Caseware UK (AP4) 2023.0.135 2023.0.135 2024-03-312024-03-3129false2023-04-01suppliers of double glazing accessories and manufacturers of double glazing machinery32truetrueThe members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.false 1667051 2023-04-01 2024-03-31 1667051 2022-04-01 2023-03-31 1667051 2024-03-31 1667051 2023-03-31 1667051 2022-04-01 1667051 c:Director1 2023-04-01 2024-03-31 1667051 d:Buildings d:ShortLeaseholdAssets 2023-04-01 2024-03-31 1667051 d:Buildings d:ShortLeaseholdAssets 2024-03-31 1667051 d:Buildings d:ShortLeaseholdAssets 2023-03-31 1667051 d:MotorVehicles 2023-04-01 2024-03-31 1667051 d:MotorVehicles 2024-03-31 1667051 d:MotorVehicles 2023-03-31 1667051 d:MotorVehicles d:OwnedOrFreeholdAssets 2023-04-01 2024-03-31 1667051 d:FurnitureFittings 2023-04-01 2024-03-31 1667051 d:FurnitureFittings 2024-03-31 1667051 d:FurnitureFittings 2023-03-31 1667051 d:FurnitureFittings d:OwnedOrFreeholdAssets 2023-04-01 2024-03-31 1667051 d:OwnedOrFreeholdAssets 2023-04-01 2024-03-31 1667051 d:PatentsTrademarksLicencesConcessionsSimilar 2024-03-31 1667051 d:PatentsTrademarksLicencesConcessionsSimilar 2023-03-31 1667051 d:DevelopmentCostsCapitalisedDevelopmentExpenditure 2024-03-31 1667051 d:DevelopmentCostsCapitalisedDevelopmentExpenditure 2023-03-31 1667051 d:CurrentFinancialInstruments 2024-03-31 1667051 d:CurrentFinancialInstruments 2023-03-31 1667051 d:CurrentFinancialInstruments d:WithinOneYear 2024-03-31 1667051 d:CurrentFinancialInstruments d:WithinOneYear 2023-03-31 1667051 d:ShareCapital 2024-03-31 1667051 d:ShareCapital 2023-03-31 1667051 d:RetainedEarningsAccumulatedLosses 2024-03-31 1667051 d:RetainedEarningsAccumulatedLosses 2023-03-31 1667051 c:FRS102 2023-04-01 2024-03-31 1667051 c:AuditExempt-NoAccountantsReport 2023-04-01 2024-03-31 1667051 c:FullAccounts 2023-04-01 2024-03-31 1667051 c:PrivateLimitedCompanyLtd 2023-04-01 2024-03-31 1667051 d:AcceleratedTaxDepreciationDeferredTax 2024-03-31 1667051 d:AcceleratedTaxDepreciationDeferredTax 2023-03-31 1667051 2 2023-04-01 2024-03-31 1667051 7 2023-04-01 2024-03-31 1667051 d:PatentsTrademarksLicencesConcessionsSimilar d:OwnedIntangibleAssets 2023-04-01 2024-03-31 1667051 d:DevelopmentCostsCapitalisedDevelopmentExpenditure d:OwnedIntangibleAssets 2023-04-01 2024-03-31 1667051 e:PoundSterling 2023-04-01 2024-03-31 iso4217:GBP xbrli:pure

Registered number: 1667051









ASHTON INDUSTRIAL SALES LIMITED








FINANCIAL STATEMENTS

INFORMATION FOR FILING WITH THE REGISTRAR

FOR THE YEAR ENDED 31 MARCH 2024

 
ASHTON INDUSTRIAL SALES LIMITED
REGISTERED NUMBER: 1667051

BALANCE SHEET
AS AT 31 MARCH 2024

2024
2023
Note
£
£

Fixed assets
  

Intangible assets
 5 
63,731
84,974

Tangible assets
 6 
90,196
62,342

  
153,927
147,316

Current assets
  

Stocks
 7 
984,317
928,090

Debtors: amounts falling due within one year
 8 
1,460,138
1,371,420

Cash at bank and in hand
 9 
2,284,002
1,947,444

  
4,728,457
4,246,954

Creditors: amounts falling due within one year
 10 
(519,605)
(665,124)

