Ashfield Appliance Spares Ltd Filleted Accounts Cover
Ashfield Appliance Spares Ltd
Company No. 12313851
Information for Filing with The Registrar
31 May 2024
Ashfield Appliance Spares Ltd Directors Report Registrar
The Director presents his report and the accounts for the year ended 31 May 2024.
Principal activities
The principal activity of the company during the year under review was sale of spares for domestic electrical equipment.
Director
The Director who served at any time during the year was as follows:
Jonathan Marsh
The above report has been prepared in accordance with the provisions applicable to companies subject to the small companies regime as set out in Part 15 of the Companies Act 2006.
Signed on behalf of the board
Jonathan Marsh
Director
16 October 2024
Ashfield Appliance Spares Ltd Balance Sheet Registrar
at
31 May 2024
Company No.
12313851
Notes
2024
2023
£
£
Fixed assets
Tangible assets
4
-9,541
-9,541
Current assets
Stocks
5
500500
Debtors
6
55,34927,282
Cash at bank and in hand
3,293-
59,14227,782
Creditors: Amount falling due within one year
7
(58,308)
(46,885)
Net current assets/(liabilities)
834
(19,103)
Total assets less current liabilities
834
(9,562)
Creditors: Amounts falling due after more than one year
8
-
(4,524)
Provisions for liabilities
Deferred taxation
-
(2,000)
Net assets/(liabilities)
834
(16,086)
Capital and reserves
Called up share capital
100100
Profit and loss account
10
734
(16,186)
Total equity
834
(16,086)
These accounts have been prepared in accordance with the special provisions applicable to companies subject to the small companies regime of the Companies Act 2006.
For the year ended 31 May 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts.
As permitted by section 444 (5A)of the Companies Act 2006 the directors have not delivered to the Registrar a copy of the company's profit and loss account.
Approved by the board on 16 October 2024 and signed on its behalf by:
Jonathan Marsh
Director
16 October 2024
Ashfield Appliance Spares Ltd Notes to the Accounts Registrar
for the year ended 31 May 2024
1
General information
Ashfield Appliance Spares Ltd is a private company limited by shares and incorporated in England and Wales.
Its registered number is: 12313851
Its registered office is:
Kestrel Business Centre
Colwick Industrial Estate
Nottingham
NG4 2JR
The accounts have been prepared in accordance with FRS 102 Section 1A - The Financial Reporting Standard applicable in the UK and Republic of Ireland and the Companies Act 2006.
Going concern
The financial statements have been prepared on the going concern basis. The director is not aware of any material threats to the ability of the company to continue as a going concern for the foreseeable future.
2
Accounting policies
Turnover
Turnover is measured at the fair value of the consideration received or receivable. Turnover is reduced for estimated customer returns, rebates and other similar allowances.

Revenue from the sale of goods is recognised when all the following conditions are satisfied:
• the Company has transferred to the buyer the significant risks and rewards of ownership of the
goods;
• the Company retains neither continuing managerial involvement to the degree usually associated
with ownership nor effective control over the goods sold;
• the amount of revenue can be measured reliably;
• it is probable that the economic benefits associated with the transaction will flow to the Company;
and
• the costs incurred or to be incurred in respect of the transaction can be measured reliably.

Specifically, revenue from the sale of goods is recognised when goods are delivered and legal title is passed.
Intangible fixed assets
Intangible fixed assets are carried at cost less accumulated amortisation and impairment losses.
Tangible fixed assets and depreciation
Tangible fixed assets held for the company's own use are stated at cost less accumulated depreciation and accumulated impairment losses.

At each balance sheet date, the company reviews the carrying amount of its tangible fixed assets to determine whether there is any indication that any items have suffered an impairment loss. If any such indication exists, the recoverable amount of an asset is estimated in order to determine the extent of the impairment loss.
Depreciation is provided at the following annual rates in order to write off the cost or valuation less the estimated residual value of each asset over its estimated useful life:
Motor vehicles
25% Reducing Balance
Taxation
Income tax expense represents the sum of the tax currently payable and deferred tax.

The tax currently payable is based on taxable profit for the year. Taxable profit differs from profit as reported in the profit and loss account because of items of income or expense that are taxable or deductible in other years and items that are never taxable or deductible. The Company's liability for current tax is calculated using tax rates that have been enacted or substantively enacted by the end of the reporting period.

Deferred tax is recognised on timing differences between the carrying amounts of assets and liabilities in the financial statements and the corresponding tax bases used in the computation of taxable profit. Deferred tax liabilities are generally recognised for all taxable temporary differences. Deferred tax assets are generally recognised for all deductible timing differences to the extent that it is probable that taxable profits will be available against which those deductible temporary differences can be utilised. The carrying amount of deferred tax assets is reviewed at the end of each reporting period and reduced to the extent that it is no longer probable that sufficient taxable profits will be available to allow all or part of the asset to be recovered.

Deferred tax assets and liabilities are measured at the tax rates that are expected to apply in the period in which the liability is settled or the asset realised, based on tax rates (and tax laws) that have been enacted or substantively enacted by the end of the reporting period.

Current or deferred tax for the year is recognised in profit or loss, except when they relate to items that are recognised in other comprehensive income or directly in equity, in which case, the current and deferred tax is also recognised in other comprehensive income or directly in equity respectively.
Stocks
Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell. Costs, which comprise direct production costs, are based on the method most appropriate to the type of inventory class, but usually on a first-in-first-out basis. Overheads are charged to profit or loss as incurred. Net realisable value is based on the estimated selling price less any estimated completion or selling costs.

