2 01/02/2024 31/01/2025 2025-01-31 false false false false false false false true false false true false false false false false false false No description of principal activities is disclosed 2024-02-01 Sage Accounts Production 24.0 - FRS102_2024 xbrli:pure xbrli:shares iso4217:GBP 10550264 2024-02-01 2025-01-31 10550264 2025-01-31 10550264 2024-01-31 10550264 2023-02-01 2024-01-31 10550264 2024-01-31 10550264 2023-01-31 10550264 core:PlantMachinery 2024-02-01 2025-01-31 10550264 core:FurnitureFittingsToolsEquipment 2024-02-01 2025-01-31 10550264 core:MotorVehicles 2024-02-01 2025-01-31 10550264 bus:Director1 2024-02-01 2025-01-31 10550264 core:PlantMachinery 2024-01-31 10550264 core:FurnitureFittingsToolsEquipment 2024-01-31 10550264 core:MotorVehicles 2024-01-31 10550264 core:PlantMachinery 2025-01-31 10550264 core:FurnitureFittingsToolsEquipment 2025-01-31 10550264 core:MotorVehicles 2025-01-31 10550264 core:DeferredTaxation 2024-02-01 2025-01-31 10550264 core:WithinOneYear 2025-01-31 10550264 core:WithinOneYear 2024-01-31 10550264 core:ShareCapital 2025-01-31 10550264 core:ShareCapital 2024-01-31 10550264 core:RetainedEarningsAccumulatedLosses 2025-01-31 10550264 core:RetainedEarningsAccumulatedLosses 2024-01-31 10550264 core:AcceleratedTaxDepreciationDeferredTax 2025-01-31 10550264 core:AcceleratedTaxDepreciationDeferredTax 2024-01-31 10550264 core:TaxLossesCarry-forwardsDeferredTax 2025-01-31 10550264 core:MotorVehicles 2024-01-31 10550264 core:DeferredTaxation 2024-01-31 10550264 core:DeferredTaxation 2025-01-31 10550264 bus:Director1 2024-01-31 10550264 bus:Director1 2025-01-31 10550264 bus:Director1 2023-01-31 10550264 bus:Director1 2024-01-31 10550264 bus:Director1 2023-02-01 2024-01-31 10550264 bus:SmallEntities 2024-02-01 2025-01-31 10550264 bus:AuditExempt-NoAccountantsReport 2024-02-01 2025-01-31 10550264 bus:SmallCompaniesRegimeForAccounts 2024-02-01 2025-01-31 10550264 bus:PrivateLimitedCompanyLtd 2024-02-01 2025-01-31 10550264 bus:FullAccounts 2024-02-01 2025-01-31
Company registration number: 10550264
ASCENT INSTALLATION LTD
Unaudited filleted financial statements
31 January 2025
ASCENT INSTALLATION LTD
Contents
Statement of financial position
Notes to the financial statements
ASCENT INSTALLATION LTD
Statement of financial position
31 January 2025
2025 2024
Note £ £ £ £
Fixed assets
Tangible assets 5 2,372 2,314
_______ _______
2,372 2,314
Current assets
Debtors 6 19,008 17,817
Cash at bank and in hand 5,295 10,462
_______ _______
24,303 28,279
Creditors: amounts falling due
within one year 7 ( 42,528) ( 25,887)
_______ _______
Net current (liabilities)/assets ( 18,225) 2,392
_______ _______
Total assets less current liabilities ( 15,853) 4,706
Provisions for liabilities 8 ( 485) ( 474)
_______ _______
Net (liabilities)/assets ( 16,338) 4,232
_______ _______
Capital and reserves
Called up share capital 10 10
Profit and loss account ( 16,348) 4,222
_______ _______
Shareholders (deficit)/funds ( 16,338) 4,232
_______ _______
For the year ending 31 January 2025 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 financial statements for the year in question in accordance with section 476;
- The director acknowledges their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements.
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 statement of comprehensive income has not been delivered.
These financial statements were approved by the board of directors and authorised for issue on 04 April 2025 , and are signed on behalf of the board by:
Mr Michael Cresey
Director
Company registration number: 10550264
ASCENT INSTALLATION LTD
Notes to the financial statements
Year ended 31 January 2025
1. General information
The company is a private company limited by shares, registered in England. The address of the registered office is Ascent Installation Ltd, 16 Deep Lane, Clifton, Brighouse, West Yorkshire, HD6 4HF.
2. Statement of compliance
These financial statements have been prepared in compliance with the provisions of FRS 102, Section 1A, 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.
3. Accounting policies
Basis of preparation
The financial statements have been prepared on the historical cost basis, as modified by the revaluation of certain financial assets and liabilities and investment properties measured at fair value through profit or loss.
The financial statements are prepared in sterling, which is the functional currency of the entity.
