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REGISTERED NUMBER: 01707722 (England and Wales)















UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2024

FOR

ASHVIN METALS (MIDLANDS) LIMITED

ASHVIN METALS (MIDLANDS) LIMITED (REGISTERED NUMBER: 01707722)






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


ASHVIN METALS (MIDLANDS) LIMITED

COMPANY INFORMATION
for the year ended 31 March 2024







DIRECTORS: A B Dixon
J Howarth
I D Swinson





REGISTERED OFFICE: Kings Court
Beacon Road
Poulton Industrial Estate
Poulton Le Fylde
Lancashire
FY6 8JE





REGISTERED NUMBER: 01707722 (England and Wales)





ACCOUNTANTS: Jones Harris Limited
17 St Peters Place
Fleetwood
Lancashire
FY7 6EB

ASHVIN METALS (MIDLANDS) LIMITED (REGISTERED NUMBER: 01707722)

BALANCE SHEET
31 March 2024

2024 2023
Notes £    £   
FIXED ASSETS
Tangible assets 4 979,084 951,131

CURRENT ASSETS
Stocks 761,094 883,081
Debtors 5 1,000,309 890,504
Cash at bank 11,058 105,843
1,772,461 1,879,428
CREDITORS
Amounts falling due within one year 6 (744,506 ) (763,010 )
NET CURRENT ASSETS 1,027,955 1,116,418
TOTAL ASSETS LESS CURRENT
LIABILITIES

2,007,039

2,067,549

CREDITORS
Amounts falling due after more than one
year

7

(219,193

)

(237,319

)

PROVISIONS FOR LIABILITIES (240,245 ) (214,754 )
NET ASSETS 1,547,601 1,615,476

CAPITAL AND RESERVES
Called up share capital 85,100 85,100
Share premium 425,000 425,000
Capital redemption reserve 5,000 5,000
Retained earnings 1,032,501 1,100,376
1,547,601 1,615,476

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.

ASHVIN METALS (MIDLANDS) LIMITED (REGISTERED NUMBER: 01707722)

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 20 September 2024 and were signed on its behalf by:





I D Swinson - Director


ASHVIN METALS (MIDLANDS) LIMITED (REGISTERED NUMBER: 01707722)

NOTES TO THE FINANCIAL STATEMENTS
for the year ended 31 March 2024

1. STATUTORY INFORMATION

Ashvin Metals (Midlands) 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.

Going concern
The directors are satisfied at the time of approving the financial statements that the company has adequate resources to continue to operate for the foreseeable future and as such, continues to adopt the going concern basis in preparing the financial statements.

Turnover
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Plant and machinery - 15% on reducing balance
Fixtures and fittings - 15% on reducing balance
Motor vehicles - 25% on reducing balance
Computer equipment - 20% on cost

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.

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
Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease.

ASHVIN METALS (MIDLANDS) LIMITED (REGISTERED NUMBER: 01707722)

NOTES TO THE FINANCIAL STATEMENTS - continued
for the year ended 31 March 2024

2. ACCOUNTING POLICIES - continued

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 11 (2023 - 14 ) .

4. TANGIBLE FIXED ASSETS
Fixtures
Plant and and Motor Computer
machinery fittings vehicles equipment Totals
£    £    £    £    £   
COST
At 1 April 2023 1,658,328 64,067 50,150 9,284 1,781,829
Additions 19,810 14,726 156,016 - 190,552
Disposals - - (17,000 ) - (17,000 )
At 31 March 2024 1,678,138 78,793 189,166 9,284 1,955,381
DEPRECIATION
At 1 April 2023 759,122 48,939 18,960 3,677 830,698
Charge for year 135,716 2,819 11,050 1,859 151,444
Eliminated on disposal - - (5,845 ) - (5,845 )
At 31 March 2024 894,838 51,758 24,165 5,536 976,297
NET BOOK VALUE
At 31 March 2024 783,300 27,035 165,001 3,748 979,084
At 31 March 2023 899,206 15,128 31,190 5,607 951,131

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Trade debtors 819,161 795,228
Other debtors 181,148 95,276
1,000,309 890,504

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Hire purchase contracts 146,618 119,370
Trade creditors 464,853 458,401
Taxation and social security 48,539 9,032
Other creditors 84,496 176,207
744,506 763,010

ASHVIN METALS (MIDLANDS) LIMITED (REGISTERED NUMBER: 01707722)

NOTES TO THE FINANCIAL STATEMENTS - continued
for the year ended 31 March 2024

7. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
2024 2023
£    £   
Hire purchase contracts 219,193 237,319

8. ULTIMATE CONTROLLING PARTY

AML Newco Limited is the immediate parent and controlling party of the company, there is no one ultimate controlling party.