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COMPANY REGISTRATION NUMBER: 06233853
Asbri Planning Limited
Filleted Unaudited Financial Statements
For the year ended
31 May 2024
Asbri Planning Limited
Report to the Board of Directors on the Preparation of the Unaudited Statutory Financial Statements of Asbri Planning Limited
Year ended 31 May 2024
As described on the statement of financial position, the directors of the company are responsible for the preparation of the financial statements for the year ended 31 May 2024, which comprise the statement of financial position and the related notes. You consider that the company is exempt from an audit under the Companies Act 2006. In accordance with your instructions we have compiled these financial statements in order to assist you to fulfil your statutory responsibilities, from the accounting records and from information and explanations supplied to us.
CLAY SHAW THOMAS LTD
2 Oldfield Road Bocam Park Bridgend CF35 5LJ
26 February 2025
Asbri Planning Limited
Statement of Financial Position
31 May 2024
2024
2023
Note
£
£
£
Fixed assets
Tangible assets
5
23,875
27,936
Current assets
Debtors
6
516,378
432,606
Cash at bank and in hand
471,361
390,287
---------
---------
987,739
822,893
Creditors: amounts falling due within one year
7
735,721
518,990
---------
---------
Net current assets
252,018
303,903
---------
---------
Total assets less current liabilities
275,893
331,839
Creditors: amounts falling due after more than one year
8
9,754
20,006
Provisions
Taxation including deferred tax
5,187
7,153
---------
---------
Net assets
260,952
304,680
---------
---------
Capital and reserves
Called up share capital
100
100
Profit and loss account
260,852
304,580
---------
---------
Shareholders funds
260,952
304,680
---------
---------
These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with Section 1A of FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.
In accordance with section 444 of the Companies Act 2006, the income statement has not been delivered.
For the 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.
Directors' responsibilities:
- 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 ;
- The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements .
Asbri Planning Limited
Statement of Financial Position (continued)
31 May 2024
These financial statements were approved by the board of directors and authorised for issue on 26 February 2025 , and are signed on behalf of the board by:
Mr R Bowen
Mr B Davies
Director
Director
Company registration number: 06233853
Asbri Planning Limited
Notes to the Financial Statements
Year ended 31 May 2024
1. General information
The company is a private company limited by shares, registered in England and Wales. The address of the registered office is 2 Oldfield Road, Bocam Park, Bridgend County Borough, CF35 5LJ, Bridgend.
2. Statement of compliance
These financial statements have been prepared in compliance with Section 1A of FRS 102, 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland'.
3. Accounting policies
Basis of preparation
The financial statements have been prepared on the historical cost basis. The financial statements are prepared in sterling, which is the functional currency of the entity.
Going concern
The directors have assessed whether there are any material uncertainties that may cast significant doubt about the company’s ability to continue to adopt the going concern basis of accounting for a period of at least twelve months from the date when the financial statements are authorised for issue. In assessing whether the going concern assumption is appropriate, the directors have taken in to account all available information about the future and conclude that the company has adequate resources to continue in operational existence for the foreseeable future. The company therefore continues to adopt the going concern basis in preparing its financial statements.
Revenue recognition
The turnover shown in the profit and loss account represents amounts invoiced during the year, exclusive of Value Added Tax for town planning and development consultancy. Revenue from the rendering of services is measured by reference to the stage of completion of the service transaction at the end of the reporting period provided that the outcome can be reliably estimated. When the outcome cannot be reliably estimated, revenue is recognised only to the extent that it is probable the expenses recognised will be recovered.
Taxation
The taxation expense represents the aggregate amount of current and deferred tax recognised in the reporting period. Tax is recognised in profit or loss, except to the extent that it relates to items recognised in other comprehensive income or directly in equity. In this case, tax is recognised in other comprehensive income or directly in equity, respectively. Current tax is recognised on taxable profit for the current and past periods. Current tax is measured at the amounts of tax expected to pay or recover using the tax rates and laws that have been enacted or substantively enacted at the reporting date.
Deferred tax is recognised in respect of all timing differences at the reporting date. Unrelieved tax losses and other 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. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date that are expected to apply to the reversal of the timing difference.
Operating leases
Lease payments are recognised as an expense over the lease term on a straight-line basis. The aggregate benefit of lease incentives is recognised as a reduction to expense over the lease term, on a straight-line basis.
Tangible assets
Tangible assets are initially recorded at cost, and subsequently stated at cost less any accumulated depreciation and impairment losses. Any tangible assets carried at revalued amounts are recorded at the fair value at the date of revaluation less any subsequent accumulated depreciation and subsequent accumulated impairment losses.
