Company registration number 08559499 (England and Wales)
ASPIRE CONSULTING AND TRAINING LTD
UNAUDITED FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 JUNE 2024
PAGES FOR FILING WITH REGISTRAR
ASPIRE CONSULTING AND TRAINING LTD
COMPANY INFORMATION
Directors
Prof J Acharya
Mrs H T Acharya
Company number
08559499
Registered office
6 Repington Way
Sutton Coldfield
West Midlands
B75 7NB
Accountants
Ormerod Rutter Limited
The Oakley
Kidderminster Road
Droitwich
Worcestershire
WR9 9AY
Bankers
Santander UK Plc
PO Box 382
21 Prescott Street
London
E1 8AD
ASPIRE CONSULTING AND TRAINING LTD
CONTENTS
Page
Accountants' report
1
Balance sheet
2 - 3
Notes to the financial statements
4 - 7
ASPIRE CONSULTING AND TRAINING LTD
ACCOUNTANTS' REPORT TO THE BOARD OF DIRECTORS ON THE PREPARATION OF THE UNAUDITED STATUTORY FINANCIAL STATEMENTS OF ASPIRE CONSULTING AND TRAINING LTD FOR THE YEAR ENDED 30 JUNE 2024
- 1 -

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the financial statements of Aspire Consulting And Training Ltd for the year ended 30 June 2024 which comprise, the 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 at https://www.icaew.com/regulation.

This report is made solely to the board of directors of Aspire Consulting And Training Ltd, 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 Aspire Consulting And Training Ltd and state those matters that we have agreed to state to the board of directors of Aspire Consulting And Training Ltd, as a body, in this report in accordance with ICAEW Technical Release 07/16 AAF. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than Aspire Consulting And Training Ltd and its board of directors as a body, for our work or for this report.

It is your duty to ensure that Aspire Consulting And Training Ltd 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 Aspire Consulting And Training Ltd. You consider that Aspire Consulting And Training Ltd 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 Aspire Consulting And Training Ltd. 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.

Ormerod Rutter Limited
24 January 2025
Chartered Accountants
The Oakley
Kidderminster Road
Droitwich
Worcestershire
WR9 9AY
ASPIRE CONSULTING AND TRAINING LTD
BALANCE SHEET
AS AT 30 JUNE 2024
30 June 2024
- 2 -
2024
2023
Notes
£
£
£
£
Fixed assets
Tangible assets
3
2,418
2,756
Current assets
Debtors
4
53,851
37,447
Cash at bank and in hand
909
10,122
54,760
47,569
Creditors: amounts falling due within one year
5
(41,754)
(23,875)
Net current assets
13,006
23,694
Total assets less current liabilities
15,424
26,450
Creditors: amounts falling due after more than one year
6
(13,847)
(28,901)
Provisions for liabilities
8
(459)
-
0
Net assets/(liabilities)
1,118
(2,451)
Capital and reserves
Called up share capital
9
300
300
Profit and loss reserves
818
(2,751)
Total equity
1,118
(2,451)

The directors of the company have elected not to include a copy of the profit and loss account within the financial statements.true

For the financial year ended 30 June 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.

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.

These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

ASPIRE CONSULTING AND TRAINING LTD
BALANCE SHEET (CONTINUED)
AS AT 30 JUNE 2024
30 June 2024
- 3 -
The financial statements were approved by the board of directors and authorised for issue on 24 January 2025 and are signed on its behalf by:
Prof J Acharya
Director
Company registration number 08559499 (England and Wales)
ASPIRE CONSULTING AND TRAINING LTD
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 JUNE 2024
- 4 -
1
Accounting policies
Company information

Aspire Consulting And Training Ltd is a private company limited by shares incorporated in England and Wales. The registered office is 6 Repington Way, Sutton Coldfield, West Midlands, B75 7NB.

1.1
Accounting convention

These financial statements have been prepared in accordance with FRS 102 “The Financial Reporting Standard applicable in the UK and Republic of Ireland” (“FRS 102”) and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime. The disclosure requirements of section 1A of FRS 102 have been applied other than where additional disclosure is required to show a true and fair view.

The financial statements have been prepared under the historical cost convention. The principal accounting policies adopted are set out below.

1.2
Turnover

Turnover is recognised at the fair value of the consideration received or receivable for services provided in the normal course of business, and is shown net of VAT.

