0 false false false false false false false false false true false false false false false false No description of principal activity 2021-10-31 Sage Accounts Production Advanced 2021 - FRS102_2021 13,240 5,296 2,648 7,944 5,296 7,944 xbrli:pure xbrli:shares iso4217:GBP 11011085 2021-10-31 2022-10-30 11011085 2022-10-30 11011085 2021-10-30 11011085 2021-10-30 11011085 bus:Director1 2021-10-31 2022-10-30 11011085 core:WithinOneYear 2022-10-30 11011085 core:WithinOneYear 2021-10-30 11011085 core:AfterOneYear 2022-10-30 11011085 core:AfterOneYear 2021-10-30 11011085 core:ShareCapital 2022-10-30 11011085 core:ShareCapital 2021-10-30 11011085 core:RetainedEarningsAccumulatedLosses 2022-10-30 11011085 core:RetainedEarningsAccumulatedLosses 2021-10-30 11011085 bus:SmallEntities 2021-10-31 2022-10-30 11011085 bus:AuditExempt-NoAccountantsReport 2021-10-31 2022-10-30 11011085 bus:FullAccounts 2021-10-31 2022-10-30 11011085 bus:SmallCompaniesRegimeForAccounts 2021-10-31 2022-10-30 11011085 bus:PrivateLimitedCompanyLtd 2021-10-31 2022-10-30 11011085 core:ComputerEquipment 2022-10-30 11011085 core:ComputerEquipment 2021-10-30 11011085 core:ComputerEquipment 2021-10-31 2022-10-30
COMPANY REGISTRATION NUMBER: 11011085
ASSET SECURITIES LTD
FILLETED UNAUDITED FINANCIAL STATEMENTS
FOR THE YEAR ENDED
30 October 2022
ASSET SECURITIES LTD
STATEMENT OF FINANCIAL POSITION
30 October 2022
2022
2021
Note
£
£
£
FIXED ASSETS
Tangible assets
5
5,296
7,944
CURRENT ASSETS
Debtors
6
117,000
16,073
Cash at bank and in hand
2,976
333
---------
--------
119,976
16,406
CREDITORS: amounts falling due within one year
7
51,646
38,208
---------
--------
NET CURRENT ASSETS
171,622
54,614
---------
--------
TOTAL ASSETS LESS CURRENT LIABILITIES
176,918
62,558
CREDITORS: amounts falling due after more than one year
8
( 97,817)
( 45,000)
---------
--------
NET ASSETS
79,101
17,558
---------
--------
CAPITAL AND RESERVES
Called up share capital
100
100
Profit and loss account
79,001
17,458
--------
--------
SHAREHOLDERS FUNDS
79,101
17,558
--------
--------
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 30 October 2022 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 .
ASSET SECURITIES LTD
STATEMENT OF FINANCIAL POSITION (continued)
30 October 2022
These financial statements were approved by the board of directors and authorised for issue on 17 October 2023 , and are signed on behalf of the board by:
R Symonds
Director
Company registration number: 11011085
ASSET SECURITIES LTD
NOTES TO THE FINANCIAL STATEMENTS
YEAR ENDED 30 OCTOBER 2022
1. GENERAL INFORMATION
The company is a private company limited by shares, registered in England and Wales. The address of the registered office is 48 Dover Street, London, W1S 4FF, England.
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. The financial statements are prepared in sterling, which is the functional currency of the entity. The financial statements have also been prepared on the going concern basis. The directors consider the going concern basis to be appropriate as they have confirmed their ongoing support.
Revenue recognition
Turnover comprises revenue recognised by the company in respect of goods and services supplied during the year, exclusive of Value Added Tax.
Income tax
Deferred Taxation is provided using the liability method on all timing differences that have originated but not reversed at the balance sheet date.
Tangible assets
Tangible assets are initially recorded at cost, and subsequently state at cost less any accumulated depreciation.
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:
Equipment
-
5 years
Financial instruments
Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instrument is any contract that evidences a residual interest in the assets of the entity after deducting all of its financial liabilities.
4. EMPLOYEE NUMBERS
The average number of persons employed by the company during the year amounted to Nil (2021: Nil).
5. TANGIBLE ASSETS
Equipment
£
Cost
At 31 October 2021 and 30 October 2022
13,240
--------
Depreciation
At 31 October 2021
5,296
Charge for the year
2,648
--------
At 30 October 2022
7,944
--------
Carrying amount
At 30 October 2022
5,296
--------
At 30 October 2021
7,944
--------
6. DEBTORS
2022
2021
£
£
Trade debtors
70,000
16,073
Other debtors
47,000
---------
--------
117,000
16,073
---------
--------
7. CREDITORS: amounts falling due within one year
2022
2021
£
£
Bank loans and overdrafts
12,147
Trade creditors
6,685
Other creditors
( 63,793)
( 44,893)
--------
--------
( 51,646)
( 38,208)
--------
--------
8. CREDITORS: amounts falling due after more than one year
2022
2021
£
£
Bank loans and overdrafts
29,817
45,000
Other creditors
68,000
--------
--------
97,817
45,000
--------
--------