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REGISTERED NUMBER: 03729540 (England and Wales)












DAVID ASHTON LIMITED

FINANCIAL STATEMENTS

FOR THE YEAR ENDED 5 APRIL 2024






DAVID ASHTON LIMITED (REGISTERED NUMBER: 03729540)

CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 5 APRIL 2024










Page

Company Information 1

Abridged Balance Sheet 2 to 3

Notes to the Financial Statements 4 to 5


DAVID ASHTON LIMITED

COMPANY INFORMATION
FOR THE YEAR ENDED 5 APRIL 2024







DIRECTORS: D M Ashton
P J Ashton





SECRETARY: Mrs S Ashton





REGISTERED OFFICE: Gasks Farm
Bull Drove
Wrangle
Boston
Lincolnshire
PE22 9DW





REGISTERED NUMBER: 03729540 (England and Wales)





ACCOUNTANTS: Dexter & Sharpe
Chartered Certified Accountants
The Old Vicarage
Church Close
Boston
Lincolnshire
PE21 6NA

DAVID ASHTON LIMITED (REGISTERED NUMBER: 03729540)

ABRIDGED BALANCE SHEET
5 APRIL 2024

2024 2023
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 3 887,228 953,312

CURRENT ASSETS
Stocks 215,779 292,750
Debtors 4 257,340 382,039
Cash at bank and in hand 370,586 503,594
843,705 1,178,383
CREDITORS
Amounts falling due within one year 137,397 461,221
NET CURRENT ASSETS 706,308 717,162
TOTAL ASSETS LESS CURRENT
LIABILITIES

1,593,536

1,670,474

CREDITORS
Amounts falling due after more than one
year

(130,492

)

(178,589

)

PROVISIONS FOR LIABILITIES (75,826 ) (71,963 )
NET ASSETS 1,387,218 1,419,922

CAPITAL AND RESERVES
Called up share capital 909,945 909,945
Retained earnings 477,273 509,977
SHAREHOLDERS' FUNDS 1,387,218 1,419,922

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 5 April 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 5 April 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.

DAVID ASHTON LIMITED (REGISTERED NUMBER: 03729540)

ABRIDGED BALANCE SHEET - continued
5 APRIL 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 5 April 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 16 December 2024 and were signed on its behalf by:




P J Ashton - Director



D M Ashton - Director


DAVID ASHTON LIMITED (REGISTERED NUMBER: 03729540)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 5 APRIL 2024


1. 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 as modified by the revaluation of certain assets.

Turnover
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Improvements to leasehold property - 10% on reducing balance
Chicken shed - Straight line over 20 years
Plant and machinery - 15% on reducing balance
Motor vehicles - 15% on reducing balance

Stocks
Stock is valued at the lower of cost and net realisable value, after making due allowances for obsolete and slow moving items. The professional valuation was carried out by Brown & Co.

Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Income Statement, 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 balance sheet date.

Deferred tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet 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.

Hire purchase and leasing commitments
Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease.

Pension costs and other post-retirement benefits
The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate.

Fixed asset investments
Listed fixed asset investments are measured at fair value through profit or loss. The fair value at the year end and the movement on fair value during the year are determined by reference to the bid price at the relevant year end date. The directors have not restated comparatives having taken advantage of the transition exemptions.

DAVID ASHTON LIMITED (REGISTERED NUMBER: 03729540)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 5 APRIL 2024


2. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 7 (2023 - 7 ) .

3. TANGIBLE FIXED ASSETS
Totals
£   
COST
At 6 April 2023 1,895,471
Additions 10,000
At 5 April 2024 1,905,471
DEPRECIATION
At 6 April 2023 942,159
Charge for year 76,084
At 5 April 2024 1,018,243
NET BOOK VALUE
At 5 April 2024 887,228
At 5 April 2023 953,312

4. DEBTORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
2024 2023
£    £   
Other debtors 149,990 149,990

5. SECURED DEBTS

The following secured debts are included within creditors:

2024 2023
£    £   
Bank loans 177,992 226,089
Hire purchase contracts - 16,519
177,992 242,608

6. JOINT VENTURE

Hobhole Farming Ltd was set up by David Ashton and C & R Needham, with David Ashton being a 33% shareholder. The Joint Venture was created to allow both companies to pool their resources and farm more efficiently.

David Ashton Ltd trades on normal commercial terms with Hobhole Farming Ltd. During the year Hobhole Farming Ltd was charged £64,023 (2023 - £45,545) for labour. During the year David Ashton was charged £88,625 (2023 - £77,798) for contracting services.

At the year end David Ashton Ltd owed Hobhole Farming Ltd £32,679 (2023 - £48,420).