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Registered Number: 10020883
England and Wales

 

 

 


Unaudited Financial Statements

for the year ended 31 December 2019

for

ASK INCLUSIVE FINANCE LIMITED

Director Samantha Bamert
Registered Number 10020883
Registered Office Chester House
1-3 Brixton Road
London
SW9 6DE
Accountants Middlestone Business Analysis Limited
Suite 165, 80 Churchill Square
Kings Hill
WEST MALLING
Kent
ME19 4YU
1
The director presents her report and accounts for the year ended 31 December 2019.
Director
The director who served the company throughout the year was as follows:
Samantha Bamert

Statement of director's responsibilities
The directors are responsible for preparing the directors' report and the financial statements in accordance with applicable law and regulations and in accordance with United Kingdom Generally Accepted Accounting Practice.
Company law requires the directors to prepare financial statements for each financial year. Under that law the directors have elected to prepare the financial statements in accordance with United Kingdom Generally Accepted Accounting Practice (Financial Reporting Standard 102). Under company law the directors must not approve the financial statements unless they are satisfied that they give a true and fair view of the state of affairs of the company and the profit or loss of the company for that period.
In preparing these financial statements, the directors are required to :
  • select suitable accounting policies and then apply them consistently
  • make judgements and accounting estimates that are reasonable and prudent
  • state whether applicable UK Accounting Standards have been followed, subject to any material departures disclosed and explained in the financial statements and
  • prepare the financial statements on the going concern basis unless it is inappropriate to presume that the company will continue in business.
The directors are responsible for keeping adequate accounting records that are sufficient to show and explain the company’s transactions and disclose with reasonable accuracy at any time the financial position of the company and enable them to ensure that the financial statements comply with the Companies Act 2006. They are also responsible for safeguarding the assets of the company and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.
The directors are responsible for the maintenance and integrity of the corporate and financial information included on the company's website. Legislation in the United Kingdom, governing the preparation and dissemination of financial statements, may differ from legislation in other jurisdictions
Small company provisions
This report has been prepared in accordance with the provisions applicable to companies entitled to the small companies exemption.

On behalf of the board.


----------------------------------
Samantha Bamert
Director

Date approved: 10 June 2020
2
In order to assist you to fulfil your duties under Companies Act 2006, we have prepared for your approval the accounts of Ask Inclusive Finance Limited for the year ended 31 December 2019 which comprise the Statement of Comprehensive Income, the Statement of Financial Position and related notes from the company's accounting records and from information and explanations you have given us.

As a practising member of the Association of Chartered Certified Accountants, we are subject to its ethical and other professional requirements which are detailed at http://rulebook.accaglobal.com.

This report is made solely to the members of Ask Inclusive Finance Limited, as a body, in accordance with the terms of our engagement letter dated 9 September 2018. Our work has been undertaken solely to prepare for your approval the accounts of Ask Inclusive Finance Limited and state those matters that we have agreed to state to the Board of Ask Inclusive Finance Limited, as a body, in this report in accordance with the requirements of the Association of Chartered Certified Accountants and as detailed at http://www.accaglobal.com/factsheet163. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than Ask Inclusive Finance Limited and its members as a body for our work or for this report.

It is your duty to ensure that Ask Inclusive Finance Limited has kept adequate accounting records and to prepare statutory accounts that give a true and fair view of the assets, liabilities, financial position and Loss of Ask Inclusive Finance Limited. You consider that Ask Inclusive Finance Limited is exempt from the statutory audit requirement for the year.

We have not been instructed to carry out an audit or a review of the accounts of Ask Inclusive Finance Limited. 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 accounts.



....................................................
Middlestone Business Analysis Limited
Suite 165, 80 Churchill Square
Kings Hill
WEST MALLING
Kent
ME19 4YU
10 June 2020
3
 
 
Notes
 
2019
£
  2018
£
Fixed assets      
Tangible fixed assets 2 2,922    2,349 
2,922    2,349 
Current assets      
Debtors: amounts falling due within one year 3 124,403    141,009 
Debtors: amounts falling due after one year 4 34,648    5,963 
Cash at bank and in hand 44,699    29,252 
203,750    176,224 
Creditors: amount falling due within one year 5 (90,270)   (72,561)
Net current assets 113,480    103,663 
 
Total assets less current liabilities 116,402    106,012 
Creditors: amount falling due after more than one year 6 (1,591,601)   (817,529)
Provisions for liabilities 7   (1,133)
Net assets (1,475,199)   (712,650)
 

Capital and reserves
     
Called up share capital 8 5,000    5,000 
Reserves 9 33,397   
Profit and loss account (1,513,596)   (717,650)
Shareholders funds (1,475,199)   (712,650)
 


For the year ended 31 December 2019 the company was entitled to exemption from audit under Section 477 of the Companies Act 2006 relating to small companies.

Director's responsibilities:
  1. The members have not required the company to obtain an audit of its accounts for the year in question in accordance with Section 476
  2. The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts
These accounts have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime and in accordance with the provisions of Part 15 of the Companies Act 2006. In accordance with Section 444 of the Companies Act 2006, the income statement has not been delivered to the Registrar of Companies.
The financial statements were approved by the director on 10 June 2020 and were signed by:


--------------------------------
Samantha Bamert
Director
4
General Information
Ask Inclusive Finance Limited is a private company, limited by shares, registered in England and Wales, registration number 10020883, registered office address Chester House, 1-3 Brixton Road, London, SW9 6DE.

The presentation currency is Pound Sterling.
1.

