Company registration number 10354220 (England and Wales)
ADVANCED SYSTEMS TECHNOLOGY LIMITED
UNAUDITED FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 29 APRIL 2023
PAGES FOR FILING WITH REGISTRAR
ADVANCED SYSTEMS TECHNOLOGY LIMITED
CONTENTS
Page
Balance sheet
1 - 2
Notes to the financial statements
3 - 7
ADVANCED SYSTEMS TECHNOLOGY LIMITED (REGISTERED NUMBER: 10354220)
BALANCE SHEET
AS AT 29 APRIL 2023
29 April 2023
- 1 -
29 April 2023
30 April 2022
Notes
£
£
£
£
Fixed assets
Tangible assets
4
18,946
24,150
Current assets
Stocks
-
27,228
Debtors
5
45,651
50,458
Cash at bank and in hand
15,823
76,374
61,474
154,060
Creditors: amounts falling due within one year
6
(88,282)
(142,303)
Net current (liabilities)/assets
(26,808)
11,757
Total assets less current liabilities
(7,862)
35,907
Creditors: amounts falling due after more than one year
7
(4,722)
(9,995)
Net (liabilities)/assets
(12,584)
25,912
Capital and reserves
Called up share capital
8
75
100
Profit and loss reserves
(12,659)
25,812
Total equity
(12,584)
25,912

The director of the company has elected not to include a copy of the profit and loss account within the financial statements.true

For the financial period ended 29 April 2023 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

The director acknowledges his responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.

The members have not required the company to obtain an audit of its financial statements for the period in question in accordance with section 476.

These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

ADVANCED SYSTEMS TECHNOLOGY LIMITED (REGISTERED NUMBER: 10354220)
BALANCE SHEET (CONTINUED)
AS AT 29 APRIL 2023
29 April 2023
- 2 -
The financial statements were approved by the board of directors and authorised for issue on 30 July 2024 and are signed on its behalf by:
Mr J Crichlow
Director
ADVANCED SYSTEMS TECHNOLOGY LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 29 APRIL 2023
- 3 -
1
Accounting policies
Company information

Advanced Systems Technology Limited is a private company limited by shares incorporated in England and Wales. The registered office is 19/21 Swan Street, West Malling, Kent, ME19 6JU.

1.1
Reporting period

The company's accounts are being presented for a period shorter than a year, being the 1st of May 2022 to the 29th of April 2023.

1.2
Accounting convention

These financial statements have been prepared in accordance with FRS 102 “The Financial Reporting Standard applicable in the UK and Republic of Ireland” (“FRS 102”) and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime. The disclosure requirements of section 1A of FRS 102 have been applied other than where additional disclosure is required to show a true and fair view.

The financial statements are prepared in sterling, which is the functional currency of the company. Monetary amounts in these financial statements are rounded to the nearest £1.

The financial statements have been prepared under the historical cost convention. The principal accounting policies adopted are set out below.

1.3
Going concern

Atruet the time of approving the financial statements, the director has a reasonable expectation that the company has adequate resources to continue in operational existence for the foreseeable future. Thus the director continues to adopt the going concern basis of accounting in preparing the financial statements.

1.4
Turnover

Turnover is recognised at the fair value of the consideration received or receivable for goods and services provided in the normal course of business, and is shown net of VAT.

 

When cash inflows are deferred and represent a financing arrangement, the fair value of the consideration is the present value of the future receipts. The difference between the fair value of the consideration and the nominal amount received is recognised as interest income.

Turnover for the sale of goods is recognised when all of the following conditions are met:

ADVANCED SYSTEMS TECHNOLOGY LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE PERIOD ENDED 29 APRIL 2023
1
Accounting policies
(Continued)
- 4 -

Turnover from a contract to provide services is recognised in the period in which the services are provided in accordance with the stage of completion of the contract when all of the following conditions are satisfied:

1.5
Intangible fixed assets - goodwill

Goodwill represents the excess of the cost of acquisition of unincorporated businesses over the fair value of net assets acquired. It is initially recognised as an asset at cost and is subsequently measured at cost less accumulated amortisation and accumulated impairment losses. Goodwill is considered to have a finite useful life and is amortised on a systematic basis over its expected life, which is 5 years.

