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Registration number: SC067139

Fintool Limited

Unaudited Financial Statements

for the Year Ended 31 October 2024

 

Fintool Limited

Contents

Statement of Financial Position

1

Notes to the Financial Statements

2 to 4

 

Fintool Limited

(Registration number: SC067139)
Statement of Financial Position as at 31 October 2024

Note

2024
£

2023
£

Creditors: Amounts falling due within one year

6

(40,874)

(40,861)

Capital and reserves

 

Called up share capital

17

17

Retained earnings

(40,891)

(40,878)

Shareholders' deficit

 

(40,874)

(40,861)

For the financial year ending 31 October 2024 the Company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Directors' responsibilities:

The members have not required the Company to obtain an audit of its accounts for the year in question in accordance with section 476; and

The Directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime. As permitted by section 444 (5A) of the Companies Act 2006, the Directors have not delivered to the registrar a copy of the Income Statement.

Approved and authorised by the Board on 18 July 2025 and signed on its behalf by:
 

.........................................
Mr AW Walker
Director

.........................................
Mr DP van Niekerk
Director

 
     
 

Fintool Limited

Notes to the Financial Statements for the Year Ended 31 October 2024

1

General information

The Company is a private company limited by share capital, incorporated in Scotland.

The address of its registered office is:
29 Commercial Street
Dundee
Tayside
DD1 3DG
Scotland

2

Accounting policies

Statement of compliance

These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A smaller entities - 'The Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland' and the Companies Act 2006 (as applicable to companies subject to the small companies' regime).

Basis of preparation

These financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.

Tangible assets

Tangible assets are stated in the statement of financial position at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.

The cost of tangible assets includes directly attributable incremental costs incurred in their acquisition and installation.

Depreciation

Depreciation is charged so as to write off the cost of assets, other than land and properties under construction over their estimated useful lives, as follows:

Asset class

Depreciation method and rate

Equipment

20% reducing balance

Goodwill

Goodwill arising on the acquisition of an entity represents the excess of the cost of acquisition over the Company’s interest in the net fair value of the identifiable assets, liabilities and contingent liabilities of the entity recognised at the date of acquisition. Goodwill is initially recognised as an asset at cost and is subsequently measured at cost less accumulated amortisation and accumulated impairment losses. Goodwill is held in the currency of the acquired entity and revalued to the closing rate at each reporting period date. Goodwill is amortised over its useful life, which shall not exceed ten years if a reliable estimate of the useful life cannot be made.

Amortisation

Amortisation is provided on intangible assets so as to write off the cost, less any estimated residual value, over their useful life as follows:

 

Fintool Limited

Notes to the Financial Statements for the Year Ended 31 October 2024

Asset class

Amortisation method and rate

Goodwill

5% straight line

Financial instruments

Classification
Financial instruments are classified and accounted for, according to the substance of the contractual agreement, as either financial assets, financial liabilities or equity instruments. An equity instrument is any contract that evidences a residual interest in the assets of the company after deducting all of its liabilities.
 

3

Staff numbers

The average number of persons employed by the Company (including Directors) during the year, was 2 (2023 - 2).

4

Intangible assets

Goodwill
 £

Cost or valuation

At 1 November 2023

103,507

At 31 October 2024

103,507

Amortisation

At 1 November 2023

103,507

At 31 October 2024

103,507

Carrying amount

At 31 October 2024

-

 

Fintool Limited

Notes to the Financial Statements for the Year Ended 31 October 2024

5

Tangible assets

Office equipment
£

Cost or valuation

At 1 November 2023

3,146

At 31 October 2024

3,146

Depreciation

At 1 November 2023

3,146

At 31 October 2024

3,146

Carrying amount

At 31 October 2024

-

6

Creditors

Creditors: amounts falling due within one year

2024
£

2023
£

Due within one year

Other creditors

40,874

40,861