Company registration number 10198125 (England and Wales)
ASPIDISTRA HOLDINGS LIMITED
UNAUDITED FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024
ASPIDISTRA HOLDINGS LIMITED
COMPANY INFORMATION
Directors
Mrs K E Dorey
Mr P H Dorey
Secretary
Mrs K E Dorey
Company number
10198125
Registered office
Unit 1, Coombe Works
Derby Road
Kingsbridge
Devon
England
TQ7 1JL
Accountants
Bush & Co Limited
2 Barnfield Crescent
Exeter
EX1 1QT
ASPIDISTRA HOLDINGS LIMITED
CONTENTS
Page
Balance sheet
1 - 2
Notes to the financial statements
3 - 7
ASPIDISTRA HOLDINGS LIMITED
BALANCE SHEET
AS AT
31 MARCH 2024
31 March 2024
- 1 -
2024
2023
Notes
£
£
£
£
Fixed assets
Intangible assets
3
75,432
100,486
Tangible assets
4
982
1,155
Investments
5
50,100
50,100
126,514
151,741
Current assets
Debtors
6
83,076
37,893
Cash at bank and in hand
26
88
83,102
37,981
Creditors: amounts falling due within one year
7
(61,076)
(88,051)
Net current assets/(liabilities)
22,026
(50,070)
Net assets
148,540
101,671
Capital and reserves
Called up share capital
100,000
100,000
Retained earnings
48,540
1,671
Total equity
148,540
101,671
The directors of the company have elected not to include a copy of the income statement within the financial statements.true
For the financial year ended 31 March 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
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.
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.
These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.
ASPIDISTRA HOLDINGS LIMITED
BALANCE SHEET (CONTINUED)
AS AT
31 MARCH 2024
31 March 2024
- 2 -
The financial statements were approved by the board of directors and authorised for issue on 3 October 2024 and are signed on its behalf by:
Mrs K E Dorey
Director
Company Registration No. 10198125
ASPIDISTRA HOLDINGS LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024
- 3 -
1
Accounting policies
Company information
Aspidistra Holdings Limited is a private company limited by shares incorporated in England and Wales. The registered office is Unit 1, Coombe Works, Derby Road, Kingsbridge, Devon, England, TQ7 1JL.
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. The principal accounting policies adopted are set out below.
1.2
Turnover
Turnover is recognised at the fair value of the consideration received or receivable for goods and services provided in the normal course of business, and is shown net of VAT and other sales related taxes. The fair value of consideration takes into account trade discounts, settlement discounts and volume rebates.
When cash inflows are deferred and represent a financing arrangement, the fair value of the consideration is the present value of the future receipts. The difference between the fair value of the consideration and the nominal amount received is recognised as interest income.
Revenue from contracts for the provision of professional services is recognised by reference to the stage of completion when the stage of completion, costs incurred and costs to complete can be estimated reliably. The stage of completion is calculated by comparing costs incurred, mainly in relation to contractual hourly staff rates and materials, as a proportion of total costs. Where the outcome cannot be estimated reliably, revenue is recognised only to the extent of the expenses recognised that it is probable will be recovered.
1.3
Intangible fixed assets other than goodwill
Intangible assets relate to contracts and client data purchased in 2017, as well as recent intellectual property purchases. These assets are amortised over their useful lives which is considered to be 10 years, or the length of the contract, whichever is shorter.
Patents & licences
10 years on cost
ASPIDISTRA HOLDINGS LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2024
1
Accounting policies
(Continued)
- 4 -
1.4
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:
Fixtures and fittings
15% reducing balance
The gain or loss arising on the disposal of an asset is determined as the difference between the sale proceeds and the carrying value of the asset, and is credited or charged to profit or loss.
1.5
Fixed asset investments
Interests in subsidiaries, associates and jointly controlled entities are initially measured at cost and subsequently measured at cost less any accumulated impairment losses. The investments are assessed for impairment at each reporting date and any impairment losses or reversals of impairment losses are recognised immediately in profit or loss.
A subsidiary is an entity controlled by the company. Control is the power to govern the financial and operating policies of the entity so as to obtain benefits from its activities.
An associate is an entity, being neither a subsidiary nor a joint venture, in which the company holds a long-term interest and where the company has significant influence. The company considers that it has significant influence where it has the power to participate in the financial and operating decisions of the associate.
Entities in which the company has a long term interest and shares control under a contractual arrangement are classified as jointly controlled entities.
1.6
Financial instruments
The company has elected to apply the provisions of Section 11 ‘Basic Financial Instruments’ and Section 12 ‘Other Financial Instruments Issues’ of FRS 102 to all of its financial instruments.
Financial instruments are recognised in the company's balance sheet when the company becomes party to the contractual provisions of the instrument.
Financial assets and liabilities are offset, with the net amounts presented in the financial statements, when there is a legally enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously.
ASPIDISTRA HOLDINGS LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2024
1
Accounting policies
(Continued)
- 5 -
Basic financial assets
Basic financial assets, which include debtors and cash and bank balances, are initially measured at transaction price including transaction costs and are subsequently carried at amortised cost using the effective interest method 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. Financial assets classified as receivable within one year are not amortised.
Classification of financial liabilities
Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instrument is any contract that evidences a residual interest in the assets of the company after deducting all of its liabilities.
1.7
Equity instruments
Equity instruments issued by the company are recorded at the proceeds received, net of transaction costs. Dividends payable on equity instruments are recognised as liabilities once they are no longer at the discretion of the company.
2
Employees
The average monthly number of persons (including directors) employed by the company during the year was:
2024
2023
Number
Number
Total
2
2
ASPIDISTRA HOLDINGS LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2024
- 6 -
3
Intangible fixed assets
Other
£
Cost
At 1 April 2023 and 31 March 2024
250,540
Amortisation and impairment
At 1 April 2023
150,054
Amortisation charged for the year
25,054
At 31 March 2024
175,108
Carrying amount
At 31 March 2024
75,432
At 31 March 2023
100,486
4
Tangible fixed assets
Plant and machinery etc
£
Cost
At 1 April 2023 and 31 March 2024
1,359
Depreciation and impairment
At 1 April 2023
204
Depreciation charged in the year
173
At 31 March 2024
377
Carrying amount
At 31 March 2024
982
At 31 March 2023
1,155
5
Fixed asset investments
2024
2023
£
£
Shares in group undertakings and participating interests
50,100
50,100
ASPIDISTRA HOLDINGS LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2024
- 7 -
6
Debtors
2024
2023
Amounts falling due within one year:
£
£
Trade debtors
200
716
Other debtors
82,876
37,177
83,076
37,893
7
Creditors: amounts falling due within one year
2024
2023
£
£
Trade creditors
2,951
260
Amounts owed to group undertakings
56,953
85,030
Taxation and social security
471
1,020
Other creditors
701
1,741
61,076
88,051
8
Related party transactions
Transactions with related parties
At the year end the company had a balance owing to a subsidiary company of £56,953 (2023: £75,969). No interest has been charged on this balance and there are no set terms of repayment.
9
Directors' transactions
At the year end, the directors owed the company £82,160 (2023: £36,518). Interest was charged on balances greater that £10,000 within the year and no repayment terms have been set. This balance was repaid within nine months of the year end.