REGISTERED NUMBER: |
Unaudited Financial Statements |
for the Year Ended 31 March 2024 |
for |
Advanced Systems Understanding Trustee |
Limited |
REGISTERED NUMBER: |
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 |
CREDITORS |
Amounts falling due within one year | ( |
) |
NET CURRENT LIABILITIES | ( |
) |
TOTAL ASSETS LESS CURRENT LIABILITIES |
( |
) |
ACCRUALS AND DEFERRED INCOME |
NET LIABILITIES | ( |
) |
CAPITAL AND RESERVES | ( |
) |
NOTES TO THE FINANCIAL STATEMENTS |
1. | STATUTORY INFORMATION |
Advanced Systems Understanding Trustee Limited is a |
Registered number: |
Registered office: |
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 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 were approved by the Board of Directors and authorised for issue on |