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REGISTERED NUMBER: 00874811 (England and Wales)















UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31ST MARCH 2023

FOR

ASCOTEX LIMITED

ASCOTEX LIMITED (REGISTERED NUMBER: 00874811)

CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31ST MARCH 2023










Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


ASCOTEX LIMITED

COMPANY INFORMATION
FOR THE YEAR ENDED 31ST MARCH 2023







DIRECTORS: J A A Ashworth
C H V Grant





REGISTERED OFFICE: Unit 3
Valley Forge Business Park
Reedyford Road
Nelson
Lancashire
BB9 8TU





REGISTERED NUMBER: 00874811 (England and Wales)





ACCOUNTANTS: Ainsworths Limited
Charter House
Stansfield Street
Nelson
Lancashire
BB9 9XY

ASCOTEX LIMITED (REGISTERED NUMBER: 00874811)

BALANCE SHEET
31ST MARCH 2023

31.3.23 31.3.22
Notes £    £    £    £   
FIXED ASSETS
Intangible assets 4 - -
Tangible assets 5 74,028 85,249
74,028 85,249

CURRENT ASSETS
Stocks 431,610 333,175
Debtors 6 401,391 378,650
Cash at bank and in hand 1,404,217 1,524,138
2,237,218 2,235,963
CREDITORS
Amounts falling due within one year 7 265,644 351,212
NET CURRENT ASSETS 1,971,574 1,884,751
TOTAL ASSETS LESS CURRENT
LIABILITIES

2,045,602

1,970,000

PROVISIONS FOR LIABILITIES 12,378 11,135
NET ASSETS 2,033,224 1,958,865

CAPITAL AND RESERVES
Called up share capital 950 950
Retained earnings 2,032,274 1,957,915
SHAREHOLDERS' FUNDS 2,033,224 1,958,865

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31st March 2023.

The members have not required the company to obtain an audit of its financial statements for the year ended 31st March 2023 in accordance with Section 476 of the Companies Act 2006.

The directors acknowledge their 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.

ASCOTEX LIMITED (REGISTERED NUMBER: 00874811)

BALANCE SHEET - continued
31ST MARCH 2023


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

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

The financial statements were approved by the Board of Directors and authorised for issue on 15th August 2023 and were signed on its behalf by:





J A A Ashworth - Director


ASCOTEX LIMITED (REGISTERED NUMBER: 00874811)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31ST MARCH 2023


1. STATUTORY INFORMATION

Ascotex 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.

Goodwill
Goodwill, being the amount paid in connection with the acquisition of a business in 2012, has been fully amortised.

Intangible assets
Intangible assets are initially measured at cost. After initial recognition, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Long leasehold - 10% on cost
Improvements to property - 10% on cost
Fixtures and fittings - 10% - 20% on reducing balance
Motor vehicles - 25% on reducing balance

Stocks
Stocks and work in progress are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.

Cost is calculated using the first-in, first-out method and includes all purchase, transport, and handling costs in bringing stocks to their present location and condition.

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.


ASCOTEX LIMITED (REGISTERED NUMBER: 00874811)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31ST MARCH 2023


2. ACCOUNTING POLICIES - continued
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.

Foreign currencies
Assets and liabilities in foreign currencies are translated into sterling at the rates of exchange ruling at the balance sheet date. Transactions in foreign currencies are translated into sterling at the rate of exchange ruling at the date of transaction. Exchange differences are taken into account in arriving at the operating result.

Hire purchase and leasing commitments
Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease.

Pension costs and other post-retirement benefits
The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 6 (2022 - 6 ) .

4. INTANGIBLE FIXED ASSETS
Goodwill
£   
COST
At 1st April 2022
and 31st March 2023 4,400
AMORTISATION
At 1st April 2022
and 31st March 2023 4,400
NET BOOK VALUE
At 31st March 2023 -
At 31st March 2022 -

ASCOTEX LIMITED (REGISTERED NUMBER: 00874811)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31ST MARCH 2023


5. TANGIBLE FIXED ASSETS
Improvements Fixtures
Long to and Motor
leasehold property fittings vehicles Totals
£    £    £    £    £   
COST
At 1st April 2022 24,783 80,724 221,176 22,005 348,688
Additions - - 458 - 458
Disposals - - (80 ) - (80 )
At 31st March 2023 24,783 80,724 221,554 22,005 349,066
DEPRECIATION
At 1st April 2022 24,783 24,219 193,592 20,845 263,439
Charge for year - 8,073 3,316 290 11,679
Eliminated on disposal - - (80 ) - (80 )
At 31st March 2023 24,783 32,292 196,828 21,135 275,038
NET BOOK VALUE
At 31st March 2023 - 48,432 24,726 870 74,028
At 31st March 2022 - 56,505 27,584 1,160 85,249

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.3.23 31.3.22
£    £   
Trade debtors 371,751 348,540
Amounts owed by group undertakings 15,325 15,325
Other debtors 14,315 14,785
401,391 378,650

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.3.23 31.3.22
£    £   
Trade creditors 125,289 219,614
Taxation and social security 120,754 115,253
Other creditors 19,601 16,345
265,644 351,212

8. ULTIMATE PARENT COMPANY

The ultimate parent company is Furoshiki Limited, whose registered office address is Unit 3, Valley Forge Business Park, Reedyford Road, Nelson, Lancashire, BB9 8TU.