IRIS Accounts Production v24.2.0.383 02955761 Board of Directors 1.4.23 31.3.24 31.3.24 false true false false true false iso4217:GBPiso4217:USDiso4217:EURxbrli:sharesxbrli:pureutr:tonnesutr:kWh029557612023-03-31029557612024-03-31029557612023-04-012024-03-31029557612022-03-31029557612022-04-012023-03-31029557612023-03-3102955761ns15:EnglandWales2023-04-012024-03-3102955761ns14:PoundSterling2023-04-012024-03-3102955761ns10:Director12023-04-012024-03-3102955761ns10:PrivateLimitedCompanyLtd2023-04-012024-03-3102955761ns10:SmallEntities2023-04-012024-03-3102955761ns10:AuditExempt-NoAccountantsReport2023-04-012024-03-3102955761ns10:SmallCompaniesRegimeForDirectorsReport2023-04-012024-03-3102955761ns10:SmallCompaniesRegimeForAccounts2023-04-012024-03-3102955761ns10:FullAccounts2023-04-012024-03-3102955761ns10:Director22023-04-012024-03-3102955761ns10:RegisteredOffice2023-04-012024-03-3102955761ns5:CurrentFinancialInstruments2024-03-3102955761ns5:CurrentFinancialInstruments2023-03-3102955761ns5:Non-currentFinancialInstruments2024-03-3102955761ns5:Non-currentFinancialInstruments2023-03-3102955761ns5:ShareCapital2024-03-3102955761ns5:ShareCapital2023-03-3102955761ns5:RetainedEarningsAccumulatedLosses2024-03-3102955761ns5:RetainedEarningsAccumulatedLosses2023-03-3102955761ns5:WithinOneYearns5:CurrentFinancialInstruments2024-03-3102955761ns5:WithinOneYearns5:CurrentFinancialInstruments2023-03-3102955761ns5:Non-currentFinancialInstruments2023-04-012024-03-31
REGISTERED NUMBER: 02955761 (England and Wales)















Unaudited Financial Statements

for the Year Ended 31 March 2024

for

ASP (MANAGEMENT) SERVICES LTD

ASP (MANAGEMENT) SERVICES LTD (REGISTERED NUMBER: 02955761)






Contents of the Financial Statements
for the year ended 31 MARCH 2024




Page

Company Information 1

Statement of Financial Position 2

Notes to the Financial Statements 3


ASP (MANAGEMENT) SERVICES LTD

Company Information
for the year ended 31 MARCH 2024







DIRECTORS: M Paling
A S J H Paling





REGISTERED OFFICE: Global House
1st Floor
303 Ballards Lane
London
N12 8NP





REGISTERED NUMBER: 02955761 (England and Wales)






ASP (MANAGEMENT) SERVICES LTD (REGISTERED NUMBER: 02955761)

Statement of Financial Position
31 MARCH 2024

31/3/24 31/3/23
Notes £    £   
CURRENT ASSETS
Debtors 5 115 1,787
Cash at bank - 90
115 1,877
CREDITORS
Amounts falling due within one year 6 (2,833 ) (3,202 )
NET CURRENT LIABILITIES (2,718 ) (1,325 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

(2,718

)

(1,325

)

CREDITORS
Amounts falling due after more than one
year

7

(14,816

)

(16,482

)
NET LIABILITIES (17,534 ) (17,807 )

CAPITAL AND RESERVES
Called up share capital 2 2
Retained earnings (17,536 ) (17,809 )
SHAREHOLDERS' FUNDS (17,534 ) (17,807 )

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 March 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 March 2024 in accordance with Section 476 of the Companies Act 2006.

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 have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 6 November 2024 and were signed on its behalf by:



A S J H Paling - Director


ASP (MANAGEMENT) SERVICES LTD (REGISTERED NUMBER: 02955761)

Notes to the Financial Statements
for the year ended 31 MARCH 2024

1. STATUTORY INFORMATION

ASP (Management) Services Ltd is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.

The presentation currency of the financial statements is the Pound Sterling (£).


2. STATEMENT OF COMPLIANCE

These financial statements have been prepared in accordance with Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" including the provisions of Section 1A "Small Entities" and the Companies Act 2006.

3. ACCOUNTING POLICIES

Basis of preparing the financial statements
The financial statements have been prepared under the historical cost convention.

Turnover
Revenue is recognised to the extent that it is probable that the economic benefits will flow to the Company and the revenue can be reliably measured. Revenue is measured as the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. The following criteria must also be met before revenue is recognised:

Rendering of services

Revenue from a contract to provide services that it is recognised in the period in which the services are provided in accordance with the stage of completion of the contract when all the following conditions are satisfied:

- the amount of revenue can be measured reliably;
- it is probable that the Company will receive the consideration due under the contract;
- the stage of completion of the contract at the end of the reporting period can be measured reliably; and
- the costs incurred and the costs to complete the contract can be measured reliably.

Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Income Statement, except to the extent that it relates to items recognised in other comprehensive income or directly in equity.

Current or deferred taxation assets and liabilities are not discounted.

Current tax is recognised at the amount of tax payable using the tax rates and laws that have been enacted or substantively enacted by the statement of financial position date.


ASP (MANAGEMENT) SERVICES LTD (REGISTERED NUMBER: 02955761)

Notes to the Financial Statements - continued
for the year ended 31 MARCH 2024

3. ACCOUNTING POLICIES - continued
Deferred tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the statement of financial position date.

Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from those in which they are recognised in financial statements. Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the year end and that are expected to apply to the reversal of the timing difference.

Unrelieved tax losses and other deferred tax assets are recognised only to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits.

Going concern
At the balance sheet date, the company's liabilities exceeded its assets. The company has received assurance from the directors that they will continue to give financial support to the company for twelve months from the date of signing these financial statements. On this basis, the directors consider it appropriate to prepare the accounts on a going concern basis. However, should the financial support mentioned above not be forthcoming, the going concern basis used in preparing the company's accounts may be invalid and adjustments would have to be made to reduce the value of assets to the their realisable amount and to provide for any further liabilities which might arise. The accounts do not include any adjustment to the company's assets or liabilities that might be necessary should this basis not continue to be appropriate.

4. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 2 (2023 - 2 ) .

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31/3/24 31/3/23
£    £   
Trade debtors 115 1,787

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31/3/24 31/3/23
£    £   
Bank loans and overdrafts 2,458 2,526
Trade creditors 375 676
2,833 3,202

7. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
31/3/24 31/3/23
£    £   
Bank loans 2,744 5,456
Other creditors 12,072 11,026
14,816 16,482

ASP (MANAGEMENT) SERVICES LTD (REGISTERED NUMBER: 02955761)

Notes to the Financial Statements - continued
for the year ended 31 MARCH 2024

7. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR - continued

The above bank loan is guaranteed by the UK Government under BBLS (the BBLS Guarantee) . There are no capital or interest repayments for the first 13 month after the date of draw down after which the total amount payable must be repaid by way of 60 consecutive monthly repayments (consisting of capital and interest). Interest is charged at a rate of 2.5% on the outstanding principle amount.