Aspinall Verdi Limited - Accounts to registrar (filleted) - small 18.2

REGISTERED NUMBER: 06908655 (England and Wales)

ASPINALL VERDI LIMITED

FINANCIAL STATEMENTS

FOR THE YEAR ENDED 30 SEPTEMBER 2021

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

4

DIRECTORS:

B E Aspinall

A P S Verdi

P S Dosanjh

REGISTERED OFFICE:

Second floor

Matthew Murray House

97 Water Lane

Leeds

LS11 5QN

REGISTERED NUMBER:

06908655 (England and Wales)

ACCOUNTANTS:

BPR Heaton

Chartered Accountants

27a Lidget Hill

Pudsey

Leeds

LS28 7LG

BANKERS:

National Westminster Bank

8 Park Row

Leeds

West Yorkshire

LS1 5HD

FIXED ASSETS

Tangible assets

4

17,343

12,401

CURRENT ASSETS

Debtors

5

478,039

370,967

Cash at bank

889,963

866,438

1,368,002

1,237,405

CREDITORS

Amounts falling due within one year

6

476,440

460,710

NET CURRENT ASSETS

891,562

776,695

TOTAL ASSETS LESS CURRENT LIABILITIES

908,905

789,096

CREDITORS

Amounts falling due after more than one year

7

(88,750

)

(228,667

)

PROVISIONS FOR LIABILITIES

(4,336

)

(2,071

)

NET ASSETS

815,819

558,358

CAPITAL AND RESERVES

Called up share capital

20,000

20,000

Retained earnings

795,819

538,358

SHAREHOLDERS' FUNDS

815,819

558,358

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30 September 2021.

The members have not required the company to obtain an audit of its financial statements for the year ended 30 September 2021 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 and authorised for issue on 17 December 2021 and were signed on its behalf by:

B E Aspinall - Director

1.	STATUTORY INFORMATION

Aspinall Verdi 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.

The presentation currency of the financial statements is the Pound Sterling (£).

The information in the accounts is rounded to the nearest pound.

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 preparation of financial statements in compliance with FRS 102 Section 1A requires the use of certain critical accounting estimates. It also requires management to exercise judgement in applying the company's accounting policies.

In preparing these financial statements, the director has had to make the following judgements and estimates:

Tangible fixed assets

Tangible fixed assets are depreciated over their useful lives which are assessed annually by the directors.

In re-assessing asset lives, factors such as technological innovation, product life cycles and maintenance programmes are taken into account

Bad debt provision

The value of closing trade debtors as at the balance sheet date is subject to a bad debt provision which are assessed annually by the directors.

Turnover

Revenue represents the fair value of consideration receivable in respect of professional services provided during the year where the right to consideration has been obtained through performance.

Invoices raised but unpaid at the balance sheet date are shown in 'Trade debtors'. Provision has been made for amounts considered to be irrecoverable.

Work on hand at the balance sheet date is included in 'Accrued income' at selling price, being the value of the right to consideration in respect of that work based on its stage of completion.

Tangible fixed assets

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

Fixtures and fittings

-

25% on cost

Computer equipment

-

33% on cost

Government grants

The company received government grants in respect of coronavirus support. These grants are recognised at the fair value of the asset received or receivable when there is reasonable assurance that the company will comply with conditions attaching to them and the grants will be received using the performance model.

Financial instruments

Financial assets and financial liabilities are recognised when the company becomes a party to the contractual provisions of the instrument.

Financial assets and liabilities are initially measured at the transaction price, except for those financial assets classified as at fair value through profit or loss.

Basic financial instruments

Basic financial instruments are those with relatively straight forward terms and would normally include cash, bank balances, trade debtors, trade creditors and uncomplicated bank loans.

Where the arrangement does not constitute a financing transaction, e.g trade debtors on normal commercial terms, the debtor will be valued initially at transaction price (i.e. cost) and subsequently at transaction price less impairment (if any) due to concerns over recoverability.

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.

Pension costs and other post-retirement benefits

The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 20 (2020 - 18 ) .

4.	TANGIBLE FIXED ASSETS

Plant and

machinery

etc

£

COST

At 1 October 2020

33,136

Additions

13,128

At 30 September 2021

46,264

DEPRECIATION

At 1 October 2020

20,735

Charge for year

8,186

At 30 September 2021

28,921

NET BOOK VALUE

At 30 September 2021

17,343

At 30 September 2020

12,401

5.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2021

2020

£

£

Trade debtors

371,725

300,258

Other debtors

106,314

70,709

478,039

370,967

6.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2021

2020

£

£

Bank loans and overdrafts

49,000

16,333

Trade creditors

112,048

81,605

Taxation and social security

211,859

246,028

Other creditors

103,533

116,744

476,440

460,710

7.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

2021

2020

£

£

Bank loans

88,750

228,667

Amounts falling due in more than five years:

Repayable by instalments

Bank loans more 5 yr by instal

-

62,116

8.	LEASING AGREEMENTS

Minimum lease payments under non-cancellable operating leases fall due as follows:

2021

2020

£

£

Within one year

68,969

46,864

Between one and five years

30,240

8,974

99,209

55,838