Silverfin false false 30/04/2024 01/05/2023 30/04/2024 Jade Boyles-White 01/11/2015 Mark Jonathan Daniel Cox 02/09/2013 Emma Louise Foreman 22/01/2024 Lucy Anne Griffin 01/08/2022 William Benjamin Smith 02/09/2013 30 October 2024 The principal activity of the Company during the financial year was that of estate and letting agents. 08671512 2024-04-30 08671512 bus:Director1 2024-04-30 08671512 bus:Director2 2024-04-30 08671512 bus:Director3 2024-04-30 08671512 bus:Director4 2024-04-30 08671512 bus:Director5 2024-04-30 08671512 2023-04-30 08671512 core:CurrentFinancialInstruments 2024-04-30 08671512 core:CurrentFinancialInstruments 2023-04-30 08671512 core:Non-currentFinancialInstruments 2024-04-30 08671512 core:Non-currentFinancialInstruments 2023-04-30 08671512 core:ShareCapital 2024-04-30 08671512 core:ShareCapital 2023-04-30 08671512 core:OtherCapitalReserve 2024-04-30 08671512 core:OtherCapitalReserve 2023-04-30 08671512 core:RetainedEarningsAccumulatedLosses 2024-04-30 08671512 core:RetainedEarningsAccumulatedLosses 2023-04-30 08671512 core:Goodwill 2023-04-30 08671512 core:ComputerSoftware 2023-04-30 08671512 core:Goodwill 2024-04-30 08671512 core:ComputerSoftware 2024-04-30 08671512 core:LandBuildings 2023-04-30 08671512 core:LeaseholdImprovements 2023-04-30 08671512 core:PlantMachinery 2023-04-30 08671512 core:FurnitureFittings 2023-04-30 08671512 core:OfficeEquipment 2023-04-30 08671512 core:LandBuildings 2024-04-30 08671512 core:LeaseholdImprovements 2024-04-30 08671512 core:PlantMachinery 2024-04-30 08671512 core:FurnitureFittings 2024-04-30 08671512 core:OfficeEquipment 2024-04-30 08671512 core:CostValuation 2023-04-30 08671512 core:DisposalsRepaymentsInvestments 2024-04-30 08671512 core:CostValuation 2024-04-30 08671512 core:CurrentFinancialInstruments core:Secured 2024-04-30 08671512 core:MoreThanFiveYears 2024-04-30 08671512 core:MoreThanFiveYears 2023-04-30 08671512 2022-04-30 08671512 bus:OrdinaryShareClass1 2024-04-30 08671512 2023-05-01 2024-04-30 08671512 bus:FilletedAccounts 2023-05-01 2024-04-30 08671512 bus:SmallEntities 2023-05-01 2024-04-30 08671512 bus:AuditExemptWithAccountantsReport 2023-05-01 2024-04-30 08671512 bus:PrivateLimitedCompanyLtd 2023-05-01 2024-04-30 08671512 bus:Director1 2023-05-01 2024-04-30 08671512 bus:Director2 2023-05-01 2024-04-30 08671512 bus:Director3 2023-05-01 2024-04-30 08671512 bus:Director4 2023-05-01 2024-04-30 08671512 bus:Director5 2023-05-01 2024-04-30 08671512 core:Goodwill core:TopRangeValue 2023-05-01 2024-04-30 08671512 core:ComputerSoftware core:TopRangeValue 2023-05-01 2024-04-30 08671512 core:Goodwill 2023-05-01 2024-04-30 08671512 core:OtherResidualIntangibleAssets 2023-05-01 2024-04-30 08671512 core:LeaseholdImprovements core:BottomRangeValue 2023-05-01 2024-04-30 08671512 core:LeaseholdImprovements core:TopRangeValue 2023-05-01 2024-04-30 08671512 core:PlantMachinery core:BottomRangeValue 2023-05-01 2024-04-30 08671512 core:PlantMachinery core:TopRangeValue 2023-05-01 2024-04-30 08671512 core:FurnitureFittings core:BottomRangeValue 2023-05-01 2024-04-30 08671512 core:FurnitureFittings core:TopRangeValue 2023-05-01 2024-04-30 08671512 core:OfficeEquipment core:BottomRangeValue 2023-05-01 2024-04-30 08671512 core:OfficeEquipment core:TopRangeValue 2023-05-01 2024-04-30 08671512 2022-05-01 2023-04-30 08671512 core:ComputerSoftware 2023-05-01 2024-04-30 08671512 core:LandBuildings 2023-05-01 2024-04-30 08671512 core:LeaseholdImprovements 2023-05-01 2024-04-30 08671512 core:PlantMachinery 2023-05-01 2024-04-30 08671512 core:FurnitureFittings 2023-05-01 2024-04-30 08671512 core:OfficeEquipment 2023-05-01 2024-04-30 08671512 core:CurrentFinancialInstruments 2023-05-01 2024-04-30 08671512 core:Non-currentFinancialInstruments 2023-05-01 2024-04-30 08671512 bus:OrdinaryShareClass1 2023-05-01 2024-04-30 08671512 bus:OrdinaryShareClass1 2022-05-01 2023-04-30 iso4217:GBP xbrli:pure xbrli:shares

