2022-07-012023-06-302023-06-30false01927353ASYLUM MODELS AND EFFECTS 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ASYLUM MODELS AND EFFECTS LIMITED

Registered Number
01927353
(England and Wales)

Unaudited Financial Statements for the Year ended
30 June 2023

ASYLUM MODELS AND EFFECTS LIMITED
Company Information
for the year from 1 July 2022 to 30 June 2023

Director

CURTIS, Mark Adrian

Registered Address

46 Weir Road
Wimbledon
SW19 8UG

Registered Number

01927353 (England and Wales)
ASYLUM MODELS AND EFFECTS LIMITED
Balance Sheet as at
30 June 2023

Notes

2023

2022

£

£

£

£

Fixed assets
Tangible assets30,96555,796
30,96555,796
Current assets
Stocks589,733112,197
Debtors6221,665111,822
Cash at bank and on hand363,843360,288
675,241584,307
Creditors amounts falling due within one year7(248,778)(267,384)
Net current assets (liabilities)426,463316,923
Total assets less current liabilities457,428372,719
Net assets457,428372,719
Capital and reserves
Called up share capital300300
Other reserves(40,000)(40,000)
Profit and loss account497,128412,419
Shareholders' funds457,428372,719
The financial statements were approved and authorised for issue by the Director on 15 November 2023, and are signed on its behalf by:
CURTIS, Mark Adrian
Director
Registered Company No. 01927353
ASYLUM MODELS AND EFFECTS LIMITED
Notes to the Financial Statements
for the year ended 30 June 2023

1.Statutory information
The company is a private company limited by shares and registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.
2.Compliance with applicable reporting framework
The financial statements have been prepared in compliance with FRS 102 Section 1A as it applies to the financial statements for the period and there were no material departures from the reporting standard.
3.Accounting policies
Property, plant and equipment policy
Tangible fixed assets are stated at cost or valuation less depreciation. Depreciation is provided on all tangible fixed assets as follows:
Stocks policy
Inventories are valued at the lower of cost and estimated selling price (less any associated costs to enable such sales to complete).
Revenue recognition policy
Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods have transferred to the buyer. Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs.
Deferred tax policy
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, except for revalued land and investment property where the tax rate that applies to the sale of the asset is used. Current and deferred tax assets and liabilities are not discounted.
Foreign currency translation and operations policy
Transactions in foreign currencies are initially recognised at the rate of exchange ruling at the date of the transaction. At the end of each reporting period foreign currency monetary items are translated at the closing rate of exchange. Non-monetary items that are measured at historical cost are translated at the rate ruling at the date of the transaction. All differences are charged to profit or loss.
Employee benefits policy
Contributions to defined contribution plans are expensed in the period to which they relate.
4.Employee information

20232022
Average number of employees during the year2322
5.Stocks

2023

2022

££
Work in progress89,733112,197
Total89,733112,197
6.Debtors

2023

2022

££
Trade debtors / trade receivables106,760-
Other debtors1119
Prepayments and accrued income114,904111,703
Total221,665111,822
Short term debtors are measured at transaction price (which is usually the invoice price), less any impairment losses for bad and doubtful debts. Loans and other financial assets are initially recognised at transaction price including any transaction costs and subsequently measured at amortised cost determined using the effective interest method, less any impairment losses for bad and doubtful debts.
7.Creditors within one year

2023

2022

££
Trade creditors / trade payables41,05588,909
Bank borrowings and overdrafts30,73940,493
Taxation and social security97,37458,994
Other creditors79,61078,988
Total248,778267,384
Short term creditors are measured at transaction price (which is usually the invoice price). Loans and other financial liabilities are initially recognised at transaction price net of any transaction costs and subsequently measured at amortised cost determined using the effective interest method.