REGISTERED NUMBER: 07259189 (England and Wales)

Abridged Financial Statements for the Year Ended 30 June 2025

for

Creditas Financial Solutions

(Scotland) Limited

Page

Company Information

1

Abridged Statement of Financial Position

2

Notes to the Financial Statements

4

DIRECTOR:

K Robertson

REGISTERED OFFICE:

101 International House

King's Cross Road

London

WC1X 9LP

REGISTERED NUMBER:

07259189 (England and Wales)

ACCOUNTANTS:

Gibson McKerrell Burrows Limited

28 Rutland Square

Edinburgh

EH1 2BW

FIXED ASSETS

Intangible assets

4

-

-

Tangible assets

5

504

838

504

838

CURRENT ASSETS

Debtors

53,994

51,742

Cash at bank

789

6,029

54,783

57,771

CREDITORS

Amounts falling due within one year

79,993

78,086

NET CURRENT LIABILITIES

(25,210

)

(20,315

)

TOTAL ASSETS LESS CURRENT LIABILITIES

(24,706

)

(19,477

)

CREDITORS

Amounts falling due after more than one year

19,584

27,917

NET LIABILITIES

(44,290

)

(47,394

)

CAPITAL AND RESERVES

Called up share capital

100

100

Retained earnings

(44,390

)

(47,494

)

SHAREHOLDERS' FUNDS

(44,290

)

(47,394

)

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30 June 2025.

The members have not required the company to obtain an audit of its financial statements for the year ended 30 June 2025 in accordance with Section 476 of the Companies Act 2006.

The director acknowledges his responsibilities for:

(a)	ensuring that the company keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006 and

(b)

preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of each financial year and of its profit or loss for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the company.

The financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

All the members have consented to the preparation of an abridged Statement of Financial Position for the year ended 30 June 2025 in accordance with Section 444(2A) of the Companies Act 2006.

In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered.

The financial statements were approved by the director and authorised for issue on 14 October 2025 and were signed by:

K Robertson - Director

1.	STATUTORY INFORMATION

Creditas Financial Solutions (Scotland) Limited is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.

The presentation currency of the financial statements is the Pound Sterling (£).

2.	ACCOUNTING POLICIES

Basis of preparing the financial statements

These financial statements have been prepared in accordance with Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" including the provisions of Section 1A "Small Entities" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.

Turnover

Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. Turnover is attributable to the company's principal activity of car and general finance brokers and the provision of an independent financial advisory service.

Intangible assets

Intangible fixed assets are initially measured at cost. After initial recognition, intangible assets are measured at cost less any accumulated depreciation and any accumulated impairment losses.

Amortisation and impairment losses are charged to the Statement of Comprehensive Income within administrative expenses.

If there is an indication that there has been a significant change in amortisation rate, useful life or residual value of the intangible assets, the amortisation is revised prospectively to reflect the new expectation.

Tangible fixed assets

Tangible fixed assets are stated at historical cost less accumulated depreciation and any accumulated impairment losses. Historical cost includes expenditure that is directly attributable to bringing the asset to the location and condition necessary for it to be capable of operating in the manner intended by management

Depreciation is charged so as to allocate the cost of assets less their residual value over their estimated useful lives, using either a straight line or reducing balance method, as indicated below.

Office Equipment

33%

Reducing balance

The assets' residual values, useful lives and depreciation methods are reviewed, and adjusted prospectively if appropriate, or if there is an indication of a significant change since the last reporting date.

Gains and losses on disposals are determined by comparing the proceeds with the carrying amount and are recognised in the Income Statement.

Financial instruments

The company only enters into basic financial instrument transactions that result in the recognition of financial

assets and liabilities like trade and other debtors and payables, loans from banks and other third

parties.

At the end of each reporting period, financial assets that are measured at cost are assessed for objective

evidence of impairment. If objective evidence of impairment is found, an impairment loss is recognised in the

Income Statement. If there is a decrease in the impairment loss arising from an event occurring after the

impairment was recognised the impairment is reversed. The reversal is such that the current carrying amount

does not exceed what the carrying amount would have been had the impairment not previously been recognised.

The impairment reversal is recognised in the Income Statement.

Financial assets are derecognised when (a) the contractual rights to the cash flows arising from the asset expire

or are settled, or (b) substantially all the risks and rewards of the ownership of the asset are transferred to

another party, or (c) control of the asset has been transferred to another party.

Financial liabilities are measured at amortised cost less any accumulated impairment losses. Financial liabilities

are derecognised when the liability is extinguished, that is when the contractual obligation is discharged,

cancelled or expires.

Taxation

Taxation for the year comprises current and deferred tax. Tax is recognised in the Income Statement, except to the extent that it relates to items recognised in other comprehensive income or directly in equity.

Current or deferred taxation assets and liabilities are not discounted.

Current tax is recognised at the amount of tax payable using the tax rates and laws that have been enacted or substantively enacted by the statement of financial position date.

Deferred tax

Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the statement of financial position date.

Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from those in which they are recognised in financial statements. Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the year end and that are expected to apply to the reversal of the timing difference.

Unrelieved tax losses and other deferred tax assets are recognised only to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits.

Going concern basis

These accounts have been prepared on the going concern basis, on the understanding that the director and shareholders will continue to support the company.The director considers the company retains sufficient working capital to continue trading for the foreseeable future.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was NIL (2024 - NIL).

4.	INTANGIBLE FIXED ASSETS

Totals

£

COST

At 1 July 2024

and 30 June 2025

22,657

AMORTISATION

At 1 July 2024

and 30 June 2025

22,657

NET BOOK VALUE

At 30 June 2025

-

At 30 June 2024

-

5.	TANGIBLE FIXED ASSETS

Totals

£

COST

At 1 July 2024

and 30 June 2025

22,080

DEPRECIATION

At 1 July 2024

21,242

Charge for year

334

At 30 June 2025

21,576

NET BOOK VALUE

At 30 June 2025

504

At 30 June 2024

838

6.	DIRECTOR'S ADVANCES, CREDITS AND GUARANTEES

The following advances and credits to a director subsisted during the years ended 30 June 2025 and 30 June 2024:

30.6.25

30.6.24

£

£

K Robertson

Balance outstanding at start of year

21,945

19,661

Amounts advanced

5,150

7,750

Amounts repaid

(2,100

)

(5,466

)

Amounts written off

-

-

Amounts waived

-

-

Balance outstanding at end of year

24,995

21,945

7.	RELATED PARTY DISCLOSURES

At the year end he company was due £7,356 to Credit Connect (Edinburgh) Ltd . K Robertson, director and shareholder, is a director and shareholder in Credit Connect (Edinburgh) Ltd.

At the year end the company was due £6,753( 2024 £6,753) to Citi Pro Ltd. K Robertson, director and shareholder, is a director and shareholder in Citi Pro Ltd.

At the year end the company was due £16,650 (2024: £16,300) to Credit Connect Properties, a business in which K Robertson, director, is a partner.