Ashworth Filament Yarns Limited 07417606 false 2023-01-01 2023-12-31 2023-12-31 The principal activity of the company is to act as a holding company for its subsidiary J.H. Ashworth & Son Limited Digita Accounts Production Advanced 6.30.9574.0 false true true 07417606 2023-01-01 2023-12-31 07417606 2023-12-31 07417606 bus:OrdinaryShareClass1 2023-12-31 07417606 bus:OrdinaryShareClass2 2023-12-31 07417606 core:CurrentFinancialInstruments 2023-12-31 07417606 core:CurrentFinancialInstruments core:WithinOneYear 2023-12-31 07417606 bus:SmallEntities 2023-01-01 2023-12-31 07417606 bus:AuditExemptWithAccountantsReport 2023-01-01 2023-12-31 07417606 bus:FilletedAccounts 2023-01-01 2023-12-31 07417606 bus:SmallCompaniesRegimeForAccounts 2023-01-01 2023-12-31 07417606 bus:RegisteredOffice 2023-01-01 2023-12-31 07417606 bus:CompanySecretaryDirector1 2023-01-01 2023-12-31 07417606 bus:Director2 2023-01-01 2023-12-31 07417606 bus:Director3 2023-01-01 2023-12-31 07417606 bus:Director4 2023-01-01 2023-12-31 07417606 bus:OrdinaryShareClass1 2023-01-01 2023-12-31 07417606 bus:OrdinaryShareClass2 2023-01-01 2023-12-31 07417606 bus:PrivateLimitedCompanyLtd 2023-01-01 2023-12-31 07417606 core:AllSubsidiaries 2023-01-01 2023-12-31 07417606 core:OtherRelatedParties 2023-01-01 2023-12-31 07417606 core:Subsidiary1 2023-01-01 2023-12-31 07417606 core:Subsidiary1 1 2023-01-01 2023-12-31 07417606 core:Subsidiary1 countries:England 2023-01-01 2023-12-31 07417606 countries:EnglandWales 2023-01-01 2023-12-31 07417606 core:CostValuation 2022-12-31 07417606 2022-01-01 2022-12-31 07417606 2022-12-31 07417606 bus:OrdinaryShareClass1 2022-12-31 07417606 bus:OrdinaryShareClass2 2022-12-31 07417606 core:CurrentFinancialInstruments 2022-12-31 07417606 core:CurrentFinancialInstruments core:WithinOneYear 2022-12-31 07417606 core:Subsidiary1 1 2022-01-01 2022-12-31 iso4217:GBP xbrli:pure xbrli:shares

Registration number: 07417606

Ashworth Filament Yarns Limited

Unaudited Filleted Financial Statements

for the Year Ended 31 December 2023

 

Ashworth Filament Yarns Limited

Contents

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

3 to 7

 

Ashworth Filament Yarns Limited

Company Information

Directors

Ms C Ashworth

Mr JD Ashworth

Mr RF Ashworth

Ms E Ashworth

Company secretary

Ms C Ashworth

Registered office

Kingston Mills
Manchester Road
Hyde
Cheshire
SK14 2BZ

Accountants

Horne Brooke Shenton
Chartered Accountants
15 Olympic Court Boardmans Way
Whitehills Business Park
Blackpool
FY4 5GU

 

Ashworth Filament Yarns Limited

(Registration number: 07417606)
Balance Sheet as at 31 December 2023

Note

2023
£

2022
£

Fixed Assets

 

Investments

4

1,407,110

1,407,110

Current assets

 

Debtors

5

36

36

Cash at bank and in hand

 

968

968

 

1,004

1,004

Creditors: Amounts falling due within one year

6

(104)

(104)

Net current assets

 

900

900

Net assets

 

1,408,010

1,408,010

Capital and Reserves

 

Called up share capital

7

1,000

1,000

Retained Earnings

1,407,010

1,407,010

Shareholders' funds

 

1,408,010

1,408,010

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

Directors' responsibilities:

The members have not required the company to obtain an audit of its accounts for the year in question in accordance with section 476; and

The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

These financial statements have been prepared in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006.

These financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime. As permitted by section 444 (5A) of the Companies Act 2006, the directors have not delivered to the registrar a copy of the Profit and Loss Account.

Approved and authorised by the Board on 25 September 2024 and signed on its behalf by:
 

.........................................

Ms E Ashworth

Director

 

Ashworth Filament Yarns Limited

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

1

General information

The company is a private company limited by share capital, incorporated in England and Wales.

The address of its registered office is:
Kingston Mills
Manchester Road
Hyde
Cheshire
SK14 2BZ
England

These financial statements were authorised for issue by the Board on 25 September 2024.

2

Accounting policies

Summary of significant accounting policies and key accounting estimates

The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.

