ACCOUNTS - Final Accounts


Caseware UK (AP4) 2020.0.247 2020.0.2472020-08-312020-08-312021-05-24trueNo description of principal activity3The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.2019-09-01false3false063484032019-09-012020-08-31063484032018-09-012019-08-31063484032020-08-31063484032019-08-3106348403 c:Director2 2019-09-012020-08-3106348403 d:CurrentFinancialInstruments 2020-08-3106348403 d:CurrentFinancialInstruments 2019-08-3106348403 d:CurrentFinancialInstruments d:WithinOneYear 2020-08-3106348403 d:CurrentFinancialInstruments d:WithinOneYear 2019-08-3106348403 d:ShareCapital 2020-08-3106348403 d:ShareCapital 2019-08-3106348403 d:OtherMiscellaneousReserve 2020-08-3106348403 d:OtherMiscellaneousReserve 2019-08-3106348403 d:RetainedEarningsAccumulatedLosses 2020-08-3106348403 d:RetainedEarningsAccumulatedLosses 2019-08-3106348403 c:OrdinaryShareClass1 2019-09-012020-08-3106348403 c:OrdinaryShareClass1 2020-08-3106348403 c:OrdinaryShareClass1 2019-08-3106348403 c:FRS102 2019-09-012020-08-3106348403 c:AuditExempt-NoAccountantsReport 2019-09-012020-08-3106348403 c:FullAccounts 2019-09-012020-08-3106348403 c:PrivateLimitedCompanyLtd 2019-09-012020-08-3106348403 2 2019-09-012020-08-3106348403 6 2019-09-012020-08-31xbrli:sharesiso4217:GBPxbrli:pure

Registered number: 06348403













ACTIVE ASSETS LIMITED
FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 AUGUST 2020

 
ACTIVE ASSETS LIMITED
 

CONTENTS



Page
Statement of Financial Position
 
1
Notes to the Financial Statements
 
2 - 4


 
ACTIVE ASSETS LIMITED
REGISTERED NUMBER:06348403

STATEMENT OF FINANCIAL POSITION
AS AT 31 AUGUST 2020

2020
2019
Note
£
£

  

Current assets
  

Debtors: amounts falling due within one year
 4 
-
91,450

Current asset investments
 5 
360,832
459,112

Cash at bank and in hand
  
920
1,566

  
361,752
552,128

Current liabilities
  

Creditors: amounts falling due within one year
 6 
(615,622)
(568,680)

  

Net liabilities
  
(253,870)
(16,552)


Capital and reserves
  

Called up share capital 
 7 
150
150

Other reserves
  
(466,475)
(305,838)

Profit and loss account
  
212,455
289,136

  
(253,870)
(16,552)


The directors consider that the Company is entitled to exemption from audit under section 477 of the Companies Act 2006 and members have not required the Company to obtain an audit for the year in question in accordance with section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.

The financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies regime and in accordance with the provisions of FRS 102 Section 1A - small entities.

The financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime.

The Company has opted not to file the statement of comprehensive income in accordance with provisions applicable to companies subject to the small companies' regime.

The financial statements were approved and authorised for issue by the board and were signed on its behalf on 24 May 2021.




F Baroukh
Director

The notes on pages 2 to 4 form part of these financial statements.

Page 1

 
ACTIVE ASSETS LIMITED
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 AUGUST 2020

1.


General information

Active Assets Limited is a company limited by shares incorporated in England and Wales. The registered office is 10 Somerset Square, London, W14 8EE
The financial statements are presented in £ sterling, which is the functional currency of the company.
The principal activity of the company during the year continued to be that of trade investments. 

2.Accounting policies

 
2.1

Basis of preparation of financial statements

The financial statements have been prepared under the historical cost convention unless otherwise specified within these accounting policies and in accordance with Section 1A of Financial Reporting Standard 102, the Financial Reporting Standard applicable in the UK and the Republic of Ireland and the Companies Act 2006.

The following principal accounting policies have been applied:

 
2.2

Going concern

The company made a loss for the year and at the balances sheet date has net current liabilities and net liabilities. The directors have obtained assurance from the shareholders that funds will be made available to the company so that it will be able to carry on trading and meet its financial obligations as and when they fall due for at least twelve months from the date the accounts are approved. The accounts have been prepared under going concern on this basis.

 
2.3

Valuation of investments

Investments in listed company shares are remeasured to market value at each Statement of Financial Position date. Gains and losses on remeasurement are recognised in profit or loss for the period.

 
2.4

Financial instruments

Basic financial instruments include other debtors, other creditors, cash and bank balances, and related party loans.
Other debtors are recognised initially at the transaction price less attributable transaction costs. Other creditors are recognised initially at transaction price plus attributable transaction costs. Subsequent to initial recognition they are measured at amortised cost using the effective interest method, less any impairment losses in the case of other debtors. If the arrangement constitutes a financing transaction, for example if payment is deferred beyond normal business terms, then it is measured at the present value of future payments discounted at a market rate of interest.
Cash and cash equivalents comprise cash balances and call deposits. Bank overdrafts that are repayable on demand and form an integral part of the company's cash management.

Investments in non-derivative instruments that are equity to the issuer are measured:
at fair value with changes recognised in the Statement of Comprehensive Income if the shares are publicly traded or their fair value can otherwise be measured reliably;
at cost less impairment for all other investments.

Page 2

 
ACTIVE ASSETS LIMITED
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 AUGUST 2020

2.Accounting policies (continued)

 
2.5

Dividends

Equity dividends are recognised when they become legally payable. Interim equity dividends are recognised when paid. Final equity dividends are recognised when approved by the shareholders at an annual general meeting.

 
2.6

Interest income

Interest income is recognised in profit or loss using the effective interest method.

 
2.7

Taxation

Tax is recognised in profit or loss except that a charge attributable to an item of income and expense recognised as other comprehensive income or to an item recognised directly in equity is also recognised in other comprehensive income or directly in equity respectively.

The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the reporting date in the countries where the Company operates and generates income.


3.


Employees

The average monthly number of employees, including directors, during the year was 3 (2019 - 3).


4.


Debtors

2020
2019
£
£


Other debtors
-
91,450



5.


Current asset investments

2020
2019
£
£

Listed investments
360,832
459,112


Page 3

 
ACTIVE ASSETS LIMITED
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 AUGUST 2020

6.


Creditors: Amounts falling due within one year

2020
2019
£
£

Other creditors
613,102
565,650

Accruals and deferred income
2,520
3,030

615,622
568,680



7.


Share capital

2020
2019
£
£
Allotted, called up and fully paid



150 (2019 - 150) Ordinary shares of £1 each
150
150



8.


Related party transactions

As at the year end,  the Company owed £595,650 (2019 - £565,650) to entities under common directorship included within other creditors.

 
Page 4