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REGISTERED NUMBER: 03151140 (England and Wales)















Unaudited Financial Statements for the Year Ended 31 August 2024

for

A.S.E.T.S (UK) LTD

A.S.E.T.S (UK) LTD (Registered number: 03151140)






Contents of the Financial Statements
for the Year Ended 31 August 2024




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


A.S.E.T.S (UK) LTD

Company Information
for the Year Ended 31 August 2024







DIRECTORS: Mr J Laughland
Mr A Morton





SECRETARY: Mr A Morton





REGISTERED OFFICE: 295-297 Church Street
Blackpool
Lancashire
FY1 3PJ





REGISTERED NUMBER: 03151140 (England and Wales)





ACCOUNTANTS: CCW Limited
Chartered Accountants
295/297 Church Street
Blackpool
Lancashire
FY1 3PJ

A.S.E.T.S (UK) LTD (Registered number: 03151140)

Balance Sheet
31 August 2024

31.8.24 31.8.23
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 87,003 68,300

CURRENT ASSETS
Stocks 2,500 6,508
Debtors 5 51,179 64,811
Cash at bank 120,626 139,851
174,305 211,170
CREDITORS
Amounts falling due within one year 6 145,336 137,781
NET CURRENT ASSETS 28,969 73,389
TOTAL ASSETS LESS CURRENT
LIABILITIES

115,972

141,689

CREDITORS
Amounts falling due after more than one year 7 (28,036 ) (65,137 )

PROVISIONS FOR LIABILITIES (6,871 ) (2,050 )
NET ASSETS 81,065 74,502

CAPITAL AND RESERVES
Called up share capital 120 120
Revaluation reserve 28,075 28,075
Retained earnings 52,870 46,307
SHAREHOLDERS' FUNDS 81,065 74,502

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

The members have not required the company to obtain an audit of its financial statements for the year ended 31 August 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.

A.S.E.T.S (UK) LTD (Registered number: 03151140)

Balance Sheet - continued
31 August 2024


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 20 February 2025 and were signed on its behalf by:





Mr J Laughland - Director


A.S.E.T.S (UK) LTD (Registered number: 03151140)

Notes to the Financial Statements
for the Year Ended 31 August 2024

1. STATUTORY INFORMATION

A.S.E.T.S (UK) LTD 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 as modified by the revaluation of certain assets.

Turnover
Turnover represents the value of services provided under contracts to the extent that there is a right to consideration and is recorded at the value of the consideration due. Where a contract has only been partially completed at the balance sheet date turnover represents the value of the service provided to date based on a proportion of the total expected consideration at completion. Where payments are received from customers in advance of services provided, the amounts are recorded as deferred income and included as part of creditors due within one year.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Freehold property - 2% on cost
Plant and machinery - 20% on cost
Fixtures and fittings - 20% on cost
Motor vehicles - 25% on cost
Computer equipment - 20% on cost

Stocks
Work in progress is valued at the lower of cost and net realisable value.

Cost is calculated using the first-in, first-out method and includes all purchase, transport, and handling costs in bringing stocks to their present location and condition.

Taxation
Taxation for the year comprises current and deferred 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 or deferred 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.


A.S.E.T.S (UK) LTD (Registered number: 03151140)

Notes to the Financial Statements - continued
for the Year Ended 31 August 2024

2. ACCOUNTING POLICIES - continued
Deferred tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date.

Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from those in which they are recognised in financial statements. Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the year end and that are expected to apply to the reversal of the timing difference.

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.

Hire purchase and leasing commitments
Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease.

Pension costs and other post-retirement benefits
The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 5 (2023 - 5 ) .

