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ASSETS & COMPLIANCE MANAGED SERVICES LTD

UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MARCH 2024






ASSETS & COMPLIANCE MANAGED SERVICES LTD (REGISTERED NUMBER: 04709357)

CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024










Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 3


ASSETS & COMPLIANCE MANAGED SERVICES LTD

COMPANY INFORMATION
FOR THE YEAR ENDED 31 MARCH 2024







DIRECTORS: Miss A Foster
S W Aldridge
J Horsfall





REGISTERED OFFICE: The Lookout
4 Bull Close Road
Nottingham
Nottinghamshire
NG7 2UL





REGISTERED NUMBER: 04709357 (England and Wales)





ACCOUNTANTS: Sibbalds Limited
Chartered Accountants and Business Advisers
Oakhurst House
57 Ashbourne Road
Derby
Derbyshire
DE22 3FS

ASSETS & COMPLIANCE MANAGED SERVICES LTD (REGISTERED NUMBER: 04709357)

BALANCE SHEET
31 MARCH 2024

2024 2023
Notes £    £    £    £   
FIXED ASSETS
Intangible assets 4 463 1,696
Tangible assets 5 5,748 10,948
6,211 12,644

CURRENT ASSETS
Debtors 6 435,912 843,526
Cash at bank 520,313 104,651
956,225 948,177
CREDITORS
Amounts falling due within one year 7 538,858 560,953
NET CURRENT ASSETS 417,367 387,224
TOTAL ASSETS LESS CURRENT LIABILITIES 423,578 399,868

CREDITORS
Amounts falling due after more than one year 8 11,667 21,667
NET ASSETS 411,911 378,201

CAPITAL AND RESERVES
Called up share capital 9 157 157
Share premium 199,953 199,953
Retained earnings 211,801 178,091
SHAREHOLDERS' FUNDS 411,911 378,201

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 March 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 March 2024 in accordance with Section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for:
(a)ensuring that the company keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006 and
(b)preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of each financial year and of its profit or loss for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the company.

The 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 Statement of Income and Retained Earnings has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 9 August 2024 and were signed on its behalf by:




S W Aldridge - Director


ASSETS & COMPLIANCE MANAGED SERVICES LTD (REGISTERED NUMBER: 04709357)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024


1. STATUTORY INFORMATION

Assets & Compliance Managed Services Ltd is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.

The presentation currency of the financial statements is the Pound Sterling (£).


2. ACCOUNTING POLICIES

Basis of preparing the financial statements
These financial statements have been prepared in accordance with Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" including the provisions of Section 1A "Small Entities" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.

Turnover
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Intangible assets
Intangible assets are initially measured at cost. After initial recognition, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses.

Computer software is being amortised evenly over its estimated useful life of three years.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Fixtures and fittings - 20% on cost
Computer equipment - 33% on cost

Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Statement of Income and Retained Earnings, except to the extent that it relates to items recognised in other comprehensive income or directly in equity.

Current or deferred taxation assets and liabilities are not discounted.

Current tax is recognised at the amount of tax payable using the tax rates and laws that have been enacted or substantively enacted by the balance sheet date.

Deferred tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date.

Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from those in which they are recognised in financial statements. Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the year end and 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.

Hire purchase and leasing commitments
Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease.

Pension costs and other post-retirement benefits
The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 7 (2023 - 12 ) .

ASSETS & COMPLIANCE MANAGED SERVICES LTD (REGISTERED NUMBER: 04709357)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 MARCH 2024


4. INTANGIBLE FIXED ASSETS
Computer
software
£   
COST
At 1 April 2023
and 31 March 2024 121,671
AMORTISATION
At 1 April 2023 119,975
Amortisation for year 1,233
At 31 March 2024 121,208
NET BOOK VALUE
At 31 March 2024 463
At 31 March 2023 1,696

5. TANGIBLE FIXED ASSETS
Fixtures
and Computer
fittings equipment Totals
£    £    £   
COST
At 1 April 2023 15,206 39,470 54,676
Additions - 2,268 2,268
At 31 March 2024 15,206 41,738 56,944
DEPRECIATION
At 1 April 2023 14,871 28,857 43,728
Charge for year 123 7,345 7,468
At 31 March 2024 14,994 36,202 51,196
NET BOOK VALUE
At 31 March 2024 212 5,536 5,748
At 31 March 2023 335 10,613 10,948

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Trade debtors 170,718 563,031
Other debtors 265,194 280,495
435,912 843,526

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Bank loans and overdrafts 10,000 10,000
Trade creditors 254,160 243,913
Taxation and social security 108,574 90,407
Other creditors 166,124 216,633
538,858 560,953

ASSETS & COMPLIANCE MANAGED SERVICES LTD (REGISTERED NUMBER: 04709357)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 MARCH 2024


8. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR
2024 2023
£    £   
Bank loans 11,667 21,667

9. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 2024 2023
value: £    £   
100 A Ordinary 1 100 100
10 B Ordinary 10 10 10
47 C Ordinary 47 47 47
157 157

10. DIRECTORS' ADVANCES, CREDITS AND GUARANTEES

The following advances and credits to a director subsisted during the years ended 31 March 2024 and 31 March 2023:

2024 2023
£    £   
S W Aldridge
Balance outstanding at start of year 157,853 144,444
Amounts advanced 153,393 101,089
Amounts repaid (164,260 ) (87,680 )
Amounts written off - -
Amounts waived - -
Balance outstanding at end of year 146,986 157,853