Ashlong Limited 02923427 false 2023-03-01 2024-02-29 2024-02-29 The principal activity of the company is Printing Digita Accounts Production Advanced 6.30.9574.0 true 02923427 2023-03-01 2024-02-29 02923427 2024-02-29 02923427 core:CurrentFinancialInstruments 2024-02-29 02923427 core:CurrentFinancialInstruments core:WithinOneYear 2024-02-29 02923427 core:LandBuildings core:LongLeaseholdAssets 2024-02-29 02923427 core:MotorVehicles 2024-02-29 02923427 core:OfficeEquipment 2024-02-29 02923427 core:PlantMachinery 2024-02-29 02923427 bus:SmallEntities 2023-03-01 2024-02-29 02923427 bus:AuditExemptWithAccountantsReport 2023-03-01 2024-02-29 02923427 bus:FullAccounts 2023-03-01 2024-02-29 02923427 bus:SmallCompaniesRegimeForAccounts 2023-03-01 2024-02-29 02923427 bus:RegisteredOffice 2023-03-01 2024-02-29 02923427 bus:Director1 2023-03-01 2024-02-29 02923427 bus:PrivateLimitedCompanyLtd 2023-03-01 2024-02-29 02923427 core:LandBuildings core:LongLeaseholdAssets 2023-03-01 2024-02-29 02923427 core:LeaseholdImprovements 2023-03-01 2024-02-29 02923427 core:MotorVehicles 2023-03-01 2024-02-29 02923427 core:OfficeEquipment 2023-03-01 2024-02-29 02923427 core:PlantMachinery 2023-03-01 2024-02-29 02923427 countries:EnglandWales 2023-03-01 2024-02-29 02923427 2023-02-28 02923427 core:LandBuildings core:LongLeaseholdAssets 2023-02-28 02923427 core:MotorVehicles 2023-02-28 02923427 core:OfficeEquipment 2023-02-28 02923427 core:PlantMachinery 2023-02-28 02923427 2022-03-01 2023-02-28 02923427 2023-02-28 02923427 core:CurrentFinancialInstruments 2023-02-28 02923427 core:CurrentFinancialInstruments core:WithinOneYear 2023-02-28 02923427 core:LandBuildings core:LongLeaseholdAssets 2023-02-28 02923427 core:MotorVehicles 2023-02-28 02923427 core:OfficeEquipment 2023-02-28 02923427 core:PlantMachinery 2023-02-28 iso4217:GBP xbrli:pure

Registration number: 02923427

Ashlong Limited

Annual Report and Unaudited Filleted Financial Statements

for the Year Ended 29 February 2024

 

Ashlong Limited

Contents

Company Information

1

Balance Sheet

2

Notes to the Unaudited Financial Statements

3 to 7

 

Ashlong Limited

Company Information

Director

D Peters

Registered office

2 Charnwood House
Marsh Road
Ashton
Bristol
BS3 2NA

Accountants

Stone & Co Chartered Accountants
2 Charnwood House
Marsh Road
Ashton
Bristol
BS3 2NA

 

Ashlong Limited

(Registration number: 02923427)
Balance Sheet as at 29 February 2024

Note

2024
£

2023
£

         

Fixed assets

   

Tangible assets

4

 

5,322

4,814

Current assets

   

Stocks

5

-

 

27,258

Debtors

6

42,865

 

42,281

Cash at bank and in hand

 

66,214

 

76,526

 

109,079

 

146,065

Creditors: Amounts falling due within one year

7

(29,197)

 

(23,260)

Net current assets

   

79,882

122,805

Total assets less current liabilities

   

85,204

127,619

Provisions for liabilities

 

-

(406)

Net assets

   

85,204

127,213

Capital and reserves

   

Called up share capital

300

 

300

Share premium reserve

30

 

30

Profit and loss account

84,874

 

126,883

Total equity

   

85,204

127,213

For the financial year ending 29 February 2024 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 accounts for the year in question in accordance with section 476; and

The director acknowledges his 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.

These financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime. As permitted by section 444 (5A) of the Companies Act 2006, the director has not delivered to the registrar a copy of the Profit and Loss Account.

Approved and authorised by the director on 6 August 2024
 

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

D Peters
Director

 

Ashlong Limited

Notes to the Unaudited Financial Statements for the Year Ended 29 February 2024

1

General information

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

The address of its registered office is:
2 Charnwood House
Marsh Road
Ashton
Bristol
BS3 2NA
United Kingdom

These financial statements were authorised for issue by the director on 6 August 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

These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A smaller entities - 'The Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland' and the Companies Act 2006 (as applicable to companies subject to the small companies' 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.

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 current and 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.

 

Ashlong Limited

Notes to the Unaudited Financial Statements for the Year Ended 29 February 2024

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:

Asset class

Depreciation method and rate

Leasehold property

33% straight line

Plant and machinery

25% reducing balance

Motor vehicles

25% reducing balance

Equipment

25% reducing balance

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.

 

Ashlong Limited

Notes to the Unaudited Financial Statements for the Year Ended 29 February 2024

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.

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.

Dividends

Dividend distribution to the company’s shareholders is recognised as a liability in the financial statements in the reporting period in which the dividends are declared.

Defined contribution pension obligation

A defined contribution plan is a pension plan under which fixed contributions are paid into a pension fund and the company has no legal or constructive obligation to pay further contributions even if the fund does not hold sufficient assets to pay all employees the benefits relating to employee service in the current and prior periods.

Contributions to defined contribution plans are recognised as employee benefit expense when they are due. If contribution payments exceed the contribution due for service, the excess is recognised as a prepayment.

3

Staff numbers

The average number of persons employed by the company (including the director) during the year, was 4 (2023 - 4).

 

Ashlong Limited

Notes to the Unaudited Financial Statements for the Year Ended 29 February 2024

4

Tangible assets

Long leasehold land and buildings
£

Plant and machinery
£

Office equipment
£

Motor vehicles
 £

Total
£

Cost or valuation

At 1 March 2023

9,891

90,494

19,080

12,489

131,954

Additions

-

2,620

-

-

2,620

At 29 February 2024

9,891

93,114

19,080

12,489

134,574

Depreciation

At 1 March 2023

9,891

87,198

18,500

11,551

127,140

Charge for the year

-

1,600

277

235

2,112

At 29 February 2024

9,891

88,798

18,777

11,786

129,252

Carrying amount

At 29 February 2024

-

4,316

303

703

5,322

At 28 February 2023

-

3,296

580

938

4,814

Included within the net book value of land and buildings above is £ (2023 - £) in respect of long leasehold land and buildings.
 

5

Stocks

2024
£

2023
£

Other inventories

-

27,258

6

Debtors

Current

2024
£

2023
£

Trade debtors

40,584

39,955

Prepayments

2,028

2,074

Other debtors

253

252

 

42,865

42,281

 

Ashlong Limited

Notes to the Unaudited Financial Statements for the Year Ended 29 February 2024

7

Creditors

Creditors: amounts falling due within one year

2024
£

2023
£

Due within one year

Trade creditors

21,890

15,267

Taxation and social security

5,144

6,445

Accruals and deferred income

2,163

1,548

29,197

23,260