Depreciation
Depreciation is calculated so as to write off the cost or valuation of an asset, less its residual value, over the useful economic life of that asset as follows:
Fixture and Fittings
-
10% straight line
Computer Equipment
-
33% straight line
Impairment of fixed assets
A review for indicators of impairment is carried out at each reporting date, with the recoverable amount being estimated where such indicators exist. Where the carrying value exceeds the recoverable amount, the asset is impaired accordingly. Prior impairments are also reviewed for possible reversal at each reporting date. For the purposes of impairment testing, when it is not possible to estimate the recoverable amount of an individual asset, an estimate is made of the recoverable amount of the cash-generating unit to which the asset belongs. The cash-generating unit is the smallest identifiable group of assets that includes the asset and generates cash inflows that largely independent of the cash inflows from other assets or groups of assets.
Provisions
Provisions are recognised when the entity has an obligation at the reporting date as a result of a past event, it is probable that the entity will be required to transfer economic benefits in settlement and the amount of the obligation can be estimated reliably. Provisions are recognised as a liability in the statement of financial position and the amount of the provision as an expense. Provisions are initially measured at the best estimate of the amount required to settle the obligation at the reporting date and subsequently reviewed at each reporting date and adjusted to reflect the current best estimate of the amount that would be required to settle the obligation. Any adjustments to the amounts previously recognised are recognised in profit or loss unless the provision was originally recognised as part of the cost of an asset. When a provision is measured at the present value of the amount expected to be required to settle the obligation, the unwinding of the discount is recognised as a finance cost in profit or loss in the period it arises.
Financial instruments
Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instrument is any contract that evidences a residual interest in the assets of the entity after deducting all of its financial liabilities. Where the contractual obligations of financial instruments (including share capital) are equivalent to a similar debt instrument, those financial instruments are classed as financial liabilities. Financial liabilities are presented as such in the balance sheet. Finance costs and gains or losses relating to financial liabilities are included in the profit and loss account. Finance costs are calculated so as to produce a constant rate of return on the outstanding liability. Where the contractual terms of share capital do not have any terms meeting the definition of a financial liability then this is classed as an equity instrument. Dividends and distributions relating to equity instruments are debited direct to equity.
Defined contribution plans
Contributions to defined contribution plans are recognised as an expense in the period in which the related service is provided. Prepaid contributions are recognised as an asset to the extent that the prepayment will lead to a reduction in future payments or a cash refund.
4. Employee numbers
The average number of persons employed by the company during the year amounted to 16 (2023: 16 ).
5. Tangible assets
Fixtures and fittings
Equipment
Total
£
£
£
Cost
At 1 June 2023
96,979
188,827
285,806
Additions
16,371
16,371
Disposals
( 146,853)
( 146,853)
--------
---------
---------
At 31 May 2024
96,979
58,345
155,324
--------
---------
---------
Depreciation
At 1 June 2023
87,980
169,890
257,870
Charge for the year
7,635
9,606
17,241
Disposals
( 143,662)
( 143,662)
--------
---------
---------
At 31 May 2024
95,615
35,834
131,449
--------
---------
---------
Carrying amount
At 31 May 2024
1,364
22,511
23,875
--------
---------
---------
At 31 May 2023
8,999
18,937
27,936
--------
---------
---------
6. Debtors
2024
2023
£
£
Trade debtors
400,807
394,105
Other debtors
115,571
38,501
---------
---------
516,378
432,606
---------
---------
7. Creditors: amounts falling due within one year
2024
2023
£
£
Bank loans and overdrafts
76,317
9,994
Trade creditors
71,176
18,094
Amounts owed to group undertakings
298,474
315,007
Social security and other taxes
150,326
108,538
Other creditors
139,428
67,357
---------
---------
735,721
518,990
---------
---------
Amounts owed to group undertakings are repayable on demand and without accruing interest.
8. Creditors: amounts falling due after more than one year
2024
2023
£
£
Bank loans and overdrafts
9,754
20,006
-------
--------
9. Operating leases
The total future minimum lease payments under non-cancellable operating leases are as follows:
2024
2023
£
£
Not later than 1 year
20,629
48,619
Later than 1 year and not later than 5 years
20,877
--------
--------
20,629
69,496
--------
--------
10. Related party transactions
Asbri Planning Limited is a 100% subsidiary of Partneriaeth Asbri Cyf, and as such has taken advantage of the exemption stated in section 33 of FRS102 whereby disclosure need not be given of transactions entered into between two or more members of the same group, provided that any subsidiary which party to the transaction is wholly owned by such member.
11. Controlling party
The company is a wholly owned subsidiary of Partneriaeth Asbri Cyf, a company registered in England and Wales. In the opinion of the directors there is no ultimate controlling party.