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COMPANY REGISTRATION NUMBER: 02818738
Astral Communications (Wakefield) Limited
Filleted Unaudited Financial Statements
For the year ended
31 October 2023
Astral Communications (Wakefield) Limited
Balance Sheet
31 October 2023
2023
2022
Note
£
£
£
Fixed assets
Tangible assets
5
51,123
304
Current assets
Stocks
210,501
Debtors
6
3,311
53,725
Cash at bank and in hand
295,793
7,781
---------
---------
299,104
272,007
Creditors: amounts falling due within one year
7
232,874
274,650
---------
---------
Net current assets/(liabilities)
66,230
( 2,643)
---------
-------
Total assets less current liabilities
117,353
( 2,339)
Provisions
11,631
---------
-------
Net assets/(liabilities)
105,722
( 2,339)
---------
-------
Capital and reserves
Called up share capital
100
100
Profit and loss account
105,622
( 2,439)
---------
-------
Shareholders funds/(deficit)
105,722
( 2,339)
---------
-------
These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with Section 1A of FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.
In accordance with section 444 of the Companies Act 2006, the profit and loss account has not been delivered.
For the year ending 31 October 2023 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 financial statements for the year in question in accordance with section 476 ;
- The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements .
Astral Communications (Wakefield) Limited
Balance Sheet (continued)
31 October 2023
These financial statements were approved by the board of directors and authorised for issue on 30 July 2024 , and are signed on behalf of the board by:
S W Atherton
Director
Company registration number: 02818738
Astral Communications (Wakefield) Limited
Notes to the Financial Statements
Year ended 31 October 2023
1. General information
The company is a private company limited by shares, registered in England and Wales. The address of the registered office is Crabtree Farm, Deighton, York, YO19 6ES, England.
2. Statement of compliance
These financial statements have been prepared in compliance with Section 1A of FRS 102, 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland'.
3. Accounting policies
Basis of preparation
The financial statements have been prepared on the historical cost basis. The financial statements are prepared in sterling, which is the functional currency of the entity. Monetary amounts in these financial statements have been rounded to the nearest £.
Judgements and key sources of estimation uncertainty
The preparation of the financial statements under FRS 102 requires management to make judgements, estimates and assumptions that affect the application of policies and reported amounts. These estimates and judgements are continually evaluated and are based on historical experience and other factors including expectations of future events that are believed to be reasonable under the circumstances. Actual results may differ from these estimates.
Revenue recognition
Turnover comprises the sales value net of attributable VAT of work done in the period under contracts to supply goods and services to third parties.
Income tax
Current tax is recognised on taxable profit for the current and past periods. Current tax is measured at the amounts. of tax expected to pay or recover using the tax rates and laws that have been enacted or substantively enacted at the reporting date. Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date where transactions or events have occurred at that date that will result in an obligation to pay more, or a right to pay less or to receive more tax. Deferred tax is measured on an undiscounted basis at the rates that are expected to apply in the periods in which timing differences reverse, based on tax rates and laws enacted or substantively enacted at the balance sheet date .
Operating leases
Lease payments are recognised as an expense over the lease term on a straight-line basis. The aggregate benefit of lease incentives is recognised as a reduction to expense over the lease term, on a straight-line basis.
Tangible assets
Tangible assets are initially recorded at cost, and subsequently stated at cost less any accumulated depreciation and impairment losses. Any tangible assets carried at revalued amounts are recorded at the fair value at the date of revaluation less any subsequent accumulated depreciation and subsequent accumulated impairment losses.
Depreciation
Depreciation is calculated so as to write off the cost or valuation of an asset, less its residual value, over the useful economic life of that asset as follows:
Motor vehicles
-
20% reducing balance
Equipment
-
20% reducing balance
Stocks
Stocks are measured at the lower of cost and estimated selling price less costs to complete and sell. Cost includes all costs of purchase, costs of conversion and other costs incurred in bringing the stock to its present location and condition.
Provisions
Provisions are recognised when the entity has an obligation at the reporting date as a result of a past event, it is probable that the entity will be required to transfer economic benefits in settlement and the amount of the obligation can be estimated reliably. Provisions are recognised as a liability in the balance sheet and the amount of the provision as an expense. Provisions are initially measured at the best estimate of the amount required to settle the obligation at the reporting date and subsequently reviewed at each reporting date and adjusted to reflect the current best estimate of the amount that would be required to settle the obligation. Any adjustments to the amounts previously recognised are recognised in profit or loss unless the provision was originally recognised as part of the cost of an asset. When a provision is measured at the present value of the amount expected to be required to settle the obligation, the unwinding of the discount is recognised as a finance cost in profit or loss in the period it arises.
4. Employee numbers
The average number of persons employed by the company during the year amounted to 2 (2022: Nil).
5. Tangible assets
Motor vehicles
Equipment
Total
£
£
£
Cost
At 1 November 2022
309
309
Additions
52,635
52,635
--------
----
--------
At 31 October 2023
52,635
309
52,944
--------
----
--------
Depreciation
At 1 November 2022
5
5
Charge for the year
1,755
61
1,816
--------
----
--------
At 31 October 2023
1,755
66
1,821
--------
----
--------
Carrying amount
At 31 October 2023
50,880
243
51,123
--------
----
--------
At 31 October 2022
304
304
--------
----
--------
6. Debtors
2023
2022
£
£
Trade debtors
3,590
Other debtors
3,311
50,135
-------
--------
3,311
53,725
-------
--------
Included in "Other debtors" is a balance of £nil (2022 £713) which the directors do not expect to be recovered within one year of the balance sheet date.
7. Creditors: amounts falling due within one year
2023
2022
£
£
Trade creditors
2,356
119
Corporation tax
17,342
Other creditors
213,176
274,531
---------
---------
232,874
274,650
---------
---------
Included in "Other creditors" is an amount of £212,626 (2022: £274,031) which is due to the directors. The amount is unsecured, interest free and repayable on demand.
8. Directors' advances, credits and guarantees
There are no transactions with the directors that require disclosure under section 413 of the Companies Act 2006.