15
false
false
false
false
false
false
false
false
false
true
false
false
false
false
false
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No description of principal activity
2022-06-01
Sage Accounts Production Advanced 2021 - FRS102_2021
86,728
3,904
82,824
18,920
17,279
2,547
33,652
49,172
67,808
98,050
1,212
906
100,168
100,168
98,050
xbrli:pure
xbrli:shares
iso4217:GBP
SC375944
2022-06-01
2023-05-31
SC375944
2023-05-31
SC375944
2022-05-31
SC375944
2021-06-01
2022-05-31
SC375944
2022-05-31
SC375944
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2022-06-01
2023-05-31
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2022-06-01
2023-05-31
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2022-05-31
SC375944
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2023-05-31
SC375944
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2023-05-31
SC375944
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2022-05-31
SC375944
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2023-05-31
SC375944
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2022-05-31
SC375944
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2023-05-31
SC375944
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2022-05-31
SC375944
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2023-05-31
SC375944
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2022-05-31
SC375944
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2023-05-31
SC375944
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2022-05-31
SC375944
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2023-05-31
SC375944
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2022-05-31
SC375944
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2022-05-31
SC375944
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2023-05-31
SC375944
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2023-05-31
SC375944
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2023-05-31
SC375944
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SC375944
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2022-05-31
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2022-05-31
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2023-05-31
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2022-06-01
2023-05-31
SC375944
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2022-06-01
2023-05-31
COMPANY REGISTRATION NUMBER:
SC375944
Asset Guardian Solutions Limited |
|
Filleted Unaudited Financial Statements |
|
Asset Guardian Solutions Limited |
|
Year ended 31 May 2023
Statement of financial position |
1 |
|
|
Notes to the financial statements |
3 |
|
|
Asset Guardian Solutions Limited |
|
Statement of Financial Position |
|
31 May 2023
Fixed assets
Tangible assets |
5 |
49,172 |
67,808 |
Investments |
6 |
100,168 |
98,050 |
|
--------- |
--------- |
|
149,340 |
165,858 |
|
|
|
|
Current assets
Debtors |
7 |
347,660 |
284,788 |
Cash at bank and in hand |
428,567 |
468,375 |
|
--------- |
--------- |
|
776,227 |
753,163 |
|
|
|
|
Creditors: amounts falling due within one year |
8 |
379,178 |
377,661 |
|
--------- |
--------- |
Net current assets |
397,049 |
375,502 |
|
--------- |
--------- |
Total assets less current liabilities |
546,389 |
541,360 |
|
|
|
|
Provisions |
9,343 |
12,884 |
|
--------- |
--------- |
Net assets |
537,046 |
528,476 |
|
--------- |
--------- |
|
|
|
Asset Guardian Solutions Limited |
|
Statement of Financial Position (continued) |
|
31 May 2023
Capital and reserves
Called up share capital |
1,842 |
1,842 |
Share premium account |
26,667 |
26,667 |
Capital redemption reserve |
1,504 |
1,504 |
Profit and loss account |
507,033 |
498,463 |
|
--------- |
--------- |
Shareholders funds |
537,046 |
528,476 |
|
--------- |
--------- |
|
|
|
These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with Section 1A of FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.
In accordance with section 444 of the Companies Act 2006, the statement of income and retained earnings has not been delivered.
For the year ending 31 May 2023 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
Directors' responsibilities:
-
The members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476
;
-
The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements
.
These financial statements were approved by the
board of directors
and authorised for issue on
26 January 2024
, and are signed on behalf of the board by:
Company registration number:
SC375944
Asset Guardian Solutions Limited |
|
Notes to the Financial Statements |
|
Year ended 31 May 2023
1.
General information
The company is a private company limited by shares, registered in Scotland. The address of the registered office is 39 May Gardens, The Fairways, Wishaw, North Lanarkshire, Scotland, ML2 7PB.
2.
Statement of compliance
These financial statements have been prepared in compliance with Section 1A of FRS 102, 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland'.
3.
Accounting policies
Basis of preparation
The financial statements have been prepared on the historical cost basis.
The financial statements are prepared in sterling, which is the functional currency of the entity.
Revenue recognition
Turnover is measured at the fair value of the consideration received or receivable and represents amounts receivable for goods supplied and services rendered, stated net of discounts and of Value Added Tax. Revenue from the rendering of services is measured by reference to the state of completion of the service transaction at the end of the reporting period provided that the outcome can be reliably estimated. When the outcome cannot be reliably estimated, revenue is recognised only to the extent that expenses recognised are recoverable.
Taxation
The taxation expense represents the aggregate amount of current and deferred tax recognised in the reporting period. Tax is recognised in profit or loss, except to the extent that it relates to items recognised in other comprehensive income or directly in equity. In this case, tax is recognised in other comprehensive income or directly in equity, respectively. Current tax is recognised on taxable profit for the current and past periods. Current tax is measured at the amounts of tax expected to pay or recover using the tax rates and laws that have been enacted or substantively enacted at the reporting date.
Deferred tax is recognised in respect of all timing differences at the reporting date. Unrelieved tax losses and other deferred tax assets are recognised 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 that are expected to apply to the reversal of the timing difference.
Foreign currencies
Foreign currency transactions are initially recorded in the functional currency, by applying the spot exchange rate as at the date of the transaction. Monetary assets and liabilities denominated in foreign currencies are translated at the exchange rate ruling at the reporting date, with any gains or losses being taken to the profit and loss account.
