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Registration number: 07936043

Ancaster Professional Services Limited

Annual Report and Unaudited Financial Statements

for the Year Ended 28 February 2023

 

Ancaster Professional Services Limited

Contents

Company Information

1

Balance Sheet

2

Notes to the Unaudited Financial Statements

3 to 6

 

Ancaster Professional Services Limited

Company Information

Directors

T P Williams

J Williams

Registered office

21A Newland
Lincoln
LN1 1XP

Bankers

TSB Business Bank
37 Castlegate
Newark
Nottinghamshire
NG24 1BD

Accountants

Atkinson Saul Fairholm Limited
Chartered Accountants
21A Newland
Lincoln
LN1 1XP

 

Ancaster Professional Services Limited

(Registration number: 07936043)
Balance Sheet as at 28 February 2023

Note

2023
£

2022
£

Fixed assets

 

Tangible assets

4

1,309

919

Current assets

 

Debtors

5

14,440

10,059

Cash at bank and in hand

 

15,858

15,350

 

30,298

25,409

Creditors: Amounts falling due within one year

6

(20,281)

(17,663)

Net current assets

 

10,017

7,746

Total assets less current liabilities

 

11,326

8,665

Provisions for liabilities

(145)

(45)

Net assets

 

11,181

8,620

Capital and reserves

 

Called up share capital

100

100

Profit and loss account

11,081

8,520

Shareholders' funds

 

11,181

8,620

For the financial year ending 28 February 2023 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Directors' responsibilities:

The members have not required the company to obtain an audit of its accounts for the year in question in accordance with section 476; and

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

These financial statements have been prepared in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006.

These financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime and the option not to file the Directors' Report and the Profit and Loss Account has been taken.

Approved and authorised by the Board on 4 May 2023 and signed on its behalf by:
 

.........................................

T P Williams
Director

 

Ancaster Professional Services Limited

Notes to the Unaudited Financial Statements for the Year Ended 28 February 2023

1

General information

The company is a private company limited by share capital, incorporated in England and Wales.

The address of its registered office is:
21A Newland
Lincoln
LN1 1XP

The principal place of business is:
Rousden Cottage
Main Street
Grantham
Lincolnshire
NG32 3RY

These financial statements were authorised for issue by the Board on 4 May 2023.

2

Accounting policies

Summary of significant accounting policies and key accounting estimates

The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.

Statement of compliance

These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A - 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' and the Companies Act 2006.

Basis of preparation

These financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.

Revenue recognition

Turnover comprises the fair value of the consideration received or receivable for the sale of goods and provision of services in the ordinary course of the company’s activities. Turnover is shown net of sales/value added tax, returns, rebates and discounts.

The company recognises revenue when:
The amount of revenue can be reliably measured;
it is probable that future economic benefits will flow to the entity;
and specific criteria have been met for each of the company's activities.

Tax

The tax expense for the period comprises current and deferred tax. Tax is recognised in profit or loss, except that a change attributable to an item of income or expense recognised as other comprehensive income is also recognised directly in other comprehensive income.

The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the reporting date in the countries where the company operates and generates taxable income.

 

Ancaster Professional Services Limited

Notes to the Unaudited Financial Statements for the Year Ended 28 February 2023

Deferred tax is recognised in respect of all timing differences between taxable profits and profits reported in the financial statements.

Unrelieved tax losses and other deferred tax assets are recognised when 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.

Tangible assets

Tangible assets are stated in the balance sheet at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.

The cost of tangible assets includes directly attributable incremental costs incurred in their acquisition and installation.

Depreciation

Depreciation is charged so as to write off the cost of assets, other than land and properties under construction over their estimated useful lives, as follows:

Asset class

Depreciation method and rate

Office building

20% reducing balance

Office equipment

25% reducing balance

Cash and cash equivalents

Cash and cash equivalents comprise cash on hand and call deposits, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value.

Trade debtors

Trade debtors are amounts due from customers for merchandise sold or services performed in the ordinary course of business.

Trade debtors are recognised initially at the transaction price. They are subsequently measured at amortised cost using the effective interest method, less provision for impairment. A provision for the impairment of trade debtors is established when there is objective evidence that the company will not be able to collect all amounts due according to the original terms of the receivables.

Trade creditors

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Accounts payable are classified as current liabilities if the company does not have an unconditional right, at the end of the reporting period, to defer settlement of the creditor for at least twelve months after the reporting date. If there is an unconditional right to defer settlement for at least twelve months after the reporting date, they are presented as non-current liabilities.

Trade creditors are recognised initially at the transaction price and subsequently measured at amortised cost using the effective interest method.

Share capital

Ordinary shares are classified as equity. Equity instruments are measured at the fair value of the cash or other resources received or receivable, net of the direct costs of issuing the equity instruments. If payment is deferred and the time value of money is material, the initial measurement is on a present value basis.

 

Ancaster Professional Services Limited

Notes to the Unaudited Financial Statements for the Year Ended 28 February 2023

Dividends

Dividend distribution to the company’s shareholders is recognised as a liability in the financial statements in the reporting period in which the dividends are declared.

Financial instruments

Financial instruments are classified and accounted for, according to the substance of the contractual arrangement, as financial assets, financial liabilities or equity instruments. An equity instrument is any contract that evidences a residual interest in the assets of the company after deducting all of its liabilities. Where shares are issued, any component that creates a financial liability of the company is presented as a liability in the balance sheet. The corresponding dividends relating to the liability are charged as interest expense in the profit and loss account.
 

3

Staff numbers

The average number of persons employed by the company (including directors with contracts of employment) during the year was 0 (2022 - 0).

4

Tangible assets

Land and buildings
£

Furniture, fittings and equipment
 £

Total
£

Cost or valuation

At 1 March 2022

3,245

886

4,131

Additions

-

792

792

At 28 February 2023

3,245

1,678

4,923

Depreciation

At 1 March 2022

2,564

648

3,212

Charge for the year

136

266

402

At 28 February 2023

2,700

914

3,614

Carrying amount

At 28 February 2023

545

764

1,309

At 28 February 2022

681

238

919

Included within the net book value of land and buildings above is £545 (2022 - £681) in respect of short leasehold land and buildings.
 

 

Ancaster Professional Services Limited

Notes to the Unaudited Financial Statements for the Year Ended 28 February 2023

5

Debtors

2023
£

2022
£

Trade debtors

14,440

9,678

Other debtors

-

381

14,440

10,059

6

Creditors

Creditors: amounts falling due within one year

Note

2023
£

2022
£

Due within one year

 

Trade creditors

 

-

192

Taxation and social security

 

19,746

17,355

Other creditors

 

535

116

 

20,281

17,663