REGISTERED NUMBER: 06304745 (England and Wales)

UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 JANUARY 2025

FOR

ASPECT FINANCIAL SOLUTIONS LTD

Page

Company Information

1

Balance Sheet

2

to

3

Notes to the Financial Statements

4

to

8

DIRECTORS:

Y L Oakley

S K Parry

SECRETARY:

Y L Oakley

REGISTERED OFFICE:

Courthill House

60 Water Lane

Wilmslow

Cheshire

SK9 5AJ

REGISTERED NUMBER:

06304745 (England and Wales)

ACCOUNTANTS:

DPC Accountants Ltd

Stone House

Stone Road Business Park

Stoke-On-Trent

ST4 6SR

FIXED ASSETS

Intangible assets

4

-

110

Tangible assets

5

3,637

2,979

3,637

3,089

CURRENT ASSETS

Debtors

6

104,823

64,155

Cash at bank

16,662

19,205

121,485

83,360

CREDITORS

Amounts falling due within one year

7

(15,352

)

(10,005

)

NET CURRENT ASSETS

106,133

73,355

TOTAL ASSETS LESS CURRENT LIABILITIES

109,770

76,444

CREDITORS

Amounts falling due after more than one year

8

(26,148

)

(31,647

)

PROVISIONS FOR LIABILITIES

(587

)

(587

)

NET ASSETS

83,035

44,210

CAPITAL AND RESERVES

Called up share capital

20,000

20,000

Retained earnings

63,035

24,210

83,035

44,210

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 January 2025.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 January 2025 in accordance with Section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for:

(a)	ensuring that the company keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006 and

(b)

preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of each financial year and of its profit or loss for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the company.

The financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 27 March 2025 and were signed on its behalf by:

Y L Oakley - Director

1.	STATUTORY INFORMATION

Aspect Financial Solutions Ltd is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.

The presentation currency of the financial statements is the Pound Sterling (£).

2.	ACCOUNTING POLICIES

BASIS OF PREPARING THE FINANCIAL STATEMENTS

These financial statements have been prepared in accordance with Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" including the provisions of Section 1A "Small Entities" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.

TURNOVER

Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

INTANGIBLE ASSETS

Intangible assets are initially measured at cost. After initial recognition, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses.

Computer software is being amortised evenly over its estimated useful life of five years.

TANGIBLE FIXED ASSETS

Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.

Plant and machinery etc

-

33.33% reducing balance and 15% reducing balance

FINANCIAL INSTRUMENTS

A financial asset or a financial liability is recognised only when the entity 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.

For all equity instruments regardless of significance, and other financial assets that are individually significant, these are assessed individually for impairment. Other financial assets are either assessed individually or grouped on the basis of similar credit risk characteristics.

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.

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.

TAXATION

Taxation for the year comprises current and deferred tax. Tax is recognised in the Income Statement, except to the extent that it relates to items recognised in other comprehensive income or directly in equity.

Current or deferred taxation assets and liabilities are not discounted.

Current tax is recognised at the amount of tax payable using the tax rates and laws that have been enacted or substantively enacted by the balance sheet date.

DEFERRED TAX

Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date.

Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from those in which they are recognised in financial statements. Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the year end and that are expected to apply to the reversal of the timing difference.

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.

PENSION COSTS AND OTHER POST-RETIREMENT BENEFITS

The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 3 (2024 - 3 ) .

4.	INTANGIBLE FIXED ASSETS

Computer

software

£

COST

At 1 February 2024

and 31 January 2025

550

AMORTISATION

At 1 February 2024

440

Amortisation for year

110

At 31 January 2025

550

NET BOOK VALUE

At 31 January 2025

-

At 31 January 2024

110

5.	TANGIBLE FIXED ASSETS

Fixtures

and

Computer

fittings

equipment

Totals

£

£

£

COST

At 1 February 2024

6,340

14,301

20,641

Additions

402

1,799

2,201

At 31 January 2025

6,742

16,100

22,842

DEPRECIATION

At 1 February 2024

5,823

11,839

17,662

Charge for year

137

1,406

1,543

At 31 January 2025

5,960

13,245

19,205

NET BOOK VALUE

At 31 January 2025

782

2,855

3,637

At 31 January 2024

517

2,462

2,979

6.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.1.25

31.1.24

£

£

Other debtors

11,061

10,988

Other investments

49,653

30,153

Directors' loan accounts

39,147

18,122

Tax

4,612

4,612

Prepayments

350

280

104,823

64,155

7.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.1.25

31.1.24

£

£

Bank loans and overdrafts

5,498

5,377

Trade creditors

502

959

Tax

8,766

2,431

Other creditors

586

1,238

15,352

10,005

8.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

31.1.25

31.1.24

£

£

Bank loans - 1-2 years

5,498

5,377

Bank loans - 2-5 years

16,493

16,131

Bank loans payable more than

5 years by instalments

4,157

10,139

26,148

31,647

31.1.25

31.1.24

£

£

Amounts falling due in more than five years:

Repayable by instalments

Bank loans payable more than

5 years by instalments

4,157

10,139

4,157

10,139

9.	DIRECTORS' ADVANCES, CREDITS AND GUARANTEES

The following advances and credits to a director subsisted during the years ended 31 January 2025 and 31 January 2024:

31.1.25

31.1.24

£

£

Y L Oakley

Balance outstanding at start of year

18,122

38,396

Amounts advanced

41,117

19,271

Amounts repaid

(20,092

)

(39,545

)

Amounts written off

-

-

Amounts waived

-

-

Balance outstanding at end of year

39,147

18,122

10.	POST BALANCE SHEET EVENTS

There were no significant events up to the date of approval of the financial statements by the Board.