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REGISTERED NUMBER: 08750490 (England and Wales)















UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2024

FOR

ASH HOUSE INVESTMENT LIMITED

ASH HOUSE INVESTMENT LIMITED (REGISTERED NUMBER: 08750490)

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










Page

Statement of Financial Position 1 to 2

Notes to the Financial Statements 3 to 7


ASH HOUSE INVESTMENT LIMITED (REGISTERED NUMBER: 08750490)

STATEMENT OF FINANCIAL POSITION
31 MARCH 2024

31.3.24 31.3.23
Notes £    £   
FIXED ASSETS
Tangible assets 4 25,466 7,756

CURRENT ASSETS
Debtors 5 159,680 159,403
Cash at bank and in hand 21,619 33,934
181,299 193,337
CREDITORS
Amounts falling due within one year 6 (43,472 ) (49,393 )
NET CURRENT ASSETS 137,827 143,944
TOTAL ASSETS LESS CURRENT
LIABILITIES

163,293

151,700

CREDITORS
Amounts falling due after more than one
year

7

(26,341

)

(20,623

)
NET ASSETS 136,952 131,077

CAPITAL AND RESERVES
Called up share capital 100 100
Retained earnings 136,852 130,977
136,952 131,077

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 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.

ASH HOUSE INVESTMENT LIMITED (REGISTERED NUMBER: 08750490)

STATEMENT OF FINANCIAL POSITION - continued
31 MARCH 2024


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 Board of Directors and authorised for issue on 19 November 2024 and were signed on its behalf by:





D R Mitha - Director


ASH HOUSE INVESTMENT LIMITED (REGISTERED NUMBER: 08750490)

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


1. STATUTORY INFORMATION

Ash House Investment Limited is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address are as below:

Registered number: 08750490

Registered office: C/O D P C
Stone House
55 Stone Road Business Park
Stoke-on-Trent
Staffordshire
ST4 6SR

The principal activity of the company during the year was that of building contractors.

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.

The financial statements are prepared in sterling, which is the functional currency of the entity.

Significant judgements and estimates
The preparation of the financial statements requires management to make judgements, estimates and assumptions that affect the amounts reported. These estimates and judgements are continually reviewed and are based on experience and other factors, including expectations of future events that are believed to be reasonable under the circumstances.

Key sources of estimation uncertainty

Accounting estimates and assumptions are made concerning the future and, by their nature, will rarely equal the related actual outcome. The key assumptions and other sources of estimation uncertainty that have a significant risk of causing a material adjustment to the carrying amounts of assets and liabilities within the next financial year are as follows:

As described in the accounting policies of the financial statements, depreciation of tangible fixed assets has been based on estimated useful lives and residual values deemed appropriate by the directors. Estimated useful lives and residual values are reviewed annually and revised as appropriate. Revisions take in to account actual lives and residual values as evidenced by disposals during current and prior accounting periods.

Revenue recognition
Turnover represents the total value, excluding Value Added Tax, of sales made during the year.

Revenue from the sale of services is invoiced at clearly defined stages of job completion.

ASH HOUSE INVESTMENT LIMITED (REGISTERED NUMBER: 08750490)

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


2. ACCOUNTING POLICIES - continued

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Motor vehicles - 20% reducing balance
Computer equipment - Straight line over 3 years

Tangible assets are initially recorded at cost, and subsequently stated at cost less any accumulated depreciation and impairment losses. Any tangible assets carried at revalued amounts are recorded at the fair value at the date of revaluation less any subsequent accumulated depreciation and subsequent accumulated impairment losses.

Financial instruments
A financial asset or a financial liability is recognised only when the entity becomes a party to the contractual provisions of the instrument.

Basic financial instruments are initially recognised at the transaction price, unless the arrangement constitutes a financing transaction, where it is recognised at the present value of the future payments discounted at a market rate of interest for a similar debt instrument.

Debt instruments are subsequently measured at amortised cost.

Financial assets that are measured at cost or amortised cost are reviewed for objective evidence of impairment at the end of each reporting date. If there is objective evidence of impairment, an impairment loss is recognised in profit or loss immediately.

For all equity instruments regardless of significance, and other financial assets that are individually significant, these are assessed individually for impairment. Other financial assets are either assessed individually or grouped on the basis of similar credit risk characteristics.

Any reversals of impairment are recognised in profit or loss immediately, to the extent that the reversal does not result in a carrying amount of the financial asset that exceeds what the carrying amount would have been had the impairment not previously been recognised.

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 entity after deducting all of its financial liabilities.

