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REGISTERED NUMBER: 00196387 (England and Wales)










FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31ST OCTOBER 2022

FOR

ASHTON ENGINEERING COMPANY LIMITED

ASHTON ENGINEERING COMPANY LIMITED (REGISTERED NUMBER: 00196387)

CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31ST OCTOBER 2022










Page

Company Information 1

Abridged Balance Sheet 2

Notes to the Financial Statements 4


ASHTON ENGINEERING COMPANY LIMITED

COMPANY INFORMATION
FOR THE YEAR ENDED 31ST OCTOBER 2022







DIRECTOR: Mr A T Belcher



REGISTERED OFFICE: 20 Floodgate Street
Digbeth
BIRMINGHAM
B5 5SS



REGISTERED NUMBER: 00196387 (England and Wales)



ACCOUNTANTS: Michael Heaven & Associates Limited
Chartered Certified Accountants
47 Calthorpe Road
Edgbaston
BIRMINGHAM
B15 1TH



BANKERS: HSBC Bank PLC
130 New Street
Birmingham
West Midlands
B2 4JU



INCORPORATED: 14th March 1924

ASHTON ENGINEERING COMPANY LIMITED (REGISTERED NUMBER: 00196387)

ABRIDGED BALANCE SHEET
31ST OCTOBER 2022

2022 2021
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 19,347 19,725

CURRENT ASSETS
Stocks 29,402 16,069
Debtors 84,022 81,490
Cash at bank and in hand 3,487 11,003
116,911 108,562
CREDITORS
Amounts falling due within one year 67,295 65,216
NET CURRENT ASSETS 49,616 43,346
TOTAL ASSETS LESS CURRENT
LIABILITIES

68,963

63,071

CREDITORS
Amounts falling due after more than one
year

(6,343

)

-

PROVISIONS FOR LIABILITIES 6 (3,676 ) -
NET ASSETS 58,944 63,071

CAPITAL AND RESERVES
Called up share capital 7 58,756 58,756
Share premium 150 150
Retained earnings 38 4,165
SHAREHOLDERS' FUNDS 58,944 63,071

ASHTON ENGINEERING COMPANY LIMITED (REGISTERED NUMBER: 00196387)

ABRIDGED BALANCE SHEET - continued
31ST OCTOBER 2022


The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31st October 2022.

The members have not required the company to obtain an audit of its financial statements for the year ended 31st October 2022 in accordance with Section 476 of the Companies Act 2006.

The director acknowledges his 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 profit or loss 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.

The financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

All the members have consented to the preparation of an abridged Income Statement and an abridged Balance Sheet for the year ended 31st October 2022 in accordance with Section 444(2A) of the Companies Act 2006.

In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered.

The financial statements were approved by the director and authorised for issue on 26th October 2023 and were signed by:





Mr A T Belcher - Director


ASHTON ENGINEERING COMPANY LIMITED (REGISTERED NUMBER: 00196387)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31ST OCTOBER 2022


1. STATUTORY INFORMATION

Ashton Engineering Company Limited is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.

2. ACCOUNTING POLICIES

Basis of preparing the financial statements
These financial statements have been prepared in accordance with Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" including the provisions of Section 1A "Small Entities" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.

Turnover
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life:

Plant and machinery - 25% on reducing balance
Fixtures and fittings - 10% on reducing balance
Motor vehicles - 25% on reducing balance
Computer equipment - 33% on straight line
Freehold property - not depreciated as residual value is higher than net book value

Stocks
Stock is valued at the lower of cost and net realisable value. Cost is determined on a first in first out basis. Net realisable value represents estimated selling price less costs to complete and sell. Provision is made for slow moving, obsolete or damaged stock where the net realisable value is less than cost.

Financial instruments
The company only enters into basic financial instruments transactions that result in the recognition of financial assets and liabilities like trade and other accounts receivable and payable and loans from related parties.


ASHTON ENGINEERING COMPANY LIMITED (REGISTERED NUMBER: 00196387)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31ST OCTOBER 2022


2. ACCOUNTING POLICIES - continued
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.

Current or deferred taxation assets and liabilities are not discounted.

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.

Deferred tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date.

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.

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.

Hire purchase and finance lease agreements
A lease is classified as a finance lease if it transfers substantially all the risks and rewards incidental to ownership. All other leases are classified as operating leases. The rights of use and obligations under finance leases are initially recognised as assets and liabilities at amounts equal to the fair value of the leased assets or, if lower, the present value of the minimum lease payments. Minimum lease payments are apportioned between the finance charge and the reduction in the outstanding liability using the effective interest rate method. The finance charge is allocated to each period during the lease so as to produce a constant periodic rate of interest on the remaining balance of the liability. Leased assets are depreciated in accordance with the company's policy for tangible fixed assets. If there is no reasonable certainty that ownership will be obtained at the end of the lease term, the asset is depreciated over the lower of the lease term and its useful life.
Operating lease payments are recognised as an expense on a straight line basis over the lease term.

Debtors
Short term debtors are measured at transaction price, less any impairment.

Creditors
Short term trade creditors are measured at the transaction price. Other financial liabilities, including bank loans, are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method.

ASHTON ENGINEERING COMPANY LIMITED (REGISTERED NUMBER: 00196387)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31ST OCTOBER 2022


3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 3 (2021 - 3 ) .

4. TANGIBLE FIXED ASSETS
Totals
£   
COST
At 1st November 2021
and 31st October 2022 93,091
DEPRECIATION
At 1st November 2021 73,366
Charge for year 378
At 31st October 2022 73,744
NET BOOK VALUE
At 31st October 2022 19,347
At 31st October 2021 19,725


5. LOANS

An analysis of the maturity of loans is given below:

2022 2021
£    £   
Amounts falling due within one year or on demand:
Bank loans 2,359 -

Amounts falling due between one and two years:
Bank loans 2,367 -

Amounts falling due between two and five years:
Bank loans 3,976 -

ASHTON ENGINEERING COMPANY LIMITED (REGISTERED NUMBER: 00196387)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31ST OCTOBER 2022


6. PROVISIONS FOR LIABILITIES
2022 2021
£    £   
Deferred tax 3,676 -

Deferred
tax
£   
Provided during year 3,676
Balance at 31st October 2022 3,676

Provisions are recognised when the company has a legal or constructive obligation at the reporting date as a result of a past event, it is probable that the company will be required to settle the obligation and the amount of the obligation can be reliably estimated. Provisions are recognised at the best estimate of the amount required to settle the obligation at the reporting date.

A provision for annual leave accrued by employees as a result of services rendered in the current period, and which employees are entitled to carry forward and use within the next 12 months is recognised. The provision is measured at the salary cost payable for the period of absence.

7. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 2022 2021
value: £    £   
22,589 Ordinary £1 22,589 22,589
36,167 Ordinary A £1 36,167 36,167
58,756 58,756

ASHTON ENGINEERING COMPANY LIMITED (REGISTERED NUMBER: 00196387)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31ST OCTOBER 2022


8. DIRECTOR'S ADVANCES, CREDITS AND GUARANTEES

The following advances and credits to a director subsisted during the years ended 31st October 2022 and 31st October 2021:

2022 2021
£    £   
Mr A T Belcher
Balance outstanding at start of year 27,080 46,828
Amounts advanced 43,551 30,086
Amounts repaid (36,770 ) (49,834 )
Amounts written off - -
Amounts waived - -
Balance outstanding at end of year 33,861 27,080