Caseware UK (AP4) 2023.0.135 2023.0.135 2024-04-302024-04-302023-05-01falseNo description of principal activity44truetrueThe members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.false 09740552 2023-05-01 2024-04-30 09740552 2022-05-01 2023-04-30 09740552 2024-04-30 09740552 2023-04-30 09740552 c:Director2 2023-05-01 2024-04-30 09740552 d:MotorVehicles 2023-05-01 2024-04-30 09740552 d:MotorVehicles 2024-04-30 09740552 d:MotorVehicles 2023-04-30 09740552 d:MotorVehicles d:OwnedOrFreeholdAssets 2023-05-01 2024-04-30 09740552 d:FurnitureFittings 2023-05-01 2024-04-30 09740552 d:FurnitureFittings 2024-04-30 09740552 d:FurnitureFittings 2023-04-30 09740552 d:FurnitureFittings d:OwnedOrFreeholdAssets 2023-05-01 2024-04-30 09740552 d:OfficeEquipment 2023-05-01 2024-04-30 09740552 d:OfficeEquipment 2024-04-30 09740552 d:OfficeEquipment 2023-04-30 09740552 d:OfficeEquipment d:OwnedOrFreeholdAssets 2023-05-01 2024-04-30 09740552 d:ComputerEquipment 2023-05-01 2024-04-30 09740552 d:ComputerEquipment 2024-04-30 09740552 d:ComputerEquipment 2023-04-30 09740552 d:ComputerEquipment d:OwnedOrFreeholdAssets 2023-05-01 2024-04-30 09740552 d:OwnedOrFreeholdAssets 2023-05-01 2024-04-30 09740552 d:CurrentFinancialInstruments 2024-04-30 09740552 d:CurrentFinancialInstruments 2023-04-30 09740552 d:Non-currentFinancialInstruments 2024-04-30 09740552 d:Non-currentFinancialInstruments 2023-04-30 09740552 d:CurrentFinancialInstruments d:WithinOneYear 2024-04-30 09740552 d:CurrentFinancialInstruments d:WithinOneYear 2023-04-30 09740552 d:ShareCapital 2024-04-30 09740552 d:ShareCapital 2023-04-30 09740552 d:RetainedEarningsAccumulatedLosses 2024-04-30 09740552 d:RetainedEarningsAccumulatedLosses 2023-04-30 09740552 c:FRS102 2023-05-01 2024-04-30 09740552 c:AuditExempt-NoAccountantsReport 2023-05-01 2024-04-30 09740552 c:FullAccounts 2023-05-01 2024-04-30 09740552 c:PrivateLimitedCompanyLtd 2023-05-01 2024-04-30 09740552 2 2023-05-01 2024-04-30 09740552 6 2023-05-01 2024-04-30 09740552 e:PoundSterling 2023-05-01 2024-04-30 iso4217:GBP xbrli:pure

Registered number: 09740552









ASHCOE HOLDINGS LIMITED







UNAUDITED

FINANCIAL STATEMENTS

INFORMATION FOR FILING WITH THE REGISTRAR

FOR THE YEAR ENDED 30 APRIL 2024

 
ASHCOE HOLDINGS LIMITED
REGISTERED NUMBER: 09740552

BALANCE SHEET
AS AT 30 APRIL 2024

2024
2023
Note
£
£

Fixed assets
  

Tangible assets
 4 
127,853
173,000

Investments
 5 
2,818,436
2,750,000

  
2,946,289
2,923,000

Current assets
  

Debtors: amounts falling due after more than one year
 6 
127,000
300,000

Debtors: amounts falling due within one year
 6 
3,054,275
4,331,261

Cash at bank and in hand
 7 
131,719
155,821

  
3,312,994
4,787,082

Creditors: amounts falling due within one year
 8 
(5,923,148)
(7,612,168)

Net current liabilities
  
 
 
(2,610,154)
 
 
(2,825,086)

Total assets less current liabilities
  
336,135
97,914

Provisions for liabilities
  

Deferred tax
  
(19,257)
(19,257)

  
 
 
(19,257)
 
 
(19,257)

Net assets
  
316,878
78,657


Capital and reserves
  

Called up share capital 
  
3,000,100
3,000,100

Profit and loss account
  
(2,683,222)
(2,921,443)

  
316,878
78,657


Page 1

 
ASHCOE HOLDINGS LIMITED
REGISTERED NUMBER: 09740552
    
BALANCE SHEET (CONTINUED)
AS AT 30 APRIL 2024

The directors consider that the Company is entitled to exemption from audit under section 477 of the Companies Act 2006 and members have not required the Company to obtain an audit for the year in question in accordance with section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.

The financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies regime and in accordance with the provisions of FRS 102 Section 1A - small entities.

The financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime.

The Company has opted not to file the statement of comprehensive income in accordance with provisions applicable to companies subject to the small companies' regime.

The financial statements were approved and authorised for issue by the board and were signed on its behalf on 29 January 2025.




J Coe
Director

The notes on pages 3 to 11 form part of these financial statements.

Page 2

 
ASHCOE HOLDINGS LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 APRIL 2024

1.


General information

Ashcoe Holdings Limited is a private company, limited by shares, domiciled in England and Wales, registration number 09740552. The registered office is 53-63 Redbridge Lane East, Ilford, England, IG4 5EY. The principal activity of the company is to provide central services for third party businesses offering Finance, HR, Payroll, IT and Communications and Logistics Planning. Also, to manage properties, collecting rent on behalf of landlords and ensuring properties are maintained.

2.Accounting policies

 
2.1

Basis of preparation of financial statements

The financial statements have been prepared under the historical cost convention unless otherwise specified within these accounting policies and in accordance with FRS 102 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland' and the requirements of the Companies Act 2006. The disclosure requirements of Section 1A of FRS 102 have been applied other than where additional disclosure is required to show a true and fair view.

The preparation of financial statements in compliance with FRS 102 requires the use of certain critical accounting estimates. It also requires management to exercise judgement in applying the Company's accounting policies.

The financial statements are presented in Sterling which is the functional currency of the company and rounded to the nearest pound Sterling.

The following principal accounting policies have been applied:

 
2.2

Foreign currency translation

Functional and presentation currency

The Company's functional and presentational currency is GBP.

Transactions and balances

Foreign currency transactions are translated into the functional currency using the spot exchange rates at the dates of the transactions.

At each period end foreign currency monetary items are translated using the closing rate. Non-monetary items measured at historical cost are translated using the exchange rate at the date of the transaction and non-monetary items measured at fair value are measured using the exchange rate when fair value was determined.

Foreign exchange gains and losses resulting from the settlement of transactions and from the translation at period-end exchange rates of monetary assets and liabilities denominated in foreign currencies are recognised in profit or loss except when deferred in other comprehensive income as qualifying cash flow hedges.

Foreign exchange gains and losses that relate to borrowings and cash and cash equivalents are presented in the Statement of Comprehensive Income within 'finance income or costs'. All other foreign exchange gains and losses are presented in profit or loss within 'other operating income'.

Page 3

 
ASHCOE HOLDINGS LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 APRIL 2024

2.Accounting policies (continued)

 
2.3

Revenue recognition

Turnover is recognised to the extent that it is probable that the economic benefits will flow to the Company and the turnover can be reliably measured. Turnover is measured as the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. The following criteria must also be met before turnover is recognised:

Rendering of services

Turnover from a contract to provide services is recognised in the period in which the services are provided in accordance with the stage of completion of the contract when all of the following conditions are satisfied:
the amount of turnover can be measured reliably;
it is probable that the Company will receive the consideration due under the contract;
the stage of completion of the contract at the end of the reporting period can be measured reliably; and
the costs incurred and the costs to complete the contract can be measured reliably.

Page 4

 
ASHCOE HOLDINGS LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 APRIL 2024

2.Accounting policies (continued)

 
2.4

Tangible fixed assets

Tangible fixed assets under the cost model are stated at historical cost less accumulated depreciation and any accumulated impairment losses. Historical cost includes expenditure that is directly attributable to bringing the asset to the location and condition necessary for it to be capable of operating in the manner intended by management.

Depreciation is charged so as to allocate the cost of assets less their residual value over their estimated useful lives, using the straight line method and reducing balance..

Depreciation is provided on the following basis:

Motor vehicles
-
25% reducing balance
Fixtures and fittings
-
20% straight line
Office equipment
-
20% straight line
Computer equipment
-
3 or 10 years straight line

The assets' residual values, useful lives and depreciation methods are reviewed, and adjusted prospectively if appropriate, or if there is an indication of a significant change since the last reporting date.

Gains and losses on disposals are determined by comparing the proceeds with the carrying amount and are recognised in profit or loss.

 
2.5

Debtors

Short-term debtors are measured at transaction price, less any impairment. Loans receivable are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method, less any impairment.

