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Company registration number: 08594251
Ashbee Developments Ltd
Unaudited filleted financial statements
31 March 2023
Ashbee Developments Ltd
Contents
Balance sheet
Statement of changes in equity
Notes to the financial statements
Ashbee Developments Ltd
Balance sheet
31 March 2023
2023 2022
Note £ £ £ £
Current assets
Debtors 4 2,025 2,196
Cash at bank and in hand 60,504 98,993
_______ _______
62,529 101,189
Creditors: amounts falling due
within one year 5 ( 23,039) ( 24,839)
_______ _______
Net current assets 39,490 76,350
_______ _______
Total assets less current liabilities 39,490 76,350
Creditors: amounts falling due
after more than one year 6 ( 23,282) ( 29,250)
_______ _______
Net assets 16,208 47,100
_______ _______
Capital and reserves
Called up share capital 7 50 100
Capital redemption reserve 50 -
Profit and loss account 16,108 47,000
_______ _______
Shareholders funds 16,208 47,100
_______ _______
For the year ending 31 March 2023 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
Directors responsibilities:
- The members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476;
- The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements.
These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with Section 1A of FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.
In accordance with section 444 of the Companies Act 2006, the Profit and Loss Account has not been delivered.
These financial statements were approved by the board of directors and authorised for issue on 15 June 2023 , and are signed on behalf of the board by:
..................................... .....................................
Mr D.N. Ashbee Mr N.H. Ashbee
Director Director
Company registration number: 08594251
Ashbee Developments Ltd
Statement of changes in equity
Year ended 31 March 2023
Called up share capital Capital redemption reserve Profit and loss account Total
£ £ £ £
At 1 April 2021 100 - 56,487 56,587
Loss for the year ( 9,487) ( 9,487)
_______ _______ _______ _______
Total comprehensive income for the year - - ( 9,487) ( 9,487)
_______ _______ _______ _______
At 31 March 2022 and 1 April 2022 100 - 47,000 47,100
Loss for the year ( 1,642) ( 1,642)
_______ _______ _______ _______
Total comprehensive income for the year - - ( 1,642) ( 1,642)
Dividends paid and payable ( 18,000) ( 18,000)
Cancellation of subscribed capital - 50 ( 11,250) ( 11,200)
Redemption of shares ( 50) - - ( 50)
_______ _______ _______ _______
Total investments by and distributions to owners ( 50) 50 ( 29,250) ( 29,250)
_______ _______ _______ _______
At 31 March 2023 50 50 16,108 16,208
_______ _______ _______ _______
Ashbee Developments Ltd
Notes to the financial statements
Year ended 31 March 2023
1. General information
The company is a private company limited by shares, registered in the UK. The address of the registered office is Clifton House, Four Elms Road, Cardiff, CF24 1LE.
2. Statement of compliance
These financial statements have been prepared in compliance with the provisions of FRS 102, Section 1A, 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.
3. Accounting policies
Basis of preparation
The financial statements have been prepared on the historical cost basis, as modified by the revaluation of certain financial assets and liabilities and investment properties measured at fair value through profit or loss.
The financial statements are prepared in sterling, which is the functional currency of the entity.
Taxation
The taxation expense represents the aggregate amount of current and deferred tax recognised in the reporting period. Tax is recognised in the statement of comprehensive income, except to the extent that it relates to items recognised in other comprehensive income or directly in capital and reserves. In this case, tax is recognised in other comprehensive income or directly in capital and reserves, respectively. Current tax is recognised on taxable profit for the current and past periods. Current tax is measured at the amounts of tax expected to pay or recover using the tax rates and laws that have been enacted or substantively enacted at the reporting date.
Deferred tax is recognised in respect of all timing differences at the reporting date. Unrelieved tax losses and other deferred tax assets are recognised to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date that are expected to apply to the reversal of the timing difference.
Financial instruments
All of the company's financial instruments are considered to be basic in nature, and are generally recognised at transaction price, unless otherwise specified.
4. Debtors
2023 2022
£ £
Other debtors 2,025 2,196
_______ _______
5. Creditors: amounts falling due within one year
2023 2022
£ £
Bank loans and overdrafts 9,000 9,000
Accruals and deferred income 600 400
Director loan accounts 13,439 439
Other creditors - 15,000
_______ _______
23,039 24,839
_______ _______
6. Creditors: amounts falling due after more than one year
2023 2022
£ £
Bank loans and overdrafts 23,282 29,250
_______ _______
7. Called up share capital
Issued, called up and fully paid
2023 2022
No £ No £
Ordinary shares of £ 1.00 each 50 50 100 100
_______ _______ _______ _______
Share movements
No £
Ordinary :
At 1 April 2022 100 100
Shares cancelled 50 50
_______ _______
At 31 March 2023 50 50
_______ _______
8. Controlling party
The company is controlled by the director Mr D.N. Ashbee , who holds 50% of the issued share capital, since 27th October 2022.