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REGISTERED NUMBER: 03510237 (England and Wales)














Financial Statements

for the Year Ended 31 December 2023

for

Ashley Wilde Designs Limited

Ashley Wilde Designs Limited (Registered number: 03510237)






Contents of the Financial Statements
for the Year Ended 31 December 2023




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 3


Ashley Wilde Designs Limited

Company Information
for the Year Ended 31 December 2023







DIRECTORS: A L Brodin
S D Brodin





REGISTERED OFFICE: Reedham House
31 King Street West
Manchester
Greater Manchester
M3 2PJ





BUSINESS ADDRESS: Emmanuel House
Travellers Close
Welham Green
Hertfordshire
AL9 7LD





REGISTERED NUMBER: 03510237 (England and Wales)





AUDITORS: Freedman Frankl & Taylor
Statutory Auditors
Chartered Accountants
Reedham House
31 King Street West
Manchester
M3 2PJ

Ashley Wilde Designs Limited (Registered number: 03510237)

Balance Sheet
31 December 2023

2023 2022
Notes £    £    £    £   
FIXED ASSETS
Intangible assets 4 - 81,764
Tangible assets 5 18,467 493,847
18,467 575,611

CURRENT ASSETS
Stocks - 2,506,724
Debtors 6 1,441,482 1,049,802
Cash at bank and in hand 26,425 135,442
1,467,907 3,691,968
CREDITORS
Amounts falling due within one year 7 70,162 1,183,448
NET CURRENT ASSETS 1,397,745 2,508,520
TOTAL ASSETS LESS CURRENT
LIABILITIES

1,416,212

3,084,131

CREDITORS
Amounts falling due after more than one
year

8

(5,270,555

)

(4,243,936

)

PROVISIONS FOR LIABILITIES - (70,085 )
NET LIABILITIES (3,854,343 ) (1,229,890 )

CAPITAL AND RESERVES
Called up share capital 2 2
Retained earnings (3,854,345 ) (1,229,892 )
SHAREHOLDERS' FUNDS (3,854,343 ) (1,229,890 )

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 Income Statement has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 20 August 2024 and were signed on its behalf by:





A L Brodin - Director


Ashley Wilde Designs Limited (Registered number: 03510237)

Notes to the Financial Statements
for the Year Ended 31 December 2023

1. STATUTORY INFORMATION

Ashley Wilde Designs 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.

On the 5th June 2023 the company sold its trade and certain assets to Riva Paoletti Limited.

Related party exemption
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.

Turnover
Turnover is measured at fair value of the consideration received or receivable, excluding discounts, rebates and value added tax from the provision of goods and services which fall within the company's ordinary activity. The director considers the business to comprise a single activity.

Bank and other interest is recognised in the period in which it was received.

Commission income is recognised in the period in which it is receivable.

Grants of a revenue nature are credited to income in the period to which they relate.

Intangible assets
Intellectual property and goodwill is being amortised on a straight line basis over a period of ten 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 - 20% on reducing balance and Straight line over 7 years
Motor vehicles - 25% on reducing balance
Computer equipment - 33% on reducing balance

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

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

Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Income Statement, 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.


Ashley Wilde Designs Limited (Registered number: 03510237)

Notes to the Financial Statements - continued
for the Year Ended 31 December 2023

2. ACCOUNTING POLICIES - continued
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.

Foreign currencies
Assets and liabilities in foreign currencies are translated into sterling at the rates of exchange ruling at the balance sheet date. Transactions in foreign currencies are translated into sterling at the rate of exchange ruling at the date of transaction. Exchange differences are taken into account in arriving at the operating result.

Hire purchase and leasing commitments
Assets held under hire purchase contracts are capitalised and depreciated over their useful lives. The finance charges are allocated over the primary period of the lease in proportion to the capital element outstanding.

Amounts payable under operating leases are charged to the profit and loss account in the period in which they are incurred.

