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REGISTERED NUMBER: 03570927 (England and Wales)















UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MAY 2024

FOR

ASCENT ASSETS LIMITED

ASCENT ASSETS LIMITED (REGISTERED NUMBER: 03570927)






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




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 3


ASCENT ASSETS LIMITED

COMPANY INFORMATION
FOR THE YEAR ENDED 31 MAY 2024







DIRECTOR: Mrs E W Efrat





SECRETARY: Mrs E W Efrat





REGISTERED OFFICE: 40 Giles Coppice
Crystal Palace
London
SE19 1XF





REGISTERED NUMBER: 03570927 (England and Wales)





ACCOUNTANTS: Andrew Cross & Co.
Chartered Certified Accountants
6 Green Lane Business Park
238 Green Lane
New Eltham
London
SE9 3TL

ASCENT ASSETS LIMITED (REGISTERED NUMBER: 03570927)

BALANCE SHEET
31 MAY 2024

2024 2023
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 1,415 1,886

CURRENT ASSETS
Stocks 19,828 25,341
Debtors 5 478,272 62,634
Cash at bank 371,138 599,327
869,238 687,302
CREDITORS
Amounts falling due within one year 6 155,134 44,761
NET CURRENT ASSETS 714,104 642,541
TOTAL ASSETS LESS CURRENT
LIABILITIES

715,519

644,427

CAPITAL AND RESERVES
Called up share capital 4 4
Retained earnings 715,515 644,423
SHAREHOLDERS' FUNDS 715,519 644,427

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 May 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 May 2024 in accordance with Section 476 of the Companies Act 2006.

The director acknowledges her 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 director and authorised for issue on 24 January 2025 and were signed by:




Mrs E W Efrat - Director


ASCENT ASSETS LIMITED (REGISTERED NUMBER: 03570927)

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

1. STATUTORY INFORMATION

Ascent Assets 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.

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.

Turnover
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Plant and machinery etc - 25% on reducing balance

Work in progress
Work in progress at the year end date is valued in accordance with GAAP.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 1 (2023 - 1 ) .

4. TANGIBLE FIXED ASSETS
Plant and
machinery
etc
£   
COST
At 1 June 2023
and 31 May 2024 5,775
DEPRECIATION
At 1 June 2023 3,889
Charge for year 471
At 31 May 2024 4,360
NET BOOK VALUE
At 31 May 2024 1,415
At 31 May 2023 1,886

ASCENT ASSETS LIMITED (REGISTERED NUMBER: 03570927)

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

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Trade debtors 12,562 25,580
Other debtors 465,710 37,054
478,272 62,634

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Trade creditors 234 30
Taxation and social security 153,966 43,981
Other creditors 934 750
155,134 44,761

7. DIRECTOR'S ADVANCES, CREDITS AND GUARANTEES

The following advances and credits to a director subsisted during the years ended 31 May 2024 and 31 May 2023:

2024 2023
£    £   
Mrs E W Efrat
Balance outstanding at start of year 14,128 70,309
Amounts advanced 334,667 -
Amounts repaid - (56,181 )
Amounts written off - -
Amounts waived - -
Balance outstanding at end of year 348,795 14,128