Ash Lane Developments Limited 12158595 false 2022-09-01 2023-08-31 2023-08-31 The principal activity of the company is the development of building projects Digita Accounts Production Advanced 6.30.9574.0 true true 12158595 2022-09-01 2023-08-31 12158595 2023-08-31 12158595 bus:OrdinaryShareClass1 2023-08-31 12158595 core:RetainedEarningsAccumulatedLosses 2023-08-31 12158595 core:ShareCapital 2023-08-31 12158595 core:CurrentFinancialInstruments 2023-08-31 12158595 core:CurrentFinancialInstruments core:WithinOneYear 2023-08-31 12158595 core:Non-currentFinancialInstruments 2023-08-31 12158595 core:Non-currentFinancialInstruments core:AfterOneYear 2023-08-31 12158595 core:FurnitureFittingsToolsEquipment 2023-08-31 12158595 core:MotorVehicles 2023-08-31 12158595 bus:SmallEntities 2022-09-01 2023-08-31 12158595 bus:AuditExemptWithAccountantsReport 2022-09-01 2023-08-31 12158595 bus:FullAccounts 2022-09-01 2023-08-31 12158595 bus:SmallCompaniesRegimeForAccounts 2022-09-01 2023-08-31 12158595 bus:RegisteredOffice 2022-09-01 2023-08-31 12158595 bus:Director1 2022-09-01 2023-08-31 12158595 bus:Director2 2022-09-01 2023-08-31 12158595 bus:Director3 2022-09-01 2023-08-31 12158595 bus:Director4 2022-09-01 2023-08-31 12158595 bus:OrdinaryShareClass1 2022-09-01 2023-08-31 12158595 bus:PrivateLimitedCompanyLtd 2022-09-01 2023-08-31 12158595 bus:Agent1 2022-09-01 2023-08-31 12158595 core:RetainedEarningsAccumulatedLosses 2022-09-01 2023-08-31 12158595 core:ShareCapital 2022-09-01 2023-08-31 12158595 core:FurnitureFittingsToolsEquipment 2022-09-01 2023-08-31 12158595 core:MotorVehicles 2022-09-01 2023-08-31 12158595 countries:England 2022-09-01 2023-08-31 12158595 2022-08-31 12158595 core:RetainedEarningsAccumulatedLosses 2022-08-31 12158595 core:ShareCapital 2022-08-31 12158595 core:FurnitureFittingsToolsEquipment 2022-08-31 12158595 core:MotorVehicles 2022-08-31 12158595 2021-09-01 2022-08-31 12158595 2022-08-31 12158595 bus:OrdinaryShareClass1 2022-08-31 12158595 core:CurrentFinancialInstruments 2022-08-31 12158595 core:CurrentFinancialInstruments core:WithinOneYear 2022-08-31 12158595 core:Non-currentFinancialInstruments 2022-08-31 12158595 core:Non-currentFinancialInstruments core:AfterOneYear 2022-08-31 12158595 core:FurnitureFittingsToolsEquipment 2022-08-31 12158595 core:MotorVehicles 2022-08-31 12158595 core:RetainedEarningsAccumulatedLosses 2021-09-01 2022-08-31 12158595 core:ShareCapital 2021-09-01 2022-08-31 12158595 2021-08-31 12158595 core:RetainedEarningsAccumulatedLosses 2021-08-31 12158595 core:ShareCapital 2021-08-31 iso4217:GBP xbrli:pure xbrli:shares

Registration number: 12158595

Ash Lane Developments Limited

Annual Report and Unaudited Financial Statements

for the Year Ended 31 August 2023

 

Ash Lane Developments Limited

Contents

Company Information

1

Directors' Report

2

Accountants' Report

3

Profit and Loss Account

4

Statement of Comprehensive Income

5

Balance Sheet

6

Statement of Changes in Equity

7

Notes to the Unaudited Financial Statements

8 to 12

 

Ash Lane Developments Limited

Company Information

Directors

Paul Edward Allaway

Harry Allaway

Joanne Margaret Allaway

Liberty Florence Allaway

Registered office

Unit 1 Limber Road
Lufton Trading Estate
Yeovil
Somerset
BA22 8RR

Accountants

Whites
Chartered Accountants
Suite9 Yeovil Innovation Centre
Copse Road
Yeovil
Somerset
BA22 8RN

 

Ash Lane Developments Limited

Directors' Report for the Year Ended 31 August 2023

The directors present their report and the financial statements for the year ended 31 August 2023.

Directors of the company

The directors who held office during the year were as follows:

Paul Edward Allaway

Harry Allaway

Joanne Margaret Allaway

Liberty Florence Allaway

Principal activity

The principal activity of the company is the development of building projects

Small companies provision statement

This report has been prepared in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006.

Approved by the Board on 31 July 2024 and signed on its behalf by:

.........................................
Paul Edward Allaway
Director

   
     
 

Chartered Accountants' Report to the Board of Directors on the Preparation of the Unaudited Statutory Accounts of
Ash Lane Developments Limited
for the Year Ended 31 August 2023

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the accounts of Ash Lane Developments Limited for the year ended 31 August 2023 as set out on pages 4 to 12 from the company's accounting records and from information and explanations you have given us.

