Company Registration No. 12558573 (England and Wales)
ASTRAEA GROUP LTD
UNAUDITED FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 31 DECEMBER 2020
PAGES FOR FILING WITH REGISTRAR
ASTRAEA GROUP LTD
CONTENTS
Page
Accountants' report
1
Balance sheet
2
Notes to the financial statements
3 - 5
ASTRAEA GROUP LTD
ACCOUNTANTS' REPORT TO THE BOARD OF DIRECTORS ON THE PREPARATION OF THE UNAUDITED STATUTORY FINANCIAL STATEMENTS OF ASTRAEA GROUP LTD FOR THE PERIOD ENDED 31 DECEMBER 2020
- 1 -
In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the financial statements of Astraea Group Ltd for the period ended 31 December 2020 which comprise, the balance sheet and the related notes from the company’s accounting records and from information and explanations you have given us.
As a practising member firm of the Institute of Chartered Accountants in England and Wales (ICAEW), we are subject to its ethical and other professional requirements which are detailed at http://www.icaew.com/en/members/regulations-standards-and-guidance
.
This report is made solely to the Board of Directors of Astraea Group Ltd, as a body, in accordance with the terms of our engagement letter dated 21 October 2020. Our work has been undertaken solely to prepare for your approval the financial statements of Astraea Group Ltd
and state those matters that we have agreed to state to the Board of Directors of Astraea Group Ltd, as a body, in this report in accordance with ICAEW Technical Release 07/16 AAF. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than Astraea Group Ltd and its Board of Directors as a body, for
our work or for this report.
It is your duty to ensure that Astraea Group Ltd has kept adequate accounting records and to prepare statutory financial statements that give a true and fair view of the assets,
liabilities, financial position and profit
of Astraea Group Ltd. You consider that Astraea Group Ltd is exempt from the statutory audit
requirement for the period.
We have not been instructed to carry out an audit or a review of the financial statements of Astraea Group Ltd. For this reason, we have not verified the accuracy or completeness of the
accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory financial statements.
Simpkins Edwards LLP
20 August 2021
Chartered Accountants
Michael House
Castle Street
Exeter
Devon
EX4 3LQ
ASTRAEA GROUP LTD
BALANCE SHEET
AS AT
31 DECEMBER 2020
31 December 2020
- 2 -
2020
Notes
£
£
Fixed assets
Tangible assets
3
6,270
Current assets
Debtors
4
129,467
Cash at bank and in hand
14,709
144,176
Creditors: amounts falling due within one year
5
(130,622)
Net current assets
13,554
Net assets
19,824
Capital and reserves
Called up share capital
100
Profit and loss reserves
19,724
Total equity
19,824
The directors of the company have elected not to include a copy of the profit and loss account within the financial statements.
true
For the financial period ended 31 December 2020 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.
T
he members have not required the company to obtain an audit of its financial statements for the period 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 by the board of directors and authorised for issue on 22 September 2021 and are signed on its behalf by:
Mr J M S Ramsden
Mrs N Stewart
Director
Director
Company Registration No. 12558573
ASTRAEA GROUP LTD
NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 31 DECEMBER 2020
- 3 -
1
Accounting policies
Company information
Astraea Group Ltd is a
private
company
limited by shares
incorporated in England and Wales.
The registered office is
Astraea Group, Interpark House, 7 Down Street, London, W1J 7AJ.
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.
1.2
Turnover
Turnover is recognised at the fair value of the consideration received or receivable for goods and services provided in the normal course of business
, and
is shown net of VAT and other sales related taxes
.
1.3
Tangible fixed assets
Tangible fixed assets
are initially measured at cost and subsequently measured at cost or valuation, net of depreciation and any impairment losses.
Depreciation is recognised so as to write off the cost or valuation of assets less their residual values over their useful lives on the following bases:
Fixtures and fittings
20% straight line basis
Computers
25% straight line basis
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 profit or loss
.
1.4
Taxation
The tax expense represents the sum of the tax currently payable and deferred tax.
Current tax
The tax currently payable is based on taxable profit for the year. Taxable profit differs from net profit as reported in the profit and loss account because it excludes items of income or expense that are taxable or deductible in other years and it further excludes items that are never taxable or deductible. The
company’s
liability for current tax is calculated using tax rates that have been enacted or substantively enacted by the reporting end date.
1.5
Foreign exchange
Transactions in currencies other than pounds sterling are recorded at the rates of exchange prevailing at the dates of the transactions. At each reporting end date, monetary assets and liabilities that are denominated in foreign currencies are retranslated at the rates prevailing on the reporting end date. Gains and losses arising on translation
in the period
are included in profit or loss.
ASTRAEA GROUP LTD
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE PERIOD ENDED 31 DECEMBER 2020
- 4 -
2
Employees
The average monthly number of persons (including directors) employed by the company during the period was:
2020
Number
Total
4
3
Tangible fixed assets
Fixtures and fittings
Computers
Total
£
£
£
Cost
At 16 April 2020
Additions
1,610
5,144
6,754
At 31 December 2020
1,610
5,144
6,754
Depreciation and impairment
At 16 April 2020
Depreciation charged in the period
79
405
484
At 31 December 2020
79
405
484
Carrying amount
At 31 December 2020
1,531
4,739
6,270
4
Debtors
2020
Amounts falling due within one year:
£
Trade debtors
70,133
Other debtors
59,334
129,467
ASTRAEA GROUP LTD
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE PERIOD ENDED 31 DECEMBER 2020
- 5 -
5
Creditors: amounts falling due within one year
2020
£
Trade creditors
64,702
Taxation and social security
3,207
Other creditors
62,713
130,622