Assent Partners Limited - Accounts to registrar (filleted) - small 18.2

ASSENT PARTNERS LIMITED

Financial Statements

for the Year Ended 31 March 2019

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

3

Directors:

P A Ford

B G Dean

Registered office:

Abbey House

282 Farnborough Road

Farnborough

Hampshire

GU14 7NA

Registered number:

08632339 (England and Wales)

Accountants:

Haines Watts (City) LLP

New Derwent House

69-73 Theobalds Road

London

WC1X 8TA

Current assets

Debtors

3

-

2,182

Cash at bank

133

7,586

133

9,768

Creditors

Amounts falling due within one year

4

71,259

80,508

Net current liabilities

(71,126

)

(70,740

)

Total assets less current liabilities

(71,126

)

(70,740

)

Capital and reserves

Called up share capital

5

1

1

Retained earnings

6

(71,127

)

(70,741

)

Shareholders' funds

(71,126

)

(70,740

)

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 March 2019.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 March 2019 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 on 28 January 2020 and were signed on its behalf by:

P A Ford - Director

1.	Statutory information

Assent Partners Limited 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.

Significant judgements and estimates

Estimates and judgements are continually evaluated and are based on historical experience and other factors,

including expectations of future events that are believed to be reasonable under the circumstances.

Critical judgements in applying the Company's accounting policies

(i) Assessing indicators and impairment

In assessing whether there have been any indicators or impairment of assets, the directors have considered both

external and internal sources of information such as market conditions, counterparty credit ratings and

experience or recoverability. There have been no indicators or impairments identified during the current financial

year.

Key sources of estimation uncertainty

The Company makes estimates and assumptions concerning the future. The resulting accounting estimates will,

by definition, seldom equal the related actual results. The estimates and assumptions that have a significant risk

of causing material adjustment to the carrying amounts of assets and liabilities with the next financial year are

addressed below.

(i) Recoverability of receivables

The Company establishes a provision for receivables that are estimated not to be recoverable. When assessing

recoverability the directors consider factors such as the aging of the receivables, past experience and

recoverability, and the credit profile of individual or groups of customers.

Turnover

Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates,

value added tax and other sales taxes.

Turnover represents amounts receivable for services provided in the year and is stated net of VAT.

Financial instruments

Financial assets - classified as basic financial instruments

(i) Cash and cash equivalents

Cash and cash equivalents include cash in hand, deposits held with banks, and other short-term highly liquid

investments with original maturities of three months or less.

(ii) Trade and other receivables

Trade and other receivables are initially recognised at the transaction price, including any transaction costs, and

subsequently measured at amortised cost including the effective interest method, less any provision for

impairment. Amounts that are receivable within one year are measured at the undiscounted amount of the cash

expected to be received, net of any impairment.

At the end of each reporting period, the Company assesses whether there is objective evidence that a receivable

amount may be impaired. A provision for impairment is established when there is objective evidence that the

Company will not be able to collect all amounts due according to the original terms of the receivables. The

amount of the provision is the difference between the asset's carrying amount and the present value of the

estimated future cash flows, discounted at the effective interest rate. The amount of the provision is recognised

immediately in profit or loss.

(iii) Trade and other payables and loans and borrowings

Trade and other payables and loans and borrowings are initially measured at the transaction price, including any

transaction price, including any transaction costs, and subsequently measured at amortised cost using the

effective interest method. Amounts that are payable within one year are measured at the discounted amount of

the cash expected to be paid.

(iv) Compound financial instruments

The derivative financial instrument is presented as a financial asset or financial liability depending on whether it

is in favourable or unfavourable position for the Company at the reporting date.

(v) Offsetting

Financial assets and liabilities are offset and the net amounts presented in the financial statements when there is a

legally enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to

realise the asset and settle the liability simultaneously.

Going concern

These financial statements have been prepared on a going concern basis.

The current economic conditions present increased risks for all businesses. In response to such conditions, the

directors have carefully considered these risks including an assessment on uncertainty on future trading

projection for a period of at least 12 months from the date of signing the financial statements, and the extent to

which they might affect the preparation of the financial statements on a going concern basis.

Based on assessment, the directors consider that the Company maintains an appropriate level of liquidity,

sufficient to meet the demands of the business including any capital and servicing obligations and external debt

liabilities.

In addition, the Company's assets are assessed for recoverability on a regular basis, and the directors consider

that the Company is not exposed to losses on these assets which would affect their decision to adopt the going

concern basis.

The directors have a reasonable expectation that the Company has adequate resources to continue in operational

existence for the foreseeable future and that there are no material uncertainties that lead to significant doubts

upon the Company's ability to continue as a going concern. Thus the directors have continued to adopt the

going concern basis of accounting in preparing these financial statements.

3.

Debtors: amounts falling due within one year

2019

2018

£

£

Tax

-

2,182

4.

Creditors: amounts falling due within one year

2019

2018

£

£

Amounts owed to group undertakings

71,246

77,977

Tax

13

2,195

VAT

-

336

71,259

80,508

5.	Called up share capital

Allotted, issued and fully paid:

Number:

Class:

Nominal

2019

2018

value:

£

£

1

Ordinary share

£1

1

1

6.

Reserves

Retained

earnings

£

At 1 April 2018

(70,741

)

Deficit for the year

(386

)

At 31 March 2019

(71,127

)

7.	Related party disclosures

The company has taken advantage of exemption, under the terms of Financial Reporting Standard 102 'The

Financial Reporting Standard applicable in the UK and Republic of Ireland', not to disclose related party

transactions with wholly owned subsidiaries within the group.