 
2.6

Cash and cash equivalents

Cash is represented by cash in hand and deposits with financial institutions repayable without penalty on notice of not more than 24 hours. Cash equivalents are highly liquid investments that mature in no more than three months from the date of acquisition and that are readily convertible to known amounts of cash with insignificant risk of change in value.

 
2.7

Financial instruments

Financial instruments are recognised in the Company's Balance Sheet when the Company becomes party to the contractual provisions of the instrument.

Basic financial assets

Basic financial assets, which include trade and other debtors, cash and bank balances, are initially measured at their transaction price (adjusted for transaction costs except in the initial measurement of financial assets that are subsequently measured at fair value through profit and loss) and are subsequently carried at their amortised cost using the effective interest method, less any provision for impairment, unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest.

Discounting is omitted where the effect of discounting is immaterial. The Company's cash and cash equivalents, trade and most other debtors due with the operating cycle fall into this category of
Page 5

 
ASHCOE HOLDINGS LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 APRIL 2024

2.Accounting policies (continued)


2.7
Financial instruments (continued)

financial instruments.

Impairment of financial assets

At the end of each reporting period financial assets measured at amortised cost are assessed for objective evidence of impairment. If an asset is impaired the impairment loss is the difference between the carrying amount and the present value of the estimated cash flows discounted at the asset’s original effective interest rate. The impairment loss is recognised in profit or loss. 

Financial assets are impaired when events, subsequent to their initial recognition, indicate the estimated future cash flows derived from the financial asset(s) have been adversely impacted. The impairment loss will be the difference between the current carrying amount and the present value of the future cash flows at the asset(s) original effective interest rate.

If there is a favourable change in relation to the events surrounding the impairment loss then the impairment can be reviewed for possible reversal. The reversal will not cause the current carrying amount to exceed the original carrying amount had the impairment not been recognised. The impairment reversal is recognised in the profit or loss.

Financial liabilities

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 the deduction of all its liabilities.

Basic financial liabilities, which include trade and other creditors, bank loans and other loans are initially measured at their transaction price (adjusting for transaction costs except in the initial measurement of financial liabilities that are subsequently measured at fair value through profit and loss). When this constitutes a financing transaction, whereby the debt instrument is measured at the present value of the future payments discounted at a market rate of interest, discounting is omitted where the effect of discounting is immaterial.

Debt instruments are subsequently carried at their amortised cost using the effective interest rate method.

Trade creditors are obligations to pay for goods and services that have been acquired in the ordinary course of business from suppliers. Trade creditors are classified as current liabilities if the payment is due within one year. If not, they represent non-current liabilities. Trade creditors are initially recognised at their transaction price and subsequently are measured at amortised cost using the effective interest method. Discounting is omitted where the effect of discounting is immaterial.

Derecognition of financial instruments

Derecognition of financial assets

Financial assets are derecognised when their contractual right to future cash flow expire, or are settled, or when the Company transfers the asset and substantially all the risks and rewards of ownership to another party. If significant risks and rewards of ownership are retained after the transfer to another party, then the Company will continue to recognise the value of the portion of the risks and rewards retained.

Page 6

 
ASHCOE HOLDINGS LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 APRIL 2024

2.Accounting policies (continued)


2.7
Financial instruments (continued)

Derecognition of financial liabilities

Financial liabilities are derecognised when the Company's contractual obligations expire or are discharged or cancelled.

 
2.8

Creditors

Short-term creditors are measured at the transaction price. Other financial liabilities, including bank loans, are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method.

 
2.9

Finance costs

Finance costs are charged to profit or loss over the term of the debt using the effective interest method so that the amount charged is at a constant rate on the carrying amount. Issue costs are initially recognised as a reduction in the proceeds of the associated capital instrument.

 
2.10

Pensions

Defined contribution pension plan

The Company operates a defined contribution plan for its employees. A defined contribution plan is a pension plan under which the Company pays fixed contributions into a separate entity. Once the contributions have been paid the Company has no further payment obligations.

The contributions are recognised as an expense in profit or loss when they fall due. Amounts not paid are shown in accruals as a liability in the Balance Sheet. The assets of the plan are held separately from the Company in independently administered funds.

 
2.11

Interest income

Interest income is recognised in profit or loss using the effective interest method.

 
2.12

Provisions for liabilities

Provisions are recognised when an event has taken place that gives rise to a legal or constructive obligation, a transfer of economic benefits is probable and a reliable estimate can be made.
Provisions are measured as the best estimate of the amount required to settle the obligation, taking into account the related risks and uncertainties.
 
