Atscale Digital Limited
Unaudited Financial Statements
For the period ended 31 August 2024
Pages for Filing with Registrar
Company Registration No. 15317009 (England and Wales)
Atscale Digital Limited
Contents
Page
Balance sheet
1
Notes to the financial statements
2 - 4
Atscale Digital Limited
Balance Sheet
As at 31 August 2024
Page 1
2024
Notes
£
£
Current assets
Debtors
3
1,921
Cash at bank and in hand
132,889
134,810
Creditors: amounts falling due within one year
4
(118,492)
Net current assets
16,318
Capital and reserves
Called up share capital
5
100
Profit and loss reserves
16,218
Total equity
16,318
The director of the company has elected not to include a copy of the profit and loss account within the financial statements.true
For the financial period ended 31 August 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
The director acknowledges her responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.
The member has not required the company to obtain an audit of its financial statements for the period in question in accordance with section 476.
These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.
The financial statements were approved and signed by the director and authorised for issue on 29 May 2025
J Masterson
Director
Company Registration No. 15317009
Atscale Digital Limited
Notes to the Financial Statements
For the period ended 31 August 2024
Page 2
1
Accounting policies
Company information
Atscale Digital Limited is a private company limited by shares incorporated in England and Wales. The registered office is 24 St Ciuthberts Way, Darlington, United Kingdom, DL1 1GB.
1.1
Reporting period
The company was incorporated on 29 November 2023 and these financial statements cover the period of account from incorporation to 31 August 2024.
1.2
Accounting convention
These financial statements have been prepared in accordance with FRS 102 “The Financial Reporting Standard applicable in the UK and Republic of Ireland” (“FRS 102”) and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime.
The financial statements are prepared in sterling, which is the functional currency of the company. Monetary amounts in these financial statements are rounded to the nearest £.
The financial statements have been prepared under the historical cost convention. The principal accounting policies adopted are set out below.
1.3
Going concern
At the time of approving the financial statements, the director has a reasonable expectation that thetrue company has adequate resources to continue to trade in operational existence for the foreseeable future. Thus the directors continue to adopt the going concern basis of accounting in preparing the financial statements.
1.4
Turnover
Turnover is recognised at the fair value of the consideration received or receivable for goods and services provided in the normal course of business, and is shown net of VAT and other sales related taxes. The fair value of consideration takes into account trade discounts, settlement discounts and volume rebates.
When cash inflows are deferred and represent a financing arrangement, the fair value of the consideration is the present value of the future receipts. The difference between the fair value of the consideration and the nominal amount received is recognised as interest income.
Revenue from contracts for the provision of professional services is recognised by reference to the stage of completion when the stage of completion, costs incurred and costs to complete can be estimated reliably. The stage of completion is calculated by comparing costs incurred, mainly in relation to contractual hourly staff rates and materials, as a proportion of total costs. Where the outcome cannot be estimated reliably, revenue is recognised only to the extent of the expenses recognised that it is probable will be recovered.
1.5
Cash and cash equivalents
Cash and cash equivalents are basic financial assets and include cash in hand, deposits held at call with banks, other short-term liquid investments with original maturities of three months or less, and bank overdrafts. Bank overdrafts are shown within borrowings in current liabilities.
1.6
Financial instruments
The company only has basic financial instruments measured at amortised cost, with no financial instruments classified as other or basic instruments measured at fair value.
Atscale Digital Limited
Notes to the Financial Statements (Continued)
For the period ended 31 August 2024
1
Accounting policies
(Continued)
Page 3
1.7
Equity instruments
Equity instruments issued by the company are recorded at the proceeds received, net of transaction costs. Dividends payable on equity instruments are recognised as liabilities once they are no longer at the discretion of the company.
1.8
Taxation
The tax expense represents the sum of the tax currently payable and deferred tax.
Current tax
The tax currently payable is based on taxable profit for the year. Taxable profit differs from net profit as reported in the profit and loss account because it excludes items of income or expense that are taxable or deductible in other years and it further excludes items that are never taxable or deductible. The company’s liability for current tax is calculated using tax rates that have been enacted or substantively enacted by the reporting end date.
2
Employees
The average monthly number of persons (including directors) employed by the company during the period was:
2024
Number
Total
1
3
Debtors
2024
Amounts falling due within one year:
£
Trade debtors
60
Other debtors
100
Prepayments and accrued income
1,761
1,921
Atscale Digital Limited
Notes to the Financial Statements (Continued)
For the period ended 31 August 2024
Page 4
4
Creditors: amounts falling due within one year
2024
£
Trade creditors
49,160
Corporation tax
3,804
Other taxation and social security
1,890
Accruals and deferred income
63,638
118,492
5
Called up share capital
2024
2024
Ordinary share capital
Number
£
Issued and fully paid
Ordinary shares of £1 each
100
100
On incorporation, the company issued 100 Ordinary shares at par value.
6
Related party transactions
During the period the company made sales (net of VAT) of £92,734 to Mesh Marketing Limited, a related party by virtue of common control. At the year end there was an amount included in trade debtors of £60 owed by Mesh Marketing Limited, and an amount included in other creditors of £32,639 related to deferred income in respect of these sales. During the year the company also made purchases (net of VAT) of £18,716 from Mesh Marketing Limited. At the year end, there was an amount included in trade creditors of £22,460 owed to Mesh Marketing Limited, and an amount of £210 in other debtors related to prepaid costs in respect of these purchases.
7
Parent company
J Masterson is the ultimate controlling party by virtue of their 100% shareholding in the company.