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REGISTERED NUMBER: 12175447 (England and Wales)













Financial Statements

For The Year Ended 31 August 2023

for

Aspire Day Service Limited

Aspire Day Service Limited (Registered number: 12175447)






Contents of the Financial Statements
For The Year Ended 31 August 2023




Page

Company Information 1

Abridged Balance Sheet 2

Notes to the Financial Statements 4


Aspire Day Service Limited

Company Information
For The Year Ended 31 August 2023







DIRECTORS: Mr J L Wilson
Mrs H L A Wilson





REGISTERED OFFICE: Newland House
The Point
Weaver Road
LINCOLN
Lincolnshire
LN6 3QN





REGISTERED NUMBER: 12175447 (England and Wales)





ACCOUNTANTS: Nicholsons
Chartered Accountants
Newland House
The Point
Weaver Road
LINCOLN
Lincolnshire
LN6 3QN

Aspire Day Service Limited (Registered number: 12175447)

Abridged Balance Sheet
31 August 2023

2023 2022
Notes £    £    £    £   
FIXED ASSETS
Intangible assets 4 57,000 66,500
Tangible assets 5 120,037 109,415
177,037 175,915

CURRENT ASSETS
Debtors 78,448 54,009
Cash at bank and in hand 56,761 70,672
135,209 124,681
CREDITORS
Amounts falling due within one year 117,885 93,868
NET CURRENT ASSETS 17,324 30,813
TOTAL ASSETS LESS CURRENT
LIABILITIES

194,361

206,728

CREDITORS
Amounts falling due after more than
one year

(157,009

)

(186,423

)

PROVISIONS FOR LIABILITIES (31,294 ) (20,297 )
NET ASSETS 6,058 8

Aspire Day Service Limited (Registered number: 12175447)

Abridged Balance Sheet - continued
31 August 2023

2023 2022
Notes £    £    £    £   
CAPITAL AND RESERVES
Called up share capital 2 2
Retained earnings 6,056 6
6,058 8

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 August 2023.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 August 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.

All the members have consented to the preparation of an abridged Income Statement and an abridged Balance Sheet for the year ended 31 August 2023 in accordance with Section 444(2A) of the Companies Act 2006.

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 7 February 2024 and were signed on its behalf by:





Mr J L Wilson - Director


Aspire Day Service Limited (Registered number: 12175447)

Notes to the Financial Statements
For The Year Ended 31 August 2023

1. STATUTORY INFORMATION

Aspire Day Service Limited is a private company, limited by shares , registered in England and Wales. 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 and rebates.

Goodwill
Goodwill, being the amount paid in connection with the acquisition of a business in 2019, is being amortised evenly over its estimated useful life of ten years.

Intangible assets
Intangible assets are initially measured at cost. After initial recognition, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses.

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 - 25% on reducing balance
Fixtures and fittings - 25% on reducing balance
Motor vehicles - 25% on reducing balance
Computer equipment - 25% on reducing balance

Financial instruments
Only basic financial instruments as defined in FRS 102 are held. Financial assets and financial liabilities are recognised in the accounts only when the entity becomes party to the contractual provisions of the instrument and their measurement basis is as follows:
Financial assets - trade and other debtors are basic financial instruments and are debt instruments measured at amortised cost. Prepayments are not financial instruments.
Cash at bank is classified as a basic financial instrument and is measured at transaction price.
Financial liabilities - trade creditors, accruals and other creditors are basic financial instruments, and are measured at amortised cost. Where a financial liability constitutes a financing transaction it is initially and subsequently measured at the present value of future payments, discounted at a market rate of interest.


Aspire Day Service Limited (Registered number: 12175447)

Notes to the Financial Statements - continued
For The Year Ended 31 August 2023

2. ACCOUNTING POLICIES - continued
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.

Hire purchase and leasing commitments
Assets obtained under hire purchase are capitalised in the balance sheet and are depreciated over their estimated useful lives.

The interest element of these obligations is charged to the income statement over the relevant period. The capital element of the future payments is treated as a liability.

Rentals paid under operating leases are charged to the income statement on a straight line basis over the period of the lease.

Leases are classified as finance leases whenever the terms of the lease transfer substantially all the risks and rewards of ownership to the lessee. All other leases are classified as operating leases.

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 30 (2022 - 25 ) .

Aspire Day Service Limited (Registered number: 12175447)

Notes to the Financial Statements - continued
For The Year Ended 31 August 2023

4. INTANGIBLE FIXED ASSETS
Totals
£   
COST
At 1 September 2022
and 31 August 2023 95,000
AMORTISATION
At 1 September 2022 28,500
Amortisation for year 9,500
At 31 August 2023 38,000
NET BOOK VALUE

At 31 August 2023 57,000
At 31 August 2022 66,500

5. TANGIBLE FIXED ASSETS
Totals
£   
COST
At 1 September 2022 159,451
Additions 41,598
At 31 August 2023 201,049
DEPRECIATION
At 1 September 2022 50,036
Charge for year 30,976
At 31 August 2023 81,012
NET BOOK VALUE
At 31 August 2023 120,037
At 31 August 2022 109,415

Aspire Day Service Limited (Registered number: 12175447)

Notes to the Financial Statements - continued
For The Year Ended 31 August 2023

6. LEASING AGREEMENTS

Minimum lease payments fall due as follows:

Hire purchase contracts
2023 2022
£    £   
Net obligations repayable:
Within one year 20,992 16,005
Between one and five years 62,490 73,640
83,482 89,645

Non-cancellable operating leases
2023 2022
£    £   
Within one year 53,914 52,584

7. SECURED DEBTS

The following secured debts are included within creditors:

2023 2022
£    £   
Hire purchase 83,482 89,645

The hire purchase liability is secured against the asset to which it relates.

8. DIRECTORS' ADVANCES, CREDITS AND GUARANTEES

The following advances and credits to a director subsisted during the years ended 31 August 2023 and 31 August 2022:

2023 2022
£    £   
Mr J L Wilson
Balance outstanding at start of year 3,031 -
Amounts advanced 78,049 107,086
Amounts repaid (67,500 ) (104,055 )
Amounts written off - -
Amounts waived - -
Balance outstanding at end of year 13,580 3,031

Aspire Day Service Limited (Registered number: 12175447)

Notes to the Financial Statements - continued
For The Year Ended 31 August 2023

8. DIRECTORS' ADVANCES, CREDITS AND GUARANTEES - continued

The loan to directors is unsecured and interest is charged at 2.00% (2022: 2.25%).