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REPORT OF THE DIRECTORS AND

UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 30 JUNE 2023

FOR

ASHFIELD SPRINGS LIMITED

ASHFIELD SPRINGS LIMITED (REGISTERED NUMBER: 01676606)






CONTENTS OF THE FINANCIAL STATEMENTS
for the year ended 30 June 2023




Page

Company Information 1

Report of the Directors 2

Balance Sheet 3

Notes to the Financial Statements 5

Chartered Certified Accountants' Report 8

ASHFIELD SPRINGS LIMITED

COMPANY INFORMATION
for the year ended 30 June 2023







DIRECTORS: T A Smith
B T Smith





SECRETARY: Mrs C A Smith





REGISTERED OFFICE: Nunn Brook Rise
County Industrial Estate
Huthwaite
Nottinghamshire
NG17 2PD





REGISTERED NUMBER: 01676606 (England and Wales)





ACCOUNTANTS: Hewitt Card Limited
Chartered Certified Accountants
70-72 Nottingham Road
Mansfield
Nottinghamshire
NG18 1BN

ASHFIELD SPRINGS LIMITED (REGISTERED NUMBER: 01676606)

REPORT OF THE DIRECTORS
for the year ended 30 June 2023

The directors present their report with the financial statements of the company for the year ended 30 June 2023.

DIRECTORS
The directors shown below have held office during the whole of the period from 1 July 2022 to the date of this report.

T A Smith
B T Smith

This report has been prepared in accordance with the provisions of Part 15 of the Companies Act 2006 relating to small companies.

ON BEHALF OF THE BOARD:





B T Smith - Director


28 November 2023

ASHFIELD SPRINGS LIMITED (REGISTERED NUMBER: 01676606)

BALANCE SHEET
30 June 2023

30.6.23 30.6.22
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 182,853 219,620

CURRENT ASSETS
Stocks 329,381 371,670
Debtors 5 391,638 400,860
Cash at bank and in hand 49,518 35,303
770,537 807,833
CREDITORS
Amounts falling due within one year 6 271,016 258,767
NET CURRENT ASSETS 499,521 549,066
TOTAL ASSETS LESS CURRENT LIABILITIES 682,374 768,686

CREDITORS
Amounts falling due after more than one year 7 (63,379 ) (87,488 )

PROVISIONS FOR LIABILITIES 9 (28,401 ) (32,104 )
NET ASSETS 590,594 649,094

CAPITAL AND RESERVES
Called up share capital 5,300 5,300
Share premium 1,300 1,300
Capital redemption reserve 200 200
Retained earnings 583,794 642,294
590,594 649,094

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30 June 2023.

The members have not required the company to obtain an audit of its financial statements for the year ended 30 June 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.

ASHFIELD SPRINGS LIMITED (REGISTERED NUMBER: 01676606)

BALANCE SHEET - continued
30 June 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 28 November 2023 and were signed on its behalf by:





B T Smith - Director


ASHFIELD SPRINGS LIMITED (REGISTERED NUMBER: 01676606)

NOTES TO THE FINANCIAL STATEMENTS
for the year ended 30 June 2023

1. STATUTORY INFORMATION

Ashfield Springs 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 or, if held under a finance lease, over the lease term, whichever is the shorter.
Plant and machinery - 15% on reducing balance
Fixtures and fittings - 15% on reducing balance
Motor vehicles - 25% on reducing balance
Computer equipment - Straight line over 5 years

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.

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 leasing commitments
Assets obtained under hire purchase contracts or finance leases are capitalised in the balance sheet. Those held under hire purchase contracts are depreciated over their estimated useful lives. Those held under finance leases are depreciated over their estimated useful lives or the lease term, whichever is the shorter.

The interest element of these obligations is charged to profit or loss over the relevant period. The capital element of the future payments is treated as a liability.

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

ASHFIELD SPRINGS LIMITED (REGISTERED NUMBER: 01676606)

NOTES TO THE FINANCIAL STATEMENTS - continued
for the year ended 30 June 2023

2. ACCOUNTING POLICIES - continued

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 20 (2022 - 13 ) .