Net current assets
  
 
 
4,208,852
 
 
3,581,830

Total assets less current liabilities
  
4,362,779
3,729,146

Provisions for liabilities
  

Deferred tax
 11 
(19,085)
(10,414)

Net assets
  
4,343,694
3,718,732


Capital and reserves
  

Called up share capital 
  
2
2

Profit and loss account
  
4,343,692
3,718,730

  
4,343,694
3,718,732


Page 1

 
ASHTON INDUSTRIAL SALES LIMITED
REGISTERED NUMBER: 1667051
    
BALANCE SHEET (CONTINUED)
AS AT 31 MARCH 2024

The director considers that the company is entitled to exemption from audit under section 477 of the Companies Act 2006 and members have not required the company to obtain an audit for the year in question in accordance with section 476 of the Companies Act 2006.

The director acknowledges his responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.

The financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies regime and in accordance with the provisions of FRS 102 Section 1A - small entities.

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

The company has opted not to file the statement of comprehensive income in accordance with provisions applicable to companies subject to the small companies' regime.

The financial statements were approved and authorised for issue by the board and were signed on its behalf on 2 December 2024.




Mr S R Ashton
Director

The notes on pages 3 to 11 form part of these financial statements.

Page 2

 
ASHTON INDUSTRIAL SALES LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024

1.


General information

Ashton Industrial Sales Limited  is a private company limited by shares, incorporated in England, United Kingdom. The address of the registered office, which is also the principal place of business, is South Road, Harlow, Essex, CM20 2AR. The company's principal activity was that of suppliers of double glazing accessories and manufacturers of double glazing machinery.

2.Accounting policies

 
2.1

Basis of preparation of financial statements

The financial statements have been prepared under the historical cost convention unless otherwise specified within these accounting policies and in accordance with FRS 102 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland' and the requirements of the Companies Act 2006. The disclosure requirements of Section 1A of FRS 102 have been applied other than where additional disclosure is required to show a true and fair view.



The preparation of financial statements in compliance with FRS 102 requires the use of certain critical accounting estimates. It also requires management to exercise judgment in applying the company's accounting policies (see note 3).

The following principal accounting policies have been applied:

 
2.2

Revenue

Revenue is recognised to the extent that it is probable that the economic benefits will flow to the company and the revenue can be reliably measured. Revenue is measured as the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. The following criteria must also be met before revenue is recognised:

Sale of goods

Revenue from the sale of goods is recognised when all of the following conditions are satisfied:
the company has transferred the significant risks and rewards of ownership to the buyer;
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 company will receive the consideration due under the transaction; and
the costs incurred or to be incurred in respect of the transaction can be measured reliably.

Rendering of services

Revenue from a contract to provide services is recognised in the period in which the services are provided in accordance with the stage of completion of the contract when all of the following conditions are satisfied:
the amount of revenue can be measured reliably;
it is probable that the company will receive the consideration due under the contract;
the stage of completion of the contract at the end of the reporting period can be measured reliably; and
the costs incurred and the costs to complete the contract can be measured reliably.

Page 3

 
ASHTON INDUSTRIAL SALES LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024

2.Accounting policies (continued)

 
2.3

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.

 
2.4

Tangible fixed assets

Tangible fixed assets under the cost model are stated at historical cost less accumulated depreciation and any accumulated impairment losses. Historical cost includes expenditure that is directly attributable to bringing the asset to the location and condition necessary for it to be capable of operating in the manner intended by management.

Depreciation is charged so as to allocate the cost of assets less their residual value over their estimated useful lives, on the following basis.


S/Term Leasehold Property
-
10%
per annum over the 10 year lease term
Motor vehicles
-
25%
reducing balance
Furniture, fittings and equipment
-
25%
straight line

The assets' residual values, useful lives and depreciation methods are reviewed, and adjusted prospectively if appropriate, or if there is an indication of a significant change since the last reporting date.