Revenue from the provision of services is recognised by reference to the stage of completion, when the costs incurred and costs to complete can be estimated reliably.

1.3
Tangible fixed assets

Tangible fixed assets are initially measured at cost and subsequently measured at cost or valuation, net of depreciation and any impairment losses.

Depreciation is recognised so as to write off the cost or valuation of assets less their residual values over their useful lives on the following bases:

Computer equipment
33% on cost
1.4
Taxation

The tax expense represents the sum of the tax currently payable and deferred tax.

Current tax

The tax currently payable is based on taxable profit for the year. Taxable profit differs from net profit as reported in the profit and loss account because it excludes items of income or expense that are taxable or deductible in other years and it further excludes items that are never taxable or deductible. The company’s liability for current tax is calculated using tax rates that have been enacted or substantively enacted by the reporting end date.

ASPIRE CONSULTING AND TRAINING LTD
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 30 JUNE 2024
1
Accounting policies
(Continued)
- 5 -
Deferred tax

Deferred tax liabilities are generally recognised for all timing differences and deferred tax assets are recognised to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits. Such assets and liabilities are not recognised if the timing difference arises from goodwill or from the initial recognition of other assets and liabilities in a transaction that affects neither the tax profit nor the accounting profit.

 

The carrying amount of deferred tax assets is reviewed at each reporting end date and reduced to the extent that it is no longer probable that sufficient taxable profits will be available to allow all or part of the asset to be recovered. Deferred tax is calculated at the tax rates that are expected to apply in the period when the liability is settled or the asset is realised. Deferred tax is charged or credited in the profit and loss account, except when it relates to items charged or credited directly to equity, in which case the deferred tax is also dealt with in equity. Deferred tax assets and liabilities are offset when the company has a legally enforceable right to offset current tax assets and liabilities and the deferred tax assets and liabilities relate to taxes levied by the same tax authority.

1.5
Employee benefits

The cost of any unused holiday entitlement is recognised in the period in which the employee’s services are received.

2
Employees

The average monthly number of persons (including directors) employed by the company during the year was:

2024
2023
Number
Number
Total
2
2
3
Tangible fixed assets
Computer equipment
£
Cost
At 1 July 2023
18,399
Additions
1,264
At 30 June 2024
19,663
Depreciation and impairment
At 1 July 2023
15,643
Depreciation charged in the year
1,602
At 30 June 2024
17,245
Carrying amount
At 30 June 2024
2,418
At 30 June 2023
2,756
ASPIRE CONSULTING AND TRAINING LTD
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 30 JUNE 2024
- 6 -
4
Debtors
2024
2023
Amounts falling due within one year:
£
£
Trade debtors
26,061
15,699
Other debtors
27,790
21,004
53,851
36,703
Deferred tax asset
-
0
744
53,851
37,447
5
Creditors: amounts falling due within one year
2024
2023
£
£
Bank loans
12,350
12,413
Trade creditors
4,302
332
Taxation and social security
22,072
8,582
Other creditors
3,030
2,548
41,754
23,875
6
Creditors: amounts falling due after more than one year
2024
2023
£
£
Bank loans and overdrafts
13,847
28,901
7
Secured debts
The following secured debts are included within creditors:
2024
2023
£
£
Bank loans
26,197
41,314
Bank loans are secured by way of a fixed and floating charge over all assets of the company and a government-backed guarantee.
8
Provisions for liabilities
2024
2023
£
£
Deferred tax liabilities
459
-
0
ASPIRE CONSULTING AND TRAINING LTD
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 30 JUNE 2024
- 7 -
9
Called up share capital
2024
2023
2024
2023
Ordinary share capital
Number
Number
£
£
Issued and fully paid
Ordinary A of £1 each
100
100
100
100
Ordinary B of £1 each
100
100
100
100
Ordinary C of £1 each
100
100
100
100
300
300
300
300
10
Directors' transactions

Advances or credits have been granted by the company to its directors as follows:

Description
% Rate
Opening balance
Amounts advanced
Interest charged
Amounts repaid
Closing balance
£
£
£
£
£
Loan accounts
2.25
15,088
41,132
1,154
(35,500)
21,874
15,088
41,132
1,154
(35,500)
21,874

The directors' loan accounts were repaid within nine months of the year end.

11
Ultimate controlling party

The ultimate controlling party is Mr J Acharya and Mrs H T Acharya.

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