Registered number
03308365
NICHOLAS ASHLEY LIMITED
Filleted Accounts
30 April 2024
NICHOLAS ASHLEY LIMITED
Registered number: 03308365
Balance Sheet
as at 30 April 2024
Notes 2024 2023
£ £
Fixed assets
Tangible assets 3 1,409 1,476
Current assets
Debtors 4 30,316 23,393
Cash at bank and in hand 302,301 278,737
332,617 302,130
Creditors: amounts falling due within one year 5 (120,704) (61,536)
Net current assets 211,913 240,594
Total assets less current liabilities 213,322 242,070
Creditors: amounts falling due after more than one year 6 (10,863) (20,833)
Provisions for liabilities (352) (369)
Net assets 202,107 220,868
Capital and reserves
Called up share capital 100 100
Profit and loss account 202,007 220,768
Shareholders' funds 202,107 220,868
The directors are satisfied that the company is entitled to exemption from the requirement to obtain an audit under section 477 of the Companies Act 2006.
The members have not required the company to obtain an audit in accordance with section 476 of the Act.
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.
The accounts have been prepared and delivered in accordance with the special provisions applicable to companies subject to the small companies regime. The profit and loss account has not been delivered to the Registrar of Companies.
A Sotiriou
Director
Approved by the board on 23 December 2024
NICHOLAS ASHLEY LIMITED
Notes to the Accounts
for the year ended 30 April 2024
1 Accounting policies
Basis of preparation
The accounts have been prepared under the historical cost convention and in accordance with FRS 102, The Financial Reporting Standard applicable in the UK and Republic of Ireland (as applied to small entities by section 1A of the standard).
Turnover
Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover includes revenue earned from the sale of goods and from the rendering of services. Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods have transferred to the buyer. Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs.
Tangible fixed assets
Tangible fixed assets are measured at cost less accumulative depreciation and any accumulative impairment losses. Depreciation is provided on all tangible fixed assets, other than freehold land, at rates calculated to write off the cost, less estimated residual value, of each asset evenly over its expected useful life, as follows:
Plant and machinery 20% Straight line
Debtors
Short term debtors are measured at transaction price (which is usually the invoice price), less any impairment losses for bad and doubtful debts. Loans and other financial assets are initially recognised at transaction price including any transaction costs and subsequently measured at amortised cost determined using the effective interest method, less any impairment losses for bad and doubtful debts.
Creditors
Short term creditors are measured at transaction price (which is usually the invoice price). Loans and other financial liabilities are initially recognised at transaction price net of any transaction costs and subsequently measured at amortised cost determined using the effective interest method.
Taxation
A current tax liability is recognised for the tax payable on the taxable profit of the current and past periods. A current tax asset is recognised in respect of a tax loss that can be carried back to recover tax paid in a previous period. Deferred tax is recognised in respect of all timing differences between the recognition of income and expenses in the financial statements and their inclusion in tax assessments. 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. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date and that are expected to apply to the reversal of the timing difference, except for revalued land and investment property where the tax rate that applies to the sale of the asset is used. Current and deferred tax assets and liabilities are not discounted.
Leased assets
A lease is classified as a finance lease if it transfers substantially all the risks and rewards incidental to ownership. All other leases are classified as operating leases. The rights of use and obligations under finance leases are initially recognised as assets and liabilities at amounts equal to the fair value of the leased assets or, if lower, the present value of the minimum lease payments. Minimum lease payments are apportioned between the finance charge and the reduction in the outstanding liability using the effective interest rate method. The finance charge is allocated to each period during the lease so as to produce a constant periodic rate of interest on the remaining balance of the liability. Leased assets are depreciated in accordance with the company's policy for tangible fixed assets. If there is no reasonable certainty that ownership will be obtained at the end of the lease term, the asset is depreciated over the lower of the lease term and its useful life. Operating lease payments are recognised as an expense on a straight line basis over the lease term.
Government Grants
Government grants are recognised where there is reasonable assurance that the grant will be received, and all attached conditions will be complied with. When the grant relates to an expense item, it is recognised as income on a systematic basis over the periods that the related costs, for which it is intended to compensate, are expensed.
Pensions
Contributions to defined contribution plans are expensed in the period to which they relate.
2 Employees 2024 2023
Number Number
Average number of persons employed by the company 8 8
3 Tangible fixed assets
Plant and machinery etc
£
Cost
At 1 May 2023 54,840
Additions 846
At 30 April 2024 55,686
Depreciation
At 1 May 2023 53,364
Charge for the year 913
At 30 April 2024 54,277
Net book value
At 30 April 2024 1,409
At 30 April 2023 1,476
4 Debtors 2024 2023
£ £
Trade debtors 11,721 20,443
Other debtors 18,595 2,950
30,316 23,393
5 Creditors: amounts falling due within one year 2024 2023
£ £
Bank loans and overdrafts 10,000 10,000
Trade creditors 6,871 4,127
Amounts owed to group undertakings and undertakings in which the company has a participating interest 54,750 -
Corporation tax 3,730 10,464
Taxation and social security costs 19,078 19,083
Other creditors 26,275 17,862
120,704 61,536
6 Creditors: amounts falling due after one year 2024 2023
£ £
Bank loans 10,863 20,833
7 Related party transactions
In accordance with the exemption available in Section 33 of FRS 102; the company has not disclosed transactions with its 100% parent and fellow subsidiary companies within the group.

The company has availed of an exemption available in Section 1.12 of FRS 102 from the requirement to disclose details of the remuneration of 'Key Management Personnel'.
8 Controlling party
The ultimate controlling party is API Partnership Limited, incorporated in United Kingdom.
9 Other information
NICHOLAS ASHLEY LIMITED is a private company limited by shares and incorporated in England. Its registered office is:
75 Westow Hill
London
SE19 1TX
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