TEST ASSOCIATES LIMITED


Director	FARRELL, Ashley Grant


Registered Address	Freedom Works Barts House
	Black Lion Street
	Brighton
	BN1 1ND


Registered Number	09679598 (England and Wales)

Notes to the Financial Statements
for the year ended 31 December 2025

1.	Accounting policies

	Statutory information
	The company is a private company limited by shares and registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.

	Statement of compliance
	The financial statements have been prepared in accordance with the Companies Act 2006 and FRS 102 The Financial Reporting Standard applicable in the UK and Republic of Ireland including Section 1A Small Entities.

	Basis of preparation
	The financial statements have been prepared under the historical cost convention and in accordance with Financial Reporting Standard 102 section 1A Small Entities "The Financial Reporting Standard applicable in the UK and Republic of Ireland" and the Companies Act 2006.

	Functional and presentation currency
	The financial statements are presented in sterling and this is the functional currency of the company.

	Going concern
	After reviewing the company's forecasts and projections, the directors have a reasonable expectation that the company has adequate resources to continue in operational existence for the foreseeable future. The company therefore continues to adopt the going concern basis of accounting in preparing its financial statements.

	Turnover policy
	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.

	Revenue from sale of goods
	Revenue from the sale of goods is recognised when the company has transferred to the buyer the significant risks and rewards of ownership of the goods, usually when goods are delivered and legal title has passed. Providing the amount of revenue can be measured reliably, it is probable that the economic benefits associated with the transaction will flow to the company and the costs incurred or to be incurred in respect of the transition can be measured reliably.

Revenue from sale of goods

Revenue from the sale of goods is recognised when the company has transferred to the buyer the significant risks and rewards of ownership of the goods, usually when goods are delivered and legal title has passed. Providing the amount of revenue can be measured reliably, it is probable that the economic benefits associated with the transaction will flow to the company and the costs incurred or to be incurred in respect of the transition can be measured reliably.

	Revenue from rendering of services
	Revenue from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs. Turnover is only recognised to the extent of recoverable expenses when the outcome of a contract cannot be estimated reliably.

	Defined contribution pension plan
	The company operates a defined contribution pension plan for the benefit of its employees. Contributions are recognised as expenses as they become payable. Differences between contributions payable in the year and those actually paid are recognised as either prepayments or accruals in the balance sheet. The assets of the defined contribution pension scheme are held separately from those of the company in an independently administered fund.

Defined contribution pension plan

The company operates a defined contribution pension plan for the benefit of its employees. Contributions are recognised as expenses as they become payable. Differences between contributions payable in the year and those actually paid are recognised as either prepayments or accruals in the balance sheet. The assets of the defined contribution pension scheme are held separately from those of the company in an independently administered fund.

	Foreign currency translation
	Monetary assets and liabilities in foreign currencies are translated into sterling at the rates of exchange ruling at the balance sheet date. Transactions in foreign currencies are translated into sterling at the rate ruling on the date of the transaction. Exchange differences are taken into account in arriving at the operating profit.

	Current taxation
	The tax currently payable is based on taxable profit for the year. Taxable profit differs from profit as reported in the statement of comprehensive income because of items of income or expense that are taxable or deductible in other years and items that are never taxable or deductible. The company's liability for current tax is calculated using tax rates that have been enacted or substantively enacted by the end of the reporting period.

Current taxation

The tax currently payable is based on taxable profit for the year. Taxable profit differs from profit as reported in the statement of comprehensive income because of items of income or expense that are taxable or deductible in other years and items that are never taxable or deductible. The company's liability for current tax is calculated using tax rates that have been enacted or substantively enacted by the end of the reporting period.

	Deferred tax
	Deferred tax is recognised on timing differences between the carrying amounts of assets and liabilities in the financial statements and the corresponding tax bases used in the computation of taxable profit. Deferred tax liabilities are generally recognised for all taxable timing differences. Deferred tax assets are generally recognised for all deductible temporary differences to the extent that it is probable that taxable profits will be available against which those deductible timing differences can be utilised. The carrying amount of deferred tax assets is reviewed at the end of each reporting period and reduced to the extent that it is no longer probable that sufficient taxable profits will be available to allow all or part of the asset to be recovered. Deferred tax assets and liabilities are measured at the tax rates that are expected to apply in the period in which the liability is settled or the asset realised, based on tax rates (and tax laws) that have been enacted or substantively enacted by the end of the reporting period. Deferred tax liabilities are presented within provisions for liabilities and deferred tax assets within debtors. The measurement of deferred tax liabilities and assets reflect the tax consequences that would follow from the manner in which the Company expects, at the end of the reporting period, to recover or settle the carrying amount of its assets and liabilities. Current and deferred tax are recognised in profit or loss for the period, except when they relate to items that are recognised in other comprehensive income or directly in equity, in which case current and deferred tax are recognised in other comprehensive income or directly in equity respectively.

Deferred tax

Deferred tax is recognised on timing differences between the carrying amounts of assets and liabilities in the financial statements and the corresponding tax bases used in the computation of taxable profit. Deferred tax liabilities are generally recognised for all taxable timing differences. Deferred tax assets are generally recognised for all deductible temporary differences to the extent that it is probable that taxable profits will be available against which those deductible timing differences can be utilised. The carrying amount of deferred tax assets is reviewed at the end of each reporting period and reduced to the extent that it is no longer probable that sufficient taxable profits will be available to allow all or part of the asset to be recovered.
 
