Financial Management Services (Aberdeen) Limited Company accounts

COMPANY REGISTRATION NUMBER: SC553363

Financial Management Services (Aberdeen) Limited

Unaudited Financial Statements

31 December 2024

Financial Management Services (Aberdeen) Limited

Financial Statements

Year ended 31 December 2024

Contents	Page

Director's report	1

Statement of income and retained earnings	2

Statement of financial position	3

Notes to the financial statements	4

Financial Management Services (Aberdeen) Limited

Director's Report

Year ended 31 December 2024

The director presents her report and the unaudited financial statements of the company for the year ended 31 December 2024 .

Director

The director who served the company during the year was as follows:

Mrs F Stephen

Small company provisions

This report has been prepared in accordance with the provisions applicable to companies entitled to the small companies exemption.

This report was approved by the board of directors on 19 September 2025 and signed on behalf of the board by:

Mrs F Stephen
Director

Registered office:

12 Carlton Place

Aberdeen

UK

AB15 4BQ

Financial Management Services (Aberdeen) Limited

Statement of Income and Retained Earnings

Year ended 31 December 2024

	2024	2023
Note	£	£
Turnover	142,081	168,104

Cost of sales	2,007	( 118)
	---------	---------
Gross profit	140,074	168,222

Administrative expenses	82,586	114,321
	---------	---------
Operating profit	57,488	53,901

Other interest receivable and similar income	110	100
Interest payable and similar expenses	480	648
	---------	---------
Profit before taxation	57,118	53,353

Tax on profit	10,782	10,667
	--------	--------
Profit for the financial year and total comprehensive income	46,336	42,686
	--------	--------

Retained earnings at the start of the year	243,124	200,438
	---------	---------
Retained earnings at the end of the year	289,460	243,124
	---------	---------

All the activities of the company are from continuing operations.

Financial Management Services (Aberdeen) Limited

Statement of Financial Position

31 December 2024

	2024	2023
Note	£	£

Current assets

Debtors	6	350,308	277,916
Cash at bank and in hand		31,830	12,384
		---------	---------
		382,138	290,300

Creditors: amounts falling due within one year	7	84,509	30,841
		---------	---------
Net current assets		297,629	259,459
		---------	---------
Total assets less current liabilities		297,629	259,459

Creditors: amounts falling due after more than one year	8	8,167	16,333
		---------	---------
Net assets		289,462	243,126
		---------	---------

Capital and reserves

Called up share capital	2	2
Profit and loss account	289,460	243,124
	---------	---------
Shareholders funds	289,462	243,126
	---------	---------

These financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with Section 1A of FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.

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

Director's responsibilities:

- The members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476 ;

- The director acknowledges her responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements .

These financial statements were approved by the board of directors and authorised for issue on 19 September 2025 , and are signed on behalf of the board by:

Mrs F Stephen
Director

Company registration number: SC553363

Financial Management Services (Aberdeen) Limited

Notes to the Financial Statements

Year ended 31 December 2024

1. General information

The company is a private company limited by shares, registered in Scotland. The address of the registered office is 12 Carlton Place, Aberdeen, AB15 4BQ, UK.

2. Statement of compliance

These financial statements have been prepared in compliance with Section 1A of FRS 102, 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland'.

3. Accounting policies

Basis of preparation

The financial statements have been prepared on the historical cost basis, as modified by the revaluation of certain financial assets and liabilities and investment properties measured at fair value through profit or loss.

The financial statements are prepared in sterling, which is the functional currency of the entity.

Revenue recognition

Turnover is measured at the fair value of the consideration received or receivable and represents amounts receivable for goods supplied and services rendered, stated net of discounts and of Value Added Tax.

Tangible assets

Tangible assets are initially recorded at cost, and subsequently stated at cost less any accumulated depreciation and impairment losses. Any tangible assets carried at revalued amounts are recorded at the fair value at the date of revaluation less any subsequent accumulated depreciation and subsequent accumulated impairment losses. An increase in the carrying amount of an asset as a result of a revaluation, is recognised in other comprehensive income and accumulated in equity, except to the extent it reverses a revaluation decrease of the same asset previously recognised in profit or loss. A decrease in the carrying amount of an asset as a result of revaluation, is recognised in other comprehensive income to the extent of any previously recognised revaluation increase accumulated in equity in respect of that asset. Where a revaluation decrease exceeds the accumulated revaluation gains accumulated in equity in respect of that asset, the excess shall be recognised in profit or loss.

Depreciation

Depreciation is calculated so as to write off the cost or valuation of an asset, less its residual value, over the useful economic life of that asset as follows:

	Fixtures and fittings	-	33% straight line

Impairment of fixed assets

A review for indicators of impairment is carried out at each reporting date, with the recoverable amount being estimated where such indicators exist. Where the carrying value exceeds the recoverable amount, the asset is impaired accordingly. Prior impairments are also reviewed for possible reversal at each reporting date. For the purposes of impairment testing, when it is not possible to estimate the recoverable amount of an individual asset, an estimate is made of the recoverable amount of the cash-generating unit to which the asset belongs. The cash-generating unit is the smallest identifiable group of assets that includes the asset and generates cash inflows that largely independent of the cash inflows from other assets or groups of assets. For impairment testing of goodwill, the goodwill acquired in a business combination is, from the acquisition date, allocated to each of the cash-generating units that are expected to benefit from the synergies of the combination, irrespective of whether other assets or liabilities of the company are assigned to those units.

Financial instruments

A financial asset or a financial liability is recognised only when the entity becomes a party to the contractual provisions of the instrument. Basic financial instruments are initially recognised at the transaction price, unless the arrangement constitutes a financing transaction, where it is recognised at the present value of the future payments discounted at a market rate of interest for a similar debt instrument.

4. Employee numbers

The average number of persons employed by the company during the year amounted to 1 (2023: 1 ).

5. Tangible assets

	Fixtures and fittings
	£
Cost
At 1 January 2024 and 31 December 2024	898
	----
Depreciation
At 1 January 2024 and 31 December 2024	898
	----
Carrying amount
At 31 December 2024	–
	----
At 31 December 2023	–
	----

6. Debtors

	2024	2023
	£	£
Trade debtors	94,008	277,916
Other debtors	256,300	–
	---------	---------
	350,308	277,916
	---------	---------

7. Creditors: amounts falling due within one year

	2024	2023
	£	£
Bank loans and overdrafts	7,000	5,834
Trade creditors	2,983	3,909
Corporation tax	11,000	10,750
Social security and other taxes	6,078	9,728
Other creditors	57,448	620
	--------	--------
	84,509	30,841
	--------	--------

8. Creditors: amounts falling due after more than one year

	2024	2023
	£	£
Bank loans and overdrafts	8,167	16,333
	-------	--------