ASCF LIMITED Filleted accounts for Companies House (small and micro)

COMPANY REGISTRATION NUMBER: 04600976

ASCF LIMITED

Filleted Unaudited Financial Statements

For the year ended

31 December 2024

ASCF LIMITED

Statement of Financial Position

31 December 2024

	2024		2023
Note	£	£	£	£

Fixed assets

Tangible assets	5		38,315		38,823

Current assets

Stocks		9,555	9,495
Debtors	6	8,252	7,248
Cash at bank and in hand		15,152	28,268
		--------	--------
		32,959	45,011

Creditors: amounts falling due within one year	7	54,514		48,726
		--------		--------
Net current liabilities			21,555		3,715
			--------		--------
Total assets less current liabilities			16,760		35,108

Creditors: amounts falling due after more than one year	8		4,167		9,566

Provisions

Taxation including deferred tax	7,906	7,715
	--------	--------
Net assets	4,687	17,827
	--------	--------

Capital and reserves

Called up share capital	9	100	100
Profit and loss account		4,587	17,727
		-------	--------
Shareholders funds		4,687	17,827
		-------	--------

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 income and retained earnings has not been delivered.

ASCF LIMITED

Statement of Financial Position (continued)

31 December 2024

For the 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 financial statements for the year in question in accordance with section 476 ;

- The director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements .

These financial statements were approved by the board of directors and authorised for issue on 15 September 2025 , and are signed on behalf of the board by:

Mr J Lewis Director

Company registration number: 04600976

ASCF LIMITED

Notes to the Financial Statements

Year ended 31 December 2024

1. General information

The company is a private company limited by shares, registered in England and Wales. The registered office is The Old Emporium, Bow Street, Langport, Somerset, TA10 9PQ. The trading address is 1 The Castle House, Long Street, Sherborne, Dorset, DT9 3BU.

2. Statement of compliance

These financial statements have been prepared in compliance with Section 1A of FRS 102, 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland'.

3. Accounting policies

Basis of preparation

The financial statements have been prepared on the historical cost basis. The financial statements are prepared in sterling, which is the functional currency of the entity.

Going concern

At the year end the company had net current liabilities of £21,555 and is therefore dependent on the continuing financial support of the director to continue trading. The director has indicated that his continued support will be forthcoming for the foreseeable future and the company is meeting its day to day liabilities as they fall due. The director has also reviewed the company's current trading position and believe that it has sufficient resources and is well placed to manage its business risks successfully despite the current economic outlook. Accordingly, the director continues to adopt the going concern basis in preparing the accounts.

Revenue recognition

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.

Income tax

The taxation expense represents the aggregate amount of current and deferred tax recognised in the reporting period. Tax is recognised in profit or loss, except to the extent that it relates to items recognised in other comprehensive income or directly in equity. In this case, tax is recognised in other comprehensive income or directly in equity, 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 subsequently stated at cost less any accumulated depreciation and impairment losses.

Depreciation

Depreciation is calculated so as to write off the cost of an asset, less its residual value, over the useful economic life of that asset as follows:

Lease	-	10% straight line
Fixtures and fittings	-	10% reducing balance
Equipment	-	10% reducing balance

Impairment of fixed assets

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. For the purposes of impairment testing, when it is not possible to estimate the recoverable amount of an individual asset, an estimate is made of the recoverable amount of the cash-generating unit to which the asset belongs. The cash-generating unit is the smallest identifiable group of assets that includes the asset and generates cash inflows that largely independent of the cash inflows from other assets or groups of assets. For impairment testing of goodwill, the goodwill acquired in a business combination is, from the acquisition date, allocated to each of the cash-generating units that are expected to benefit from the synergies of the combination, irrespective of whether other assets or liabilities of the company are assigned to those units.

Stocks

Stocks are measured at the lower of cost and estimated selling price less costs to complete and sell. Cost includes all costs of purchase, costs of conversion and other costs incurred in bringing the stock to its present location and condition.

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 as a finance cost in profit or loss in the period it arises.

Financial instruments

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.

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 as a finance cost in profit or loss in the period in which it arises.

4. Particulars of employees

The average number of persons employed by the company during the year amounted to 14 (2023: 12 ).

5. Tangible assets

	Land and buildings	Fixtures and fittings	Equipment	Total
	£	£	£	£
Cost
At 1 January 2024	1,699	42,067	46,730	90,496
Additions	–	–	4,628	4,628
Disposals	–	–	( 2,006)	( 2,006)
	-------	--------	--------	--------
At 31 December 2024	1,699	42,067	49,352	93,118
	-------	--------	--------	--------
Depreciation
At 1 January 2024	1,699	28,862	21,112	51,673
Charge for the year	–	1,321	2,936	4,257
Disposals	–	–	( 1,127)	( 1,127)
	-------	--------	--------	--------
At 31 December 2024	1,699	30,183	22,921	54,803
	-------	--------	--------	--------
Carrying amount
At 31 December 2024	–	11,884	26,431	38,315
	-------	--------	--------	--------
At 31 December 2023	–	13,205	25,618	38,823
	-------	--------	--------	--------

6. Debtors

	2024	2023
	£	£
Other debtors	8,252	7,248
	-------	-------

7. Creditors: amounts falling due within one year

	2024	2023
	£	£
Bank loans and overdrafts	5,000	4,800
Trade creditors	2,120	6,822
Corporation tax	13,199	11,133
Social security and other taxes	28,925	20,166
Other creditors	5,270	5,805
	--------	--------
	54,514	48,726
	--------	--------

8. Creditors: amounts falling due after more than one year

	2024	2023
	£	£
Bank loans and overdrafts	4,167	9,566
	-------	-------

A bounce back loan was taken in 2020 repayable over 72 months. There was a payment holiday for the first 12 months, the first repayment being paid in November 2021.Interest is charged at 2 1/2% per annum with the first years interest having being paid by the UK Government. The loan is subject to the UK Government's Covid 19 Guarantee scheme.

9. Called up share capital

Authorised share capital

	2024		2023
	No.	£	No.	£
Ordinary shares of £ 1 each	100,000	100,000	100,000	100,000
	---------	---------	---------	---------

Issued, called up and fully paid

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

10. Commitments under operating leases

The total future minimum lease payments under non-cancellable operating leases are as follows:

	2024	2023
	£	£
Later than 5 years	146,250	172,250
	---------	---------

11. Director's advances, credits and guarantees

During the year the director entered into the following advances and credits with the company:

	2024
	Balance brought forward	Advances/ (credits) to the director	Amounts repaid	Balance outstanding
	£	£	£	£
Mr J Lewis	( 199)	19,157	( 19,115)	( 157)
	----	--------	--------	----

	2023
	Balance brought forward	Advances/ (credits) to the director	Amounts repaid	Balance outstanding
	£	£	£	£
Mr J Lewis	( 307)	14,819	( 14,711)	( 199)
	----	--------	--------	----

Advances to the director were repayable on demand and interest was charged at market rates.