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COMPANY REGISTRATION NUMBER: 04555373
ASE INVESTMENTS LIMITED
FILLETED UNAUDITED FINANCIAL STATEMENTS
FOR THE PERIOD ENDED
26 October 2023
ASE INVESTMENTS LIMITED
FINANCIAL STATEMENTS
PERIOD FROM 29 OCTOBER 2022 TO 26 OCTOBER 2023
CONTENTS
PAGES
Statement of financial position
1 to 2
Notes to the financial statements
3 to 5
ASE INVESTMENTS LIMITED
STATEMENT OF FINANCIAL POSITION
26 October 2023
26 Oct 23
28 Oct 22
Note
£
£
£
FIXED ASSETS
Tangible assets
6
4,584
CURRENT ASSETS
Debtors
7
171,794
86,754
Cash at bank and in hand
196,639
130,020
---------
---------
368,433
216,774
CREDITORS: amounts falling due within one year
8
( 337,826)
( 183,712)
---------
---------
NET CURRENT ASSETS
30,607
33,062
--------
--------
TOTAL ASSETS LESS CURRENT LIABILITIES
30,607
37,646
CREDITORS: amounts falling due after more than one year
9
( 15,944)
( 25,964)
PROVISIONS
Taxation including deferred tax
( 871)
--------
--------
NET ASSETS
14,663
10,811
--------
--------
CAPITAL AND RESERVES
Called up share capital
100
100
Profit and loss account
14,563
10,711
--------
--------
SHAREHOLDERS FUNDS
14,663
10,811
--------
--------
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 comprehensive income has not been delivered.
For the period ending 26 October 2023 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 period 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 .
ASE INVESTMENTS LIMITED
STATEMENT OF FINANCIAL POSITION (continued)
26 October 2023
These financial statements were approved by the board of directors and authorised for issue on 17 January 2025 , and are signed on behalf of the board by:
P Colebrook
Director
Company registration number: 04555373
ASE INVESTMENTS LIMITED
NOTES TO THE FINANCIAL STATEMENTS
PERIOD FROM 29 OCTOBER 2022 TO 26 OCTOBER 2023
1. GENERAL INFORMATION
The company is a private company limited by shares, registered in England and Wales. The address of the registered office is 26 West Street, West Butterwick, Scunthorpe, DN17 3LA.
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. The financial statements are prepared in sterling, which is the functional currency of the entity.
Revenue recognition
Turnover comprises revenue recognised by the company in respect of services supplied.
Tangible assets
Tangible assets are initially recorded at cost, and subsequently stated at cost less any accumulated depreciation to date.
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:
Fixtures and fittings
-
25% straight line
Computer equipment
-
33% straight line
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 transaction price and thereafter at fair value with changes recognised in profit and loss. The company holds the following financial assets and liabilities: Cash, Short-term trade and other debtors, and creditors. Cash in the balance sheet comprises cash at banks and in hand and short term deposits with an original maturity date of three months or less. Debtors and creditors with no stated interest rate and receivable or payable within one year are recorded at transaction price. Any losses arising from impairment are recognised in the profit and loss account before operating profit.
Defined contribution plans
Contributions to defined contribution plans are recognised as an expense in the period in which the related service is provided.
4. EMPLOYEE NUMBERS
The average number of persons employed by the company during the period amounted to 5 (2022: 5 ).
5. TAX ON PROFIT
Major components of tax expense
Period from
Period from
29 Oct 22 to
31 Oct 21 to
26 Oct 23
28 Oct 22
£
£
Current tax:
UK current tax expense
92,022
40,994
Deferred tax:
Origination and reversal of timing differences
( 871)
( 1,537)
--------
--------
Tax on profit
91,151
39,457
--------
--------
6. TANGIBLE ASSETS
Fixtures and fittings
Computer equipment
Total
£
£
£
Cost
At 29 October 2022 and 26 October 2023
38,515
2,127
40,642
--------
-------
--------
Depreciation
At 29 October 2022
34,640
1,418
36,058
Charge for the period
3,875
709
4,584
--------
-------
--------
At 26 October 2023
38,515
2,127
40,642
--------
-------
--------
Carrying amount
At 26 October 2023
--------
-------
--------
At 28 October 2022
3,875
709
4,584
--------
-------
--------
7. DEBTORS
26 Oct 23
28 Oct 22
£
£
Trade debtors
171,794
59,062
Other debtors
27,692
---------
--------
171,794
86,754
---------
--------
8. CREDITORS: amounts falling due within one year
26 Oct 23
28 Oct 22
£
£
Bank loans and overdrafts
10,000
10,000
Corporation tax
133,016
68,344
Social security and other taxes
28,565
14,413
Other creditors
166,245
90,955
---------
---------
337,826
183,712
---------
---------
9. CREDITORS: amounts falling due after more than one year
26 Oct 23
28 Oct 22
£
£
Bank loans and overdrafts
15,944
25,964
--------
--------