Company registration number 05883450 (England and Wales)
Aspro Maintenance Limited
Unaudited
financial statements
for the year ended 31 May 2023
PAGES FOR FILING WITH REGISTRAR
Aspro Maintenance Limited
Contents
Page
Statement of financial position
1 - 2
Notes to the financial statements
3 - 4
Aspro Maintenance Limited
Statement Of Financial Position
as at 31 May 2023
- 1 -
2023
2022
Notes
£
£
£
£
Fixed assets
Tangible assets
3
220,882
37,410
Current assets
Debtors
228,802
253,087
Cash at bank and in hand
134,163
190,812
362,965
443,899
Creditors: amounts falling due within one year
(309,006)
(215,422)
Net current assets
53,959
228,477
Total assets less current liabilities
274,841
265,887
Creditors: amounts falling due after more than one year
(101,750)
(64,062)
Provisions for liabilities
4
(7,107)
Net assets
173,091
194,718
Capital and reserves
Called up share capital
100
100
Profit and loss reserves
172,991
194,618
Total equity
173,091
194,718
Aspro Maintenance Limited
Statement Of Financial Position (continued)
as at 31 May 2023
- 2 -
In accordance with section 444 of the Companies Act 2006, all of the members of the company have consented to the preparation of abridged financial statements pursuant to paragraph 1A of Schedule 1 to the Small Companies and Groups (Accounts and Directors’ Report) Regulations (SI 2008/409)(b).
The director of the company has elected not to include a copy of the income statement within the financial statements.true
For the financial year ended 31 May 2023 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
The director acknowledges his responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.
The members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476.
These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.
The financial statements were approved and signed by the director and authorised for issue on 20 September 2023
D J Tunstall
Director
Company Registration No. 05883450
Aspro Maintenance Limited
Notes to the financial statements
for the year ended 31 May 2023
- 3 -
1
Accounting policies
Accounting convention
These financial statements have been prepared in accordance with FRS 102 “The Financial Reporting Standard applicable in the UK and Republic of Ireland” (“FRS 102”) and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime. The disclosure requirements of section 1A of FRS 102 have been applied other than where additional disclosure is required to show a true and fair view.
The financial statements are prepared in sterling, which is the functional currency of the company.
The financial statements have been prepared under the historical cost convention. The principal accounting policies adopted are set out below.
Turnover
Turnover is recognised at the fair value of the consideration received for goods and services provided in the normal course of business, and is shown net of VAT and other sales related taxes. Turnover is recognised upon provision of goods and services.
Tangible fixed assets
Tangible fixed assets are initially measured at cost and subsequently measured at cost less depreciation.
Depreciation is recognised so as to write off the cost of assets less their residual values over their useful lives on the following bases:
Motor vehicles
25% on written down value
The gain or loss arising on the disposal of an asset is determined as the difference between the sale proceeds and the carrying value of the asset, and is credited or charged to profit or loss.
Current tax
The tax currently payable is based on taxable profit for the year. Taxable profit differs from net profit as reported in the income statement because it excludes items of income or expense that are taxable or deductible in other years and it further excludes items that are never taxable or deductible. The company’s liability for current tax is calculated using tax rates that have been enacted or substantively enacted by the reporting end date.
Deferred tax
Deferred tax is recognised on all timing differences between the carrying amount of of assets and liabilities in the financial statements and the corresponding tax bases used in the computation of taxable profit. The carrying amount of deferred tax assets is reviewed at the end of each reporting period and reduced to the extent that it is no longer probable that sufficient taxable profits will be available to allow all or part of the asset to be recovered. Deferred tax assets and liabilities are measured at the tax rates that are expected to apply in the period in which the liability is then settled or the asset realised, based on the tax rates that have been enacted or substantively enacted by the end of the reporting period.
Retirement benefits
Payments to defined contribution retirement benefit schemes are charged as an expense as they fall due.
Leases
Assets held under finance leases are recognised as assets at the lower of the assets fair value at the date of inception and the present value of the minimum lease payments. The related liability is included in the statement of financial position as a finance lease obligation. Lease payments are treated as consisting of capital and interest elements. The interest is charged to the income statement so as to produce a constant periodic rate of interest on the remaining balance of the liability.
Aspro Maintenance Limited
Notes to the financial statements (continued)
for the year ended 31 May 2023
1
Accounting policies
(continued)
- 4 -
Government grants
Government grants relate to Coronavirus Job Retention Scheme (CJRS) funding of staff who have been furloughed due to Covid-19. These revenue-based grants are recognised over the same period in which the related costs are incurred.
2
Employees
The average monthly number of persons (including directors) employed by the company during the year was:
2023
2022
Number
Number
Total
22
22
3
Tangible fixed assets
Motor vehicles
£
Cost
At 1 June 2022
93,170
Additions
249,677
Disposals
(18,500)
At 31 May 2023
324,347
Depreciation and impairment
At 1 June 2022
55,760
Depreciation charged in the year
47,705
At 31 May 2023
103,465
Carrying amount
At 31 May 2023
220,882
At 31 May 2022
37,410
4
Provisions for liabilities
2023
2022
£
£
Deferred tax liabilities
7,107
5
Company information
Aspro Maintenance Limited is a private company limited by shares incorporated in England and Wales. The registered office is West House, King Cross Road, Halifax, West Yorkshire, HX1 1EB.