Company No: 08671512 (England and Wales)

ASHTONS COMPLETE LIMITED

Unaudited Financial Statements
For the financial year ended 30 April 2024
Pages for filing with the registrar

ASHTONS COMPLETE LIMITED

Unaudited Financial Statements

For the financial year ended 30 April 2024

Contents

ASHTONS COMPLETE LIMITED

STATEMENT OF FINANCIAL POSITION

As at 30 April 2024
ASHTONS COMPLETE LIMITED

STATEMENT OF FINANCIAL POSITION (continued)

As at 30 April 2024
Note 2024 2023
£ £
Fixed assets
Intangible assets 3 0 15,848
Tangible assets 4 31,376 182,250
Investments 5 0 1,709
31,376 199,807
Current assets
Debtors 6 2,136,693 1,932,638
Cash at bank and in hand 107,963 97,483
2,244,656 2,030,121
Creditors: amounts falling due within one year 7 ( 383,195) ( 301,501)
Net current assets 1,861,461 1,728,620
Total assets less current liabilities 1,892,837 1,928,427
Creditors: amounts falling due after more than one year 8 ( 62,831) ( 225,795)
Provision for liabilities 9 ( 6,421) ( 13,592)
Net assets 1,823,585 1,689,040
Capital and reserves
Called-up share capital 10 200 200
Other reserves 299,900 299,900
Profit and loss account 1,523,485 1,388,940
Total shareholder's funds 1,823,585 1,689,040

For the financial year ending 30 April 2024 the Company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Directors' responsibilities:

The financial statements of Ashtons Complete Limited (registered number: 08671512) were approved and authorised for issue by the Board of Directors on 30 October 2024. They were signed on its behalf by:

Jade Boyles-White
Director
ASHTONS COMPLETE LIMITED

NOTES TO THE FINANCIAL STATEMENTS

For the financial year ended 30 April 2024
ASHTONS COMPLETE LIMITED

NOTES TO THE FINANCIAL STATEMENTS

For the financial year ended 30 April 2024
1. Accounting policies

The principal accounting policies are summarised below. They have all been applied consistently throughout the financial year and to the preceding financial year, unless otherwise stated.

General information and basis of accounting

Ashtons Complete Limited (the Company) is a private company, limited by shares, incorporated in the United Kingdom under the Companies Act 2006 and is registered in England and Wales. The address of the Company's registered office is 2nd Floor Stratus House, Emperor Way, Exeter, EX1 3QS, United Kingdom. The principal place of business is Leatside, Challabrook Lane, Bovey Tracey, TQ13 PDF.

The financial statements have been prepared under the historical cost convention, modified to include the revaluation of freehold properties and to include investment properties and certain items at fair value, and in accordance with Section 1A of Financial Reporting Standard 102 (FRS 102) ‘The Financial Reporting Standard applicable in the UK and Republic of Ireland’ issued by the Financial Reporting Council and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime.

The financial statements are presented in pounds sterling which is the functional currency of the Company and rounded to the nearest £.

Going concern

The directors have assessed the Statement of Financial Position and likely future cash flows at the date of approving these financial statements. The directors have a reasonable expectation that the Company has adequate resources to continue in operational existence and to meet its financial obligations as they fall due for at least 12 months from the date of signing these financial statements. Accordingly, they continue to adopt the going concern basis in preparing the financial statements.

Turnover

Turnover is stated net of VAT and trade discounts and is recognised when the significant risks and rewards are considered to have been transferred to the buyer. Turnover from the supply of services represents the value of services provided under contracts to the extent that there is a right to consideration and is recorded at the fair value of the consideration received or receivable. Where a contract has only been partially completed at the Statement of Financial Position date turnover represents the fair value of the service provided to date based on the stage of completion of the contract activity at the Statement of Financial Position date. Where payments are received from customers in advance of services provided, the amounts are recorded as deferred income and included as part of creditors due within one year.

Employee benefits

Defined contribution schemes
The Company operates a defined contribution scheme. The amount charged to the Statement of Income and Retained Earnings in respect of pension costs and other post-retirement benefits is the contributions payable in the financial year. Differences between contributions payable in the financial year and contributions actually paid are included as either accruals or prepayments in the Statement of Financial Position.

Finance costs

Finance costs are charged to the Statement of Income and Retained Earnings over the term of the debt using the effective interest method so the amount charged is at a constant rate on the carrying amount. Issue costs are initially recognised as a reduction in the proceeds of the associated capital instrument.