4. TANGIBLE FIXED ASSETS
Fixtures
Freehold Plant and and
property machinery fittings
£    £    £   
COST OR VALUATION
At 1 September 2023 60,000 378,180 6,600
Additions - 26,883 866
At 31 August 2024 60,000 405,063 7,466
DEPRECIATION
At 1 September 2023 2,400 368,704 6,600
Charge for year 1,200 10,255 173
At 31 August 2024 3,600 378,959 6,773
NET BOOK VALUE
At 31 August 2024 56,400 26,104 693
At 31 August 2023 57,600 9,476 -

A.S.E.T.S (UK) LTD (Registered number: 03151140)

Notes to the Financial Statements - continued
for the Year Ended 31 August 2024

4. TANGIBLE FIXED ASSETS - continued

Motor Computer
vehicles equipment Totals
£    £    £   
COST OR VALUATION
At 1 September 2023 55,026 61,370 561,176
Additions - 3,187 30,936
At 31 August 2024 55,026 64,557 592,112
DEPRECIATION
At 1 September 2023 55,026 60,146 492,876
Charge for year - 605 12,233
At 31 August 2024 55,026 60,751 505,109
NET BOOK VALUE
At 31 August 2024 - 3,806 87,003
At 31 August 2023 - 1,224 68,300

Cost or valuation at 31 August 2024 is represented by:

Fixtures
Freehold Plant and and
property machinery fittings
£    £    £   
Valuation in 2021 60,000 - -
Cost - 405,063 7,466
60,000 405,063 7,466

Motor Computer
vehicles equipment Totals
£    £    £   
Valuation in 2021 - - 60,000
Cost 55,026 64,557 532,112
55,026 64,557 592,112

A.S.E.T.S (UK) LTD (Registered number: 03151140)

Notes to the Financial Statements - continued
for the Year Ended 31 August 2024

4. TANGIBLE FIXED ASSETS - continued

If Freehold property had not been revalued it would have been included at the following historical cost:

31.8.24 31.8.23
£    £   
Cost 31,925 31,925
Aggregate depreciation 15,116 15,116

Value of land in freehold land and buildings 16,809 16,809

5. DEBTORS
31.8.24 31.8.23
£    £   
Amounts falling due within one year:
Trade debtors 35,810 22,399
Other debtors 12,686 38,231
48,496 60,630

Amounts falling due after more than one year:
Other debtors 2,683 4,181

Aggregate amounts 51,179 64,811

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.8.24 31.8.23
£    £   
Bank loans and overdrafts 5,620 5,308
Trade creditors 15,751 11,388
Taxation and social security 83,853 81,850
Other creditors 40,112 39,235
145,336 137,781

7. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
31.8.24 31.8.23
£    £   
Bank loans 20,540 31,710
Other creditors 7,496 33,427
28,036 65,137

A.S.E.T.S (UK) LTD (Registered number: 03151140)

Notes to the Financial Statements - continued
for the Year Ended 31 August 2024

7. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR - continued
31.8.24 31.8.23
£    £   
Amounts falling due in more than five years:

Repayable by instalments
Bank loans more 5 yr by instal - 9,105

8. DIRECTORS' ADVANCES, CREDITS AND GUARANTEES

The following advances and credits to directors subsisted during the years ended 31 August 2024 and 31 August 2023:

31.8.24 31.8.23
£    £   
Mr J Laughland
Balance outstanding at start of year 10,869 -
Amounts advanced 59,980 93,068
Amounts repaid (71,488 ) (82,199 )
Amounts written off - -
Amounts waived - -
Balance outstanding at end of year (639 ) 10,869

Mr A Morton
Balance outstanding at start of year 19,043 16,723
Amounts advanced 58,212 82,520
Amounts repaid (69,000 ) (80,200 )
Amounts written off - -
Amounts waived - -
Balance outstanding at end of year 8,255 19,043

The loans to the directors have no fixed repayment terms and interest is being charged at HMRC rate applicable to beneficial loan arrangements.

9. RELATED PARTY DISCLOSURES

Mr J Laughland and Mr A Morton jointly own a storage property rented by the company. No rent was paid to the directors during the year or in the previous year.