Statement of compliance

These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A - 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' and the Companies Act 2006.

Basis of preparation

These financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.

The presentation currency is £ sterling.

Group accounts not prepared

The company is part of a small group. The company has taken advantage of the exemption provided by Section 398 of the Companies Act 2006 and has not prepared group accounts.

Going concern

The financial statements have been prepared on a going concern basis.

Business combinations

Business combinations are accounted for using the purchase method. The consideration for each acquisition is measured at the aggregate of the fair values at acquisition date of assets given, liabilities incurred or assumed, and equity instruments issued by the group in exchange for control of the acquired, plus any costs directly attributable to the business combination. When a business combination agreement provides for an adjustment to the cost of the combination contingent on future events, the group includes the estimated amount of that adjustment in the cost of the combination at the acquisition date if the adjustment is probable and can be measured reliably.

Investments

Investments in subsidiaries are stated at cost less provision for any impairment.

 

Ashworth Filament Yarns Limited

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

Cash and cash equivalents

Cash and cash equivalents comprise cash on hand and call deposits, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value.

Trade Debtors

Trade Debtors are amounts due from customers for merchandise sold or services performed in the ordinary course of business.

Trade Debtors are recognised initially at the transaction price. They are subsequently measured at amortised cost using the effective interest method, less provision for impairment. A provision for the impairment of trade debtors is established when there is objective evidence that the company will not be able to collect all amounts due according to the original terms of the receivables.

Trade Creditors

Trade Creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Accounts payable are classified as current liabilities if the company does not have an unconditional right, at the end of the reporting period, to defer settlement of the creditor for at least twelve months after the reporting date. If there is an unconditional right to defer settlement for at least twelve months after the reporting date, they are presented as non-current liabilities.

Trade Creditors are recognised initially at the transaction price and subsequently measured at amortised cost using the effective interest method.

Share capital

Ordinary shares are classified as equity. Equity instruments are measured at the fair value of the cash or other resources received or receivable, net of the direct costs of issuing the equity instruments. If payment is deferred and the time value of money is material, the initial measurement is on a present value basis.

Dividends

Dividend distribution to the company’s shareholders is recognised as a liability in the financial statements in the reporting period in which the dividends are declared.

Financial instruments

Recognition and measurement
Basic financial instruments are recognised at amortised cost, except for investments in non-convertible preference and non-puttable ordinary shares which are measured at fair value, with changes recognised in profit and loss. Derivative financial instruments are initially recorded at cost and thereafter at fair value with changes recognised in profit and loss.
 

3

Staff numbers

The average number of persons employed by the company (including directors) during the year, was 4 (2022 - 4).

4

Investments

2023
£

2022
£

Investments in subsidiaries

1,407,110

1,407,110

 

Ashworth Filament Yarns Limited

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

Subsidiaries

£

Cost or valuation

At 1 January 2023

1,407,110

Provision

Carrying amount

At 31 December 2023

1,407,110

At 31 December 2022

1,407,110

Details of undertakings

Details of the investments (including principal place of business of unincorporated entities) in which the company holds 20% or more of the nominal value of any class of share capital are as follows:

Undertaking

Registered office

Holding

Proportion of voting rights and shares held

2023

2022

Subsidiary undertakings

J.H. Ashworth and Son Limited

Kingston Mills
Manchester Road
Hyde
Chshire
SK14 2BZ

England

Ordinary

100%

100%

The principal activity of J.H. Ashworth & Son Limited is Yarn Manufacturers

 

Ashworth Filament Yarns Limited

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

5

Debtors

Current

Note

2023
£

2022
£

Amounts owed by related parties

9

36

36

   

36

36

6

Creditors

Creditors: amounts falling due within one year

2023
£

2022
£

Due within one year

Directors loan account

100

100

Other creditors

4

4

104

104

 

Ashworth Filament Yarns Limited

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

7

Share capital

Allotted, called up and fully paid shares

2023

2022

No.

£

No.

£

Ordinary of £1 each

900

900

900

900

Ordinary A of £1 each

100

100

100

100

1,000

1,000

1,000

1,000

8

Dividends

   

2023

 

2022

   

£

 

£

Dividends paid

 

110,333

 

108,000

         

9

Related party transactions

Summary of transactions with subsidiaries

J H Ashworth & Son Limited
 Wholly owned subsidiary
  An intercompany dividend of £110,333 was paid during the period between JH Ashworth & Son Limited and Ashworth Filament Yarns Limited.

At the balance sheet date the amount due from JH Ashworth & Son Limited was £36 (2022:£36).

Summary of transactions with other related parties

Transactions with directors
 Dividends paid
During the year dividends of £110,333 (2022:£108,000) were paid to the directors