Caseware UK (AP4) 2023.0.135 2023.0.135 2023-07-312023-07-312022-08-014falseDistribution of hazardous materials4truetrueThe members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006. 11480875 2022-08-01 2023-07-31 11480875 2021-08-01 2022-07-31 11480875 2023-07-31 11480875 2022-07-31 11480875 c:Director1 2022-08-01 2023-07-31 11480875 d:PlantMachinery 2022-08-01 2023-07-31 11480875 d:PlantMachinery 2023-07-31 11480875 d:PlantMachinery 2022-07-31 11480875 d:PlantMachinery d:OwnedOrFreeholdAssets 2022-08-01 2023-07-31 11480875 d:ComputerEquipment 2022-08-01 2023-07-31 11480875 d:ComputerEquipment 2023-07-31 11480875 d:ComputerEquipment 2022-07-31 11480875 d:ComputerEquipment d:OwnedOrFreeholdAssets 2022-08-01 2023-07-31 11480875 d:OwnedOrFreeholdAssets 2022-08-01 2023-07-31 11480875 d:ComputerSoftware 2023-07-31 11480875 d:ComputerSoftware 2022-07-31 11480875 d:CurrentFinancialInstruments 2023-07-31 11480875 d:CurrentFinancialInstruments 2022-07-31 11480875 d:CurrentFinancialInstruments d:WithinOneYear 2023-07-31 11480875 d:CurrentFinancialInstruments d:WithinOneYear 2022-07-31 11480875 d:ShareCapital 2023-07-31 11480875 d:ShareCapital 2022-07-31 11480875 d:RetainedEarningsAccumulatedLosses 2023-07-31 11480875 d:RetainedEarningsAccumulatedLosses 2022-07-31 11480875 c:FRS102 2022-08-01 2023-07-31 11480875 c:AuditExempt-NoAccountantsReport 2022-08-01 2023-07-31 11480875 c:FullAccounts 2022-08-01 2023-07-31 11480875 c:PrivateLimitedCompanyLtd 2022-08-01 2023-07-31 11480875 d:WithinOneYear 2023-07-31 11480875 d:WithinOneYear 2022-07-31 11480875 d:BetweenOneFiveYears 2023-07-31 11480875 d:BetweenOneFiveYears 2022-07-31 11480875 d:ComputerSoftware d:OwnedIntangibleAssets 2022-08-01 2023-07-31 11480875 e:PoundSterling 2022-08-01 2023-07-31 iso4217:GBP xbrli:pure

Registered number: 11480875










ASPLINS CHASE LIMITED








UNAUDITED

FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 JULY 2023

 
ASPLINS CHASE LIMITED
REGISTERED NUMBER: 11480875

BALANCE SHEET
AS AT 31 JULY 2023

2023
2022
Note
£
£

Fixed assets
  

Intangible assets
 4 
1,909
2,136

Tangible assets
 5 
2,412
727

  
4,321
2,863

Current assets
  

Debtors: amounts falling due within one year
 6 
74,611
53,320

Cash at bank and in hand
  
38,009
29,404

  
112,620
82,724

Creditors: amounts falling due within one year
 7 
(93,559)
(83,457)

Net current assets/(liabilities)
  
 
 
19,061
 
 
(733)

  

Net assets
  
23,382
2,130


Capital and reserves
  

Called up share capital 
  
1
1

Profit and loss account
  
23,381
2,129

  
23,382
2,130


Page 1

 
ASPLINS CHASE LIMITED
REGISTERED NUMBER: 11480875
    
BALANCE SHEET (CONTINUED)
AS AT 31 JULY 2023

The director considers 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 director acknowledges his 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 22 March 2024.





G N Miles
Director

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

Page 2

 
ASPLINS CHASE LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JULY 2023

1.


General information

Asplins Chase Limited is a private Company limited by shares, incorporated in England and Wales (registered number: 11480875). Its registered office is Unit 4 Third Avenue, Off Greasley, Nottingham, NG6 8ND. The principal activity of the Company throughout the year continued to be that of the distribution of hazardous materials.

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 Company's functional and presentation currency is pounds sterling.

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, value added tax and other sales taxes. The following criteria must also be met before revenue is recognised:

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.

 
2.3

Operating leases: the Company as lessee

Rentals paid under operating leases are charged to the Statement of Income and Retained Earnings on a straight line basis over the lease term.