When stocks are sold, the carrying amount of those stocks is recognised as an expense in the period in which the related revenue is recognised. The amount of any write-down of stocks to net realisable value and all losses of stocks are recognised as an expense in the period in which the write-down or loss occurs. The amount of any reversal of any write-down of stocks is recognised as a reduction in the amount of inventories recognised as an expense in the period in which the reversal occurs.

Work in progress is reflected in the accounts on a contract by contract basis by recording revenue and related costs as contract activity progresses.
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.
Trade and other 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.
Foreign currencies
The functional and presentational currency of the company is Sterling. The accounts are rounded to the nearest pound.
Transactions in currencies, other than the functional currency of the Company, are recorded at the rate of exchange on the date the transaction occurred. Monetary items denominated in other currencies are translated at the rate prevailing at the end of the reporting period. all differences are taken to the profit and loss account. Non-monetary items that are measured at historic cost in a foreign currency are not retranslated.
Defined contribution pensions
The Company operates a defined contribution plan for its employees. A defined contribution plan is a pension plan under which the company pays fixed contributions into a separate entity. Once the contributions have been paid the company has no further payments obligations.
The contributions are recognised as expenses when they fall due. Amounts not paid are shown in accruals in the balance sheet. The assets of the plan are held separately from the company in independently administered funds.
Financial instruments
Financial assets
Basic financial assets, including trade and other receivables and cash and bank balances, are recognised and carried forward at transaction price. Financial assets are derecognised when:
(a) The contractual rights to the cash flows from the asset expire or are settled;
(b) Substantially all the risks and rewards of the ownership of the asset are transferred to another party; or
(c) Control of the asset has been transferred to another party who has the practical ability to unilaterally sell the asset to an unrelated third party without imposing additional restrictions.
Financial liabilities
Basic financial liabilities, including trade and other payables, and loans from third parties are initially recognised and carried forward at transaction price.
Financial liabilities are derecognised when the liability is extinguished, that is when the contractual obligation is discharged, cancelled or expires.
The company has only financial assets and financial liabilities of a kind that qualify as a basic financial instruments. Basic financial instruments are recognised initially at transaction value and subsequently measured at their settlement value with the exception of bank loans which are subsequently measured at amortised cost using the effective interest rate method.
Provisions
Provisions are made where an event has taken place that gives the Company a legal or constructive obligation that probably requires settlement by a transfer of economic benefit, and a reliable estimate can be made of the amount of the obligation.

Provisions are charged as an expense to the profit and loss account in the year that the Company becomes aware of the obligation, and are measured at the best estimate at balance sheet date of the expenditure required to settle the obligation, taking into account relevant risks and uncertainties.

When payments are eventually made, they are charged to the provision carried in the balance sheet.
3
Employees
2024
2023
Number
Number
The average monthly number of employees (including directors) during the year was:
11
4
Tangible fixed assets
Motor vehicles
Total
£
£
Cost or revaluation
At 1 June 2023
17,69917,699
Disposals
(17,699)
(17,699)
At 31 May 2024
--
Depreciation
At 1 June 2023
8,1588,158
Disposals
(8,158)
(8,158)
At 31 May 2024
--
Net book values
At 31 May 2024
--
At 31 May 2023
9,541
9,541
5
Stocks
2024
2023
£
£
Raw materials and consumables
500500
500500
6
Debtors
2024
2023
£
£
Trade debtors
238269
Corporation tax recoverable
6,5894,435
Loans to directors
48,52222,578
55,34927,282
7
Creditors:
amounts falling due within one year
2024
2023
£
£
Bank loans and overdrafts
-124
Other loans
21,0693,189
Obligations under finance lease and hire purchase contracts
-4,248
Trade creditors
12,66715,788
Amounts owed to group undertakings
855
855
Taxes and social security
22,617
21,681
Accruals and deferred income
1,1001,000
58,30846,885
8
Creditors:
amounts falling due after more than one year
2024
2023
£
£
Obligations under finance lease and hire purchase contracts
-4,524
-4,524
9
Share Capital
Share capital consists of 100 ordinary shares of £1 each all fully paid.
10
Reserves
Profit and loss account - includes all current and prior period retained profits and losses.
11
Dividends
2024
2023
£
£
Dividends for the period:
Dividends paid in the period
1,000
-
1,000
-
Dividends by type:
Equity dividends
1,000-
1,000
-
12
Related party transactions
During the year a loan to the director subsisted.
The details of the loan are as follows:
2024
2023
£
£
Balance at 1 June 2023
22,578
10,021
Amounts advanced
38,812
24,159
Amounts repaid
(12,868)
(11,602)
Balance at 31 May 2024
48,522
22,578
The loan is unsecured, free of interest and is repayable upon demand.
13
Controlling party
The company is a subsidiary undertaking of J Marsh Limited, a company incorporated in and registered in England and Wales.
J Marsh Limited is the immediate controlling party.
The Registered Office of J Marsh Limited is as follows:
C17 Kestrel Business Centre
Private Road 2
Colwick Industrial Estate
Nottingham
NG4 2JR
The ultimate controlling party is the director J Marsh.
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