Ash Addlewell Limited 02947284 false 2022-07-01 2023-03-31 2023-03-31 The principal activity of the company is Sale of cars and light motor vehicles Digita Accounts Production Advanced 6.30.9574.0 false 02947284 2022-07-01 2023-03-31 02947284 2023-03-31 02947284 core:CapitalRedemptionReserve 2023-03-31 02947284 core:OtherReservesSubtotal 2023-03-31 02947284 core:RetainedEarningsAccumulatedLosses 2023-03-31 02947284 core:RevaluationReserve 2023-03-31 02947284 core:ShareCapital 2023-03-31 02947284 core:CurrentFinancialInstruments 2023-03-31 02947284 core:CurrentFinancialInstruments core:WithinOneYear 2023-03-31 02947284 core:Non-currentFinancialInstruments 2023-03-31 02947284 core:Non-currentFinancialInstruments core:AfterOneYear 2023-03-31 02947284 core:OtherRelatedParties 2023-03-31 02947284 1 2023-03-31 02947284 bus:SmallEntities 2022-07-01 2023-03-31 02947284 bus:AuditExemptWithAccountantsReport 2022-07-01 2023-03-31 02947284 bus:FullAccounts 2022-07-01 2023-03-31 02947284 bus:SmallCompaniesRegimeForAccounts 2022-07-01 2023-03-31 02947284 bus:RegisteredOffice 2022-07-01 2023-03-31 02947284 bus:Director3 2022-07-01 2023-03-31 02947284 bus:PrivateLimitedCompanyLtd 2022-07-01 2023-03-31 02947284 core:EntitiesWithJointControlOrSignificantInfluenceOverReportingEntity 2022-07-01 2023-03-31 02947284 core:EntitiesWithJointControlOrSignificantInfluenceOverReportingEntity core:RenderingOrReceivingServices 2022-07-01 2023-03-31 02947284 core:EntitiesWithJointControlOrSignificantInfluenceOverReportingEntity core:SaleOrPurchaseGoods 2022-07-01 2023-03-31 02947284 core:EntitiesWithJointControlOrSignificantInfluenceOverReportingEntity core:SaleOrPurchasePropertyOrOtherAssets 2022-07-01 2023-03-31 02947284 core:OtherRelatedParties 2022-07-01 2023-03-31 02947284 countries:AllCountries 2022-07-01 2023-03-31 02947284 1 2022-07-01 2023-03-31 02947284 2022-06-30 02947284 core:OtherRelatedParties 2022-06-30 02947284 1 2022-06-30 02947284 2021-07-01 2022-06-30 02947284 2022-06-30 02947284 core:CapitalRedemptionReserve 2022-06-30 02947284 core:OtherReservesSubtotal 2022-06-30 02947284 core:RetainedEarningsAccumulatedLosses 2022-06-30 02947284 core:RevaluationReserve 2022-06-30 02947284 core:ShareCapital 2022-06-30 02947284 core:CurrentFinancialInstruments 2022-06-30 02947284 core:CurrentFinancialInstruments core:WithinOneYear 2022-06-30 02947284 core:Non-currentFinancialInstruments 2022-06-30 02947284 core:Non-currentFinancialInstruments core:AfterOneYear 2022-06-30 02947284 core:OtherRelatedParties 2022-06-30 02947284 1 2022-06-30 02947284 core:EntitiesWithJointControlOrSignificantInfluenceOverReportingEntity 2021-07-01 2022-06-30 02947284 core:EntitiesWithJointControlOrSignificantInfluenceOverReportingEntity core:RenderingOrReceivingServices 2021-07-01 2022-06-30 02947284 core:EntitiesWithJointControlOrSignificantInfluenceOverReportingEntity core:SaleOrPurchaseGoods 2021-07-01 2022-06-30 02947284 core:EntitiesWithJointControlOrSignificantInfluenceOverReportingEntity core:SaleOrPurchasePropertyOrOtherAssets 2021-07-01 2022-06-30 02947284 core:OtherRelatedParties 2021-07-01 2022-06-30 02947284 1 2021-07-01 2022-06-30 02947284 core:OtherRelatedParties 2021-06-30 02947284 1 2021-06-30 iso4217:GBP xbrli:pure

