Caseware UK (AP4) 2022.0.179 2022.0.179 2023-03-312023-03-31The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.false52022-04-01space planning5truetrue 03661385 2022-04-01 2023-03-31 03661385 2021-04-01 2022-03-31 03661385 2023-03-31 03661385 2022-03-31 03661385 c:Director1 2022-04-01 2023-03-31 03661385 d:MotorVehicles 2022-04-01 2023-03-31 03661385 d:MotorVehicles 2023-03-31 03661385 d:MotorVehicles 2022-03-31 03661385 d:MotorVehicles d:OwnedOrFreeholdAssets 2022-04-01 2023-03-31 03661385 d:CurrentFinancialInstruments 2023-03-31 03661385 d:CurrentFinancialInstruments 2022-03-31 03661385 d:CurrentFinancialInstruments d:WithinOneYear 2023-03-31 03661385 d:CurrentFinancialInstruments d:WithinOneYear 2022-03-31 03661385 d:ShareCapital 2023-03-31 03661385 d:ShareCapital 2022-03-31 03661385 d:RetainedEarningsAccumulatedLosses 2023-03-31 03661385 d:RetainedEarningsAccumulatedLosses 2022-03-31 03661385 d:FinancialAssetsDesignatedFairValueThroughProfitOrLoss 2023-03-31 03661385 d:FinancialAssetsDesignatedFairValueThroughProfitOrLoss 2022-03-31 03661385 c:FRS102 2022-04-01 2023-03-31 03661385 c:AuditExempt-NoAccountantsReport 2022-04-01 2023-03-31 03661385 c:AbridgedAccounts 2022-04-01 2023-03-31 03661385 c:PrivateLimitedCompanyLtd 2022-04-01 2023-03-31 03661385 2 2022-04-01 2023-03-31 iso4217:GBP xbrli:pure

Registered number: 03661385









ASCO SPACE PLANNING LIMITED








FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MARCH 2023


 
ASCO SPACE PLANNING LIMITED
REGISTERED NUMBER:03661385

BALANCE SHEET
AS AT 31 MARCH 2023

2023
2022
Note
£
£

Fixed assets
  

Tangible assets
 4 
24,992
12,323

  
24,992
12,323

Current assets
  

Debtors
 5 
207,105
252,342

Cash at bank and in hand
 6 
629,720
471,561

  
836,825
723,903

Creditors: amounts falling due within one year
 7 
(109,587)
(103,263)

Net current assets
  
 
 
727,238
 
 
620,640

Total assets less current liabilities
  
752,230
632,963

Net assets
  
752,230
632,963


Capital and reserves
  

Called up share capital 
  
100
100

Profit and loss account
  
752,130
632,863

  
752,230
632,963


The directors consider that the Company is entitled to exemption from audit under section 477 of the Companies Act 2006 and members have not required the Company to obtain an audit for the year in question in accordance with section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.

The financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies regime and in accordance with the provisions of FRS 102 Section 1A - small entities.

The financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime.

The Company has opted not to file the statement of income and retained earnings in accordance with provisions applicable to companies subject to the small companies' regime.

The financial statements were approved and authorised for issue by the board and were signed on its behalf on 15 November 2023.




Mr A F Skeet
Director

Page 1


 
ASCO SPACE PLANNING LIMITED
REGISTERED NUMBER:03661385
    
BALANCE SHEET (CONTINUED)
AS AT 31 MARCH 2023

The notes on pages 3 to 8 form part of these financial statements.

Page 2


 
ASCO SPACE PLANNING LIMITED
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2023

1.


GENERAL INFORMATION

he Company is incorporated in England and Wales and is limited by shares.  The registered office is located at Sherwood, 27 Hever Road, Edenbridge, Kent, TN8 5DH
The company's principal activity continues to be that of space planning.

2.ACCOUNTING POLICIES

 
2.1

BASIS OF PREPARATION OF FINANCIAL STATEMENTS

The financial statements have been prepared under the historical cost convention unless otherwise specified within these accounting policies and in accordance with Section 1A of Financial Reporting Standard 102, the Financial Reporting Standard applicable in the UK and the Republic of Ireland and the Companies Act 2006.

The members have agreed to the preparation of abridged accounts for this accounting period in accordance with Section 444(2A) of the Companies Act 2006.

The following principal accounting policies have been applied:

 
2.2

REVENUE

Revenue is recognised to the extent that it is probable that the economic benefits will flow to the Company and the revenue can be reliably measured. Revenue is measured as the fair value of the consideration received or receivable, excluding discounts, rebates and value added tax. The following criteria must also be met before revenue is recognised:

Sale of goods

Revenue from the sale of goods is recognised when all of the following conditions are satisfied:
the Company has transferred the significant risks and rewards of ownership to the buyer;
the Company retains neither continuing managerial involvement to the degree usually associated with ownership nor effective control over the goods sold;
the amount of revenue can be measured reliably;
it is probable that the Company will receive the consideration due under the transaction; and
the costs incurred or to be incurred in respect of the transaction can be measured reliably.

Rendering of services

Revenue from a contract to provide services is recognised in the period in which the services are provided in accordance with the stage of completion of the contract when all of the following conditions are satisfied:
the amount of revenue can be measured reliably;
it is probable that the Company will receive the consideration due under the contract;
the stage of completion of the contract at the end of the reporting period can be measured reliably; and
the costs incurred and the costs to complete the contract can be measured reliably.

Page 3


 
ASCO SPACE PLANNING LIMITED
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2023

2.ACCOUNTING POLICIES (CONTINUED)

 
2.3

INTEREST INCOME

Interest income is recognised in profit or loss using the effective interest method.