Operating leases
Lease payments are recognised as an expense over the lease term on a straight-line basis. The aggregate benefit of lease incentives is recognised as a reduction to expense over the lease term, on a straight-line basis.
Tangible assets
Tangible assets are initially recorded at cost, and subsequently stated at cost less any accumulated depreciation and impairment losses.
Depreciation
Depreciation is calculated so as to write off the cost of an asset, less its residual value, over the useful economic life of that asset as follows:
|
Plant and machinery |
- |
15% reducing balance |
|
|
|
|
Investments
Fixed asset investments are initially recorded at cost, and subsequently stated at cost less any accumulated impairment losses.
Listed investments are measured at fair value with changes in fair value being recognised in profit or loss.
Investments in associates
Investments in associates accounted for in accordance with the cost model are recorded at cost less any accumulated impairment losses. Investments in associates accounted for in accordance with the fair value model are initially recorded at the transaction price. At each reporting date, the investments are measured at fair value, with changes in fair value recognised in other comprehensive income/profit or loss. Where it is impracticable to measure fair value reliably without undue cost or effort, the cost model will be adopted. Dividends and other distributions received from the investment are recognised as income without regard to whether the distributions are from accumulated profits of the associate arising before or after the date of acquisition.
Investments in joint ventures
Investments in jointly controlled entities accounted for in accordance with the cost model are recorded at cost less any accumulated impairment losses. Investments in jointly controlled entities accounted for in accordance with the fair value model are initially recorded at the transaction price. At each reporting date, the investments are measured at fair value, with changes in fair value recognised in other comprehensive income/profit or loss. Where it is impracticable to measure fair value reliably without undue cost or effort, the cost model will be adopted. Dividends and other distributions received from the investment are recognised as income without regard to whether the distributions are from accumulated profits of the joint venture arising before or after the date of acquisition.
Impairment of fixed assets
A review for indicators of impairment is carried out at each reporting date, with the recoverable amount being estimated where such indicators exist. Where the carrying value exceeds the recoverable amount, the asset is impaired accordingly. Prior impairments are also reviewed for possible reversal at each reporting date.
Financial instruments
A financial asset or a financial liability is recognised only when the entity becomes a party to the contractual provisions of the instrument. Basic financial instruments are initially recognised at the transaction price, unless the arrangement constitutes a financing transaction, where it is recognised at the present value of the future payments discounted at a market rate of interest for a similar debt instrument. Debt instruments are subsequently measured at amortised cost. Financial assets that are measured at cost or amortised cost are reviewed for objective evidence of impairment at the end of each reporting date. If there is objective evidence of impairment, an impairment loss is recognised in profit or loss immediately. For all equity instruments regardless of significance, and other financial assets that are individually significant, these are assessed individually for impairment. Other financial assets are either assessed individually or grouped on the basis of similar credit risk characteristics. Any reversals of impairment are recognised in profit or loss immediately, to the extent that the reversal does not result in a carrying amount of the financial asset that exceeds what the carrying amount would have been had the impairment not previously been recognised.
Defined contribution pension plans
Contributions to defined contribution plans are recognised as an expense in the period in which the related service is provided.
4.
Employee numbers
The average number of persons employed by the company during the year amounted to
15
(2022:
15
).
5.
Tangible assets
|
Plant and machinery |
|
£ |
Cost |
|
At 1 June 2022 |
86,728 |
Disposals |
(
3,904) |
|
-------- |
At 31 May 2023 |
82,824 |
|
-------- |
Depreciation |
|
At 1 June 2022 |
18,920 |
Charge for the year |
17,279 |
Disposals |
(
2,547) |
|
-------- |
At 31 May 2023 |
33,652 |
|
-------- |
Carrying amount |
|
At 31 May 2023 |
49,172 |
|
-------- |
At 31 May 2022 |
67,808 |
|
-------- |
|
|
6.
Investments
|
Other investments other than loans |
|
£ |
Cost |
|
At 1 June 2022 |
98,050 |
Additions |
1,212 |
Revaluations |
906 |
|
--------- |
At 31 May 2023 |
100,168 |
|
--------- |
Impairment |
|
At 1 June 2022 and 31 May 2023 |
– |
|
--------- |
|
|
Carrying amount |
|
At 31 May 2023 |
100,168 |
|
--------- |
At 31 May 2022 |
98,050 |
|
--------- |
|
|
7.
Debtors
|
2023 |
2022 |
|
£ |
£ |
Trade debtors |
337,828 |
281,333 |
Other debtors |
9,832 |
3,455 |
|
--------- |
--------- |
|
347,660 |
284,788 |
|
--------- |
--------- |
|
|
|
8.
Creditors:
amounts falling due within one year
|
2023 |
2022 |
|
£ |
£ |
Trade creditors |
17,670 |
20,094 |
Corporation tax |
48,334 |
36,405 |
Social security and other taxes |
51,595 |
18,503 |
Other creditors |
261,579 |
302,659 |
|
--------- |
--------- |
|
379,178 |
377,661 |
|
--------- |
--------- |
|
|
|
9.
Operating leases
The total future minimum lease payments under non-cancellable operating leases are as follows:
|
2023 |
2022 |
|
£ |
£ |
Later than 1 year and not later than 5 years |
26,373 |
18,891 |
|
-------- |
-------- |
|
|
|
10.
Directors' advances, credits and guarantees
The directors' loan accounts were not in debit at any time during the year.
11.
Related party transactions
Dividends totalling £200,000 (2022 - £200,000) were paid to the directors in the year.