ASHBROOK HOLDINGS LTD
UNAUDITED FINANCIAL STATEMENTS
FOR THE YEAR ENDED
31 DECEMBER 2023
Company Registration Number: 11708593
ASHBROOK HOLDINGS LTD
UNAUDITED FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023
CONTENTS PAGES
Company information 1
Balance sheet 2
Notes to the financial statements 3 to 7
ASHBROOK HOLDINGS LTD
COMPANY INFORMATION
FOR THE YEAR ENDED 31 DECEMBER 2023
DIRECTORS
L D Edwards
C E A Edwards
J A Ross
appointed 16 December 2023
SECRETARY
The company does not have an appointed secretary
REGISTERED OFFICE
2 Ward Road
Bletchley
Milton Keynes
Buckinghamshire
MK1 1JA
COMPANY REGISTRATION NUMBER
11708593 England and Wales
ASHBROOK HOLDINGS LTD
BALANCE SHEET
AS AT 31 DECEMBER 2023
Notes 2023 2022
£ £
FIXED ASSETS
Investments 5 1,600,000 1,706,521
CURRENT ASSETS
Debtors 6 80 2
CREDITORS: Amounts falling due within one year 7 5,371 1,583,935
NET CURRENT LIABILITIES (5,291) (1,583,933)
NET ASSETS 1,594,709 122,588
CAPITAL AND RESERVES
Called up share capital 100 2
Distributable profit and loss account 1,594,609 122,586
SHAREHOLDERS' FUNDS 1,594,709 122,588
These accounts have been prepared and delivered in accordance with the special provisions relating to small companies within Part 15 of the Companies Act 2006 and in accordance with the provisions of FRS 102 Section 1A - small entities.
For the financial year ended 31 December 2023 the company was entitled to exemption from audit under section 477 of the Companies Act 2006.
Members have not required the company to obtain an audit in accordance with section 476 of the Act.
The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts.
As permitted by S444 (5A) of the Companies Act 2006 the directors have not delivered to the Registrar a copy of the company’s Profit and Loss Account or Directors Report.
Signed on behalf of the board of directors
L D Edwards C E A Edwards
Director Director
Date approved by the board: 23 May 2024
ASHBROOK HOLDINGS LTD
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023
1 GENERAL INFORMATION
Ashbrook Holdings Ltd is a private company limited by shares and incorporated in England and Wales. Its registered office is:
2 Ward Road
Bletchley
Milton Keynes
Buckinghamshire
MK1 1JA
The financial statements are presented in Sterling, which is the functional currency of the company.
2 SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES
Basis of preparation of financial statements
These financial statements have been prepared in accordance with applicable United Kingdom accounting standards, including Financial Reporting Standard 102 Section 1A smaller entities 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' ('FRS 102') and the Companies Act 2006.
Going concern
The accounts have been drawn up on the going concern basis. At the year end the company had net current liabilities of £5,291. The company is therefore dependent upon the continued support of the directors and its subsidiary company. The directors do not consider their support nor the support of their subsidiary company likely to be withdrawn.
If the going concern basis was not appropriate, adjustments would have to be made to reduce the value of assets to their recoverable amounts, to provide for additional liabilities that might arise and to reclassify fixed assets as current assets.
Investments
Investments in subsidiaries are shown at cost less accumulated impairment losses.
ASHBROOK HOLDINGS LTD
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023
2 SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (continued…)
Financial Instruments
The company only enters into basic financial instruments transactions that result in the recognition of financial assets and liabilities like trade and other accounts receivable and payable, loans from banks and other third parties, loans to related parties and investments in non-puttable ordinary shares.
Financial assets are measured at cost and are assessed at the end of each reporting period for objective evidence of impairment. Where objective evidence of impairment is found, an impairment loss is recognised in the profit and loss account.
The impairment loss for financial assets measured at cost is measured as the difference between an asset's carrying amount and the best estimate, which is an approximation, of the amount that the company would receive for the asset if it were to be sold at the reporting date.
Financial assets and liabilities are offset and the net amount reported in the balance sheet when there is an enforceable right to set off the recognised amount and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously.
Debtors
Short term debtors are measured at transaction price, less any impairment.
Creditors
Short term trade creditors are measured at the transaction price. Other financial liabilities, including bank loans, are measured initially at fair value, net of transaction costs, and subsequently at amortised cost.
Borrowing costs
All borrowing costs are recognised in the profit and loss account in the period in which they are incurred.
Consolidation
The company is a parent company subject to the small companies regime. The company and its subsidiary comprise a small group. The company has therefore taken advantage of the option provided by section 399 of the Companies Act 2006 not to prepare group accounts.
3 CRITICAL ACCOUNTING ESTIMATES AND JUDGEMENTS
The directors have made key assumptions in determining the fair value of the company's investments in subsidiaries.
ASHBROOK HOLDINGS LTD
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023
4 EMPLOYEES
The average number of persons employed by the company (including directors) during the year was:
2023 2022
Average number of employees 3 2
5 FIXED ASSET INVESTMENTS
Investment in subsidiary
£
Cost
At 1 January 2023 1,706,521
Additions 1,600,000
Impairment (1,706,521)
At 31 December 2023 1,600,000
Net book value
At 1 January 2023 1,706,521
At 31 December 2023 1,600,000
The company's investment in its 100% subsidiary was fully impaired during the year following the transfer of its assets and liabilities as disclosed in Note 9 below.
During the year, the company's subsidiary company, CSL Plastics Limited, transferred its 100% shareholding in Cranfield Solutions Limited as disclosed in Note 9 below.
6 DEBTORS
2023 2022
£ £
Other debtors 80 2
ASHBROOK HOLDINGS LTD
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023
7 CREDITORS: Amounts falling due within one year
2023 2022
£ £
Accruals and deferred income 5,371 2,120
Other creditors - 1,581,815
5,371 1,583,935
8 DIRECTORS' ADVANCES, CREDITS AND GUARANTEES
The following directors' advances, credits and guarantees took place during the year:
Balance at 1 January 2023 Amounts advanced Amounts repaid Amounts written off or waived Balance at 31 December 2023
£ £ £ £ £
L D Edwards 1 49 20 - 30
C E A Edwards 1 49 - - 50
2 98 20 - 80
These advances are interest free and repayable on demand.
ASHBROOK HOLDINGS LTD
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023
9 RELATED PARTY TRANSACTIONS
During the year, the following transactions with related parties took place:
2023 2022
£ £
CSL Plastics Limited During the year, CSL Plastics Limited transferred its 100% shareholding in Cranfield Solutions Limited to Ashbrook Holdings Limited. The following amount was accounted for via an intercompany loan account in respect of the consideration received:
Subsidiary undertaking
1,600,000 -
2023 2022
£ £
CSL Plastics Limited During the year, the intercompany loan balance owed by Ashbrook Holdings Limited to CSL Plastics Ltd was written off. The balance written off totalled:
Subsidiary undertaking
1,596,560 -
2023 2022
£ £
CSL Plastics Limited During the year, the company transferred liabilities to Ashbrook Holdings via an intercompany loan account totalling:
Subsidiary undertaking
3,440 -
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