REGISTERED NUMBER: SC232317 (Scotland)

Unaudited Financial Statements

for the Year Ended 31 March 2025

for

Financial Independence (Scotland) Ltd.

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

4

DIRECTOR:

Mr Henry John Reid

REGISTERED OFFICE:

1 Ainslie Road

Hillington

Glasgow

G52 4RU

REGISTERED NUMBER:

SC232317 (Scotland)

ACCOUNTANTS:

Gillespie & Anderson

Chartered Accountants

Westburn Business Centre

McNee Road

Prestwick

KA9 2PB

FIXED ASSETS

Tangible assets

4

1,206

1,419

Investment property

5

250,000

250,000

251,206

251,419

CURRENT ASSETS

Debtors

6

406,533

427,964

Cash at bank

402,191

214,838

808,724

642,802

CREDITORS

Amounts falling due within one year

7

55,554

33,562

NET CURRENT ASSETS

753,170

609,240

TOTAL ASSETS LESS CURRENT LIABILITIES

1,004,376

860,659

PROVISIONS FOR LIABILITIES

20,402

20,455

NET ASSETS

983,974

840,204

CAPITAL AND RESERVES

Called up share capital

3

3

Non-distributable fair value

reserve

8

60,300

60,300

Retained earnings

923,671

779,901

SHAREHOLDERS' FUNDS

983,974

840,204

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 March 2025.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 March 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.

In accordance with Section 444 of the Companies Act 2006, the Profit and Loss Account has not been delivered.

The financial statements were approved by the director and authorised for issue on 17 December 2025 and were signed by:

Mr Henry John Reid - Director

1.	STATUTORY INFORMATION

Financial Independence (Scotland) Ltd. is a private company, limited by shares , registered in Scotland. 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 the provisions of Section 1A "Small Entities" of Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.

Going Concern

The current and future cash position of the company is reviewed regularly by the Director. This includes a comprehensive review of working capital requirements, taking account of the current and projected income and expense streams. On the basis of this review, the director is satisfied that the company has sufficient available resources to meet its commitments as they fall due over the next year and beyond. On that basis, the financial statements have been prepared on a going concern basis.

Turnover/revenue recognition

Sales comprise the fair value of the consideration received or receivable for the sale of goods and rendering of services in the ordinary course of the Company's activities.

Sales are presented, net of value-added tax, rebates and discounts.

The Company recognises revenue when the amount of revenue and related cost can be reliably measured, it is probable that the collectability of the related receivables is reasonably assured and when the specific criteria for each of the Company's activities are met.

Tangible fixed assets

Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.

Plant and machinery etc

-

15% on reducing balance

Investment property

Investment property is shown at most recent valuation. Any aggregate surplus or deficit arising from changes in fair value is recognised in profit or loss.

Financial instruments

The company has no complex financial instruments but does hold basic financial instruments of; cash at bank, debtors, and creditors.

Cash and cash equivalents comprise cash at bank and on hand, foreign currency on hand, demand deposits with banks and other short-term highly liquid investments with original maturities of three months or less and bank overdrafts. A bank overdraft would be shown within current liabilities.

Trade and other debtors are initially recognised at fair value and subsequently measured at amortised cost using the effective interest method, less losses for bad debts except where the effect of discounting would be immaterial. In such cases, trade and other debtors are stated at cost less losses for bad debts.

Trade and other creditors are initially recognised at fair value and subsequently measured at amortised cost using the effective interest rate unless the effect of discounting would be immaterial. In such cases, trade and other creditors are stated at cost.

Taxation

Taxation for the year comprises current and deferred tax. Tax is recognised in the Profit and Loss Account, 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 balance sheet date.

Deferred tax

Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet 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.

Pension costs and other post-retirement benefits

The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate.

Provision for liabilities

A provision is initially recognised when there is an obligation at the balance sheet date as the result of a past event, it is probable that there will be the transfer of funds in settlement and the amount of the obligation can be estimated reliably. The provision is subsequently measured by placing a charge against the provision only for expenditure for which the provision was originally recognised

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 1 (2024 - 2 ) .

4.	TANGIBLE FIXED ASSETS

Computer

equipment

£

COST

At 1 April 2024

and 31 March 2025

20,079

DEPRECIATION

At 1 April 2024

18,660

Charge for year

213

At 31 March 2025

18,873

NET BOOK VALUE

At 31 March 2025

1,206

At 31 March 2024

1,419

5.	INVESTMENT PROPERTY

Total

£

FAIR VALUE

At 1 April 2024

and 31 March 2025

250,000

NET BOOK VALUE

At 31 March 2025

250,000

At 31 March 2024

250,000

Fair value at 31 March 2025 is represented by:

£

Valuation in 2024

250,000

Investment property was valued on fair value basis on 31 March 2025 by the director .

6.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2025

2024

£

£

Trade debtors

216,533

234,367

Other debtors

190,000

193,597

406,533

427,964

7.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2025

2024

£

£

Taxation and social security

51,142

22,684

Other creditors

4,412

10,878

55,554

33,562

8.

RESERVES

Non-distribut

fair

value

reserve

£

At 1 April 2024

and 31 March 2025

60,300

9.	DIRECTOR'S ADVANCES, CREDITS AND GUARANTEES

The following advances and credits to a director subsisted during the years ended 31 March 2025 and 31 March 2024:

2025

2024

£

£

Mr Henry John Reid

Balance outstanding at start of year

3,597

57,107

Amounts advanced

16,951

11,148

Amounts repaid

(20,920

)

(64,658

)

Amounts written off

-

-

Amounts waived

-

-

Balance outstanding at end of year

(372

)

3,597

Director loan account balances are interest free and repayable on demand . Any overdrawn loan account is cleared within 9 months of the year end.

10.	RELATED PARTY DISCLOSURES

The company trades with a business in which the director is a partner. Income generated in the year amounted to £322,750 (2024 £245,000 ) . Monies outstanding and due from the partnership as at 31st March 2025 amounted to £216,533 (2024 £234,367).

11.	CONTROLLING PARTY

The company is controlled by Henry Reid , director by virtue of his day to day involvement in the company's affairs and 66.67% ownership of the issued share capital.