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REGISTERED NUMBER: 09502760 (England and Wales)


















UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MARCH 2024

FOR

ASPECT PROJECTS SOUTHERN LIMITED

ASPECT PROJECTS SOUTHERN LIMITED (REGISTERED NUMBER: 09502760)






CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 3

Chartered Accountants' Report 6

ASPECT PROJECTS SOUTHERN LIMITED

COMPANY INFORMATION
FOR THE YEAR ENDED 31 MARCH 2024







DIRECTORS: Mr R L Sayers
Mr D L Brett





REGISTERED OFFICE: First Floor
Chilworth Point
1 Chilworth Road
Southampton
Hampshire
SO16 7JQ





REGISTERED NUMBER: 09502760 (England and Wales)





ACCOUNTANTS: Rothmans LLP
Chartered Accountants
Chilworth Point
1 Chilworth Road
Southampton
SO16 7JQ

ASPECT PROJECTS SOUTHERN LIMITED (REGISTERED NUMBER: 09502760)

BALANCE SHEET
31 MARCH 2024

2024 2023
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 125,439 171,389

CURRENT ASSETS
Debtors 5 206,007 130,117
Cash at bank and in hand 11,556 111,919
217,563 242,036
CREDITORS
Amounts falling due within one year 6 146,126 89,270
NET CURRENT ASSETS 71,437 152,766
TOTAL ASSETS LESS CURRENT
LIABILITIES

196,876

324,155

CREDITORS
Amounts falling due after more than one
year

7

68,898

104,214
NET ASSETS 127,978 219,941

CAPITAL AND RESERVES
Called up share capital 100 100
Retained earnings 127,878 219,841
SHAREHOLDERS' FUNDS 127,978 219,941

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 31 December 2024 and were signed on its behalf by:





Mr R L Sayers - Director


ASPECT PROJECTS SOUTHERN LIMITED (REGISTERED NUMBER: 09502760)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024

1. STATUTORY INFORMATION

Aspect Projects Southern Limited 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. ACCOUNTING POLICIES

BASIS OF PREPARING THE FINANCIAL STATEMENTS
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. The financial statements have been prepared under the historical cost convention.

REVENUE RECOGNITION
Turnover is the amount derived from construction works stated after trade discounts and net of VAT.

Revenue is recognised when the amount of revenue can be measured reliably and it is probable that the economic benefits associated with the transaction will flow to the entity.

TANGIBLE FIXED ASSETS
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life or, if held under a finance lease, over the lease term, whichever is the shorter.
Plant and machinery - 20% straight line basis
Motor vehicles - 20% straight line basis
Computer equipment - 20% straight line basis

Tangible fixed assets are stated at historical cost less accumulated depreciation and any accumulated impairment losses. Historical cost included expenditure that is directly attributable to bringing the asset to the location and condition necessary for it to be capable of operating in the manner intended by management.

The assets' residual values, useful lives and depreciation methods are reviewed and if appropriate are adjusted if there is an indication of a significant change since the last reporting date.

TAXATION
Taxation for the year comprises of current 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 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 balance sheet date.

HIRE PURCHASE AND LEASING COMMITMENTS
Assets obtained under hire purchase contracts or finance leases are capitalised in the balance sheet. Those held under hire purchase contracts are depreciated over their estimated useful lives. Those held under finance leases are depreciated over their estimated useful lives or the lease term, whichever is the shorter.

The interest element of these obligations is charged to profit or loss over the relevant period. The capital element of the future payments is treated as a liability.

SHORT TERM DEBTORS AND CREDITORS
Debtors and creditors receivable and payable within one year or upon demand are recorded at transaction price whether or not a rate of interest is charged on the balance. Any losses arising from impairment are recognised in the income statement in other operating expenses.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 3 (2023 - 2 ) .