Increases in provisions are generally charged as an expense to profit or loss.

Page 7

 
ASHCOE HOLDINGS LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 APRIL 2024

2.Accounting policies (continued)

 
2.13

Current and deferred taxation

The tax expense for the year comprises current and deferred tax. Tax is recognised in profit or loss except that a charge attributable to an item of income and expense recognised as other comprehensive income or to an item recognised directly in equity is also recognised in other comprehensive income or directly in equity respectively.

The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the balance sheet date in the countries where the Company operates and generates income.

Deferred tax balances are recognised in respect of all timing differences that have originated but not reversed by the balance sheet date, except that:
The recognition of deferred tax assets is limited to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits; and
Any deferred tax balances are reversed if and when all conditions for retaining associated tax allowances have been met.

Deferred tax balances are not recognised in respect of permanent differences except in respect of business combinations, when deferred tax is recognised on the differences between the fair values of assets acquired and the future tax deductions available for them and the differences between the fair values of liabilities acquired and the amount that will be assessed for tax. Deferred tax is determined using tax rates and laws that have been enacted or substantively enacted by the balance sheet date.


 
2.14

Valuation of investments

Investments in unlisted Company shares, whose market value can be reliably determined, are remeasured to market value at each balance sheet date. Gains and losses on remeasurement are recognised in the Statement of Comprehensive Income for the period. Where market value cannot be reliably determined, such investments are stated at historic cost less impairment.

Investments in listed company shares are remeasured to market value at each balance sheet date. Gains and losses on remeasurement are recognised in profit or loss for the period.

 
2.15

Dividends

Dividends on shares recognised as liabilities are recognised as expenses and classified within interest payable.


3.


Employees

The average monthly number of employees, including directors, during the year was 4 (2023 - 4).

Page 8

 
ASHCOE HOLDINGS LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 APRIL 2024

4.


Tangible fixed assets





Motor vehicles
Fixtures and fittings
Office equipment
Computer equipment
Total

£
£
£
£
£



Cost or valuation


At 1 May 2023
154,000
603
53,508
125,511
333,622


Additions
-
-
1,233
399
1,632



At 30 April 2024

154,000
603
54,741
125,910
335,254



Depreciation


At 1 May 2023
12,833
603
53,273
93,913
160,622


Charge for the year on owned assets
35,292
-
359
11,128
46,779



At 30 April 2024

48,125
603
53,632
105,041
207,401



Net book value



At 30 April 2024
105,875
-
1,109
20,869
127,853



At 30 April 2023
141,167
-
235
31,598
173,000

Page 9

 
ASHCOE HOLDINGS LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 APRIL 2024

5.


Fixed asset investments





Listed investments

£



Cost or valuation


At 1 May 2023
2,750,000


Additions
4,566,732


Disposals
(4,498,296)



At 30 April 2024
2,818,436





6.


Debtors

2024
2023
£
£

Due after more than one year

Other debtors
127,000
300,000

127,000
300,000


2024
2023
£
£

Due within one year

Trade debtors
129
5,790

Amounts owed by group undertakings
500,000
1,750,000

Other debtors
2,521,622
2,544,435

Prepayments and accrued income
32,524
31,036

3,054,275
4,331,261



7.


Cash and cash equivalents

2024
2023
£
£

Cash at bank and in hand
131,719
155,821

131,719
155,821


Page 10

 
ASHCOE HOLDINGS LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 APRIL 2024

8.


Creditors: Amounts falling due within one year

2024
2023
£
£

Trade creditors
17,866
32,161

Other taxation and social security
2,825
3,530

Other creditors
5,899,882
7,574,002

Accruals and deferred income
2,575
2,475

5,923,148
7,612,168



9.


Pension commitments

The Company operates a defined contributions pension scheme. The assets of the scheme are held separately from those of the Company in an independently administered fund. The pension cost charge represents contributions payable by the Company to the fund and amounted to £397 (2023 - £995). Contributions totalling £1,879 (2023 - £1,120) were payable to the fund at the balance sheet date.


10.


Related party transactions

At the year end, the following amounts were due from/(to) the related parties:



2024
2023
£
£

Key management personnel
(2,868,659)
(4,535,647)
Entities under common control
(2,528,783)
(1,286,881)
(5,397,442)
(5,822,528)


11.


Controlling party

The ultimate controlling party is J M Coe by virtue of his majority shareholding. 

 
Page 11