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Registered Number: 14473572
England and Wales

 

 

 

ASPIRE EQUITY RELEASE LIMITED


Financial Statements
 


Period of accounts

Start date: 09 November 2022

End date: 30 November 2023
Director Ian Butler
Registered Number 14473572
Registered Office The Waterscapes
42 Leeds & Bradford Road
Leeds
West Yorkshire
LS5 3EG
Accountants UWM Accountants Limited
UWM House
6 Fusion Court
Leeds
LS25 2GH
1
 
 
Notes
 
2023
£
Turnover 77,013 
Gross profit 77,013 
Selling and distribution costs (700)
Administrative expenses (61,667)
Operating profit 14,646 
Other interest receivable and similar income 13 
Profit/(Loss) on ordinary activities before taxation 14,659 
Tax on profit on ordinary activities (2,789)
Profit/(Loss) for the financial period 11,870 
 
2
 
 
Notes
 
2023
£
Fixed assets    
Tangible fixed assets 3 375 
375 
Current assets    
Cash at bank and in hand 8,561 
Creditors: amount falling due within one year 4 (8,795)
Net current assets (234)
 
Total assets less current liabilities 141 
Provisions for liabilities 5 (71)
Net assets 70 
 

Capital and reserves
   
Called up share capital 100 
Profit and loss account (30)
Shareholders' funds 70 
 


For the period ended 30 November 2023 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Director's responsibilities:
  1. The members have not required the company to obtain an audit of its accounts for the period in question in accordance with section 476.
  2. The director acknowledges their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts.
These 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 to the Registrar of Companies.
The financial statements were approved by the director on 29 July 2024 and were signed by:


-------------------------------
Ian Butler
Director
3
General Information
Aspire Equity Release Limited is a private company, limited by shares, registered in England and Wales, registration number 14473572, registration address The Waterscapes, 42 Leeds & Bradford Road, Leeds, West Yorkshire, LS5 3EG.

The presentation currency is £ sterling.
1.

Accounting policies

Significant accounting policies
The accounts have been prepared under the historical cost convention and in accordance with FRS 102, the Financial Reporting Standard applicable in the UK and Republic of Ireland (as applied to small entities by Section 1A of the standard)
Turnover
Turnover comprises the invoiced value of goods and services supplied by the company, net of Value Added Tax and trade discounts.
Taxation
Taxation represents the sum of tax currently payable and deferred tax. Tax is recognised in the statement of income, except to the extent that it relates to items recognised in other comprehensive income or directly in capital and reserves.
The company’s liability for current tax is calculated using the tax rates and laws that have been enacted or substantively enacted at the reporting date.
Current and deferred tax assets and liabilities are not discounted
Deferred taxation
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the reporting date.
Deferred tax is measured using 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.
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.
Current and deferred tax assets and liabilities are not discounted.
Tangible fixed assets
Tangible fixed assets, other than freehold land, are stated at cost or valuation less depreciation and any provision for impairment. Depreciation is provided at rates calculated to write off the cost or valuation of fixed assets, less their estimated residual value, over their expected useful lives on the following basis:
Plant and machinery etc 25% RB
Provisions
Provisions are recognised when the company has a present obligation as a result of a past event which it is more probable than not will result in an outflow of economic benefits that can be reasonably estimated.
2.

Average number of employees

Average number of employees during the period was 2.
3.

Tangible fixed assets

Cost or valuation Plant and machinery etc   Total
  £   £
At 09 November 2022  
Additions 500    500 
Disposals  
At 30 November 2023 500    500 
Depreciation
At 09 November 2022  
Charge for period 125    125 
On disposals  
At 30 November 2023 125    125 
Net book values
Closing balance as at 30 November 2023 375    375 
Opening balance as at 09 November 2022  


4.

Creditors: amount falling due within one year

2023
£
Trade Creditors 4,768 
Taxation and Social Security 3,124 
Other Creditors 903 
8,795 

5.

Provisions for liabilities

2023
£
Deferred Tax 71 
71 

4