Asset Security Provision Ltd - Period Ending 2015-09-30

Registration number: 08679176

Asset Security Provision Ltd

Unaudited Abbreviated Accounts

for the Year Ended 30 September 2015
 

CRK Accounting Limited
12a Fleet Business Park
Sandy Lane
Church Crookham
Fleet
Hampshire
GU52 8BF

Asset Security Provision Ltd
Contents

Abbreviated Balance Sheet 1

Notes to the Abbreviated Accounts 2 to 3

Asset Security Provision Ltd
(Registration number: 08679176)
Abbreviated Balance Sheet at 30 September 2015

		Note			30 September 2015 £			30 September 2014 £
Fixed assets
Tangible fixed assets					14,090			1,701
Current assets
Stocks					15,000			-
Debtors					62,621			80,732
Cash at bank and in hand					24,239			81,498
					101,860			162,230
Creditors: Amounts falling due within one year					(185,457)			(162,176)
Net current (liabilities)/assets					(83,597)			54
Net (liabilities)/assets					(69,507)			1,755
Capital and reserves
Called up share capital		3			200			200
Profit and loss account					(69,707)			1,555
Shareholders' (deficit)/funds					(69,507)			1,755

For the year ending 30 September 2015 the company was entitled to exemption under section 477 of the Companies Act 2006 relating to small companies.

The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

These accounts have been prepared in accordance with the provisions applicable to companies subject to the small companies regime .

Approved by the Board on 29 June 2016 and signed on its behalf by:

.........................................
B Connolly
Director

The notes on pages 2 to 3 form an integral part of these financial statements.
Page 1

Asset Security Provision Ltd
Notes to the Abbreviated Accounts for the Year Ended 30 September 2015
......... continued

1	Accounting policies

Basis of preparation

The full financial statements, from which these abbreviated accounts have been extracted, have been prepared under the historical cost convention and in accordance with the Financial Reporting Standard for Smaller Entities (Effective April 2008).

Going concern

At the balance sheet date the company's liabilities exceeded its assets by £62,007. The directors have confirmed they will continue to financially support the company for the forseeable future. The accounts have been prepared on a going concern basis.

Turnover

Turnover represents amounts chargeable, net of value added tax, in respect of the sale of goods and services to customers.

Depreciation

Depreciation is provided on tangible fixed assets so as to write off the cost or valuation, less any estimated residual value, over their expected useful economic life as follows:

Asset class	Depreciation method and rate
Plant and machinery	25% on Cost
Fixtures and fittings	25% on Cost
Computer equipment	33.3% on Cost

Stock

Stock is valued at the lower of cost and net realisable value, after due regard for obsolete and slow moving stocks. Net realisable value is based on selling price less anticipated costs to completion and selling costs.

Hire purchase and leasing

Rentals payable under operating leases are charged in the profit and loss account on a straight line basis over the lease term.

Financial instruments

Financial instruments are classified and accounted for, according to the substance of the contractual arrangement, as 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. Where shares are issued, any component that creates a financial liability of the company is presented as a liability in the balance sheet. The corresponding dividends relating to the liability component are charged as interest expense in the profit and loss account.

Page 2

Asset Security Provision Ltd
Notes to the Abbreviated Accounts for the Year Ended 30 September 2015
......... continued

2	Fixed assets

		Tangible assets £			Total £
Cost
At 1 October 2014		2,411			2,411
Additions		17,464			17,464
At 30 September 2015		19,875			19,875
Depreciation
At 1 October 2014		710			710
Charge for the year		5,075			5,075
At 30 September 2015		5,785			5,785
Net book value
At 30 September 2015		14,090			14,090
At 30 September 2014		1,701			1,701

3	Share capital

Allotted, called up and fully paid shares

	30 September 2015						30 September 2014
		No.			£			No.			£
Ordinary of £1 each		100			100			100			100
Ordinary A of £1 each		54			54			54			54
Ordinary B of £1 each		25			25			25			25
Ordinary C of £1 each		10			10			10			10
Ordinary D of £1 each		6			6			6			6
Ordinary E of £1 each		5			5			5			5
		200			200			200			200

Page 3