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REGISTERED NUMBER: SC383058 (Scotland)















Financial Statements for the Year Ended 28 February 2023

for

Asset Project Solutions Ltd

Asset Project Solutions Ltd (Registered number: SC383058)






Contents of the Financial Statements
for the Year Ended 28 February 2023




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 3


Asset Project Solutions Ltd

Company Information
for the Year Ended 28 February 2023







DIRECTORS: D W Ure
Mrs J E Ure





REGISTERED OFFICE: 64 Murray Place
Stirling
FK8 2BX





REGISTERED NUMBER: SC383058 (Scotland)






Asset Project Solutions Ltd (Registered number: SC383058)

Balance Sheet
28 February 2023

2023 2022
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 5,519 7,359

CURRENT ASSETS
Debtors 5 59,032 55,835
Cash at bank 1,398 12,431
60,430 68,266
CREDITORS
Amounts falling due within one year 6 24,957 25,907
NET CURRENT ASSETS 35,473 42,359
TOTAL ASSETS LESS CURRENT
LIABILITIES

40,992

49,718

PROVISIONS FOR LIABILITIES - 1,198
NET ASSETS 40,992 48,520

CAPITAL AND RESERVES
Called up share capital 100 100
Retained earnings 40,892 48,420
40,992 48,520

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 28 February 2023.

The members have not required the company to obtain an audit of its financial statements for the year ended 28 February 2023 in accordance with Section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for:
(a)ensuring that the company keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006 and
(b)preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of each financial year and of its profit or loss for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the company.

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

In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 28 November 2023 and were signed on its behalf by:




D W Ure - Director


Asset Project Solutions Ltd (Registered number: SC383058)

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

1. STATUTORY INFORMATION

Asset Project Solutions Ltd is a private company, limited by shares , registered in Scotland. The company's registered number and registered office address can be found on the Company Information page.

2. ACCOUNTING POLICIES

Basis of preparing the financial statements
These financial statements have been prepared in accordance with Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" including the provisions of Section 1A "Small Entities" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.

Turnover
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Plant and machinery etc - 25% on reducing balance

Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Income Statement, except to the extent that it relates to items recognised in other comprehensive income or directly in equity.

Current or deferred taxation assets and liabilities are not discounted.

Current tax is recognised at the amount of tax payable using the tax rates and laws that have been enacted or substantively enacted by the balance sheet date.

Deferred tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date.

Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from those in which they are recognised in financial statements. Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the year end and that are expected to apply to the reversal of the timing difference.

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.

Pension costs and other post-retirement benefits
The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 1 (2022 - 5 ) .

Asset Project Solutions Ltd (Registered number: SC383058)

Notes to the Financial Statements - continued
for the Year Ended 28 February 2023

4. TANGIBLE FIXED ASSETS
Computer
equipment
£   
COST
At 1 March 2022
and 28 February 2023 11,042
DEPRECIATION
At 1 March 2022 3,683
Charge for year 1,840
At 28 February 2023 5,523
NET BOOK VALUE
At 28 February 2023 5,519
At 28 February 2022 7,359

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Amounts owed by associates 56,995 50,000
Other debtors 2,037 5,835
59,032 55,835

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Taxation and social security 1,137 1,635
Other creditors 23,820 24,272
24,957 25,907

7. RELATED PARTY DISCLOSURES

Fusion Event Group Limited

In previous years, Asset Project Solutions Limited provided a loan of £50,000 to the above named company, being a company of which David Ure is a director. Further advances of £6,995 were made during the year under review. The balance due from that company at the balance sheet date was £56,995.

8. ULTIMATE CONTROLLING PARTY

The ultimate controlling party is D W Ure.