| Assynt Holdings Limited |
| Registered number: |
11929167 |
| Balance Sheet |
| as at 31 August 2022 |
|
| Notes |
|
|
2022 |
|
|
2021 |
| £ |
£ |
| Current assets |
| Debtors |
3 |
|
376,437 |
|
|
491,629 |
|
| Creditors: amounts falling due within one year |
4 |
|
(1,620) |
|
|
(6,307) |
|
| Net current assets |
|
|
|
374,817 |
|
|
485,322 |
|
| Total assets less current liabilities |
|
|
|
374,817 |
|
|
485,322 |
|
| Creditors: amounts falling due after more than one year |
5 |
|
|
(2,439,783) |
|
|
(2,572,007) |
|
|
|
| Net liabilities |
|
|
|
(2,064,966) |
|
|
(2,086,685) |
|
|
|
|
|
|
|
|
| Capital and reserves |
| Called up share capital |
|
|
|
3,912 |
|
|
3,912 |
| Profit and loss account |
|
|
|
(2,068,878) |
|
|
(2,090,597) |
|
| Shareholders' funds |
|
|
|
(2,064,966) |
|
|
(2,086,685) |
|
|
|
|
|
|
|
|
| The directors are satisfied that the company is entitled to exemption from the requirement to obtain an audit under section 477 of the Companies Act 2006. |
| The members have not required the company to obtain an audit in accordance with section 476 of the Act. |
| 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. |
| The accounts have been prepared and delivered in accordance with the special provisions applicable to companies subject to the small companies regime. The profit and loss account has not been delivered to the Registrar of Companies. |
|
|
|
|
| Graham Mccall |
| Director |
| Approved by the board on 11 May 2023 |
|
| Assynt Holdings Limited |
| Notes to the Accounts |
| for the year ended 31 August 2022 |
|
|
| 1 |
Accounting policies |
|
|
Basis of preparation |
|
The accounts have been prepared under the historical cost convention and in accordance with FRS 102, The Financial Reporting Standard applicable in the UK and Republic of Ireland (as applied to small entities by section 1A of the standard). |
|
|
|
Going concern |
|
At the time of approving the financial statements the company does not have any outgoings beyond incidental expenditure and does not have any third-party liabilities. The company’s only liability is to that of the director who has provided funds, by way of a loan account. The director, being the A shareholder, has given an undertaking to the company that he will support any immediate cash requirements and will not seek repayment of his loan account for at least a period of 12 months from the date of signing these financial statements, and only then should the company have sufficient funds to repay. The company holds first security over the assets on which the loans are advanced, and is of the view that, in the event of loans not being repaid when due, it should take a longer term view before exercising any security. This security can be exercised when appropriate, and at the company’s insistence at some future point, however the director believes this action to be inappropriate currently. It is in this context that the director continues to adapt the going concern basis of accounting in preparing the financial statements. |
|
|
|
Impairment of financial assets |
|
Financial assets, other than those held at fair value through profit and loss, are assessed for indicators of impairment at each reporting end date. Financial assets are impaired where there is objective evidence that, as a result of one or more events that occurred after the initial recognition of the financial asset, the estimated future cash flows have been affected. If an asset is impaired, the impairment loss is the difference between the carrying amount and the present value of the estimated cash flows discounted at the asset’s original effective interest rate. The impairment loss is recognised in profit or loss. If there is a decrease in the impairment loss arising from an event occurring after the impairment was recognised, the impairment is reversed. The reversal is such that the current carrying amount does not exceed what the carrying amount would have been, had the impairment not previously been recognised. The impairment reversal is recognised in profit or loss |
|
|
Debtors |
|
Short term debtors are measured at transaction price (which is usually the invoice price), less any impairment losses for bad and doubtful debts. Loans and other financial assets are initially recognised at transaction price including any transaction costs and subsequently measured at amortised cost determined using the effective interest method, less any impairment losses for bad and doubtful debts. |
|
|
Creditors |
|
Short term creditors are measured at transaction price (which is usually the invoice price). Loans and other financial liabilities are initially recognised at transaction price net of any transaction costs and subsequently measured at amortised cost determined using the effective interest method. |
|
|
Taxation |
|
A current tax liability is recognised for the tax payable on the taxable profit of the current and past periods. A current tax asset is recognised in respect of a tax loss that can be carried back to recover tax paid in a previous period. Deferred tax is recognised in respect of all timing differences between the recognition of income and expenses in the financial statements and their inclusion in tax assessments. 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. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date and that are expected to apply to the reversal of the timing difference, except for revalued land and investment property where the tax rate that applies to the sale of the asset is used. Current and deferred tax assets and liabilities are not discounted. |
|
|
Provisions |
|
Provisions (ie liabilities of uncertain timing or amount) are recognised when there is an obligation at the reporting date as a result of a past event, it is probable that economic benefit will be transferred to settle the obligation and the amount of the obligation can be estimated reliably. |
|
|
| 2 |
Employees |
2022 |
|
2021 |
| Number |
Number |
|
|
Average number of persons employed by the company |
0 |
|
0 |
|
|
|
|
|
|
|
|
|
|
| 3 |
Debtors |
2022 |
|
2021 |
| £ |
£ |
|
|
Other debtors |
376,437 |
|
491,629 |
|
|
|
|
|
|
|
|
|
|
| 4 |
Creditors: amounts falling due within one year |
2022 |
|
2021 |
| £ |
£ |
|
|
Bank loans and overdrafts |
35 |
|
28 |
|
Other creditors |
1,585 |
|
6,279 |
|
|
|
|
|
|
1,620 |
|
6,307 |
|
|
|
|
|
|
|
|
|
|
| 5 |
Creditors: amounts falling due after one year |
2022 |
|
2021 |
| £ |
£ |
|
|
Other creditors |
2,439,783 |
|
2,572,007 |
|
|
|
|
|
|
|
|
|
|
| 6 |
Other information |
|
|
Assynt Holdings Limited is a private company limited by shares and incorporated in England. Its registered office is: |
|
36 Wedgwood Way |
|
Rochford |
|
Essex |
|
SS4 3AS |
