Company Registration No. SC268054 (Scotland)
ASG2022 Limited
Unaudited accounts
for the year ended 31 October 2024
ASG2022 Limited
Unaudited accounts
Contents
ASG2022 Limited
Company Information
for the year ended 31 October 2024
Company Number
SC268054 (Scotland)
Registered Office
C/O CMM Accountancy
The Green House
Beechwood Business Park North
Inverness
IV2 3BL
Accountants
CMM Accountancy (Inverness) Limited
The Green House
Beechwood Business Park North
Inverness
IV2 3BL
ASG2022 Limited
Statement of financial position
as at 31 October 2024
Cash at bank and in hand
315,348
389,013
Creditors: amounts falling due within one year
(28,962)
(30,852)
Net current assets
508,081
504,183
Total assets less current liabilities
508,081
504,183
Provisions for liabilities
Other provisions
(45,000)
(112,500)
Net assets
463,081
391,683
Called up share capital
3,801
3,801
Capital redemption reserve
2,200
2,200
Profit and loss account
457,080
385,682
Shareholders' funds
463,081
391,683
For the year ending 31 October 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies. The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
The members have agreed to the preparation of abridged accounts for the year in accordance with Section 444(2A).
These accounts have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with the provisions of FRS 102 Section 1A - Small Entities. The profit and loss account has not been delivered to the Registrar of Companies.
The financial statements were approved by the Board of Directors and authorised for issue on 24 March 2025 and were signed on its behalf by
J Duncan
Director
Company Registration No. SC268054
ASG2022 Limited
Notes to the Accounts
for the year ended 31 October 2024
ASG2022 Limited is a private company, limited by shares, registered in Scotland, registration number SC268054. The registered office is C/O CMM Accountancy, The Green House, Beechwood Business Park North, Inverness, IV2 3BL.
2
Compliance with accounting standards
The accounts have been prepared in accordance with the provisions of FRS 102 Section 1A Small Entities. There were no material departures from that standard.
The principal accounting policies adopted in the preparation of the financial statements are set out below and have remained unchanged from the previous year, and also have been consistently applied within the same accounts.
The accounts have been prepared under the historical cost convention as modified by the revaluation of certain fixed assets.
The accounts are presented in £ sterling.
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. Turnover from the sale of goods is recognised when goods have been delivered to customers such that risks and rewards of ownership have transferred to them. Turnover 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.
Deferred tax arises as a result of including items of income and expenditure in taxation computations in periods different from those in which they are included in the company's accounts. Deferred tax is provided in full on timing differences which result in an obligation to pay more (or less) tax at a future date, at the average tax rates that are expected to apply when the timing differences reverse, based on current tax rates and laws.
Deferred tax assets and liabilities are not discounted.
The company has ceased trading and is currently in the process of collecting debts prior to being wound up.
Allotted, called up and fully paid:
3,800 Ordinary 'A' shares of £1 each
3,800
3,800
1 Ordinary 'B' shares of £1 each
1
1
Included in other debtors is a loan to J Duncan for £54,716 (2023 - £Nil). This loan is unsecured, attracts interest at the statutory rate and has no fixed terms of repayment.
Included in other debtors is a loan to F Boyd for £100,773 (2023 - £Nil). This loan is unsecured, attracts interest at the statutory rate and has no fixed terms of repayment.
ASG2022 Limited
Notes to the Accounts
for the year ended 31 October 2024
6
Average number of employees
During the year the average number of employees was 0 (2023: 0).