Astonishing Designs Ltd - Accounts to registrar (filleted) - small 18.2

REGISTERED NUMBER: 03672622 (England and Wales)

Financial Statements

for the Year Ended 30 November 2020

for

Astonishing Designs Ltd

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

4

Report of the Accountants

7

DIRECTOR:

K P Mulheir

SECRETARY:

REGISTERED OFFICE:

12 Crosby Street

Cudworth

Barnsley

South Yorkshire

S72 8AD

REGISTERED NUMBER:

03672622 (England and Wales)

ACCOUNTANTS:

Angus Nordon & Co

194 Pontefract Road

Cudworth

Barnsley

South Yorkshire

S72 8AF

FIXED ASSETS

Tangible assets

4

114

135

CURRENT ASSETS

Debtors

5

1,200

-

Cash at bank

1,526

-

2,726

-

CREDITORS

Amounts falling due within one year

6

23,406

9,325

NET CURRENT LIABILITIES

(20,680

)

(9,325

)

TOTAL ASSETS LESS CURRENT LIABILITIES

(20,566

)

(9,190

)

PROVISIONS FOR LIABILITIES

7

23

26

NET LIABILITIES

(20,589

)

(9,216

)

CAPITAL AND RESERVES

Called up share capital

8

1

1

Retained earnings

9

(20,590

)

(9,217

)

SHAREHOLDERS' FUNDS

(20,589

)

(9,216

)

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30 November 2020.

The members have not required the company to obtain an audit of its financial statements for the year ended 30 November 2020 in accordance with Section 476 of the Companies Act 2006.

The director acknowledges his 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 director and authorised for issue on 16 August 2021 and were signed by:

K P Mulheir - Director

1.	STATUTORY INFORMATION

Astonishing Designs Ltd 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

The principal accounting policies and significant judgements and estimates applied in the preparation of these financial statements are set out below. These policies, judgements and estimates have been consistently applied to all years presented unless otherwise stated.

Turnover

Turnover 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.

Plant and machinery etc

-

15% on reducing balance

Taxation

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.

Deferred tax

Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date.

Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from those in which they are recognised in financial statements. Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the year end and that are expected to apply to the reversal of the timing difference.

Unrelieved tax losses and other deferred tax assets are recognised only to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 1 (2019 - 1 ) .

4.	TANGIBLE FIXED ASSETS

Plant and

machinery

etc

£

COST

At 1 December 2019

and 30 November 2020

2,502

DEPRECIATION

At 1 December 2019

2,367

Charge for year

21

At 30 November 2020

2,388

NET BOOK VALUE

At 30 November 2020

114

At 30 November 2019

135

5.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2020

2019

£

£

Other debtors

1,200

-

6.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2020

2019

£

£

Bank loans and overdrafts

-

1,972

Other loans

15,000

-

Trade creditors

1

-

Tax

1,793

3,784

Social security and other taxes

1,762

696

VAT

3,489

203

Director's current account

761

1,970

Accrued expenses

600

700

23,406

9,325

7.	PROVISIONS FOR LIABILITIES

2020

2019

£

£

Deferred tax

23

26

Deferred

tax

£

Balance at 1 December 2019

26

Movement arising during year

(3

)

Balance at 30 November 2020

23

8.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

2020

2019

value:

£

£

1

Ordinary

£1

1

1

9.

RESERVES

Retained

earnings

£

At 1 December 2019

(9,217

)

Profit for the year

7,627

Dividends

(19,000

)

At 30 November 2020

(20,590

)

10.	DIRECTOR'S ADVANCES, CREDITS AND GUARANTEES

The following advances and credits to a director subsisted during the years ended 30 November 2020 and 30 November 2019:

2020

2019

£

£

K P Mulheir

Balance outstanding at start of year

(1,970

)

(3,568

)

Amounts advanced

5,270

1,890

Amounts repaid

(4,061

)

(292

)

Amounts written off

-

-

Amounts waived

-

-

Balance outstanding at end of year

(761

)

(1,970

)

11.	RELATED PARTY DISCLOSURES

During the year, a salary of £16,200 (2019 £15,700) was paid to the director, together with a dividend of £19,000 (2019 £17,000).

The following reproduces the text of the report prepared for the director in respect of the company's annual unaudited financial statements. In accordance with the Companies Act 2006, the company is only required to file a Balance Sheet. Readers are cautioned that the Income Statement and certain other primary statements and the Report of the Director are not required to be filed with the Registrar of Companies.

As described on the Balance Sheet you are responsible for the preparation of the financial statements for the year ended 30 November 2020 set out on pages three to eight and you consider that the company is exempt from an audit.

In accordance with your instructions, we have compiled these unaudited financial statements in order to assist you to fulfil your statutory responsibilities, from the accounting records and information and explanations supplied to us.

Angus Nordon & Co

194 Pontefract Road

Cudworth

Barnsley

South Yorkshire

S72 8AF

16 August 2021