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JOHN ASHLEY MOTORS LIMITED
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NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 SEPTEMBER 2023
John Ashley Motors Limited is a private company, limited by shares, incorporated in England in the United Kingdom. The address of the registered office is 6th Floor, 2 London Wall Place, London, EC2Y 5AU.
2.Accounting policies
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Basis of preparation of financial statements
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The financial statements have been prepared under the historical cost convention 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.
The preparation of financial statements in compliance with FRS 102 requires the use of certain critical accounting estimates. It also requires management to exercise judgment in applying the Company's accounting policies.
The Company’s functional and presentational currency is GBP, rounded to the nearest £1.
The financial statements have been prepared on a going concern basis. As at the date of this report, the directors conclude that there is no material uncertainty and that they can continue to adopt the going concern basis in preparing the annual report and accounts.
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Cash and cash equivalents
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Cash is represented by cash in hand and deposits with financial institutions repayable without penalty on notice of not more than 24 hours. Cash equivalents are highly liquid investments that mature in no more than three months from the date of acquisition and that are readily convertible to known amounts of cash with insignificant risk of change in value.
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The average monthly number of employees, including directors, during the year was 2 (2022 - 3).
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Amounts owed by joint ventures and associated undertakings
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Cash and cash equivalents
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