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REGISTERED NUMBER: 06861193 (England and Wales)








FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MARCH 2024

FOR

ASHBANK NORTH & CO LIMITED

ASHBANK NORTH & CO LIMITED (REGISTERED NUMBER: 06861193)

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


ASHBANK NORTH & CO LIMITED

COMPANY INFORMATION
FOR THE YEAR ENDED 31 MARCH 2024







DIRECTOR: D Day





REGISTERED OFFICE: 3 Durrant Road
Bournemouth
Dorset
BH2 6NE





REGISTERED NUMBER: 06861193 (England and Wales)





ACCOUNTANTS: Carter & Coley
Chartered Accountants
3 Durrant Road
Bournemouth
Dorset
BH2 6NE

ASHBANK NORTH & CO LIMITED (REGISTERED NUMBER: 06861193)

BALANCE SHEET
31 MARCH 2024

2024 2023
Notes £    £    £    £   
FIXED ASSETS
Intangible assets 4 - -
Tangible assets 5 118,112 83,789
Investments 6 12,886 -
130,998 83,789

CURRENT ASSETS
Debtors 7 31,517 3,487
Cash at bank 15,312 9,634
46,829 13,121
CREDITORS
Amounts falling due within one year 8 87,684 36,521
NET CURRENT LIABILITIES (40,855 ) (23,400 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

90,143

60,389

CREDITORS
Amounts falling due after more than one
year

9

(25,568

)

(32,568

)

PROVISIONS FOR LIABILITIES (12,803 ) (1,017 )
NET ASSETS 51,772 26,804

ASHBANK NORTH & CO LIMITED (REGISTERED NUMBER: 06861193)

BALANCE SHEET - continued
31 MARCH 2024

2024 2023
Notes £    £    £    £   
CAPITAL AND RESERVES
Called up share capital 1 1
Retained earnings 51,771 26,803
SHAREHOLDERS' FUNDS 51,772 26,804

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 director acknowledges his 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.

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 director and authorised for issue on 9 May 2024 and were signed by:





D Day - Director


ASHBANK NORTH & CO LIMITED (REGISTERED NUMBER: 06861193)

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


1. STATUTORY INFORMATION

Ashbank North & Co 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 in connection with the acquisition of the business has been wholly amortised.

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.

Computer software is being amortised evenly over its estimated useful life of three years.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off the cost less estimated residual value of each asset over its estimated useful life.
Fixtures and fittings - 25% on reducing balance
Computer equipment - 25% on reducing balance

Fixed assets are initially recorded at cost.

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.

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.

ASHBANK NORTH & CO LIMITED (REGISTERED NUMBER: 06861193)

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


3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 2 (2023 - 2 ) .

4. INTANGIBLE FIXED ASSETS
Computer
Goodwill software Totals
£    £    £   
COST
At 1 April 2023
and 31 March 2024 40,000 1,840 41,840
AMORTISATION
At 1 April 2023
and 31 March 2024 40,000 1,840 41,840
NET BOOK VALUE
At 31 March 2024 - - -
At 31 March 2023 - - -

5. TANGIBLE FIXED ASSETS
Fixtures
Plant and and Motor Computer
machinery fittings vehicles equipment Totals
£    £    £    £    £   
COST
At 1 April 2023 77,363 3,847 39,326 4,338 124,874
Additions 67,843 - 4,097 1,752 73,692
At 31 March 2024 145,206 3,847 43,423 6,090 198,566
DEPRECIATION
At 1 April 2023 26,360 3,374 9,832 1,519 41,085
Charge for year 29,711 118 8,397 1,143 39,369
At 31 March 2024 56,071 3,492 18,229 2,662 80,454
NET BOOK VALUE
At 31 March 2024 89,135 355 25,194 3,428 118,112
At 31 March 2023 51,003 473 29,494 2,819 83,789

ASHBANK NORTH & CO LIMITED (REGISTERED NUMBER: 06861193)

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


6. FIXED ASSET INVESTMENTS
Other
investments
£   
COST
Additions 12,886
At 31 March 2024 12,886
NET BOOK VALUE
At 31 March 2024 12,886

7. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Trade debtors 6,663 -
Other debtors 24,854 3,487
31,517 3,487

8. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Bank loans and overdrafts 7,000 7,000
Taxation and social security - 1,781
Other creditors 80,684 27,740
87,684 36,521

9. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN
ONE YEAR
2024 2023
£    £   
Bank loans 8,750 15,750
Other creditors 16,818 16,818
25,568 32,568

Amounts falling due in more than five years:

Repayable by instalments
Other loans more 5yrs instal 16,818 16,818

ASHBANK NORTH & CO LIMITED (REGISTERED NUMBER: 06861193)

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


10. RELATED PARTY DISCLOSURES

TRANSACTIONS WITH COMPANIES UNDER COMMON CONTROL

Non interest bearing loans on which no terms of repayment have been agreed. The amount due to companies under common control at the balance sheet date amounted to £79,308 (2023 - £25,653).