1.6
Tangible fixed assets

Tangible fixed assets are initially measured at cost and subsequently measured at cost or valuation, net of depreciation and any impairment losses.

Depreciation is recognised so as to write off the cost or valuation of assets less their residual values over their useful lives on the following bases:

Fixtures and fittings
25% on reducing balance
Computers
33.33% straight line
Motor vehicles
25% on reducing balance

The gain or loss arising on the disposal of an asset is determined as the difference between the sale proceeds and the carrying value of the asset, and is credited or charged to profit or loss.

1.7
Stocks

Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell. Cost comprises direct materials and, where applicable, direct labour costs and those overheads that have been incurred in bringing the stocks to their present location and condition.

 

Stocks held for distribution at no or nominal consideration are measured at the lower of cost and replacement cost, adjusted where applicable for any loss of service potential.

1.8
Taxation

The tax expense represents the sum of the tax currently payable.

1.9
Retirement benefits

Payments to defined contribution retirement benefit schemes are charged as an expense as they fall due.

ADVANCED SYSTEMS TECHNOLOGY LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE PERIOD ENDED 29 APRIL 2023
1
Accounting policies
(Continued)
- 5 -
1.10
Leases

Leases are classified as finance leases whenever the terms of the lease transfer substantially all the risks and rewards of ownership to the lessees. All other leases are classified as operating leases.

 

Assets held under finance leases are recognised as assets at the lower of the assets fair value at the date of inception and the present value of the minimum lease payments. The related liability is included in the balance sheet as a finance lease obligation. Lease payments are treated as consisting of capital and interest elements. The interest is charged to profit or loss so as to produce a constant periodic rate of interest on the remaining balance of the liability.

1.11
Government grants

Government grants are recognised at the fair value of the asset received or receivable when there is reasonable assurance that the grant conditions will be met and the grants will be received.

 

A grant that specifies performance conditions is recognised in income when the performance conditions are met. Where a grant does not specify performance conditions it is recognised in income when the proceeds are received or receivable. A grant received before the recognition criteria are satisfied is recognised as a liability.

2
Employees

The average monthly number of persons (including directors) employed by the company during the period was:

2023
2022
Number
Number
Total
4
3
3
Intangible fixed assets
Goodwill
£
Cost
At 1 May 2022 and 29 April 2023
5,000
Amortisation and impairment
At 1 May 2022 and 29 April 2023
5,000
Carrying amount
At 29 April 2023
-
0
At 30 April 2022
-
0
ADVANCED SYSTEMS TECHNOLOGY LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE PERIOD ENDED 29 APRIL 2023
- 6 -
4
Tangible fixed assets
Fixtures and fittings
Computers
Motor vehicles
Total
£
£
£
£
Cost
At 1 May 2022
5,003
6,602
36,031
47,636
Additions
-
0
1,091
-
0
1,091
At 29 April 2023
5,003
7,693
36,031
48,727
Depreciation and impairment
At 1 May 2022
3,539
5,335
14,612
23,486
Depreciation charged in the period
366
574
5,355
6,295
At 29 April 2023
3,905
5,909
19,967
29,781
Carrying amount
At 29 April 2023
1,098
1,784
16,064
18,946
At 30 April 2022
1,464
1,267
21,419
24,150
5
Debtors
2023
2022
Amounts falling due within one year:
£
£
Trade debtors
45,651
50,458
6
Creditors: amounts falling due within one year
2023
2022
£
£
Trade creditors
30,590
30,468
Taxation and social security
8,173
19,372
Other creditors
49,519
92,463
88,282
142,303
7
Creditors: amounts falling due after more than one year
2023
2022
£
£
Other creditors
4,722
9,995
ADVANCED SYSTEMS TECHNOLOGY LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE PERIOD ENDED 29 APRIL 2023
- 7 -
8
Called up share capital
2023
2022
2023
2022
Ordinary share capital
Number
Number
£
£
Issued and fully paid
Ordinary of £1 each
75
100
75
100
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