Gains and losses on disposals are determined by comparing the proceeds with the carrying amount and are recognised in profit or loss.

 
2.5

Stocks

Stocks are stated at the lower of cost and net realisable value, being the estimated selling price less costs to complete and sell. Cost is based on the cost of purchase on a first in, first out basis. Work in progress and finished goods include labour and attributable overheads.

At each balance sheet date, stocks are assessed for impairment. If stock is impaired, the carrying amount is reduced to its selling price less costs to complete and sell. The impairment loss is recognised immediately in profit or loss.

 
2.6

Debtors

Short-term debtors are measured at transaction price, less any impairment. Loans receivable are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method, less any impairment.

 
2.7

Cash and cash equivalents

Cash is represented by cash in hand and deposits with financial institutions repayable without penalty on notice of not more than 24 hours. Cash equivalents are highly liquid investments that mature in no more than three months from the date of acquisition and that are readily convertible to known amounts of cash with insignificant risk of change in value.

Page 4

 
ASHTON INDUSTRIAL SALES LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024

2.Accounting policies (continued)

 
2.8

Financial instruments

The company only enters into basic financial instrument transactions that result in the recognition of financial
assets and liabilities like trade and other debtors and creditors, loans from banks and other third parties, loans
to related parties and investments in ordinary shares.

 
2.9

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.

 
2.10

Foreign currency translation

Functional and presentation currency
The company's functional and presentational currency is GBP.
Transactions and balances
Foreign currency transactions are translated into the functional currency using the house exchange rates at the dates of the transactions.
At each period end foreign currency monetary items are translated using the closing rate. Non-monetary items measured at historical cost are translated using the exchange rate at the date of the transaction and non-monetary items measured at fair value are measured using the exchange rate when fair value was determined.

 
2.11

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.

 
2.12

Operating leases: the company as lessee

Rentals paid under operating leases are charged to profit or loss on a straight-line basis over the lease term.

Benefits received and receivable as an incentive to sign an operating lease are recognised on a straight-line basis over the lease term, unless another systematic basis is representative of the time pattern of the lessee's benefit from the use of the leased asset.

 
2.13

Pensions

Defined contribution pension plan

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 payment obligations.

The contributions are recognised as an expense in profit or loss when they fall due. Amounts not paid are shown in accruals as a liability in the Balance sheet. The assets of the plan are held separately from the company in independently administered funds.

Page 5

 
ASHTON INDUSTRIAL SALES LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024

2.Accounting policies (continued)

 
2.14

Holiday pay accrual

A liability is recognised to the extent of any unused holiday pay entitlement which is accrued at the balance sheet date and carried forward to future periods. This is measured at the undiscounted salary cost of the future holiday entitlement so accrued at the balance sheet date.

 
2.15

Interest income

Interest income is recognised in profit or loss using the effective interest method.

 
2.16

Provisions for liabilities

Provisions are recognised when an event has taken place that gives rise to a legal or constructive obligation, a transfer of economic benefits is probable and a reliable estimate can be made.
Provisions are measured as the best estimate of the amount required to settle the obligation, taking into account the related risks and uncertainties.
 
Increases in provisions are generally charged as an expense to profit or loss.

 
2.17

Current and deferred taxation

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

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

Deferred tax balances are recognised in respect of all timing differences that have originated but not reversed by the balance sheet date, except that:
The recognition of deferred tax assets is limited to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits; and
Any deferred tax balances are reversed if and when all conditions for retaining associated tax allowances have been met.

Deferred tax balances are not recognised in respect of permanent differences except in respect of business combinations, when deferred tax is recognised on the differences between the fair values of assets acquired and the future tax deductions available for them and the differences between the fair values of liabilities acquired and the amount that will be assessed for tax. Deferred tax is determined using tax rates and laws that have been enacted or substantively enacted by the balance sheet date.

