2022-04-012023-03-312023-03-31false10685103Ashdownjones The Lakes 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Ashdownjones The Lakes Limited

Registered Number
10685103
(England and Wales)

Unaudited Financial Statements for the Year ended
31 March 2023

Ashdownjones The Lakes Limited
Company Information
for the year from 1 April 2022 to 31 March 2023

Directors

ASHDOWN Samantha Jayne
JONES Phil

Registered Address

1c Low Cleabarrow Business Centre
Windermere
LA23 3ND

Registered Number

10685103 (England and Wales)
Ashdownjones The Lakes Limited
Statement of Financial Position
31 March 2023

Notes

2023

2022

£

£

£

£

Fixed assets
Tangible assets625,895108,381
25,895108,381
Current assets
Debtors7499,579311,205
Cash at bank and on hand31,54187,097
531,120398,302
Creditors amounts falling due within one year8(246,228)(245,611)
Net current assets (liabilities)284,892152,691
Total assets less current liabilities310,787261,072
Creditors amounts falling due after one year9(21,667)(31,667)
Provisions for liabilities10(4,900)(7,100)
Net assets284,220222,305
Capital and reserves
Called up share capital1,0001,000
Profit and loss account283,220221,305
Shareholders' funds284,220222,305
The financial statements were approved and authorised for issue by the Board of Directors on 18 March 2024, and are signed on its behalf by:
ASHDOWN Samantha Jayne
Director
JONES Phil
Director

Registered Company No. 10685103
Ashdownjones The Lakes Limited
Notes to the Financial Statements
for the year ended 31 March 2023

1.Statutory information
The company is a private company limited by shares and registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.
2.Smallest group in which results are consolidated
As part of a small group, this company is exempt from producing group accounts. These accounts are for this company alone. This company's parent undertaking is The AJ Group Windermere Ltd, a company registered in England and Wales, company number 12933410.
3.Basis of measurement used in financial statements
The financial statements have been prepared under the historical cost convention on a going concern basis unless otherwise specified within these accounting policies and in accordance with Section 1A of Financial Reporting Standard 102, the Financial Reporting Standard applicable in the UK and the Republic of Ireland and the Companies Act 2006.
4.Accounting policies
Functional and presentation currency policy
The financial statements are presented in sterling and this is the functional currency of the company.
Turnover policy
Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover includes revenue earned from the sale of goods and/or the rendering of services. Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs.
Property, plant and equipment policy
Tangible fixed assets are stated at cost or valuation less depreciation. The assets’; residual values, useful lives and depreciation methods are reviewed and adjusted prospectively if appropriate, or if there is an indication of a significant change since the last reporting date. Gains and losses on disposal are determined by comparing the proceeds with the carrying amount and are recognised in the Income Statement. Depreciation is provided on all tangible fixed assets as follows:
Taxation policy
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 policy
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 future taxable profits. Deferred tax is measured using the 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, except for revalued land and investment property where the tax rate that applies to the sale of the asset is used. Current and deferred tax assets and liabilities are not discounted.
Government grants and other government assistance policy
Grants are accounted under the accruals model as permitted by FRS 102. Grants relating to expenditure on tangible fixed assets are credited to profit or loss at the same rate as the depreciation on the assets to which the grant relates. The deferred element of grants is included in creditors as deferred income. Grants of a revenue nature are recognised in the Income Statement in the same period as the related expenditure.
Employee benefits policy
The company operates a defined contribution plan for its employees. A defined contribution plan is a pension plan under which the company pays fixed contributions into a separate entity. Once the contributions have been paid the company has no further obligation. Contributions to defined contribution plans are expensed in the period to which they relate. Amounts not paid are shown in accruals in the Statement of financial position. The assets of the plan are held separately from the company in independently administered funds.
Valuation of financial instruments policy
The Company enters into basic financial instrument transactions that result in the recognition of financial assets and liabilities like trade and other debtors and creditors, loans from banks and other third parties, loans to related parties and investments in ordinary shares.
5.Employee information

20232022
Average number of employees during the year1414
6.Property, plant and equipment

Plant & machinery

Vehicles

Office Equipment

Total

££££
Cost or valuation
At 01 April 2271,37541,54817,195130,118
Additions--734734
Disposals(71,375)--(71,375)
At 31 March 23-41,54817,92959,477
Depreciation and impairment
At 01 April 2259412,2778,86621,737
Charge for year-7,3185,12112,439
On disposals(594)--(594)
At 31 March 23-19,59513,98733,582
Net book value
At 31 March 23-21,9533,94225,895
At 31 March 2270,78129,2718,329108,381
7.Debtors

2023

2022

££
Trade debtors / trade receivables42,030-
Amounts owed by group undertakings452,968258,735
Amounts owed by associates and joint ventures / participating interests-49,950
Prepayments and accrued income4,5812,520
Total499,579311,205
Short term debtors are measured at transaction price (which is usually the invoice price), less any impairment losses for bad and doubtful debts. Loans and other financial assets are initially recognised at transaction price including any transaction costs and subsequently measured at amortised cost determined using the effective interest method, less any impairment losses for bad and doubtful debts.
8.Creditors within one year

2023

2022

££
Trade creditors / trade payables7,13150,704
Bank borrowings and overdrafts10,00010,000
Amounts owed to related parties170,36390,101
Taxation and social security54,82975,225
Other creditors975730
Accrued liabilities and deferred income2,93018,851
Total246,228245,611
Short term creditors are measured at transaction price (which is usually the invoice price). Loans and other financial liabilities are initially recognised at transaction price net of any transaction costs and subsequently measured at amortised cost determined using the effective interest method. Bank Borrowings and Overdrafts represents Government Bounce Back loan which is unsecured.
9.Creditors after one year

2023

2022

££
Bank borrowings and overdrafts21,66731,667
Total21,66731,667
Bank Borrowings and Overdraft represents the government Bounce Back Loan which is unsecured.
10.Provisions for liabilities

2023

2022

££
Net deferred tax liability (asset)4,9007,100
Total4,9007,100