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Registration number: 05029701

Ash Developments Limited

Unaudited Filleted Financial Statements

for the Year Ended 31 January 2024

 

Ash Developments Limited

Contents

Company Information

1

Balance Sheet

2

Notes to the Unaudited Financial Statements

3 to 7

 

Ash Developments Limited

Company Information

Director

P A Campbell

Company secretary

Mrs A Campbell

Registered office

4 Beech Grove
Swanland
East Yorkshire
HU14 3QA

 

Ash Developments Limited

(Registration number: 05029701)
Balance Sheet as at 31 January 2024

2024
£

2023
£

Fixed assets

Intangible assets

-

600

Tangible assets

15,631

17,789

15,631

18,389

Current assets

Debtors

3,043

2,254

Cash at bank and in hand

52,206

107,957

55,249

110,211

Creditors: Amounts falling due within one year

(1,137)

(31,607)

Net current assets

54,112

78,604

Total assets less current liabilities

69,743

96,993

Provisions for liabilities

(329)

(216)

Net assets

69,414

96,777

Capital and reserves

Called up share capital

100

100

Retained earnings

69,314

96,677

Shareholders' funds

69,414

96,777

For the financial year ending 31 January 2024 the Company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Director's 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 Director acknowledges his 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 Director has not delivered to the registrar a copy of the Profit and Loss Account.

Approved and authorised by the director on 28 October 2024
 

.........................................
P A Campbell
Director

 

Ash Developments Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 January 2024

1

General information

The company is a private company limited by share capital incorporated in England and Wales and the company registration number is 05029701.

The address of its registered office is:
4 Beech Grove
Swanland
East Yorkshire
HU14 3QA

These financial statements were authorised for issue by the director on 28 October 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 smaller entities - 'The Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland' and the Companies Act 2006 (as applicable to companies subject to the small companies' regime).

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 financial statements are presented in sterling and are rounded to the nearest pound.

Revenue recognition

Turnover comprises the fair value of the consideration received or receivable for the provision of rental services in the ordinary course of the Company’s activities. Turnover is shown net of sales/value added tax, returns, rebates and discounts.

The Company recognises revenue when:
The amount of revenue can be reliably measured;
it is probable that future economic benefits will flow to the entity;
and specific criteria have been met for each of the Company's activities.

Tax

The tax expense for the period comprises current and deferred tax. Tax is recognised in profit or loss, except that a change attributable to an item of income or expense recognised as other comprehensive income is also recognised directly in other comprehensive income.

The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the reporting date in the countries where the company operates and generates taxable income.

 

Ash Developments Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 January 2024

Deferred tax represents the future tax consequences of transactions and events recognised in the financial statements of current and previous periods. It is recognised in respect of all timing differences, with certain exceptions. Timing differences are differences between taxable profits and total comprehensive income as stated in the financial statements that arise from the inclusion of income and expense in tax assessments in periods different from those in which they are recognised in the financial statements. 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.

Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the balance sheet date that are expected to apply to the reversal of timing differences. Deferred tax on revalued non-depreciable tangible fixed assets and investment properties is measured using the rates and allowances that apply to the sale of the asset.

Tangible assets

Tangible assets are stated in the statement of financial position at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.

The cost of tangible assets includes directly attributable incremental costs incurred in their acquisition and installation.

At each reporting date fixed assets are reviewed to determine whether there is any indication that those assets have suffered an impairment loss. If there is an indication of possible impairment, the recoverable amount of any affected asset is estimated and compared with its carrying amount. If the estimated recoverable amount is lower, the carrying amount is reduced to its estimated recoverable amount, and an impairment loss is recognised immediately in the profit and loss account.

If an impairment loss subsequently reverses, the carrying amount of the asset is increased to the revised estimate of its recoverable amount, but not in excess of the amount that would have been determined had no impairment loss has been recognised for the asset in prior years. A reversal of an impairment loss is recognised immediately in the profit and loss account.

Depreciation

Depreciation is charged so as to write off the cost of assets, other than land and properties under construction over their estimated useful lives, as follows:

Asset class

Depreciation method and rate

Equipment, fixtures and fittings

20% on written down value

Office equipment

25% on written down value

Leasehold property improvements

Over the period of the lease

Motor vehicles

25% on written down value

Goodwill

Goodwill arising on the acquisition of an entity represents the excess of the cost of acquisition over the Company’s interest in the net fair value of the identifiable assets, liabilities and contingent liabilities of the entity recognised at the date of acquisition. Goodwill is initially recognised as an asset at cost and is subsequently measured at cost less accumulated amortisation and accumulated impairment losses. Goodwill is held in the currency of the acquired entity and revalued to the closing rate at each reporting period date. Goodwill is amortised over its useful life, which shall not exceed ten years if a reliable estimate of the useful life cannot be made.

Amortisation

Amortisation is provided on intangible assets so as to write off the cost, less any estimated residual value, over their useful life as follows:

Asset class

Amortisation method and rate

Goodwill

20 years straight line

 

Ash Developments Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 January 2024

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.

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.

3

Staff numbers

The average number of persons employed by the Company (including the Director) during the year, was 2 (2023 - 2).

4

Intangible assets

Goodwill
 £

Total
£

Cost or valuation

At 1 February 2023

12,000

12,000

At 31 January 2024

12,000

12,000

Amortisation

At 1 February 2023

11,400

11,400

Amortisation charge

600

600

At 31 January 2024

12,000

12,000

Carrying amount

At 31 January 2024

-

-

At 31 January 2023

600

600

 

Ash Developments Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 January 2024

5

Tangible assets

Long leasehold land and buildings
£

Fixtures and fittings
£

Office equipment
£

Motor vehicles
 £

Total
£

Cost or valuation

At 1 February 2023

30,454

31,260

931

7,300

69,945

At 31 January 2024

30,454

31,260

931

7,300

69,945

Depreciation

At 1 February 2023

15,036

30,313

805

6,002

52,156

Charge for the year

1,523

279

31

325

2,158

At 31 January 2024

16,559

30,592

836

6,327

54,314

Carrying amount

At 31 January 2024

13,895

668

95

973

15,631

At 31 January 2023

15,418

947

126

1,298

17,789

Included within the net book value of land and buildings above is £13,895 (2023 - £15,418) in respect of long leasehold property improvements.
 

6

Debtors

Note

2024
£

2023
£

Other debtors

 

309

226

Income tax asset

2,734

2,028

 

3,043

2,254

7

Creditors

Creditors: amounts falling due within one year

Note

2024
£

2023
£

Due within one year

 

Loans and borrowings

8

51

28,132

Taxation and social security

 

40

2,479

Accruals and deferred income

 

1,046

996

 

1,137

31,607

 

Ash Developments Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 January 2024

8

Loans and borrowings

Current loans and borrowings

2024
£

2023
£

Other borrowings

51

28,132

Other borrowings included unsecured amounts due to Directors

9

Related party transactions

Other transactions with directors

At the year end, the company owed the director £51 (2023: £28,132). These amounts are unsecured, interest free and repayable on demand.