Registration number: SC426608

Ascent Projects Limited

Profit and Loss Account for the Year Ended 30 June 2025

The company has not traded during the year. During this year, the company received no income and incurred no expenditure and therefore made neither profit nor loss.

Ascent Projects Limited

(Registration number: SC426608)
Balance Sheet as at 30 June 2025

	Note	2025 £	2024 £
Fixed assets
Tangible assets	3	2,430	2,430
Current assets
Debtors	4	2,469	-
Cash at bank and in hand		8,097	18,597
		10,566	18,597
Creditors: Amounts falling due within one year	6	(1,599)	(8,629)
Net current assets		8,967	9,968
Total assets less current liabilities		11,397	12,398
Provisions for liabilities	7	(462)	(462)
Net assets		10,935	11,936
Capital and reserves
Called up share capital	8	1,200	1,200
Retained earnings		9,735	10,736
Shareholders' funds		10,935	11,936

For the financial year ending 30 June 2025 the company was entitled to exemption from audit under section 480 of the Companies Act 2006 relating to dormant 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 25 September 2025
 

......................................... Paul McAndrew Director

Ascent Projects Limited

Notes to the Unaudited Financial Statements for the Year Ended 30 June 2025

1	General information

The company is a private company limited by share capital, incorporated in Scotland.

The address of its registered office is:
Newlands
The Wynd
Pitlessie
Cupar
KY15 7SX

These financial statements were authorised for issue by the director on 25 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.

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, fittings, equipment	n/a

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.

Ascent Projects Limited

Notes to the Unaudited Financial Statements for the Year Ended 30 June 2025

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

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.

Ascent Projects Limited

Notes to the Unaudited Financial Statements for the Year Ended 30 June 2025

3	Tangible assets

	Furniture, fittings and equipment  £	Total £
Cost or valuation
At 1 July 2024	24,456	24,456
At 30 June 2025	24,456	24,456
Depreciation
At 1 July 2024	22,026	22,026
At 30 June 2025	22,026	22,026
Carrying amount
At 30 June 2025	2,430	2,430
At 30 June 2024	2,430	2,430

4

Debtors

Current	2025 £	2024 £
Prepayments	2,469	-
	2,469	-

5	Cash and cash equivalents

	2025 £	2024 £
Cash at bank	8,097	18,597

6

Creditors

	Note	2025 £	2024 £
Due within one year
Loans and borrowings	9	499	113
Social security and other taxes		-	2,561
Accruals		1,100	1,100
Income tax liability		-	4,855
		1,599	8,629

Ascent Projects Limited

Notes to the Unaudited Financial Statements for the Year Ended 30 June 2025

7	Provisions for liabilities

	Deferred tax £	Total £
At 1 July 2024	462	462
At 30 June 2025	462	462

8	Share capital

Allotted, called up and fully paid shares

	2025		2024
	No.	£	No.	£
Ordinary shares of £1 each	1,200	1,200	1,200	1,200

9	Loans and borrowings

Current loans and borrowings

	2025 £	2024 £
Director current account	499	113