Silverfin false false 30/06/2024 01/05/2023 30/06/2024 Mark Jonathan Daniel Cox 16/08/2000 Oliver Thomas James Cox 10/10/2023 05/07/2018 Nicholas Dean Rogers 16/08/2000 23 January 2025 The company sold the only remaining asset in the financial period. Following the sale of this asset the company has ceased trading and the company will be dissolved as soon as practicable. 04054317 2024-06-30 04054317 bus:Director1 2024-06-30 04054317 bus:Director2 2024-06-30 04054317 bus:Director3 2024-06-30 04054317 2023-04-30 04054317 core:CurrentFinancialInstruments 2024-06-30 04054317 core:CurrentFinancialInstruments 2023-04-30 04054317 core:Non-currentFinancialInstruments 2024-06-30 04054317 core:Non-currentFinancialInstruments 2023-04-30 04054317 core:ShareCapital 2024-06-30 04054317 core:ShareCapital 2023-04-30 04054317 core:RetainedEarningsAccumulatedLosses 2024-06-30 04054317 core:RetainedEarningsAccumulatedLosses 2023-04-30 04054317 core:OtherSubsidiariesTotalIndividuallyImmaterialSubsidiaries core:CurrentFinancialInstruments 2024-06-30 04054317 core:OtherSubsidiariesTotalIndividuallyImmaterialSubsidiaries core:CurrentFinancialInstruments 2023-04-30 04054317 core:CurrentFinancialInstruments core:Secured 2024-06-30 04054317 core:ImmediateParent core:CurrentFinancialInstruments 2024-06-30 04054317 core:ImmediateParent core:CurrentFinancialInstruments 2023-04-30 04054317 bus:OrdinaryShareClass1 2024-06-30 04054317 2023-05-01 2024-06-30 04054317 bus:FilletedAccounts 2023-05-01 2024-06-30 04054317 bus:SmallEntities 2023-05-01 2024-06-30 04054317 bus:AuditExemptWithAccountantsReport 2023-05-01 2024-06-30 04054317 bus:PrivateLimitedCompanyLtd 2023-05-01 2024-06-30 04054317 bus:Director1 2023-05-01 2024-06-30 04054317 bus:Director2 2023-05-01 2024-06-30 04054317 bus:Director3 2023-05-01 2024-06-30 04054317 2022-05-01 2023-04-30 04054317 core:CurrentFinancialInstruments 2023-05-01 2024-06-30 04054317 core:Non-currentFinancialInstruments 2023-05-01 2024-06-30 04054317 bus:OrdinaryShareClass1 2023-05-01 2024-06-30 04054317 bus:OrdinaryShareClass1 2022-05-01 2023-04-30 iso4217:GBP xbrli:pure xbrli:shares

Company No: 04054317 (England and Wales)

ASHTONS (UK) LTD

Unaudited Financial Statements
For the financial period from 01 May 2023 to 30 June 2024
Pages for filing with the registrar

ASHTONS (UK) LTD

Unaudited Financial Statements

For the financial period from 01 May 2023 to 30 June 2024

Contents

ASHTONS (UK) LTD

STATEMENT OF FINANCIAL POSITION

As at 30 June 2024
ASHTONS (UK) LTD

STATEMENT OF FINANCIAL POSITION (continued)

As at 30 June 2024
Note 30.06.2024 30.04.2023
£ £
Current assets
Stocks 0 54,651
Debtors 3 0 257,985
Cash at bank and in hand 8,180 0
8,180 312,636
Creditors: amounts falling due within one year 4 ( 252,956) ( 446,949)
Net current liabilities (244,776) (134,313)
Total assets less current liabilities (244,776) (134,313)
Creditors: amounts falling due after more than one year 5 0 ( 21,667)
Net liabilities ( 244,776) ( 155,980)
Capital and reserves
Called-up share capital 6 300 300
Profit and loss account ( 245,076 ) ( 156,280 )
Total shareholder's deficit ( 244,776) ( 155,980)

For the financial period ending 30 June 2024 the Company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Directors' responsibilities:

These financial statements have been prepared in accordance with the provisions of FRS 102 Section 1A – small entities. The financial statements of Ashtons (UK) Ltd (registered number: 04054317) were approved and authorised for issue by the Board of Directors on 23 January 2025. They were signed on its behalf by:

Mark Jonathan Daniel Cox
Director
ASHTONS (UK) LTD

NOTES TO THE FINANCIAL STATEMENTS

For the financial period from 01 May 2023 to 30 June 2024
ASHTONS (UK) LTD

NOTES TO THE FINANCIAL STATEMENTS

For the financial period from 01 May 2023 to 30 June 2024
1. Accounting policies

The principal accounting policies are summarised below. They have all been applied consistently throughout the financial period and to the preceding financial year, unless otherwise stated.

General information and basis of accounting

Ashtons (UK) Ltd (the Company) is a private company, limited by shares, incorporated in the United Kingdom under the Companies Act 2006 and is registered in England and Wales. The address of the Company's registered office is Leatside Challabrook Lane, Bovey Tracey, Newton Abbot, TQ13 9DF, United Kingdom.

The financial statements have been prepared under the historical cost convention, modified to include certain items at fair value, and in accordance with Section 1A of Financial Reporting Standard 102 (FRS 102) ‘The Financial Reporting Standard applicable in the UK and Republic of Ireland’ issued by the Financial Reporting Council and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime.

