Company registration number 07697982 (England and Wales)
ASAP SALES LIMITED
UNAUDITED FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2023
PAGES FOR FILING WITH REGISTRAR
ASAP SALES LIMITED
CONTENTS
Page
Accountants' report
1
Balance sheet
2
Notes to the financial statements
3 - 5
ASAP SALES LIMITED
ACCOUNTANTS' REPORT TO THE DIRECTOR ON THE PREPARATION OF THE UNAUDITED STATUTORY FINANCIAL STATEMENTS OF ASAP SALES LIMITED FOR THE YEAR ENDED 31 MARCH 2023
- 1 -

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the financial statements of ASAP Sales Limited for the year ended 31 March 2023 which comprise, the balance sheet and the related notes from the company’s accounting records and from information and explanations you have given us.

 

As a practising member firm of the Institute of Chartered Accountants in England and Wales (ICAEW), we are subject to its ethical and other professional requirements which are detailed at https://www.icaew.com/regulation.

This report is made solely to the board of directors of ASAP Sales Limited, as a body, in accordance with the terms of our engagement letter dated 11 July 2021. Our work has been undertaken solely to prepare for your approval the financial statements of ASAP Sales Limited and state those matters that we have agreed to state to the board of directors of ASAP Sales Limited, as a body, in this report in accordance with ICAEW Technical Release 07/16 AAF. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than ASAP Sales Limited and its board of directors as a body, for our work or for this report.

It is your duty to ensure that ASAP Sales Limited has kept adequate accounting records and to prepare statutory financial statements that give a true and fair view of the assets, liabilities, financial position and profit of ASAP Sales Limited. You consider that ASAP Sales Limited is exempt from the statutory audit requirement for the year.

We have not been instructed to carry out an audit or a review of the financial statements of ASAP Sales Limited. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory financial statements.

Malcolm Piper & Company Limited
19 October 2023
Chartered Accountants
Kingsnorth House
Blenheim Way
Birmingham
West Midlands
United Kingdom
B44 8LS
ASAP SALES LIMITED
BALANCE SHEET
AS AT
31 MARCH 2023
31 March 2023
- 2 -
2023
2022
Notes
£
£
£
£
Current assets
Debtors
3
41,000
6,600
Cash at bank and in hand
1,795
2,272
42,795
8,872
Creditors: amounts falling due within one year
4
(42,575)
(9,235)
Net current assets/(liabilities)
220
(363)
Capital and reserves
Called up share capital
5
100
100
Profit and loss reserves
120
(463)
Total equity
220
(363)

The director of the company has elected not to include a copy of the profit and loss account within the financial statements.true

For the financial year ended 31 March 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 19 October 2023
Mr M R Willetts
Director
Company Registration No. 07697982
ASAP SALES LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2023
- 3 -
1
Accounting policies
Company information

ASAP Sales Limited is a private company limited by shares incorporated in England and Wales. The registered office is Kingsnorth House, Blenheim Way, Birmingham, West Midlands, United Kingdom, B44 8LS.

1.1
Reporting period

The comparative accounting period was only 8 months long, having been shortened so as to bring its financial year end in line with other group companies. Consequently amounts shown in the financial statements for the previous 8 month period are not entirely comparable with those presented for the current year.

1.2
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. Monetary amounts in these financial statements are rounded to the nearest £.

The financial statements have been prepared under the historical cost convention. The principal accounting policies adopted are set out below.

1.3
Turnover

Turnover is recognised at the fair value of the consideration received or receivable for services provided in the normal course of business, and is shown net of VAT.

1.4
Cash and cash equivalents

Cash and cash equivalents are basic financial assets and include cash in hand, deposits held at call with banks, other short-term liquid investments with original maturities of three months or less, and bank overdrafts. Bank overdrafts are shown within borrowings in current liabilities.

1.5
Equity instruments

Equity instruments issued by the company are recorded at the proceeds received, net of transaction costs. Dividends payable on equity instruments are recognised as liabilities once they are no longer at the discretion of the company.

1.6
Taxation

The tax expense represents the sum of the tax currently payable and deferred tax.

Current tax

The tax currently payable is based on taxable profit for the year. Taxable profit differs from net profit as reported in the profit and loss account 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 liabilities are generally recognised for all timing differences and deferred tax assets are recognised to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits.

ASAP SALES LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2023
- 4 -
2
Employees

The average monthly number of persons (including directors) employed by the company during the year was:

2023
2022
Number
Number
Total
4
3
3
Debtors
2023
2022
Amounts falling due within one year:
£
£
Amounts owed by group undertakings
41,000
6,600
4
Creditors: amounts falling due within one year
2023
2022
£
£
Trade creditors
1,230
-
0
Amounts owed to group undertakings
20,397
1,063
Taxation and social security
17,982
4,983
Other creditors
2,966
3,189
42,575
9,235
5
Called up share capital
2023
2022
2023
2022
Ordinary share capital
Number
Number
£
£
Issued and fully paid
Ordinary shares of £1 each
100
100
100
100
6
Related party transactions
Transactions with related parties

During the year, the company undertook the following transactions with related parties:-

Name of related party
Nature of relationship
ASAP Express (Bristol) Limited
Fellow subsidiary
ASAP Express Limited
Fellow subsidiary
Description of
Income
Payments
transaction
2023
2022
2023
2022
£
£
£
£
ASAP Express (Bristol) Limited
Management charges
115,000
57,000
-
0
-
0
ASAP Express Limited
Management charges
115,000
57,000
-
0
-
0
ASAP SALES LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2023
6
Related party transactions
(Continued)
- 5 -
Balances with related parties

The following amounts were owed by and to fellow group companies at the year end. All amounts are unsecured, interest-free, and carry no stipulation as to terms of repayment.

Amounts owed by
Amounts owed to
related parties
related parties
2023
2022
2023
2022
£
£
£
£
As Soon As Possible Group Limited
-
0
-
0
3,497
1,063
ASAP Express Limited
41,000
1,500
-
0
-
0
ASAP Wxpress (Bristol) Limited
-
0
-
0
16,900
-
0
7
Parent company

The company's parent company is As Soon As Possible Group Limited, a company registered in England and Wales, whose registered office address is Kingsnorth House, Blenheim Way, Birmingham, West Midlands, B44 8LS.

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