Registered number
01012569
Astirvant Limited
Filleted Accounts
31 July 2023
Astirvant Limited
Registered number: 01012569
Balance Sheet
as at 31 July 2023
Notes 2023 2022
£ £
Fixed assets
Tangible assets 3 449,751 499,375
Investments 4 8,497 8,445
458,248 507,820
Current assets
Stocks 37,224 20,632
Debtors 5 355,771 321,154
Cash at bank and in hand 505,400 705,836
898,395 1,047,622
Creditors: amounts falling due within one year 6 (361,024) (441,211)
Net current assets 537,371 606,411
Total assets less current liabilities 995,619 1,114,231
Provisions for liabilities - (1,211)
Net assets 995,619 1,113,020
Capital and reserves
Called up share capital 10,000 10,000
Revaluation reserve 7 300,000 300,000
Profit and loss account 685,619 803,020
Shareholders' funds 995,619 1,113,020
The directors are satisfied that the company is entitled to exemption from the requirement to obtain an audit under section 477 of the Companies Act 2006.
The members have not required the company to obtain an audit in accordance with section 476 of the Act.
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.
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.
P Taylor
Director
Approved by the board on 9 April 2024
Astirvant Limited
Notes to the Accounts
for the year ended 31 July 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. Turnover includes revenue earned from the sale of goods and from the rendering of services. Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods have transferred to the buyer. Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs.
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:
Leasehold land and buildings 99 years straight line
Plant and machinery 15-33% reducing balance
Fixtures, fittings, tools and equipment 25% reducing balance
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.
Stocks
Stocks are measured at the lower of cost and estimated selling price less costs to complete and sell. Cost is determined using the first in first out method. The carrying amount of stock sold is recognised as an expense in the period in which the related revenue is recognised.
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. 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. 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.
Provisions
Provisions (ie liabilities of uncertain timing or amount) are recognised when there is an obligation at the reporting date as a result of a past event, it is probable that economic benefit will be transferred to settle the obligation and the amount of the obligation can be estimated reliably.
Leased assets
A lease is classified as a finance lease if it transfers substantially all the risks and rewards incidental to ownership. All other leases are classified as operating leases. The rights of use and obligations under finance leases are initially recognised as assets and liabilities at amounts equal to the fair value of the leased assets or, if lower, the present value of the minimum lease payments. Minimum lease payments are apportioned between the finance charge and the reduction in the outstanding liability using the effective interest rate method. The finance charge is allocated to each period during the lease so as to produce a constant periodic rate of interest on the remaining balance of the liability. Leased assets are depreciated in accordance with the company's policy for tangible fixed assets. If there is no reasonable certainty that ownership will be obtained at the end of the lease term, the asset is depreciated over the lower of the lease term and its useful life. Operating lease payments are recognised as an expense on a straight line basis over the lease term.
Pensions
Contributions to defined contribution plans are expensed in the period to which they relate.
2 Employees 2023 2022
Number Number
Average number of persons employed by the company 6 8
3 Tangible fixed assets
Land and buildings Plant and machinery etc Motor vehicles Total
£ £ £ £
Cost
At 1 August 2022 481,228 156,469 124,634 762,331
Disposals - - (75,361) (75,361)
At 31 July 2023 481,228 156,469 49,273 686,970
Depreciation
At 1 August 2022 51,248 150,366 61,342 262,956
Charge for the year 4,830 1,863 19,795 26,488
On disposals - - (52,225) (52,225)
At 31 July 2023 56,078 152,229 28,912 237,219
Net book value
At 31 July 2023 425,150 4,240 20,361 449,751
At 31 July 2022 429,980 6,103 63,292 499,375
4 Investments
Other
investments
£
Cost
At 1 August 2022 8,445
Revaluation 52
At 31 July 2023 8,497
5 Debtors 2023 2022
£ £
Trade debtors 318,072 290,622
Amounts owed by group undertakings and undertakings in which the company has a participating interest 1,653 2,526
Other debtors 36,046 28,006
355,771 321,154
6 Creditors: amounts falling due within one year 2023 2022
£ £
Trade creditors 186,386 191,570
Amounts owed to group undertakings and undertakings in which the company has a participating interest - -
Taxation and social security costs 29,990 4,674
Other creditors 144,648 244,967
361,024 441,211
7 Revaluation reserve 2023 2022
£ £
At 1 August 2022 300,000 -
Gain on revaluation of land and buildings - 300,000
At 31 July 2023 300,000 300,000
8 Related party transactions
During the year the company undertook the following transactions with Yorkshire Storage Equipment Co Limited, a company for which Mr P A Taylor and Mr H J Taylor also act as directors.
2023 2022
£ £
Sales to Yorkshire Storage Equipment Co Limited 370,481 394,886
Management charge to Yorkshire Storage Equipment Co Limited 12,500 10,000
Amount due from Yorkshire Storage Equipment Co Limited 43,153 33,545
9 Other information
Astirvant Limited is a private company limited by shares and incorporated in England. Its registered office is:
PO Box 27
Belmont Street
Oldham
OL1 2AX
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