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REGISTERED NUMBER: 00604021 (England and Wales)










UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MAY 2024

FOR

ASHTON JIG AND TOOL COMPANY LIMITED

ASHTON JIG AND TOOL COMPANY LIMITED (REGISTERED NUMBER: 00604021)






CONTENTS OF THE FINANCIAL STATEMENTS
for the Year Ended 31 May 2024




Page

Company Information 1

Abridged Balance Sheet 2

Notes to the Financial Statements 4


ASHTON JIG AND TOOL COMPANY LIMITED

COMPANY INFORMATION
for the Year Ended 31 May 2024







DIRECTORS: J M Clifton
Mrs S A Clifton





SECRETARY: J M Clifton





REGISTERED OFFICE: Joncliff Works
Yorkshire Street
Ashton-under-lyne
Lancashire
OL6 8NR





REGISTERED NUMBER: 00604021 (England and Wales)





ACCOUNTANTS: Moss & Williamson Limited
Chartered Accountants
3 Mellor Road
Cheadle Hulme
Cheadle
Cheshire
SK8 5AT

ASHTON JIG AND TOOL COMPANY LIMITED (REGISTERED NUMBER: 00604021)

ABRIDGED BALANCE SHEET
31 May 2024

2024 2023
Notes £    £   
FIXED ASSETS
Intangible assets 4 2,000 2,640
Tangible assets 5 1,533,806 1,584,463
1,535,806 1,587,103

CURRENT ASSETS
Stocks 57,449 17,402
Debtors 846,577 416,221
Cash at bank and in hand 580,874 640,610
1,484,900 1,074,233
CREDITORS
Amounts falling due within one year (558,638 ) (286,300 )
NET CURRENT ASSETS 926,262 787,933
TOTAL ASSETS LESS CURRENT
LIABILITIES

2,462,068

2,375,036

PROVISIONS FOR LIABILITIES (251,727 ) (262,696 )
NET ASSETS 2,210,341 2,112,340

CAPITAL AND RESERVES
Called up share capital 9,700 9,700
Revaluation reserve 6 571,916 571,916
Capital redemption reserve 500 500
Retained earnings 1,628,225 1,530,224
SHAREHOLDERS' FUNDS 2,210,341 2,112,340

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 May 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 May 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.

ASHTON JIG AND TOOL COMPANY LIMITED (REGISTERED NUMBER: 00604021)

ABRIDGED BALANCE SHEET - continued
31 May 2024


The financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

All the members have consented to the preparation of an abridged Income Statement and an abridged Balance Sheet for the year ended 31 May 2024 in accordance with Section 444(2A) of the Companies Act 2006.

In accordance with Section 444 of the Companies Act 2006, the Income Statement 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:





J M Clifton - Director


ASHTON JIG AND TOOL COMPANY LIMITED (REGISTERED NUMBER: 00604021)

NOTES TO THE FINANCIAL STATEMENTS
for the Year Ended 31 May 2024

1. STATUTORY INFORMATION

Ashton Jig And Tool Company 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 as modified by the revaluation of certain assets.

Turnover
Turnover represents amounts receivable for goods and services net of VAT and trade discounts and is recognised at the point that goods are despatched.

Intangible assets
Intangible assets are initially measured at cost. After initial recognition, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses.

Patents and licences are being amortised evenly over their estimated useful life of nil years.

Computer software is being amortised evenly over its estimated useful life of nil years.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life or, if held under a finance lease, over the lease term, whichever is the shorter.
Plant and machinery - 10% on reducing balance
Fixtures and fittings - 10% on reducing balance
Motor vehicles - 25% on reducing balance
Computer equipment - 33% on cost

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

Costs includes all direct expenditure and appropriate proportion of fixed and variable overheads.

Work in progress is valued at realisable value.

Hire purchase and leasing commitments
Assets obtained under hire purchase contracts or finance leases are capitalised in the balance sheet. Those held under hire purchase contracts are depreciated over their estimated useful lives. Those held under finance leases are depreciated over their estimated useful lives or the lease term, whichever is the shorter.

The interest element of these obligations is charged to profit or loss over the relevant period. The capital element of the future payments is treated as a liability.

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 21 (2023 - 20 ) .

ASHTON JIG AND TOOL COMPANY LIMITED (REGISTERED NUMBER: 00604021)

NOTES TO THE FINANCIAL STATEMENTS - continued
for the Year Ended 31 May 2024

4. INTANGIBLE FIXED ASSETS
Totals
£   
COST
At 1 June 2023
and 31 May 2024 8,400
AMORTISATION
At 1 June 2023 5,760
Amortisation for year 640
At 31 May 2024 6,400
NET BOOK VALUE

At 31 May 2024 2,000
At 31 May 2023 2,640

5. TANGIBLE FIXED ASSETS
Totals
£   
COST OR VALUATION
At 1 June 2023 2,663,582
Additions 74,136
Disposals (26,144 )
At 31 May 2024 2,711,574
DEPRECIATION
At 1 June 2023 1,079,119
Charge for year 120,141
Eliminated on disposal (21,492 )
At 31 May 2024 1,177,768
NET BOOK VALUE
At 31 May 2024 1,533,806
At 31 May 2023 1,584,463

Cost or valuation at 31 May 2024 is represented by:

Totals
£   
Valuation in 2012 365,000
Valuation in 2022 160,000
Cost 2,186,574
2,711,574

ASHTON JIG AND TOOL COMPANY LIMITED (REGISTERED NUMBER: 00604021)

NOTES TO THE FINANCIAL STATEMENTS - continued
for the Year Ended 31 May 2024

5. TANGIBLE FIXED ASSETS - continued

If the property had not been revalued it would have been included at the following historical cost:

2024 2023
£    £   
Cost 163,992 163,992
Aggregate depreciation 47,709 44,593

The long leasehold property was valued on an open market basis on 5 April 2022 by Kirkham Commercial Property Services .

Fixed assets, included in the above, which are held under hire purchase contracts or finance leases are as follows:

Totals
£   
COST OR VALUATION
At 1 June 2023
and 31 May 2024 91,500
DEPRECIATION
At 1 June 2023 29,799
Charge for year 6,170
At 31 May 2024 35,969
NET BOOK VALUE
At 31 May 2024 55,531
At 31 May 2023 61,701

6. RESERVES
Revaluation
reserve
£   
At 1 June 2023
and 31 May 2024 571,916

7. RELATED PARTY DISCLOSURES

J M & Mrs S A Clifton are directors of Bond Hill Property Limited to whom the company paid £53,619 for rent and utilities.(2023 - £65,893).

8. ULTIMATE CONTROLLING PARTY

The controlling party is Mr & Mrs Clifton.