Company No:
Contents
Note | 28.02.2024 | 28.02.2023 | ||
£ | £ | |||
Fixed assets | ||||
Tangible assets | 3 |
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0 | 10,113 | |||
Current assets | ||||
Debtors | 4 |
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Cash at bank and in hand |
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500 | 10,391 | |||
Creditors: amounts falling due within one year | 5 | (
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Net current (liabilities)/assets | (2,580) | 9,203 | ||
Total assets less current liabilities | (2,580) | 19,316 | ||
Provision for liabilities |
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Net (liabilities)/assets | (
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Capital and reserves | ||||
Called-up share capital | 6 |
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Profit and loss account | (
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Total shareholder's (deficit)/funds | (
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Directors' responsibilities:
The financial statements of Asservio Management and Solutions Ltd (registered number:
W Jenner
Director |
The principal accounting policies are summarised below. They have all been applied consistently throughout the financial year and to the preceding financial period, unless otherwise stated.
Asservio Management and Solutions 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 Lowin House, Tregolls Road, Truro, TR1 2NA, 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 £.
The directors have assessed the Balance Sheet and likely future cash flows at the date of approving these financial statements. The directors have a reasonable expectation that the Company has adequate resources to continue in operational existence and to meet its financial obligations as they fall due 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.
The company recognises revenue when:
The amount of revenue can be reliably measured;
it is probable that future economic benefits will flow to the entity;
and specific criteria have been met for each of the company's activities.
Current tax is provided at amounts expected to be paid (or recoverable) using the tax rates and laws that have been enacted or substantively enacted at the Balance Sheet date.
Deferred tax
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 financial statements. 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 tax rates and laws substantively enacted at the balance sheet date. Deferred tax assets and liabilities are not discounted.
Fixtures and fittings |
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Office equipment |
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Computer equipment |
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Classification
The company holds the following financial instruments:
• Short term trade and other debtors and creditors; and
• Cash and bank balances.
All financial instruments are classified as basic.
The amount recognised as a provision is the best estimate of the consideration required to settle the present obligation at the Balance Sheet date, taking into account the risks and uncertainties surrounding the obligation. Where a provision is measured using the cash flows estimated to settle the present obligation, its carrying amount is the present value of those cash flows.
When some or all of the economic benefits required to settle a provision are expected to be recovered from a third party, a receivable is recognised as an asset if it is virtually certain that reimbursement will be received and the amount of the receivable can be measured reliably.
Year ended 28.02.2024 |
Period from 01.09.2021 to 28.02.2023 |
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Number | Number | ||
Monthly average number of persons employed by the Company during the year, including directors |
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Fixtures and fittings | Office equipment | Computer equipment | Total | ||||
£ | £ | £ | £ | ||||
Cost | |||||||
At 01 March 2023 |
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Disposals | (
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At 28 February 2024 |
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Accumulated depreciation | |||||||
At 01 March 2023 |
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Charge for the financial year |
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Disposals | (
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At 28 February 2024 |
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Net book value | |||||||
At 28 February 2024 |
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At 28 February 2023 |
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28.02.2024 | 28.02.2023 | ||
£ | £ | ||
Other debtors |
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28.02.2024 | 28.02.2023 | ||
£ | £ | ||
Amounts owed to directors |
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Accruals |
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28.02.2024 | 28.02.2023 | ||
£ | £ | ||
Allotted, called-up and fully-paid | |||
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Transactions with the entity's directors
28.02.2024 | 28.02.2023 | ||
£ | £ | ||
Balance outstanding brought forward | 6,713 | 511 | |
Amounts advanced | 8,105 | 11,773 | |
Amounts repaid | (14,818) | (5,571) | |
Balance outstanding at year end | 0 | 6,713 |
No interest is charged on this loan and it is repayable on demand.