ASE Investments Limited Filleted accounts for Companies House (small and micro)

COMPANY REGISTRATION NUMBER: 04555373

ASE INVESTMENTS LIMITED

FILLETED UNAUDITED FINANCIAL STATEMENTS

FOR THE PERIOD ENDED

25 October 2024

ASE INVESTMENTS LIMITED

FINANCIAL STATEMENTS

PERIOD ENDED 25 OCTOBER 2024

CONTENTS	PAGES

Statement of financial position	1 to 2

Notes to the financial statements	3 to 5

ASE INVESTMENTS LIMITED

STATEMENT OF FINANCIAL POSITION

25 October 2024

	2024		2023
Note	£	£	£

CURRENT ASSETS

Debtors	7	180,106	171,794
Cash at bank and in hand		287,654	196,639
		---------	---------
		467,760	368,433

CREDITORS: amounts falling due within one year	8	( 461,377)		( 337,826)
		---------		---------
NET CURRENT ASSETS			6,383	30,607
			-------	--------
TOTAL ASSETS LESS CURRENT LIABILITIES			6,383	30,607

CREDITORS: amounts falling due after more than one year	9	( 5,922)	( 15,944)
		-------	--------
NET ASSETS		461	14,663
		-------	--------

CAPITAL AND RESERVES

Called up share capital	100	100
Profit and loss account	361	14,563
	----	--------
SHAREHOLDERS FUNDS	461	14,663
	----	--------

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.

For the period ending 25 October 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Directors' responsibilities:

- The members have not required the company to obtain an audit of its financial statements for the period in question in accordance with section 476 ;

- The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements .

ASE INVESTMENTS LIMITED

STATEMENT OF FINANCIAL POSITION (continued)

25 October 2024

These financial statements were approved by the board of directors and authorised for issue on 13 November 2025 , and are signed on behalf of the board by:

P Colebrook

Director

Company registration number: 04555373

ASE INVESTMENTS LIMITED

NOTES TO THE FINANCIAL STATEMENTS

PERIOD ENDED 25 OCTOBER 2024

1. GENERAL INFORMATION

The company is a private company limited by shares, registered in England and Wales. The address of the registered office is 26 West Street, West Butterwick, Scunthorpe, DN17 3LA.

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.

Revenue recognition

Turnover comprises revenue recognised by the company in respect of services supplied.

Tangible assets

Tangible assets are initially recorded at cost, and subsequently stated at cost less any accumulated depreciation to date.

Depreciation

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

Fixtures and fittings	-	25% straight line
Computer equipment	-	33% straight line

Financial instruments

Basic financial instruments are recognised at amortised cost, except for investments in non-convertible preference and non-puttable ordinary shares which are measured at fair value, with changes recognised in profit and loss. Derivative financial instruments are initially recorded at transaction price and thereafter at fair value with changes recognised in profit and loss. The company holds the following financial assets and liabilities: Cash, Short-term trade and other debtors, and creditors. Cash in the balance sheet comprises cash at banks and in hand and short term deposits with an original maturity date of three months or less. Debtors and creditors with no stated interest rate and receivable or payable within one year are recorded at transaction price. Any losses arising from impairment are recognised in the profit and loss account before operating profit.

Defined contribution plans

Contributions to defined contribution plans are recognised as an expense in the period in which the related service is provided.

4. EMPLOYEE NUMBERS

The average number of persons employed by the company during the period amounted to 5 (2023: 5 ).

5. TAX ON PROFIT

Major components of tax expense

		Period from
	Year to	29 Oct 22 to
	25 Oct 24	26 Oct 23
	£	£

Current tax:

UK current tax expense	98,633	92,022

Deferred tax:

Origination and reversal of timing differences	–	( 871)
	--------	--------
Tax on profit	98,633	91,151
	--------	--------

Reconciliation of tax expense

The tax assessed on the profit on ordinary activities for the period is higher than (2023: higher than) the standard rate of corporation tax in the UK of 25 % (2023: 22.46 %).

		Period from
	Year to	29 Oct 22 to
	25 Oct 24	26 Oct 23
	£	£
Profit on ordinary activities before taxation	394,431	405,003
	---------	---------
Profit on ordinary activities by rate of tax	98,608	90,970
Effect of expenses not deductible for tax purposes	25	22
Effect of capital allowances and depreciation	–	1,030
Deferred taxation	–	( 871)
	---------	---------
Tax on profit	98,633	91,151
	---------	---------

6. TANGIBLE ASSETS

	Fixtures and fittings	Computer equipment	Total
	£	£	£
Cost
At 27 October 2023 and 25 October 2024	38,515	2,127	40,642
	--------	-------	--------
Depreciation
At 27 October 2023 and 25 October 2024	38,515	2,127	40,642
	--------	-------	--------
Carrying amount
At 25 October 2024	–	–	–
	--------	-------	--------
At 26 October 2023	–	–	–
	--------	-------	--------

7. DEBTORS

	2024	2023
	£	£
Trade debtors	180,106	171,794
	---------	---------

8. CREDITORS: amounts falling due within one year

	2024	2023
	£	£
Bank loans and overdrafts	10,000	10,000
Corporation tax	194,070	133,016
Social security and other taxes	19,339	28,565
Other creditors	237,968	166,245
	---------	---------
	461,377	337,826
	---------	---------

9. CREDITORS: amounts falling due after more than one year

	2024	2023
	£	£
Bank loans and overdrafts	5,922	15,944
	-------	--------

10. DIRECTORS' ADVANCES, CREDITS AND GUARANTEES

During the year the company continued to benefit from loans provided by the directors. These loans are interest free and repayable on demand. At the balance sheet date the total amount owed from the company to the directors amounted to £229,946 (2023 - £159,849).