 
2.4

Government grants

Grants are accounted under the accruals model as permitted by FRS 102. Grants relating to expenditure on tangible fixed assets are credited to the Statement of Income and Retained Earnings  at the same rate as the depreciation on the assets to which the grant relates. The deferred element of grants is included in creditors as deferred income.
Grants of a revenue nature are recognised in the Statement of Income and Retained Earnings in the same period as the related expenditure.

Page 3

 
ASPLINS CHASE LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JULY 2023

2.Accounting policies (continued)

 
2.5

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 the Statement of Income and Retained Earnings 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.

 
2.6

Current taxation

Tax is recognised in the Statement of Income and Retained Earnings.
The current 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.

 
2.7

Intangible assets

Intangible assets are initially recognised at cost. After recognition, under the cost model, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses.

All intangible assets are considered to have a finite useful life. If a reliable estimate of the useful life cannot be made, the useful life shall not exceed ten years.

 
2.8

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, as follows. 

Depreciation is provided on the following basis:

Plant and machinery
-
25%
reducing balance
Computer equipment
-
20%
straight line

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 the Statement of Income and Retained Earnings.

Page 4

 
ASPLINS CHASE LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JULY 2023

2.Accounting policies (continued)

 
2.9

Financial instruments

The Company only enters into basic financial instruments transactions that result in the recognition of financial assets and liabilities such as bank and cash balances, trade and other accounts receivable and payable, loans from banks and other third parties and loans to and from related parties.
Debt instruments (other than those wholly repayable or receivable within one year), including loans and other accounts receivable and payable, are initially measured at the transaction price and subsequently at amortised cost using the effective interest method. Debt instruments that are payable or receivable within one year, typically trade debtors and creditors, are measured, initially and subsequently, at the undiscounted amount of the cash or other consideration expected to be paid or received. However, if the arrangements of a short-term instrument constitute a financing transaction,  the financial asset or liability is measured, initially, at the present value of the future cash flow discounted at a market rate of interest for a similar debt instrument and subsequently at amortised cost.
Financial assets and liabilities are offset and the net amount reported in the Balance Sheet when there is an 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.


3.


Employees

The average monthly number of employees, including directors, during the year was 4 (2022 - 4).

Page 5

 
ASPLINS CHASE LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JULY 2023

4.


Intangible assets




Computer software

£



Cost


At 1 August 2022
2,268



At 31 July 2023

2,268



Amortisation


At 1 August 2022
132


Charge for the year on owned assets
227



At 31 July 2023

359



Net book value



At 31 July 2023
1,909



At 31 July 2022
2,136



Page 6

 
ASPLINS CHASE LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JULY 2023

5.


Tangible fixed assets





Plant and machinery
Computer equipment
Total

£
£
£



Cost or valuation


At 1 August 2022
-
917
917


Additions
2,500
125
2,625


Disposals
-
(193)
(193)



At 31 July 2023

2,500
849
3,349



Depreciation


At 1 August 2022
-
190
190


Charge for the year on owned assets
625
157
782


Disposals
-
(35)
(35)



At 31 July 2023

625
312
937



Net book value



At 31 July 2023
1,875
537
2,412



At 31 July 2022
-
727
727


6.


Debtors

2023
2022
£
£


Trade debtors
3,191
10,591

Other debtors
688
1,566

Prepayments and accrued income
70,732
41,163

74,611
53,320


Page 7

 
ASPLINS CHASE LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JULY 2023

7.


Creditors: Amounts falling due within one year

2023
2022
£
£

Trade creditors
22,084
10,596

Amounts owed to related undertakings
52,553
58,127

Corporation tax
4,789
370

Other taxation and social security
3,389
5,822

Other creditors
5,994
5,992

Accruals
4,750
2,550

93,559
83,457



8.


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 £1,025 (2022: £1,053).  Contributions totalling £nil (2022 - £nil) were payable to the fund at the Balance Sheet date and are included in creditors.


9.


Commitments under operating leases

At 31 July 2023 the Company had future minimum lease payments due under non-cancellable operating leases for each of the following periods:

2023
2022
£
£


Not later than 1 year
24,700
24,700

Later than 1 year and not later than 5 years
20,583
45,283

45,283
69,983

 
Page 8