Where the contractual obligations of financial instruments (including share capital) are equivalent to a similar debt instrument, those financial instruments are classed as financial liabilities. Financial liabilities are presented as such in the balance sheet. Finance costs and gains or losses relating to financial liabilities are included in the profit and loss account. Finance costs are calculated so as to produce a constant rate of return on the outstanding liability.

Where the contractual terms of share capital do not have any terms meeting the definition of a financial liability then this is classed as an equity instrument. Dividends and distributions relating to equity instruments are debited direct to equity.


ASH HOUSE INVESTMENT LIMITED (REGISTERED NUMBER: 08750490)

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


2. ACCOUNTING POLICIES - continued
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 statement of financial position date.

Deferred tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the statement of financial position date.

Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from those in which they are recognised in financial statements. Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the year end and that are expected to apply to the reversal of the timing difference.

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.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 5 (2023 - 5 ) .

4. TANGIBLE FIXED ASSETS
Motor Computer
vehicles equipment Totals
£    £    £   
COST
At 1 April 2023 22,350 1,586 23,936
Additions 24,581 - 24,581
Disposals (4,155 ) - (4,155 )
At 31 March 2024 42,776 1,586 44,362
DEPRECIATION
At 1 April 2023 15,879 301 16,180
Charge for year 4,641 529 5,170
Eliminated on disposal (2,454 ) - (2,454 )
At 31 March 2024 18,066 830 18,896
NET BOOK VALUE
At 31 March 2024 24,710 756 25,466
At 31 March 2023 6,471 1,285 7,756

Included within the carrying value of tangible fixed assets is £20,893 (2023: £Nil) relating to assets held under finance leases or hire purchase agreements.

ASH HOUSE INVESTMENT LIMITED (REGISTERED NUMBER: 08750490)

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


5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.3.24 31.3.23
£    £   
Trade debtors - 2,244
Amounts owed by group undertakings 84,167 84,467
Directors' loan accounts 75,513 72,639
Prepayments and accrued income - 53
159,680 159,403

Amounts owed by group undertakings are interest free, unsecured and repayable on demand.

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.3.24 31.3.23
£    £   
Bank loans and overdrafts 8,310 8,223
Hire purchase contracts 4,415 -
Trade creditors 15,095 10,705
Amounts owed to group undertakings - 5,710
Tax 9,250 2,024
Social security and other taxes 91 219
VAT 1,700 5,077
Other creditors 3,623 9,207
Directors' loan accounts - 7,240
Accruals and deferred income 988 988
43,472 49,393

7. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
31.3.24 31.3.23
£    £   
Bank Loan 12,227 20,623
Hire purchase contracts 14,114 -
26,341 20,623

The company has benefited from a Government bounce back loan. The loan was taken in July 2020 with a repayment holiday of 12 months. The loan is repayable by July 2026 and bears a fixed interest rate of 2.5% per annum. Loan interest for the the first 12 months of the loan was funded by the UK Government, thereafter the interest is payable by the company.

ASH HOUSE INVESTMENT LIMITED (REGISTERED NUMBER: 08750490)

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


8. DIRECTORS' ADVANCES, CREDITS AND GUARANTEES

The following advances and credits to directors subsisted during the years ended 31 March 2024 and 31 March 2023:

31.3.24 31.3.23
£    £   
S Mitha
Balance outstanding at start of year 25,758 15,820
Amounts advanced 27,234 29,542
Amounts repaid (28,392 ) (19,604 )
Amounts written off - -
Amounts waived - -
Balance outstanding at end of year 24,600 25,758

D R Mitha
Balance outstanding at start of year 18,814 14,417
Amounts advanced 22,710 19,106
Amounts repaid (18,850 ) (14,709 )
Amounts written off - -
Amounts waived - -
Balance outstanding at end of year 22,674 18,814

K M Mitha
Balance outstanding at start of year 28,067 21,162
Amounts advanced 24,410 28,359
Amounts repaid (28,100 ) (21,454 )
Amounts written off - -
Amounts waived - -
Balance outstanding at end of year 24,377 28,067

T R Mitha
Balance outstanding at start of year (7,240 ) (9,305 )
Amounts advanced 35,495 24,065
Amounts repaid (25,046 ) (22,000 )
Amounts written off - -
Amounts waived - -
Balance outstanding at end of year 3,209 (7,240 )

By virtue of the outstanding loan account balance a liability to taxation exists under Section 455 of CTA 2010 in the sum of £25,265 which will be repaid or discharged when the loans are repaid. The loans have been repaid within nine months of the year end and, as such no provision for the taxation has been made.

9. EVENTS AFTER THE END OF THE REPORTING PERIOD

There were no significant events up to the date of approval of the financial statements by the Board.

10. PARENT COMPANY

The company is a wholly owned subsidiary of Ash House Global Group Limited, a company incorporated in England and Wales.