Registered number
14686407
ASCENDER CREATIVE LIMITED
Filleted Accounts
29 February 2024
ASCENDER CREATIVE LIMITED
Registered number: 14686407
Balance Sheet
as at 29 February 2024
Notes 2024
£
Fixed assets
Tangible assets 3 23,735
Current assets
Debtors 4 219,053
Cash at bank and in hand 28,595
247,648
Creditors: amounts falling due within one year 5 (231,850)
Net current assets 15,798
Total assets less current liabilities 39,533
Provisions for liabilities (5,934)
Net assets 33,599
Capital and reserves
Called up share capital 100
Profit and loss account 33,499
Shareholders' funds 33,599
The directors are satisfied that the company is entitled to exemption from the requirement to obtain an audit under section 477 of the Companies Act 2006.
The members have not required the company to obtain an audit in accordance with section 476 of the Act.
The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts.
The accounts have been prepared and delivered in accordance with the special provisions applicable to companies subject to the small companies regime. The profit and loss account has not been delivered to the Registrar of Companies.
S P Milldown
Director
Approved by the board on 19 November 2024
ASCENDER CREATIVE LIMITED
Notes to the Accounts
for the period from 24 February 2023 to 29 February 2024
1 Accounting policies
Basis of preparation
The accounts have been prepared under the historical cost convention and in accordance with FRS 102, The Financial Reporting Standard applicable in the UK and Republic of Ireland (as applied to small entities by section 1A of the standard).
Turnover
Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover includes revenue earned from the sale of goods and from the rendering of services. 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.
Tangible fixed assets
Tangible fixed assets are measured at cost less accumulative depreciation and any accumulative impairment losses. Depreciation is provided on all tangible fixed assets at rates calculated to write off the cost, less estimated residual value, of each asset evenly over its expected useful life, as follows:
Computers etc over 3 years
Office furniture etc over 5 years
Debtors
Short term debtors are measured at transaction price (which is usually the invoice price), less any impairment losses for bad and doubtful debts. Loans and other financial assets are initially recognised at transaction price including any transaction costs and subsequently measured at amortised cost determined using the effective interest method, less any impairment losses for bad and doubtful debts.
Creditors
Short term creditors are measured at transaction price (which is usually the invoice price). Loans and other financial liabilities are initially recognised at transaction price net of any transaction costs and subsequently measured at amortised cost determined using the effective interest method.
Taxation
A current tax liability is recognised for the tax payable on the taxable profit of the current and past periods. Deferred tax is recognised in respect of all timing differences between the recognition of income and expenses in the financial statements and their inclusion in tax assessments. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date and that are expected to apply to the reversal of the timing difference. Current and deferred tax liabilities are not discounted.
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. All differences are charged to profit or loss.
Leased assets
A lease is classified as a finance lease if it transfers substantially all the risks and rewards incidental to ownership. All other leases are classified as operating leases. The company had no finance leases during the period under review. Operating lease payments are recognised as an expense on a straight line basis over the lease term.
Pensions
Contributions to defined contribution plans are expensed in the period to which they relate.
2 Employees 2024
Number
Average number of persons employed by the company 12
3 Tangible fixed assets
Office furniture and equipment
£
Cost
Additions 29,346
At 29 February 2024 29,346
Depreciation
Charge for the period 5,611
At 29 February 2024 5,611
Net book value
At 29 February 2024 23,735
4 Debtors 2024
£
Trade debtors 184,038
Other debtors 35,015
219,053
5 Creditors: amounts falling due within one year 2024
£
Trade creditors 93,754
Taxation and social security costs 60,523
Other creditors 73,361
Accruals 4,212
231,850
6 Other financial commitments 2024
£
Total future minimum payments under non-cancellable operating leases 15,000
7 Loans to directors
Description and conditions B/fwd Paid Repaid C/fwd
£ £ £ £
E L Dinmore
Director's current account, interest-free and repayable on demand - 25 - 25
P C Jenkins
Director's current account, interest-free and repayable on demand - 25 (25) -
S P Milldown
Director's current account, interest-free and repayable on demand - 25 - 25
- 75 (25) 50
8 Other information
ASCENDER CREATIVE LIMITED is a private company limited by shares and incorporated in England & Wales. Its registered office is:
Epsilon House
1-5 West Road
Ransomes Europark
Ipswich
IP3 9FJ
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