2023-02-012024-01-312024-01-31false07129318Aspire Construction Projects 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Aspire Construction Projects Ltd

Registered Number
07129318
(England and Wales)

Unaudited Financial Statements for the Year ended
31 January 2024

Aspire Construction Projects Ltd
Company Information
for the year from 1 February 2023 to 31 January 2024

Director

Tom Kilgannon

Company Secretary

KILGANNON, Tom

Registered Address

Balmoral House Warwick Court
Park Road
Manchester
M24 1AE

Registered Number

07129318 (England and Wales)
Aspire Construction Projects Ltd
Balance Sheet as at
31 January 2024

Notes

2024

2023

£

£

£

£

Fixed assets
Tangible assets3399,916373,522
399,916373,522
Current assets
Stocks272,242155,166
Debtors4697,848896,793
Cash at bank and on hand700,208398,510
1,670,2981,450,469
Creditors amounts falling due within one year5(713,990)(700,546)
Net current assets (liabilities)956,308749,923
Total assets less current liabilities1,356,2241,123,445
Creditors amounts falling due after one year6(200,684)(302,686)
Net assets1,155,540820,759
Capital and reserves
Called up share capital5050
Profit and loss account1,155,490820,709
Shareholders' funds1,155,540820,759
The financial statements were approved and authorised for issue by the Director on 25 October 2024, and are signed on its behalf by:
Tom Kilgannon
Director
Registered Company No. 07129318
Aspire Construction Projects Ltd
Notes to the Financial Statements
for the year ended 31 January 2024

1.Accounting policies
Statutory information
The company is a private company limited by shares and registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.
Statement of compliance
The financial statements have been prepared in compliance with FRS 102 Section 1A as it applies to the financial statements for the period and there were no material departures from the reporting standard.
Revenue from sale of goods
Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods have transferred to the buyer. Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs.
Employee benefits
The company operates a defined contribution pension scheme. Contributions payable to the company & pension scheme are charged to profit or loss in the period to which they relate.
Foreign currency translation
Transactions in foreign currencies are initially recognised at the rate of exchange ruling at the date of the transaction. At the end of each reporting period foreign currency monetary items are translated at the closing rate of exchange. Non-monetary items that are measured at historical cost are translated at the rate ruling at the date of the transaction. All differences are charged to profit or loss.
Tangible fixed assets and depreciation
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life or, if held under a finance lease, over the lease term, whichever is the shorter.
Finance leases and hire purchase contracts
Assets obtained under hire purchase contracts or finance leases are capitalised in the balance sheet. Those held under hire purchase contracts are depreciated over their estimated useful lives. Those held under finance leases are depreciated over their estimated useful lives or the lease term, whichever is the shorter. The interest element of these obligations is charged to profit or loss over the relevant period. The capital element of the future payments is treated as a liability. Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease.
Stocks and work in progress
Inventories are valued at the lower of cost and estimated selling price (less any associated costs to enable such sales to complete).
2.Average number of employees

20242023
Average number of employees during the year87
3.Tangible fixed assets

Total

£
Cost or valuation
At 01 February 23681,518
Additions113,666
At 31 January 24783,034
Depreciation and impairment
At 01 February 23307,996
Charge for year87,272
At 31 January 24383,118
Net book value
At 31 January 24399,916
At 31 January 23373,522
4.Debtors: amounts due within one year

2024

2023

££
Trade debtors / trade receivables669,760816,364
Other debtors28,08880,429
Total697,848896,793
5.Creditors: amounts due within one year

2024

2023

££
Trade creditors / trade payables451,039485,552
Bank borrowings and overdrafts105,801105,431
Taxation and social security104,86049,363
Finance lease and HP contracts52,29060,200
Total713,990700,546
6.Creditors: amounts due after one year

2024

2023

££
Bank borrowings and overdrafts166,134272,780
Other creditors34,55029,906
Total200,684302,686
7.Obligations under finance leases

2024

2023

££
Finance lease and HP contracts34,54929,906