Ashtead Retail and Wholesale Ltd 05369449 false 2023-04-01 2024-03-31 2024-03-31 The principal activity of the company is the sale of electronic accessories and other items, retail and wholesale Digita Accounts Production Advanced 6.30.9574.0 true 05369449 2023-04-01 2024-03-31 05369449 2024-03-31 05369449 bus:OrdinaryShareClass1 2024-03-31 05369449 core:HirePurchaseContracts core:Non-currentFinancialInstruments 2024-03-31 05369449 core:CurrentFinancialInstruments 2024-03-31 05369449 core:CurrentFinancialInstruments core:WithinOneYear 2024-03-31 05369449 core:Non-currentFinancialInstruments core:AfterOneYear 2024-03-31 05369449 core:LandBuildings 2024-03-31 05369449 core:MotorVehicles 2024-03-31 05369449 core:OtherPropertyPlantEquipment 2024-03-31 05369449 bus:SmallEntities 2023-04-01 2024-03-31 05369449 bus:AuditExemptWithAccountantsReport 2023-04-01 2024-03-31 05369449 bus:FullAccounts 2023-04-01 2024-03-31 05369449 bus:SmallCompaniesRegimeForAccounts 2023-04-01 2024-03-31 05369449 bus:RegisteredOffice 2023-04-01 2024-03-31 05369449 bus:Director1 2023-04-01 2024-03-31 05369449 bus:Director2 2023-04-01 2024-03-31 05369449 bus:OrdinaryShareClass1 2023-04-01 2024-03-31 05369449 bus:PrivateLimitedCompanyLtd 2023-04-01 2024-03-31 05369449 core:LandBuildings 2023-04-01 2024-03-31 05369449 core:MotorVehicles 2023-04-01 2024-03-31 05369449 core:OtherPropertyPlantEquipment 2023-04-01 2024-03-31 05369449 core:PlantMachinery 2023-04-01 2024-03-31 05369449 core:Vehicles 2023-04-01 2024-03-31 05369449 countries:AllCountries 2023-04-01 2024-03-31 05369449 2023-03-31 05369449 core:LandBuildings 2023-03-31 05369449 core:MotorVehicles 2023-03-31 05369449 core:OtherPropertyPlantEquipment 2023-03-31 05369449 2022-04-01 2023-03-31 05369449 2023-03-31 05369449 bus:OrdinaryShareClass1 2023-03-31 05369449 core:HirePurchaseContracts core:Non-currentFinancialInstruments 2023-03-31 05369449 core:CurrentFinancialInstruments 2023-03-31 05369449 core:CurrentFinancialInstruments core:WithinOneYear 2023-03-31 05369449 core:Non-currentFinancialInstruments core:AfterOneYear 2023-03-31 05369449 core:LandBuildings 2023-03-31 05369449 core:MotorVehicles 2023-03-31 05369449 core:OtherPropertyPlantEquipment 2023-03-31 05369449 bus:OrdinaryShareClass1 2022-04-01 2023-03-31 iso4217:GBP xbrli:pure xbrli:shares

Registration number: 05369449

Ashtead Retail and Wholesale Ltd

Annual Report and Unaudited Financial Statements

for the Year Ended 31 March 2024

 

Ashtead Retail and Wholesale Ltd

Contents

Company Information

1

Balance Sheet

2 to 3

Notes to the Unaudited Financial Statements

4 to 11

 

Ashtead Retail and Wholesale Ltd

Company Information

Directors

Mrs K Graham

Mr K Graham

Registered office

Unit 1, The Circuit Centre
Avro Way
Weybridge
Surrey
KT13 0YT

Accountants

Brinkworths Accounting Services Ltd
t/a AIMS Accountants for Business
The Leatherhead Institute
67 High St
Leatherhead
Surrey
KT22 8AH

 

Ashtead Retail and Wholesale Ltd

(Registration number: 05369449)
Balance Sheet as at 31 March 2024

Note

2024
£

2023
£

Fixed assets

 

Tangible assets

4

595,917

624,133

Current assets

 

Stocks

5

98,941

89,135

Debtors

6

147,080

109,502

Cash at bank and in hand

 

776,153

905,396

 

1,022,174

1,104,033

Creditors: Amounts falling due within one year

7

(63,644)

(93,977)

Net current assets

 

958,530

1,010,056

Total assets less current liabilities

 

1,554,447

1,634,189

Creditors: Amounts falling due after more than one year

7

(49,310)

(58,780)

Provisions for liabilities

(11,385)

(16,842)

Net assets

 

1,493,752

1,558,567

Capital and reserves

 

Called up share capital

8

180

180

Retained earnings

1,493,572

1,558,387

Shareholders' funds

 

1,493,752

1,558,567

For the financial 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.

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.

These financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime and the option not to file the Profit and Loss Account has been taken.