Going concern
The director has considered the net asset deficiency of £16,338, the future profitability of the company and its ability to continue as a going concern. The director has confirmed that he will provide financial support for at least 12 months following the approval of these financial statements and is therefore satisfied that, for the foreseeable future, the company can meet its projected working capital requirements. Consequently, the financial statements have been prepared on a going concern basis.
Turnover
Turnover is measured at the fair value of the consideration received or receivable for goods supplied and services rendered, net of discounts and Value Added Tax.
Revenue from the sale of goods is recognised when the significant risks and rewards of ownership have transferred to the buyer (usually on despatch of the goods); the amount of revenue can be measured reliably; it is probable that the associated economic benefits will flow to the entity; and the costs incurred or to be incurred in respect of the transactions can be measured reliably.
When the outcome of a transaction involving the rendering of services can be reliably estimated, 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.
When the outcome of a transaction involving the rendering of services 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 the statement of comprehensive income, except to the extent that it relates to items recognised in other comprehensive income or directly in capital and reserves. In this case, tax is recognised in other comprehensive income or directly in capital and reserves, 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.
Tangible assets
tangible assets are initially recorded at cost, and are 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:
Tools and equipment - 25 % straight line
Office equipment - 33 % straight line
Motor vehicles - 25 % reducing balance
If there is an indication that there has been a significant change in depreciation rate, useful life or residual value of tangible assets, the depreciation is revised prospectively to reflect the new estimates.
Impairment
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.
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 in finance costs in profit or loss in the period it arises.
Financial instruments
A financial asset or a financial liability is recognised only when the company becomes a party to the contractual provisions of the instrument.
Basic financial instruments are initially recognised at the transaction price, unless the arrangement constitutes a financing transaction, where it is recognised at the present value of the future payments discounted at a market rate of interest for a similar debt instrument.
Debt instruments are subsequently measured at amortised cost.
Financial assets that are measured at cost or amortised cost are reviewed for objective evidence of impairment at the end of each reporting date. If there is objective evidence of impairment, an impairment loss is recognised in profit or loss immediately. Any reversals of impairment are recognised in profit or loss immediately, to the extent that the reversal does not result in a carrying amount of the financial asset that exceeds what the carrying amount would have been had the impairment not previously been recognised.
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. When contributions are not expected to be settled wholly within 12 months of the end of the reporting date in which the employees render the related service, the liability is measured on a discounted present value basis. The unwinding of the discount is recognised in finance costs in profit or loss in the period in which it arises.
4. Employee numbers
The average number of persons employed by the company during the year amounted to 2 (2024: 2 ).
5. Tangible assets
Tools and equipment Office equipment Motor vehicles Total
£ £ £ £
Cost
At 1 February 2024 5,443 2,129 13,000 20,572
Additions - 955 - 955
_______ _______ _______ _______
At 31 January 2025 5,443 3,084 13,000 21,527
_______ _______ _______ _______
Depreciation
At 1 February 2024 5,443 2,129 10,686 18,258
Charge for the year - 319 578 897
_______ _______ _______ _______
At 31 January 2025 5,443 2,448 11,264 19,155
_______ _______ _______ _______
Carrying amount
At 31 January 2025 - 636 1,736 2,372
_______ _______ _______ _______
At 31 January 2024 - - 2,314 2,314
_______ _______ _______ _______
6. Debtors
2025 2024
£ £
Trade debtors 4,017 17,042
Other debtors 14,991 775
_______ _______
19,008 17,817
_______ _______
7. Creditors: amounts falling due within one year
2025 2024
£ £
Trade creditors - 8,179
Corporation tax - 3,498
Social security and other taxes - 9,325
Other creditors 42,528 4,885
_______ _______
42,528 25,887
_______ _______
8. Provisions
Deferred tax (note 9) Total
£ £
At 1 February 2024 474 474
Additions 11 11
_______ _______
At 31 January 2025 485 485
_______ _______
9. Deferred tax
The deferred tax included in the statement of financial position is as follows:
2025 2024
£ £
Included in debtors (note 6) 2,774 -
Included in provisions (note 8) ( 485) ( 474)
_______ _______
2,289 ( 474)
_______ _______
The deferred tax account consists of the tax effect of timing differences in respect of:
2025 2024
£ £
Accelerated capital allowances ( 485) ( 474)
Unused tax losses 2,774 -
_______ _______
2,289 (474)
_______ _______
10. Directors advances, credits and guarantees
During the year the director entered into the following advances and credits with the company:
2025
Balance brought forward Advances /(credits) to the director Amounts repaid Balance o/standing
£ £ £ £
Mr Michael Cresey ( 3,910) ( 37,568) - ( 41,478)
_______ _______ _______ _______
2024
Balance brought forward Advances /(credits) to the director Amounts repaid Balance o/standing
£ £ £ £
Mr Michael Cresey ( 49,953) - 46,043 ( 3,910)
_______ _______ _______ _______
Credits on directors accounts are provided to the company unsecured, interest free and are repayable on demand.