REGISTERED NUMBER:
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Asian Assoc Culture Commerce And |
Education In Europe LBG Limited |
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Unaudited Financial Statements |
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for the Year Ended 31 July 2021 |
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REGISTERED NUMBER:
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Asian Assoc Culture Commerce And |
Education In Europe LBG Limited |
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Unaudited Financial Statements |
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for the Year Ended 31 July 2021 |
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Asian Assoc Culture Commerce And |
Education In Europe LBG Limited (Registered number: SC540440) |
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Contents of the Financial Statements |
for the Year Ended 31 July 2021 |
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Page |
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Company Information | 1 |
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Balance Sheet | 2 |
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Notes to the Financial Statements | 4 |
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Asian Assoc Culture Commerce And |
Education In Europe LBG Limited |
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Company Information |
for the Year Ended 31 July 2021 |
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DIRECTOR: |
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REGISTERED OFFICE: |
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REGISTERED NUMBER: |
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ACCOUNTANTS: |
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9 Ainslie Place |
Edinburgh |
Midlothian |
EH3 6AT |
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BANKERS: |
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239 St John's Road |
Edinburgh |
EH12 7XA |
Asian Assoc Culture Commerce And |
Education In Europe LBG Limited (Registered number: SC540440) |
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Balance Sheet |
31 July 2021 |
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2021 | 2020 |
Notes | £ | £ |
CURRENT ASSETS |
Debtors | 4 |
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Cash at bank |
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CREDITORS |
Amounts falling due within one year | 5 |
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NET CURRENT ASSETS/(LIABILITIES) |
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( |
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TOTAL ASSETS LESS CURRENT
LIABILITIES |
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( |
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RESERVES |
Income and expenditure account |
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( |
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( |
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The director acknowledges her 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 surplus or deficit 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. |
Asian Assoc Culture Commerce And |
Education In Europe LBG Limited (Registered number: SC540440) |
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Balance Sheet - continued |
31 July 2021 |
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In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered. |
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The financial statements were approved by the director and authorised for issue on
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Asian Assoc Culture Commerce And |
Education In Europe LBG Limited (Registered number: SC540440) |
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Notes to the Financial Statements |
for the Year Ended 31 July 2021 |
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1. | STATUTORY INFORMATION |
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Asian Assoc Culture Commerce And Education In Europe LBG Limited is a
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2. | ACCOUNTING POLICIES |
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Basis of preparing the financial statements |
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The directors going concern assessment includes the expected impact of COVID-19 to the company for a period of at least 12 months from the date of signing of these financial statements. |
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Turnover and revenue recognition |
Turnover represents sales of events tickets, which is recognised when the company obtains the rights to consideration. |
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Donations are recognised when the company becomes unconditionally entitled to the donation if it is not conditional on the delivery of a specific performance by the company. Where there is specific performance required by the company, the donation is recognised with reference to the company's performance. |
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Government grants are recognised as part of turnover. |
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Government grants |
Grants which relate to revenue are recognised in income in the period the related costs are incurred by the company for which the grant is intended to compensate. For grants which are received by the company for compensation for expenses or losses which have already been incurred, the grant is recognised in income when it is received or receivable. |
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Financial instruments |
The company only has financial assets and financial liabilities of a kind that qualify as basic financial instruments. Basic financial instruments are initially recognised at transaction value and subsequently measured at their settlement value. |
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Taxation |
Taxation for the year comprises current and deferred tax. Tax is recognised in the Income Statement, except to the extent that it relates to items recognised in other comprehensive income or directly in equity. |
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Current or deferred taxation assets and liabilities are not discounted. |
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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. |
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Asian Assoc Culture Commerce And |
Education In Europe LBG Limited (Registered number: SC540440) |
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Notes to the Financial Statements - continued |
for the Year Ended 31 July 2021 |
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2. | ACCOUNTING POLICIES - continued |
Deferred tax |
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date. |
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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. |
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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. |
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3. | EMPLOYEES AND DIRECTORS |
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The average number of employees during the year was NIL (2020 - NIL). |
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4. | DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
2021 | 2020 |
£ | £ |
Other debtors |
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5. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
2021 | 2020 |
£ | £ |
Taxation and social security |
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Other creditors |
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