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REGISTERED NUMBER: 01973153 (England and Wales)













UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MARCH 2024

FOR

ASHFORD COMMERCIAL LIMITED

ASHFORD COMMERCIAL LIMITED (REGISTERED NUMBER: 01973153)






CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


ASHFORD COMMERCIAL LIMITED

COMPANY INFORMATION
FOR THE YEAR ENDED 31 MARCH 2024







DIRECTORS: M J Neale
Miss L M Neale



SECRETARY:



REGISTERED OFFICE: 7 Folgate Road
Lyngate Industrial Estate
North Walsham
Norfolk
NR28 0AW



REGISTERED NUMBER: 01973153 (England and Wales)



BANKERS: Barclays Bank plc
PO Box 103
Wymondham
Norfolk
NR18 0UX

ASHFORD COMMERCIAL LIMITED (REGISTERED NUMBER: 01973153)

BALANCE SHEET
31 MARCH 2024

2024 2023
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 97,102 104,239
Investments 5 40,198 40,198
137,300 144,437

CURRENT ASSETS
Stocks 169,858 153,028
Debtors 6 2,312,402 2,666,248
Cash at bank and in hand 317 388
2,482,577 2,819,664
CREDITORS
Amounts falling due within one year 7 960,790 1,013,630
NET CURRENT ASSETS 1,521,787 1,806,034
TOTAL ASSETS LESS CURRENT LIABILITIES 1,659,087 1,950,471

CREDITORS
Amounts falling due after more than one
year

8

(79,167

)

(485,810

)

PROVISIONS FOR LIABILITIES (17,463 ) (19,473 )
NET ASSETS 1,562,457 1,445,188

CAPITAL AND RESERVES
Called up share capital 50 50
Capital redemption reserve 50 50
Retained earnings 1,562,357 1,445,088
SHAREHOLDERS' FUNDS 1,562,457 1,445,188

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

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

ASHFORD COMMERCIAL LIMITED (REGISTERED NUMBER: 01973153)

BALANCE SHEET - continued
31 MARCH 2024


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 9 September 2024 and were signed on its behalf by:





M J Neale - Director


ASHFORD COMMERCIAL LIMITED (REGISTERED NUMBER: 01973153)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024

1. STATUTORY INFORMATION

Ashford Commercial Limited is a private company, limited by shares, incorporated and registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page. The figures in the financial statements have been prepared in pounds sterling and are rounded to the nearest £.

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" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.

Revenue
Revenue is recognised to the extent that it is probable that the economic benefits will flow to the Company and the revenue can be reliably measured. Revenue is measured as the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. The following criteria must also be met before revenue is recognised:

Sale of goods:
Revenue from the manufacture and installation of windows and doors is recognised when all of the following conditions are satisfied:
- the Company has transferred the significant risks and rewards of ownership to the buyer;
- the Company retains neither continuing managerial involvement to the degree usually associated with
ownership nor effective control over the goods sold;
- the amount of revenue can be measured reliably;
- it is probable that the Company will receive the consideration due under the transaction; and
- the costs incurred or to be incurred in respect of the transaction can be measured reliably.

Tangible fixed assets
Tangible fixed assets under the cost model, other than investment properties, are stated at historical cost less accumulated depreciation and any accumulated impairment losses. Historical cost includes expenditure that is directly attributable to bringing the asset to the location and condition necessary for it to be capable of operating in the manner intended by management.

Depreciation is charged so as to allocate the cost of assets less their residual value over their estimated useful lives, using both straight line and reducing balance methods.

Depreciation is provided on the following basis:

- Plant and machinery - 15% on cost
- Fixtures and fittings - 15% on reducing balance
- Motor vehicles - 25% on reducing balance
- Computer equipment - 33% on cost


Investment property
Investment property is carried at fair value determined annually by external valuers and derived from the current market rents and investment property yields for comparable real estate, adjusted if necessary for any difference in the nature, location or condition of the specific asset. No depreciation is provided. Changes in fair value are recognised in the Profit and Loss Account.

ASHFORD COMMERCIAL LIMITED (REGISTERED NUMBER: 01973153)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 MARCH 2024

2. ACCOUNTING POLICIES - continued

Stocks and work in progress
Stocks are stated at the lower of cost and net realisable value, being the estimated selling price less costs to complete and sell. Cost is based on the cost of purchase on a first in, first out basis. Work in progress and finished goods include labour and attributable overheads.

At each balance sheet date, stocks are assessed for impairment. If stock is impaired, the carrying amount is reduced to its selling price less costs to complete and sell. The impairment loss is recognised immediately in the Profit and Loss Account.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 40 (2023 - 40 ) .

4. TANGIBLE FIXED ASSETS
Plant and
machinery
etc
£   
COST
At 1 April 2023 1,058,949
Additions 44,047
Disposals (18,340 )
At 31 March 2024 1,084,656
DEPRECIATION
At 1 April 2023 954,710
Charge for year 42,162
Eliminated on disposal (9,318 )
At 31 March 2024 987,554
NET BOOK VALUE
At 31 March 2024 97,102
At 31 March 2023 104,239

ASHFORD COMMERCIAL LIMITED (REGISTERED NUMBER: 01973153)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 MARCH 2024

5. FIXED ASSET INVESTMENTS
Other
investments
£   
COST
At 1 April 2023
and 31 March 2024 183,918
PROVISIONS
At 1 April 2023
and 31 March 2024 143,720
NET BOOK VALUE
At 31 March 2024 40,198
At 31 March 2023 40,198

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Trade debtors 689,067 361,334
Amounts recoverable on
contracts 1,558,961 2,251,070
Other debtors 64,374 53,844
2,312,402 2,666,248

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Bank loans and overdrafts 131,875 249,468
Hire purchase contracts - 28,974
Trade creditors 388,037 563,942
Taxation and social security 204,928 38,491
Other creditors 235,950 132,755
960,790 1,013,630

8. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR
2024 2023
£    £   
Bank loans 79,167 129,167
Other creditors - 356,643
79,167 485,810

ASHFORD COMMERCIAL LIMITED (REGISTERED NUMBER: 01973153)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 MARCH 2024

9. SECURED DEBTS

The following secured debts are included within creditors:

2024 2023
£    £   
Bank overdrafts 81,875 199,468
Bank loans 129,167 179,167
Hire purchase contracts - 28,974
211,042 407,609

Obligations under hire purchase contracts and finance leases are secured on the assets acquired.

The bank overdraft is secured by a fixed charge on land owned by the company, a floating charge over the company's assets and on freehold property owned by the directors.