A.S.E.T.S (UK) LTD - Accounts to registrar (filleted)

REGISTERED NUMBER: 03151140 (England and Wales)

Unaudited Financial Statements for the Year Ended 31 August 2025

for

A.S.E.T.S (UK) LTD

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

4

DIRECTORS:

Mr J Laughland

Mr A Morton

SECRETARY:

Mr A Morton

REGISTERED OFFICE:

295-297 Church Street

Blackpool

Lancashire

FY1 3PJ

BUSINESS ADDRESS:

Rear of 37 Westminster Road

Blackpool

FY1 2QE

REGISTERED NUMBER:

03151140 (England and Wales)

ACCOUNTANTS:

CCW Limited

Chartered Accountants

295/297 Church Street

Blackpool

Lancashire

FY1 3PJ

FIXED ASSETS

Tangible assets

4

84,312

87,003

CURRENT ASSETS

Stocks

5,085

2,500

Debtors

5

23,889

51,179

Cash at bank

125,409

120,626

154,383

174,305

CREDITORS

Amounts falling due within one year

6

105,248

145,336

NET CURRENT ASSETS

49,135

28,969

TOTAL ASSETS LESS CURRENT
LIABILITIES

133,447

115,972

CREDITORS

Amounts falling due after more than one year

7

(85,131

)

(28,036

)

PROVISIONS FOR LIABILITIES

(6,385

)

(6,871

)

NET ASSETS

41,931

81,065

CAPITAL AND RESERVES

Called up share capital

120

Revaluation reserve

28,075

Retained earnings

13,736

52,870

SHAREHOLDERS' FUNDS

41,931

81,065

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

The members have not required the company to obtain an audit of its financial statements for the year ended 31 August 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 11 December 2025 and were signed on its behalf by:

Mr J Laughland - Director

1.	STATUTORY INFORMATION

A.S.E.T.S (UK) 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.

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 as modified by the revaluation of certain assets.

Turnover

Turnover represents the value of services provided under contracts to the extent that there is a right to consideration and is recorded at the value of the consideration due. Where a contract has only been partially completed at the balance sheet date turnover represents the value of the service provided to date based on a proportion of the total expected consideration at completion. Where payments are received from customers in advance of services provided, the amounts are recorded as deferred income and included as part of creditors due within one year.

Tangible fixed assets

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

Freehold property

-

2% on cost

Plant and machinery

-

20% on cost

Fixtures and fittings

-

20% on cost

Motor vehicles

-

25% on cost

Computer equipment

-

20% on cost

Stocks

Work in progress is valued at the lower of cost and net realisable value.

Cost is calculated using the first-in, first-out method and includes all purchase, transport, and handling costs in bringing stocks to their present location and condition.

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.

Hire purchase and leasing commitments

Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease.

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 6 (2024 - 5 ) .

4.	TANGIBLE FIXED ASSETS

Fixtures

Freehold

Plant and

and

property

machinery

fittings

£

COST OR VALUATION

At 1 September 2024

60,000

405,063

7,466

Additions

-

At 31 August 2025

60,000

405,063

7,466

DEPRECIATION

At 1 September 2024

3,600

378,959

6,773

Charge for year

1,200

7,555

173

At 31 August 2025

4,800

386,514

6,946

NET BOOK VALUE

At 31 August 2025

55,200

18,549

520

At 31 August 2024

56,400

26,104

693

Motor

Computer

vehicles

equipment

Totals

£

COST OR VALUATION

At 1 September 2024

55,026

64,557

592,112

Additions

-

9,427

At 31 August 2025

55,026

73,984

601,539

DEPRECIATION

At 1 September 2024

55,026

60,751

505,109

Charge for year

-

3,190

12,118

At 31 August 2025

55,026

63,941

517,227

NET BOOK VALUE

At 31 August 2025

-

10,043

84,312

At 31 August 2024

-

3,806

87,003

Cost or valuation at 31 August 2025 is represented by:

Fixtures

Freehold

Plant and

and

property

machinery

fittings

£

Valuation in 2021

60,000

-

Cost

-

405,063

7,466

60,000

405,063

7,466

Motor

Computer

vehicles

equipment

Totals

£

Valuation in 2021

-

60,000

Cost

55,026

73,984

541,539

55,026

73,984

601,539

If Freehold property had not been revalued it would have been included at the following historical cost:

31.8.25

31.8.24

£

Cost

31,925

Aggregate depreciation

15,116

Value of land in freehold land and buildings

16,809

5.

DEBTORS

31.8.25

31.8.24

£

Amounts falling due within one year:

Trade debtors

9,631

35,810

Other debtors

11,641

12,686

21,272

48,496

Amounts falling due after more than one year:

Other debtors

2,617

2,683

Aggregate amounts

23,889

51,179

6.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.8.25

31.8.24

£

Bank loans and overdrafts

5,901

5,620

Trade creditors

11,731

15,751

Taxation and social security

61,326

83,853

Other creditors

26,290

40,112

105,248

145,336

7.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR

31.8.25

31.8.24

£

Bank loans

9,131

20,540

Other creditors

76,000

7,496

85,131

28,036

8.	DIRECTORS' ADVANCES, CREDITS AND GUARANTEES

The following advances and credits to directors subsisted during the years ended 31 August 2025 and 31 August 2024:

31.8.25

31.8.24

£

Mr J Laughland

Balance outstanding at start of year

(639

)

10,869

Amounts advanced

63,594

59,980

Amounts repaid

(73,043

)

(71,488

)

Amounts written off

-

Amounts waived

-

Balance outstanding at end of year

(10,088

)

(639

)

Mr A Morton

Balance outstanding at start of year

8,255

19,043

Amounts advanced

68,799

58,212

Amounts repaid

(69,000

)

(69,000

)

Amounts written off

-

Amounts waived

-

Balance outstanding at end of year

8,054

8,255

The loans to the directors have no fixed repayment terms and interest is being charged at HMRC rate applicable to beneficial loan arrangements.

9.	RELATED PARTY DISCLOSURES

Mr J Laughland and Mr A Morton jointly own a storage property rented by the company. No rent was paid to the directors during the year or in the previous year.