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Company Registration No. 11199958 (England and Wales)
Ascendancy Digital Limited Unaudited accounts for the year ended 29 February 2024
Ascendancy Digital Limited Unaudited accounts Contents
Page
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Ascendancy Digital Limited Company Information for the year ended 29 February 2024
Directors
James Balneaves Zoe Balneaves
Company Number
11199958 (England and Wales)
Registered Office
201 Baldwins Lane Croxley Green Rickmansworth WD3 3LH United Kingdom
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Ascendancy Digital Limited Statement of financial position as at 29 February 2024
2024 
2023 
Notes
£ 
£ 
Fixed assets
Tangible assets
6,582 
2,461 
Current assets
Debtors
19,210 
19,898 
Cash at bank and in hand
110,402 
55,201 
129,612 
75,099 
Creditors: amounts falling due within one year
(72,731)
(39,831)
Net current assets
56,881 
35,268 
Total assets less current liabilities
63,463 
37,729 
Provisions for liabilities
Deferred tax
(1,646)
(615)
Net assets
61,817 
37,114 
Capital and reserves
Called up share capital
2 
2 
Profit and loss account
61,815 
37,112 
Shareholders' funds
61,817 
37,114 
For the year ending 29 February 2024 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 in accordance with section 476 of the Companies Act 2006.
The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
These accounts have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with the provisions of FRS 102 Section 1A - Small Entities. The profit and loss account has not been delivered to the Registrar of Companies.
The financial statements were approved by the Board of Directors and authorised for issue on 9 October 2024 and were signed on its behalf by
James Balneaves Director Company Registration No. 11199958
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Ascendancy Digital Limited Notes to the Accounts for the year ended 29 February 2024
1
Statutory information
Ascendancy Digital Limited is a private company, limited by shares, registered in England and Wales, registration number 11199958. The registered office is 201 Baldwins Lane, Croxley Green, Rickmansworth, WD3 3LH, United Kingdom.
2
Compliance with accounting standards
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.
3
Accounting policies
The principal accounting policies adopted in the preparation of the financial statements are set out below and have remained unchanged from the previous year, and also have been consistently applied within the same accounts.
Basis of preparation
The accounts have been prepared under the historical cost convention as modified to include the revaluation of freehold properties and to include investment properties and certain financial instruments at fair value. The principal accounting policies adopted are set out below.
Presentation currency
The accounts are presented in £ sterling.
Turnover
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. Turnover from the sale of goods is recognised when goods have been delivered to customers such that risks and rewards of ownership have transferred to them. 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.
Tangible fixed assets and depreciation
Tangible assets are included at cost less depreciation and impairment. Depreciation has been provided at the following rates in order to write off the assets over their estimated useful lives:
Fixtures & fittings
20% reducing balance
Computer equipment
25% reducing balance
Deferred taxation
Deferred tax arises as a result of including items of income and expenditure in taxation computations in periods different from those in which they are included in the company's accounts. Deferred tax is provided in full on timing differences which result in an obligation to pay more (or less) tax at a future date, at the average tax rates that are expected to apply when the timing differences reverse, based on current tax rates and laws. Deferred tax assets and liabilities are not discounted.
Financial instruments
Basic financial instruments are recognised at amortised cost, except for investments in non-convertible preference and non-puttable ordinary shares which are measured at fair value, with changes recognised in profit or loss. Derivative financial instruments are initially recorded at cost and thereafter at fair value with changes recognised in profit or loss.
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Ascendancy Digital Limited Notes to the Accounts for the year ended 29 February 2024
4
Tangible fixed assets
Computer equipment 
£ 
Cost or valuation
At cost 
At 1 March 2023
5,748 
Additions
5,982 
At 29 February 2024
11,730 
Depreciation
At 1 March 2023
3,287 
Charge for the year
1,861 
At 29 February 2024
5,148 
Net book value
At 29 February 2024
6,582 
At 28 February 2023
2,461 
5
Debtors
2024 
2023 
£ 
£ 
Amounts falling due within one year
Trade debtors
18,611 
13,820 
Accrued income and prepayments
599 
- 
Other debtors
- 
6,078 
19,210 
19,898 
6
Creditors: amounts falling due within one year
2024 
2023 
£ 
£ 
VAT
15,092 
- 
Taxes and social security
29,313 
13,175 
Loans from directors
27,126 
24,978 
Accruals
1,200 
1,678 
72,731 
39,831 
7
Average number of employees
During the year the average number of employees was 2 (2023: 1).
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