Company Registration No. 11390706 (England and Wales)
ASTRA ASSET HOLDINGS LIMITED
(FORMERLY ASTRA CAPITA HOLDINGS LIMTED)
UNAUDITED FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MAY 2020
PAGES FOR FILING WITH REGISTRAR
ASTRA ASSET HOLDINGS LIMITED
(FORMERLY ASTRA CAPITA HOLDINGS LIMTED)
CONTENTS
Page
Statement of financial position
1
Statement of changes in equity
2
Notes to the financial statements
3 - 7
ASTRA ASSET HOLDINGS LIMITED
(FORMERLY ASTRA CAPITA HOLDINGS LIMTED)
STATEMENT OF FINANCIAL POSITION
- 1 -
2020
2019
Notes
£
£
£
£
Non-current assets
Property, plant and equipment
3
1,015
-
Investments
4
264
263
1,279
263
Current assets
Trade and other receivables
5
308,360
-
Investments
6
151,070
-
Cash and cash equivalents
198,873
1,000
658,303
1,000
Current liabilities
7
(95,600)
(1,223)
Net current assets/(liabilities)
562,703
(223)
Total assets less current liabilities
563,982
40
Equity
Called up share capital
8
1,000
1,000
Retained earnings
562,982
(960)
Total equity
563,982
40
The director of the company has elected not to include a copy of the income statement within the financial statements.
true
For the financial year ended 31 May 2020 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
The director acknowledges his responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.
T
he member has not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476
.
These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.
The financial statements were approved and signed by the director and authorised for issue on 7 July 2020
S M Broad
Director
Company Registration No. 11390706
ASTRA ASSET HOLDINGS LIMITED
(FORMERLY ASTRA CAPITA HOLDINGS LIMTED)
STATEMENT OF CHANGES IN EQUITY
FOR THE YEAR ENDED 31 MAY 2020
- 2 -
Share capital
Retained earnings
Total
Notes
£
£
£
Balance at 31 May 2018
-
-
-
Period ended 31 May 2019:
Profit and total comprehensive income for the period
-
155,633
155,633
Issue of share capital
8
1,000
-
1,000
Dividends
-
(156,593)
(156,593)
Balance at 31 May 2019
1,000
(960)
40
Period ended 31 May 2020:
Profit and total comprehensive income for the period
-
645,942
645,942
Dividends
-
(82,000)
(82,000)
Balance at 31 May 2020
1,000
562,982
563,982
ASTRA ASSET HOLDINGS LIMITED
(FORMERLY ASTRA CAPITA HOLDINGS LIMTED)
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MAY 2020
- 3 -
1
Accounting policies
Company information
Astra Asset Holdings Limited is a
private
company
limited by shares
incorporated in England and Wales.
The registered office is
First Floor, Thavies Inn House, 3-4 Holborn Circus, London, EC1N 2HA.
1.1
Accounting convention
These financial statements have been prepared in accordance with FRS 102 “The Financial Reporting Standard applicable in the UK and Republic of Ireland” (“FRS 102”) and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime. The disclosure requirements of section 1A of FRS 102 have been applied other than where additional disclosure is required to show a true and fair view.
The financial statements are prepared in
sterling
, which is the functional currency of the company.
Monetary a
mounts
in these financial statements are
rounded to the nearest £.
The financial statements have been prepared under the historical cost convention. The principal accounting policies adopted are set out below.
These financial statements for the year ended 31 May 2020
are the
first
financial statements of Astra Asset Holdings Limited prepared in accordance with FRS 102, The Financial Reporting Standard applicable in the UK and Republic of Ireland. The date of transition to FRS 102 was 31 May 2018. The reported financial position and financial performance for the previous period are not affected by the transition to FRS 102.
The company has taken advantage of the exemption under section
399
of the
Companies Act 2006 not to prepare consolidated accounts
, on the basis that the group of which this is the parent qualifies as a small group
. The financial statements present information about the company as an individual entity and not about its group
.
1.2
Reporting period
The financial statements cover the year ended 31 May 2020 and the comparatives cover the period from the company's formation on 31 May 2018 to 31 May 2019.
1.3
Property, plant and equipment
Property, plant and equipment
are initially measured at cost and subsequently measured at cost, net of depreciation and any impairment losses.
Depreciation is recognised so as to write off the cos
t
of assets less their residual values
on a straight line basis
over their useful lives on the following bases:
Fixtures, fittings & equipment
3 years
The gain or loss arising on the disposal of an asset is determined as the difference between the sale proceeds and the carrying value of the asset, and
is credited or charged to the statement of income
.
1.4
Non-current investments
Interests in subsidiaries, associates and jointly controlled entities are initially measured at cost and subsequently measured at cost less any accumulated impairment losses.
The investments are assessed for impairment at each reporting date
and
any
impairment
losses or reversals of impairment losses are recognised immediately in
the income statement
.
A subsidiary is an entity controlled by the company
. Control is
the power to govern the financial and operating policies of
the
entity so as to obtain benefits from its activities.
