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REGISTERED NUMBER: 05418727 (England and Wales)















UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2022

FOR

ASPECT TRAFFIC SOLUTIONS LTD

ASPECT TRAFFIC SOLUTIONS LTD (REGISTERED NUMBER: 05418727)






CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2022




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


ASPECT TRAFFIC SOLUTIONS LTD

COMPANY INFORMATION
FOR THE YEAR ENDED 31 MARCH 2022







DIRECTORS: D W Witts
Mrs S Witts





REGISTERED OFFICE: Springfield Cottage
Wells Road
Eastcombe
Stroud
Glos
GL6 7EE





REGISTERED NUMBER: 05418727 (England and Wales)





ACCOUNTANTS: Randall & Payne LLP
Chartered Accountants
Chargrove House
Shurdington Road
Cheltenham
Gloucestershire
GL51 4GA

ASPECT TRAFFIC SOLUTIONS LTD (REGISTERED NUMBER: 05418727)

BALANCE SHEET
31 MARCH 2022

2022 2021
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 9,945 13,259

CURRENT ASSETS
Debtors 5 8,400 44,214
Cash at bank 150,729 161,899
159,129 206,113
CREDITORS
Amounts falling due within one year 6 12,262 10,498
NET CURRENT ASSETS 146,867 195,615
TOTAL ASSETS LESS CURRENT
LIABILITIES

156,812

208,874

PROVISIONS FOR LIABILITIES 1,890 2,519
NET ASSETS 154,922 206,355

CAPITAL AND RESERVES
Called up share capital 10 10
Retained earnings 154,912 206,345
SHAREHOLDERS' FUNDS 154,922 206,355

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 March 2022.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 March 2022 in accordance with Section 476 of the Companies Act 2006.

The directors acknowledge their 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.

ASPECT TRAFFIC SOLUTIONS LTD (REGISTERED NUMBER: 05418727)

BALANCE SHEET - continued
31 MARCH 2022


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 Statement of Income and Retained Earnings has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 11 September 2022 and were signed on its behalf by:




D W Witts - Director



Mrs S Witts - Director


ASPECT TRAFFIC SOLUTIONS LTD (REGISTERED NUMBER: 05418727)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2022

1. STATUTORY INFORMATION

Aspect Traffic Solutions Ltd 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 the provision 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 as modified by the revaluation of certain assets.

Turnover
Turnover represents net invoiced sales of services, excluding value added tax.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Fixtures and fittings - 25% on reducing balance
Motor vehicles - 25% on reducing balance
Computer equipment - 25% on reducing balance

Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Statement of Income and Retained Earnings, 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.

Going concern
There are no material uncertainties that may cast significant doubt about the company's ability to continue as a going concern.

ASPECT TRAFFIC SOLUTIONS LTD (REGISTERED NUMBER: 05418727)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 MARCH 2022

2. ACCOUNTING POLICIES - continued

Provisions
Provisions are recognised only where a present obligation exists as a result of a past transaction or event at or prior to the balance sheet date. In addition, a provision is only recognised where the amounts involved can be reliably estimated. Where material, provisions are calculated on a discounted basis.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 2 (2021 - 2 ) .

4. TANGIBLE FIXED ASSETS
Fixtures
and Motor Computer
fittings vehicles equipment Totals
£    £    £    £   
COST
At 1 April 2021
and 31 March 2022 1,215 14,963 26,171 42,349
DEPRECIATION
At 1 April 2021 986 5,439 22,665 29,090
Charge for year 57 2,381 876 3,314
At 31 March 2022 1,043 7,820 23,541 32,404
NET BOOK VALUE
At 31 March 2022 172 7,143 2,630 9,945
At 31 March 2021 229 9,524 3,506 13,259

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2022 2021
£    £   
Trade debtors 8,400 21,212
Provision for doubtful debts - (900 )
Directors' loan accounts - 11,607
Tax - 12,295
8,400 44,214

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2022 2021
£    £   
Trade creditors 882 964
Corporation Tax 7,664 -
Social security and other taxes - 1,475
VAT 3,716 8,059
12,262 10,498

ASPECT TRAFFIC SOLUTIONS LTD (REGISTERED NUMBER: 05418727)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 MARCH 2022

7. DIRECTORS' ADVANCES, CREDITS AND GUARANTEES

The following advances and credits to directors subsisted during the years ended 31 March 2022 and 31 March 2021:

2022 2021
£    £   
D W Witts and Mrs S Witts
Balance outstanding at start of year 11,607 7,056
Amounts advanced 70,476 72,580
Amounts repaid (82,083 ) (68,029 )
Amounts written off - -
Amounts waived - -
Balance outstanding at end of year - 11,607

No interest is being charged on the loan and there are no set repayment terms.