Company No:
Contents
Note | 30.06.2024 | 30.04.2023 | ||
£ | £ | |||
Current assets | ||||
Stocks |
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Debtors | 3 |
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Cash at bank and in hand |
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8,180 | 312,636 | |||
Creditors: amounts falling due within one year | 4 | (
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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 |
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Net liabilities | (
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Capital and reserves | ||||
Called-up share capital | 6 |
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Profit and loss account | (
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Total shareholder's deficit | (
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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:
Mark Jonathan Daniel Cox
Director |
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.
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 £.
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.
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 is recognised when the significant risks and rewards are considered to have been transferred to the customer.
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.
All other borrowing costs are recognised in profit or loss in the period in which they are incurred.
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.
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.
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.
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.
Period from 01.05.2023 to 30.06.2024 |
Year ended 30.04.2023 |
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Number | Number | ||
Monthly average number of persons employed by the Company during the period, including directors |
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30.06.2024 | 30.04.2023 | ||
£ | £ | ||
Amounts owed by fellow subsidiaries |
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Other debtors |
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30.06.2024 | 30.04.2023 | ||
£ | £ | ||
Bank loans and overdrafts (secured) |
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Trade creditors |
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Amounts owed to Group undertakings |
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Amounts owed to Parent undertakings |
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Accruals |
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Corporation tax |
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Other taxation and social security |
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Other creditors |
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30.06.2024 | 30.04.2023 | ||
£ | £ | ||
Bank loans (secured) |
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30.06.2024 | 30.04.2023 | ||
£ | £ | ||
Allotted, called-up and fully-paid | |||
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