Ascenta (UK) Limited - Accounts to registrar - small 17.2

REGISTERED NUMBER: 07381226 (England and Wales)

Unaudited Financial Statements for the Year Ended 31 December 2016

for

Ascenta (UK) Limited

Page

Company Information

1

Statement of Financial Position

2

Notes to the Financial Statements

3

DIRECTOR:

A J Cox

REGISTERED OFFICE:

2nd Floor

Hygeia House

66 College Road

Harrow

Middlesex

HA1 1BE

REGISTERED NUMBER:

07381226 (England and Wales)

ACCOUNTANTS:

Lawrence Grant

Chartered Accountants

and Reporting Accountants

2nd Floor

Hygeia House

66 College Road

Harrow

Middlesex

HA1 1BE

CURRENT ASSETS

Debtors

4

124,476

377,993

Cash at bank and in hand

309,861

1,130,248

434,337

1,508,241

CREDITORS

Amounts falling due within one year

5

131,899

933,957

NET CURRENT ASSETS

302,438

574,284

TOTAL ASSETS LESS CURRENT LIABILITIES

302,438

574,284

CAPITAL AND RESERVES

Called up share capital

101

101

Retained earnings

302,337

574,183

SHAREHOLDERS' FUNDS

302,438

574,284

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 December 2016.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 December 2016 in accordance with Section 476 of the Companies Act 2006.

The director acknowledges his responsibilities for:

(a)	ensuring that the company keeps 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 Sections 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.

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.

In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered.

The financial statements were approved by the director on 17 August 2017 and were signed by:

A J Cox - Director

1.	STATUTORY INFORMATION

Ascenta (UK) Limited is a private company, limited by shares , registered in England and Wales. The company's

registered number and registered office address can be found on the Company Information page.

The presentation currency of the financial statements is the Pound Sterling (£).

2.	ACCOUNTING POLICIES

Basis of preparing the financial statements

These financial statements have been prepared in accordance with the provisions of Section 1A "Small Entities" 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 cost convention.

This is the first in which the financial statements have been prepared under FRS 101 1A.

Turnover

Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates,

value added tax and other sales taxes.

Research and development

Expenditure on research and development is written off in the year of expenditure through the profit and loss

account.

Foreign currencies

Assets and liabilities in foreign currencies are translated into sterling at the rates of exchange ruling at the

Statement of Financial Position date. Transactions in foreign currencies are translated into sterling at the rate of

exchange ruling at the date of transaction. Exchange differences are taken into account in arriving at the

operating result.

Financial instruments

Financial instruments are classified and accounted for, according to the substance of the contractual arrangement,

as either 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.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 1 (2015 - 1 ) .

4.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2016

2015

£

£

Other debtors

124,476

377,993

5.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2016

2015

£

£

Trade creditors

19,182

738,695

Taxation and social security

-

83,415

Other creditors

112,717

111,847

131,899

933,957

6.	RELATED PARTY DISCLOSURES

At the balance sheet date, the director A J Cox had a credit balance of £727 (2015: £207) on his current account.

This was an interest free loan to the company and is included in other creditors.

During the year under review, Andrew Cox Ltd, a company of which A J Cox is a director invoiced the Ascenta

(UK) Limited the sum of £32,000 (2015: £781,136) for R&D labour.

7.	ULTIMATE CONTROLLING PARTY

The ultimate controlling parties are the director, A J Cox and shareholder H Cox, by virtue of each having

ownership of 50% of the issued share capital of the company.