1 August 2023 v2025.5.2 limited_company_frs_102_section_1a_v1_1_2 companies_houseSoftwarefalsetruetruetrueNo description of principal activityfalsetruexbrli:purexbrli:sharesiso4217:GBP142389522023-08-012024-07-31142389522024-07-31142389522023-07-3114238952core:WithinOneYear2024-07-3114238952core:WithinOneYear2023-07-3114238952core:ShareCapital2024-07-3114238952core:ShareCapital2023-07-3114238952core:RetainedEarningsAccumulatedLosses2024-07-3114238952core:RetainedEarningsAccumulatedLosses2023-07-3114238952bus:Director12023-08-012024-07-3114238952bus:RegisteredOffice2023-08-012024-07-3114238952core:NetGoodwill2023-08-012024-07-3114238952core:OfficeEquipment2023-08-012024-07-3114238952core:FurnitureFittingsToolsEquipment2023-08-012024-07-3114238952core:MotorVehicles2023-08-012024-07-31142389522022-07-182023-07-3114238952core:NetGoodwill2024-07-3114238952core:NetGoodwill2023-08-0114238952core:NetGoodwill2023-07-3114238952core:PlantMachinery2023-08-0114238952core:PlantMachinery2023-08-012024-07-3114238952core:PlantMachinery2024-07-3114238952core:PlantMachinery2023-07-311423895212023-08-012024-07-3114238952countries:EnglandWales2023-08-012024-07-3114238952bus:AuditExemptWithAccountantsReport2023-08-012024-07-3114238952bus:PrivateLimitedCompanyLtd2023-08-012024-07-3114238952bus:SmallEntities2023-08-012024-07-3114238952bus:FullAccounts2023-08-012024-07-31
Company registration number:
14238952
Ashleys Of Sussex Ltd
Unaudited Filleted Financial Statements for the year ended
31 July 2024
Ashleys Of Sussex Ltd
Report to the board of directors on the preparation of the unaudited statutory financial statements of Ashleys Of Sussex Ltd
Year ended
31 July 2024
As described on the statement of financial position, the Board of Directors of
Ashleys Of Sussex Ltd
are responsible for the preparation of the
financial statements
for the year ended
31 July 2024
, which comprise the income statement, statement of financial position, statement of changes in equity and related notes.
You consider that the company is exempt from an audit under the Companies Act 2006.
In accordance with your instructions we have compiled these unaudited financial statements in order to assist you to fulfil your statutory responsibilities, from the accounting records and from information and explanations supplied to us.
Barnes Mayer Ltd
One
St. Peters Road
Maidenhead
Berkshire
SL6 7QU
United Kingdom
Date:
24 January 2025
Ashleys Of Sussex Ltd
Statement of Financial Position
31 July 2024
20242023
Note££
Fixed assets    
Intangible assets 5
8,000
 
10,000
 
Tangible assets 6
217,175
 
58,070
 
225,175
 
68,070
 
Current assets    
Debtors 7
15,735
 
21,372
 
Cash at bank and in hand
21,818
 
42,151
 
37,553
 
63,523
 
Creditors: amounts falling due within one year 8
(147,078
)
(119,478
)
Net current liabilities
(109,525
)
(55,955
)
Total assets less current liabilities 115,650   12,115  
Capital and reserves    
Called up share capital
2
 
2
 
Profit and loss account
115,648
 
12,113
 
Shareholders funds
115,650
 
12,115
 
For the year ending
31 July 2024
, the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
Directors' responsibilities:
  • The members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476;
  • The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements.
These
financial statements
have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies’ regime.
In accordance with Section 444 of the Companies Act 2006, the income statement has not been delivered.
These
financial statements
were approved by the board of directors and authorised for issue on
24 January 2025
, and are signed on behalf of the board by:
A Lomer
Director
Company registration number:
14238952
Ashleys Of Sussex Ltd
Notes to the Financial Statements
Year ended
31 July 2024

1 General information

The company is a private company limited by shares and is registered in England and Wales. The address of the registered office is
Unit 2a Golding Barn Business Park
,
Henfield Road
,
Smalldole
,
BN5 9XH
, United Kingdom.

