Company Registration No. 04963599 (England and Wales)
ASK Technology Limited
Unaudited accounts
for the year ended 30 November 2023
ASK Technology Limited
Unaudited accounts
Contents
ASK Technology Limited
Company Information
for the year ended 30 November 2023
Directors
A K Clisby
S Jones
K S Pearson
Company Number
04963599 (England and Wales)
Registered Office
Unit 11 Grafton Way
West Ham Industrial Estate
Basingstoke
Hampshire
RG22 6HY
Accountants
Woods Russell Limited
First Floor Unit S
Loddon Business Centre
Roentgen Road
Basingstoke
RG24 8NG
ASK Technology Limited
Statement of financial position
as at 30 November 2023
Tangible assets
211,278
298,610
Inventories
286,511
300,811
Cash at bank and in hand
2,807,335
1,480,909
Creditors: amounts falling due within one year
(3,447,496)
(2,097,177)
Net current assets
1,186,800
584,666
Total assets less current liabilities
1,398,078
883,276
Creditors: amounts falling due after more than one year
(29,343)
(258,629)
Provisions for liabilities
Deferred tax
(47,377)
(51,691)
Net assets
1,321,358
572,956
Called up share capital
36,000
36,000
Capital redemption reserve
4,000
4,000
Profit and loss account
1,281,358
532,956
Shareholders' funds
1,321,358
572,956
For the year ending 30 November 2023 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies. The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
These accounts 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 FRS 102 Section 1A - Small Entities. The profit and loss account has not been delivered to the Registrar of Companies.
The financial statements were approved by the Board of Directors and authorised for issue on 12 February 2024 and were signed on its behalf by
A K Clisby
Director
Company Registration No. 04963599
ASK Technology Limited
Notes to the Accounts
for the year ended 30 November 2023
ASK Technology Limited is a private company, limited by shares, registered in England and Wales, registration number 04963599. The registered office is Unit 11 Grafton Way, West Ham Industrial Estate, Basingstoke, Hampshire, RG22 6HY.
2
Compliance with accounting standards
The accounts have been prepared in accordance with the provisions of FRS 102 Section 1A Small Entities. There were no material departures from that standard.
The principal accounting policies adopted in the preparation of the financial statements are set out below and have remained unchanged from the previous year, and also have been consistently applied within the same accounts.
The accounts have been prepared under the historical cost convention as modified by the revaluation of certain fixed assets.
The accounts are presented in £ sterling.
Turnover represents the value, net of VAT and discounts, of goods provided to customers and work carried out in respect of services provided to customers.
Tangible fixed assets policy
Tangible fixed assets under the cost model are stated at historical cost less accumulated depreciation and any accumulated impairment losses.
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 disposal are determined by comparing the proceeds with the carrying amount and are recognised in the Income Statement.
Depreciation has been provided at the following rates in order to write off the assets over their estimated useful lives:
Land & buildings
20% Straight Line
Plant & machinery
20% Straight Line
Computer equipment
20% Straight Line
Other tangible fixed assets
20% Straight Line
Rentals applicable to operating leases where substantially all of the benefits and risks of ownership remain with the lessor are charged against profit on a straight line basis over the lease term.
Assets held under finance leases and hire purchase contracts are capitalised and depreciated over their useful lives. The corresponding lease or hire purchase obligation is treated in the balance sheet as a liability. The interest element of rental obligations is charged to the profit and loss account over the period of the lease at a constant proportion of the outstanding balance of capital repayments.
Stocks and work-in-progress are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items. Cost includes all direct expenditure and an appropriate proportion of fixed and variable overheads.
ASK Technology Limited
Notes to the Accounts
for the year ended 30 November 2023
The company only enters into basic financial instrument transactions that result in recognition of financial assets and liabilities like trade and other debtors and creditors, loans from banks and other third parties and related parties.
Short term debtors are measured at the transaction price less any impairment.
Short term creditors are measured at transaction price.
4
Tangible fixed assets
Land & buildings
Plant & machinery
Computer equipment
Total
Cost or valuation
At cost
At cost
At cost
At 1 December 2022
46,201
832,706
76,405
955,312
Additions
-
4,945
4,915
9,860
At 30 November 2023
46,201
837,651
81,320
965,172
At 1 December 2022
42,365
549,552
64,785
656,702
Charge for the year
1,747
87,216
8,229
97,192
At 30 November 2023
44,112
636,768
73,014
753,894
At 30 November 2023
2,089
200,883
8,306
211,278
At 30 November 2022
3,836
283,154
11,620
298,610
Carrying values included above held under finance leases and hire purchase contracts:
£
£
- Plant & machinery
131,576
136,324
Amounts falling due within one year
Trade debtors
1,404,211
873,663
Accrued income and prepayments
136,239
26,460
6
Creditors: amounts falling due within one year
2023
2022
Obligations under finance leases and hire purchase contracts
52,417
69,829
Trade creditors
446,430
247,480
Taxes and social security
452,531
172,683
Other creditors
319,564
261,838
Loans from directors
2,176,554
1,345,347
ASK Technology Limited
Notes to the Accounts
for the year ended 30 November 2023
7
Creditors: amounts falling due after more than one year
2023
2022
Obligations under finance leases and hire purchase contracts
29,343
71,129
Allotted, called up and fully paid:
30,000 Ordinary A shares of £1 each
30,000
30,000
6,000 Ordinary B shares of £1 each
6,000
6,000
9
Capital commitments
2023
2022
Amounts contracted but not provided for in the accounts
266,250
-
The company has contracted into £266,250 of leasehold improvements to be undertaken after the balance sheet date.
10
Operating lease commitments
2023
2022
At 30 November 2023 the company had the following future minimum lease payments under non-cancellable operating leases for each of the following periods:
Later than one year and not later than five years
175,281
-
11
Average number of employees
During the year the average number of employees was 47 (2022: 38).