Registration number: 02947284

Ash Addlewell Limited

Annual Report and Unaudited Financial Statements

for the Period from 1 July 2022 to 31 March 2023

 

Ash Addlewell Limited

Contents

Balance Sheet

1 to 2

Notes to the Unaudited Financial Statements

3 to 8

 

Ash Addlewell Limited

(Registration number: 02947284)
Balance Sheet as at 31 March 2023

Note

2023
£

2022
£

Fixed assets

 

Investment properties

4

-

720,000

Current assets

 

Debtors

5

214,726

286,362

Cash at bank and in hand

 

637,846

120,916

 

852,572

407,278

Creditors: Amounts falling due within one year

6

(700,762)

(868,798)

Net current assets/(liabilities)

 

151,810

(461,520)

Total assets less current liabilities

 

151,810

258,480

Creditors: Amounts falling due after more than one year

6

-

(30,746)

Net assets

 

151,810

227,734

Capital and reserves

 

Called up share capital

37,500

37,500

Capital redemption reserve

37,500

37,500

Revaluation reserve

-

373,130

Other reserves

54,940

54,940

Profit and loss account

21,870

(275,336)

Total equity

 

151,810

227,734

 

Ash Addlewell Limited

(Registration number: 02947284)
Balance Sheet as at 31 March 2023

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

These financial statements have been prepared in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006.

Director's responsibilities:

The members have not required the company to obtain an audit of its accounts for the period in question in accordance with section 476; and

The director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

These financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime. As permitted by section 444 (5A) of the Companies Act 2006, the director has not delivered to the registrar a copy of the Profit and Loss Account.

Approved and authorised by the director on 22 October 2023.
 

Mr S A Rowe
Director

   
     
 

Ash Addlewell Limited

Notes to the Unaudited Financial Statements for the Period from 1 July 2022 to 31 March 2023

1

General information

The company is a private company limited by share capital, incorporated in England & Wales.

The address of its registered office is:
C/o Milsted Langdon
Winchester House
Deane Gate Avenue
Taunton
Somerset
TA1 2UH
UK

These financial statements were authorised for issue by the director on 22 October 2023.

2

Accounting policies

Summary of significant accounting policies and key accounting estimates

The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.

Statement of compliance

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

Basis of preparation

These financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.

These financial statements are prepared in sterling, which the functional currency of the company, and rounded to the nearest £.

Going concern

Following the disposal of the remaining investment property in the period, the company ceased trading and it will be wound up in due course. Therefore, these accounts have been prepared on a break up basis with assets written down to their recoverable amounts and liabilities provided for in full.

Revenue recognition

Turnover comprises the fair value of the consideration received or receivable for the rental of property and provision of services in the ordinary course of the company’s activities. The rents received are recognised on a straight line basis over the life of the lease.

The company recognises revenue when:
The amount of revenue can be reliably measured;
it is probable that future economic benefits will flow to the entity;
and specific criteria have been met for each of the company's activities.

 

Ash Addlewell Limited

Notes to the Unaudited Financial Statements for the Period from 1 July 2022 to 31 March 2023

Tax

The tax expense for the period comprises current tax. Tax is recognised in profit or loss, except that a change attributable to an item of income or expense recognised as other comprehensive income is also recognised directly in other comprehensive income.

The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the reporting date in the countries where the company operates and generates taxable income.

Investment properties

Investment properties are carried at fair value, derived from the current market prices for comparable real estate determined annually by internal valuers. The valuers use observable market prices, adjusted if necessary for any difference in the nature, location or condition of the specific asset. Changes in fair value are recognised in profit or loss.

Cash and cash equivalents

Cash and cash equivalents comprise cash on hand and call deposits, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value.

Debtors

Trade debtors are amounts due from customers for merchandise sold or services performed in the ordinary course of business.

Trade debtors are recognised initially at the transaction price. They are subsequently measured at amortised cost using the effective interest method, less provision for impairment. A provision for the impairment of trade debtors is established when there is objective evidence that the company will not be able to collect all amounts due according to the original terms of the receivables.