2 Statement of compliance

These
financial statements
have been prepared in compliance with FRS 102 Section 1A, 'The Financial Reporting Standard applicable to the UK and Republic of Ireland'.

3 Accounting policies

Basis of preparation

The
financial statements
have been prepared on the historical cost basis, as modified by the revaluation of certain assets.
The
financial statements
are prepared in sterling, which is the functional currency of the company.

Turnover

Turnover is measured at the fair value of the consideration received or receivable for goods supplied, net of discounts and Value Added Tax.
Revenue from the sale of goods is recognised when the significant risks and rewards of ownership have transferred to the buyer, usually on despatch of the goods; the amount of revenue can be measured reliably; it is probable that the associated economic benefits will flow to the entity; and the costs incurred or to be incurred in respect of the transactions can be measured reliably.

Current tax

Current tax is recognised on taxable profit for the current and past periods. Current tax is measured at the amounts of tax expected to pay or recover using the tax rates and laws that have been enacted or substantively enacted at the reporting date.

Goodwill

Purchased goodwill arises on business acquisitions and represents the difference between the cost of acquisition and the fair values of the identifiable assets and liabilities acquired.
Goodwill is initially recorded at cost, and is subsequently stated at cost less any accumulated amortisation and accumulated impairment losses. It is amortised on a straight-line basis over the useful economic life of the asset. Where a reliable estimate of the useful life of goodwill cannot be made, the life is presumed not to exceed five years.

Tangible assets

Tangible assets are initially measured at cost, and are subsequently measured at cost less any accumulated depreciation and accumulated impairment losses or at a revalued amount.
Any tangible assets carried at a revalued amount are recorded at the fair value at the date of revaluation less any subsequent accumulated depreciation and subsequent accumulated impairment losses.
An increase in the carrying amount of an asset as a result of a revaluation is recognised in other comprehensive income and accumulated in capital and reserves. However, the increase is recognised in profit or loss to the extent that it reverses a revaluation decrease of the same asset previously recognised in profit or loss. A decrease in the carrying amount of an asset as a result of revaluation is recognised in other comprehensive income to the extent of any previously recognised revaluation increase accumulated in capital and reserves. If a revaluation decrease exceeds the accumulated revaluation gains accumulated in capital and reserves in respect of that asset, the excess is recognised in profit or loss.
Depreciation is calculated so as to write off the cost of an asset, less its estimated residual value, over the useful economic life of that asset as follows:
Office equipment
20% Reducing Balance
Fixtures, fittings and equipment
20% Reducing Balance
Motor vehicles
20% Reducing Balance

Finance leases and hire purchase contracts

Assets held under finance leases are recognised in the statement of financial position as assets and liabilities at the lower of the fair value of the assets and the present value of the minimum lease payments, which is determined at the inception of the lease term. Any initial direct costs of the lease are added to the amount recognised as an asset.
Lease payments are apportioned between the finance charges and reduction of the outstanding lease liability using the effective interest method. Finance charges are allocated to each period so as to produce a constant rate of interest on the remaining balance of the liability.

4 Average number of employees

The average number of persons employed by the company during the year was
2
(2023:
2.00
).

5 Intangible assets

Goodwill
£
Cost  
At
1 August 2023
and
31 July 2024
12,000
 
Amortisation  
At
1 August 2023
2,000
 
Charge
2,000
 
At
31 July 2024
4,000
 
Carrying amount  
At
31 July 2024
8,000
 
At 31 July 2023
10,000
 

6 Tangible assets

Plant and machinery etc.
£
Cost  
At
1 August 2023
72,587
 
Additions
240,994
 
Disposals
(33,195
)
At
31 July 2024
280,386
 
Depreciation  
At
1 August 2023
14,517
 
Charge
54,293
 
Disposals
(5,599
)
At
31 July 2024
63,211
 
Carrying amount  
At
31 July 2024
217,175
 
At 31 July 2023
58,070
 

7 Debtors

20242023
££
Trade debtors
15,735
 
21,372
 

8 Creditors: amounts falling due within one year

20242023
££
Trade creditors -  
1,116
 
Taxation and social security
16,400
 
18,127
 
Other creditors
130,678
 
100,235
 
147,078
 
119,478