ASHRIDGE GROUP LTD
UNAUDITED FINANCIAL STATEMENTS
FOR THE YEAR ENDED
31 AUGUST 2023
Company Registration Number: 08129423
ASHRIDGE GROUP LTD
UNAUDITED FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 AUGUST 2023
CONTENTS PAGES
Company information 1
Balance sheet 2 to 3
Notes to the financial statements 4 to 9
ASHRIDGE GROUP LTD
COMPANY INFORMATION
FOR THE YEAR ENDED 31 AUGUST 2023
DIRECTORS
E L Walker
M S Walker
SECRETARY
The MGroup Secretarial Services Limited
REGISTERED OFFICE
3 Liscombe South
Liscombe Park
Soulbury
Leighton Buzzard
Buckinghamshire
LU7 0JL
COMPANY REGISTRATION NUMBER
08129423 England and Wales
ASHRIDGE GROUP LTD
BALANCE SHEET
AS AT 31 AUGUST 2023
Notes 2023 2022
£ £
FIXED ASSETS
Tangible assets 5 25,014 22,104
Investments 6 100 100
25,114 22,204
CURRENT ASSETS
Debtors 7 466,757 1,005,700
Cash at bank and in hand 473,349 265,642
940,106 1,271,342
CREDITORS: Amounts falling due within one year 8 411,602 657,119
NET CURRENT ASSETS 528,504 614,223
NET ASSETS 553,618 636,427
CAPITAL AND RESERVES
Called up share capital 100 100
Distributable profit and loss account 553,518 636,327
SHAREHOLDERS' FUNDS 553,618 636,427
ASHRIDGE GROUP LTD
BALANCE SHEET
AS AT 31 AUGUST 2023
These accounts have been prepared and delivered in accordance with the special provisions relating to small companies within Part 15 of the Companies Act 2006 and in accordance with the provisions of FRS 102 Section 1A - small entities.
For the financial year ended 31 August 2023 the company was entitled to exemption from audit under section 477 of the Companies Act 2006.
Members have not required the company to obtain an audit in accordance with section 476 of the Act.
The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts.
As permitted by S444 (5A) of the Companies Act 2006 the directors have not delivered to the Registrar a copy of the company’s Profit and Loss Account or Directors Report.
Signed on behalf of the board of directors
E L Walker M S Walker
Director Director
Date approved by the board: 31 January 2024
ASHRIDGE GROUP LTD
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 AUGUST 2023
1 GENERAL INFORMATION
Ashridge Group Ltd is a private company limited by shares and incorporated in England and Wales. Its registered office is:
3 Liscombe South
Liscombe Park
Soulbury
Leighton Buzzard
Buckinghamshire
LU7 0JL
The financial statements are presented in Sterling, which is the functional currency of the company.
2 SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES
Basis of preparation of financial statements
These financial statements have been prepared in accordance with applicable United Kingdom accounting standards, including Financial Reporting Standard 102 Section 1A smaller entities 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' ('FRS 102') and the Companies Act 2006.
Revenue recognition
Turnover is measured at the fair value of consideration received or receivable. It is recognised in respect of private security services as soon as there is a right to consideration and is determined by reference to the value of the work performed. Turnover is stated net of trade discounts and value added tax.
The company recognises revenue when the amount of revenue can be measured reliably and when it is probable that future economic benefits will flow to the entity.
Tangible fixed assets
Fixed assets are carried at cost less accumulated depreciation and accumulated impairment losses.
Depreciation has been provided at the following rate so as to write off the cost or valuation of assets less residual value of the assets over their estimated useful lives.
Plant and machinery Straight line basis at 33% per annum
Motor vehicles Reducing balance basis at 25% per annum
Furniture and fittings Reducing balance basis at 25% per annum
Leasehold improvements Straight line basis at 10% per annum
On disposal, the difference between the net disposal proceeds and the carrying amount of the item sold is recognised in the profit and loss account, and included within administrative expenses.
ASHRIDGE GROUP LTD
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 AUGUST 2023
2 SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (continued…)
Investments
Investments in subsidiaries are shown at cost less accumulated impairment losses.
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, loans from banks and other third parties, loans to related parties and investments in non-puttable ordinary shares.
Financial assets are measured at cost and are assessed at the end of each reporting period for objective evidence of impairment. Where objective evidence of impairment is found, an impairment loss is recognised in the profit and loss account.
The impairment loss for financial assets measured at cost is measured as the difference between an asset's carrying amount and the best estimate, which is an approximation, of the amount that the company would receive for the asset if it were to be sold at the reporting date.