ASPECT PROJECTS SOUTHERN LIMITED (REGISTERED NUMBER: 09502760)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 MARCH 2024

4. TANGIBLE FIXED ASSETS
Plant and Motor Computer
machinery vehicles equipment Totals
£    £    £    £   
COST
At 1 April 2023 127,053 208,470 5,436 340,959
Additions 110 - - 110
At 31 March 2024 127,163 208,470 5,436 341,069
DEPRECIATION
At 1 April 2023 59,479 106,144 3,947 169,570
Charge for year 22,182 23,285 593 46,060
At 31 March 2024 81,661 129,429 4,540 215,630
NET BOOK VALUE
At 31 March 2024 45,502 79,041 896 125,439
At 31 March 2023 67,574 102,326 1,489 171,389

Fixed assets, included in the above, which are held under hire purchase contracts are as follows:
Motor
vehicles
£   
COST
At 1 April 2023
and 31 March 2024 112,190
DEPRECIATION
At 1 April 2023
and 31 March 2024 9,768
NET BOOK VALUE
At 31 March 2024 102,422
At 31 March 2023 102,422

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Trade debtors 201,639 89,364
Other debtors - 1,317
Director current account - 13,030
VAT 4,368 26,406
206,007 130,117

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Bank loans and overdrafts 10,265 9,992
Hire purchase contracts (see note 8) 24,920 24,385
Tax 32,980 49,355
Social security and other taxes - 60
Other creditors 73,941 2,704
Director current account 723 -
Accrued expenses 3,297 2,774
146,126 89,270

ASPECT PROJECTS SOUTHERN LIMITED (REGISTERED NUMBER: 09502760)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 MARCH 2024

7. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR
2024 2023
£    £   
Bank loans - 1-2 years 12,059 10,264
Bank loans - 2-5 years - 12,191
Hire purchase contracts (see note 8) 56,839 81,759
68,898 104,214

8. LEASING AGREEMENTS

Minimum lease payments under hire purchase fall due as follows:

2024 2023
£    £   
Net obligations repayable:
Within one year 24,920 24,385
Between one and five years 56,839 81,759
81,759 106,144

9. OTHER FINANCIAL COMMITMENTS

Any sales invoices the company raises are factored by Lloyds bank to provide the company with certainty that it will receive any and all amounts owed from trade debtors.

CHARTERED ACCOUNTANTS' REPORT TO THE BOARD OF DIRECTORS
ON THE UNAUDITED FINANCIAL STATEMENTS OF
ASPECT PROJECTS SOUTHERN LIMITED

The following reproduces the text of the report prepared for the directors in respect of the company's annual unaudited financial statements. In accordance with the Companies Act 2006, the company is only required to file a Balance Sheet. Readers are cautioned that the Income Statement and certain other primary statements and the Report of the Directors are not required to be filed with the Registrar of Companies.

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the financial statements of Aspect Projects Southern Limited for the year ended 31 March 2024 which comprise the Income Statement, Balance Sheet and the related notes from the company's accounting records and from information and explanations you have given us.

As a practising member firm of the Institute of Chartered Accountants in England and Wales (ICAEW), we are subject to its ethical and other professional requirements which are detailed within the ICAEW's regulations and guidance at http://www.icaew.com/en/membership/regulations-standards-and-guidance.

This report is made solely to the Board of Directors of Aspect Projects Southern Limited, as a body, in accordance with our terms of engagement. Our work has been undertaken solely to prepare for your approval the financial statements of Aspect Projects Southern Limited and state those matters that we have agreed to state to the Board of Directors of Aspect Projects Southern Limited, as a body, in this report in accordance with ICAEW Technical Release 07/16AAF. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than Aspect Projects Southern Limited and its Board of Directors, as a body, for our work or for this report.

It is your duty to ensure that Aspect Projects Southern Limited has kept adequate accounting records and to prepare statutory financial statements that give a true and fair view of the assets, liabilities, financial position and profit of Aspect Projects Southern Limited. You consider that Aspect Projects Southern Limited is exempt from the statutory audit requirement for the year.

We have not been instructed to carry out an audit or a review of the financial statements of Aspect Projects Southern Limited. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory financial statements.






Rothmans LLP
Chartered Accountants
Chilworth Point
1 Chilworth Road
Southampton
SO16 7JQ


Date: .............................................