IRIS Accounts Production v24.2.0.383 14009975 Board of Directors 1.4.23 31.3.24 31.3.24 0 0 false true false false false iso4217:GBPiso4217:USDiso4217:EURxbrli:sharesxbrli:pureutr:tonnesutr:kWh140099752023-03-31140099752024-03-31140099752023-04-012024-03-31140099752022-03-28140099752022-03-292023-03-31140099752023-03-3114009975ns15:EnglandWales2023-04-012024-03-3114009975ns14:PoundSterling2023-04-012024-03-3114009975ns10:Director12023-04-012024-03-3114009975ns10:PrivateLimitedCompanyLtd2023-04-012024-03-3114009975ns10:Micro-entities2023-04-012024-03-3114009975ns10:AuditExempt-NoAccountantsReport2023-04-012024-03-3114009975ns10:FullAccounts2023-04-012024-03-3114009975ns5:CurrentFinancialInstruments2024-03-3114009975ns5:CurrentFinancialInstruments2023-03-3114009975ns10:RegisteredOffice2023-04-012024-03-31
REGISTERED NUMBER: 14009975 (England and Wales)












Unaudited Financial Statements

for the Year Ended 31 March 2024

for

Advanced Systems Understanding Trustee
Limited

Advanced Systems Understanding Trustee
Limited (Registered number: 14009975)






Contents of the Financial Statements
for the Year Ended 31 March 2024




Page

Balance Sheet 1


Advanced Systems Understanding Trustee
Limited (Registered number: 14009975)

Balance Sheet
31 March 2024

2024 2023
£    £   
CURRENT ASSETS - 100

CREDITORS
Amounts falling due within one year - (42,682 )
NET CURRENT LIABILITIES - (42,582 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

-

(42,582

)

ACCRUALS AND DEFERRED INCOME - 1,200
NET LIABILITIES - (43,782 )

CAPITAL AND RESERVES - (43,782 )

NOTES TO THE FINANCIAL STATEMENTS

1. STATUTORY INFORMATION

Advanced Systems Understanding Trustee Limited is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address are as below:

Registered number: 14009975

Registered office: F11
Business Cyber Centre
Unit 7 Greenways Business Park
Chippenham
Wiltshire
SN15 1BN

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


2. AVERAGE NUMBER OF EMPLOYEES

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

Advanced Systems Understanding Trustee
Limited (Registered number: 14009975)

Balance Sheet - continued
31 March 2024

NOTES TO THE FINANCIAL STATEMENTS

3. OTHER FINANCIAL COMMITMENTS

During the year ended 31 March 2023 an Employee Ownership Trust was set up which acquired 52% of the share capital of Advanced Systems Understanding Limited from existing shareholders. This company was set up to act as trustee.

The total consideration to be paid for the shares was £907,200, which is due in 4 annual instalments of £226,800 commencing October 2023. Advanced Systems Understanding Limited has committed to making capital contributions to the trust to cover these payments as they fall due, provided that it has sufficient reserves to make a lawful distribution. At 31 March 2024 the amount of deferred consideration still owed by hte trust in respect of originally acquiring these shares is £529,200. This amount is not recognised on the balance sheet of these accounts as the consideration is owed by the trust and not the trustee company.

On 31 December 2023, the company ceased to be the trustee of the employee ownership trust. A new trust company, Asystsu Trustee Limited has been incorporated as the new trustee of the employee ownership trust.

4. BASIS OF PREPARATION

The financial statements have been prepared on a basis other than going concern as the directors intend to wind up the company within 12 months of the year end.



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 in accordance with the micro-entity provisions and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

The financial statements were approved by the Board of Directors and authorised for issue on 13 September 2024 and were signed on its behalf by:





Ms C Nicholson - Director