Registered number
07138327
Ask Ian How Limited
Unaudited Filleted Financial Statements
For the Year Ended
31 January 2023
Ask Ian How Limited
Registered number: 07138327
Balance Sheet as at 31 January 2023
Notes 2023 2022
£ £
Fixed assets
Tangible assets 3 368 661
Current assets
Debtors 4 797 1,577
Cash at bank and in hand 6,523 6,340
7,320 7,917
Creditors: amounts falling due within one year 5 (6,379) (10,257)
Net current assets/(liabilities) 941 (2,340)
Total assets less current liabilities 1,309 (1,679)
Provisions for liabilities (70) (125)
Net assets/(liabilities) 1,239 (1,804)
Capital and reserves
Called up share capital 1 1
Profit and loss account 1,238 (1,805)
Shareholder's funds 1,239 (1,804)
The director is satisfied that the company is entitled to exemption from the requirement to obtain an audit under section 477 of the Companies Act 2006.
The member has not required the company to obtain an audit in accordance with section 476 of the Act.
The director acknowledges his responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts.
The accounts have been prepared and delivered in accordance with the special provisions applicable to companies subject to the small companies regime. The profit and loss account has not been delivered to the Registrar of Companies.
Mr I.R. Webb
Director
Approved by the board on 20 October 2023
Ask Ian How Limited
Notes to the Accounts
for the year ended 31 January 2023
1 Accounting policies
Basis of preparation
The accounts have been prepared under the historical cost convention and in accordance with FRS 102, the Financial Reporting Standard applicable in the UK and Republic of Ireland (as applied to small entities by section 1A of the Standard).
Going concern
The director believes the company is experiencing healthy levels of sales and profitability in the current year and that it is well placed to manage its business risks successfully. Accordingly he has a reasonable expectation that the company has adequte resources to continue in operational existence for the foreseeable future. Thus he continues to adopt the going concern basis of accounting in preparing the financial statements.
Turnover
Turnover is measured at the fair value of the consideration received or receivable. Turnover is reduced for estimated customer returns, rebates and other similar allowances. Turnover from the sale of goods is recognised when goods are delivered and legal title has passed.
Tangible fixed assets
Tangible fixed assets are measured at cost less accumulative depreciation and any accumulative impairment losses. Depreciation is provided on all tangible fixed assets at rates calculated to write off the cost, less estimated residual value, of each asset evenly over its expected useful life, as follows:
Plant and equipment 3 years straight line basis
Taxation
A current tax liability is recognised for the tax payable on the taxable profit of the current and past periods. A current tax asset is recognised in respect of a tax loss that can be carried back to recover tax paid in a previous period. Deferred tax is recognised in respect of all timing differences between the recognition of income and expenses in the financial statements and their inclusion in tax assessments. 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. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date and that are expected to apply to the reversal of the timing difference. Current and deferred tax assets and liabilities are not discounted.
2 Employees 2023 2022
Number Number
Average number of persons employed by the
company (including director) during the year 1 1
3 Tangible fixed assets
Plant and Equipment
£
Cost
At 1 February 2022 2,861
At 31 January 2023 2,861
Depreciation
At 1 February 2022 2,200
Charge for the year 293
At 31 January 2023 2,493
Net book value
At 31 January 2023 368
At 31 January 2022 661
4 Debtors 2023 2022
£ £
Trade debtors 657 1,406
Prepayments 140 171
797 1,577
5 Creditors: amounts falling due within one year 2023 2022
£ £
Trade creditors - 1,371
Taxes and social security costs 1,275 36
Other creditors 4,004 7,885
Accruals 1,100 965
6,379 10,257
6 Other information
Ask Ian How Limited is a private company limited by shares and incorporated in England. Its registered office is : 204a Roberttown Lane, Roberttown, Liversedge, West Yorkshire, WF15 7LF.
The financial statements are presented in Sterling, which is the functional currency of the company.
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