Deferred tax assets and liabilities are measured at the tax rates that are expected to apply in the period in which the liability is settled or the asset realised, based on tax rates (and tax laws) that have been enacted or substantively enacted by the end of the reporting period. Deferred tax liabilities are presented within provisions for liabilities and deferred tax assets within debtors. The measurement of deferred tax liabilities and assets reflect the tax consequences that would follow from the manner in which the Company expects, at the end of the reporting period, to recover or settle the carrying amount of its assets and liabilities.
 
Current and deferred tax are recognised in profit or loss for the period, except when they relate to items that are recognised in other comprehensive income or directly in equity, in which case current and deferred tax are recognised in other comprehensive income or directly in equity respectively.

	Tangible fixed assets and depreciation
	Tangible fixed assets are measured at cost less accumulated depreciation and any accumulated impairment losses. Depreciation is provided at rates calculated to write off the cost of the fixed assets, less their estimated residual value, over their expected useful lives on the following bases:


		Straight line (years)
	Office Equipment	3

	Impairment of non-financial assets policy
	Assets which are not carried at fair value are reviewed for evidence of impairment at each reporting date. Where the asset is showing indicators of impairment, the recoverable amount of the asset, is estimated and then compared to the carrying value in the financial statements. Where the carrying amount is in excess of recoverable amount, an impairment loss is recognised in profit or loss.

2.	Average number of employees


		2025		2024
	Average number of employees during the year	8		0

3.	Tangible fixed assets

	Office Equipment	Total
	£	£
Cost or valuation
Additions	8,334	8,334
At 31 December 25	8,334	8,334
Depreciation and impairment
Charge for year	1,060	1,060
At 31 December 25	1,060	1,060
Net book value
At 31 December 25	7,274	7,274
At 31 December 24	-	-

4.	Debtors: amounts due within one year

	2025	2024
	£	£
Trade debtors / trade receivables	15,500	-
Other debtors	151,983	2
Prepayments and accrued income	3,271	-
Total	170,754	2

5.	Creditors: amounts due within one year

	2025	2024
	£	£
Trade creditors / trade payables	46,412	-
Bank borrowings and overdrafts	7,468	-
Taxation and social security	119,779	-
Other creditors	1,417	11,130
Accrued liabilities and deferred income	1,200	336
Total	176,276	11,466

6.	Provisions for liabilities

	2025	2024
	£	£
Net deferred tax liability (asset)	1,818	-
Total	1,818	-

7.	Directors advances, credits and guarantees

	Brought forward	Amount advanced	Amount repaid	Carried forward
	£	£	£	£
FARRELL, Ashley Grant	(20)	218,647	104,995	113,632
	(20)	218,647	104,995	113,632


	The director's loan has been charged interest at the official rate of interest which is 3.75%. The loan is unsecured and repayable on demand.

8.	Share capital
	Allotted, fully paid share capital of £2 (2024: £2).

9.	Events after reporting date
	Subsequent to the year end, Test Associates Limited provided a further loan of £34,032 to a company under common control. The loan was provided between January and June 2026 to enable the company to settle an outstanding PayPal loan. The company that received the loan was subject to liquidation proceedings at the reporting date. The further loan was provided after the reporting date and is not included in the financial statements for the year ended 31 December 2025. The Company does not expect to recover the £34,032 provided.

Events after reporting date

Subsequent to the year end, Test Associates Limited provided a further loan of £34,032 to a company under common control. The loan was provided between January and June 2026 to enable the company to settle an outstanding PayPal loan.

The company that received the loan was subject to liquidation proceedings at the reporting date. The further loan was provided after the reporting date and is not included in the financial statements for the year ended 31 December 2025. The Company does not expect to recover the £34,032 provided.

10.	Related party transactions
	During the year, Test Associates Limited provided a loan to a company under common control. At 31 December 2025, £64,431 was outstanding in respect of this loan. The company that received the loan entered liquidation on 20 October 2025 and, having considered the expected outcome of the liquidation, Test Associates Limited has recognised an impairment of £64,431 against the outstanding balance which has been written off to the profit and loss as at 31 December 2025.

10.

Related party transactions

During the year, Test Associates Limited provided a loan to a company under common control. At 31 December 2025, £64,431 was outstanding in respect of this loan.

The company that received the loan entered liquidation on 20 October 2025 and, having considered the expected outcome of the liquidation, Test Associates Limited has recognised an impairment of £64,431 against the outstanding balance which has been written off to the profit and loss as at 31 December 2025.

	Notes	2025		2024
		£	£	£	£
Fixed assets
Tangible assets	3		7,274		-
			7,274		-
Current assets
Debtors	4	170,754		2
Cash at bank and on hand		1		89
		170,755		91
Creditors amounts falling due within one year	5	(176,276)		(11,466)
Net current assets (liabilities)			(5,521)		(11,375)
Total assets less current liabilities			1,753		(11,375)
Provisions for liabilities	6		(1,818)		-
Net assets			(65)		(11,375)
Capital and reserves
Called up share capital			2		2
Profit and loss account			(67)		(11,377)
Shareholders' funds			(65)		(11,375)