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

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COMPANY REGISTRATION NUMBER: 03739023

Assetsio Limited

Filleted Unaudited Financial Statements

31 December 2022

Assetsio Limited

Statement of Financial Position

31 December 2022

	2022	2021
Note	£	£

Fixed assets

Investments	6	–	450,000

Current assets

Cash at bank and in hand	603,043	43

Creditors: amounts falling due within one year	7	520,940	983,985
		---------	---------
Net current assets/(liabilities)		82,103	( 983,942)
		--------	---------
Total assets less current liabilities		82,103	( 533,942)
		--------	---------
Net assets/(liabilities)		82,103	( 533,942)
		--------	---------

Capital and reserves

Called up share capital	97,000	158,000
Share premium account	359,997	474,000
Profit and loss account	( 374,894)	( 1,165,942)
	---------	------------
Shareholders funds/(deficit)	82,103	( 533,942)
	---------	------------

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 comprehensive income has not been delivered.

For the year ending 31 December 2022 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Directors' 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 directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements .

Assetsio Limited

Statement of Financial Position (continued)

31 December 2022

These financial statements were approved by the board of directors and authorised for issue on 20 December 2023 , and are signed on behalf of the board by:

Mr V Latincic

Director

Company registration number: 03739023

Assetsio Limited

Notes to the Financial Statements

Year ended 31 December 2022

1. General information

The company is a private company limited by shares, registered in England and Wales. The address of the registered office is 1 Battersea Square, London, SW11 3RZ.

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.

Going concern

The directors have considered the basis of the preparation of the accounts and are satisfied that the accounts should be prepared on a going concern basis.

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. Accounting estimates and assumptions are made concerning the future and, by their nature, will rarely equal the related actual outcome. 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.

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:

	Equipment	-	25% straight line

Investments

Fixed asset investments are initially recorded at cost, and subsequently stated at cost less any accumulated impairment losses.

Listed investments are measured at fair value with changes in fair value being recognised in profit or loss.

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.

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. Loans and borrowings are initially recognised at the transaction price including transaction costs. Subsequently, they are measured at amortised cost using the effective interest rate method, less impairment. If an arrangement constitutes a finance transaction it is measured at present value.

Defined contribution plans

Contributions to defined contribution plans are recognised as an expense in the period in which the related service is provided. Prepaid contributions are recognised as an asset to the extent that the prepayment will lead to a reduction in future payments or a cash refund. When contributions are not expected to be settled wholly within 12 months of the end of the reporting date in which the employees render the related service, the liability is measured on a discounted present value basis. The unwinding of the discount is recognised as a finance cost in profit or loss in the period in which it arises.

4. Employee numbers

The average number of persons employed by the company during the year amounted to 3 (2021: 3 ).

5. Tangible assets

	Equipment
	£
Cost
At 1 January 2022	6,904
Disposals	( 6,904)
	-------
At 31 December 2022	–
	-------
Depreciation
At 1 January 2022	6,904
Disposals	( 6,904)
	-------
At 31 December 2022	–
	-------
Carrying amount
At 31 December 2022	–
	-------
At 31 December 2021	–
	-------

6. Investments

	Shares in group undertakings
	£
Cost
At 1 January 2022	450,000
Disposals	( 450,000)
	---------
At 31 December 2022	–
	---------
Impairment
At 1 January 2022 and 31 December 2022	–
	---------

Carrying amount
At 31 December 2022	–
	---------
At 31 December 2021	450,000
	---------

7. Creditors: amounts falling due within one year

	2022	2021
	£	£
Trade creditors	12,283	12,283
Amounts owed to group undertakings and undertakings in which the company has a participating interest	–	363,987
Social security and other taxes	1,200	1,200
Other creditors	507,457	606,515
	---------	---------
	520,940	983,985
	---------	---------

8. Related party transactions

At the period end, the company owed £nil (2021: £363,987) to a group company. At the period end, the company owed £nil (2021: £102,558) to the directors.