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REGISTERED NUMBER: 13201651 (England and Wales)















UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2024

FOR

ASHCROFTS ACCOUNTANTS LIMITED

ASHCROFTS ACCOUNTANTS LIMITED (REGISTERED NUMBER: 13201651)

CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024










Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


ASHCROFTS ACCOUNTANTS LIMITED

COMPANY INFORMATION
FOR THE YEAR ENDED 31 MARCH 2024







DIRECTOR: A D Patel





REGISTERED OFFICE: 2 Cedargove
Hagley
Stourbridge
West Midlands
DY9 0DR





REGISTERED NUMBER: 13201651 (England and Wales)





ACCOUNTANTS: Ashcrofts Accountants Limited
2 Cedargrove
Hagley
Stourbridge
West Midlands
DY9 0DR

ASHCROFTS ACCOUNTANTS LIMITED (REGISTERED NUMBER: 13201651)

BALANCE SHEET
31 MARCH 2024

2024 2023
Notes £    £   
FIXED ASSETS
Intangible assets 4 121,359 128,497
Tangible assets 5 4,533 5,666
125,892 134,163

CURRENT ASSETS
Debtors 6 34,958 5,561
Cash at bank 18,804 36,118
53,762 41,679
CREDITORS
Amounts falling due within one year 7 (156,442 ) (164,471 )
NET CURRENT LIABILITIES (102,680 ) (122,792 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

23,212

11,371

PROVISIONS FOR LIABILITIES 8 (1,133 ) (1,077 )
NET ASSETS 22,079 10,294

CAPITAL AND RESERVES
Called up share capital 100 100
Retained earnings 9 21,979 10,194
22,079 10,294

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 March 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 March 2024 in accordance with Section 476 of the Companies Act 2006.

The director acknowledges his responsibilities for:
(a)ensuring that the company keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006 and
(b)preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of each financial year and of its profit or loss for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the company.

ASHCROFTS ACCOUNTANTS LIMITED (REGISTERED NUMBER: 13201651)

BALANCE SHEET - continued
31 MARCH 2024


The financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered.

The financial statements were approved by the director and authorised for issue on 10 August 2024 and were signed by:





A D Patel - Director


ASHCROFTS ACCOUNTANTS LIMITED (REGISTERED NUMBER: 13201651)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024


1. STATUTORY INFORMATION

Ashcrofts Accountants Limited is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.

2. ACCOUNTING POLICIES

Basis of preparing the financial statements
These financial statements have been prepared in accordance with Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" including the provisions of Section 1A "Small Entities" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.

Turnover
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Goodwill
Goodwill, being the amount paid in connection with the acquisition of a business in 2021, is being amortised evenly over its estimated useful life of twenty years.

Intangible assets
Intangible assets are initially measured at cost. After initial recognition, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Fixtures, fittings & equipment - 20% on reducing balance

Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Income Statement, except to the extent that it relates to items recognised in other comprehensive income or directly in equity.

Current or deferred taxation assets and liabilities are not discounted.

Current tax is recognised at the amount of tax payable using the tax rates and laws that have been enacted or substantively enacted by the balance sheet date.

Deferred tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date.

Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from those in which they are recognised in financial statements. Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the year end and that are expected to apply to the reversal of the timing difference.

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.

Pension costs and other post-retirement benefits
The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate.

ASHCROFTS ACCOUNTANTS LIMITED (REGISTERED NUMBER: 13201651)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 MARCH 2024


3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 2 (2023 - 2 ) .

4. INTANGIBLE FIXED ASSETS
Goodwill
£   
COST
At 1 April 2023
and 31 March 2024 142,775
AMORTISATION
At 1 April 2023 14,278
Amortisation for year 7,138
At 31 March 2024 21,416
NET BOOK VALUE
At 31 March 2024 121,359
At 31 March 2023 128,497

5. TANGIBLE FIXED ASSETS
Fixtures,
fittings
& equipment
£   
COST
At 1 April 2023
and 31 March 2024 7,550
DEPRECIATION
At 1 April 2023 1,884
Charge for year 1,133
At 31 March 2024 3,017
NET BOOK VALUE
At 31 March 2024 4,533
At 31 March 2023 5,666

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Trade debtors 14,958 5,561
Other debtors 20,000 -
34,958 5,561

ASHCROFTS ACCOUNTANTS LIMITED (REGISTERED NUMBER: 13201651)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 MARCH 2024


7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Trade creditors 2,946 2,451
Corporation tax 11,928 4,199
Social security and other taxes 1,411 2,097
VAT 9,462 10,364
Other creditors 1,205 1,205
Directors' loan accounts 129,490 144,155
156,442 164,471

8. PROVISIONS FOR LIABILITIES
2024 2023
£    £   
Deferred tax 1,133 1,077

Deferred
tax
£   
Balance at 1 April 2023 1,077
Charged during the year 56
Balance at 31 March 2024 1,133

9. RESERVES
Retained
earnings
£   

At 1 April 2023 10,194
Profit for the year 31,785
Dividends (20,000 )
At 31 March 2024 21,979

10. DIRECTOR'S ADVANCES, CREDITS AND GUARANTEES

At 31 March 2024, there was a loan from Mr A D Patel of £129,490 (2023: £144,155). This unsecured loan is interest free and repayable on demand.

11. RELATED PARTY DISCLOSURES

At 31 March 2024, there was a loan to KJS Property Investments Limited of £20,000 (2023: £Nil). This unsecured loan is interest free and repayable on demand.