Creditors

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Trade creditors are classified as current liabilities if the company does not have an unconditional right, at the end of the reporting period, to defer settlement of the creditor for at least twelve months after the reporting date. If there is an unconditional right to defer settlement for at least twelve months after the reporting date, they are presented as non-current liabilities.

Trade creditors are recognised initially at the transaction price and subsequently measured at amortised cost using the effective interest method.

Borrowings

Interest-bearing borrowings are initially recorded at fair value, net of transaction costs. Interest-bearing borrowings are subsequently carried at amortised cost, with the difference between the proceeds, net of transaction costs, and the amount due on redemption being recognised as a charge to the profit and loss account over the period of the relevant borrowing.

Interest expense is recognised on the basis of the effective interest method and is included in interest payable and similar charges.

Borrowings are classified as current liabilities unless the company has an unconditional right to defer settlement of the liability for at least twelve months after the reporting date.

 

Ash Addlewell Limited

Notes to the Unaudited Financial Statements for the Period from 1 July 2022 to 31 March 2023

Share capital

Ordinary shares are classified as equity. Equity instruments are measured at the fair value of the cash or other resources received or receivable, net of the direct costs of issuing the equity instruments. If payment is deferred and the time value of money is material, the initial measurement is on a present value basis.

Dividends

A dividend distribution to the company’s shareholders is recognised as a liability in the financial statements in the reporting period in which the dividends are declared.

3

Staff numbers

The average number of persons employed by the company (including the director) during the period was 1 (2022 - 1).

4

Investment properties

2023
£

At 1 July 2021

720,000

Disposals

(720,000)

At 31 March 2022

-

Investment properties with a carrying amount of £nil (2022 - £720,000) have been pledged as security for bank borrowings.

5

Debtors

Note

2023
£

2022
£

Trade debtors

 

-

5,373

Amounts owed by related parties

8

79,297

79,297

Other debtors

 

135,429

201,692

 

214,726

286,362

The carrying amount of debtors pledged as security for liabilities amounted to £Nil (2022 - £286,362).

 

Ash Addlewell Limited

Notes to the Unaudited Financial Statements for the Period from 1 July 2022 to 31 March 2023

6

Creditors

Due within one year

Note

2023
£

2022
£

 

Loans and borrowings

7

-

9,747

Trade creditors

 

139

151,990

Amounts due to related parties

8

670,174

696,390

Social security and other taxes

 

12,250

496

Other creditors

 

96

-

Accruals

 

18,103

10,175

 

700,762

868,798

Due after one year

 

Loans and borrowings

7

-

30,746

Loans and borrowings were secured by way of a fixed charge over property to which they relate, as disclosed in notes 4 and 5. The charges were satisfied in the period upon the sale of the investment property.

7

Loans and borrowings

2023
£

2022
£

Non-current loans and borrowings

Bank loans

-

30,746

2023
£

2022
£

Current loans and borrowings

Bank loans

-

9,747

 

Ash Addlewell Limited

Notes to the Unaudited Financial Statements for the Period from 1 July 2022 to 31 March 2023

8

Related party transactions

Transactions with the former director

2023

At 1 July 2022
£

Repayments by director
£

At 31 March 2023
£

Mr R R Hazell deceased
Director's loan account
 

90,469

(49,500)

40,969

       
     

 

2022

At 1 July 2021
£

Advances to director
£

Repayments by director
£

At 30 June 2022
£

Mr R R Hazell deceased
Director's loan account

503,279

-

(412,810)

90,469

         
       

 

Summary of transactions with entities with joint control or significant interest

A company which was also controlled by the former director.
 

Expenditure with and payables to related parties

2023

Entities with joint control or significant influence
£

At start of period

696,390

Advanced

40,000

Repaid

(66,216)

At end of period

670,174

2022

Entities with joint control or significant influence
£

At start of period

524,229

Advanced

253,433

Repaid

(81,272)

At end of period

696,390

 

Ash Addlewell Limited

Notes to the Unaudited Financial Statements for the Period from 1 July 2022 to 31 March 2023

Summary of transactions with other related parties

Other related parties include a partnership also controlled by the former director.
 

Loans from related parties

2023

Other related parties
£

At start of period

79,297

At end of period

79,297

2022

Other related parties
£

At start of period

66,575

Advanced

15,356

Repaid

(2,634)

At end of period

79,297