4 false false false false false false false false false false true false false false false false false No description of principal activity 2023-01-01 Sage Accounts Production Advanced 2023 - FRS102_2023 10,440 5,222 2,611 7,833 2,607 5,218 xbrli:pure xbrli:shares iso4217:GBP 13103254 2023-01-01 2023-12-31 13103254 2023-12-31 13103254 2022-12-31 13103254 2022-01-01 2022-12-31 13103254 2022-12-31 13103254 2021-12-31 13103254 core:FurnitureFittings 2023-01-01 2023-12-31 13103254 bus:Director1 2023-01-01 2023-12-31 13103254 bus:Director2 2023-01-01 2023-12-31 13103254 core:FurnitureFittings 2022-12-31 13103254 core:FurnitureFittings 2023-12-31 13103254 core:WithinOneYear 2023-12-31 13103254 core:WithinOneYear 2022-12-31 13103254 core:ShareCapital 2023-12-31 13103254 core:ShareCapital 2022-12-31 13103254 core:RetainedEarningsAccumulatedLosses 2023-12-31 13103254 core:RetainedEarningsAccumulatedLosses 2022-12-31 13103254 core:FurnitureFittings 2022-12-31 13103254 bus:SmallEntities 2023-01-01 2023-12-31 13103254 bus:AuditExempt-NoAccountantsReport 2023-01-01 2023-12-31 13103254 bus:SmallCompaniesRegimeForAccounts 2023-01-01 2023-12-31 13103254 bus:PrivateLimitedCompanyLtd 2023-01-01 2023-12-31 13103254 bus:FullAccounts 2023-01-01 2023-12-31
COMPANY REGISTRATION NUMBER: 13103254
Asta Accountants Ltd
Filleted Unaudited Financial Statements
31 December 2023
Asta Accountants Ltd
Statement of Financial Position
31 December 2023
2023
2022
Note
£
£
Fixed assets
Tangible assets
5
2,607
5,218
Current assets
Debtors
6
50,757
36,696
Cash at bank and in hand
15,259
10,535
--------
--------
66,016
47,231
Creditors: amounts falling due within one year
7
53,431
40,767
--------
--------
Net current assets
12,585
6,464
--------
--------
Total assets less current liabilities
15,192
11,682
Provisions
600
991
--------
--------
Net assets
14,592
10,691
--------
--------
Capital and reserves
Called up share capital
100
100
Profit and loss account
14,492
10,591
--------
--------
Shareholders funds
14,592
10,691
--------
--------
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 statement of income and retained earnings has not been delivered.
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.
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 .
Asta Accountants Ltd
Statement of Financial Position (continued)
31 December 2023
These financial statements were approved by the board of directors and authorised for issue on 6 September 2024 , and are signed on behalf of the board by:
Mr J Mistry
Miss N D Patel
Director
Director
Company registration number: 13103254
Asta Accountants Ltd
Notes to the Financial Statements
Year ended 31 December 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 Devonshire House, 582 Honeypot Lane, Stanmore, HA7 1JS, 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.
Revenue recognition
The turnover shown in the profit and loss account represents fee income receivable for the period. Fee income is recognised on completion of the services provided to the client.
Taxation
The taxation expense represents the aggregate amount of current and deferred tax recognised in the reporting period. Tax is recognised in profit or loss, except to the extent that it relates to items recognised in other comprehensive income or directly in equity. In this case, tax is recognised in other comprehensive income or directly in equity, respectively. 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 at the reporting date. Unrelieved tax losses and other deferred tax assets are recognised to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date that are expected to apply to the reversal of the timing difference.
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:
Fixtures and fittings
-
25% straight line
Financial instruments
Financial instruments are classified and accounted for, according to the substance of the contractual arrangement, as either financial assets, financial liabilities or equity instruments. An equity instrument is any contract that evidences a residual interest in the assets of the company after deducting all of its liabilities.
Defined contribution plans
Contributions to defined contribution plans are recognised as an expense in the period in which the related service is provided. Prepaid contributions are recognised as an asset to the extent that the prepayment will lead to a reduction in future payments or a cash refund. When contributions are not expected to be settled wholly within 12 months of the end of the reporting date in which the employees render the related service, the liability is measured on a discounted present value basis. The unwinding of the discount is recognised as a finance cost in profit or loss in the period in which it arises.
Debtors
Basic financial assets, including trade and other debtors, are initially recognised at transaction price, unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest. Such assets are subsequently carried at amortised cost using the effective interest method, less any impairment.
Cash and cash equivalents
Cash and cash equivalents are represented by cash in hand, deposits held at call with financial institutions, and other short-term highly liquid investments that mature in no more than three months from the date of acquisition and that are readily convertible to known amounts of cash with insignificant risk of change in value.
Creditors
Basic financial liabilities, including trade and other creditors, loans from third parties and loans from related parties, are initially recognised at transaction price, unless the arrangement constitutes a financing transaction, where the debt instrument is measured at the present value of the future payments discounted at a market rate of interest. Such instruments are subsequently carried at amortised cost using the effective interest method, less any impairment.
4. Employee numbers
The average number of persons employed by the company during the year amounted to 4 (2022: 4 ).
5. Tangible assets
Fixtures and fittings
£
Cost
At 1 January 2023 and 31 December 2023
10,440
--------
Depreciation
At 1 January 2023
5,222
Charge for the year
2,611
--------
At 31 December 2023
7,833
--------
Carrying amount
At 31 December 2023
2,607
--------
At 31 December 2022
5,218
--------
6. Debtors
2023
2022
£
£
Trade debtors
43,405
29,569
Other debtors
7,352
7,127
--------
--------
50,757
36,696
--------
--------
7. Creditors: amounts falling due within one year
2023
2022
£
£
Trade creditors
14,842
2,194
Corporation tax
677
3,457
Social security and other taxes
18,769
11,650
Other creditors
19,143
23,466
--------
--------
53,431
40,767
--------
--------