Registration number: 12326379

Askaig Newington Limited

Contents

Company Information	1
Balance Sheet	2
Notes to the Unaudited Financial Statements	3 to 7

Askaig Newington Limited

Company Information

Director

Mr Adam Paul Flack

Registered office

6 Wrotham Business Park Wrotham Park Barnet Hertfordshire EN5 4SZ

Accountants

RS Partnership Ltd Chartered Certified Accountants10 Prospect Place Welwyn Hertfordshire AL6 9EW

Askaig Newington Limited

(Registration number: 12326379)
Balance Sheet as at 31 December 2024

	Note	2024 £	2023 £
Fixed assets
Tangible assets	4	7,168	8,327
Current assets
Debtors	5	29,170	713
Cash at bank and in hand		15,154	3,647
		44,324	4,360
Creditors: Amounts falling due within one year	6	(139,413)	(140,501)
Net current liabilities		(95,089)	(136,141)
Total assets less current liabilities		(87,921)	(127,814)
Creditors: Amounts falling due after more than one year	6	(2,862)	(5,138)
Net liabilities		(90,783)	(132,952)
Capital and reserves
Called up share capital	7	100	100
Retained earnings		(90,883)	(133,052)
Shareholders' deficit		(90,783)	(132,952)

For the financial year ending 31 December 2024 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 accounts for the year in question in accordance with section 476; and
•	The director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime. As permitted by section 444 (5A) of the Companies Act 2006, the director has not delivered to the registrar a copy of the Profit and Loss Account.

Approved and authorised by the director on 19 September 2025
 

......................................... Mr Adam Paul Flack Director

Askaig Newington Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 December 2024

1	General information

The company is a private company limited by share capital, incorporated in England and Wales.

The address of its registered office is:
6 Wrotham Business Park
Wrotham Park
Barnet
Hertfordshire
EN5 4SZ

The principal place of business is:
6 Wrotham Business Park
Wrotham Park
Barnet
Hertfordshire
EN5 4SZ

These financial statements were authorised for issue by the director on 19 September 2025.

2	Accounting policies

Summary of significant accounting policies and key accounting estimates

The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.

Statement of compliance

These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A smaller entities - 'The Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland' and the Companies Act 2006 (as applicable to companies subject to the small companies' regime).

Basis of preparation

These financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.

These financial statements are presented in Pounds Sterling (£), which is the Company’s functional currency. All amounts have been rounded to the nearest pound, unless otherwise indicated.

Revenue recognition

Turnover comprises the fair value of the consideration received or receivable for the sale of goods and provision of services in the ordinary course of the company’s activities. Turnover is shown net of sales/value added tax, returns, rebates and discounts.

The company recognises revenue when:
The amount of revenue can be reliably measured;
it is probable that future economic benefits will flow to the entity;
and specific criteria have been met for each of the company's activities.

Tax

The tax expense for the period comprises deferred tax. Tax is recognised in profit or loss, except that a change attributable to an item of income or expense recognised as other comprehensive income is also recognised directly in other comprehensive income.

Askaig Newington Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 December 2024

Deferred tax is recognised in respect of all timing differences between taxable profits and profits reported in the financial statements.

Unrelieved tax losses and other deferred tax assets are recognised when 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.

Tangible assets

Tangible assets are stated in the balance sheet at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.

The cost of tangible assets includes directly attributable incremental costs incurred in their acquisition and installation.

Depreciation

Depreciation is charged so as to write off the cost of assets, other than land and properties under construction over their estimated useful lives, as follows:

Asset class	Depreciation method and rate
Fixtures and fittings	25% Reducing balance
Computer equipment	25% Reducing balance

Cash and cash equivalents

Cash and cash equivalents comprise cash on hand and call deposits, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value.

Trade debtors

Trade debtors are amounts due from customers for merchandise sold or services performed in the ordinary course of business.

Trade debtors are recognised initially at the transaction price. They are subsequently measured at amortised cost using the effective interest method, less provision for impairment. A provision for the impairment of trade debtors is established when there is objective evidence that the company will not be able to collect all amounts due according to the original terms of the receivables.

Trade creditors

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Accounts payable are classified as current liabilities if the company does not have an unconditional right, at the end of the reporting period, to defer settlement of the creditor for at least twelve months after the reporting date. If there is an unconditional right to defer settlement for at least twelve months after the reporting date, they are presented as non-current liabilities.

Trade creditors are recognised initially at the transaction price and subsequently measured at amortised cost using the effective interest method.

Borrowings

Askaig Newington Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 December 2024

Interest-bearing borrowings are initially recorded at fair value, net of transaction costs. Interest-bearing borrowings are subsequently carried at amortised cost, with the difference between the proceeds, net of transaction costs, and the amount due on redemption being recognised as a charge to the profit and loss account over the period of the relevant borrowing.

Interest expense is recognised on the basis of the effective interest method and is included in interest payable and similar charges.

Borrowings are classified as current liabilities unless the company has an unconditional right to defer settlement of the liability for at least twelve months after the reporting date.

Share capital

Ordinary shares are classified as equity. Equity instruments are measured at the fair value of the cash or other resources received or receivable, net of the direct costs of issuing the equity instruments. If payment is deferred and the time value of money is material, the initial measurement is on a present value basis.

Defined contribution pension obligation

A defined contribution plan is a pension plan under which fixed contributions are paid into a pension fund and the company has no legal or constructive obligation to pay further contributions even if the fund does not hold sufficient assets to pay all employees the benefits relating to employee service in the current and prior periods.

Contributions to defined contribution plans are recognised as employee benefit expense when they are due. If contribution payments exceed the contribution due for service, the excess is recognised as a prepayment.

3	Staff numbers

The average number of persons employed by the company (including the director) during the year, was 4 (2023 - 4).

Askaig Newington Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 December 2024

4	Tangible assets

	Furniture, fittings and equipment  £	Total £
Cost or valuation
At 1 January 2024	11,691	11,691
Additions	1,232	1,232
At 31 December 2024	12,923	12,923
Depreciation
At 1 January 2024	3,364	3,364
Charge for the year	2,391	2,391
At 31 December 2024	5,755	5,755
Carrying amount
At 31 December 2024	7,168	7,168
At 31 December 2023	8,327	8,327

5

Debtors

	2024 £	2023 £
Prepayments	776	713
Other debtors	28,394	-
	29,170	713

6

Creditors

Creditors: amounts falling due within one year

	Note	2024 £	2023 £
Due within one year
Bank loans and overdrafts	8	2,328	2,271
Taxation and social security		17,380	8,419
Accruals and deferred income		26	-
Other creditors		1,959	6,803
Directors Loan Account		117,720	123,008
		139,413	140,501

Creditors: amounts falling due after more than one year

Askaig Newington Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 December 2024

	Note	2024 £	2023 £
Due after one year
Loans and borrowings	8	2,862	5,138

7	Share capital

Allotted, called up and fully paid shares

	2024		2023
	No.	£	No.	£
Ordinary of £1 each	100	100	100	100

8	Loans and borrowings

Non-current loans and borrowings

	2024 £	2023 £
Bank borrowings	2,862	5,138

Current loans and borrowings

	2024 £	2023 £
Bank borrowings	2,328	2,271