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REGISTERED NUMBER: 07710102 (England and Wales)















UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 JULY 2023

FOR

ASCENT PROFESSIONAL SERVICES LTD

ASCENT PROFESSIONAL SERVICES LTD (REGISTERED NUMBER: 07710102)

CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JULY 2023










Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


ASCENT PROFESSIONAL SERVICES LTD

COMPANY INFORMATION
FOR THE YEAR ENDED 31 JULY 2023







DIRECTORS: M W Bennett
F E H Ingram
S L Pass





SECRETARY: M W Bennett





REGISTERED OFFICE: Littlecroft
Avenue Road
Cranleigh
Surrey
GU6 7LE





BUSINESS ADDRESS: The Old Town Hall
4 Queens Road
London
SW19 8YB





REGISTERED NUMBER: 07710102 (England and Wales)





ACCOUNTANTS: Graham Paul Limited
Court House
Court Road
Bridgend
CF31 1BE

ASCENT PROFESSIONAL SERVICES LTD (REGISTERED NUMBER: 07710102)

BALANCE SHEET
31 JULY 2023

2023 2022
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 71,706 78,209

CURRENT ASSETS
Debtors 5 362,627 339,403
Cash at bank and in hand 965,645 1,425,724
1,328,272 1,765,127
CREDITORS
Amounts falling due within one year 6 351,434 615,973
NET CURRENT ASSETS 976,838 1,149,154
TOTAL ASSETS LESS CURRENT
LIABILITIES

1,048,544

1,227,363

PROVISIONS FOR LIABILITIES 17,926 19,552
NET ASSETS 1,030,618 1,207,811

CAPITAL AND RESERVES
Called up share capital 101 101
Retained earnings 1,030,517 1,207,710
SHAREHOLDERS' FUNDS 1,030,618 1,207,811

ASCENT PROFESSIONAL SERVICES LTD (REGISTERED NUMBER: 07710102)

BALANCE SHEET - continued
31 JULY 2023


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

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

The directors acknowledge their 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 by the Board of Directors and authorised for issue on 1 March 2024 and were signed on its behalf by:





M W Bennett - Director


ASCENT PROFESSIONAL SERVICES LTD (REGISTERED NUMBER: 07710102)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JULY 2023


1. STATUTORY INFORMATION

Ascent Professional Services Ltd 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.

The presentation currency of the financial statements is the Pound Sterling (£).


2. ACCOUNTING POLICIES

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

Turnover
Turnover is measured at the fair value of the consideration received or receivable of work done in the year, excluding discounts, rebates and VAT and is recognised when the right to consideration is earned.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Plant and machinery etc - 20% on reducing balance and 20% on cost

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 is recognised in respect of all significant and material 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.

Foreign currencies
Assets and liabilities in foreign currencies are translated into sterling at the rates of exchange ruling at the balance sheet date. Transactions in foreign currencies are translated into sterling at the rate of exchange ruling at the date of transaction. Exchange differences are taken into account in arriving at the operating result.

Pension costs and other post-retirement benefits

ASCENT PROFESSIONAL SERVICES LTD (REGISTERED NUMBER: 07710102)

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


2. ACCOUNTING POLICIES - continued

The company operates an auto enrolment pension scheme and also pays into the director's personal pension scheme. Contributions payable to the pension schemes are charged to the income statement in the period to which they relate.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 12 (2022 - 11 ) .

4. TANGIBLE FIXED ASSETS
Plant and
machinery
etc
£   
COST
At 1 August 2022 104,391
Additions 9,579
At 31 July 2023 113,970
DEPRECIATION
At 1 August 2022 26,182
Charge for year 16,082
At 31 July 2023 42,264
NET BOOK VALUE
At 31 July 2023 71,706
At 31 July 2022 78,209

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Trade debtors 313,465 328,857
Other debtors 49,162 10,546
362,627 339,403

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Trade creditors 4,492 4,152
Taxation and social security 292,259 551,772
Other creditors 54,683 60,049
351,434 615,973

ASCENT PROFESSIONAL SERVICES LTD (REGISTERED NUMBER: 07710102)

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


7. FINANCIAL COMMITMENTS

The company had total commitments at the balance sheet date of £18,960 (2022 - £3,465).

8. DIRECTORS' ADVANCES, CREDITS AND GUARANTEES

The following advances and credits to a director subsisted during the years ended 31 July 2023 and 31 July 2022:

2023 2022
£    £   
M W Bennett
Balance outstanding at start of year 4,558 5,237
Amounts advanced 636 821
Amounts repaid (1,500 ) (1,500 )
Amounts written off - -
Amounts waived - -
Balance outstanding at end of year 3,694 4,558

The above loan to the director is interest free.

9. RELATED PARTY DISCLOSURES

During the year:

- the sister of a director was in receipt of an interest free loan from the company. The amount due to the company at the balance sheet date and included within other debtors was £30,000. (2022 - £nil). The balance was repaid in full after the year end.

- the company was in receipt of an interest free loan from a director. The amount due to the director at the balance sheet date and included within other creditors was £3,982 (2022 - £4,182).

- interest free loan accounts existed between companies in which a director of Ascent Professional Services Ltd was also a director and shareholder. The amount due to the related parties at the balance sheet date and included within other creditors was £40,990 (2022 - £40,990) while the amounts due from the related parties and included in other debtors was £3,902 (2022 - £3,902).