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REGISTERED NUMBER: 06553191 (England and Wales)













FINANCIAL STATEMENTS

FOR THE YEAR ENDED 30 APRIL 2024

FOR

ASH DRYWALL LIMITED

ASH DRYWALL LIMITED (REGISTERED NUMBER: 06553191)






CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 APRIL 2024




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 3


ASH DRYWALL LIMITED

COMPANY INFORMATION
FOR THE YEAR ENDED 30 APRIL 2024







DIRECTORS: D M Ash
Mrs C Ash
I A Wallace
S R Jones
P C Sumpter





SECRETARY: Mrs C Ash





REGISTERED OFFICE: Unit 1
Ghyll Road Industrial Estate
Heathfield
East Sussex
TN21 8AW





REGISTERED NUMBER: 06553191 (England and Wales)





AUDITORS: Watson Associates (Audit Services) Ltd
Statutory Auditor
30 - 34 North Street
Hailsham
East Sussex
BN27 1DW

ASH DRYWALL LIMITED (REGISTERED NUMBER: 06553191)

BALANCE SHEET
30 APRIL 2024

2024 2023
Notes £    £   
FIXED ASSETS
Investments 4 2,731,798 2,731,798

CREDITORS
Amounts falling due within one year 5 (1,231,798 ) (1,231,798 )
NET CURRENT LIABILITIES (1,231,798 ) (1,231,798 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

1,500,000

1,500,000

CAPITAL AND RESERVES
Called up share capital 6 53 53
Share premium 1,349,947 1,349,947
Retained earnings 150,000 150,000
SHAREHOLDERS' FUNDS 1,500,000 1,500,000

The 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 Statement of Comprehensive Income has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 27 January 2025 and were signed on its behalf by:





D M Ash - Director


ASH DRYWALL LIMITED (REGISTERED NUMBER: 06553191)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 APRIL 2024

1. STATUTORY INFORMATION

Ash Drywall Limited is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.

2. ACCOUNTING POLICIES

Basis of preparing the financial statements
These financial statements have been prepared in accordance with Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" including the provisions of Section 1A "Small Entities" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.

Going Concern
The group meets its day-to-day working capital requirements through its bank facilities. The group's forecasts and projections, taking account of any plausible change in trading performance, show that the company should be able to operate within the level of its current facilities. After making enquiries, the directors have a reasonable expectation that the group has adequate resources to continue in operational existence for the foreseeable future. The company therefore continues to adopt the going concern basis in preparing its financial statements.

Investments in subsidiaries
Investments in subsidiary undertakings are recognised at cost.

Financial instruments
The company only enters into basic financial instruments transactions that result in the recognition of financial assets and liabilities like trade and other accounts receivable and payable, loans from banks and other third parties, and loans to related parties.

Debt instruments that are payable or receivable within one year are measured initially and subsequently at the undiscounted amount of the cash or other consideration expected to be paid or received; other debt instruments are initially measured at present value of the future payments and subsequently at amortised cost using the effective interest method.

Financial assets that are measured at cost and amortised cost are assessed at the end of each reporting period for objective evidence of impairment. If objective evidence of impairment is found, an impairment loss is recognised in profit or loss.

Financial assets and liabilities are offset and the net amount reported in the balance sheet only when there is an enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously.

Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Income Statement, 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 balance sheet date.


ASH DRYWALL LIMITED (REGISTERED NUMBER: 06553191)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 30 APRIL 2024

2. ACCOUNTING POLICIES - continued
Deferred tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet 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).

4. FIXED ASSET INVESTMENTS
Shares in
group
undertakings
£   
COST
At 1 May 2023
and 30 April 2024 2,731,798
NET BOOK VALUE
At 30 April 2024 2,731,798
At 30 April 2023 2,731,798

5. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Amounts owed to group undertakings 1,231,798 1,231,798

6. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 2024 2023
value: £    £   
44 Ordinary 'A' £1 44 44
3 Ordinary 'B' £1 3 3
3 Ordinary 'C' £1 3 3
1 Ordinary 'D' £1 1 1
1 Ordinary 'E' £1 1 1
1 Ordinary 'F' £1 1 1
53 53

7. DISCLOSURE UNDER SECTION 444(5B) OF THE COMPANIES ACT 2006

The Report of the Auditors was unqualified.

Stephen James Moore (Senior Statutory Auditor)
for and on behalf of Watson Associates (Audit Services) Ltd

ASH DRYWALL LIMITED (REGISTERED NUMBER: 06553191)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 30 APRIL 2024

8. RELATED PARTY DISCLOSURES

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.

During the year the company had the following dealings with related parties:

D M & C Ash Limited, a company in which Ash Drywall Limited owns 100% of the issued share capital
- An amount of £1,231,798 (2023 - £1,231,798) was owed by the company at the balance sheet date.

9. FRC ETHICAL STANDARD - PROVISIONS AVAILABLE FOR SMALL ENTITIES

In common with many other businesses of our size and nature we use our auditors to prepare and submit returns to the tax authorities and assist with the preparation of the financial statements.

10. ULTIMATE CONTROLLING PARTY

The ultimate controlling party is its directors..

Who own a beneficial interest in 100% of the issued share capital with voting rights.