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REGISTERED NUMBER: 03670294 (England and Wales)















Financial Statements for the Year Ended 30 November 2023

for

ASK Rewinds Limited

ASK Rewinds Limited (Registered number: 03670294)

Contents of the Financial Statements
for the Year Ended 30 November 2023










Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


ASK Rewinds Limited

Company Information
for the Year Ended 30 November 2023







DIRECTORS: Mr A Whitaker
Mr P R Lewis





REGISTERED OFFICE: Unit 5 Laneside
Metcalfe Drive
Altham Industrial Estate
Altham
Lancashire
BB5 5TU





REGISTERED NUMBER: 03670294 (England and Wales)





ACCOUNTANTS: Bennett Kirkhope Smith
Chartered Certified Accountants
Suites 5 & 6 The Printworks
Hey Road
Barrow
Clitheroe
Lancashire
BB7 9WB

ASK Rewinds Limited (Registered number: 03670294)

Balance Sheet
30 November 2023

30.11.23 30.11.22
Notes £    £    £    £   
FIXED ASSETS
Intangible assets 4 - -
Tangible assets 5 213,520 260,237
213,520 260,237

CURRENT ASSETS
Stocks 6 65,000 63,274
Debtors 7 236,160 214,407
Cash at bank and in hand 136,242 124,543
437,402 402,224
CREDITORS
Amounts falling due within one year 8 234,259 215,143
NET CURRENT ASSETS 203,143 187,081
TOTAL ASSETS LESS CURRENT
LIABILITIES

416,663

447,318

CREDITORS
Amounts falling due after more than one
year

9

(29,138

)

(56,582

)

PROVISIONS FOR LIABILITIES 12 (17,170 ) (16,780 )
NET ASSETS 370,355 373,956

CAPITAL AND RESERVES
Called up share capital 13 300 300
Retained earnings 370,055 373,656
SHAREHOLDERS' FUNDS 370,355 373,956

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30 November 2023.

The members have not required the company to obtain an audit of its financial statements for the year ended 30 November 2023 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.

ASK Rewinds Limited (Registered number: 03670294)

Balance Sheet - continued
30 November 2023


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 27 August 2024 and were signed on its behalf by:





Mr A Whitaker - Director


ASK Rewinds Limited (Registered number: 03670294)

Notes to the Financial Statements
for the Year Ended 30 November 2023


1. STATUTORY INFORMATION

ASK Rewinds 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, excluding discounts, rebates, value added tax and other sales taxes.

Goodwill
Goodwill, being the amount paid in connection with the acquisition of a business in 2005, is being amortised evenly over its estimated useful life of five years.

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.

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.
Freehold property - 4% on cost
Plant and machinery - 10% on reducing balance
Fixtures and fittings - 33% on cost and 10% on reducing balance
Motor vehicles - 25% on reducing balance

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

Cost is calculated using the first-in, first-out method and includes all purchase, transport, and handling costs in bringing stocks to their present location and condition.

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 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.


ASK Rewinds Limited (Registered number: 03670294)

Notes to the Financial Statements - continued
for the Year Ended 30 November 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.

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 14 (2022 - 14 ) .

4. INTANGIBLE FIXED ASSETS
Goodwill
£   
COST
At 1 December 2022
and 30 November 2023 1,000
AMORTISATION
At 1 December 2022
and 30 November 2023 1,000
NET BOOK VALUE
At 30 November 2023 -
At 30 November 2022 -

ASK Rewinds Limited (Registered number: 03670294)

Notes to the Financial Statements - continued
for the Year Ended 30 November 2023


5. TANGIBLE FIXED ASSETS
Fixtures
Freehold Plant and and Motor
property machinery fittings vehicles Totals
£    £    £    £    £   
COST
At 1 December 2022 668,149 91,213 27,099 91,932 878,393
Additions - - 1,875 - 1,875
Disposals - (21,937 ) (2,783 ) - (24,720 )
At 30 November 2023 668,149 69,276 26,191 91,932 855,548
DEPRECIATION
At 1 December 2022 499,861 63,789 22,301 32,205 618,156
Charge for year 26,157 2,744 4,320 14,932 48,153
Eliminated on disposal - (21,498 ) (2,783 ) - (24,281 )
At 30 November 2023 526,018 45,035 23,838 47,137 642,028
NET BOOK VALUE
At 30 November 2023 142,131 24,241 2,353 44,795 213,520
At 30 November 2022 168,288 27,424 4,798 59,727 260,237

Fixed assets, included in the above, which are held under hire purchase contracts are as follows:
Motor
vehicles
£   
COST
At 1 December 2022
and 30 November 2023 60,414
DEPRECIATION
At 1 December 2022 10,310
Charge for year 12,526
At 30 November 2023 22,836
NET BOOK VALUE
At 30 November 2023 37,578
At 30 November 2022 50,104

6. STOCKS
30.11.23 30.11.22
£    £   
Work-in-progress 3,000 3,000
Stock 62,000 60,274
65,000 63,274

ASK Rewinds Limited (Registered number: 03670294)

Notes to the Financial Statements - continued
for the Year Ended 30 November 2023


7. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
30.11.23 30.11.22
£    £   
Trade debtors 220,730 199,862
Other debtors 710 719
Prepayments 14,720 13,826
236,160 214,407

8. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
30.11.23 30.11.22
£    £   
Bank loans and overdrafts 10,000 10,000
Hire purchase contracts (see note 10) 17,445 17,445
Trade creditors 109,568 101,659
Corporation tax 15,590 -
Social security and other taxes 7,617 12,767
VAT 39,147 34,261
Other creditors 6,872 6,872
Directors' current accounts 598 598
Accrued expenses 27,422 31,541
234,259 215,143

9. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
30.11.23 30.11.22
£    £   
Bank loans - 1-2 years 10,000 10,000
Bank loans - 2-5 years 5,834 15,833
Hire purchase contracts (see note 10) 13,304 30,749
29,138 56,582

10. LEASING AGREEMENTS

Minimum lease payments under hire purchase fall due as follows:

30.11.23 30.11.22
£    £   
Net obligations repayable:
Within one year 17,445 17,445
Between one and five years 13,304 30,749
30,749 48,194

ASK Rewinds Limited (Registered number: 03670294)

Notes to the Financial Statements - continued
for the Year Ended 30 November 2023


11. SECURED DEBTS

The following secured debts are included within creditors:

30.11.23 30.11.22
£    £   
Bank loans 25,834 35,833
Hire purchase contracts 30,749 48,194
56,583 84,027

Net obligations under finance lease and hire purchase contracts are secured by fixed charges on the assets concerned.

The bank loan is secured on land and buildings at Units 5-8 Laneside, Off Metcalfe Drive, Altham Industrial Estate, Altham, Accrington.

12. PROVISIONS FOR LIABILITIES
30.11.23 30.11.22
£    £   
Deferred tax 17,170 16,780

Deferred
tax
£   
Balance at 1 December 2022 16,780
Provided during year (4,910 )
Underprovided in prior year 5,300
Balance at 30 November 2023 17,170

13. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 30.11.23 30.11.22
value: £    £   
100 Ordinary £1 100 100
200 A Ordinary £1 200 200
300 300

14. ULTIMATE CONTROLLING PARTY

The ultimate controlling party is Mr A Whitaker.