2023-08-012024-07-312024-07-31false11468947ASPIRE MERCHANDISING 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ASPIRE MERCHANDISING LTD

Registered Number
11468947
(England and Wales)

Unaudited Financial Statements for the Year ended
31 July 2024

ASPIRE MERCHANDISING LTD
Company Information
for the year from 1 August 2023 to 31 July 2024

Director

BLAND, Nicholas Peter

Registered Address

27 Whitsun Pasture
Willen Park
Milton Keynes
MK15 9DQ

Registered Number

11468947 (England and Wales)
ASPIRE MERCHANDISING LTD
Balance Sheet as at
31 July 2024

Notes

2024

2023

£

£

£

£

Fixed assets
Tangible assets3214418
214418
Current assets
Stocks414,95212,916
Debtors94,77385,569
Cash at bank and on hand5,410-
115,13598,485
Creditors amounts falling due within one year5(81,775)(77,633)
Net current assets (liabilities)33,36020,852
Total assets less current liabilities33,57421,270
Creditors amounts falling due after one year6(33,508)(20,808)
Provisions for liabilities7(41)(79)
Net assets25383
Capital and reserves
Profit and loss account25383
Shareholders' funds25383
The financial statements were approved and authorised for issue by the Director on 4 April 2025, and are signed on its behalf by:
BLAND, Nicholas Peter
Director
Registered Company No. 11468947
ASPIRE MERCHANDISING LTD
Notes to the Financial Statements
for the year ended 31 July 2024

1.Accounting policies
Statutory information
The company is a private company limited by shares and registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.
Statement of compliance
The financial statements have been prepared in accordance with the Companies Act 2006 and FRS 102 The Financial Reporting Standard applicable in the UK and Republic of Ireland including Section 1A Small Entities.
Revenue from sale of goods
Revenue from the sale of goods is recognised when the company has transferred to the buyer the significant risks and rewards of ownership of the goods, usually when goods are delivered and legal title has passed. Providing the amount of revenue can be measured reliably, it is probable that the economic benefits associated with the transaction will flow to the company and the costs incurred or to be incurred in respect of the transition can be measured reliably.
Foreign currency translation
Transactions in foreign currencies are initially recognised at the rate of exchange ruling at the date of the transaction. At the end of each reporting period foreign currency monetary items are translated at the closing rate of exchange. Non-monetary items that are measured at historical cost are translated at the rate ruling at the date of the transaction. All differences are charged to profit or loss.
Deferred tax
Deferred tax is recognised in respect of all timing differences between the recognition of income and expenses in the financial statements and their inclusion in tax assessments. 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. 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, except for revalued land and investment property where the tax rate that applies to the sale of the asset is used. Current and deferred tax assets and liabilities are not discounted.
Tangible fixed assets and depreciation
All fixed assets are initially recorded at cost. Property, plant and equipment is used in the company's principal activity for the production and supply of goods or for administrative purposes and is stated in the balance sheet under the historic cost model. This model requires the assets to be stated at cost less amounts in respect of depreciation and less any accumulated impairment losses. Depreciation is calculated so as to write off the cost of an asset, less its estimated residual value (which is the expected amount that would currently be obtained from disposal of an asset, after deducting the estimated costs of disposal, if the asset were already of the age and in the condition expected at the end of its useful life), over the useful economic life of the respective asset as follows:

Straight line (years)
Office Equipment5
Stocks and work in progress
Stock is valued at the lower of cost and estimated selling price less costs to complete and sell. The cost methodology employed by the entity is the first-in first-out method. Estimated selling price less costs to complete and sell are derived from the selling price which the goods would fetch in an open market transaction with established customers less the costs expected to be incurred to enable the sale to complete. Provision is made for slow-moving and obsolete items of stock. Such provisions are recognised in profit or loss. Work in progress is valued using the percentage of completion method and values are calculated using the lower of cost and estimated selling price less costs to complete and sell. When stocks are sold, the carrying amount of those stocks is recognised as an expense within cost of sales. This takes place in the same period that the associated revenue is recognised.
2.Average number of employees

20242023
Average number of employees during the year11
3.Tangible fixed assets

Office Equipment

Total

££
Cost or valuation
At 01 August 231,9271,927
At 31 July 241,9271,927
Depreciation and impairment
At 01 August 231,5091,509
Charge for year204204
At 31 July 241,7131,713
Net book value
At 31 July 24214214
At 31 July 23418418
4.Stocks

2024

2023

££
Finished goods14,95212,916
Total14,95212,916
5.Creditors: amounts due within one year

2024

2023

££
Trade creditors / trade payables13343
Bank borrowings and overdrafts31,95336,752
Taxation and social security48,88940,038
Accrued liabilities and deferred income800800
Total81,77577,633
6.Creditors: amounts due after one year

2024

2023

££
Bank borrowings and overdrafts33,50820,808
Total33,50820,808
7.Provisions for liabilities

2024

2023

££
Net deferred tax liability (asset)4179
Total4179