Company No: 13051945 (England)

Contents

• Company Information
• Balance Sheet
• Notes to the Financial Statements

DIRECTOR

Dr A Kalsi

REGISTERED OFFICE	71-75 Shelton Street
	Covent Garden
	London
	WC2H 9JQ
	United Kingdom

COMPANY NUMBER

13051945 (England)

ACCOUNTANT	Shaw Gibbs Limited
	Wey Court West
	Union Road
	Farnham
	Surrey
	GU9 7PT

	Note	2025		2024
		£		£
Fixed assets
Tangible assets	3	7,608		5,786
		7,608		5,786
Current assets
Debtors	4	646		1,909
Cash at bank and in hand	5	121,046		33,339
		121,692		35,248
Creditors: amounts falling due within one year	6	( 63,649)		( 30,441)
Net current assets		58,043		4,807
Total assets less current liabilities		65,651		10,593
Net assets		65,651		10,593
Capital and reserves
Called-up share capital	7	100		100
Profit and loss account		65,551		10,493
Total shareholders' funds		65,651		10,593

For the financial year ending 30 November 2025 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 financial year in accordance with section 476;
• The director acknowledges their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements; and
• These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime and a copy of the Statement of Comprehensive Income has not been delivered.

The financial statements of Ask Initiative Ltd (registered number: 13051945) were approved and authorised for issue by the Director on 17 August 2026. They were signed on its behalf by:

Dr A Kalsi Director

1. Accounting policies

The principal accounting policies are summarised below. They have all been applied consistently throughout the financial year and to the preceding financial year, unless otherwise stated.

General information and basis of accounting

Ask Initiative Ltd (the Company) is a private company, limited by shares, incorporated in the United Kingdom under the Companies Act 2006 and is registered in England. The address of the Company's registered office is 71-75 Shelton Street, Covent Garden, London, WC2H 9JQ, United Kingdom.

The financial statements have been prepared under the historical cost convention, unless otherwise specified, and in accordance with Section 1A of Financial Reporting Standard 102 (FRS 102) ‘The Financial Reporting Standard applicable in the UK and Republic of Ireland’ issued by the Financial Reporting Council and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime.

The financial statements are presented in pounds sterling which is the functional currency of the Company and rounded to the nearest £.

Turnover

Turnover is recognised at the fair value of the consideration received or receivable for goods and services provided in the normal course of business, and is shown net of VAT and other sales related taxes. The fair value of consideration takes into account trade discounts, settlement discounts and volume rebates.

Turnover is recognised when the significant risks and rewards are considered to have been transferred to the customer.

Taxation

Current tax
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.

Tangible fixed assets

Tangible fixed assets are stated at cost or valuation, net of depreciation and any provision for impairment. Depreciation is provided on all tangible fixed assets, other than investment property and freehold land, at rates calculated to write off the cost or valuation, less estimated residual value, of each asset on a straight-line or reducing balance basis over its expected useful life, as follows:

Plant and machinery	3 years straight line
Computer equipment	4 years straight line
Other property, plant and equipment	3 years straight line

Depreciation methods, useful lives and residual values are reviewed at each balance sheet date. The selection of these residual values and estimated lives requires the exercise of judgement. The directors are required to assess whether there is an indication of impairment to the carrying value of assets. In making that assessment, judgements are made in estimating value in use. The directors consider that the individual carrying values of assets are supportable by their value in use.

The gain or loss arising on the disposal of an asset is determined as the difference between the sale proceeds and the carrying value of the asset, and is credited or charged to profit or loss.

Leases

The Company as lessee
Assets held under finance leases, hire purchase contracts and other similar arrangements, which confer rights and obligations similar to those attached to owned assets, are capitalised as tangible fixed assets at the fair value of the leased asset (or, if lower, the present value of the minimum lease payments as determined at the inception of the lease) and are depreciated over the shorter of the lease terms and their useful lives. The capital elements of future lease obligations are recorded as liabilities, while the interest elements are charged to the Statement of Comprehensive Income over the period of the leases to produce a constant periodic rate of interest on the remaining balance of the liability.

Rentals under operating leases are charged on a straight-line basis over the lease term, even if the payments are not made on such a basis. Benefits received and receivable as an incentive to sign an operating lease are similarly spread on a straight-line basis over the lease term.

Impairment of assets

Assets, other than those measured at fair value, are assessed for indicators of impairment at each Balance Sheet date. If there is objective evidence of impairment, an impairment loss is recognised in the Statement of Comprehensive Income as described below.

Trade and other debtors

Trade and other debtors are initially recognised at fair value and thereafter stated at amortised cost using the effective interest method less impairment losses for bad and doubtful debts, except where the effect of discounting would be immaterial. In such cases the receivables are stated at cost less impairment losses for bad and doubtful debts.

Cash and cash equivalents

Cash and cash equivalents are basic financial assets and include cash in hand, deposits held at call with banks, other short-term liquid investments with original maturities of three months or less, and bank overdrafts. Bank overdrafts are shown within borrowings in creditors: amounts falling due within one year.

Trade and other creditors

Trade and other creditors are initially recognised at fair value and thereafter stated at amortised cost using the effective interest rate method, unless the effect of discounting would be immaterial, in which case they are stated at cost.

Dividends

Equity dividends are recognised when they become legally payable. Interim equity dividends are recognised when paid. Final equity dividends are recognised when approved by the shareholders at an annual general meeting.

2. Employees

	2025		2024
	Number		Number
Monthly average number of persons employed by the Company during the year, including the director	2		1

3. Tangible assets

	Plant and machinery		Computer equipment		Other property, plant and equipment		Total
	£		£		£		£
Cost
At 01 December 2024	6,398		9,931		1,911		18,240
Additions	2,593		891		1,337		4,821
At 30 November 2025	8,991		10,822		3,248		23,061
Accumulated depreciation
At 01 December 2024	5,764		4,779		1,911		12,454
Charge for the financial year	705		1,947		347		2,999
At 30 November 2025	6,469		6,726		2,258		15,453
Net book value
At 30 November 2025	2,522		4,096		990		7,608
At 30 November 2024	634		5,152		0		5,786

4. Debtors

	2025		2024
	£		£
Prepayments	646		1,909

5. Cash and cash equivalents

	2025		2024
	£		£
Cash at bank and in hand	49,456		33,339
Short-term deposits	71,590		0
	121,046		33,339

6. Creditors: amounts falling due within one year

	2025		2024
	£		£
Amounts owed to director	1,478		1,579
Accruals	2,151		2,148
Taxation and social security	58,804		26,368
Obligations under finance leases and hire purchase contracts	216		0
Other creditors	1,000		346
	63,649		30,441

7. Called-up share capital

	2025		2024
	£		£
Allotted, called-up and fully-paid
50 A ordinary shares of £ 1.00 each (2024: 100 shares of £ 1.00 each)	50		100
50 B ordinary shares of £ 1.00 each (2024: nil shares)	50		0
	100		100

8. Financial commitments

Commitments

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

	2025		2024
	£		£
Within one year	0		9,332