As a practising member firm of the Institute of Chartered Accountants in England and Wales (ICAEW), we are subject to its ethical and other professional requirements which are detailed at
http://www.icaew.com/regulation.

This report is made solely to the Board of Directors of Ash Lane Developments Limited, as a body, in accordance with the terms of our engagement letter dated 12 December 2023. Our work has been undertaken solely to prepare for your approval the accounts of Ash Lane Developments Limited and state those matters that we have agreed to state to the Board of Directors of Ash Lane Developments Limited, as a body, in this report in accordance with ICAEW Technical Release 07/16 AAF. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than Ash Lane Developments Limited and its Board of Directors as a body for our work or for this report.

It is your duty to ensure that Ash Lane Developments Limited has kept adequate accounting records and to prepare statutory accounts that give a true and fair view of the assets, liabilities, financial position and loss of Ash Lane Developments Limited. You consider that Ash Lane Developments Limited is exempt from the statutory audit requirement for the year.

We have not been instructed to carry out an audit or a review of the accounts of Ash Lane Developments Limited. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory accounts.

......................................

Whites
Chartered Accountants
Suite9 Yeovil Innovation Centre
Copse Road
Yeovil
Somerset
BA22 8RN

31 July 2024

 

Ash Lane Developments Limited

Profit and Loss Account for the Year Ended 31 August 2023

Note

2023
£

2022
£

Turnover

 

639,211

40,196

Cost of sales

 

(763,360)

(71,522)

Gross loss

 

(124,149)

(31,326)

Administrative expenses

 

(5,209)

(29,434)

Operating loss

 

(129,358)

(60,760)

Interest payable and similar expenses

 

(32,627)

(1,000)

Loss before tax

4

(161,985)

(61,760)

Tax on loss

 

15,341

7,299

Loss for the financial year

 

(146,644)

(54,461)

The above results were derived from continuing operations.

The company has no recognised gains or losses for the year other than the results above.

 

Ash Lane Developments Limited

Statement of Comprehensive Income for the Year Ended 31 August 2023

2023
£

2022
£

Loss for the year

(146,644)

(54,461)

Total comprehensive income for the year

(146,644)

(54,461)

 

Ash Lane Developments Limited

(Registration number: 12158595)
Balance Sheet as at 31 August 2023

Note

2023
£

2022
£

Fixed assets

 

Tangible assets

5

35,103

86,623

Current assets

 

Stocks

6

984,246

475,650

Debtors

7

16,377

25,687

Cash at bank and in hand

 

106,282

234,693

 

1,106,905

736,030

Creditors: Amounts falling due within one year

8

(224,294)

(212,602)

Net current assets

 

882,611

523,428

Total assets less current liabilities

 

917,714

610,051

Creditors: Amounts falling due after more than one year

8

(496,793)

(27,500)

Provisions for liabilities

(6,670)

(21,656)

Net assets

 

414,251

560,895

Capital and reserves

 

Called up share capital

9

100

100

Retained earnings

414,151

560,795

Shareholders' funds

 

414,251

560,895

For the financial year ending 31 August 2023 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Directors' responsibilities:

The members have not required the company to obtain an audit of its accounts for the year in question in accordance with section 476; and

The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

These financial statements have been prepared in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006.

Approved and authorised by the Board on 31 July 2024 and signed on its behalf by:
 

.........................................
Paul Edward Allaway
Director

   
     
 

Ash Lane Developments Limited

Statement of Changes in Equity for the Year Ended 31 August 2023

Share capital
£

Retained earnings
£

Total
£

At 1 September 2022

100

560,795

560,895

Loss for the year

-

(146,644)

(146,644)

At 31 August 2023

100

414,151

414,251

Share capital
£

Retained earnings
£

Total
£

At 1 September 2021

100

615,256

615,356

Loss for the year

-

(54,461)

(54,461)

At 31 August 2022

100

560,795

560,895

 

Ash Lane Developments Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 August 2023

1

General information

The company is a private company limited by share capital, incorporated in England.

The address of its registered office is:
Unit 1 Limber Road
Lufton Trading Estate
Yeovil
Somerset
BA22 8RR
England

These financial statements were authorised for issue by the Board on 31 July 2024.

2

Accounting policies

Summary of significant accounting policies and key accounting estimates

The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.

Statement of compliance

The financial statements have been prepared under the historical cost convention and in accordance with FRS 105 'The Financial Reporting Standard applicable to the Micro-entities Regime'.

Basis of preparation

These financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.

Going concern

The financial statements have been prepared on a going concern basis.

Revenue recognition

Turnover comprises the fair value of the consideration received or receivable for the sale of goods and provision of services in the ordinary course of the company’s activities. Turnover is shown net of sales/value added tax, returns, rebates and discounts.

