Ascension Design Limited - Accounts

Ascension Design Limited - Accounts

ASCENSION DESIGN LIMITED - Company Information

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Registered Number : 04437546
England and Wales

 

 

 

ASCENSION DESIGN LIMITED


Abridged Accounts
 


Period of accounts

Start date: 01 July 2016

End date: 30 June 2017

Ascension Design Limited
Contents Page
For the year ended 30 June 2017
As described in the Statement of Financial Position you are responsible for the preparation of the financial statements for the year ended 30 June 2017 and you consider that the company is exempt from an audit under the Companies Act 2006. In accordance with your instructions, we have compiled these unaudited financial statements in order to assist you to fulfil your statutory responsibilities, from the accounting records and information and explanations supplied to us.



....................................................
Chawton Hector
14 Grafton Road
Roade
NN7 2NQ

31 October 2017
1
 
 		 Notes
 		 2017
£		   2016
£
Fixed assets      
Intangible fixed assets 2 3,750    4,500 
Tangible fixed assets 3 0    522 
3,750    5,022 
Current assets      
Debtors 1,953    853 
Creditors: amount falling due within one year (7,188)   (5,311)
Net current assets (5,235)   (4,458)
 
Total assets less current liabilities (1,485)   564 
Net assets (1,485)   564 
 

Capital and reserves 		     
Called up share capital 4 1    1 
Profit and loss account (1,486)   563 
Shareholders funds (1,485)   564 
 


For the year ended 30 June 2017 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Director's Responsibilities:
  1. The members have not required the company to obtain an audit of its accounts for the year in question in accordance with section 476
  2. The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts
These accounts have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

The members have agreed to the preparation of abridged accounts.
Signed on behalf of the board of directors


--------------------------------
Christopher Barker
Director

Date approved by the board: 31 October 2017
2
Statutory Information
Ascension Design Limited is a private limited company, limited by shares, domiciled in England and Wales, registration number 04437546.

The presentation currency is £ sterling.
1.

Accounting Policies

Basis of accounting
The financial statements have been prepared in accordance with the provisions of FRS 102 Section 1A small entities. There were no material departures from that standard.
Going Concern
The financial statements have been prepared on a going concern basis. The company's ongoing activities are dependent upon the continued support of the director who has undertaken to provide such support for the foreseeable future.

If the going concern basis were not appropriate, adjustments would have to be made to reduce the value of assets to their recoverable amount, to provide for any further liabilities that may arise and to reclassify fixed assets as current assets and long term liabilities as current liabilities.
Turnover
Turnover comprises the invoiced value of goods and services supplied by the company, net of Value Added Tax and trade discounts.
Intangible assets
Intangible assets (including purchased goodwill and patents) are amortised at rates calculated to write off the assets on a straight line basis over their estimated useful economic lives. Impairment of intangible assets is only reviewed where circumstances indicate that the carrying value of an asset may not be fully recoverable.
Goodwill
Acquired goodwill is stated at cost less amortisation. Goodwill, being the amount paid in connection with the acquisition of a business in 2002, is being amortised evenly over its estimate useful life of twenty years.
Tangible fixed assets
Tangible fixed assets, other than freehold land, are stated at cost or valuation less depreciation and any provision for impairment. Depreciation is provided at rates calculated to write off the cost or valuation of fixed assets, less their estimated residual value, over their expected useful lives on the following basis:
Computer Equipment 33% Reducing Balance
Fixtures and Fittings 33% Reducing Balance
2.

Intangible fixed assets

Cost or Valuation Goodwill   Total
  £   £
At 01 July 2016 15,000    15,000 
Additions -    - 
Disposals -    - 
At 30 June 2017 15,000    15,000 
Amortisation
At 01 July 2016 10,500    10,500 
Charge for year 750    750 
On disposals -    - 
At 30 June 2017 11,250    11,250 
Net book values
At 30 June 2017 3,750    3,750 
At 30 June 2016 4,500    4,500 


3.

Tangible fixed assets

Cost or Valuation Fixtures and Fittings   Computer Equipment   Total
  £   £   £
At 01 July 2016 9,969    1,537    11,506 
Additions -    -    - 
Disposals -    -    - 
At 30 June 2017 9,969    1,537    11,506 
Depreciation
At 01 July 2016 9,969    1,015    10,984 
Charge for year -    522    522 
On disposals -    -    - 
At 30 June 2017 9,969    1,537    11,506 
Net book values
Closing balance as at 30 June 2017 -    -    - 
Opening balance as at 01 July 2016 -    522    522 


4.

Share Capital

Allotted
2017
£		   2016
£
1 Ordinary shares of £1.00 each 1    1 
1    1 

3