Asecho Developments Limited Filleted Accounts Cover
Asecho Developments Limited
Company No. 09853500
Information for Filing with The Registrar
31 March 2023
Asecho Developments Limited Balance Sheet Registrar
at
31 March 2023
Company No.
09853500
Notes
2023
2022
£
£
Fixed assets
Investment property
4
130,000130,000
130,000130,000
Current assets
Stocks
5
25,55625,556
Cash at bank and in hand
606774
26,16226,330
Creditors: Amount falling due within one year
6
(68,726)
(70,350)
Net current liabilities
(42,564)
(44,020)
Total assets less current liabilities
87,43685,980
Creditors: Amounts falling due after more than one year
7
(98,754)
(98,773)
Net liabilities
(11,318)
(12,793)
Capital and reserves
Called up share capital
100100
Fair value reserve
3,9813,981
Profit and loss account
9
(15,399)
(16,874)
Total equity
(11,318)
(12,793)
These accounts have been prepared in accordance with the special provisions applicable to companies subject to the small companies regime of the Companies Act 2006.
For the year ended 31 March 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 Companies Act 2006 with respect to accounting records and the preparation of accounts.
As permitted by section 444 (5A)of the Companies Act 2006 the directors have not delivered to the Registrar a copy of the company's profit and loss account.
Approved by the board on 20 March 2024 and signed on its behalf by:
Christopher Haworth
Director
20 March 2024
Asecho Developments Limited Notes to the Accounts Registrar
for the year ended 31 March 2023
1
General information
Asecho Developments Limited is a private company limited by shares and incorporated in England and Wales.
Its registered number is: 09853500
Its registered office is:
Old Flint Barn
Bury Road
Barnham
Thetford
IP24 2PL
The accounts have been prepared in accordance with FRS 102 Section 1A - The Financial Reporting Standard applicable in the UK and Republic of Ireland and the Companies Act 2006.
2
Accounting policies
Turnover
Turnover is measured at the fair value of the consideration received or receivable. Turnover is reduced for rebates and other similar allowances.
Taxation
Income tax expense represents the sum of the tax currently payable and deferred tax.

The tax currently payable is based on taxable profit for the year. Taxable profit differs from profit as reported in the profit and loss account because of items of income or expense that are taxable or deductible in other years and items that are never taxable or deductible. The Company's liability for current tax is calculated using tax rates that have been enacted or substantively enacted by the end of the reporting period.

Deferred tax is recognised on timing differences between the carrying amounts of assets and liabilities in the financial statements and the corresponding tax bases used in the computation of taxable profit. Deferred tax liabilities are generally recognised for all taxable temporary differences. Deferred tax assets are generally recognised for all deductible timing differences to the extent that it is probable that taxable profits will be available against which those deductible temporary differences can be utilised. The carrying amount of deferred tax assets is reviewed at the end of each reporting period and reduced to the extent that it is no longer probable that sufficient taxable profits will be available to allow all or part of the asset to be recovered.

Deferred tax assets and liabilities are measured at the tax rates that are expected to apply in the period in which the liability is settled or the asset realised, based on tax rates (and tax laws) that have been enacted or substantively enacted by the end of the reporting period.

Current or deferred tax for the year is recognised in profit or loss, except when they relate to items that are recognised in other comprehensive income or directly in equity, in which case, the current and deferred tax is also recognised in other comprehensive income or directly in equity respectively.
Freehold investment property
Investment properties are revalued annually and any surplus or deficit is dealt with through the profit and loss account.

No depreciation is provided in respect of investment properties.
Stocks
Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell. Costs, which comprise direct production costs, are based on the method most appropriate to the type of inventory class, but usually on a first-in-first-out basis. Overheads are charged to profit or loss as incurred. Net realisable value is based on the estimated selling price less any estimated completion or selling costs.