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.

Going concern
The company is reliant on the financial support of its holding company Ashley Wilde Group Limited who have indicated their support of the company for the foreseeable future.

On this basis, the directors have a reasonable expectation that the company has adequate resources to continue in operational existence for the foreseeable future and thus have adopted the going concern basis of accounting in preparing the annual financial statements.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 27 (2022 - 54 ) .

Ashley Wilde Designs Limited (Registered number: 03510237)

Notes to the Financial Statements - continued
for the Year Ended 31 December 2023

4. INTANGIBLE FIXED ASSETS
Intellectual
property
and
goodwill
£   
COST
At 1 January 2023 130,823
Disposals (130,823 )
At 31 December 2023 -
AMORTISATION
At 1 January 2023 49,059
Amortisation for year 6,541
Eliminated on disposal (55,600 )
At 31 December 2023 -
NET BOOK VALUE
At 31 December 2023 -
At 31 December 2022 81,764

5. TANGIBLE FIXED ASSETS
Plant and Motor Computer
machinery vehicles equipment Totals
£    £    £    £   
COST
At 1 January 2023 479,655 263,270 69,558 812,483
Additions 2,603 68,633 689 71,925
Disposals (482,258 ) (269,646 ) (70,247 ) (822,151 )
At 31 December 2023 - 62,257 - 62,257
DEPRECIATION
At 1 January 2023 181,837 107,619 29,180 318,636
Charge for year 28,825 30,042 6,707 65,574
Eliminated on disposal (210,662 ) (93,871 ) (35,887 ) (340,420 )
At 31 December 2023 - 43,790 - 43,790
NET BOOK VALUE
At 31 December 2023 - 18,467 - 18,467
At 31 December 2022 297,818 155,651 40,378 493,847

Ashley Wilde Designs Limited (Registered number: 03510237)

Notes to the Financial Statements - continued
for the Year Ended 31 December 2023

5. TANGIBLE FIXED ASSETS - continued

Fixed assets, included in the above, which are held under hire purchase contracts are as follows:
Motor
vehicles
£   
COST
At 1 January 2023 38,995
Disposals (38,995 )
At 31 December 2023 -
NET BOOK VALUE
At 31 December 2023 -
At 31 December 2022 38,995

6. DEBTORS
2023 2022
£    £   
Amounts falling due within one year:
Trade debtors 10,781 585,948
Other debtors 261,646 463,854
272,427 1,049,802

Amounts falling due after more than one year:
Other debtors 1,169,055 -

Aggregate amounts 1,441,482 1,049,802

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Hire purchase contracts - 11,710
Trade creditors 26,850 779,240
Taxation and social security - 189,145
Other creditors 43,312 203,353
70,162 1,183,448

8. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
2023 2022
£    £   
Hire purchase contracts - 22,977
Amounts owed to group undertakings 5,270,555 4,220,959
5,270,555 4,243,936

9. SECURED DEBTS

Bank overdrafts are secured by a fixed and floating charge over the assets of the company.

Ashley Wilde Designs Limited (Registered number: 03510237)

Notes to the Financial Statements - continued
for the Year Ended 31 December 2023

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

The Report of the Auditors was unqualified.

Ian Sluckis FCA MAE (Senior Statutory Auditor)
for and on behalf of Freedman Frankl & Taylor

11. CONTINGENT LIABILITIES

The company has guaranteed the bank facility of Ashley Wilde Holdings Limited and Ashley Wilde Group Limited which at 31 December 2023 amounted to £Nil.

12. ULTIMATE PARENT COMPANY

The Company is a 100% subsidiary of Ashley Wilde Group Limited, a company registered in England & Wales. Copies of the consolidated financial statements of the ultimate parent undertaking Ashley Wilde Holdings Limited, may be obtained from Ashley Wilde Group Limited, Emmanuel House, Travellers Close, Welham Green, Hertfordshire AL9 7LD.