REGISTERED NUMBER: |
FINANCIAL STATEMENTS |
FOR THE YEAR ENDED 31 JANUARY 2024 |
FOR |
ASHCOURT (BRIDLINGTON) LIMITED |
REGISTERED NUMBER: |
FINANCIAL STATEMENTS |
FOR THE YEAR ENDED 31 JANUARY 2024 |
FOR |
ASHCOURT (BRIDLINGTON) LIMITED |
ASHCOURT (BRIDLINGTON) LIMITED (REGISTERED NUMBER: 09435957) |
CONTENTS OF THE FINANCIAL STATEMENTS |
FOR THE YEAR ENDED 31 JANUARY 2024 |
Page |
Company Information | 1 |
Statement of Financial Position | 2 |
Notes to the Financial Statements | 4 |
ASHCOURT (BRIDLINGTON) LIMITED |
COMPANY INFORMATION |
FOR THE YEAR ENDED 31 JANUARY 2024 |
DIRECTORS: |
REGISTERED OFFICE: |
REGISTERED NUMBER: |
ACCOUNTANTS: |
Medina House |
2 Station Avenue |
Bridlington |
East Yorkshire |
YO16 4LZ |
ASHCOURT (BRIDLINGTON) LIMITED (REGISTERED NUMBER: 09435957) |
STATEMENT OF FINANCIAL POSITION |
31 JANUARY 2024 |
31.1.24 | 31.1.23 |
Notes | £ | £ |
CURRENT ASSETS |
Inventories |
Debtors | 4 |
Cash at bank and in hand |
CREDITORS |
Amounts falling due within one year | 5 |
NET CURRENT (LIABILITIES)/ASSETS | ( |
) |
TOTAL ASSETS LESS CURRENT LIABILITIES |
( |
) |
CREDITORS |
Amounts falling due after more than one year |
6 |
NET LIABILITIES | ( |
) | ( |
) |
CAPITAL AND RESERVES |
Called up share capital | 8 |
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. |
ASHCOURT (BRIDLINGTON) LIMITED (REGISTERED NUMBER: 09435957) |
STATEMENT OF FINANCIAL POSITION - continued |
31 JANUARY 2024 |
The financial statements were approved by the Board of Directors and authorised for issue on |
ASHCOURT (BRIDLINGTON) LIMITED (REGISTERED NUMBER: 09435957) |
NOTES TO THE FINANCIAL STATEMENTS |
FOR THE YEAR ENDED 31 JANUARY 2024 |
1. | STATUTORY INFORMATION |
Ashcourt (Bridlington) Limited is a |
2. | ACCOUNTING POLICIES |
Basis of preparing the financial statements |
As the company has the continued financial support of the directors and shareholders these accounts have been prepared on a going concern basis. |
Related party exemption |
The company has taken advantage of exemption, under the terms of Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland', not to disclose related party transactions with wholly owned subsidiaries within the group. |
Revenue |
Revenue represents the construction and sale of commercial and residential property, measured at fair value, net of discounts and value added tax. |
Work in progress |
Work in progress is valued at the lower of cost and net realisable value. |
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 NIL (2023 - NIL). |
ASHCOURT (BRIDLINGTON) LIMITED (REGISTERED NUMBER: 09435957) |
NOTES TO THE FINANCIAL STATEMENTS - continued |
FOR THE YEAR ENDED 31 JANUARY 2024 |
4. | DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
31.1.24 | 31.1.23 |
£ | £ |
Amounts owed by group undertakings |
Amounts owed by associates |
VAT |
5. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
31.1.24 | 31.1.23 |
£ | £ |
Bank loans and overdrafts |
Other loans |
Trade creditors |
Amounts owed to associates | 8,831,360 | 2,801,083 |
Accrued expenses |
6. | CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR |
31.1.24 | 31.1.23 |
£ | £ |
Other loans - 1-2 years |
7. | SECURED DEBTS |
The following secured debts are included within creditors: |
31.1.24 | 31.1.23 |
£ | £ |
Bank loans |
- | 3,365,000 |
During this financial year the bank loan was repaid and the company refinanced with an other loan which is unsecured. |
8. | CALLED UP SHARE CAPITAL |
Allotted, issued and fully paid: |
Number: | Class: | Nominal | 31.1.24 | 31.1.23 |
value: | £ | £ |
Ordinary | £1 | 100 | 100 |
ASHCOURT (BRIDLINGTON) LIMITED (REGISTERED NUMBER: 09435957) |
NOTES TO THE FINANCIAL STATEMENTS - continued |
FOR THE YEAR ENDED 31 JANUARY 2024 |
9. | RELATED PARTY DISCLOSURES |
The Ashcourt Group is a group of construction companies controlled by K J Bousfield. During the period the company engaged several companies in the Ashcourt Group for construction services, being Ashcourt Construction Limited, Ashcourt Contracts Limited, Ashcourt Group Limited, Ashcourt (Pocklington) Limited, Ashcourt Plant Limited and Eco Custom Homes Limited. |
Ashcourt Properties Limited is a company controlled by the family of a director, K J Bousfield. During the period the company paid expenses and recharged costs to Ashcourt Properties Limited and its subsidiaries. |
As at 31 January 2024 the company was owed an aggregate of £943,335 (2023: £606,575) by, and owed £8,831,360 (2023: £2,801,083) to numerous companies in the Ashcourt Group, and Ashcourt Properties Limited (and its subsidiaries). |
All transactions were conducted on commercial terms. |
The controlling party is Ashcourt Developments Limited. |
The ultimate controlling party is |