Astek Innovations Limited - Accounts to registrar (filleted) - small 18.2
Astek Innovations Limited - Accounts to registrar (filleted) - small 18.2
| REGISTERED NUMBER: |
| Unaudited Financial Statements |
| for the Year Ended 31 March 2018 |
| for |
| ASTEK INNOVATIONS LIMITED |
| ASTEK INNOVATIONS LIMITED (REGISTERED NUMBER: 05097602) |
| Contents of the Financial Statements |
| for the Year Ended 31 March 2018 |
| Page |
| Company Information | 1 |
| Balance Sheet | 2 |
| Notes to the Financial Statements | 4 |
| ASTEK INNOVATIONS LIMITED |
| Company Information |
| for the Year Ended 31 March 2018 |
| Directors: |
| Secretary: |
| Registered office: |
| Registered number: |
| Accountants: |
| Northern Assurance Buildings |
| 9-21 Princess Street |
| Manchester |
| M2 4DN |
| Bankers: |
| 10 High Street |
| Cheadle |
| Cheshire |
| SK8 1AL |
| Solicitors: |
| Scottish Mutual House |
| 35 Peter Street |
| Manchester |
| M2 5BG |
| ASTEK INNOVATIONS LIMITED (REGISTERED NUMBER: 05097602) |
| Balance Sheet |
| 31 March 2018 |
| 2018 | 2017 |
| Notes | £ | £ | £ | £ |
| Fixed assets |
| Intangible assets | 5 |
| Tangible assets | 6 |
| Investments | 7 |
| Current assets |
| Stocks | 8 |
| Debtors | 9 |
| Cash at bank |
| Creditors |
| Amounts falling due within one year | 10 |
| Net current assets |
| Total assets less current liabilities |
| Creditors |
| Amounts falling due after more than one year |
11 |
( |
) |
| Provisions for liabilities | ( |
) | ( |
) |
| Net assets |
| Capital and reserves |
| Called up share capital | 12 |
| Share premium | 13 |
| Other reserves | 13 |
| Retained earnings | 13 |
| Shareholders' funds |
| ASTEK INNOVATIONS LIMITED (REGISTERED NUMBER: 05097602) |
| Balance Sheet - continued |
| 31 March 2018 |
| The directors acknowledge their 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. |
| In accordance with Section 444 of the Companies Act 2006, the Profit and Loss Account has not been delivered. |
| The financial statements were approved by the Board of Directors on |
| ASTEK INNOVATIONS LIMITED (REGISTERED NUMBER: 05097602) |
| Notes to the Financial Statements |
| for the Year Ended 31 March 2018 |
| 1. | Statutory information |
| Astek Innovations Limited is a |
| company's registered number and registered office address can be found on the Company Information page. |
| 2. | Statement of compliance |
| 3. | Accounting policies |
| Basis of preparing the financial statements |
| Preparation of consolidated financial statements |
| The financial statements present information about the company as an individual undertaking and not about its |
| group. |
| The subsidiary companies are dormant and are immaterial and therefore the group financial statements would |
| not be materially different from those of the company |
| Turnover |
| Turnover represents amounts receivable for goods and services net of value added tax and trade discounts. |
| Goodwill |
| Goodwill is the difference between the cost of an acquired entity and the aggregate of the fair value of the |
| entity's identifiable assets and liabilities. |
| Positive goodwill is capitalised, classified as an asset on the balance sheet and amortised on straight line basis |
| over its estimated useful life of twenty years. |
| Goodwill is reviewed for impairment at the end of the first full financial period following the acquisition and the |
| other periods if events or changes in circumstances indicate that the carrying value may not be recoverable. |
| Intangible assets |
| Intangible assets are initially measured at cost. After initial recognition, intangible assets are measured at cost |
| less any accumulated amortisation and any accumulated impairment losses. |
| Tangible fixed assets |
| Plant and machinery | - |
| Fixtures and fittings | - |
| Tangible fixed assets are stated at cost (or deemed cost) or valuation less accumulated depreciation and |
| accumulated impairment losses. |
| Investments in subsidiaries |
| Investments in subsidiary undertakings are recognised at cost less any provision for impairment. |
| Stocks |
| Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and |
| slow moving items. |
| ASTEK INNOVATIONS LIMITED (REGISTERED NUMBER: 05097602) |
| Notes to the Financial Statements - continued |
| for the Year Ended 31 March 2018 |
| 3. | Accounting policies - continued |
| Taxation |
| Taxation for the year comprises current and deferred tax. Tax is recognised in the Profit and Loss Account, |
| except to the extent that it relates to items recognised in other comprehensive income or directly in equity. |
| Current or deferred taxation assets and liabilities are not discounted. |
