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Registered Number: SC706261


 

 

 

ASPECT ADVISORY AND CONSULTING LIMITED


Unaudited Financial Statements
 


Period of accounts

Start date: 01 September 2022

End date: 31 August 2023
Directors John Douglas
Ruth Douglas
Registered Number SC706261
Registered Office 128 WOODSTOCK AVENUE
GLASGOW
G41 3QY
Accountants Blue Leaf Accounting Ltd
Market House
25 Market Square
Leighton Buzzard
LU7 1EU
1
Director's report and financial statements
The directors present his/her/their annual report and the financial statements for the year ended 31 August 2023.
Principal activities
Principal activity of the company during the financial year was of management consultancy.
Directors
The directors who served the company throughout the year were as follows:
John Douglas
Ruth Douglas
Statement of directors' responsibilities
The directors are responsible for preparing the directors' report and the financial statements in accordance with applicable law and regulations and in accordance with United Kingdom Generally Accepted Accounting Practice.
Company law requires the directors to prepare financial statements for each financial year. Under that law the directors have elected to prepare the financial statements in accordance with United Kingdom Generally Accepted Accounting Practice (Financial Reporting Standard 102). Under company law the directors must not approve the financial statements unless they are satisfied that they give a true and fair view of the state of affairs of the company and the profit or loss of the company for that period.
In preparing these financial statements, the directors are required to :
  • select suitable accounting policies and then apply them consistently
  • make judgements and accounting estimates that are reasonable and prudent
  • state whether applicable UK Accounting Standards have been followed, subject to any material departures disclosed and explained in the financial statements and
  • prepare the financial statements on the going concern basis unless it is inappropriate to presume that the company will continue in business.
The directors are responsible for keeping adequate accounting records that are sufficient to show and explain the company’s transactions and disclose with reasonable accuracy at any time the financial position of the company and enable them to ensure that the financial statements comply with the Companies Act 2006. The directors are also responsible for safeguarding the assets of the company and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.
The directors are responsible for the maintenance and integrity of the corporate and financial information included on the company's website. Legislation in the United Kingdom, governing the preparation and dissemination of financial statements, may differ from legislation in other jurisdictions

This report was approved by the board and signed on its behalf by:


----------------------------------
John Douglas
Director

Date approved: 16 January 2024
2
Accountants report
You consider that the company is exempt from an audit for the year ended 31 August 2023 . You have acknowledged, on the balance sheet, your responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts. These responsibilities include preparing accounts that give a true and fair view of the state of affairs of the company at the end of the financial year and of its profit or loss for the financial year.
In accordance with your instructions, we have prepared the accounts which comprise the Profit and Loss Account, the Statement of Comprehensive Income, the Balance Sheet, the Statement of Changes in Equity and the related notes from the accounting records of the company and on the basis of information and explanations you have given to us.
We have not carried out an audit or any other review, and consequently we do not express any opinion on these accounts.
Blue Leaf Accounting Ltd
31 August 2023



....................................................
Blue Leaf Accounting Ltd
Market House
25 Market Square
Leighton Buzzard
LU7 1EU
16 January 2024
3
 
 
Notes
 
2023
£
  2022
£
Turnover 73,835    58,509 
Cost of sales 10,245    11,276 
Gross profit 84,080    69,785 
Selling and distribution costs (63)   (149)
Administrative expenses (19,641)   (25,535)
Other operating income (1,190)   80 
Operating profit 63,186    44,181 
Profit/(Loss) on ordinary activities before taxation 63,186    44,181 
Tax on profit on ordinary activities (12,061)   (8,387)
Profit/(Loss) for the financial year 51,125    35,794 
 
4
 
 
Notes
 
2023
£
  2022
£
Fixed assets      
Intangible fixed assets 3 11,249    11,249 
Tangible fixed assets 4 1,396   
12,645    11,249 
Current assets      
Cash at bank and in hand 13,071    1,563 
Creditors: amount falling due within one year 5 (13,511)   (9,345)
Net current liabilities (440)   (7,782)
 
Total assets less current liabilities 12,205    3,467 
Creditors: amount falling due after more than one year 6 (1,063)   (2,950)
Net assets 11,142    517 
 

Capital and reserves
     
Called up share capital 1    1 
Profit and loss account 11,141    516 
Shareholder's funds 11,142    517 
 