Financial assets and liabilities are offset and the net amount reported in the balance sheet when there is an enforceable right to set off the recognised amount and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously.
Impairment of non-financial assets
At each reporting date non-financial assets not carried at fair value, like goodwill and plant, property and equipment, are reviewed to determine whether there is an indication that an asset may be impaired. If there is an indication of possible impairment, the recoverable amount of any asset or group of related assets (which is the higher of value in use and the fair value less cost to sell) is estimated and compared with its carrying amount. If the recoverable amount is lower, the carrying amount of the asset is reduced to its recoverable amount and an impairment loss is recognised immediately in the profit and loss account.
If an impairment loss is subsequently reversed, the carrying amount of the asset, or group of related assets, is increased to the revised estimate of its recoverable amount, but not to exceed the amount that would have been determined had no impairment loss been recognised for the asset, or group of related assets, in prior periods. A reversal of an impairment loss is recognised immediately in the profit and loss account.
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 subsequently at amortised cost.
ASHRIDGE GROUP LTD
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 AUGUST 2023
2 SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (continued…)
Leases
Leases are classified as finance leases when they transfer substantially all the risks and rewards of ownership of the leased assets to the company. Other leases that do not transfer substantially all the risks and rewards of ownership of the leased assets to the company are classified as operating leases.
Assets held under finance leases are recognised in accordance with the company's policy for tangible fixed assets. The corresponding obligations to lessors under finance leases are treated in the balance sheet as a liability. The assets and liabilities under finance leases are recognised at amounts equal to the fair value of the assets, or if lower, the present value of minimum lease payments, determined at the inception of the lease.
Minimum lease payments are apportioned between finance charges and the reduction in the outstanding liabilities using the effective interest method. The finance charge is allocated to each period during the lease so as to produce a constant rate of interest on the remaining balance of the liabilities. Finance charges are recognised in the profit and loss account.
Payments applicable to operating leases are charged against profit on a straight line basis over the lease term.
Taxation
Taxation expense represents the aggregate amount of current tax and deferred tax recognised in the reporting period.
A current tax liability is recognised for the tax payable on the taxable profit of the current and past periods based on current tax rates and laws. A current tax asset is recognised in respect of a tax loss that can be carried back to recover tax paid in a previous period.
Deferred tax is recognised in respect of all timing differences between the recognition of income and expenses in the financial statements and their inclusion in tax assessments. 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 taxable profits.
Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the reporting date and that are expected to apply to the reversal of the timing difference.
Current and deferred tax assets and liabilities are not discounted.
Pensions
The company operates a defined contribution pension scheme. The amount charged to the profit and loss account in respect of pension costs and other post-retirement benefits is the amount payable in the year. Differences between contributions payable and contributions actually paid in the year are shown as either accruals or prepayments in the balance sheet.
ASHRIDGE GROUP LTD
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 AUGUST 2023
2 SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (continued…)
Research and development
Research and development expenditure has been written off against profits in the year in which it is incurred.
Consolidation
The company is a parent company subject to the small companies regime. The company and its subsidiary comprise a small group. The company has therefore taken advantage of the option provided by section 399 of the Companies Act 2006 not to prepare group accounts.
3 CRITICAL ACCOUNTING ESTIMATES AND JUDGEMENTS
No significant accounting estimates and judgements have had to be made by the directors in preparing these financial statements.
4 EMPLOYEES
The average number of persons employed by the company (including directors) during the year was:
2023 2022
Average number of employees 55 87
ASHRIDGE GROUP LTD
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 AUGUST 2023
5 TANGIBLE ASSETS
Plant and machinery Motor vehicles Furniture and fittings Leasehold improvements Total
£ £ £ £ £
Cost
At 1 September 2022 43,723 42,265 20,118 - 106,106
Additions 685 - 5,229 4,300 10,214
At 31 August 2023 44,408 42,265 25,347 4,300 116,320
Accumulated depreciation and impairments
At 1 September 2022 40,674 29,058 14,270 - 84,002
Charge for year 1,869 3,302 1,918 215 7,304
At 31 August 2023 42,543 32,360 16,188 215 91,306
Net book value
At 1 September 2022 3,049 13,207 5,848 - 22,104
At 31 August 2023 1,865 9,905 9,159 4,085 25,014
6 FIXED ASSET INVESTMENTS
Investment in subsidiary
£
Cost
At 1 September 2022 100
At 31 August 2023 100
Net book value
At 1 September 2022 100
At 31 August 2023 100
7 DEBTORS
2023 2022
£ £
Trade debtors 360,510 562,637
Prepayments and accrued income 12,896 25,204
Other debtors 93,351 417,859
466,757 1,005,700
ASHRIDGE GROUP LTD
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 AUGUST 2023
8 CREDITORS: Amounts falling due within one year
2023 2022
£ £
Bank loans and overdrafts 158,062 221,390
Trade creditors 46,984 99,743
Taxation and social security 93,981 169,264
Accruals and deferred income 82,727 151,279
Other creditors 29,848 15,443
411,602 657,119
9 SECURED DEBTS
The hire purchase contracts and finance leases are secured on the assets concerned.
