Astfire Limited - Period Ending 2023-06-30
Astfire Limited - Period Ending 2023-06-30
Registration number:
Astfire Limited
for the Year Ended 30 June 2023
Astfire Limited
Contents
Company Information |
|
Balance Sheet |
|
Notes to the Unaudited Financial Statements |
|
Accountants' Report |
Astfire Limited
Company Information
Directors |
Mr Craig Lee English Mr David Ivall Mr Mark Davison Mr Shami Smith-Sandhu |
Registered office |
|
Accountants |
|
Astfire Limited
(Registration number: 13435025)
Balance Sheet as at 30 June 2023
Note |
2023 |
2022 |
|
Fixed assets |
|||
Investments |
|
|
|
Current assets |
|||
Debtors |
|
|
|
Creditors: Amounts falling due within one year |
( |
( |
|
Net current liabilities |
( |
( |
|
Net assets |
|
|
|
Capital and reserves |
|||
Called up share capital |
|
|
|
Share premium reserve |
|
- |
|
Retained earnings |
|
|
|
Shareholders' funds |
|
|
For the financial year ending 30 June 2023 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
Directors' responsibilities:
• |
|
• |
The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts. |
These financial statements have been prepared in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006.
These financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime. As permitted by section 444 (5A) of the Companies Act 2006, the directors have not delivered to the registrar a copy of the Profit and Loss Account.
Approved and authorised by the
......................................... |
Astfire Limited
Notes to the Unaudited Financial Statements for the Year Ended 30 June 2023
General information |
The company is a private company limited by share capital, incorporated in England & Wales.
Accounting policies |
Statement of compliance
These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A smaller entities - 'The Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland' and the Companies Act 2006 (as applicable to companies subject to the small companies' regime).
Basis of preparation
These financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.
Tax
The tax expense for the period comprises current and deferred tax. Tax is recognised in profit or loss, except that a change attributable to an item of income or expense recognised as other comprehensive income is also recognised directly in other comprehensive income.
The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or
substantively enacted by the reporting date in the countries where the company operates and generates taxable income.
Investments
Investments in equity shares which are publicly traded or where the fair value can be measured reliably are initially measured at fair value, with changes in fair value recognised in profit or loss. Investments in equity shares which are not publicly traded and where fair value cannot be measured reliably are measured at cost less impairment.
Interest income on debt securities, where applicable, is recognised in income using the effective interest method. Dividends on equity securities are recognised in income when receivable.
Trade debtors
Trade debtors are amounts due from customers for merchandise sold or services performed in the ordinary course of business.
Trade debtors are recognised initially at the transaction price. They are subsequently measured at amortised cost using the effective interest method, less provision for impairment. A provision for the impairment of trade debtors 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.
Astfire Limited
Notes to the Unaudited Financial Statements for the Year Ended 30 June 2023
Trade creditors
Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Accounts payable are classified as current liabilities if the company does not have an unconditional right, at the end of the reporting period, to defer settlement of the creditor for at least twelve months after the reporting date. If there is an unconditional right to defer settlement for at least twelve months after the reporting date, they are presented as non-current liabilities.
Trade creditors are recognised initially at the transaction price and subsequently measured at amortised cost using the effective interest method.
Financial instruments
Classification
arrangement, as either financial assets, financial liabilities or equity instruments. An equity instrument is any
contract that evidences a residual interest in the assets of the company after deducting all of its liabilities.
Employees and Directors |
The average number of persons employed by the company (including directors) during the year, was
Investments |
2023 |
2022 |
|
Investments in subsidiaries |
|
|
Subsidiaries |
£ |
Cost or valuation |
|
At 1 July 2022 |
|
Additions |
|
At 30 June 2023 |
|
Provision |
|
Carrying amount |
|
At 30 June 2023 |
|
At 30 June 2022 |
|
Details of undertakings
Details of the investments in which the company holds 20% or more of the nominal value of any class of share capital are as follows:
Astfire Limited
Notes to the Unaudited Financial Statements for the Year Ended 30 June 2023
Undertaking |
Registered office |
Holding |
Proportion of voting rights and shares held |
|
2023 |
2022 |
|||
Subsidiary undertakings |
||||
|
England |
|
|
|
Debtors |
Current |
2023 |
2022 |
Other debtors |
|
|
Creditors |
Creditors: amounts falling due within one year
2023 |
2022 |
|
Due within one year |
||
Other creditors |
|
|
Related party transactions |
Transactions with directors |
2023 |
At 1 July 2022 |
Advances to director |
Repayments by director |
At 30 June 2023 |
Mr Craig Lee English |
||||
Director's Loan |
|
- |
( |
- |
Mr David Ivall |
||||
Loan |
- |
|
- |
|
Mr Mark Davison |
||||
Loan |
- |
|
- |
|
Mr Shami Smith-Sandhu |
||||
Loan |
- |
|
- |
|
Astfire Limited
Notes to the Unaudited Financial Statements for the Year Ended 30 June 2023
2022 |
At 2 June 2021 |
Advances to director |
At 30 June 2022 |
Mr Craig Lee English |
|||
Director's Loan |
- |
|
|
Creditors include the following amounts which are owed to individuals who were directors of the company during the year:
Year ended 30 June 2023 |
2 June 2021 to 30 June 2022 |
|
Mr C English |
1,092 |
- |
1,092 |
- |
The maximum balance outstanding during the year amounted to £1,092.
The directors current accounts are repayable on demand.
Loans from related parties
2023 |
|
Included within other creditors is a loan from Semper Fire Engineering Ltd, a subsidiary of the company.
The balance outstanding at the year-end is £10,002 (2022: £9,287) and this amount is repayable on demand.
Included within other debtors is a balance of £4 (2022: £Nil) which is owed to Astfire Limited from shareholders in the year. The loan is repayable on demand.
Chartered Accountants' Report to the Board of Directors on the Preparation of the Unaudited Statutory Accounts of
Astfire Limited
for the Year Ended 30 June 2023
In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the accounts of Astfire Limited for the year ended 30 June 2023 as set out on pages 2 to 6 from the company's accounting records and from information and explanations you have given us.
As a practising member firm of ICAS, we are subject to its ethical and other professional requirements which are detailed at http://www.icas.com/accountspreparationguidance.
This report is made solely to the Board of Directors of Astfire Limited, as a body, in accordance with the terms of our engagement letter. Our work has been undertaken solely to prepare for your approval the accounts of Astfire Limited and state those matters that we have agreed to state to the Board of Directors of Astfire Limited, as a body, in this report in accordance with the requirements of ICAS as detailed at http://www.icas.com/accountspreparationguidance. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than Astfire Limited and its Board of Directors as a body for our work or for this report.
It is your duty to ensure that Astfire Limited has kept adequate accounting records and to prepare statutory accounts that give a true and fair view of the assets, liabilities, financial position and profit of Astfire Limited. You consider that Astfire Limited is exempt from the statutory audit requirement for the year.
We have not been instructed to carry out an audit or a review of the accounts of Astfire Limited. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory accounts.
......................................
Gateway Business Park
Beancross Road
Grangemouth
FK3 8WX