| Current tax is recognised at the amount of tax payable using the tax rates and laws that have been enacted or |
| substantively enacted by the balance sheet date. |
| Deferred tax |
| Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the |
| balance sheet date. |
| Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from |
| those in which they are recognised in financial statements. Deferred tax is measured using tax rates and laws |
| that have been enacted or substantively enacted by the year end and that are expected to apply to the reversal |
| of the timing difference. |
| 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. |
| Research and development |
| Research expenditure is written off in the year in which it is incurred. |
| Development expenditure is written off in the same way unless the directors are satisfied as to the technical, |
| commercial and financial viability of projects. In this situation, the expenditure is deferred and amortised over |
| the period during which the company is expected to benefit from that expenditure. |
| Foreign currencies |
| Monetary assets and liabilities denominated in foreign currencies are translated into sterling at the rates of |
| exchange ruling at the balance sheet date. Transactions denominated in foreign currencies are translated into |
| sterling at the rate of exchange ruling at the date of the transaction. All revaluation differences and realised |
| foreign exchange differences are taken to the profit and loss account. |
| Hire purchase and leasing commitments |
| Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the |
| lease. |
| Loans and borrowings |
| Loans and borrowings are initially recognised at the transaction price including transaction costs. Subsequently, |
| they are measured at amortised cost using the effective interest rate method, less impairment. If an arrangement |
| constitutes a finance transaction it is measured at present value. |
| Debtors payable and creditors receivable within one year |
| Debtors and creditors with no stated interest rate and receivable or payable within one year are recorded at |
| transaction price. Any losses arising from impairment are recognised in the Profit and Loss Account in |
| administrative expenses. |
| 4. | Employees and directors |
| The average number of employees during the year was NIL (2017 - 16 ). |
| ASTEK INNOVATIONS LIMITED (REGISTERED NUMBER: 05097602) |
| Notes to the Financial Statements - continued |
| for the Year Ended 31 March 2018 |
| 5. | Intangible fixed assets |
| Other |
| intangible |
| Goodwill | assets | Totals |
| £ | £ | £ |
| Cost |
| At 1 April 2017 |
| Additions |
| At 31 March 2018 |
| Amortisation |
| At 1 April 2017 |
| Charge for year |
| At 31 March 2018 |
| Net book value |
| At 31 March 2018 |
| At 31 March 2017 |
| 6. | Tangible fixed assets |
| Fixtures |
| Plant and | and |
| machinery | fittings | Totals |
| £ | £ | £ |
| Cost |
| At 1 April 2017 |
| Additions |
| At 31 March 2018 |
| Depreciation |
| At 1 April 2017 |
| Charge for year |
| At 31 March 2018 |
| Net book value |
| At 31 March 2018 |
| At 31 March 2017 |
| ASTEK INNOVATIONS LIMITED (REGISTERED NUMBER: 05097602) |
| Notes to the Financial Statements - continued |
| for the Year Ended 31 March 2018 |
| 7. | Fixed asset investments |
| Shares in |
| group |
| undertaking |
| £ |
| Cost |
| At 1 April 2017 |
| and 31 March 2018 |
| Provisions |
| At 1 April 2017 |
| and 31 March 2018 | 317,090 |
| Net book value |
| At 31 March 2018 |
| At 31 March 2017 |
| 8. | Stocks |
| 2018 | 2017 |
| £ | £ |
| Stocks of goods for re-sale |
| 9. | Debtors: amounts falling due within one year |
| 2018 | 2017 |
| £ | £ |
| Trade debtors |
| Other debtors |
| 10. | Creditors: amounts falling due within one year |
| 2018 | 2017 |
| £ | £ |
| Trade creditors |
| Taxation and social security |
| Other creditors |
| 11. | Creditors: amounts falling due after more than one year |
| 2018 | 2017 |
| £ | £ |
| Other creditors |
| ASTEK INNOVATIONS LIMITED (REGISTERED NUMBER: 05097602) |
| Notes to the Financial Statements - continued |
| for the Year Ended 31 March 2018 |
| 12. | Called up share capital |
| Allotted, issued and fully paid: |
| Number: | Class: | Nominal | 2018 | 2017 |
| value: | £ | £ |
| Ordinary shares | £1 | 186,528 | 186,528 |
| 13. | Reserves |
| Retained | Share | Other |
| earnings | premium | reserves | Totals |
| £ | £ | £ | £ |
| At 1 April 2017 | 1,819,276 |
| Profit for the year | - | - |
| At 31 March 2018 | 2,175,318 |
| 14. | Control |
| The company is controlled by A Segal (together with his family) with a controlling interest of 100%. |