ASTRA ASSET HOLDINGS LIMITED
(FORMERLY ASTRA CAPITA HOLDINGS LIMTED)
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MAY 2020
1
Accounting policies
(Continued)
- 4 -
An associate is an entity, being neither a subsidiary nor a joint venture, in which the company holds a long-term interest and where the company has significant influence. The company considers that it has significant influence where it has the power to participate in the financial and operating decisions of the associate.
Entities in which the company has a long term interest and shares control under a contractual arrangement are classified as jointly controlled entities
.
1.5
Impairment of non-current assets
At each reporting
period
end date, the
company
reviews the carrying amounts of its tangible
assets to determine whether there is any indication that those assets have suffered an impairment loss. If any such indication exists, the recoverable amount of the asset is estimated in order to determine the extent of the impairment loss (if any). Where it is not possible to estimate the recoverable amount of an individual asset, the company
estimates the recoverable amount of the cash-generating unit to which the asset belongs.
1.6
Cash and cash equivalents
Cash and cash equivalents
are basic financial assets
and
include cash in hand, deposits held at call with banks, other short-term liquid investments with original maturities of three months or less, and bank overdrafts. Bank overdrafts are shown within borrowings in current liabilities.
1.7
Financial instruments
The company has elected to apply the provisions of Section 11 ‘Basic Financial Instruments’ and Section 12 ‘Other Financial Instruments Issues’ of FRS 102 to all of its financial instruments.
Financial instruments are recognised in the company's statement of financial position when the company becomes party to the contractual provisions of the instrument.
Financial assets and liabilities are offset
, with
the net amounts presented in the financial statements
,
when there is a legally enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously.
Basic financial assets
Basic financial assets, which include trade and other receivables and cash and bank balances, are initially measured at transaction price including transaction costs and are subsequently carried at amortised cost using the effective interest
method unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest.
Financial assets classified as receivable within one year are not amortised.
Classification of financial liabilities
Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instrument is any contract that evidences a residual interest in the assets of the company after deducting all of its liabilities.
ASTRA ASSET HOLDINGS LIMITED
(FORMERLY ASTRA CAPITA HOLDINGS LIMTED)
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MAY 2020
1
Accounting policies
(Continued)
- 5 -
Basic financial liabilities
Basic financial liabilities, including trade and other payables, bank loans, loans from
fellow group companies and preference shares that are classified as debt, are
initially recognised at transaction price unless the arrangement constitutes a
financing transaction, where the debt instrument is measured at the present value of
the future
paymen
ts discounted at a market rate of interest.
Financial liabilities classified as payable within one year are not amortised.
Debt instruments are subsequently carried at amortised cost, using the effective
interest rate method.
Trade payables
are obligations to pay for goods or services that have been acquired
in the ordinary course of business from suppliers. A
m
ounts payable are classified as
current liabilities if payment is due within one year or less. If not, they are presented
as non-current liabilities. Trade payables are recognised initially at transaction price
and subsequently measured at amortised cost using the effective interest method.
1.8
Equity instruments
Equity instruments issued by the company are recorded at the proceeds received, net of transaction costs. Dividends payable on equity instruments are recognised as liabilities once they are no longer at the discretion of the company.
2
Employees
The average monthly number of persons (including directors) employed by the company during the year was:
2020
2019
Number
Number
Total
1
1
3
Property, plant and equipment
Fixtures, fittings & equipment
£
Cost
Additions
1,354
At 31 May 2020
1,354
Depreciation and impairment
Depreciation charged in the year
339
At 31 May 2020
339
Carrying amount
At 31 May 2020
1,015
At 31 May 2019
-
4
Fixed asset investments
ASTRA ASSET HOLDINGS LIMITED
(FORMERLY ASTRA CAPITA HOLDINGS LIMTED)
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MAY 2020
4
Fixed asset investments
(Continued)
- 6 -
Shares in group undertakings
£
Cost
At 1 June 2019
263
Additions
1
At 31 May 2020
264
Carrying amount
At 31 May 2020
264
At 31 May 2019
263
5
Trade and other receivables
2020
2019
£
£
Amounts falling due within one year:
Amounts owed by group undertakings
67,410
-
Other receivables
240,950
-
308,360
-
Other receivables include:
£194,489 (2019 - £nil) due from S M Broad. This lending is unsecured, repayable on demand and interest of £508 (2019 - £nil) was charged.
£9,420 due from KO Nutrition Limited. This lending is unsecured, repayable on demand and interest free.
6
Current asset investments
2020
2019
£
£
Other investments
151,070
-
ASTRA ASSET HOLDINGS LIMITED
(FORMERLY ASTRA CAPITA HOLDINGS LIMTED)
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MAY 2020
- 7 -
7
Current liabilities
2020
2019
£
£
Bank loans
50,000
-
Amounts owed to group undertakings
12,240
263
Other payables
33,360
960
95,600
1,223
Other payables include £30,000 (2019 - £nil) due from Embrk Limited, a company in which S M Broad has a material interest. This lending is unsecured, repayable on demand and interest free.
8
Called up share capital
2020
2019
£
£
Ordinary share capital
Issued and fully paid
1,000 ordinary shares of £1 each
1,000
1,000
2020-05-31
2019-06-01
false
07 July 2020
CCH Software
CCH Accounts Production 2020.200
No description of principal activity
S M Broad
2020-07-07
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