Aspire Financial Ltd,Ltd - AccountsLtd - Accounts

Aspire Financial Ltd,Ltd - AccountsLtd - Accounts

ASPIRE FINANCIAL LTD - Company Information

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2016-03-01 06817628 2017-02-28 06817628 2016-03-01 2017-02-28 06817628 2016-02-29 06817628 2015-03-01 2016-02-29 06817628 uk-core:WithinOneYear 2016-02-29 06817628 uk-core:WithinOneYear 2017-02-28 06817628 uk-core:ShareCapital 2017-02-28 06817628 uk-core:ShareCapital 2016-02-29 06817628 uk-core:RetainedEarningsAccumulatedLosses 2017-02-28 06817628 uk-core:RetainedEarningsAccumulatedLosses 2016-02-29 06817628 uk-bus:Director1 2016-03-01 2017-02-28 06817628 uk-core:ToolsEquipment 2016-03-01 2017-02-28 06817628 uk-core:ToolsEquipment 2016-02-29 06817628 uk-core:Buildings 2016-02-29 06817628 uk-core:Buildings 2016-03-01 2017-02-28 06817628 uk-core:Buildings 2017-02-28 06817628 uk-core:ToolsEquipment 2017-02-28 06817628 uk-core:AfterOneYear 2017-02-28 06817628 uk-core:AfterOneYear 2016-02-29 iso4217:GBP 06817628 uk-bus:AuditExemptWithAccountantsReport 2016-03-01 2017-02-28 06817628 uk-bus:FRS102 2016-03-01 2017-02-28 06817628 uk-bus:FullAccounts 2016-03-01 2017-02-28 06817628 uk-bus:PrivateLimitedCompanyLtd 2016-03-01 2017-02-28
Aspire Financial Ltd
Registered Number:06817628
For the year ended 28 February 2017
England and Wales
Unaudited Financial Statements
2
For the year ended 28 February 2017
Aspire Financial Ltd
Contents Page
1
Statement of Financial Position
2 to 5
Notes to the Financial Statements
3
As at 28 February 2017
Aspire Financial Ltd
Statement of Financial Position
Registered Number :
06817628
£
£
2016
2017
Notes
Fixed assets
Property, plant and equipment
128,744
127,505
2
128,744
127,505
Current assets
Trade and other receivables
39,489
110,304
3
135,992
Cash and cash equivalents
139,211
249,515
175,481
Trade and other payables: amounts falling due
within one year
(46,121)
(48,001)
4
129,360
201,514
Net current assets
Total assets less current liabilities
330,258
256,865
330,258
Net assets
256,865
Capital and reserves
Called up share capital
200
200
Retained earnings
330,058
256,665
330,258
256,865
Shareholders' funds
For the year ended 28 February 2017 the company was entitled to exemption from audit under Section 477 of the Companies Act 2006 relating to small companies.
The members have not required the company to obtain an audit of its financial statements for the year ended 28 February 2017 in accordance with Section 476 of the Companies Act 2006
The directors acknowledge their responsibilities for:a) ensuring that the company keeps proper 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 Section 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.
In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been
delivered.
The financial statements have been prepared and delivered in accordance with the provisions of Part 15 of the Companies Act 2006 relating to small companies.
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4
For the year ended 28 February 2017
Aspire Financial Ltd
Statement of Financial Position Continued
Glen Robinson Director
These financial statements were approved and authorised for issue by the Board on 30 August 2017 and were signed by:
The notes form part of these financial statements
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5
For the year ended 28 February 2017
Aspire Financial Ltd
Notes to the Financial Statements
Statutory Information
Aspire Financial Ltd is a private limited company, limited by shares, domiciled in England and
Wales, registration number 06817628.
Registered address:
5 Chalk Hill House
Rosary Road
Norwich
Norfolk
NR1 1SZ
The presentation currency is £ sterling.
1. Accounting policies
Basis of preparing the financial statements
These financial statements have been prepared in accordance with the provisions of Section
1A of Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the
UK and Republic of Ireland' and the Companies Act 2006. The financial statements have
been prepared under the historical costs convention as modified by the revaluation of certain
assets.
Revenue recognition
Turnover comprises the invoiced value of goods and services supplied by the company, net of Value Added Tax and trade discounts.
Property, plant and equipment
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:
25% Reducing balance
Computer equipment
No depreciation is provided on the company''s freehold properties since in the opinion of the
directors the expected useful lives are sufficiently long and the estimated residual values are
sufficiently high that any such depreciation would be immaterial. The directors undertake an
annual impairment review of these properties.
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6
For the year ended 28 February 2017
Aspire Financial Ltd
Notes to the Financial Statements Continued
2. Property, plant and equipment
Total
Computer
equipment
Land and
buildings
£
£
£
Cost or
valuation
At 01 March 2016
129,861
2,981
126,880
1,861
1,861
-
Additions
At 28 February 2017
126,880
4,842
131,722
Provision for depreciation and impairm
ent
At 01 March 2016
2,356
2,356
-
Charge for year
622
622
-
At 28 February 2017
2,978
2,978
-
At 28 February 2017
Net book value
126,880
1,864
128,744
At 29 February 2016
126,880
625
127,505
3. Trade and other receivables
2016
2017
£
£
Other debtors
110,304
39,489
The debtors above include the following amounts falling due after more than one year:
Other debtors
80,000
-
4. Trade and other payables: amounts falling due within one year
2016
2017
£
£
Taxation and social security
45,856
45,002
Other creditors
2,145
1,119
48,001
46,121
5. Related party transactions
The Director and majority shareholder of Aspire Financial Limited, Mr Glen Robinson, is also a
Director and majority shareholder of Aspire Will Writers Limited.
Aspire Finanical Limited has loaned Aspire Will Writers Limited £80,000.00, repayable date to
be determined after 12 months.
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7
For the year ended 28 February 2017
Aspire Financial Ltd
Notes to the Financial Statements Continued
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