Approved and authorised by the Board on 13 August 2024 and signed on its behalf by:
 

 

Ashtead Retail and Wholesale Ltd

(Registration number: 05369449)
Balance Sheet as at 31 March 2024

.........................................
Mr K Graham
Director

 

Ashtead Retail and Wholesale Ltd

Notes to the Unaudited Financial Statements for the Year Ended 31 March 2024

1

General information

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

The address of its registered office is:
Unit 1, The Circuit Centre
Avro Way
Weybridge
Surrey
KT13 0YT

These financial statements were authorised for issue by the Board on 13 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.

Foreign currency transactions and balances

Transactions in foreign currencies are initially recorded at the functional currency rate prevailing at the date of the transaction. Monetary assets and liabilities denominated in foreign currencies are retranslated into the respective functional currency of the entity at the rates prevailing on the reporting period date. Non-monetary items carried at fair value that are denominated in foreign currencies are retranslated at the rate on the date when the fair value is re-measured.

Non-monetary items measured in terms of historical cost in a foreign currency are not retranslated.

 

Ashtead Retail and Wholesale Ltd

Notes to the Unaudited Financial Statements for the Year Ended 31 March 2024

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.

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

Other tangible assets

25% reducing balance

Motor Vehicles

33.3 % straight line

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.

 

Ashtead Retail and Wholesale Ltd

Notes to the Unaudited Financial Statements for the Year Ended 31 March 2024

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.

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.

Leases

Leases in which substantially all the risks and rewards of ownership are retained by the lessor are classified as operating leases. Payments made under operating leases are charged to profit or loss on a straight-line basis over the period of the lease.

Leases are classified as finance leases whenever the terms of the lease transfer substantially all the risks and rewards of ownership to the lessee.

Assets held under finance leases are recognised at the lower of their fair value at inception of the lease and the present value of the minimum lease payments. These assets are depreciated on a straight-line basis over the shorter of the useful life of the asset and the lease term. The corresponding liability to the lessor is included in the balance sheet as a finance lease obligation.

Lease payments are apportioned between finance costs in the profit and loss account and reduction of the lease obligation so as to achieve a constant periodic rate of interest on the remaining balance of the liability.

 

Ashtead Retail and Wholesale Ltd

Notes to the Unaudited Financial Statements for the Year Ended 31 March 2024

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 directors) during the year, was 6 (2023 - 7).

4

Tangible assets

Land and buildings
£

Motor vehicles
 £

Other tangible assets
£

Total
£

Cost or valuation

At 1 April 2023

535,490

67,580

72,714

675,784

At 31 March 2024

535,490

67,580

72,714

675,784

Depreciation

At 1 April 2023

-

1,877

49,774

51,651

Charge for the year

-

22,526

5,690

28,216

At 31 March 2024

-

24,403

55,464

79,867

Carrying amount

At 31 March 2024

535,490

43,177

17,250

595,917

At 31 March 2023

535,490

65,703

22,940

624,133

Included within the net book value of land and buildings above is £535,490 (2023 - £535,490) in respect of freehold land and buildings.
 

 

Ashtead Retail and Wholesale Ltd

Notes to the Unaudited Financial Statements for the Year Ended 31 March 2024

5

Stocks

2024
£

2023
£

Other inventories

98,941

89,135

6

Debtors

Current

2024
£

2023
£

Trade debtors

112,253

81,290

Other debtors

34,827

28,212

 

147,080

109,502

 

Ashtead Retail and Wholesale Ltd

Notes to the Unaudited Financial Statements for the Year Ended 31 March 2024

7

Creditors

Creditors: amounts falling due within one year

2024
£

2023
£

Due within one year

Trade creditors

49,108

46,428

Taxation and social security

14,536

43,167

Other creditors

-

4,382

63,644

93,977

Creditors: amounts falling due after more than one year

Note

2024
£

2023
£

Due after one year

 

Loans and borrowings

9

49,310

58,780

8

Share capital

Allotted, called up and fully paid shares

 

2024

2023

 

No.

£

No.

£

Ordinary shares of £1 each

180

180

180

180

         

9

Loans and borrowings

2024
£

2023
£

Non-current loans and borrowings

Hire purchase contracts

49,310

58,780

10

Dividends

Interim dividends paid

 

Ashtead Retail and Wholesale Ltd

Notes to the Unaudited Financial Statements for the Year Ended 31 March 2024

   

2024
£

 

2023
£

Interim dividend of £533.33 per each Ordinary shares

 

96,000

 

96,000

         

11

Related party transactions

 

Ashtead Retail and Wholesale Ltd

Notes to the Unaudited Financial Statements for the Year Ended 31 March 2024

Directors' remuneration

The directors' remuneration for the year was as follows:

2024
£

2023
£

Remuneration

140,358

117,000

Contributions paid to money purchase schemes

43,390

-

183,748

117,000