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Company No: 08228733 (England and Wales)

ASMB CONSULTANTS LTD

Unaudited Financial Statements
For the financial year ended 31 March 2024
Pages for filing with the registrar

ASMB CONSULTANTS LTD

Unaudited Financial Statements

For the financial year ended 31 March 2024

Contents

ASMB CONSULTANTS LTD

BALANCE SHEET

As at 31 March 2024
ASMB CONSULTANTS LTD

BALANCE SHEET (continued)

As at 31 March 2024
Note 2024 2023
£ £
Fixed assets
Tangible assets 3 241 362
241 362
Current assets
Cash at bank and in hand 972 2,363
972 2,363
Creditors: amounts falling due within one year 4 ( 2,329) ( 3,421)
Net current liabilities (1,357) (1,058)
Total assets less current liabilities (1,116) (696)
Net liabilities ( 1,116) ( 696)
Capital and reserves
Called-up share capital 5 2 2
Profit and loss account ( 1,118 ) ( 698 )
Total shareholders' deficit ( 1,116) ( 696)

For the financial year ending 31 March 2024 the Company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Directors' responsibilities:

The financial statements of ASMB Consultants Ltd (registered number: 08228733) were approved and authorised for issue by the Board of Directors on 05 November 2024. They were signed on its behalf by:

Mr A Carter
Director
ASMB CONSULTANTS LTD

NOTES TO THE FINANCIAL STATEMENTS

For the financial year ended 31 March 2024
ASMB CONSULTANTS LTD

NOTES TO THE FINANCIAL STATEMENTS

For the financial year ended 31 March 2024
1. Accounting policies

The principal accounting policies are summarised below. They have all been applied consistently throughout the financial year and to the preceding financial year, unless otherwise stated.

General information and basis of accounting

ASMB Consultants Ltd (the Company) is a private company, limited by shares, incorporated in the United Kingdom under the Companies Act 2006 and is registered in England and Wales. The address of the Company's registered office is 20 Peregrine Close, Torquay, TQ2 7SN, United Kingdom.

The financial statements have been prepared under the historical cost convention, modified to include certain items at fair value, and in accordance with Section 1A of Financial Reporting Standard 102 (FRS 102) ‘The Financial Reporting Standard applicable in the UK and Republic of Ireland’ issued by the Financial Reporting Council and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime.

The financial statements are presented in pounds sterling which is the functional currency of the Company and rounded to the nearest £.

Going concern

The directors have assessed the Balance Sheet and likely future cash flows at the date of approving these financial statements. The directors note that the business has net liabilities of £1,116. The Company is supported through loans from the directors. The directors have confirmed that the loan facilities will continue to be available for at least 12 months from the date of signing these financial statements and the directors will continue to support the Company. Given the current position, the directors believe that any foreseeable debts can be met for at least 12 months from the date of signing these financial statements. Accordingly, they continue to adopt the going concern basis in preparing the financial statements.

Turnover

Turnover represents amounts chargeable, net of value added tax, in respect of the sale of goods and services to customers.

Tangible fixed assets

Tangible fixed assets are stated at cost or valuation, net of depreciation and any provision for impairment. Depreciation is provided on all tangible fixed assets, other than investment property and freehold land, at rates calculated to write off the cost or valuation, less estimated residual value, of each asset on a straight-line basis over its expected useful life, as follows:

Office equipment 4 years straight line

Residual value represents the estimated amount which would currently be obtained from disposal of an asset, after deducting estimated costs of disposal, if the asset were already of the age and in the condition expected at the end of its useful life.

Financial instruments

Financial assets and financial liabilities are recognised when the Company becomes a party to the contractual provisions of the instrument.

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.

Financial assets and liabilities are only offset in the Balance Sheet when, and only when there exists a legally enforceable right to set off the recognised amounts and the Company intends either to settle on a net basis, or to realise the asset and settle the liability simultaneously.

Basic financial assets
Basic financial assets receivable within one year, such as trade debtors and bank balances, are measured at transaction price less any impairment.

Basic financial assets receivable within more than one year are measured at amortised cost less any impairment.

Financial assets are derecognised when and only when the contractual rights to the cash flows from the financial asset expire or are settled, or the Company transfers to another party substantially all of the risks and rewards of ownership of the financial asset, or the Company, despite having retained some, but not all, significant risks and rewards of ownership, has transferred control of the asset to another party.

Basic financial liabilities
Basic financial liabilities that have no stated interest rate and are payable within one year, such as trade creditors, are measured at transaction price.

Other basic financial liabilities are measured at amortised cost.

Financial liabilities are derecognised when the company’s contractual obligations expire or are discharged or cancelled.

2. Employees

2024 2023
Number Number
Monthly average number of persons employed by the Company during the year, including directors 1 1

3. Tangible assets

Office equipment Total
£ £
Cost
At 01 April 2023 1,914 1,914
At 31 March 2024 1,914 1,914
Accumulated depreciation
At 01 April 2023 1,552 1,552
Charge for the financial year 121 121
At 31 March 2024 1,673 1,673
Net book value
At 31 March 2024 241 241
At 31 March 2023 362 362

4. Creditors: amounts falling due within one year

2024 2023
£ £
Other creditors 2,329 3,421

5. Called-up share capital

2024 2023
£ £
Allotted, called-up and fully-paid
2 Ordinary shares of £ 1.00 each 2 2