Registered number
04372121
Asset Recoveries UK Limited
Filleted Accounts
31 May 2023
Asset Recoveries UK Limited
Registered number: 04372121
Balance Sheet
as at 31 May 2023
Notes 2023 2022
£ £
Fixed assets
Investments 3 100 100
Current assets
Debtors 4 97,999 106,469
Cash at bank and in hand 496,662 492,724
594,661 599,193
Creditors: amounts falling due within one year 5 (264,637) (269,126)
Net current assets 330,024 330,067
Total assets less current liabilities 330,124 330,167
Creditors: amounts falling due after more than one year 6 (11,414) (20,000)
Net assets 318,710 310,167
Capital and reserves
Profit and loss account 318,710 310,167
Shareholder's funds 318,710 310,167
The director is satisfied that the company is entitled to exemption from the requirement to obtain an audit under section 477 of the Companies Act 2006.
The member has not required the company to obtain an audit in accordance with section 476 of the Act.
The director acknowledges his responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts.
The accounts have been prepared and delivered in accordance with the special provisions applicable to companies subject to the small companies regime. The profit and loss account has not been delivered to the Registrar of Companies.
Mr A P Hewitt
Director
Approved by the board on 7 February 2024
Asset Recoveries UK Limited
Notes to the Accounts
for the year ended 31 May 2023
1 Accounting policies
Basis of preparation
The accounts have been prepared under the historical cost convention and in accordance with FRS 102, The Financial Reporting Standard applicable in the UK and Republic of Ireland (as applied to small entities by section 1A of the standard).
Turnover
Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes.
Intangible fixed assets
Intangible fixed assets are measured at cost less accumulative amortisation and any accumulative impairment losses.
Tangible fixed assets
Tangible fixed assets are measured at cost less accumulative depreciation and any accumulative impairment losses. Depreciation is provided on all tangible fixed assets, other than freehold land, at rates calculated to write off the cost, less estimated residual value, of each asset evenly over its expected useful life, as follows:
Freehold buildings over 50 years
Leasehold land and buildings over the lease term
Plant and machinery over 5 years
Fixtures, fittings, tools and equipment over 5 years
Investments
Investments in subsidiaries, associates and joint ventures are measured at cost less any accumulated impairment losses. Listed investments are measured at fair value. Unlisted investments are measured at fair value unless the value cannot be measured reliably, in which case they are measured at cost less any accumulated impairment losses. Changes in fair value are included in the profit and loss account.
Debtors
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.
Creditors
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.
Taxation
A current tax liability is recognised for the tax payable on the taxable profit of the current and past periods. A current tax asset is recognised in respect of a tax loss that can be carried back to recover tax paid in a previous period. 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. 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.
2 Employees 2023 2022
Number Number
Average number of persons employed by the company 2 1
3 Investments
Investments in
subsidiary
undertakings
£
Cost
At 1 June 2022 100
At 31 May 2023 100
4 Debtors 2023 2022
£ £
Trade debtors 97,999 106,469
5 Creditors: amounts falling due within one year 2023 2022
£ £
Bank loans and overdrafts 6,389 5,000
Amounts owed to group undertakings and undertakings in which the company has a participating interest 254,554 254,554
Taxation and social security costs 2,194 8,222
Accruals and deferred income 1,500 1,350
264,637 269,126
6 Creditors: amounts falling due after one year 2023 2022
£ £
Bank loans 11,414 20,000
7 Other information
Asset Recoveries UK Limited is a private company limited by shares and incorporated in England. Its registered office is:
Nyala
Pinelands Road
Southampton
Hampshire
SO16 7HH
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