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Registered number: 07469495
Ashfords Interiors Limited
Financial Statements
For The Year Ended 31 March 2024
William Price & Co Limited
Chartered Accountants
Westbury Court Church Road
Westbury On Trym
Bristol
BS9 3EF
Contents
Page
Balance Sheet 1—2
Notes to the Financial Statements 3—4
Page 1
Balance Sheet
Registered number: 07469495
2024 2023
Notes £ £ £ £
FIXED ASSETS
Tangible Assets 4 1,597 2,041
1,597 2,041
CURRENT ASSETS
Debtors 5 339 9,998
Cash at bank and in hand 35,370 22,210
35,709 32,208
Creditors: Amounts Falling Due Within One Year 6 (42,974 ) (42,815 )
NET CURRENT ASSETS (LIABILITIES) (7,265 ) (10,607 )
TOTAL ASSETS LESS CURRENT LIABILITIES (5,668 ) (8,566 )
NET LIABILITIES (5,668 ) (8,566 )
CAPITAL AND RESERVES
Called up share capital 7 2 2
Profit and Loss Account (5,670 ) (8,568 )
SHAREHOLDERS' FUNDS (5,668) (8,566)
Page 1
Page 2
For the year ending 31 March 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
These accounts have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime.
The company has taken advantage of section 444(1) of the Companies Act 2006 and opted not to deliver to the registrar a copy of the company's Profit and Loss Account.
On behalf of the board
Mrs D Ashford
Director
30 April 2024
The notes on pages 3 to 4 form part of these financial statements.
Page 2
Page 3
Notes to the Financial Statements
1. General Information
Ashfords Interiors Limited is a private company, limited by shares, incorporated in England & Wales, registered number 07469495 . The registered office is 34 High Street, Westbury-On-Trym, Bristol, BS9 3DZ.
2. Accounting Policies
2.1. Basis of Preparation of Financial Statements
The financial statements have been prepared under the historical cost convention and in accordance with Financial Reporting Standard 102 section 1A Small Entities "The Financial Reporting Standard applicable in the UK and Republic of Ireland" and the Companies Act 2006.
2.2. Turnover
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 from the rendering of services. Turnover is reduced for estimated customer returns, rebates and other similar allowances.
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. Turnover is only recognised to the extent of recoverable expenses when the outcome of a contract cannot be estimated reliably.
2.3. Tangible Fixed Assets and Depreciation
Tangible fixed assets are measured at cost less accumulated depreciation and any accumulated impairment losses. Depreciation is provided at rates calculated to write off the cost of the fixed assets, less their estimated residual value, over their expected useful lives on the following bases:
Plant & Machinery 7 years straight line depreciation
Motor Vehicles 5 years straight line depreciation
Fixtures & Fittings 3 years straight line depreciatio
2.4. Taxation
Income tax expense represents the sum of the tax currently payable tax.
The tax currently payable is based on taxable profit for the year. Taxable profit differs from profit as reported in the statement of comprehensive income because of items of income or expense that are taxable or deductible in other years and items that are never taxable or deductible. The company's liability for current tax is calculated using tax rates that have been enacted or substantively enacted by the end of the reporting period.
Current tax for the year is recognised in profit or loss, except when they related to items that are recognised in other comprehensive income or directly in equity, in which case, the current tax is also recognised in other comprehensive income or directly in equity respectively.
3. Average Number of Employees
Average number of employees, including directors, during the year was: 2 (2023: 2)
2 2
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4. Tangible Assets
Plant & Machinery Motor Vehicles Fixtures & Fittings Total
£ £ £ £
Cost
As at 1 April 2023 3,618 42,344 - 45,962
Additions - - 164 164
As at 31 March 2024 3,618 42,344 164 46,126
Depreciation
As at 1 April 2023 3,451 40,470 - 43,921
Provided during the period 84 469 55 608
As at 31 March 2024 3,535 40,939 55 44,529
Net Book Value
As at 31 March 2024 83 1,405 109 1,597
As at 1 April 2023 167 1,874 - 2,041
5. Debtors
2024 2023
£ £
Due within one year
Trade debtors - 9,966
Other debtors - 32
VAT 339 -
339 9,998
6. Creditors: Amounts Falling Due Within One Year
2024 2023
£ £
Trade creditors 109 628
Corporation tax 651 -
VAT - 960
Other creditors 41,084 39,977
Accruals and deferred income 1,130 1,250
42,974 42,815
7. Share Capital
2024 2023
£ £
Allotted, Called up and fully paid 2 2
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