Page 6

 
ASHTON INDUSTRIAL SALES LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024

2.Accounting policies (continued)

 
2.18

Research and development

In the research phase of an internal project it is not possible to demonstrate that the project will generate future economic benefits and hence all expenditure on research shall be recognised as an expense when it is incurred.  Intangible assets are recognised from the development phase of a project if, and only if, certain specific criteria are met in order to demonstrate that the asset will generate probable future economic benefits and that its costs can be measured reliably.  The capitalised development costs are subsequently amortised on a straight line basis over the useful life.
If it is not possible to distinguish between the research phase and the development phase of an internal project, the expenditure is treated as if it were all incurred in the research phase only and will be recognised as expenses when incurred.


3.


Judgments in applying accounting policies and key sources of estimation uncertainty

The directors have made key assumptions regarding the stage of completion of the machinery.   Closing stock at the year end has been valued at £984,317 (2023 - £928,090)


4.


Employees

The average monthly number of employees, including directors, during the year was 32 (2023 -29).

Page 7

 
ASHTON INDUSTRIAL SALES LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024

5.


Intangible assets




Intellectual property
Development
Total

£
£
£



Cost


At 1 April 2023
106,217
57,600
163,817



At 31 March 2024

106,217
57,600
163,817



Amortisation


At 1 April 2023
21,243
57,600
78,843


Charge for the year on owned assets
21,243
-
21,243



At 31 March 2024

42,486
57,600
100,086



Net book value



At 31 March 2024
63,731
-
63,731



At 31 March 2023
84,974
-
84,974



Page 8

 
ASHTON INDUSTRIAL SALES LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024

6.


Tangible fixed assets





S/Term Leasehold Property
Motor Vehicles
Furniture, fittings and equipment
Total

£
£
£
£



Cost or valuation


At 1 April 2023
40,723
17,500
302,586
360,809


Additions
-
-
40,568
40,568


Disposals
-
(8,000)
-
(8,000)



At 31 March 2024

40,723
9,500
343,154
393,377



Depreciation


At 1 April 2023
31,068
16,825
250,574
298,467


Charge for the year on owned assets
2,472
118
9,707
12,297


Disposals
-
(7,583)
-
(7,583)



At 31 March 2024

33,540
9,360
260,281
303,181



Net book value



At 31 March 2024
7,183
140
82,873
90,196



At 31 March 2023
9,655
675
52,012
62,342


7.


Stocks

2024
2023
£
£

Work in progress and raw materials
430,310
631,128

Finished goods and goods for resale
554,007
296,962

984,317
928,090


Page 9

 
ASHTON INDUSTRIAL SALES LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024

8.


Debtors

2024
2023
£
£


Trade debtors
1,185,378
1,095,717

Other debtors
82,028
83,561

Prepayments and accrued income
192,732
192,142

1,460,138
1,371,420



9.


Cash and cash equivalents

2024
2023
£
£

Cash at bank and in hand
2,284,002
1,947,444



10.


Creditors: Amounts falling due within one year

2024
2023
£
£

Trade creditors
280,260
556,795

Corporation tax
35,994
24,634

Other taxation and social security
43,090
39,900

Other creditors
8,996
1,613

Accruals and deferred income
151,265
42,182

519,605
665,124


Page 10

 
ASHTON INDUSTRIAL SALES LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024

11.


Deferred taxation




2024
2023


£

£






At beginning of year
(10,414)
(5,332)


Charged to profit or loss
(8,671)
(5,082)



At end of year
(19,085)
(10,414)

The provision for deferred taxation is made up as follows:

2024
2023
£
£


Accelerated capital allowances
(19,085)
(10,414)


12.


Pension commitments

The company operates a defined contributions pension scheme. The assets of the scheme are held separately from
those of the company in an independently administered fund. The pension cost charge represents contributions
payable by the company to the fund and amounted to £37,083 
(2023 - £32,875). Contributions totalling £5,340 (2023 - £Nil) were payable to the fund at the balance sheet date and are included in creditors.

 
Page 11