REGISTERED NUMBER: |
DAVID ASHTON LIMITED |
FINANCIAL STATEMENTS |
FOR THE YEAR ENDED 5 APRIL 2024 |
REGISTERED NUMBER: |
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: |
SECRETARY: |
REGISTERED OFFICE: |
REGISTERED NUMBER: |
ACCOUNTANTS: |
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 |
CURRENT ASSETS |
Stocks |
Debtors | 4 |
Cash at bank and in hand |
CREDITORS |
Amounts falling due within one year |
NET CURRENT ASSETS |
TOTAL ASSETS LESS CURRENT LIABILITIES |
CREDITORS |
Amounts falling due after more than one year |
( |
) |
( |
) |
PROVISIONS FOR LIABILITIES | ( |
) | ( |
) |
NET ASSETS |
CAPITAL AND RESERVES |
Called up share capital |
Retained earnings |
SHAREHOLDERS' FUNDS |
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 were approved by the Board of Directors and authorised for issue on |
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 |
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 |
Improvements to leasehold property | - |
Chicken shed | - |
Plant and machinery | - |
Motor vehicles | - |
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 |
3. | TANGIBLE FIXED ASSETS |
Totals |
£ |
COST |
At 6 April 2023 |
Additions |
At 5 April 2024 |
DEPRECIATION |
At 6 April 2023 |
Charge for year |
At 5 April 2024 |
NET BOOK VALUE |
At 5 April 2024 |
At 5 April 2023 |
4. | DEBTORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR |
2024 | 2023 |
£ | £ |
Other debtors |
5. | SECURED DEBTS |
The following secured debts are included within creditors: |
2024 | 2023 |
£ | £ |
Bank loans |
Hire purchase contracts | - | 16,519 |
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). |