1 false false false false false false false false false true false false false false false false No description of principal activity 2022-04-01 Sage Accounts Production Advanced 2021 - FRS102_2021 20,500 20,500 21,539 17,145 4,394 4,394 21,539 xbrli:pure xbrli:shares iso4217:GBP 07771276 2022-04-01 2023-03-31 07771276 2023-03-31 07771276 2021-04-01 2022-03-31 07771276 2022-03-31 07771276 core:LandBuildings core:ShortLeaseholdAssets 2022-04-01 2023-03-31 07771276 core:PlantMachinery 2022-04-01 2023-03-31 07771276 bus:Director1 2022-04-01 2023-03-31 07771276 core:NetGoodwill 2023-03-31 07771276 core:LandBuildings core:ShortLeaseholdAssets 2023-03-31 07771276 core:PlantMachinery 2023-03-31 07771276 core:WithinOneYear 2023-03-31 07771276 core:WithinOneYear 2022-03-31 07771276 core:AfterOneYear 2023-03-31 07771276 core:AfterOneYear 2022-03-31 07771276 core:ShareCapital 2023-03-31 07771276 core:ShareCapital 2022-03-31 07771276 core:RetainedEarningsAccumulatedLosses 2023-03-31 07771276 core:RetainedEarningsAccumulatedLosses 2022-03-31 07771276 core:CostValuation core:Non-currentFinancialInstruments 2022-03-31 07771276 core:Non-currentFinancialInstruments core:RevaluationsIncreaseDecreaseInInvestments 2023-03-31 07771276 core:CostValuation core:Non-currentFinancialInstruments 2023-03-31 07771276 core:Non-currentFinancialInstruments 2023-03-31 07771276 core:Non-currentFinancialInstruments 2022-03-31 07771276 bus:SmallEntities 2022-04-01 2023-03-31 07771276 bus:AuditExemptWithAccountantsReport 2022-04-01 2023-03-31 07771276 bus:FullAccounts 2022-04-01 2023-03-31 07771276 bus:SmallCompaniesRegimeForAccounts 2022-04-01 2023-03-31 07771276 bus:PrivateLimitedCompanyLtd 2022-04-01 2023-03-31 07771276 core:OfficeEquipment 2022-04-01 2023-03-31 07771276 core:OfficeEquipment 2023-03-31
COMPANY REGISTRATION NUMBER: 07771276
Aitus Services Ltd
Unaudited financial statements
31 March 2023
Aitus Services Ltd
Statement of financial position
31 March 2023
2023
2022
Note
£
£
£
£
Fixed assets
Investments
7
4,394
21,539
Current assets
Debtors
8
605
231
Cash at bank and in hand
1,958
1,842
------
------
2,563
2,073
Creditors: Amounts falling due within one year
9
( 7,766)
( 54,530)
------
-------
Net current liabilities
( 5,203)
( 52,457)
------
-------
Total assets less current liabilities
( 809)
( 30,918)
Creditors: Amounts falling due after more than one year
10
( 42,916)
( 500,980)
-------
---------
Net liabilities
( 43,725)
( 531,898)
-------
---------
Capital and reserves
Called up share capital
200
200
Profit and loss account
( 43,925)
( 532,098)
-------
---------
Shareholders deficit
( 43,725)
( 531,898)
-------
---------
These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with Section 1A of FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.
In accordance with section 444 of the Companies Act 2006, the statement of income and retained earnings has not been delivered.
For the year ending 31 March 2023 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
Director's responsibilities:
- 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 ;
- The director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements .
These financial statements were approved by the board of directors and authorised for issue on 11 October 2023 , and are signed on behalf of the board by:
F L Talbot
Director
Company registration number: 07771276
Aitus Services Ltd
Notes to the financial statements
Year ended 31 March 2023
1. General information
The company is a private company limited by shares, registered in England and Wales. The address of the registered office is Peacock House, 32 St. Mary's Street, Ely, Cambridgeshire, CB7 4ES.
2. Statement of compliance
These financial statements have been prepared in compliance with Section 1A of FRS 102, 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland'.
3. Accounting policies
Basis of preparation
The financial statements have been prepared on the historical cost basis, as modified by the revaluation of certain financial assets and liabilities and investment properties measured at fair value through profit or loss.
The financial statements are prepared in sterling, which is the functional currency of the entity.
Transition to FRS 102
The entity transitioned from previous UK GAAP to FRS 102 as at 1 April 2021. Details of how FRS 102 has affected the reported financial position and financial performance is given in note 11.
