Acorah Software Products - Accounts Production 15.0.600 false true 31 December 2022 1 January 2022 false 1 January 2023 31 December 2023 31 December 2023 13076173 Mr Frank Fung Kuen Leung iso4217:GBP iso4217:EUR iso4217:USD xbrli:shares xbrli:pure xbrli:pure 13076173 2022-12-31 13076173 2023-12-31 13076173 2023-01-01 2023-12-31 13076173 frs-core:ComputerEquipment 2023-01-01 2023-12-31 13076173 frs-core:DevelopmentCostsCapitalisedDevelopmentExpenditure 2023-01-01 2023-12-31 13076173 frs-core:ShareCapital 2023-12-31 13076173 frs-core:RetainedEarningsAccumulatedLosses 2023-12-31 13076173 frs-bus:PrivateLimitedCompanyLtd 2023-01-01 2023-12-31 13076173 frs-bus:AbridgedAccounts 2023-01-01 2023-12-31 13076173 frs-bus:SmallEntities 2023-01-01 2023-12-31 13076173 frs-bus:AuditExempt-NoAccountantsReport 2023-01-01 2023-12-31 13076173 frs-bus:SmallCompaniesRegimeForAccounts 2023-01-01 2023-12-31 13076173 frs-bus:Director1 2023-01-01 2023-12-31 13076173 frs-countries:EnglandWales 2023-01-01 2023-12-31 13076173 2021-12-31 13076173 2022-12-31 13076173 2022-01-01 2022-12-31 13076173 frs-core:ShareCapital 2022-12-31 13076173 frs-core:RetainedEarningsAccumulatedLosses 2022-12-31
Registered number: 13076173
Ascendis Asset Management Limited
Unaudited ABRIDGED Financial Statements
For The Year Ended 31 December 2023
Ip's Associates Limited
23 Argyle Street
Liverpool
L1 5BL
Contents
Page
Abridged Balance Sheet 1—2
Notes to the Abridged Financial Statements 3—4
Page 1
Abridged Balance Sheet
Registered number: 13076173
2023 2022
Notes £ £ £ £
FIXED ASSETS
Intangible Assets 4 49,041 16,815
Tangible Assets 5 5,732 10,866
54,773 27,681
CURRENT ASSETS
Debtors 14,832 28,524
Cash at bank and in hand 23,069 5,046
37,901 33,570
Creditors: Amounts Falling Due Within One Year (1,649,629 ) (1,362,523 )
NET CURRENT ASSETS (LIABILITIES) (1,611,728 ) (1,328,953 )
TOTAL ASSETS LESS CURRENT LIABILITIES (1,556,955 ) (1,301,272 )
NET LIABILITIES (1,556,955 ) (1,301,272 )
CAPITAL AND RESERVES
Called up share capital 6 1 1
Profit and Loss Account (1,556,956 ) (1,301,273 )
SHAREHOLDERS' FUNDS (1,556,955) (1,301,272)
Page 1
Page 2
For the year ending 31 December 2023 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
The member has not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
These accounts have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime.
The company has taken advantage of section 444(1) of the Companies Act 2006 and opted not to deliver to the registrar a copy of the company's Profit and Loss Account.
All of the company's members have consented to the preparation of an Abridged Profit and Loss Account and an Abridged Balance Sheet for the year end 31 December 2023 in accordance with section 444(2A) of the Companies Act 2006.
On behalf of the board
Mr Frank Fung Kuen Leung
Director
29 August 2024
The notes on pages 3 to 4 form part of these financial statements.
Page 2
Page 3
Notes to the Abridged Financial Statements
1. General Information
Ascendis Asset Management Limited is a private company, limited by shares, incorporated in England & Wales, registered number 13076173 . The registered office is 23 Argyle Street, Liverpool, L1 5BL.
2. Accounting Policies
2.1. Basis of Preparation of Financial Statements
The financial statements have been prepared under the historical cost convention and in accordance with Financial Reporting Standard 102 section 1A Small Entities "The Financial Reporting Standard applicable in the UK and Republic of Ireland" and the Companies Act 2006.
2.2. Turnover
Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover includes revenue earned from the sale of goods and from the rendering of services. Turnover is reduced for estimated customer returns, rebates and other similar allowances.
Sale of goods
Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods has transferred to the buyer. This is usually at the point that the customer has signed for the delivery of the goods.
Rendering of services
Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs. Turnover is only recognised to the extent of recoverable expenses when the outcome of a contract cannot be estimated reliably.
2.3. Intangible Fixed Assets and Amortisation - Other Intangible
Other intangible assets are research and development of smart home technology. It is amortised to profit and loss account over its estimated economic life of 10 years.
2.4. Tangible Fixed Assets and Depreciation
Tangible fixed assets are measured at cost less accumulated depreciation and any accumulated impairment losses. Depreciation is provided at rates calculated to write off the cost of the fixed assets, less their estimated residual value, over their expected useful lives on the following bases:
Computer Equipment - 33% straight line
2.5. Foreign Currencies
Monetary assets and liabilities in foreign currencies are translated into sterling at the rates of exchange ruling at the balance sheet date. Transactions in foreign currencies are translated into sterling at the rate ruling on the date of the transaction. Exchange differences are taken into account in arriving at the operating profit.
3. Average Number of Employees
Average number of employees, including directors, during the year was: 9 (2022: 9)
9 9
Page 3
Page 4
4. Intangible Assets
Total
£
Cost
As at 1 January 2023 16,935
Additions 37,122
As at 31 December 2023 54,057
Amortisation
As at 1 January 2023 120
Provided during the period 4,896
As at 31 December 2023 5,016
Net Book Value
As at 31 December 2023 49,041
As at 1 January 2023 16,815
5. Tangible Assets
Total
£
Cost
As at 1 January 2023 15,405
Additions 38
As at 31 December 2023 15,443
Depreciation
As at 1 January 2023 4,539
Provided during the period 5,172
As at 31 December 2023 9,711
Net Book Value
As at 31 December 2023 5,732
As at 1 January 2023 10,866
6. Share Capital
2023 2022
£ £
Allotted, Called up and fully paid 1 1
Page 4