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REGISTERED NUMBER: 06968861 (England and Wales)









ASHBURTON GROUP LIMITED

UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 JANUARY 2024






ASHBURTON GROUP LIMITED (REGISTERED NUMBER: 06968861)






CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JANUARY 2024




Page

Company Information 1

Abridged Balance Sheet 2

Notes to the Financial Statements 4


ASHBURTON GROUP LIMITED

COMPANY INFORMATION
FOR THE YEAR ENDED 31 JANUARY 2024







DIRECTORS: Mrs S West-Harling MBE
Mr D O'Nions
Mr D Hosegrove
Mr J R Crabtree





REGISTERED OFFICE: Old Exeter Road
Ashburton
Newton Abbot
Devon
TQ13 7LG





REGISTERED NUMBER: 06968861 (England and Wales)





ACCOUNTANTS: Mark Holt & Co Limited
Chartered Accountants
7 Sandy Court
Ashleigh Way
Langage Business Park
Plymouth
Devon
PL7 5JX

ASHBURTON GROUP LIMITED (REGISTERED NUMBER: 06968861)

ABRIDGED BALANCE SHEET
31 JANUARY 2024

2024 2023
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 5 1,311,268 1,311,268
Investments 6 475,039 475,039
1,786,307 1,786,307

CURRENT ASSETS
Debtors 915,737 524,201
Cash at bank 103,186 345,003
1,018,923 869,204
CREDITORS
Amounts falling due within one year 1,892,458 1,715,840
NET CURRENT LIABILITIES (873,535 ) (846,636 )
TOTAL ASSETS LESS CURRENT LIABILITIES 912,772 939,671

CREDITORS
Amounts falling due after more than one year 7 242,819 260,052
NET ASSETS 669,953 679,619

CAPITAL AND RESERVES
Called up share capital 111 111
Share premium 809 809
Retained earnings 669,033 678,699
SHAREHOLDERS' FUNDS 669,953 679,619

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 January 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 January 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.

ASHBURTON GROUP LIMITED (REGISTERED NUMBER: 06968861)

ABRIDGED BALANCE SHEET - continued
31 JANUARY 2024


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

All the members have consented to the preparation of an abridged Balance Sheet for the year ended 31 January 2024 in accordance with Section 444(2A) of the Companies Act 2006.

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 31 October 2024 and were signed on its behalf by:





Mr D O'Nions - Director


ASHBURTON GROUP LIMITED (REGISTERED NUMBER: 06968861)

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

1. STATUTORY INFORMATION

Ashburton Group 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.

The presentation currency of the financial statements is the Pound Sterling (£).


2. STATEMENT OF COMPLIANCE

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.

3. ACCOUNTING POLICIES

Basis of preparing the financial statements
These financial statements have been prepared in accordance with the provisions of Section 1A "Small Entities" of Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.

Tangible fixed assets
Freehold property is held at cost. This property is not depreciated because its value as shown in the accounts is expected to reflect the residual value of the property, unless any indication of impairment has been identified.

The property will be reviewed for any indication of impairment annually.

Impairment of assets
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 estimated recoverable amount is lower, the carrying amount is reduced to its estimated recoverable amount, and an impairment loss is recognised immediately in profit or loss.

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 been recognised for the asset in prior years. A reversal of an impairment loss is recognised immediately in profit or loss.

Debtors
Short term debtors are measured at transaction price, less any impairment.

Creditors
Short term creditors are measured at the transaction price. Other financial liabilities, including bank loans, are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method.

Taxation
Current tax is recognised for the amount of income tax payable in respect of the taxable profit for the current or past reporting periods using the tax rates and laws that have been enacted or substantively enacted by the reporting date.

Deferred tax is recognised in respect of all timing differences at the reporting date, except as otherwise indicated.

Deferred tax assets are only recognised to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits. If and when all conditions for retaining tax allowances for the cost of a fixed asset have been met, the deferred tax is reversed.

Deferred tax is calculated using the tax rates and laws that have been enacted or substantively enacted by the reporting date that are expected to apply to the reversal of the timing difference.

The tax expense (income) is presented either in profit or loss, other comprehensive income or equity depending on the transaction that resulted in the tax expense (income).

ASHBURTON GROUP LIMITED (REGISTERED NUMBER: 06968861)

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

3. ACCOUNTING POLICIES - continued

Investments
Fixed asset investments relate to investments in the subsidiary, and are stated at cost less any provision for any permanent diminution in value.

Investments are reviewed for impairment on an annual basis.

Provisions for liabilities
Provisions are recognised when the Company has a present (legal or constructive) obligation as a result of a past event; it is probable that an outflow of resources will be required to settle the obligation; and the amount of the obligation can be estimated reliably.

The amount recognised as a provision is the best estimate of the consideration required to settle the present obligation at the end of the reporting period, taking into account the risks and uncertainties surrounding the obligation.

Where the effect of the time value of money is material, the amount expected to be required to settle the obligation is recognised at present value using a pre-tax discount rate. The unwinding of the discount is recognised as a finance cost in profit or loss in the period it arises.

4. EMPLOYEES AND DIRECTORS

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

5. TANGIBLE FIXED ASSETS
Totals
£   
COST
At 1 February 2023
and 31 January 2024 1,311,268
NET BOOK VALUE
At 31 January 2024 1,311,268
At 31 January 2023 1,311,268

6. FIXED ASSET INVESTMENTS

Information on investments other than loans is as follows:
Totals
£   
COST
At 1 February 2023
and 31 January 2024 475,039
NET BOOK VALUE
At 31 January 2024 475,039
At 31 January 2023 475,039

7. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN FIVE YEARS
2024 2023
£    £   
Repayable by instalments
Bank loans more than 5 years 132,139 100,240

ASHBURTON GROUP LIMITED (REGISTERED NUMBER: 06968861)

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

8. SECURED DEBTS

The following secured debts are included within creditors:

2024 2023
£    £   
Bank loans 270,489 289,161

Bank loans represent the mortgage over the freehold property. The loan is therefore secured on the freehold property.

9. DIRECTORS' ADVANCES, CREDITS AND GUARANTEES

During the year the company made loans to 4 of the directors, these were as follows;

One director was advanced amounts of £627 during the year (2023: £2,524) and repaid amounts of £1,200 (2023: £4,100). At the year-end the directors loan account was overdrawn by £3,476 (2023: £4,049 overdrawn). The loan has been fully repaid within 9 months of the year-end.

A second director was advanced amounts of £240 during the year (2023: £2,285) and repaid amounts of £240 (2023: £2,400). At the year-end the directors loan account was overdrawn by £240 (2023: £240 overdrawn). The loan has been fully repaid within 9 months of the year-end.

The third director with a loan outstanding, has amounts advanced of £16,232 (2023: £7,641) during the year and repaid amounts £563 (2023: £3,149). At the year-end the directors loan account was overdrawn by £20,909 (2023: £5,240 overdrawn). Interest has been charged on this loan at a rate of 2.25%. The loan has been fully repaid within 9 months of the year-end.

The fourth director with a loan outstanding, has amounts advanced of £56,470 (2023: £36,154) during the year and repaid amounts £43,454 (2023: £31,305). At the year-end the directors loan account was overdrawn by £20,617 (2023: £7,601 overdrawn). Interest has been charged on this loan at a rate of 2.25%. The loan has been fully repaid within 9 months of the year-end.