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REGISTERED NUMBER: 03178360 (England and Wales)


















UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 29 FEBRUARY 2024

FOR

ASHFIELD WEDDINGS LIMITED

ASHFIELD WEDDINGS LIMITED (REGISTERED NUMBER: 03178360)






CONTENTS OF THE FINANCIAL STATEMENTS
for the Year Ended 29 February 2024




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


ASHFIELD WEDDINGS LIMITED

COMPANY INFORMATION
for the Year Ended 29 February 2024







DIRECTORS: Ms K E Street
Mrs R L Birkett
J P Birkett



REGISTERED OFFICE: Ashfield House
Ashfield Park Drive
Standish
Wigan
Lancashire
WN6 OEQ



REGISTERED NUMBER: 03178360 (England and Wales)



ACCOUNTANTS: Fairhurst
Chartered Accountants
Douglas Bank House
Wigan Lane
Wigan
Lancashire
WN1 2TB



BANKERS: Virgin Money
6 Bridge Street
St Helens
WA10 1NF



SOLICITORS: Marsdens
43 St Thomas's Road
Chorley
Lancashire
PR7 1JE

ASHFIELD WEDDINGS LIMITED (REGISTERED NUMBER: 03178360)

BALANCE SHEET
29 February 2024

2024 2023
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 60,809 72,066

CURRENT ASSETS
Stocks 5 19,692 17,080
Debtors 6 492,613 275,336
Cash at bank and in hand 338,323 525,620
850,628 818,036
CREDITORS
Amounts falling due within one year 7 662,609 592,179
NET CURRENT ASSETS 188,019 225,857
TOTAL ASSETS LESS CURRENT
LIABILITIES

248,828

297,923

PROVISIONS FOR LIABILITIES 8 15,200 18,000
NET ASSETS 233,628 279,923

CAPITAL AND RESERVES
Called up share capital 1,000 1,000
Share premium 29,400 29,400
Retained earnings 203,228 249,523
SHAREHOLDERS' FUNDS 233,628 279,923

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 29 February 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 29 February 2024 in accordance with Section 476 of the Companies Act 2006.

The directors acknowledge their 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.

ASHFIELD WEDDINGS LIMITED (REGISTERED NUMBER: 03178360)

BALANCE SHEET - continued
29 February 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 Statement of Income and Retained Earnings has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 15 August 2024 and were signed on its behalf by:





Ms K E Street - Director


ASHFIELD WEDDINGS LIMITED (REGISTERED NUMBER: 03178360)

NOTES TO THE FINANCIAL STATEMENTS
for the Year Ended 29 February 2024

1. STATUTORY INFORMATION

Ashfield Weddings 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, for goods and services provided net of value added tax.

Tangible fixed assets
Tangible fixed assets are recorded at cost less depreciation and impairment.

Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.

Improvements to property- over the lease term of 25 years
Plant and machinery- 25% on reducing balance
Fixtures and fittings- 25% on reducing balance
Computer equipment- 25% on reducing balance
Motor vehicles- 25% on reducing balance

Impairment of assets
At each reporting date assets are reviewed to determine whether there is any indication that those assets have suffered an impairment loss. If there is an indication of possible impairment, the recoverable amount of any affected asset is estimated and compared with its carrying amount. If the estimated recoverable amount is lower, the carrying amount is reduced to its estimated recoverable amount, and an impairment loss is recognised immediately in the profit and loss.

Where an impairment loss subsequently reverses, the carrying amount of each asset is increased to the revised estimate of its recoverable amount, to the extent that the increased carrying amount does not exceed the carrying amount that would have been determined (net of depreciation) had no impairment loss been recognised for the asset in prior years. A reversal of an impairment loss is recognised as income immediately.

Stocks
Stocks are valued at the lower of cost and selling price, after making due allowance for obsolete and slow moving items.

Financial instruments
Short term financial assets, including trade and other debtors and cash and bank balances, are measured at the transaction price.Financial assets that have no stated interest rate and are recoverable within one year shall be measured at the undiscounted amount due.

Short term financial liabilities, including trade and other creditors, are measured at the transaction price. Financial liabilities that have no stated interest rate and are payable within one year shall be measured at the undiscounted amount due.


ASHFIELD WEDDINGS LIMITED (REGISTERED NUMBER: 03178360)

NOTES TO THE FINANCIAL STATEMENTS - continued
for the Year Ended 29 February 2024

2. ACCOUNTING POLICIES - continued
Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Statement of Income and Retained Earnings, except to the extent that it relates to items recognised in other comprehensive income or directly in equity.

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.

Leases
Rentals payable under operating leases are charged to profit or loss on a straight line basis over the term of the lease.

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.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 35 (2023 - 35 ) .

4. TANGIBLE FIXED ASSETS
Improvements Fixtures
to Plant and and
property machinery fittings
£    £    £   
COST
At 1 March 2023 3,530 142,846 113,995
Additions - 2,654 5,709
At 29 February 2024 3,530 145,500 119,704
DEPRECIATION
At 1 March 2023 3,530 97,047 94,904
Charge for year - 12,112 6,201
At 29 February 2024 3,530 109,159 101,105
NET BOOK VALUE
At 29 February 2024 - 36,341 18,599
At 28 February 2023 - 45,799 19,091

ASHFIELD WEDDINGS LIMITED (REGISTERED NUMBER: 03178360)

NOTES TO THE FINANCIAL STATEMENTS - continued
for the Year Ended 29 February 2024

4. TANGIBLE FIXED ASSETS - continued

Motor Computer
vehicles equipment Totals
£    £    £   
COST
At 1 March 2023 28,931 33,626 322,928
Additions - 650 9,013
At 29 February 2024 28,931 34,276 331,941
DEPRECIATION
At 1 March 2023 26,985 28,396 250,862
Charge for year 487 1,470 20,270
At 29 February 2024 27,472 29,866 271,132
NET BOOK VALUE
At 29 February 2024 1,459 4,410 60,809
At 28 February 2023 1,946 5,230 72,066

5. STOCKS
2024 2023
£    £   
Bar and catering stock 19,692 17,080

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Trade debtors 11,220 5,420
Amounts owed by group undertakings 463,613 248,613
Other debtors 700 4,178
Prepayments 17,080 17,125
492,613 275,336

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Trade creditors 31,213 35,765
Tax 10,977 49,547
Social security and other taxes 65,233 50,484
Deposits 527,488 422,129
Accrued expenses 27,698 34,254
662,609 592,179

8. PROVISIONS FOR LIABILITIES
2024 2023
£    £   
Deferred tax 15,200 18,000

ASHFIELD WEDDINGS LIMITED (REGISTERED NUMBER: 03178360)

NOTES TO THE FINANCIAL STATEMENTS - continued
for the Year Ended 29 February 2024

8. PROVISIONS FOR LIABILITIES - continued

Deferred
tax
£   
Balance at 1 March 2023 18,000
Provided during year (2,800 )
Balance at 29 February 2024 15,200

9. GUARANTEES AND OTHER FINANCIAL COMMITMENTS

The company had total lease commitments at the year end of £750,000 (2022 - £840,000).

10. RELATED PARTY DISCLOSURES

The company has taken advantage of exemption, under the terms of Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland', not to disclose related party transactions with wholly owned subsidiaries within the group.