THE ASCENT GROUP LIMITED

Company Registration Number:
01840960 (England and Wales)

Unaudited statutory accounts for the year ended 31 December 2022

Period of accounts

Start date: 01 January 2022

End date: 31 December 2022

THE ASCENT GROUP LIMITED

Contents of the Financial Statements

for the Period Ended 31 December 2022

Company Information - 3
Report of the Directors - 4
Profit and Loss Account - 5
Balance sheet - 6
Additional notes - 8
Balance sheet notes - 11

THE ASCENT GROUP LIMITED

Company Information

for the Period Ended 31 December 2022




Director: J L Zorab
Mark Kerns
Secretary: J L Zorab
Registered office: Baliey Pitt Farmhouse
Watery Lane
Monmouth
Gwent
NP25 5AT
Company Registration Number: 01840960 (England and Wales)

THE ASCENT GROUP LIMITED

Directors' Report Period Ended 31 December 2022

The directors present their report with the financial statements of the company for the period ended 31 December 2022

Principal Activities

Technology Development

Directors

The directors shown below have held office during the whole of the period from 01 January 2022 to 31 December 2022
J L Zorab
Mark Kerns

Secretary
J L Zorab

This report was approved by the board of directors on 29 September 2023
And Signed On Behalf Of The Board By:

Name: J L Zorab
Status: Director

Name: Mark Kerns
Status: Director

THE ASCENT GROUP LIMITED

Profit and Loss Account

for the Period Ended 31 December 2022


Notes

2022
£

2021
£
Turnover 189,820 66,476
Cost of sales ( 0 ) ( 0 )
Gross Profit or (Loss) 189,820 66,476
Distribution Costs - ( 0 )
Administrative Expenses ( 91,329 ) ( 46,739 )
Other operating income 10,120 13,968
Operating Profit or (Loss) 108,611 33,705
Interest Payable and Similar Charges ( 33,489 ) ( 29,147 )
Profit or (Loss) Before Tax 75,122 4,558
Tax on Profit - ( 0 )
Profit or (Loss) for Period 75,122 4,558

The notes form part of these financial statements

THE ASCENT GROUP LIMITED

Balance sheet

As at 31 December 2022


Notes

2022
£

2021
£
Fixed assets
Intangible assets: 4 183,969 111,880
Tangible assets: 5 1,103 1,103
Total fixed assets: 185,072 112,983
Current assets
Stocks: 0 0
Debtors: 6 44,598 9,845
Cash at bank and in hand: 197,400 17,750
Total current assets: 241,998 27,595
Creditors: amounts falling due within one year: 7 ( 54,506 ) ( 18,819 )
Net current assets (liabilities): 187,492 8,776
Total assets less current liabilities: 372,564 121,759
Creditors: amounts falling due after more than one year: 8 ( 487,621 ) ( 592,676 )
Total net assets (liabilities): ( 115,057 ) ( 470,917 )

The notes form part of these financial statements

THE ASCENT GROUP LIMITED

Balance sheet continued

As at 31 December 2022


Notes

2022
£

2021
£
Capital and reserves
Called up share capital: 2,080,433 1,815,095
Profit and loss account: ( 2,195,490 ) ( 2,286,012 )
Shareholders funds: ( 115,057 ) ( 470,917 )

For the year ending 31 December 2022 the company was entitled to exemption under section 477 of the Companies Act 2006 relating to small companies.

The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

These accounts have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

This report was approved by the board of directors on 29 September 2023
And Signed On Behalf Of The Board By:

Name: J L Zorab
Status: Director

Name: Mark Kerns
Status: Director

The notes form part of these financial statements

THE ASCENT GROUP LIMITED

Notes to the Financial Statements

for the Period Ended 31 December 2022

  • 1. Accounting policies

    Basis of measurement and preparation

    These financial statements have been prepared in accordance with the provisions of Section 1A (Small Entities) of Financial Reporting Standard 102

THE ASCENT GROUP LIMITED

Notes to the Financial Statements

for the Period Ended 31 December 2022

  • 2. Employees


    2022

    2021
    Average number of employees during the period 1 2

THE ASCENT GROUP LIMITED

Notes to the Financial Statements

for the Period Ended 31 December 2022

  • 3. Off balance sheet disclosure

    No

THE ASCENT GROUP LIMITED

Notes to the Financial Statements

for the Period Ended 31 December 2022

4. Intangible assets

Other Total
Cost £ £
At 01 January 2022 111,880 111,880
Additions 80,080 80,080
Disposals ( 0 ) ( 0 )
Revaluations 0 0
Transfers 0 0
At 31 December 2022 191,960 191,960
Amortisation
Amortisation at 01 January 2022 0 0
Charge for year 7,991 7,991
On disposals ( 0 ) ( 0 )
Other adjustments 0 0
Amortisation at 31 December 2022 7,991 7,991
Net book value
Net book value at 31 December 2022 183,969 183,969
Net book value at 31 December 2021 111,880 111,880

Intangibles assets are amortised over the length of life of the patents which have another 13 years to run at the end of year 2022

THE ASCENT GROUP LIMITED

Notes to the Financial Statements

for the Period Ended 31 December 2022

5. Tangible assets

Office equipment Total
Cost £ £
At 01 January 2022 1,103 1,103
Additions 0 0
Disposals ( 0 ) ( 0 )
Revaluations 0 0
Transfers 0 0
At 31 December 2022 1,103 1,103
Depreciation
At 01 January 2022 0 0
Charge for year 0 0
On disposals ( 0 ) ( 0 )
Other adjustments 0 0
At 31 December 2022 0 0
Net book value
At 31 December 2022 1,103 1,103
At 31 December 2021 1,103 1,103

Assets are written down to their minimum level and include £803 of shareholding investments

THE ASCENT GROUP LIMITED

Notes to the Financial Statements

for the Period Ended 31 December 2022

6. Debtors


2022
£

2021
£
Trade debtors 44,598 9,845
Prepayments and accrued income 0 0
Other debtors 0 0
Total 44,598 9,845
Debtors due after more than one year: 0 0

THE ASCENT GROUP LIMITED

Notes to the Financial Statements

for the Period Ended 31 December 2022

7.Creditors: amounts falling due within one year note


2022
£

2021
£
Bank loans and overdrafts 0 0
Amounts due under finance leases and hire purchase contracts 0 0
Trade creditors 54,506 18,819
Taxation and social security 0 0
Accruals and deferred income 0 0
Other creditors 0 0
Total 54,506 18,819

THE ASCENT GROUP LIMITED

Notes to the Financial Statements

for the Period Ended 31 December 2022

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


2022
£

2021
£
Bank loans and overdrafts 0 0
Amounts due under finance leases and hire purchase contracts 0 0
Other creditors 487,621 592,676
Total 487,621 592,676

All loans are made by Mr J L Zorab, a director and his wife who have postponed the repayment of his loans to 31 December 2023 to allow the company to meet its other commitments as they fall due. The terms of the loan include interest at 7%