Assini Limited Filleted accounts for Companies House (small and micro)

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COMPANY REGISTRATION NUMBER: 07925197

Assini Limited

Filleted Unaudited Financial Statements

30 January 2023

Assini Limited

Financial Statements

Year ended 30 January 2023

Contents	Page

Statement of financial position	1

Notes to the financial statements	3

Assini Limited

Statement of Financial Position

30 January 2023

	2023	2022
Note	£	£

Fixed assets

Tangible assets	5	11,117	64,774

Current assets

Debtors	6	335,626	318,620
Cash at bank and in hand		1,036,477	138,241
		------------	---------
		1,372,103	456,861

Creditors: amounts falling due within one year	7	1,067,010	210,876
		------------	---------
Net current assets		305,093	245,985
		---------	---------
Total assets less current liabilities		316,210	310,759

Creditors: amounts falling due after more than one year	8	31,567	41,294

Provisions	4,713	8,256
	---------	---------
Net assets	279,930	261,209
	---------	---------

Capital and reserves

Called up share capital	100	100
Profit and loss account	279,830	261,109
	---------	---------
Shareholders funds	279,930	261,209
	---------	---------

These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with Section 1A of FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.

In accordance with section 444 of the Companies Act 2006, the statement of income and retained earnings has not been delivered.

For the year ending 30 January 2023 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Director's responsibilities:

- The members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476 ;

- The director acknowledges her responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements .

Assini Limited

Statement of Financial Position (continued)

30 January 2023

These financial statements were approved by the board of directors and authorised for issue on 31 October 2023 , and are signed on behalf of the board by:

Mr R M Lefever
Director

Company registration number: 07925197

Assini Limited

Notes to the Financial Statements

Year ended 30 January 2023

1. General information

The company is a private company limited by shares, registered in England and Wales. The address of the registered office is Camburgh House, 27 New Dover Road, Canterbury, Kent, CT1 3DN, United Kingdom.

2. Statement of compliance

These financial statements have been prepared in compliance with Section 1A of FRS 102, 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland'.

3. Accounting policies

Basis of preparation

The financial statements have been prepared on the historical cost basis, as modified by the revaluation of certain financial assets and liabilities and investment properties measured at fair value through profit or loss. The financial statements are prepared in sterling, which is the functional currency of the entity.

Judgements and key sources of estimation uncertainty

The preparation of the financial statements requires management to make judgements, estimates and assumptions that affect the amounts reported. These estimates and judgements are continually reviewed and are based on experience and other factors, including expectations of future events that are believed to be reasonable under the circumstances.

Revenue recognition

Turnover is measured at the fair value of the consideration received or receivable and represents amounts receivable for services rendered, stated net of discounts and of Value Added Tax.

Income tax

The taxation expense represents the aggregate amount of current and deferred tax recognised in the reporting period. Tax is recognised in profit or loss, except to the extent that it relates to items recognised in other comprehensive income or directly in equity. In this case, tax is recognised in other comprehensive income or directly in equity, respectively. Current tax is recognised on taxable profit for the current and past periods. Current tax is measured at the amounts of tax expected to pay or recover using the tax rates and laws that have been enacted or substantively enacted at the reporting date.

Deferred tax is recognised in respect of all timing differences at the reporting date. Unrelieved tax losses and other deferred tax assets are recognised to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date that are expected to apply to the reversal of the timing difference.

Tangible assets

Tangible assets are initially recorded at cost, and subsequently stated at cost less any accumulated depreciation and impairment losses. Any tangible assets carried at revalued amounts are recorded at the fair value at the date of revaluation less any subsequent accumulated depreciation and subsequent accumulated impairment losses.

Depreciation

Depreciation is calculated so as to write off the cost or valuation of an asset, less its residual value, over the useful economic life of that asset as follows:

Fixtures and fittings	-	25% straight line
Motor vehicles	-	25% reducing balance
Equipment	-	33% straight line

Impairment of fixed assets

A review for indicators of impairment is carried out at each reporting date, with the recoverable amount being estimated where such indicators exist. Where the carrying value exceeds the recoverable amount, the asset is impaired accordingly. Prior impairments are also reviewed for possible reversal at each reporting date.

Government grants

Government grants are recognised at the fair value of the asset received or receivable. Grants are not recognised until there is reasonable assurance that the company will comply with the conditions attaching to them and the grants will be received. Government grants are recognised using the accrual model and the performance model.

Provisions

Provisions are recognised when the entity has an obligation at the reporting date as a result of a past event, it is probable that the entity will be required to transfer economic benefits in settlement and the amount of the obligation can be estimated reliably. Provisions are recognised as a liability in the statement of financial position and the amount of the provision as an expense.

Financial instruments

Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. Debtors and creditors with no stated interest rate and receivable or payable within one year are recorded at transaction price. Any losses arising from impairment are recognised in the profit and loss account in other administrative expenses.

4. Employee numbers

The average number of persons employed by the company during the year amounted to 32 (2022: 30 ).

5. Tangible assets

	Fixtures and fittings	Motor vehicles	Equipment	Total
	£	£	£	£
Cost
At 31 January 2022	298,064	75,559	98,425	472,048
Additions	4,302	–	90	4,392
	---------	--------	--------	---------
At 30 January 2023	302,366	75,559	98,515	476,440
	---------	--------	--------	---------
Depreciation
At 31 January 2022	266,049	66,414	74,811	407,274
Charge for the year	32,321	2,286	23,442	58,049
	---------	--------	--------	---------
At 30 January 2023	298,370	68,700	98,253	465,323
	---------	--------	--------	---------
Carrying amount
At 30 January 2023	3,996	6,859	262	11,117
	---------	--------	--------	---------
At 30 January 2022	32,015	9,145	23,614	64,774
	---------	--------	--------	---------

6. Debtors

	2023	2022
	£	£
Trade debtors	200	200
Amounts owed by group undertakings	10,920	–
Other debtors	324,506	318,420
	---------	---------
	335,626	318,620
	---------	---------

7. Creditors: amounts falling due within one year

	2023	2022
	£	£
Bank loans and overdrafts	18,574	8,847
Trade creditors	13,399	31,285
Amounts owed to group undertakings	743,420	–
Corporation tax	210,402	101,675
Social security and other taxes	11,174	19,299
Other creditors	70,041	49,770
	------------	---------
	1,067,010	210,876
	------------	---------

8. Creditors: amounts falling due after more than one year

	2023	2022
	£	£
Bank loans and overdrafts	31,567	41,294
	--------	--------

9. Director's advances, credits and guarantees

The director owed the company £260,741 (2022: £254,655) at the year end. The director received advances of £983 (2022: £92,499) and made repayments of £nil (2022: £35,000). Interest of £6,379 (2022: £5,510) was charged on the overdrawn loan balance at a rate of 2.5%.

10. Related party transactions

At the year end the company was owed £10,920 (2022: £nil) by group companies. At the year end the company owed £743,420 (2022: £nil) to group companies.

11. Controlling party

The company is controlled by P.R.A.C. Ltd , a company incorporated in England and Wales. The address of the registered office is Camburgh House, 27 New Dover Road, Canterbury, Kent, CT1 3DN .