ASHLEY CONSTRUCTION LIMITED

Company Registration Number:
07521924 (England and Wales)

Unaudited statutory accounts for the year ended 31 March 2023

Period of accounts

Start date: 01 April 2022

End date: 31 March 2023

ASHLEY CONSTRUCTION LIMITED

Contents of the Financial Statements

for the Period Ended 31 March 2023

Company Information - 3
Balance sheet - 4
Additional notes - 6
Balance sheet notes - 9

ASHLEY CONSTRUCTION LIMITED

Company Information

for the Period Ended 31 March 2023




Registered office: Ashley House
Inn Lane
Hartlebury
Kidderminster
Worcestershire
DY11 7TA
Company Registration Number: 07521924 (England and Wales)

ASHLEY CONSTRUCTION LIMITED

Balance sheet

As at 31 March 2023


Notes

2023
£

2022
£
Fixed assets
Intangible assets: 4 0 0
Tangible assets: 5 15,785 18,976
Total fixed assets: 15,785 18,976
Current assets
Debtors: 6 79,326 89,436
Cash at bank and in hand: 234,021 49,847
Total current assets: 313,347 139,283
Creditors: amounts falling due within one year: 7 ( 83,941 ) ( 39,666 )
Net current assets (liabilities): 229,406 99,617
Total assets less current liabilities: 245,191 118,593
Total net assets (liabilities): 245,191 118,593

The notes form part of these financial statements

ASHLEY CONSTRUCTION LIMITED

Balance sheet continued

As at 31 March 2023


Notes

2023
£

2022
£
Capital and reserves
Called up share capital: 100 100
Profit and loss account: 245,091 118,493
Shareholders funds: 245,191 118,593

For the year ending 31 March 2023 the company was entitled to exemption under section 477 of the Companies Act 2006 relating to small companies.

The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for complying with the requirements of the Act 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.

This report was approved by the board of directors on 1 October 2023
And Signed On Behalf Of The Board By:

Name: P Lawrence
Status: Director

The notes form part of these financial statements

ASHLEY CONSTRUCTION LIMITED

Notes to the Financial Statements

for the Period Ended 31 March 2023

  • 1. Accounting policies

    Basis of measurement and preparation

    These financial statements have been prepared in accordance with the provisions of Section 1A (Small Entities) of Financial Reporting Standard 102

    Turnover policy

    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. The fair value of consideration takes into account trade discounts, settlement discounts and volume rebates.

    When cash inflows are deferred and represent a financing arrangement, the fair value of the consideration is the present value of the future receipts. The fifference between the fair value of the consideration and the normal amount received is recognised as interest income.

    Revenue from the sale of goods is recognised when the significant risks and rewards of ownership of the goods have passed to the buyer (usually on dispatch of the goods), the amount of revenue can be measured reliably, it is probable that the economic benefits associated with the transaction will flow to the entity and the costs incurred or to be incurred in respect of the transaction can be measured reliably.

    Tangible fixed assets depreciation policy

    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 economic lives on the following bases:

    Fixtures and fittings - 25% on cost
    Motor vehicles - 25% on reducing balance

    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 profit or loss.

    Intangible fixed assets amortisation policy

    Goodwill, being the amount paid in connection with the acquisition of a business in 2011, is being amortised evenly over its estimated useful life of ten years.

ASHLEY CONSTRUCTION LIMITED

Notes to the Financial Statements

for the Period Ended 31 March 2023

  • 2. Employees


    2023

    2022
    Average number of employees during the period 1 1

ASHLEY CONSTRUCTION LIMITED

Notes to the Financial Statements

for the Period Ended 31 March 2023

  • 3. Off balance sheet disclosure

    No

ASHLEY CONSTRUCTION LIMITED

Notes to the Financial Statements

for the Period Ended 31 March 2023

4. Intangible assets

Goodwill Total
Cost £ £
At 01 April 2022 10,000 10,000
Additions - -
Disposals - -
Revaluations - -
Transfers - -
At 31 March 2023 10,000 10,000
Amortisation
Amortisation at 01 April 2022 10,000 10,000
Charge for year - -
On disposals - -
Other adjustments - -
Amortisation at 31 March 2023 10,000 10,000
Net book value
Net book value at 31 March 2023 0 0
Net book value at 31 March 2022 0 0

Goodwill, being the amount paid in connection with the acquisition of a business in 2011, is being amortised evenly over its estimated useful life of ten years.

ASHLEY CONSTRUCTION LIMITED

Notes to the Financial Statements

for the Period Ended 31 March 2023

5. Tangible assets

Fixtures & fittings Motor vehicles Total
Cost £ £ £
At 01 April 2022 23,802 18,669 42,471
Additions 3,413 - 3,413
Disposals - - -
Revaluations - - -
Transfers - - -
At 31 March 2023 27,215 18,669 45,884
Depreciation
At 01 April 2022 9,688 13,807 23,495
Charge for year 5,559 1,045 6,604
On disposals - - -
Other adjustments - - -
At 31 March 2023 15,247 14,852 30,099
Net book value
At 31 March 2023 11,968 3,817 15,785
At 31 March 2022 14,114 4,862 18,976

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 economic lives on the following bases:

Fixtures and fittings - 25% on cost
Motor vehicles - 25% on reducing balance

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 profit or loss.

ASHLEY CONSTRUCTION LIMITED

Notes to the Financial Statements

for the Period Ended 31 March 2023

6. Debtors


2023
£

2022
£
Trade debtors 60,569 70,768
Prepayments and accrued income 589 500
Other debtors 18,168 18,168
Total 79,326 89,436

ASHLEY CONSTRUCTION LIMITED

Notes to the Financial Statements

for the Period Ended 31 March 2023

7.Creditors: amounts falling due within one year note


2023
£

2022
£
Trade creditors 3,247 14,046
Taxation and social security 47,586 4,593
Other creditors 33,108 21,027
Total 83,941 39,666