When stocks are sold, the carrying amount of those stocks is recognised as an expense in the period in which the related revenue is recognised. The amount of any write-down of stocks to net realisable value and all losses of stocks are recognised as an expense in the period in which the write-down or loss occurs. The amount of any reversal of any write-down of stocks is recognised as a reduction in the amount of inventories recognised as an expense in the period in which the reversal occurs.

Work in progress is reflected in the accounts on a contract by contract basis by recording revenue and related costs as contract activity progresses.
Trade and other debtors
Trade and other debtors are initially recognised at fair value and thereafter stated at amortised cost using the effective interest method, less impairment losses for bad and doubtful debts.
Trade and other creditors
Short term creditors are measured at the transaction price. Other financial liabilities, including bank loans, are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method.
Provisions
Provisions are made where an event has taken place that gives the Company a legal or constructive obligation that probably requires settlement by a transfer of economic benefit, and a reliable estimate can be made of the amount of the obligation.

Provisions are charged as an expense to the profit and loss account in the year that the Company becomes aware of the obligation, and are measured at the best estimate at balance sheet date of the expenditure required to settle the obligation, taking into account relevant risks and uncertainties.

When payments are eventually made, they are charged to the provision carried in the balance sheet.
3
Employees
2023
2022
Number
Number
The average monthly number of employees (including directors) during the year was:
00
4
Investment property
Freehold Investment Property
£
Valuation
At 1 April 2022
130,000
At 31 March 2023
130,000
5
Stocks
2023
2022
£
£
Work in progress
25,55625,556
25,55625,556
6
Creditors:
amounts falling due within one year
2023
2022
£
£
Loans from directors
62,02664,489
Other creditors
4,0404,040
Accruals and deferred income
2,6601,821
68,72670,350
7
Creditors:
amounts falling due after more than one year
2023
2022
£
£
Bank loans and overdrafts
98,75498,773
98,75498,773
8
Creditors: secured liabilities
2023
2022
£
£
The aggregate amount of secured liabilities included within creditors
98,75498,773
The loan is secured on the property to which it relates.
9
Reserves
Fair Value Reserve
Total other reserves
£
£
At 1 April 2021
3,981
3,981
At 31 March 2022 and 1 April 2022
3,981
3,981
At 31 March 2023
3,9813,981
Profit and loss account - includes all current and prior period retained profits and losses.
Asecho Developments Limited0985350031 March 202301 April 2022false20 March 2024BTCSoftware AP Solution 2023 10.4.2010.4.20true098535002022-04-012023-03-31098535002023-03-31098535002022-03-3109853500core:WithinOneYear2023-03-3109853500core:WithinOneYear2022-03-3109853500core:AfterOneYear2023-03-3109853500core:AfterOneYear2022-03-3109853500core:ShareCapital2023-03-3109853500core:ShareCapital2022-03-3109853500core:RevaluationReserve2023-03-3109853500core:RevaluationReserve2022-03-3109853500core:RetainedEarningsAccumulatedLosses2023-03-3109853500core:RetainedEarningsAccumulatedLosses2022-03-3109853500countries:UnitedKingdom2022-04-012023-03-3109853500bus:RegisteredOffice2022-04-012023-03-31098535002021-04-012022-03-3109853500core:FreeholdInvestmentProperty2022-04-0109853500core:FreeholdInvestmentProperty2023-03-3109853500core:Secured2023-03-3109853500core:Secured2022-03-3109853500core:RevaluationReserve2021-04-0109853500core:OtherReservesSubtotal2021-04-0109853500core:RevaluationReserve2022-04-0109853500core:OtherReservesSubtotal2022-04-0109853500core:OtherReservesSubtotal2023-03-3109853500core:RetainedEarningsAccumulatedLosses2022-04-012023-03-31098535002022-04-0109853500bus:SmallEntities2022-04-012023-03-3109853500bus:FullAccounts2022-04-012023-03-3109853500bus:AuditExempt-NoAccountantsReport2022-04-012023-03-3109853500bus:Director12022-04-012023-03-3109853500bus:PrivateLimitedCompanyLtd2022-04-012023-03-31iso4217:GBPxbrli:pure