Taxation

Current tax
Current tax is provided at amounts expected to be paid (or recoverable) using the tax rates and laws that have been enacted or substantively enacted at the Statement of Financial Position date.

Deferred tax
Deferred tax arises as a result of including items of income and expenditure in taxation computations in periods different from those in which they are included in the Company's financial statements. Deferred tax is provided in full on timing differences which result in an obligation to pay more or less tax at a future date, at the average tax rates that are expected to apply when the timing differences reverse, based on current tax rates and laws. Deferred tax assets and liabilities are not discounted.

The carrying amount of deferred tax assets are reviewed at each reporting date and a valuation allowance is set up against deferred tax assets so that the net carrying amount equals the highest amount that is more likely than not to be recovered based on current or future taxable profit.

Intangible assets

Intangible assets are stated at cost or valuation, net of amortisation and any provision for impairment. Amortisation is provided on all intangible assets at rates to write off the cost or valuation of each asset over its expected useful life as follows:

Goodwill 10 years straight line
Computer software 10 years straight line
Goodwill

Goodwill represents the difference between amounts paid on the cost of a business combination and the acquirer’s interest in the fair value of its identifiable assets and liabilities of the acquiree at the date of acquisition. Subsequent to initial recognition, goodwill is measured at cost less accumulated amortisation and accumulated impairment losses. Goodwill is amortised on a straight line basis over its useful economic life of 10 years.

Other intangible assets

Intangible assets are initially recognised at cost. After recognition, under the cost model, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses.

All intangible assets are considered to have a finite useful life. If a reliable estimate of the useful life cannot be made, the useful life shall not exceed ten years.

Tangible fixed assets

Tangible fixed assets are stated at cost or valuation, net of depreciation and any provision for impairment. Depreciation is provided on all tangible fixed assets, other than investment property and freehold land, at rates calculated to write off the cost or valuation, less estimated residual value, of each asset on a straight-line basis over its expected useful life, as follows:

Land and buildings not depreciated
Leasehold improvements 6 - 7 years straight line
Plant and machinery 6 - 7 years straight line
Fixtures and fittings 6 - 7 years straight line
Office equipment 6 - 7 years straight line

Residual value represents the estimated amount which would currently be obtained from disposal of an asset, after deducting estimated costs of disposal, if the asset were already of the age and in the condition expected at the end of its useful life.

Borrowing costs

Borrowing costs that are directly attributable to acquisition, construction or production of qualifying assets, are capitalised as part of the cost of those assets. Capitalisation begins when both finance costs and expenditures for the asset are being incurred and activities that are necessary to get the asset ready for use are in progress. Capitalisation ceases when substantially all the activities that are necessary to get the asset ready for use are complete.

All other borrowing costs are recognised in profit or loss in the period in which they are incurred.

Leases

The Company as lessee
Assets held under finance leases, hire purchase contracts and other similar arrangements, which confer rights and obligations similar to those attached to owned assets, are capitalised as tangible fixed assets at the fair value of the leased asset (or, if lower, the present value of the minimum lease payments as determined at the inception of the lease) and are depreciated over the shorter of the lease terms and their useful lives. The capital elements of future lease obligations are recorded as liabilities, while the interest elements are charged to the Statement of Income and Retained Earnings over the period of the leases to produce a constant periodic rate of interest on the remaining balance of the liability.

Rentals under operating leases are charged on a straight-line basis over the lease term, even if the payments are not made on such a basis. Benefits received and receivable as an incentive to sign an operating lease are similarly spread on a straight-line basis over the lease term.

Impairment of assets

Assets, other than those measured at fair value, are assessed for indicators of impairment at each Statement of Financial Position date. If there is objective evidence of impairment, an impairment loss is recognised in the Statement of Income and Retained Earnings as described below.

Trade and other debtors

Trade and other debtors are initially recognised at fair value and thereafter stated at amortised cost using the effective interest method less impairment losses for bad and doubtful debts, except where the effect of discounting would be immaterial. In such cases the receivables are stated at cost less impairment losses for bad and doubtful debts.

Cash and cash equivalents

Cash and cash equivalents are basic financial assets and include cash in hand, deposits held at call with banks, other short-term liquid investments with original maturities of three months or less, and bank overdrafts. Bank overdrafts are shown within borrowings in creditors: amounts falling due within one year.

Trade and other creditors

Trade and other creditors are initially recognised at fair value and thereafter stated at amortised cost using the effective interest rate method, unless the effect of discounting would be immaterial, in which case they are stated at cost.

Financial instruments

Financial assets and financial liabilities are recognised when the Company becomes a party to the contractual provisions of the instrument.

Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instrument is any contract that evidences a residual interest in the assets of the Company after deducting all of its liabilities.

