Aspire LPP Limited - Accounts to registrar (filleted) - small 22.3

REGISTERED NUMBER: 12186152 (England and Wales)

UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MARCH 2022

FOR

ASPIRE LPP LIMITED

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

4

DIRECTORS:

Mr M T Lucas

Mr D J Ritchie

REGISTERED OFFICE:

Castle Court

41 London Road

Reigate

Surrey

RH2 9RJ

REGISTERED NUMBER:

12186152 (England and Wales)

ACCOUNTANTS:

Acuity Professional Partnership LLP

Unit 2.02

High Weald House

Glovers End

Bexhill

East Sussex

TN39 5ES

FIXED ASSETS

Property, plant and equipment

4

4,545

2,939

CURRENT ASSETS

Inventories

5

885,116

697,722

Debtors

6

2,759,536

866,875

Cash at bank

2,019,063

19,299

5,663,715

1,583,896

CREDITORS

Amounts falling due within one year

7

1,224,330

562,731

NET CURRENT ASSETS

4,439,385

1,021,165

TOTAL ASSETS LESS CURRENT LIABILITIES

4,443,930

1,024,104

CREDITORS

Amounts falling due after more than one year

8

1,432,387

1,446,667

NET ASSETS/(LIABILITIES)

3,011,543

(422,563

)

CAPITAL AND RESERVES

Called up share capital

10

800

100

Retained earnings

3,010,743

(422,663

)

SHAREHOLDERS' FUNDS

3,011,543

(422,563

)

The Company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 March 2022.

The members have not required the Company to obtain an audit of its financial statements for the year ended 31 March 2022 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 Statement of Income and Retained Earnings has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 22 December 2022 and were signed on its behalf by:

Mr M T Lucas - Director

1.	STATUTORY INFORMATION

Aspire LPP 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.

TURNOVER

Revenue is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

TANGIBLE FIXED ASSETS

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

Computer equipment

-

Straight line over 3 years

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 inventories to their present location and condition.

TAXATION

Taxation for the year comprises current and deferred tax. Tax is recognised in the Statement of Income and Retained Earnings, 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.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 4 (2021 - 4 ) .

4.	PROPERTY, PLANT AND EQUIPMENT

Computer

equipment

£

Cost

At 1 April 2021

4,547

Additions

3,891

At 31 March 2022

8,438

Depreciation

At 1 April 2021

1,608

Charge for year

2,285

At 31 March 2022

3,893

Net book value

At 31 March 2022

4,545

At 31 March 2021

2,939

5.	INVENTORIES

2022

2021

£

£

Work-in-progress

885,116

697,722

6.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2022

2021

£

£

Trade debtors

29,673

26,000

Amounts owed by group undertakings

90

616,169

Other debtors

2,729,773

224,706

2,759,536

866,875

7.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2022

2021

£

£

Bank loans and overdrafts (see note 9)

9,707

3,333

Trade creditors

390,369

54,413

Taxation and social security

822,978

4,422

Accruals and deferred income

1,276

500,563

1,224,330

562,731

8.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

2022

2021

£

£

Bank loans (see note 9)

32,387

46,667

Other creditors

1,400,000

1,400,000

1,432,387

1,446,667

9.

LOANS

An analysis of the maturity of loans is given below:

2022

2021

£

£

Amounts falling due within one year or on demand:

Bank loans

9,707

3,333

Amounts falling due between one and two years:

Bank loans - 1-2 years

9,952

10,000

Amounts falling due between two and five years:

Bank loans - 2-5 years

22,435

36,667

10.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

2022

2021

value:

£

£

6,350

Ordinary A

0.04

254

100

3,150

Ordinary B

0.04

126

-

10,500

Ordinary C

0.04

420

-

800

100