Accounting policies

Statement of compliance
These financial statements have been prepared in compliance with Section 1A of FRS 102 The Financial Reporting Standard applicable in the UK and Republic of Ireland and the Companies Act 2006.

Basis of preparation

The financial statements have been prepared on the going concern basis and under the historical cost convention as modified by the revaluation of land and buildings and certain financial instruments measured at fair value in accordance with the accounting policies.

The financial statements are prepared in sterling which is the functional currency of the company.
Going concern basis
The directors believe that the company is experiencing good levels of sales growth and profitability, and that it is well placed to manage its business risks successfully. Accordingly, they have a reasonable expectation that the company has adequate resources to continue in operational existence for the foreseeable future. Thus they continue to adopt the going concern basis of accounting in preparing the financial statements.
Turnover
Turnover comprises the invoiced value of goods and services supplied by the company, net of Value Added Tax and trade discounts.
Operating lease rentals
Rentals payable under operating leases are charged against income on a straight line basis over the lease term.
Research and development expenditure
Research and development expenditure is charged to the income statement in the period in which it is incurred.
Website cost
Planning and operating costs for the company's website are charged to the income statement as incurred.
Foreign currencies
Monetary assets and liabilities denominated in foreign currencies are translated into sterling at the rate of exchange ruling at the statement of financial position date. Transactions in foreign currencies are recorded at the rate ruling at the date of the transaction. All foreign exchange differences are included to the income statement.
Deferred taxation
Deferred tax balances are recognised in respect of all timing differences between the treatment of items for taxation and accounting purposes. Deferred income tax is determined using the tax rates and laws that have been enacted or substantively enacted by the reporting date. The deferred tax balance has not been discounted.
Tangible fixed assets
Tangible fixed assets, other than freehold land, are stated at cost or valuation less depreciation and any provision for impairment. Depreciation is provided at rates calculated to write off the cost or valuation of fixed assets, less their estimated residual value, over their expected useful lives on the following basis:
Computer Equipment 2 years Straight Line
Provisions
Provisions are recognised when the company has a present obligation as a result of a past event which it is more probable than not will result in an outflow of economic benefits that can be reasonably estimated.
2.

Tangible fixed assets

Cost Computer Equipment   Total
  £   £
At 01 January 2019 5,598    5,598 
Additions 3,448    3,448 
Disposals  
At 31 December 2019 9,046    9,046 
Depreciation
At 01 January 2019 3,249    3,249 
Charge for year 2,875    2,875 
On disposals  
At 31 December 2019 6,124    6,124 
Net book values
Closing balance as at 31 December 2019 2,922    2,922 
Opening balance as at 01 January 2019 2,349    2,349 


3.

Debtors: amounts falling due within one year

2019
£
  2018
£
Trade Debtors 3,600    7,200 
Prepayments & Accrued Income 29,861    4,409 
Other Debtors 5,000    5,000 
Corporation Tax 73,617    113,345 
VAT 12,325    11,055 
124,403    141,009 

4.

Debtors: amounts falling due after one year

2019
£
  2018
£
Amount Owed by Group Undertakings 28,685   
Deposits paid 5,963    5,963 
34,648    5,963 

5.

Creditors: amount falling due within one year

2019
£
  2018
£
Trade Creditors 15,549    24,761 
PAYE & Social Security 15,977    17,699 
Accrued Expenses 29,837    1,597 
Deferred Income 4,000    4,000 
Pensions 1,281    878 
Directors' Current Accounts 23,626    23,626 
90,270    72,561 

6.

Creditors: amount falling due after more than one year

2019
£
  2018
£
Amounts Owed to Group Undertakings 1,591,601    817,529 
1,591,601    817,529 

7.

Provisions for liabilities

2019
£
  2018
£
Deferred Tax   1,133 
  1,133 

8.

Share Capital

Allotted
2019
£
  2018
£
5,000 Class A shares of £1.00 each 5,000    5,000 
5,000    5,000 

9.

Reserves

2019
£
  2018
£
Equity-Settled Share-Based Payments in Year 33,397   
33,397   
Share option reserve

The Share Option Reserve represents the value of share options granted to the company's employees by the company's parent, Ask Inclusive Finance Group Holding Limited. In accordance with section 26 of FRS 102 and FRS 2, this has been recognised as an additional equity contribution.

10.

Average number of employees

The average number of employees during the year was 7 (2018: 4)


11.

Related parties

During the year the company entered into the following transactions with related parties:
Balance owed by/
(owed to)
2019
£
  2018
£
Ask Inclusive Finance Group Holding Limited (1,591,601)   (817,529)
Ask Inclusive Finance Services Limited 28,685   
Mrs Samantha Bamert (23,626)   (23,625)

Ask Inclusive Finance Group Holding Limited

Ask Inclusive Finance Group Holding Limited is the company's immediate parent. During the year, Ask Inclusive Finance Group Holding Limited made a loan to the company.

Ask Inclusive Finance Services Limited

Ask Inclusive Finance Services Limited is a wholly-owned subsidiary of Ask Inclusive Finance Group Holding Limited. During the year the company made a loan to Ask Inclusive Finance Services Limited.

Mrs Samantha Bamert

Mrs Samantha Bamert is a director of the company and group shareholder. Mrs Bamert made a loan to the company.

12.

Parent undertaking

The company is a wholly-owned subsidiary of Ask Inclusive Finance Group Holding Limited, a private company, limited by shares, registered in England and Wales, registration number 09340342, registered office address Chester House, 1-3 Brixton Road, London, SW9 6DE.

13.

Ultimate controlling party

The ultimate controlling party is director and group shareholder, Mrs Samantha Bamert.
5