Revenue recognition
Turnover is measured at the fair value of the consideration received or receivable for goods supplied and services rendered, net of discounts and Value Added Tax. Revenue from the sale of goods is recognised when the significant risks and rewards of ownership have transferred to the buyer (usually on despatch of the goods); the amount of revenue can be measured reliably; it is probable that the associated economic benefits will flow to the entity; and the costs incurred or to be incurred in respect of the transactions can be measured reliably.
Tangible assets
Tangible assets are initially recorded at cost, and subsequently stated at cost less any accumulated depreciation and impairment losses. Any tangible assets carried at revalued amounts are recorded at the fair value at the date of revaluation less any subsequent accumulated depreciation and subsequent accumulated impairment losses. An increase in the carrying amount of an asset as a result of a revaluation, is recognised in other comprehensive income and accumulated in equity, except to the extent it reverses a revaluation decrease of the same asset previously recognised in profit or loss. A decrease in the carrying amount of an asset as a result of revaluation, is recognised in other comprehensive income to the extent of any previously recognised revaluation increase accumulated in equity in respect of that asset. Where a revaluation decrease exceeds the accumulated revaluation gains accumulated in equity in respect of that asset, the excess shall be recognised in profit or loss.
Depreciation
Depreciation is calculated so as to write off the cost or valuation of an asset, less its residual value, over the useful economic life of that asset as follows:
Short leasehold property
-
5% straight line
Plant and machinery
-
25% straight line
Equipment
-
25% straight line
Investments
Fixed asset investments are initially recorded at cost, and subsequently stated at cost less any accumulated impairment losses.
Listed investments are measured at fair value with changes in fair value being recognised in profit or loss.
Government grants
Government grants are recognised at the fair value of the asset received or receivable. Grants are not recognised until there is reasonable assurance that the company will comply with the conditions attaching to them and the grants will be received. Government grants are recognised using the accrual model and the performance model.
Defined contribution plans
Contributions to defined contribution plans are recognised as an expense in the period in which the related service is provided. Prepaid contributions are recognised as an asset to the extent that the prepayment will lead to a reduction in future payments or a cash refund. When contributions are not expected to be settled wholly within 12 months of the end of the reporting date in which the employees render the related service, the liability is measured on a discounted present value basis. The unwinding of the discount is recognised as a finance cost in profit or loss in the period in which it arises.
4. Employee numbers
The average number of employees during the year was 1 (2022: 1 ).
5. Intangible assets
Goodwill
£
Cost
At 1 April 2022 and 31 March 2023
20,500
-------
Amortisation
At 1 April 2022 and 31 March 2023
20,500
-------
Carrying amount
At 31 March 2023
-------
At 31 March 2022
-------
6. Tangible assets
Short leasehold property
Plant and machinery
Equipment
Total
£
£
£
£
Cost
At 1 April 2022 and 31 March 2023
15,533
19,184
22,034
56,751
-------
-------
-------
-------
Depreciation
At 1 April 2022 and 31 March 2023
15,533
19,184
22,034
56,751
-------
-------
-------
-------
Carrying amount
At 31 March 2023
-------
-------
-------
-------
At 31 March 2022
-------
-------
-------
-------
7. Investments
Other investments other than loans
£
Cost
At 1 April 2022
21,539
Revaluations
( 17,145)
-------
At 31 March 2023
4,394
-------
Impairment
At 1 April 2022 and 31 March 2023
-------
Carrying amount
At 31 March 2023
4,394
-------
At 31 March 2022
21,539
-------
8. Debtors
2023
2022
£
£
Other debtors
605
231
----
----
9. Creditors: Amounts falling due within one year
2023
2022
£
£
Bank loans and overdrafts
5,471
10,000
Trade creditors
61
43
Other creditors
2,234
44,487
------
-------
7,766
54,530
------
-------
10. Creditors: Amounts falling due after more than one year
2023
2022
£
£
Bank loans and overdrafts
42,916
40,000
Other creditors
460,980
-------
---------
42,916
500,980
-------
---------
Included within creditors: amounts falling due after more than one year is an amount of £19,612 (2022: £25,658) in respect of liabilities payable or repayable by instalments which fall due for payment after more than five years from the reporting date.
This balance is subject to an interest rate of 2.5% and is due to mature on 9 April 2031.
11. Transition to FRS 102
These are the first financial statements that comply with FRS 102. The company transitioned to FRS 102 on 1 April 2021.
No transitional adjustments were required in equity or profit or loss for the year.