The company recognises revenue when:
The amount of revenue can be reliably measured;
it is probable that future economic benefits will flow to the entity;
and specific criteria have been met for each of the company's activities.

Tax

The tax expense for the period comprises deferred tax. Tax is recognised in profit or loss, except that a change attributable to an item of income or expense recognised as other comprehensive income is also recognised directly in other comprehensive income.

The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the reporting date in the countries where the company operates and generates taxable income.

 

Ash Lane Developments Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 August 2023

Deferred tax is recognised in respect of all timing differences between taxable profits and profits reported in the financial statements.

Unrelieved tax losses and other deferred tax assets are recognised when 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.

Tangible assets

Tangible assets are stated in the balance sheet at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.

The cost of tangible assets includes directly attributable incremental costs incurred in their acquisition and installation.

Depreciation

Depreciation is charged so as to write off the cost of assets, other than land and properties under construction over their estimated useful lives, as follows:

Cash and cash equivalents

Cash and cash equivalents comprise cash on hand and call deposits, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value.

Trade debtors

Trade debtors are amounts due from customers for merchandise sold or services performed in the ordinary course of business.

Trade debtors are recognised initially at the transaction price. They are subsequently measured at amortised cost using the effective interest method, less provision for impairment. A provision for the impairment of trade debtors is established when there is objective evidence that the company will not be able to collect all amounts due according to the original terms of the receivables.

Stocks

Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell. Cost is determined using the first-in, first-out (FIFO) method.

The cost of finished goods and work in progress comprises direct materials and, where applicable, direct labour costs and those overheads that have been incurred in bringing the inventories to their present location and condition. At each reporting date, stocks are assessed for impairment. If stocks are impaired, the carrying amount is reduced to its selling price less costs to complete and sell; the impairment loss is recognised immediately in profit or loss.

 

Ash Lane Developments Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 August 2023

Trade creditors

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Accounts payable are classified as current liabilities if the company does not have an unconditional right, at the end of the reporting period, to defer settlement of the creditor for at least twelve months after the reporting date. If there is an unconditional right to defer settlement for at least twelve months after the reporting date, they are presented as non-current liabilities.

Trade creditors are recognised initially at the transaction price and subsequently measured at amortised cost using the effective interest method.

Borrowings

Interest-bearing borrowings are initially recorded at fair value, net of transaction costs. Interest-bearing borrowings are subsequently carried at amortised cost, with the difference between the proceeds, net of transaction costs, and the amount due on redemption being recognised as a charge to the profit and loss account over the period of the relevant borrowing.

Interest expense is recognised on the basis of the effective interest method and is included in interest payable and similar charges.

Borrowings are classified as current liabilities unless the company has an unconditional right to defer settlement of the liability for at least twelve months after the reporting date.

Share capital

Ordinary shares are classified as equity. Equity instruments are measured at the fair value of the cash or other resources received or receivable, net of the direct costs of issuing the equity instruments. If payment is deferred and the time value of money is material, the initial measurement is on a present value basis.

3

Staff numbers

The average number of persons employed by the company (including directors) during the year, was 4 (2022 - 4).

4

Loss before tax

Arrived at after charging/(crediting)

2023
£

2022
£

Depreciation expense

8,009

24,394

 

Ash Lane Developments Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 August 2023

5

Tangible assets

Furniture, fittings and equipment
 £

Motor vehicles
 £

Total
£

Cost or valuation

At 1 September 2022

73,096

55,250

128,346

Additions

4,100

15,750

19,850

Disposals

(33,280)

(45,050)

(78,330)

At 31 August 2023

43,916

25,950

69,866

Depreciation

At 1 September 2022

19,397

22,327

41,724

Charge for the year

5,272

2,737

8,009

Eliminated on disposal

(7,645)

(7,325)

(14,970)

At 31 August 2023

17,024

17,739

34,763

Carrying amount

At 31 August 2023

26,892

8,211

35,103

At 31 August 2022

53,699

32,924

86,623

6

Stocks

2023
£

2022
£

Work in progress

984,246

475,304

Other inventories

-

346

984,246

475,650

7

Debtors

Current

2023
£

2022
£

Trade debtors

6,720

18,968

Other debtors

9,657

6,719

 

16,377

25,687

8

Creditors

Creditors: amounts falling due within one year

 

Ash Lane Developments Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 August 2023

Note

2023
£

2022
£

Due within one year

 

Loans and borrowings

10

21,462

10,000

Trade creditors

 

4,309

5,812

Other creditors

 

198,523

196,790

 

224,294

212,602

Creditors: amounts falling due after more than one year

Note

2023
£

2022
£

Due after one year

 

Loans and borrowings

10

496,793

27,500

9

Share capital

Allotted, called up and fully paid shares

 

2023

2022

 

No.

£

No.

£

Ordinary of £1 each

100

100

100

100

         

10

Loans and borrowings

2023
£

2022
£

Non-current loans and borrowings

Bank borrowings

496,793

27,500

2023
£

2022
£

Current loans and borrowings

Bank borrowings

21,462

10,000