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REGISTERED NUMBER: 07530671 (England and Wales)







FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31ST OCTOBER 2023

FOR

ASG INVESTMENTS LIMITED

ASG INVESTMENTS LIMITED (REGISTERED NUMBER: 07530671)






CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31ST OCTOBER 2023




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 3


ASG INVESTMENTS LIMITED

COMPANY INFORMATION
FOR THE YEAR ENDED 31ST OCTOBER 2023







DIRECTOR: Mr S Scowcroft





REGISTERED OFFICE: Unit E
Halesfield 10
Telford
Shropshire
TF7 4QP





REGISTERED NUMBER: 07530671 (England and Wales)





ACCOUNTANTS: Stanton Ralph & Co Limited
Chartered Accountants
The Old Police Station
Whitburn Street
Bridgnorth
Shropshire
WV16 4QP

ASG INVESTMENTS LIMITED (REGISTERED NUMBER: 07530671)

BALANCE SHEET
31ST OCTOBER 2023

31.10.22 31.10.23
£    Notes £   
CURRENT ASSETS
160,720 Debtors 4 160,720
160,720 TOTAL ASSETS LESS CURRENT LIABILITIES 160,720

CAPITAL AND RESERVES
127,598 Called up share capital 6 127,598
142,544 Share premium 142,544
(109,422 ) Retained earnings (109,422 )
160,720 SHAREHOLDERS' FUNDS 160,720

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

The members have not required the company to obtain an audit of its financial statements for the year ended 31st October 2023 in accordance with Section 476 of the Companies Act 2006.

The director acknowledges his 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.

In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered.

The financial statements were approved and authorised for issue by the director and authorised for issue on 18th January 2024 and were signed by:





Mr S Scowcroft - Director


ASG INVESTMENTS LIMITED (REGISTERED NUMBER: 07530671)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31ST OCTOBER 2023

1. STATUTORY INFORMATION

ASG Investments 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 the provisions of Section 1A "Small Entities" of Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland " and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.

The financial statements are prepared in Sterling and contain information about ASG Investment Limited as an individual company.

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.

Investments
Investments are carried at cost less any provision for impairment.

Group relief
The benefit of group relief is accounted for within the tax charge of the profit making undertaking. No payment is made for group relief between group undertakings.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was NIL (2022 - NIL).

4. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.10.23 31.10.22
£    £   
Amounts owed by group undertakings 160,720 160,720

ASG INVESTMENTS LIMITED (REGISTERED NUMBER: 07530671)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31ST OCTOBER 2023

5. SECURED DEBTS

HSBC Invoice Finance Limited holds a fixed charge over trade debtors within the subsidiary undertaking, Libra Systems Limited, as security over amounts advanced, by an unlimited composite guarantee from the company and Libra Systems Limited. A floating charge has also been given over all of the assets of the group.

A cross guarantee exists between group companies where compensating balances are off-set against each other. As at the company's balance sheet date, there are no overdrawn bank balances.

6. CALLED UP SHARE CAPITAL

Allotted, issued and fully
paid:

Number: Class: Nominal 31.10.22 31.10.21
value: £    £   
45,000 Ordinary A £1 45,000 45,000
45,000 Ordinary C £1 45,000 45,000
20,000 Ordinary D £1 20,000 20,000
17,598 Ordinary E £1 17,598 17,598
127,598 127,598

7. CONTINGENT LIABILITIES

The company has entered into an unlimited composite guarantee with its bankers in respect of its own and its sister undertaking Libra Systems Limited's liabilities. At 31st October 2022 the group's total indebtedness under this guarantee is £658,580 (2021: £244,471).

8. ULTIMATE CONTROLLING PARTY

As a result of a group reorganisation on 26 October 2021 the company's parent undertaking is Simonsco Limited, a company incorporated in England and Wales.

The ultimate controlling party is considered to be Mr S Scowcroft and Mrs F Scowcroft by virtue of their controlling interest in Simonsco Limited.