| Ask Ian How Limited |
| Notes to the Accounts |
| for the year ended 31 January 2025 |
|
| 1 |
Accounting policies |
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Basis of preparation |
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The accounts have been prepared under the historical cost convention and in accordance with FRS 102, The Financial Reporting Standard applicable in the UK and Republic of Ireland (as applied to small entities by section 1A of the standard). |
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Going concern |
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The director believes the company is experiencing healthy levels of sales and profitability and that it is well placed to manage its business risks successfully. Accordingly he has a reasonable expectation that the company has adequate resources to continue in operational existence for the foreseeable future. Thus he continues to adopt the going concern basis of accounting in preparing the financial statements. |
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Turnover |
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Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover includes revenue earned from the sale of goods and from the rendering of services. Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods have transferred to the buyer. |
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Tangible fixed assets |
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Tangible fixed assets are measured at cost less accumulative depreciation and any accumulative impairment losses. Depreciation is provided on all tangible fixed assets at rates calculated to write off the cost, less estimated residual value, of each asset evenly over its expected useful life, as follows: |
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Plant and Equipment |
3 years straight line basis |
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Taxation |
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A current tax liability is recognised for the tax payable on the taxable profit of the current and past periods. A current tax asset is recognised in respect of a tax loss that can be carried back to recover tax paid in a previous period. Deferred tax is recognised in respect of all timing differences between the recognition of income and expenses in the financial statements and their inclusion in tax assessments.
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. 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. Current and deferred tax assets and liabilities are not discounted. |
|
| 2 |
Employees |
2025 |
|
2024 |
| Number |
Number |
|
|
Average number of persons employed by the company (including director) during the year |
|
1 |
|
1 |
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| 3 |
Tangible fixed assets |
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|
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Plant and Equipment |
| £ |
|
Cost |
|
At 1 February 2024 |
2,921 |
|
Additions |
160 |
|
At 31 January 2025 |
3,081 |
|
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|
|
|
|
|
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|
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Depreciation |
|
At 1 February 2024 |
2,786 |
|
Charge for the year |
169 |
|
At 31 January 2025 |
2,955 |
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|
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Net book value |
|
At 31 January 2025 |
126 |
|
At 31 January 2024 |
135 |
|
|
| 4 |
Debtors |
2025 |
|
2024 |
| £ |
£ |
|
Trade debtors |
379 |
|
120 |
|
Prepayments |
149 |
|
142 |
|
|
|
|
|
|
528 |
|
262 |
|
|
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|
| 5 |
Creditors: amounts falling due within one year |
2025 |
|
2024 |
| £ |
£ |
|
Other creditors |
|
452 |
|
1,905 |
|
Taxation and social security costs |
1,028 |
|
363 |
|
Accruals |
1,200 |
|
1,100 |
|
|
|
|
|
|
2,680 |
|
3,368 |
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| 6 |
Other information |
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Ask Ian How Limited is a private company limited by shares and incorporated in England. Its registered office is: 204a Roberttown Lane, Roberttown, Liversedge, West Yorkshire, WF15 7LF. |
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WF15 7LF |
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The financial statements are presented in Sterling, which is the functional currency of the company. |