4. TANGIBLE FIXED ASSETS
Plant and
machinery
etc
£   
COST
At 1 July 2022
and 30 June 2023 1,366,409
DEPRECIATION
At 1 July 2022 1,146,789
Charge for year 36,767
At 30 June 2023 1,183,556
NET BOOK VALUE
At 30 June 2023 182,853
At 30 June 2022 219,620

Fixed assets, included in the above, which are held under hire purchase contracts are as follows:

Plant and
machinery
etc
£   
COST
At 1 July 2022 44,719
Transfer to ownership (6,202 )
At 30 June 2023 38,517
DEPRECIATION
At 1 July 2022 13,347
Charge for year 6,732
Transfer to ownership (1,762 )
At 30 June 2023 18,317
NET BOOK VALUE
At 30 June 2023 20,200
At 30 June 2022 31,372

ASHFIELD SPRINGS LIMITED (REGISTERED NUMBER: 01676606)

NOTES TO THE FINANCIAL STATEMENTS - continued
for the year ended 30 June 2023

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
30.6.23 30.6.22
£    £   
Trade debtors 226,420 204,130
Amounts owed by group undertakings 140,180 170,170
Tax 4,880 4,880
Prepayments 20,158 21,680
391,638 400,860

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
30.6.23 30.6.22
£    £   
Bank loans and overdrafts 20,000 20,000
Hire purchase contracts 4,111 3,508
Trade creditors 109,781 128,489
Tax 10,808 25,715
Social security and other taxes 10,165 15,515
VAT 34,332 9,578
Other creditors 3,261 1,027
Directors' current accounts 34,338 23,238
Accrued expenses 44,220 31,697
271,016 258,767

7. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR
30.6.23 30.6.22
£    £   
Bank loans - 1-2 years 20,000 20,000
Bank loans - 2-5 years 20,000 40,000
Hire purchase contracts 23,379 27,488
63,379 87,488

8. SECURED DEBTS

The following secured debts are included within creditors:

30.6.23 30.6.22
£    £   
Bank loans 60,000 80,000

The bank loan is secured by way of a debenture over the company's assets.

9. PROVISIONS FOR LIABILITIES
30.6.23 30.6.22
£    £   
Deferred tax 28,401 32,104

Deferred
tax
£   
Balance at 1 July 2022 32,104
Provided during year (3,703 )
Balance at 30 June 2023 28,401

CHARTERED CERTIFIED ACCOUNTANTS' REPORT TO THE BOARD OF DIRECTORS
ON THE UNAUDITED FINANCIAL STATEMENTS OF
ASHFIELD SPRINGS LIMITED

The following reproduces the text of the report prepared for the directors in respect of the company's annual unaudited financial statements. In accordance with the Companies Act 2006, the company is only required to file a Balance Sheet. Readers are cautioned that the Income Statement and certain other primary statements and the Report of the Directors are not required to be filed with the Registrar of Companies.

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the financial statements of Ashfield Springs Limited for the year ended 30 June 2023 which comprise the Income Statement, Other Comprehensive Income, Balance Sheet, Statement of Changes in Equity and the related notes from the company's accounting records and from information and explanations you have given us.

As a practising member firm of the Association of Chartered Certified Accountants, we are subject to its ethical and other professional requirements which are detailed at http://www.accaglobal.com/rulebook.

This report is made solely to the Board of Directors of Ashfield Springs Limited, as a body, in accordance with our terms of engagement. Our work has been undertaken solely to prepare for your approval the financial statements of Ashfield Springs Limited and state those matters that we have agreed to state to the Board of Directors of Ashfield Springs Limited, as a body, in this report in accordance with the requirements of the Association of Chartered Certified Accountants as detailed at http://www.accaglobal.com/factsheet163. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than the company and its Board of Directors, as a body, for our work or for this report.

It is your duty to ensure that Ashfield Springs Limited has kept adequate accounting records and to prepare statutory financial statements that give a true and fair view of the assets, liabilities, financial position and profit of Ashfield Springs Limited. You consider that Ashfield Springs Limited is exempt from the statutory audit requirement for the year.

We have not been instructed to carry out an audit or a review of the financial statements of Ashfield Springs Limited. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory financial statements.






Hewitt Card Limited
Chartered Certified Accountants
70-72 Nottingham Road
Mansfield
Nottinghamshire
NG18 1BN


28 November 2023