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Registration number: 06407738

Astra Property Services UK Ltd

Annual Report and Unaudited Financial Statements

for the Year Ended 30 November 2023

 

Astra Property Services UK Ltd

Contents
__________________________________________________________________________

Company Information

1

Balance Sheet

2

Notes to the Unaudited Financial Statements

3 to 7

 

Astra Property Services UK Ltd

Company Information
__________________________________________________________________________

Director

Mr J A Harford

Company secretary

Mr B J Harford

Registered office

Abbey House
342 Regents Park Road
N3 2LJ


 

Accountants

Brooks Green
Chartered Accountants
Abbey House
342 Regents Park Road
London
N3 2LJ

 

Astra Property Services UK Ltd

(Registration number: 06407738)
Balance Sheet as at 30 November 2023
__________________________________________________________________________

Note

2023
£

2022
£

Fixed assets

 

Tangible assets

3

57,260

44,124

Current assets

 

Stocks

4

147,115

81,965

Debtors

5

41,885

72,320

Cash at bank and in hand

 

26,389

17,725

 

215,389

172,010

Creditors: Amounts falling due within one year

6

(202,947)

(157,251)

Net current assets

 

12,442

14,759

Total assets less current liabilities

 

69,702

58,883

Creditors: Amounts falling due after more than one year

6

(67,182)

(55,240)

Net assets

 

2,520

3,643

Capital and reserves

 

Called up share capital

102

102

Retained earnings

2,418

3,541

Shareholders' funds

 

2,520

3,643

For the financial year ending 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:

The members have not required the company to obtain an audit of its accounts for the year in question in accordance with section 476; and

The director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

These financial statements have been prepared in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006.

These financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime and the option not to file the Profit and Loss Account has been taken.

Approved and authorised by the director on 18 July 2024
 

.........................................
Mr J A Harford
Director

 

Astra Property Services UK Ltd

Notes to the Unaudited Financial Statements for the Year Ended 30 November 2023
__________________________________________________________________________

1

Accounting policies

Summary of significant accounting policies and key accounting estimates

The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.

Statement of compliance

These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A - 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' and the Companies Act 2006.

Basis of preparation

These financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.

Going concern

The financial statements have been prepared on a going concern basis.

Revenue recognition

Turnover comprises the fair value of the consideration received or receivable for the sale of goods and provision of services in the ordinary course of the company’s activities. Turnover is shown net of sales/value added tax, returns, rebates and discounts.

The company recognises revenue when:
The amount of revenue can be reliably measured;
it is probable that future economic benefits will flow to the entity;
and specific criteria have been met for each of the company's activities.

Tax

The tax expense for the period comprises current tax. Tax is recognised in profit or loss, except that a change attributable to an item of income or expense recognised as other comprehensive income is also recognised directly in other comprehensive income.

The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the reporting date in the countries where the company operates and generates taxable income.

Tangible assets

Tangible assets are stated in the balance sheet at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.

The cost of tangible assets includes directly attributable incremental costs incurred in their acquisition and installation.

Depreciation

Depreciation is charged so as to write off the cost of assets, other than land and properties under construction over their estimated useful lives, as follows:

Asset class

Depreciation method and rate

Plant and machinery

15% on reducing balance

Office equipment

25% on reducing balance

 

Astra Property Services UK Ltd

Notes to the Unaudited Financial Statements for the Year Ended 30 November 2023
__________________________________________________________________________

Motor vehicles

20% on reducing balance

Cash and cash equivalents

Cash and cash equivalents comprise cash on hand and call deposits, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value.

Trade debtors

Trade debtors are amounts due from customers for merchandise sold or services performed in the ordinary course of business.

Trade debtors are recognised initially at the transaction price. They are subsequently measured at amortised cost using the effective interest method, less provision for impairment. A provision for the impairment of trade debtors is established when there is objective evidence that the company will not be able to collect all amounts due according to the original terms of the receivables.

