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COMPANY REGISTRATION NUMBER: 05154464
ASTON & SMITH MORTGAGE SERVICES LIMITED
FILLETED UNAUDITED FINANCIAL STATEMENTS
30 June 2024
ASTON & SMITH MORTGAGE SERVICES LIMITED
STATEMENT OF FINANCIAL POSITION
30 June 2024
2024
2023
Note
£
£
£
£
FIXED ASSETS
Tangible assets
5
150,545
151,430
CURRENT ASSETS
Debtors
6
149
133
Cash at bank and in hand
59,344
73,987
--------
--------
59,493
74,120
CREDITORS: amounts falling due within one year
7
41,802
37,860
--------
--------
NET CURRENT ASSETS
17,691
36,260
---------
---------
TOTAL ASSETS LESS CURRENT LIABILITIES
168,236
187,690
CREDITORS: amounts falling due after more than one year
8
9,172
19,167
---------
---------
NET ASSETS
159,064
168,523
---------
---------
CAPITAL AND RESERVES
Called up share capital fully paid
1,000
1,000
Profit and loss account
158,064
167,523
---------
---------
SHAREHOLDERS FUNDS
159,064
168,523
---------
---------
These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with Section 1A of FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.
In accordance with section 444 of the Companies Act 2006, the statement of income and retained earnings has not been delivered.
For the year ending 30 June 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
Directors' responsibilities:
- The members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476 ;
- The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements .
ASTON & SMITH MORTGAGE SERVICES LIMITED
STATEMENT OF FINANCIAL POSITION (continued)
30 June 2024
These financial statements were approved by the board of directors and authorised for issue on 13 January 2025 , and are signed on behalf of the board by:
Mr S Aston
Director
Company registration number: 05154464
ASTON & SMITH MORTGAGE SERVICES LIMITED
NOTES TO THE FINANCIAL STATEMENTS
YEAR ENDED 30 JUNE 2024
1. GENERAL INFORMATION
The company is a private company limited by shares, registered in England and Wales. The address of the registered office is 86 Rockingham Road, Corby, Northamptonshire, NN17 1AE.
2. STATEMENT OF COMPLIANCE
These financial statements have been prepared in compliance with Section 1A of FRS 102, 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland'.
3. ACCOUNTING POLICIES
Basis of preparation
The financial statements have been prepared on the historical cost basis and are prepared in sterling, which is the functional currency of the entity.
Revenue recognition
Turnover is measured at the fair value of the consideration received or receivable and represents amounts receivable for services rendered.
Income tax
The taxation expense represents the aggregate amount of current and deferred tax recognised in the reporting period. Tax is recognised in profit or loss, except to the extent that it relates to items recognised in other comprehensive income or directly in equity. In this case, tax is recognised in other comprehensive income or directly in equity, respectively. Current tax is recognised on taxable profit for the current and past periods. Current tax is measured at the amounts of tax expected to pay or recover using the tax rates and laws that have been enacted or substantively enacted at the reporting date.
Tangible assets
Tangible assets are initially recorded at cost, and subsequently stated at cost less any accumulated depreciation and impairment losses.
Depreciation
Depreciation is calculated so as to write off the cost or valuation of an asset, less its residual value, over the useful economic life of that asset as follows:
Freehold property
-
25% straight line
Computer equipment
-
25% straight line
Fixtures and fittings
-
25% straight line
Impairment of fixed assets
A review for indicators of impairment is carried out at each reporting date, with the recoverable amount being estimated where such indicators exist. Where the carrying value exceeds the recoverable amount, the asset is impaired accordingly. Prior impairments are also reviewed for possible reversal at each reporting date.
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 and loss. Derivative financial instruments are initially recorded at cost and thereafter at fair value with changes recognised in profit and loss.
Defined contribution plans
Contributions to defined contribution plans are recognised as an expense in the period in which the related service is provided. Prepaid contributions are recognised as an asset to the extent that the prepayment will lead to a reduction in future payments or a cash refund.
4. EMPLOYEE NUMBERS
The average number of persons employed by the company during the year amounted to 4 (2023: 3 ).
5. TANGIBLE ASSETS
Freehold property
Computer equipment
Fixtures and fittings
Total
£
£
£
£
Cost
At 1 July 2023
158,605
16,708
19,780
195,093
Additions
549
130
679
---------
--------
--------
---------
At 30 June 2024
158,605
17,257
19,910
195,772
---------
--------
--------
---------
Depreciation
At 1 July 2023
9,855
15,447
18,361
43,663
Charge for the year
872
692
1,564
---------
--------
--------
---------
At 30 June 2024
9,855
16,319
19,053
45,227
---------
--------
--------
---------
Carrying amount
At 30 June 2024
148,750
938
857
150,545
---------
--------
--------
---------
At 30 June 2023
148,750
1,261
1,419
151,430
---------
--------
--------
---------
6. DEBTORS
2024
2023
£
£
Other debtors
149
133
----
----
7. CREDITORS: amounts falling due within one year
2024
2023
£
£
Bank loans and overdrafts
9,998
10,000
Social security and other taxes
20,945
20,893
Other creditors
10,859
6,967
--------
--------
41,802
37,860
--------
--------
8. CREDITORS: amounts falling due after more than one year
2024
2023
£
£
Bank loans and overdrafts
9,172
19,167
-------
--------