ASHBROOK HOLDINGS LTD |
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BALANCE SHEET |
AS AT 31 DECEMBER 2023 |
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Notes |
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2023 |
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2022 |
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£ |
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£ |
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FIXED ASSETS |
Investments |
5 |
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1,600,000 |
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1,706,521 |
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CURRENT ASSETS |
Debtors |
6 |
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80 |
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2 |
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CREDITORS: Amounts falling due within one year |
7 |
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5,371 |
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1,583,935 |
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NET CURRENT LIABILITIES |
(5,291) |
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(1,583,933) |
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NET ASSETS |
1,594,709 |
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122,588 |
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CAPITAL AND RESERVES |
Called up share capital |
100 |
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2 |
Distributable profit and loss account |
1,594,609 |
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122,586 |
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SHAREHOLDERS' FUNDS |
1,594,709 |
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122,588 |
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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. |
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For the financial year ended 31 December 2023 the company was entitled to exemption from audit under section 477 of the Companies Act 2006. |
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Members have not required the company to obtain an audit in accordance with section 476 of the Act. |
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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. |
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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. |
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Signed on behalf of the board of directors |
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L D Edwards |
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C E A Edwards |
Director |
Director |
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Date approved by the board: 23 May 2024 |
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ASHBROOK HOLDINGS LTD |
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NOTES TO THE FINANCIAL STATEMENTS |
FOR THE YEAR ENDED 31 DECEMBER 2023 |
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1 |
GENERAL INFORMATION |
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Ashbrook Holdings Ltd is a private company limited by shares and incorporated in England and Wales. Its registered office is: |
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2 Ward Road |
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Bletchley |
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Milton Keynes |
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Buckinghamshire |
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MK1 1JA |
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The financial statements are presented in Sterling, which is the functional currency of the company. |
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2 |
SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES |
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Basis of preparation of financial statements |
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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. |
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Going concern |
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Creditors |
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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. |
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Borrowing costs |
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All borrowing costs are recognised in the profit and loss account in the period in which they are incurred. |
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Consolidation |
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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. |
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3 |
CRITICAL ACCOUNTING ESTIMATES AND JUDGEMENTS |
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The directors have made key assumptions in determining the fair value of the company's investments in subsidiaries. |
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ASHBROOK HOLDINGS LTD |
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NOTES TO THE FINANCIAL STATEMENTS |
FOR THE YEAR ENDED 31 DECEMBER 2023 |
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4 |
EMPLOYEES |
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The average number of persons employed by the company (including directors) during the year was: |
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2023 |
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2022 |
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Average number of employees |
3 |
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2 |
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5 |
FIXED ASSET INVESTMENTS |
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Investment in subsidiary |
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£ |
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Cost |
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At 1 January 2023 |
1,706,521 |
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Additions |
1,600,000 |
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Impairment |
(1,706,521) |
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At 31 December 2023 |
1,600,000 |
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Net book value |
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At 1 January 2023 |
1,706,521 |
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At 31 December 2023 |
1,600,000 |
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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. |
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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. |
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6 |
DEBTORS |
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2023 |
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2022 |
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£ |
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£ |
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Other debtors |
80 |
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2 |
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ASHBROOK HOLDINGS LTD |
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NOTES TO THE FINANCIAL STATEMENTS |
FOR THE YEAR ENDED 31 DECEMBER 2023 |
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7 |
CREDITORS: Amounts falling due within one year |
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2023 |
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2022 |
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£ |
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£ |
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Accruals and deferred income |
5,371 |
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2,120 |
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Other creditors |
- |
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1,581,815 |
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5,371 |
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1,583,935 |
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8 |
DIRECTORS' ADVANCES, CREDITS AND GUARANTEES |
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The following directors' advances, credits and guarantees took place during the year: |
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Balance at 1 January 2023 |
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Amounts advanced |
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Amounts repaid |
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Amounts written off or waived |
Balance at 31 December 2023 |
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£ |
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£ |
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£ |
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£ |
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£ |
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L D Edwards |
1 |
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49 |
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20 |
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- |
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30 |
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C E A Edwards |
1 |
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49 |
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- |
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- |
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50 |
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2 |
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98 |
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20 |
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- |
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80 |
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9 |
RELATED PARTY TRANSACTIONS |
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During the year, the following transactions with related parties took place: |
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2023 |
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2022 |
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£ |
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£ |
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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: |
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Subsidiary undertaking |
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1,600,000 |
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- |
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2023 |
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2022 |
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£ |
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£ |
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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: |
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Subsidiary undertaking |
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1,596,560 |
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- |
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2023 |
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2022 |
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£ |
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£ |
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CSL Plastics Limited |
During the year, the company transferred liabilities to Ashbrook Holdings via an intercompany loan account totalling: |
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Subsidiary undertaking |
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3,440 |
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- |
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