Stocks

Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell. Cost is determined using the first-in, first-out (FIFO) method.

The cost of finished goods and work in progress comprises direct materials and, where applicable, direct labour costs and those overheads that have been incurred in bringing the inventories to their present location and condition. At each reporting date, stocks are assessed for impairment. If stocks are impaired, the carrying amount is reduced to its selling price less costs to complete and sell; the impairment loss is recognised immediately in profit or loss.

Trade creditors

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Accounts payable are classified as current liabilities if the company does not have an unconditional right, at the end of the reporting period, to defer settlement of the creditor for at least twelve months after the reporting date. If there is an unconditional right to defer settlement for at least twelve months after the reporting date, they are presented as non-current liabilities.

Trade creditors are recognised initially at the transaction price and subsequently measured at amortised cost using the effective interest method.

Borrowings

Interest-bearing borrowings are initially recorded at fair value, net of transaction costs. Interest-bearing borrowings are subsequently carried at amortised cost, with the difference between the proceeds, net of transaction costs, and the amount due on redemption being recognised as a charge to the profit and loss account over the period of the relevant borrowing.

Interest expense is recognised on the basis of the effective interest method and is included in interest payable and similar charges.

Borrowings are classified as current liabilities unless the company has an unconditional right to defer settlement of the liability for at least twelve months after the reporting date.

 

Astra Property Services UK Ltd

Notes to the Unaudited Financial Statements for the Year Ended 30 November 2023
__________________________________________________________________________

Leases

Leases in which substantially all the risks and rewards of ownership are retained by the lessor are classified as operating leases. Payments made under operating leases are charged to profit or loss on a straight-line basis over the period of the lease.

Share capital

Ordinary shares are classified as equity. Equity instruments are measured at the fair value of the cash or other resources received or receivable, net of the direct costs of issuing the equity instruments. If payment is deferred and the time value of money is material, the initial measurement is on a present value basis.

Dividends

Dividend distribution to the company’s shareholders is recognised as a liability in the financial statements in the reporting period in which the dividends are declared.

2

Staff numbers

The average number of persons employed by the company (including the director) during the year, was 6 (2022 - 6).

 

Astra Property Services UK Ltd

Notes to the Unaudited Financial Statements for the Year Ended 30 November 2023
__________________________________________________________________________

3

Tangible assets

Plant and machinery
£

Office equipment
£

Motor vehicles
 £

Total
£

Cost or valuation

At 1 December 2022

27,910

7,543

73,640

109,093

Additions

-

485

34,271

34,756

Disposals

-

-

(31,051)

(31,051)

At 30 November 2023

27,910

8,028

76,860

112,798

Depreciation

At 1 December 2022

22,326

5,978

36,665

64,969

Charge for the year

840

510

12,744

14,094

Eliminated on disposal

-

-

(23,525)

(23,525)

At 30 November 2023

23,166

6,488

25,884

55,538

Carrying amount

At 30 November 2023

4,744

1,540

50,976

57,260

At 30 November 2022

5,584

1,565

36,975

44,124

4

Stocks

2023
£

2022
£

Work in progress

145,000

80,000

Other inventories

2,115

1,965

147,115

81,965

5

Debtors

Current

2023
£

2022
£

Trade debtors

41,595

72,000

Prepayments

290

320

 

41,885

72,320

6

Creditors

Creditors: amounts falling due within one year

 

Astra Property Services UK Ltd

Notes to the Unaudited Financial Statements for the Year Ended 30 November 2023
__________________________________________________________________________

Note

2023
£

2022
£

Due within one year

 

Loans and borrowings

21,440

16,168

Trade creditors

 

44,650

41,661

Taxation and social security

 

130,868

91,164

Accruals and deferred income

 

4,825

4,950

Other creditors

 

1,164

3,308

 

202,947

157,251

Creditors: amounts falling due after more than one year

Note

2023
£

2022
£

Due after one year

 

Loans and borrowings

67,182

55,240