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Ainscough Associates Limited

Registered Number
06872703
(England and Wales)

Unaudited Financial Statements for the Year ended
30 April 2024

Ainscough Associates Limited
Company Information
for the year from 1 May 2023 to 30 April 2024

Directors

John Ainscough
Rebecca Hill

Registered Address

2 Upperton Gardens
Eastbourne
BN21 2AH

Registered Number

06872703 (England and Wales)
Ainscough Associates Limited
Statement of Financial Position
30 April 2024

Notes

2024

2023

£

£

£

£

Fixed assets
Intangible assets320,000-
Tangible assets426,04533,786
46,04533,786
Current assets
Debtors589,091103,747
Cash at bank and on hand61,08891,434
150,179195,181
Creditors amounts falling due within one year6(53,723)(71,209)
Net current assets (liabilities)96,456123,972
Total assets less current liabilities142,501157,758
Provisions for liabilities7(6,511)(6,419)
Net assets135,990151,339
Capital and reserves
Called up share capital22
Profit and loss account135,988151,337
Shareholders' funds135,990151,339
The financial statements were approved and authorised for issue by the Board of Directors on 29 January 2025, and are signed on its behalf by:
John Ainscough
Director
Registered Company No. 06872703
Ainscough Associates Limited
Notes to the Financial Statements
for the year ended 30 April 2024

1.Accounting policies
Statutory information
The company is a private company limited by shares and registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.
Statement of compliance
The financial statements have been prepared in compliance with FRS 102 Section 1A as it applies to the financial statements for the period and there were no material departures from the reporting standard.
Revenue from rendering of services
Revenue from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs. Turnover is only recognised to the extent of recoverable expenses when the outcome of a contract cannot be estimated reliably.
Employee benefits
Contributions to defined contribution plans are expensed in the period to which they relate.
Foreign currency translation
Transactions in foreign currencies are initially recognised at the rate of exchange ruling at the date of the transaction. At the end of each reporting period foreign currency monetary items are translated at the closing rate of exchange. Non-monetary items that are measured at historical cost are translated at the rate ruling at the date of the transaction. All differences are charged to profit or loss.
Deferred tax
Deferred tax is recognised in respect of all timing differences between the recognition of income and expenses in the financial statements and their inclusion in tax assessments. Unrelieved tax losses and other deferred tax assets are recognised only to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date and that are expected to apply to the reversal of the timing difference, except for revalued land and investment property where the tax rate that applies to the sale of the asset is used. Current and deferred tax assets and liabilities are not discounted.
Intangible assets
Intangible assets include investments in cryptocurrency which are recognised under the revaluation model. This is considered appropriate as there is an active market for the currencies invested on which to base their value. Amortisation is not recognised as the currencies are considered to have indefinite life.
Tangible fixed assets and depreciation
Tangible fixed assets are stated at cost or valuation less depreciation. Depreciation is provided on all tangible fixed assets as follows:

Reducing balance (%)
Plant and machinery25
Vehicles25
Office Equipment25
Trade and other debtors
Short term debtors are measured at transaction price (which is usually the invoice price), less any impairment losses for bad and doubtful debts. Loans and other financial assets are initially recognised at transaction price including any transaction costs and subsequently measured at amortised cost determined using the effective interest method, less any impairment losses for bad and doubtful debts.
2.Average number of employees

20242023
Average number of employees during the year22
3.Intangible assets

Other

Total

££
Cost or valuation
Additions20,00020,000
At 30 April 2420,00020,000
Net book value
At 30 April 2420,00020,000
At 30 April 23--
4.Tangible fixed assets

Plant & machinery

Vehicles

Office Equipment

Total

££££
Cost or valuation
At 01 May 2379547,43316,36564,593
Additions--881881
At 30 April 2479547,43317,24665,474
Depreciation and impairment
At 01 May 2373416,21313,86030,807
Charge for year157,8058028,622
At 30 April 2474924,01814,66239,429
Net book value
At 30 April 244623,4152,58426,045
At 30 April 236131,2202,50533,786
5.Debtors: amounts due within one year

2024

2023

££
Trade debtors / trade receivables86,918103,538
Prepayments and accrued income2,173209
Total89,091103,747
6.Creditors: amounts due within one year

2024

2023

££
Trade creditors / trade payables28,34041,447
Taxation and social security23,96229,513
Other creditors984249
Accrued liabilities and deferred income437-
Total53,72371,209
Short term creditors are measured at transaction price (which is usually the invoice price). Loans and other financial liabilities are initially recognised at transaction price net of any transaction costs and subsequently measured at amortised cost determined using the effective interest method.
7.Provisions for liabilities

2024

2023

££
Net deferred tax liability (asset)6,5116,419
Total6,5116,419