Company registration number 03377490 (England and Wales)
ASHTONS MANUFACTURING LIMITED
UNAUDITED FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023
PAGES FOR FILING WITH REGISTRAR
ASHTONS MANUFACTURING LIMITED
CONTENTS
Page
Balance sheet
1
Notes to the financial statements
2 - 4
ASHTONS MANUFACTURING LIMITED
BALANCE SHEET
AS AT
31 DECEMBER 2023
31 December 2023
- 1 -
2023
2022
Notes
£
£
£
£
Current assets
Stocks
775
212
Debtors
5
31,266
29,207
Cash at bank and in hand
3,730
4,684
35,771
34,103
Creditors: amounts falling due within one year
6
(46,764)
(47,393)
Net current liabilities
(10,993)
(13,290)
Capital and reserves
Called up share capital
100
100
Share premium account
50,869
50,869
Profit and loss reserves
(61,962)
(64,259)
Total equity
(10,993)
(13,290)

For the financial year ended 31 December 2023 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

The members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476.

The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.

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

The directors of the company have elected not to include a copy of the profit and loss account within the financial statements.true

The financial statements were approved by the board of directors and authorised for issue on 24 September 2024 and are signed on its behalf by:
Mr T Wills
Director
Company registration number 03377490 (England and Wales)
ASHTONS MANUFACTURING LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023
- 2 -
1
Accounting policies
Company information

Ashtons Manufacturing Limited is a private company limited by shares incorporated in England and Wales. The registered office is The Ashton Building, Cortonwood Drive, Brampton, Barnsley, S73 0UF.

1.1
Accounting convention

These financial statements have been prepared in accordance with FRS 102 “The Financial Reporting Standard applicable in the UK and Republic of Ireland” (“FRS 102”) and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime. The disclosure requirements of section 1A of FRS 102 have been applied other than where additional disclosure is required to show a true and fair view.

The financial statements are prepared in sterling, which is the functional currency of the company. Monetary amounts in these financial statements are rounded to the nearest £.

The financial statements have been prepared under the historical cost convention. The principal accounting policies adopted are set out below.

1.2
Going concern

These financial statements are prepared on the going concern basis as the holding company Thomas A Ashton Limited, has agreed to provide financial and other support to the company for the forseeable future.

 

1.3
Turnover

Turnover is recognised at the fair value of the consideration received or receivable for goods and services provided in the normal course of business, and is shown net of VAT and other sales related taxes. The fair value of consideration takes into account trade discounts, settlement discounts and volume rebates.

1.4
Tangible fixed assets

Tangible fixed assets are initially measured at cost and subsequently measured at cost or valuation, net of depreciation and any impairment losses.

Depreciation is recognised so as to write off the cost or valuation of assets less their residual values over their useful lives on the following bases:

Fixtures, fittings & equipment
over 3 to 10 years straight line

The gain or loss arising on the disposal of an asset is determined as the difference between the sale proceeds and the carrying value of the asset, and is credited or charged to profit or loss.

1.5
Stocks

Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell. Cost comprises direct materials and, where applicable, direct labour costs and those overheads that have been incurred in bringing the stocks to their present location and condition.

1.6
Cash at bank and in hand

Cash and cash equivalents are basic financial assets and include cash in hand, deposits held at call with banks, other short-term liquid investments with original maturities of three months or less, and bank overdrafts. Bank overdrafts are shown within borrowings in current liabilities.

Changes in the fair value of derivatives that are designated and qualify as fair value hedges are recognised in profit or loss immediately, together with any changes in the fair value of the hedged asset or liability that are attributable to the hedged risk.

ASHTONS MANUFACTURING LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2023
1
Accounting policies
(Continued)
- 3 -
1.7
Employee benefits

The costs of short-term employee benefits are recognised as a liability and an expense, unless those costs are required to be recognised as part of the cost of stock or fixed assets.

 

The cost of any unused holiday entitlement is recognised in the period in which the employee’s services are received

2
Judgements and key sources of estimation uncertainty

In the application of the company’s accounting policies, the directors are required to make judgements, estimates and assumptions about the carrying amount of assets and liabilities that are not readily apparent from other sources. The estimates and associated assumptions are based on historical experience and other factors that are considered to be relevant. Actual results may differ from these estimates.

 

The estimates and underlying assumptions are reviewed on an ongoing basis. Revisions to accounting estimates are recognised in the period in which the estimate is revised where the revision affects only that period, or in the period of the revision and future periods where the revision affects both current and future periods.

3
Employees

The average monthly number of persons (including directors) employed by the company during the year was:

2023
2022
Number
Number
Total
2
2
4
Tangible fixed assets
Plant and machinery etc
£
Cost
At 1 January 2023 and 31 December 2023
2,258
Depreciation and impairment
At 1 January 2023 and 31 December 2023
2,258
Carrying amount
At 31 December 2023
-
0
At 31 December 2022
-
0
ASHTONS MANUFACTURING LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2023
- 4 -
5
Debtors
2023
2022
Amounts falling due within one year:
£
£
Trade debtors
1,193
1,797
Amounts owed by group undertakings
29,921
27,258
Other debtors
152
152
31,266
29,207
6
Creditors: amounts falling due within one year
2023
2022
£
£
Trade creditors
1,794
1,016
Amounts owed to group undertakings
44,743
45,878
Taxation and social security
73
390
Other creditors
154
109
46,764
47,393
7
Financial commitments, guarantees and contingent liabilities

The company is party to a composite cross guarantee for any overdraft of the holding company and some of its subsidiaries, and also act as a guarantor for bank loans of £758,240 obtained by Ashton Seals Limited.

8
Parent company

The ultimate parent company is Thomas A Ashton Limited, a company registered in England and Wales, and has the registered office of The Ashton Building, Cortonwood Drive, Brampton, Barnsley, S73 0UF

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