Company registration number 02504438 (England and Wales)
ASTREA LIMITED
UNAUDITED FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023
PAGES FOR FILING WITH REGISTRAR
ASTREA LIMITED
COMPANY INFORMATION
Directors
P W Green
R J H Green
S E Green
V M Green
J M Bowry
Company number
02504438
Registered office
Sussex House
Quarry Lane
Chichester
PO19 8PE
Accountants
BHP LLP
2 Rutland Park
Sheffield
S10 2PD
ASTREA LIMITED
CONTENTS
Page
Balance sheet
1 - 2
Notes to the financial statements
3 - 6
ASTREA LIMITED
BALANCE SHEET
AS AT
31 DECEMBER 2023
31 December 2023
- 1 -
2023
2022
Notes
£
£
£
£
Fixed assets
Tangible assets
3
668,928
700,511
Investment property
4
89,966
89,966
758,894
790,477
Current assets
Stocks
30,000
30,000
Debtors
5
31,020,231
23,775,426
Cash at bank and in hand
99,502
44,493
31,149,733
23,849,919
Creditors: amounts falling due within one year
6
(7,553,463)
(9,192,499)
Net current assets
23,596,270
14,657,420
Total assets less current liabilities
24,355,164
15,447,897
Creditors: amounts falling due after more than one year
7
(11,018,301)
(2,747,173)
Provisions for liabilities
(157,000)
(174,000)
Net assets
13,179,863
12,526,724
Capital and reserves
Called up share capital
3,694,904
3,694,904
Revaluation reserve
39,966
39,966
Profit and loss reserves
9,444,993
8,791,854
Total equity
13,179,863
12,526,724
ASTREA LIMITED
BALANCE SHEET (CONTINUED)
AS AT
31 DECEMBER 2023
31 December 2023
- 2 -

For the financial year ended 31 December 2023 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

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 Companies Act 2006 with respect to accounting records and the preparation of financial statements.

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

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

The financial statements were approved by the board of directors and authorised for issue on 5 September 2024 and are signed on its behalf by:
V M Green
Director
Company registration number 02504438 (England and Wales)
ASTREA LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023
- 3 -
1
Accounting policies
Company information

Astrea Limited is a private company limited by shares incorporated in England and Wales. The registered office is Sussex House, Quarry Lane, Chichester, PO19 8PE.

1.1
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 £.

The financial statements have been prepared under the historical cost convention, modified to include investment properties at fair value. The principal accounting policies adopted are set out below.

1.2
Turnover

Turnover represents rents receivable, computer services and contract hire income attributable to the principal activity and is achieved within the United Kingdom.

1.3
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:

Plant and machinery
8% straight line
Computer equipment
20% straight line
Motor vehicles
8% straight line
1.4
Investment properties

Investment property is initially recognised at cost, which includes the purchase cost and any directly attributable expenditure. Subsequently it is measured at fair value at the reporting end date. The surplus or deficit on revaluation is recognised in the profit and loss account.

 

Where fair value cannot be achieved without undue cost or effort, investment property is accounted for as tangible fixed assets.

1.5
Taxation

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

Current tax

The tax currently payable is based on taxable profit for the year. The company’s liability for current tax is calculated using tax rates that have been enacted or substantively enacted by the reporting end date.

Deferred tax

Deferred tax liabilities are generally recognised for all timing differences and 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.

ASTREA LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2023
1
Accounting policies
(Continued)
- 4 -
1.6
Employee benefits

The costs of short-term employee benefits are recognised as a liability and an expense, unless those costs are required to be recognised as part of the cost of stock or fixed assets.

 

The cost of any unused holiday entitlement is recognised in the period in which the employee’s services are received.

 

Termination benefits are recognised immediately as an expense when the company is demonstrably committed to terminate the employment of an employee or to provide termination benefits.

1.7
Retirement benefits

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

2
Employees

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

2023
2022
Number
Number
Total
8
8

Wages and salary costs represent recharges from J.H & F.W Green Limited as disclosed in note 8. No individuals other than the directors are directly employed by Astrea Limited.

3
Tangible fixed assets
Plant and machinery etc
£
Cost
At 1 January 2023
2,388,742
Additions
243,389
Disposals
(144,424)
At 31 December 2023
2,487,707
Depreciation and impairment
At 1 January 2023
1,688,231
Depreciation charged in the year
268,485
Eliminated in respect of disposals
(137,937)
At 31 December 2023
1,818,779
Carrying amount
At 31 December 2023
668,928
At 31 December 2022
700,511
ASTREA LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2023
- 5 -
4
Investment property
2023
£
Fair value
At 1 January 2023 and 31 December 2023
89,966

The valuations of investment properties as at 31 December 2023 has been determined by the directors of the company. No depreciation is provided in respect of these properties.

5
Debtors
2023
2022
Amounts falling due within one year:
£
£
Trade debtors
13,824
16,489
Corporation tax recoverable
17,377
-
0
Other debtors
4,469,830
920,933
4,501,031
937,422
2023
2022
Amounts falling due after more than one year:
£
£
Amounts owed by group undertakings
26,407,325
22,718,629
Other debtors
111,875
119,375
26,519,200
22,838,004
Total debtors
31,020,231
23,775,426
6
Creditors: amounts falling due within one year
2023
2022
£
£
Trade creditors
65,504
61,841
Amounts owed to group undertakings
50,475
478,720
Corporation tax
-
0
404,055
Other taxation and social security
37,614
287,880
Other creditors
7,399,870
7,960,003
7,553,463
9,192,499
7
Creditors: amounts falling due after more than one year
2023
2022
£
£
Other creditors
11,018,301
2,747,173
ASTREA LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2023
- 6 -
8
Related party transactions
Transactions with related parties

During the year the company entered into the following transactions with related parties:

Sale of goods, services & assets
Purchases of goods & services
2023
2022
2023
2022
£
£
£
£
Other related parties
701,617
1,957,771
39,083
46,053

The following amounts were outstanding at the reporting end date:

2023
2022
Amounts due to related parties
£
£
Entities within the group
50,475
478,721
Other related parties
17,941,561
10,624,581

The following amounts were outstanding at the reporting end date:

2023
2022
Amounts due from related parties
£
£
Entities within the group
26,407,325
22,718,629
Other information

The outstanding balances with related parties accrue interest at market rates.

9
Parent company

The ultimate controlling party is Vertex Holdings Limited, a company registered in England and Wales.

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