The company also has a Confidential Invoice Discounting Facility in place with Investec Capital Solutions No.1 Limited. Investec Capital Solutions No.1 Limited holds a fixed and floating charge over the assets of Ashridge Group Ltd.
10 CONTINGENCIES AND COMMITMENTS
Other Commitments
Amounts falling due under operating leases: 2023 2022
£ £
In less than one year 92,327 93,177
In more than one but less than five years 327,078 399,625
419,405 492,802
11 RELATED PARTY TRANSACTIONS
The company has claimed exemptions from reporting disclosure of related party transactions with the following wholly owned group members:
Cognitious Limited Subsidiary
During the year, the following transactions with related parties took place:
2023 2022
£ £
M S & E L Walker - Advances from directors 796 796
The directors have made advances to the company which are repayable on demand. No interest has been charged on these advances. At the year end, the company owed the directors the above amount.
Ashridge Group Ltd 08129423 false 2022-09-01 2023-08-31 2023-08-31 VT Final Accounts (tagged by user) April 2022 true true No description of principal activity 08129423 2021-09-01 2022-08-31 08129423 core:WithinOneYear 2022-08-31 08129423 core:ShareCapital 2022-08-31 08129423 core:RetainedEarningsAccumulatedLosses 2022-08-31 08129423 core:CurrentFinancialInstruments 2022-08-31 08129423 core:WithinOneYear core:PlantEquipmentOtherAssetsUnderOperatingLeases 2022-08-31 08129423 core:BetweenOneFiveYears core:PlantEquipmentOtherAssetsUnderOperatingLeases 2022-08-31 08129423 core:KeyManagementIndividualGroup1 2022-08-31 08129423 2022-09-01 2023-08-31 08129423 bus:PrivateLimitedCompanyLtd 2022-09-01 2023-08-31 08129423 bus:AuditExempt-NoAccountantsReport 2022-09-01 2023-08-31 08129423 bus:Director1 2022-09-01 2023-08-31 08129423 bus:Director2 2022-09-01 2023-08-31 08129423 bus:CompanySecretary1 2022-09-01 2023-08-31 08129423 bus:RegisteredOffice 2022-09-01 2023-08-31 08129423 core:PlantMachinery 2022-09-01 2023-08-31 08129423 core:MotorVehicles 2022-09-01 2023-08-31 08129423 core:FurnitureFittings 2022-09-01 2023-08-31 08129423 core:LeaseholdImprovements 2022-09-01 2023-08-31 08129423 core:Subsidiary1 2022-09-01 2023-08-31 08129423 core:KeyManagementIndividualGroup1 2022-09-01 2023-08-31 08129423 bus:FRS102 2022-09-01 2023-08-31 08129423 bus:FullAccounts 2022-09-01 2023-08-31 08129423 2023-08-31 08129423 core:WithinOneYear 2023-08-31 08129423 core:ShareCapital 2023-08-31 08129423 core:RetainedEarningsAccumulatedLosses 2023-08-31 08129423 core:PlantMachinery 2023-08-31 08129423 core:MotorVehicles 2023-08-31 08129423 core:FurnitureFittings 2023-08-31 08129423 core:LeaseholdImprovements 2023-08-31 08129423 core:CostValuation 2023-08-31 08129423 core:CurrentFinancialInstruments 2023-08-31 08129423 core:WithinOneYear core:PlantEquipmentOtherAssetsUnderOperatingLeases 2023-08-31 08129423 core:BetweenOneFiveYears core:PlantEquipmentOtherAssetsUnderOperatingLeases 2023-08-31 08129423 core:KeyManagementIndividualGroup1 2023-08-31 08129423 2022-08-31 08129423 core:PlantMachinery 2022-08-31 08129423 core:MotorVehicles 2022-08-31 08129423 core:FurnitureFittings 2022-08-31 08129423 core:LeaseholdImprovements 2022-08-31 08129423 core:CostValuation 2022-08-31 iso4217:GBP xbrli:pure