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Company Registration No. 06746170 (England and Wales)
Assentech Sales Ltd Unaudited accounts for the year ended 31 December 2023
Assentech Sales Ltd Unaudited accounts Contents
Page
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Assentech Sales Ltd Company Information for the year ended 31 December 2023
Directors
Deborah Cox Ewart Cox
Company Number
06746170 (England and Wales)
Registered Office
Mount Pleasant Farm Gorran St. Austell Cornwall PL26 6LR England
Accountants
Wessex Commercial Solutions Limited Yeovil Innovation Centre Barracks Close Yeovil BA22 8RN
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Assentech Sales Ltd Statement of financial position as at 31 December 2023
2023 
2022 
Notes
£ 
£ 
Fixed assets
Intangible assets
27,464 
44,780 
Tangible assets
814,319 
172,321 
Investments
1 
1 
841,784 
217,102 
Current assets
Inventories
303,492 
40,000 
Debtors
351,188 
267,885 
Cash at bank and in hand
472,675 
240,705 
1,127,355 
548,590 
Creditors: amounts falling due within one year
(1,612,268)
(580,621)
Net current liabilities
(484,913)
(32,031)
Total assets less current liabilities
356,871 
185,071 
Creditors: amounts falling due after more than one year
(33,195)
(10,097)
Provisions for liabilities
Deferred tax
(28,219)
(19,008)
Net assets
295,457 
155,966 
Capital and reserves
Called up share capital
3 
3 
Profit and loss account
295,454 
155,963 
Shareholders' funds
295,457 
155,966 
For the year ending 31 December 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 15 March 2024 and were signed on its behalf by
Deborah Cox Director Company Registration No. 06746170
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Assentech Sales Ltd Notes to the Accounts for the year ended 31 December 2023
1
Statutory information
Assentech Sales Ltd is a private company, limited by shares, registered in England and Wales, registration number 06746170. The registered office is Mount Pleasant Farm, Gorran, St. Austell, Cornwall, PL26 6LR, England.
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.
3
Accounting policies
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.
Basis of preparation
The accounts have been prepared under the historical cost convention as modified by the revaluation of certain fixed assets.
Presentation currency
The accounts are presented in £ sterling.
Turnover
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. Turnover from the sale of goods is recognised when goods have been delivered to customers such that risks and rewards of ownership have transferred to them. Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs.
Tangible fixed assets and depreciation
Tangible assets are included at cost less depreciation and impairment. Depreciation has been provided at the following rates in order to write off the assets over their estimated useful lives:
Land & buildings
10% straight line
Plant & machinery
20% reducing balance
Motor vehicles
25% reducing balance
Fixtures & fittings
10%-33% reducing balance
Intangible fixed assets
Intangible fixed assets (including purchased goodwill and patents) are included at cost less accumulated amortisation. Amortisation - 33% straight line
Deferred taxation
Deferred tax arises as a result of including items of income and expenditure in taxation computations in periods different from those in which they are included in the company's accounts. Deferred tax is provided in full on timing differences which result in an obligation to pay more (or less) tax at a future date, at the average tax rates that are expected to apply when the timing differences reverse, based on current tax rates and laws. Deferred tax assets and liabilities are not discounted.
Research and development
Expenditure on research and development is written off in the year in which it is incurred.
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Assentech Sales Ltd Notes to the Accounts for the year ended 31 December 2023
Foreign exchange
Monetary 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 rates of exchange ruling at the date of the transaction. Exchange differences are taken into account in arriving at the operating profit.
Government grants
Government grants in relation to tangible fixed assets are credited to profit and loss account over the useful lives of the related assets, whereas those in relation to expenditure are credited when the expenditure is charged to profit and loss.
Leased assets
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.
Investments
Investments in shares are included at fair value.
Pension costs
The company operates a defined contribution scheme for the benefit of its employees. Contributions payable are recognised in the profit and loss account when due.
Inventories
Inventories have been valued at the lower of cost and estimated selling price less costs to complete and sell. In respect of work in progress and finished goods, cost includes a relevant proportion of overheads according to the stage of manufacturing/completion.
4
Intangible fixed assets
Other 
£ 
Cost
At 1 January 2023
96,590 
At 31 December 2023
96,590 
Amortisation
At 1 January 2023
51,810 
Charge for the year
17,316 
At 31 December 2023
69,126 
Net book value
At 31 December 2023
27,464 
At 31 December 2022
44,780 
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Assentech Sales Ltd Notes to the Accounts for the year ended 31 December 2023
5
Tangible fixed assets
Land & buildings 
Plant & machinery 
Motor vehicles 
Fixtures & fittings 
Total 
£ 
£ 
£ 
£ 
£ 
Cost or valuation
At cost 
At cost 
At cost 
At cost 
At 1 January 2023
154,564 
117,881 
71,183 
44,684 
388,312 
Additions
660,497 
- 
- 
3,542 
664,039 
At 31 December 2023
815,061 
117,881 
71,183 
48,226 
1,052,351 
Depreciation
At 1 January 2023
58,273 
81,543 
37,676 
38,499 
215,991 
Charge for the year
10,214 
7,527 
1,163 
3,137 
22,041 
At 31 December 2023
68,487 
89,070 
38,839 
41,636 
238,032 
Net book value
At 31 December 2023
746,574 
28,811 
32,344 
6,590 
814,319 
At 31 December 2022
96,291 
36,338 
33,507 
6,185 
172,321 
6
Investments
Subsidiary undertakings 
£ 
Valuation at 1 January 2023
1 
Valuation at 31 December 2023
1 
7
Debtors
2023 
2022 
£ 
£ 
Amounts falling due within one year
VAT
34,176 
- 
Trade debtors
187,344 
235,502 
Accrued income and prepayments
106,719 
11,459 
Other debtors
22,949 
20,924 
351,188 
267,885 
8
Creditors: amounts falling due within one year
2023 
2022 
£ 
£ 
Bank loans and overdrafts
8,224 
115,135 
VAT
- 
34,253 
Obligations under finance leases and hire purchase contracts
1,523 
4,957 
Trade creditors
371,298 
193,695 
Amounts owed to group undertakings and other participating interests
493,263 
201,406 
Taxes and social security
90,827 
26,957 
Other creditors
353,303 
4,218 
Deferred income
293,830 
- 
1,612,268 
580,621 
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Assentech Sales Ltd Notes to the Accounts for the year ended 31 December 2023
9
Creditors: amounts falling due after more than one year
2023 
2022 
£ 
£ 
Bank loans
22,975 
1,789 
Obligations under finance leases and hire purchase contracts
10,220 
8,308 
33,195 
10,097 
10
Average number of employees
During the year the average number of employees was 10 (2022: 11).
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