 
2.4

PENSIONS

Defined contribution pension plan

The Company operates a defined contribution plan for its employees. A defined contribution plan is a pension plan under which the Company pays fixed contributions into a separate entity. Once the contributions have been paid the Company has no further payment obligations.

The contributions are recognised as an expense in profit or loss when they fall due. Amounts not paid are shown in accruals as a liability in the Balance sheet. The assets of the plan are held separately from the Company in independently administered funds.

 
2.5

TAXATION

Tax is recognised in profit or loss except that a charge attributable to an item of income and expense recognised as other comprehensive income or to an item recognised directly in equity is also recognised in other comprehensive income or directly in equity respectively.

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

Page 4


 
ASCO SPACE PLANNING LIMITED
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2023

2.ACCOUNTING POLICIES (CONTINUED)

 
2.6

TANGIBLE FIXED ASSETS

Tangible fixed assets under the cost model are stated at historical cost less accumulated depreciation and any accumulated impairment losses. Historical cost includes expenditure that is directly attributable to bringing the asset to the location and condition necessary for it to be capable of operating in the manner intended by management.

Depreciation is charged so as to allocate the cost of assets less their residual value over their estimated useful lives, on a reducing balance basis.

Depreciation is provided on the following basis:

Motor vehicles
-
25%
reducing balance

The assets' residual values, useful lives and depreciation methods are reviewed, and adjusted prospectively if appropriate, or if there is an indication of a significant change since the last reporting date.

Gains and losses on disposals are determined by comparing the proceeds with the carrying amount and are recognised in profit or loss.

 
2.7

DEBTORS

Short-term debtors are measured at transaction price, less any impairment. Loans receivable are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method, less any impairment.

 
2.8

CASH AND CASH EQUIVALENTS

Cash is represented by cash in hand and deposits with financial institutions repayable without penalty on notice of not more than 24 hours. Cash equivalents are highly liquid investments that mature in no more than three months from the date of acquisition and that are readily convertible to known amounts of cash with insignificant risk of change in value.

 
2.9

CREDITORS

Short-term creditors are measured at the transaction price. Other financial liabilities, including bank loans, are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method.

Page 5


 
ASCO SPACE PLANNING LIMITED
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2023

2.ACCOUNTING POLICIES (CONTINUED)

 
2.10

FINANCIAL INSTRUMENTS

The Company has elected to apply the provisions of Section 11 “Basic Financial Instruments” of FRS 102 to all of its financial instruments.

The Company has elected to apply the recognition and measurement provisions of IFRS 9 Financial Instruments (as adopted by the UK Endorsement Board) with the disclosure requirements of Sections 11 and 12 and the other presentation requirements of FRS 102.

Financial instruments are recognised in the Company's Balance sheet when the Company becomes party to the contractual provisions of the instrument.

Financial assets and liabilities are offset, with the net amounts presented in the financial statements, when there is a legally enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously.

Basic financial assets

Basic financial assets, which include trade and other receivables, cash and bank balances, are initially measured at their transaction price including transaction costs and are subsequently carried at their amortised cost using the effective interest method, less any provision for impairment, unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest.

Discounting is omitted where the effect of discounting is immaterial. The Company's cash and cash equivalents, trade and most other receivables due with the operating cycle fall into this category of financial instruments.

 
2.11

DIVIDENDS

Equity dividends are recognised when they become legally payable. Interim equity dividends are recognised when paid. Final equity dividends are recognised when approved by the shareholders at an annual general meeting.


3.


EMPLOYEES

The average monthly number of employees, including directors, during the year was 5 (2022 - 5).

Page 6


 
ASCO SPACE PLANNING LIMITED
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2023

4.


TANGIBLE FIXED ASSETS





Motor vehicles

£



Cost or valuation


At 1 April 2022
35,282


Additions
21,000



At 31 March 2023

56,282



Depreciation


At 1 April 2022
22,959


Charge for the year on owned assets
8,331



At 31 March 2023

31,290



Net book value



At 31 March 2023
24,992



At 31 March 2022
12,323


5.


DEBTORS

2023
2022
£
£


Trade debtors
181,546
136,985

Other debtors
24,215
114,161

Prepayments and accrued income
1,344
1,197

207,105
252,343



6.


CASH AND CASH EQUIVALENTS

2023
2022
£
£

Cash at bank and in hand
629,720
471,561

629,720
471,561


Page 7


 
ASCO SPACE PLANNING LIMITED
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2023

7.


CREDITORS: Amounts falling due within one year

2023
2022
£
£

Trade creditors
500
20,310

Corporation tax
65,423
43,266

Other taxation and social security
38,891
35,088

Other creditors
239
232

Accruals and deferred income
4,534
4,367

109,587
103,263



8.


FINANCIAL INSTRUMENTS

2023
2022
£
£

Financial assets


Financial assets measured at fair value through profit or loss
629,720
471,561




Financial assets measured at fair value through profit or loss comprise solely of cash at bank and in hand.


9.


PENSION COMMITMENTS

The Company operates a defined contributions pension scheme. The assets of the scheme are held separately from those of the Company  in an independently administered fund. The pension cost charge represents contributions payable by the Company  to the fund and amounted to £2,720 (2022 - £1,083). Contributions totalling £239 (2022 - £232) were payable to the fund at the balance sheet date and are included in creditors.


10.


TRANSACTIONS WITH DIRECTORS

Included in other debtors due within one year is a loan to the directors, Mrs C L Skeet and Mr A F Skeet amounting to £24,215 (2022 - £114,161).  
Interest has been charged at the H.M. Revenue and Customs official rate and the loan was repaid within 6 months of the year end.


11.


CONTROLLING PARTY

The company was controlled throughout the current and previous period by its directors, Mrs C L Skeet and Mr A F Skeet, by virtue of the fact that between them they own all of the company's ordinary issued share capital.

 
Page 8