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REGISTERED NUMBER: 13863721 (England and Wales)






















FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31ST DECEMBER 2023

FOR

ASH SPECIAL WORKS LTD

ASH SPECIAL WORKS LTD (REGISTERED NUMBER: 13863721)






CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31ST DECEMBER 2023




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 3


ASH SPECIAL WORKS LTD

COMPANY INFORMATION
FOR THE YEAR ENDED 31ST DECEMBER 2023







DIRECTORS: P D Seex
M D S West





REGISTERED OFFICE: 83 Cambridge Street
Pimlico
London
SW1V 4PS





REGISTERED NUMBER: 13863721 (England and Wales)





AUDITORS: George Hay & Company
Chartered Accountants
& Statutory Auditors
83 Cambridge Street
London
SW1V 4PS

ASH SPECIAL WORKS LTD (REGISTERED NUMBER: 13863721)

BALANCE SHEET
31ST DECEMBER 2023

2023 2022
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 21,938 29,252

CURRENT ASSETS
Debtors 5 82,720 228,161
Cash at bank and in hand 980,766 240,619
1,063,486 468,780
CREDITORS
Amounts falling due within one year 6 409,876 204,571
NET CURRENT ASSETS 653,610 264,209
TOTAL ASSETS LESS CURRENT
LIABILITIES

675,548

293,461

CREDITORS
Amounts falling due after more than one
year

7

8,508

13,882
NET ASSETS 667,040 279,579

CAPITAL AND RESERVES
Called up share capital 8 100 100
Retained earnings 666,940 279,479
SHAREHOLDERS' FUNDS 667,040 279,579

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 Profit & Loss Account has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 28th August 2024 and were signed on its behalf by:





M D S West - Director


ASH SPECIAL WORKS LTD (REGISTERED NUMBER: 13863721)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31ST DECEMBER 2023

1. STATUTORY INFORMATION

Ash Special Works Ltd 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.

The presentation currency of the financial statements is the Pound Sterling (£).


The principal trading address is 4 The Courtyard, Birling Road, Ryarsh, West Malling, ME19 5AA.

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.

Financial Reporting Standard 102 - reduced disclosure exemptions
The company has taken advantage of the following disclosure exemptions in preparing these financial statements, as permitted by FRS 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland":

- the requirements of Section 7 Statement of Cash Flows;
- the requirement of paragraph 3.17(d);
- the requirements of paragraphs 11.42, 11.44, 11.45, 11.47, 11.48(a)(iii), 11.48(a)(iv), 11.48(b) and
11.48(c);
- the requirements of paragraphs 12.26, 12.27, 12.29(a), 12.29(b) and 12.29A;
- the requirement of paragraph 33.7.

The information is included in the consolidated financial statements of Ash Connect Limited as at 31 December 2023 and these financial statements may be obtained from 4 The Courtyard, Birling Road, Ryarsh, West Malling, ME19 5AA.

Significant judgements and estimates
Estimates and judgements are continually evaluated by the directors and are based on historical experience and other factors, including expectations of future events that are believed to be reasonable under the circumstances.

The company makes estimates and assumptions concerning the future. Actual results may differ from these estimates. Revisions to accounting estimates are recognised in the period in which the estimate is revised where the revision affects only that period, or the period of the revision and future periods where the revision affects both current and future periods.

The directors consider there to be no significant areas of judgements or key sources of estimation uncertainty.

Turnover
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Revenue from construction contracts
Revenue and costs are recognised over time with reference to the stage of completion of the contract activity at the balance sheet date where the outcome of a contract can be estimated reliably. This is normally measured by surveys of work performed to date. Variations in contract work and claims are included to the extent that it is highly probable that they will result in revenue and they are capable of being reliably measured.

Where the outcome of a long term contract cannot be estimated reliably, contract revenue where recoverability is probable is recognised to the extent of contract costs incurred. The costs associated with fulfilling a contract are recognised as expenses in the period in which they are incurred. When it is probable that total contract costs will exceed total contract revenue, the expected loss is recognised as an expense immediately.

ASH SPECIAL WORKS LTD (REGISTERED NUMBER: 13863721)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31ST DECEMBER 2023

2. ACCOUNTING POLICIES - continued

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

Motor vehicles - 25% reducing balance

Financial instruments
The company enters into basic financial transactions that result in the recognition of financial assets and
liabilities like trade and other debtors and creditors, loans from banks and investments in non-puttable ordinary shares.

Cash is represented by cash in hand and deposits with financial institutions repayable without penalty on notice of not more than 24 hours. Cash equivalents are highly liquid investments that mature in no more than three months from the date of acquisition and that are readily convertible to known amounts of cash with insignificant risk of change in value.

Financial assets that are measured at cost and amortised cost are assessed at the end of each reporting period for objective evidence of impairment. If objective evidence of impairment is found, an impairment losses recognised in profit and loss.

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 amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously.

Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Profit & Loss Account, except to the extent that it relates to items recognised in other comprehensive income or directly in equity.

Current or deferred taxation assets and liabilities are not discounted.

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.

Hire purchase and leasing commitments
Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease.

Assets held under hire purchase agreements are capitalised and disclosed under tangible fixed assets at their fair value. The capital element of the future payments is treated as a liability and the interest is charged to the profit and loss account on a straight-line basis.

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.

ASH SPECIAL WORKS LTD (REGISTERED NUMBER: 13863721)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31ST DECEMBER 2023

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 5 (2022 - 3 ) .

4. TANGIBLE FIXED ASSETS
Motor
vehicles
£   
COST
At 1st January 2023
and 31st December 2023 33,290
DEPRECIATION
At 1st January 2023 4,038
Charge for year 7,314
At 31st December 2023 11,352
NET BOOK VALUE
At 31st December 2023 21,938
At 31st December 2022 29,252

The net book value of assets held under finance leases, included above, are as follows:

2023
£
Motor vehicles14,122

These same assets are pledged as security for the finance lease creditor.

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Trade debtors - 36,519
Accrued income and amounts
recoverable on contracts 72,258 191,172
Prepayments 1,415 -
Sales retention control 9,047 470
82,720 228,161

ASH SPECIAL WORKS LTD (REGISTERED NUMBER: 13863721)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31ST DECEMBER 2023

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Finance leases 5,374 5,374
Trade creditors 73,187 31,228
Tax 136,288 68,940
Social security and other taxes 18,781 4,063
VAT 84,025 16,191
Subcontractor invoices 50,746 72,354
Subcontractors retention 8,450 -
Directors' current accounts 3,360 -
Accruals 29,665 6,421
409,876 204,571

7. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
2023 2022
£    £   
Finance leases 8,508 13,882

8. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 2023 2022
value: £    £   
75 Ordinary A £1.00 75 75
25 Ordinary B £1.00 25 25
100 100

9. DISCLOSURE UNDER SECTION 444(5B) OF THE COMPANIES ACT 2006

The Report of the Auditors was unqualified.

Marino Achilleos FCCA (Senior Statutory Auditor)
for and on behalf of George Hay & Company

10. ULTIMATE CONTROLLING PARTY AND PARENT UNDERTAKING

The Ash Connect Employee Ownership Trust is the ultimate controlling party by virtue of its ownership of Ash Connect Limited.

The immediate parent undertaking is Ash Connect Limited.

The smallest and largest group for which consolidated accounts are prepared which include the results of this company is that headed by Ash Connect Limited and these financial statements may be obtained from 4 The Courtyard, Birling Road, Ryarsh, West Malling, ME19 5AA.