Financial assets and liabilities are only offset in the Balance Sheet when, and only when there exists a legally enforceable right to set off the recognised amounts and the Company intends either to settle on a net basis, or to realise the asset and settle the liability simultaneously.

Investments
Investments in listed company shares are remeasured to market value at each Statement of Financial Position date. Gains and losses on remeasurement are recognised in profit or loss for the period.

Provisions

Provisions are recognised when the Company has a present obligation (legal or constructive) as a result of a past event, it is probable that the Company will be required to settle that obligation and a reliable estimate can be made of the amount of the obligation.

The amount recognised as a provision is the best estimate of the consideration required to settle the present obligation at the Statement of Financial Position date, taking into account the risks and uncertainties surrounding the obligation. Where a provision is measured using the cash flows estimated to settle the present obligation, its carrying amount is the present value of those cash flows (when the effect of the time value of money is material).

When some or all of the economic benefits required to settle a provision are expected to be recovered from a third party, a receivable is recognised as an asset if it is virtually certain that reimbursement will be received and the amount of the receivable can be measured reliably.

Ordinary share capital

The ordinary share capital of the Company is presented as equity.

Dividends

Equity dividends are recognised when they become legally payable. Interim equity dividends are recognised when paid. Final equity dividends are recognised when approved by the shareholders at an annual general meeting.

2. Employees

2024 2023
Number Number
Monthly average number of persons employed by the Company during the year, including directors 30 33

3. Intangible assets

Goodwill Computer software Total
£ £ £
Cost
At 01 May 2023 380,405 5,515 385,920
At 30 April 2024 380,405 5,515 385,920
Accumulated amortisation
At 01 May 2023 364,557 5,515 370,072
Charge for the financial year 15,848 0 15,848
At 30 April 2024 380,405 5,515 385,920
Net book value
At 30 April 2024 0 0 0
At 30 April 2023 15,848 0 15,848

4. Tangible assets

Land and buildings Leasehold improve-
ments
Plant and machinery Fixtures and fittings Office equipment Total
£ £ £ £ £ £
Cost
At 01 May 2023 143,491 112,174 18,416 32,474 82,351 388,906
Additions 4,260 0 0 0 5,681 9,941
Disposals ( 147,751) 0 0 0 0 ( 147,751)
At 30 April 2024 0 112,174 18,416 32,474 88,032 251,096
Accumulated depreciation
At 01 May 2023 0 108,365 3,456 29,356 65,479 206,656
Charge for the financial year 0 2,564 2,765 1,725 6,010 13,064
At 30 April 2024 0 110,929 6,221 31,081 71,489 219,720
Net book value
At 30 April 2024 0 1,245 12,195 1,393 16,543 31,376
At 30 April 2023 143,491 3,809 14,960 3,118 16,872 182,250

5. Fixed asset investments

Listed investments Total
£ £
Cost or valuation before impairment
At 01 May 2023 1,709 1,709
Disposals ( 1,709) ( 1,709)
At 30 April 2024 0 0
Carrying value at 30 April 2024 0 0
Carrying value at 30 April 2023 1,709 1,709

6. Debtors

2024 2023
£ £
Trade debtors 77,708 98,415
Amounts owed by Group undertakings 2,043,680 1,817,400
Amounts owed by directors 10,055 6,473
Other debtors 5,250 10,350
2,136,693 1,932,638

7. Creditors: amounts falling due within one year

2024 2023
£ £
Bank loans (secured) 45,455 60,801
Trade creditors 105,063 33,631
Amounts owed to directors 15,742 0
Accruals 5,400 5,100
Corporation tax 75,649 59,028
Other taxation and social security 62,278 58,457
Obligations under finance leases and hire purchase contracts (secured) 5,720 5,720
Other creditors 67,888 78,764
383,195 301,501

The bank loans and overdrafts are secured. Obligations under finance leases and hire purchase contracts are secured against the assets to which they relate.

8. Creditors: amounts falling due after more than one year

2024 2023
£ £
Bank loans (secured) 62,831 225,795

The bank loans and overdrafts are secured.

Amounts repayable after more than 5 years are included in creditors falling due over one year:

2024 2023
£ £
Bank loans (secured / repayable by instalments) 0 84,365

9. Deferred tax

2024 2023
£ £
At the beginning of financial year ( 13,592) ( 16,015)
Credited to the Statement of Income and Retained Earnings 7,171 2,423
At the end of financial year ( 6,421) ( 13,592)

10. Called-up share capital

2024 2023
£ £
Allotted, called-up and fully-paid
200 Ordinary shares of £ 1.00 each 200 200

11. Related party transactions

Transactions with the entity's directors

At the year end, the company owed £15,742 to a director (2023: £10,351).
At the year end, the company was owed £10,051 by two directors (2023: £6,473 owed by a director ).
There are no fixed payment terms and interest is charged at HMRC approved rates when overdrawn.