For the year ended 31 August 2023 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Directors' responsibilities:
  1. The members have not required the company to obtain an audit of its accounts for the year in question in accordance with section 476.
  2. The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts.
These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime and in accordance with the provisions of Part 15 of the Companies Act 2006. In accordance with Section 444 of the Companies Act 2006, the income statement has not been delivered to the Registrar of Companies.
The financial statements were approved by the board of directors on 16 January 2024 and were signed on its behalf by:


-------------------------------
John Douglas
Director
5
  Equity share capital   Retained Earnings   Total
£ £ £
Profit for the year 35,794  35,794 
Total comprehensive income for the year 35,794  35,794 
Dividends (35,278) (35,278)
Shares issued 1 
Total investments by and distributions to owners 1  (35,278) (35,277)
At 31 August 2022 1  516  517 
At 01 September 2022 516  516 
Profit for the year 51,125  51,125 
Total comprehensive income for the year 51,125  51,125 
Dividends (40,500) (40,500)
Shares issued 1 
Total investments by and distributions to owners 1  (40,500) (40,499)
At 31 August 2023 1  11,141  11,142 
6
General Information
ASPECT ADVISORY AND CONSULTING LIMITED is a private company, limited by shares, registered in , registration number SC706261, registration address 128 WOODSTOCK AVENUE, GLASGOW, G41 3QY.

The presentation currency is £ sterling.
1.

Accounting policies

Significant accounting policies
Statement of compliance
These financial statements have been prepared in compliance with FRS 102 – The Financial Reporting Standard applicable in the UK and Republic of Ireland and the Companies Act 2006.
Basis of preparation
The financial statements have been prepared under the historical cost convention as modified by the revaluation of land and buildings and certain financial instruments measured at fair value in accordance with the accounting policies.
The financial statements are prepared in sterling which is the functional currency of the company.
Turnover
Turnover comprises the invoiced value of goods and services supplied by the company, net of Value Added Tax and trade discounts.
Taxation
Taxation represents the sum of tax currently payable and deferred tax. Tax is recognised in the statement of income, except to the extent that it relates to items recognised in other comprehensive income or directly in capital and reserves.
The company’s liability for current tax is calculated using the tax rates and laws that have been enacted or substantively enacted at the reporting date.
Current and deferred tax assets and liabilities are not discounted
Dividends
Proposed dividends are only included as liabilities in the statement of financial position when their payment has been approved by the shareholders prior to the statement of financial position date.
Intangible assets
Intangible assets (including purchased goodwill and patents) are amortised at rates calculated to write off the assets on a straight line basis over their estimated useful economic lives. Impairment of intangible assets is only reviewed where circumstances indicate that the carrying value of an asset may not be fully recoverable.
Tangible fixed assets
Tangible fixed assets, other than freehold land, are stated at cost or valuation less depreciation and any provision for impairment. Depreciation is provided at rates calculated to write off the cost or valuation of fixed assets, less their estimated residual value, over their expected useful lives on the following basis:
2.

Average number of employees

Average number of employees during the year was 1 (2022 : 1).
3.

Intangible fixed assets

Cost Other   Total
  £   £
At 01 September 2022 11,249    11,249 
Additions  
Disposals  
At 31 August 2023 11,249    11,249 
Amortisation
At 01 September 2022  
Charge for year  
On disposals  
At 31 August 2023  
Net book values
At 31 August 2023 11,249    11,249 
At 31 August 2022 11,249    11,249 


4.

Tangible fixed assets

Cost or valuation Computer Equipment   Total
  £   £
At 01 September 2022  
Additions 1,396    1,396 
Disposals  
At 31 August 2023 1,396    1,396 
Depreciation
At 01 September 2022  
Charge for year  
On disposals  
At 31 August 2023  
Net book values
Closing balance as at 31 August 2023 1,396    1,396 
Opening balance as at 01 September 2022  


5.

Creditors: amount falling due within one year

2023
£
  2022
£
Trade Creditors 590   
Corporation Tax 12,165    8,387 
PAYE & Social Security 756    958 
13,511    9,345 

6.

Creditors: amount falling due after more than one year

2023
£
  2022
£
Directors' Loan Accounts 1,063    2,950 
1,063    2,950 

7