The financial statements are presented in pounds sterling which is the functional currency of the Company and rounded to the nearest £.

Going concern

In 2024 the directors made the decision that the Company would cease trading. As a result the financial statements have been prepared on a basis other than the going concern basis of preparation. The directors have included in the financial statements any provision for future costs of terminating the business, which were committed to at the balance sheet date and where appropriate the Company's assets have been written down to their net realisable value.

Reporting period length

Due to the cessation of trade, the year end has been extended by two months to 30 June 2024. Reporting period length has therefore increased from 12 months to a 14 month period of account, therefore, the comparatives are not entirely comparable.

Turnover

Turnover is recognised at the fair value of the consideration received or receivable for goods and services provided in the normal course of business, and is shown net of VAT and other sales related taxes. The fair value of consideration takes into account trade discounts, settlement discounts and volume rebates.

Turnover is recognised when the significant risks and rewards are considered to have been transferred to the customer.

Taxation

Current tax
Current tax is provided at amounts expected to be paid (or recoverable) using the tax rates and laws that have been enacted or substantively enacted at the Statement of Financial Position date.

Deferred tax
Deferred tax arises as a result of including items of income and expenditure in taxation computations in periods different from those in which they are included in the Company's financial statements. Deferred tax is provided in full on timing differences which result in an obligation to pay more or less tax at a future date, at the average tax rates that are expected to apply when the timing differences reverse, based on current tax rates and laws. Deferred tax assets and liabilities are not discounted.

The carrying amount of deferred tax assets are reviewed at each reporting date and a valuation allowance is set up against deferred tax assets so that the net carrying amount equals the highest amount that is more likely than not to be recovered based on current or future taxable profit.

Borrowing costs

Borrowing costs that are directly attributable to acquisition, construction or production of qualifying assets, are capitalised as part of the cost of those assets. Capitalisation begins when both finance costs and expenditures for the asset are being incurred and activities that are necessary to get the asset ready for use are in progress. Capitalisation ceases when substantially all the activities that are necessary to get the asset ready for use are complete.

All other borrowing costs are recognised in profit or loss in the period in which they are incurred.

Impairment of assets

Assets, other than those measured at fair value, are assessed for indicators of impairment at each Statement of Financial Position date. If there is objective evidence of impairment, an impairment loss is recognised in the Statement of Income and Retained Earnings as described below.

Stocks

Stocks are stated at the lower of cost and estimated selling price less costs to sell, which is equivalent to the net realisable value. Cost includes materials, direct labour and an attributable proportion of manufacturing overheads based on normal levels of activity. Cost is calculated using the FIFO (first-in, first-out) method. Provision is made for obsolete, slow-moving or defective items where appropriate.

At each reporting date, an assessment is made for impairment. Any excess of the carrying amount of stocks over its estimated selling price less costs to complete and sell is recognised as an impairment loss in profit or loss. Reversals of impairment losses are also recognised in profit or loss.

Trade and other debtors

Trade and other debtors are initially recognised at fair value and thereafter stated at amortised cost using the effective interest method less impairment losses for bad and doubtful debts, except where the effect of discounting would be immaterial. In such cases the receivables are stated at cost less impairment losses for bad and doubtful debts.

Cash and cash equivalents

Cash and cash equivalents are basic financial assets and include cash in hand, deposits held at call with banks, other short-term liquid investments with original maturities of three months or less, and bank overdrafts. Bank overdrafts are shown within borrowings in creditors: amounts falling due within one year.

Trade and other creditors

Trade and other creditors are initially recognised at fair value and thereafter stated at amortised cost using the effective interest rate method, unless the effect of discounting would be immaterial, in which case they are stated at cost.

Financial instruments

Financial assets and financial liabilities are recognised when the Company becomes a party to the contractual provisions of the instrument.

Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instrument is any contract that evidences a residual interest in the assets of the Company after deducting all of its liabilities.

Financial assets and liabilities are only offset in the Balance Sheet when, and only when there exists a legally enforceable right to set off the recognised amounts and the Company intends either to settle on a net basis, or to realise the asset and settle the liability simultaneously.

Ordinary share capital

The ordinary share capital of the Company is presented as equity.

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. Employees

Period from
01.05.2023 to
30.06.2024
Year ended
30.04.2023
Number Number
Monthly average number of persons employed by the Company during the period, including directors 3 8

3. Debtors

30.06.2024 30.04.2023
£ £
Amounts owed by fellow subsidiaries 0 233,686
Other debtors 0 24,299
0 257,985

4. Creditors: amounts falling due within one year

30.06.2024 30.04.2023
£ £
Bank loans and overdrafts (secured) 0 170,984
Trade creditors 0 6,901
Amounts owed to Group undertakings 0 72,000
Amounts owed to Parent undertakings 4,141 6,126
Accruals 1,600 5,500
Corporation tax 19 737
Other taxation and social security 0 2,335
Other creditors 247,196 182,366
252,956 446,949

The bank loans are secured by a fixed and flloating charge over the assets of the company.

5. Creditors: amounts falling due after more than one year

30.06.2024 30.04.2023
£ £
Bank loans (secured) 0 21,667

The bank loans are secured by a fixed and floating charge on the assets of the company.

6. Called-up share capital

30.06.2024 30.04.2023
£ £
Allotted, called-up and fully-paid
300 Ordinary shares of £ 1.00 each 300 300