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Registration number: 12019959

Tasker Associates Ltd

Unaudited Financial Statements

for the Year Ended 31 May 2024

 

Contents

Balance Sheet

1

Notes to the Unaudited Financial Statements

2 to 5

 

(Registration number: 12019959)
Balance Sheet as at 31 May 2024

Note

2024
£

2023
£

Fixed assets

 

Tangible assets

4

3,262

3,572

Current assets

 

Debtors

5

10,134

9,338

Cash at bank and in hand

 

-

77

 

10,134

9,415

Creditors: Amounts falling due within one year

6

(12,602)

(12,501)

Net current liabilities

 

(2,468)

(3,086)

Total assets less current liabilities

 

794

486

Provisions for liabilities

(198)

(163)

Net assets

 

596

323

Capital and reserves

 

Called up share capital

100

100

Retained earnings

496

223

Shareholders' funds

 

596

323

For the financial year ending 31 May 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Director's responsibilities:

The members have not required the company to obtain an audit of its accounts for the year in question in accordance with section 476; and

The director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime. As permitted by section 444 (5A) of the Companies Act 2006, the director has not delivered to the registrar a copy of the Profit and Loss Account.

Approved and authorised by the director on 18 February 2025
 

.........................................
Mr Jason Fielding
Director

 

Notes to the Unaudited Financial Statements for the Year Ended 31 May 2024

1

General information

The company is a private company limited by share capital, incorporated in England.

The address of its registered office is:
Unit 1 The Cam Centre
Wilbury Way
Hitchin
Hertfordshire
SG4 0TW
England

These financial statements were authorised for issue by the director on 18 February 2025.

2

Accounting policies

Summary of significant accounting policies and key accounting estimates

The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.

Statement of compliance

These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A smaller entities - 'The Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland' and the Companies Act 2006 (as applicable to companies subject to the small companies' regime).

Basis of preparation

These financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.

The financial statements are prepared in sterling, which is the functional currency of the entity.

Going concern

At the year-end, the company had net current liabilities. The director has pledged his ongoing support of the company and as such the financial statements have been prepared on a going concern basis.

Judgements

The preparation of the financial statements requires management to make judgements, estimates and assumptions that affect the amounts reported. These estimates and judgements are continually reviewed and are based on experience and other factors, including expectations of future events that are believed to be reasonable under the circumstances.

Revenue recognition

Turnover comprises the fair value of the consideration received or receivable for the provision of services in the ordinary course of the company’s activities. Turnover is shown net of sales/value added tax, returns, rebates and discounts.

The company recognises revenue when:
The amount of revenue can be reliably measured;
it is probable that future economic benefits will flow to the entity;
and specific criteria have been met for each of the company's activities.

 

Notes to the Unaudited Financial Statements for the Year Ended 31 May 2024

Tax

The tax expense for the period comprises current and deferred tax. Tax is recognised in profit or loss, except that a change attributable to an item of income or expense recognised as other comprehensive income is also recognised directly in other comprehensive income.

Deferred tax is recognised in respect of all timing differences between taxable profits and profits reported in the financial statements.

Unrelieved tax losses and other deferred tax assets are recognised when 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.

Tangible assets

Tangible assets are stated in the balance sheet at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.

The cost of tangible assets includes directly attributable incremental costs incurred in their acquisition and installation.

Depreciation

Depreciation is charged so as to write off the cost of assets, other than land and properties under construction over their estimated useful lives, as follows:

Asset class

Depreciation method and rate

Office Equipment

25% Reducing Balance

Cash and cash equivalents

Cash and cash equivalents comprise cash on hand and call deposits.

Share capital

Ordinary shares are classified as equity. Equity instruments are measured at the fair value of the cash or other resources received or receivable, net of the direct costs of issuing the equity instruments. If payment is deferred and the time value of money is material, the initial measurement is on a present value basis.

Dividends

Dividend distribution to the company’s shareholders is recognised as a liability in the financial statements in the reporting period in which the dividends are declared.

3

Staff numbers

The average number of persons employed by the company (including the director) during the year, was 2 (2023 - 1).

 

Notes to the Unaudited Financial Statements for the Year Ended 31 May 2024

4

Tangible assets

Furniture, fittings and equipment
 £

Total
£

Cost or valuation

At 1 June 2023

8,974

8,974

Additions

779

779

At 31 May 2024

9,753

9,753

Depreciation

At 1 June 2023

5,403

5,403

Charge for the year

1,088

1,088

At 31 May 2024

6,491

6,491

Carrying amount

At 31 May 2024

3,262

3,262

At 31 May 2023

3,572

3,572

5

Debtors

Current

2024
£

2023
£

Trade debtors

4,800

-

Other debtors

5,334

9,338

 

10,134

9,338

6

Creditors

Creditors: amounts falling due within one year

Note

2024
£

2023
£

Due within one year

 

Loans and borrowings

11

740

-

Taxation and social security

 

11,112

11,781

Accruals and deferred income

 

750

720

 

12,602

12,501

 

Notes to the Unaudited Financial Statements for the Year Ended 31 May 2024

7

Share capital

Allotted, called up and fully paid shares

 

2024

2023

 

No.

£

No.

£

Ordinary shares of £1 each

100

100

100

100

         

8

Dividends

Interim dividends paid

2024
£

2023
£

Interim dividend of 140.00 (2023 - 305.00) per each Ordinary

14,000

30,500

 

 

9

Related party transactions

Other transactions with the director

At the company year end the director owed the company £5,333 (2023 : £9,339). This amount will be repaid within 9 months of the company year end.

10

Parent and ultimate parent undertaking

The ultimate controlling party is Jason Fielding as director and shareholder.

11

Loans and borrowings

Current loans and borrowings

2024
£

2023
£

Bank overdrafts

740

-