Aspects Services (UK) Limited - Accounts to registrar (filleted) - small 23.2.5

REGISTERED NUMBER: 05489459 (England and Wales)

ABRIDGED UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 JULY 2023

FOR

ASPECTS SERVICES (UK) LIMITED

Page

Company Information

1

Abridged Balance Sheet

2

Notes to the Financial Statements

4

DIRECTORS:

M Davis

A Milne

SECRETARY:

M Davis

REGISTERED OFFICE:

Highdown House

11 Highdown Road

Leamington Spa

Warwickshire

CV31 1XT

REGISTERED NUMBER:

05489459 (England and Wales)

BANKERS:

Lloyds Bank plc

14 Church Street

Rugby

Warwickshire

CV21 3PL

FIXED ASSETS

Tangible assets

4

130,928

64,380

CURRENT ASSETS

Debtors

339,267

228,166

Cash at bank

355,050

368,494

694,317

596,660

CREDITORS

Amounts falling due within one year

249,669

216,250

NET CURRENT ASSETS

444,648

380,410

TOTAL ASSETS LESS CURRENT LIABILITIES

575,576

444,790

CREDITORS

Amounts falling due after more than one year

(32,368

)

-

PROVISIONS FOR LIABILITIES

(22,117

)

(12,232

)

NET ASSETS

521,091

432,558

CAPITAL AND RESERVES

Called up share capital

100

100

Retained earnings

520,991

432,458

SHAREHOLDERS' FUNDS

521,091

432,558

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 July 2023.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 July 2023 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.

All the members have consented to the preparation of an abridged Balance Sheet for the year ended 31 July 2023 in accordance with Section 444(2A) of the Companies Act 2006.

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 22 February 2024 and were signed on its behalf by:

M Davis - Director

1.	STATUTORY INFORMATION

Aspects Services (UK) Limited is a private company, limited by shares, registered in England and Wales. The company's registered number and registered address can be found on the Company Information page. The company's place of business is Holly Farm Business Park, Honiley, Kenilworth, Warwickshire, CV8 1NP.

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.

The principal accounting policies adopted in the preparation of the financial statements are set out below.

Turnover

Turnover represents net invoiced sales of services, excluding value added tax.

Tangible fixed assets

Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life or, if held under a finance lease, over the lease term, whichever is the shorter.

Plant and machinery

-

25% on reducing balance

Fixtures & fittings

-

25% on reducing balance

Motor vehicles

-

25% on reducing balance

Computer equipment

-

25% 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.

Hire purchase and leasing commitments

Assets obtained under hire purchase contracts or finance leases are capitalised in the balance sheet. Those held under hire purchase contracts are depreciated over their estimated useful lives. Those held under finance leases are depreciated over their estimated useful lives or the lease term, whichever is the shorter.

The interest element of these obligations is charged to profit or loss over the relevant period. The capital element of the future payments is treated as a liability.

Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease.

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 12 (2022 - 11 ) .

4.	TANGIBLE FIXED ASSETS

Totals

£

COST

At 1 August 2022

114,386

Additions

99,658

Disposals

(15,743

)

At 31 July 2023

198,301

DEPRECIATION

At 1 August 2022

50,006

Charge for year

26,015

Eliminated on disposal

(8,648

)

At 31 July 2023

67,373

NET BOOK VALUE

At 31 July 2023

130,928

At 31 July 2022

64,380

Fixed assets, included in the above, which are held under hire purchase contracts are as follows:

Totals

£

COST

Additions

45,172

At 31 July 2023

45,172

DEPRECIATION

Charge for year

7,529

At 31 July 2023

7,529

NET BOOK VALUE

At 31 July 2023

37,643

5.	SECURED DEBTS

The following secured debts are included within creditors:

2023

2022

£

£

Hire purchase contracts

35,461

-

6.

PENSION

The outstanding liability for pensions at the year end was £5,491 (2022 - £4,080)