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COMPANY REGISTRATION NUMBER: 08698026
Ashfield Promotions Limited
Filleted Unaudited Financial Statements
30 September 2023
Ashfield Promotions Limited
Financial Statements
Year ended 30 September 2023
Contents
Pages
Officers and professional advisers
1
Statement of financial position
2 to 3
Notes to the financial statements
4 to 6
Ashfield Promotions Limited
Officers and Professional Advisers
Director Mr P J Rowley
- Director
Registered office
Shoulder of Mutton
Blackwell Road
Huthwaite
Nottinghamshire
NG17 2RG
Accountants
Gregory Priestley & Stewart
Chartered Accountants
Alexandra House
123 Priestsic Road
Sutton in Ashfield
Nottinghamshire
NG17 4EA
Ashfield Promotions Limited
Statement of Financial Position
30 September 2023
2023
2022
Note
£
£
Fixed assets
Tangible assets
4
104
134
Current assets
Stocks
750
Debtors
5
7,038
7,051
Cash at bank and in hand
707
-------
-------
7,745
7,801
Creditors: amounts falling due within one year
6
7,603
6,891
-------
-------
Net current assets
142
910
----
-------
Total assets less current liabilities
246
1,044
----
-------
Net assets
246
1,044
----
-------
Capital and reserves
Capital redemption reserve
2
2
Profit and loss account
244
1,042
----
-------
Shareholders funds
246
1,044
----
-------
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 statement of income and retained earnings has not been delivered.
For the year ending 30 September 2023 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
Director's 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 director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements .
Ashfield Promotions Limited
Statement of Financial Position (continued)
30 September 2023
These financial statements were approved by the board of directors and authorised for issue on 8 April 2024 , and are signed on behalf of the board by:
Mr P J Rowley
Director
Company registration number: 08698026
Ashfield Promotions Limited
Notes to the Financial Statements
Year ended 30 September 2023
1. General information
The company is a private company limited by shares, registered in England and Wales. The address of the registered office is Shoulder of Mutton, Blackwell Road, Huthwaite, Nottinghamshire, NG17 2RG.
2. Statement of compliance
These financial statements have been prepared in compliance with Section 1A of FRS 102, 'The Financial Reporting Standard applicable in the UK and the 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 measured at fair value through profit or loss. The financial statements are prepared in sterling, which is the functional currency of the entity.
Revenue recognition
Turnover is measured at the fair value of the consideration received or receivable and represents amounts receivable for goods supplied and services rendered, stated net of discounts and of Value Added Tax.
Taxation
The taxation expense represents the aggregate amount of current and deferred tax recognised in the reporting period. Tax is recognised in profit or loss, except to the extent that it relates to items recognised in other comprehensive income or directly in equity. In this case, tax is recognised in other comprehensive income or directly in equity, 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.
Tangible assets
Tangible assets are initially recorded at cost, and subsequently stated at cost less any accumulated depreciation and impairment losses. Any tangible assets carried at revalued amounts are recorded at the fair value at the date of revaluation less any subsequent accumulated depreciation and subsequent accumulated impairment losses.
Depreciation
Depreciation is calculated so as to write off the cost or valuation of an asset, less its residual value, over the useful economic life of that asset as follows:
Plant and machinery
-
25% straight line
Stocks
Stocks are measured at the lower of cost and estimated selling price less costs to complete and sell. Cost includes all costs of purchase, costs of conversion and other costs incurred in bringing the stock to its present location and condition.
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 debtors and creditors, loans from banks and other third parties.
Debtors and creditors
Short term debtors are measured at transaction price, less any impairment. Loans receivable are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method, less any impairment.
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 are measured subsequently at amortised cost using the effective interest method.
4. Tangible assets
Plant and machinery
£
Cost
At 1 October 2022
948
Additions
139
-------
At 30 September 2023
1,087
-------
Depreciation
At 1 October 2022
814
Charge for the year
169
-------
At 30 September 2023
983
-------
Carrying amount
At 30 September 2023
104
-------
At 30 September 2022
134
-------
5. Debtors
2023
2022
£
£
Amounts owed by undertakings in which the company has a participating interest
7,038
7,038
Other debtors
13
-------
-------
7,038
7,051
-------
-------
6. Creditors: amounts falling due within one year
2023
2022
£
£
Bank loans and overdrafts
259
Trade creditors
1,259
Social security and other taxes
1,238
673
Other creditors
6,365
4,700
-------
-------
7,603
6,891
-------
-------
7. Director's advances, credits and guarantees
At the balance sheet date, the directors were owed £3,024 (2022: £1,359) by the company .