Asedo Technology Services Ltd |
Registered number: |
10020264 |
Balance Sheet |
as at 28 February 2018 |
|
Notes |
|
|
2018 |
|
|
2017 |
£ |
£ |
Current assets |
Debtors |
3 |
|
529 |
|
|
3,691 |
Cash at bank and in hand |
|
|
3,799 |
|
|
7,199 |
|
|
|
4,328 |
|
|
10,890 |
|
Creditors: amounts falling due within one year |
4 |
|
(10,444) |
|
|
(10,182) |
|
Net current (liabilities)/assets |
|
|
|
(6,116) |
|
|
708 |
|
Net (liabilities)/assets |
|
|
|
(6,116) |
|
|
708 |
|
|
|
|
|
|
|
|
Capital and reserves |
Called up share capital |
|
|
|
1 |
|
|
1 |
Profit and loss account |
|
|
|
(6,117) |
|
|
707 |
|
Shareholder's funds |
|
|
|
(6,116) |
|
|
708 |
|
|
|
|
|
|
|
|
The directors are satisfied that the company is entitled to exemption from the requirement to obtain an audit under section 477 of the Companies Act 2006. |
The member has not required the company to obtain an audit in accordance with section 476 of the Act. |
The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts. |
The accounts have been prepared and delivered in accordance with the special provisions applicable to companies subject to the small companies regime. The profit and loss account has not been delivered to the Registrar of Companies. |
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|
|
|
Sami Ingeborn |
Director |
Approved by the board on 31 October 2018 |
|
Asedo Technology Services Ltd |
Notes to the Accounts |
for the year ended 28 February 2018 |
|
|
1 |
Accounting policies |
|
|
Basis of preparation |
|
The financial statements have been prepared under the historical cost convention and in accordance with FRS 102 Section 1A, The Financial Reporting Standard applicable in the UK and Republic of Ireland (‘‘FRS 102’’) and the Companies Act 2006. |
|
|
Turnover |
|
Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover includes revenue earned from the sale of goods and from the rendering of services. Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods have transferred to the buyer. Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs. |
|
|
Creditors |
|
Short term creditors are measured at transaction price (which is usually the invoice price). Loans and other financial liabilities are initially recognised at transaction price net of any transaction costs and subsequently measured at amortised cost determined using the effective interest method. |
|
|
Taxation |
|
A current tax liability is recognised for the tax payable on the taxable profit of the current and past periods. A current tax asset is recognised in respect of a tax loss that can be carried back to recover tax paid in a previous period. Deferred tax is recognised in respect of all timing differences between the recognition of income and expenses in the financial statements and their inclusion in tax assessments. 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. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date and that are expected to apply to the reversal of the timing difference, except for revalued land and investment property where the tax rate that applies to the sale of the asset is used. Current and deferred tax assets and liabilities are not discounted. |
|
|
Going Concern |
|
The company is currently loss making with a net liabilities position at the balance sheet date. The parent company confirms they will continue to financially support the company for at least the next 12 months and the accounts are prepared on a going concern basis accordingly. |
|
|
|
|
|
|
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|
|
|
2 |
Employees |
|
|
There were no employees in the period (2017: none). |
|
3 |
Debtors |
2018 |
|
2017 |
£ |
£ |
|
|
Other debtors |
529 |
|
3,691 |
|
|
|
|
|
|
|
|
|
|
4 |
Creditors: amounts falling due within one year |
2018 |
|
2017 |
£ |
£ |
|
|
Trade creditors |
852 |
|
594 |
|
Amounts owed to group companies |
|
7,911 |
|
7,911 |
|
Corporation tax |
- |
|
177 |
|
Other creditors |
1,681 |
|
1,500 |
|
|
|
|
|
|
10,444 |
|
10,182 |
|
|
|
|
|
|
|
|
|
|
5 |
Loans to directors |
|
Description and conditions |
B/fwd |
Paid |
Repaid |
C/fwd |
£ |
£ |
£ |
£ |
|
Charlie M Ejerholm |
|
Loan (to)/from director |
(1) |
|
- |
|
- |
|
(1) |
|
|
Sami Ingeborn |
|
Loan (to)/from director |
- |
|
181 |
|
- |
|
181 |
|
|
|
(1) |
|
181 |
|
- |
|
180 |
|
|
|
|
|
|
|
|
|
|
6 |
Controlling party |
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The Ultimate Parent Company is Asedo Sverige AB, a company incorporated in Sweden. Charlie M Ejerholm is the ultimate controlling party by virtue of his right to exercise significant influence or control over the company. |
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7 |
Other information |
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Asedo Technology Services Ltd is a private company limited by shares and incorporated in England. Its registered office is: |
|
Sweden House |
|
5 Upper Montagu Street |
|
London |
|
England |
|
W1H 2AG |