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Registration number: 04200398

Total Asset Solutions Limited

Unaudited Filleted Financial Statements

for the Period from 1 October 2022 to 31 March 2024

 

Total Asset Solutions Limited

Contents

Company Information

1

Balance Sheet

2

Notes to the Unaudited Financial Statements

3 to 7

 

Total Asset Solutions Limited

Company Information

Directors

D Lever

S Lever

Company secretary

S Lever

Registered office

28 Lymington Bottom Road
Medstead
Alton
Hampshire
GU34 5EW

Accountants

A J Wheeler Ltd - Trading as Howard Smith & Co
Chartered Certified Accountants
338 London Road
Portsmouth
Hampshire
PO2 9JY

 

Total Asset Solutions Limited

(Registration number: 04200398)
Balance Sheet as at 31 March 2024

Note

2024
£

2022
£

Fixed assets

 

Tangible assets

4

8,752

14,005

Other financial assets

5

-

85,000

 

8,752

99,005

Current assets

 

Debtors

6

25,181

9,774

Cash at bank and in hand

 

536,956

385,027

 

562,137

394,801

Creditors: Amounts falling due within one year

7

(77,279)

(64,383)

Net current assets

 

484,858

330,418

Net assets

 

493,610

429,423

Capital and reserves

 

Called up share capital

1,000

1,000

Retained earnings

492,610

428,423

Shareholders' funds

 

493,610

429,423

For the financial period ending 31 March 2024 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 accounts for the period in question in accordance with section 476; and

The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

These financial statements have been prepared in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006.

These financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime. As permitted by section 444 (5A) of the Companies Act 2006, the directors have not delivered to the registrar a copy of the Profit and Loss Account.

Approved and authorised by the Board on 15 July 2024 and signed on its behalf by:
 

.........................................
D Lever
Director

 

Total Asset Solutions Limited

Notes to the Unaudited Financial Statements for the Period from 1 October 2022 to 31 March 2024

1

General information

The company is a private company limited by share capital, incorporated in England and Wales.

The address of its registered office is:
28 Lymington Bottom Road
Medstead
Alton
Hampshire
GU34 5EW

These financial statements were authorised for issue by the Board on 15 July 2024.

2

Accounting policies

Summary of significant accounting policies and key accounting estimates

The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.

Statement of compliance

These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A smaller entities - 'The Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland' and the Companies Act 2006 (as applicable to companies subject to the small companies' regime).

Basis of preparation

These financial statements have been prepared using the historical cost convention.

Revenue recognition

Turnover comprises the fair value of the consideration received or receivable for the sale of goods and provision of services in the ordinary course of the company’s activities. Turnover is shown net of sales/value added tax, returns, rebates and discounts.

The company recognises revenue when:
The amount of revenue can be reliably measured;
it is probable that future economic benefits will flow to the entity;
and specific criteria have been met for each of the company's activities.

Tax

The tax expense for the period comprises current tax. Tax is recognised in profit or loss, except that a change attributable to an item of income or expense recognised as other comprehensive income is also recognised directly in other comprehensive income.

The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the reporting date in the countries where the company operates and generates taxable income.

Tangible assets

Tangible assets are stated in the balance sheet at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.

The cost of tangible assets includes directly attributable incremental costs incurred in their acquisition and installation.

 

Total Asset Solutions Limited

Notes to the Unaudited Financial Statements for the Period from 1 October 2022 to 31 March 2024

Depreciation

Depreciation is charged so as to write off the cost of assets, other than land and properties under construction over their estimated useful lives, as follows:

Asset class

Depreciation method and rate

Plant and machinery

25% on reducing balance

Computer equipment

25% on reducing balance

Motor vehicles

25% on cost

Defined contribution pension obligation

A defined contribution plan is a pension plan under which fixed contributions are paid into a pension fund and the company has no legal or constructive obligation to pay further contributions even if the fund does not hold sufficient assets to pay all employees the benefits relating to employee service in the current and prior periods.

Contributions to defined contribution plans are recognised as employee benefit expense when they are due. If contribution payments exceed the contribution due for service, the excess is recognised as a prepayment.

3

Staff numbers

The average number of persons employed by the company (including directors) during the period, was 3 (2022 - 3).

 

Total Asset Solutions Limited

Notes to the Unaudited Financial Statements for the Period from 1 October 2022 to 31 March 2024

4

Tangible assets

Plant and machinery
£

Office equipment
£

Motor vehicles
 £

Total
£

Cost or valuation

At 1 October 2022

724

879

22,033

23,636

At 31 March 2024

724

879

22,033

23,636

Depreciation

At 1 October 2022

597

526

8,508

9,631

Charge for the period

48

133

5,072

5,253

At 31 March 2024

645

659

13,580

14,884

Carrying amount

At 31 March 2024

79

220

8,453

8,752

At 30 September 2022

127

353

13,525

14,005

5

Other financial assets (current and non-current)

Financial assets at cost less impairment
£

Total
£

Non-current financial assets

Cost or valuation

At 1 October 2022

85,000

85,000

Repaid

(85,000)

(85,000)

At 31 March 2024

-

-

Impairment

Carrying amount

At 31 March 2024

-

-

 

Total Asset Solutions Limited

Notes to the Unaudited Financial Statements for the Period from 1 October 2022 to 31 March 2024

6

debtors

Current

2024
£

2022
£

Trade debtors

21,541

6,607

Prepayments

1,202

604

Other debtors

2,438

2,563

 

25,181

9,774

7

Creditors

Creditors: amounts falling due within one year

2024
£

2022
£

Due within one year

Taxation and social security

47,769

11,739

Accruals and deferred income

1,800

1,500

Other creditors

27,710

51,144

77,279

64,383

8

Related party transactions

Directors' remuneration

The directors' remuneration for the period was as follows:

2024
£

2022
£

Remuneration

36,500

25,000

Contributions paid to money purchase schemes

180,000

-

216,500

25,000

 

Total Asset Solutions Limited

Notes to the Unaudited Financial Statements for the Period from 1 October 2022 to 31 March 2024

Dividends paid to directors

   

2024
£

 

2022
£

D Lever

       

Interim dividends

 

19,500

 

10,000

         

S Lever

       

Interim dividends

 

19,500

 

-