PTP Accounts Production v23.4.0.336 02131000 Board of Directors 1.1.24 31.12.24 31.12.24 false true false false true false iso4217:GBPiso4217:USDiso4217:EURxbrli:sharesxbrli:pureutr:tonnesutr:kWh021310002023-12-31021310002024-12-31021310002024-01-012024-12-31021310002022-12-31021310002023-01-012023-12-31021310002023-12-3102131000ns15:EnglandWales2024-01-012024-12-3102131000ns14:PoundSterling2024-01-012024-12-3102131000ns10:Director12024-01-012024-12-3102131000ns10:PrivateLimitedCompanyLtd2024-01-012024-12-3102131000ns10:SmallEntities2024-01-012024-12-3102131000ns10:AuditExempt-NoAccountantsReport2024-01-012024-12-3102131000ns10:SmallCompaniesRegimeForDirectorsReport2024-01-012024-12-3102131000ns10:SmallCompaniesRegimeForAccounts2024-01-012024-12-3102131000ns10:FullAccounts2024-01-012024-12-3102131000ns10:Director22024-01-012024-12-3102131000ns10:CompanySecretary12024-01-012024-12-3102131000ns10:RegisteredOffice2024-01-012024-12-3102131000ns5:CurrentFinancialInstruments2024-12-3102131000ns5:CurrentFinancialInstruments2023-12-3102131000ns5:Non-currentFinancialInstruments2024-12-3102131000ns5:Non-currentFinancialInstruments2023-12-3102131000ns5:ShareCapital2024-12-3102131000ns5:ShareCapital2023-12-3102131000ns5:RevaluationReserve2024-12-3102131000ns5:RevaluationReserve2023-12-3102131000ns5:RetainedEarningsAccumulatedLosses2024-12-3102131000ns5:RetainedEarningsAccumulatedLosses2023-12-3102131000ns5:LandBuildings2024-01-012024-12-3102131000ns5:PlantMachinery2024-01-012024-12-3102131000ns5:LandBuildings2023-12-3102131000ns5:PlantMachinery2023-12-3102131000ns5:LandBuildings2024-12-3102131000ns5:PlantMachinery2024-12-3102131000ns5:LandBuildings2023-12-3102131000ns5:PlantMachinery2023-12-3102131000ns5:CurrentFinancialInstrumentsns5:WithinOneYear2024-12-3102131000ns5:CurrentFinancialInstrumentsns5:WithinOneYear2023-12-3102131000ns5:HirePurchaseContractsns5:CurrentFinancialInstrumentsns5:WithinOneYear2024-12-3102131000ns5:HirePurchaseContractsns5:CurrentFinancialInstrumentsns5:WithinOneYear2023-12-3102131000ns5:BetweenOneFiveYearsns5:HirePurchaseContracts2024-12-3102131000ns5:BetweenOneFiveYearsns5:HirePurchaseContracts2023-12-3102131000ns5:HirePurchaseContracts2024-12-3102131000ns5:HirePurchaseContracts2023-12-3102131000ns5:WithinOneYear2024-12-3102131000ns5:WithinOneYear2023-12-3102131000ns5:BetweenOneFiveYears2024-12-3102131000ns5:BetweenOneFiveYears2023-12-3102131000ns5:AllPeriods2024-12-3102131000ns5:AllPeriods2023-12-3102131000ns5:Secured2024-12-3102131000ns5:Secured2023-12-3102131000ns5:AcceleratedTaxDepreciationDeferredTax2024-12-3102131000ns5:AcceleratedTaxDepreciationDeferredTax2023-12-3102131000ns5:DeferredTaxation2023-12-3102131000ns5:DeferredTaxation2024-01-012024-12-3102131000ns5:DeferredTaxation2024-12-3102131000ns5:RevaluationReserve2023-12-31
REGISTERED NUMBER: 02131000 (England and Wales)















UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2024

FOR

ASHBY & MANN LIMITED

ASHBY & MANN LIMITED (REGISTERED NUMBER: 02131000)






CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2024




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


ASHBY & MANN LIMITED

COMPANY INFORMATION
FOR THE YEAR ENDED 31 DECEMBER 2024







DIRECTORS: B Mangiante
Mrs V Mangiante





SECRETARY: Mrs V Mangiante





REGISTERED OFFICE: 94-106 Upper Bond Street
Hinckley
Leicestershire
LE10 1RL





REGISTERED NUMBER: 02131000 (England and Wales)





ACCOUNTANTS: Ian Monk Limited
49 Barrow Road
Burton on the Wolds
Loughborough
Leicestershire
LE12 5TB

ASHBY & MANN LIMITED (REGISTERED NUMBER: 02131000)

BALANCE SHEET
31 DECEMBER 2024

2024 2023
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 1,003,693 1,002,490

CURRENT ASSETS
Stocks 622,689 1,005,144
Debtors 5 78,649 61,263
Cash in hand 7,346 26,130
708,684 1,092,537
CREDITORS
Amounts falling due within one year 6 794,423 1,126,268
NET CURRENT LIABILITIES (85,739 ) (33,731 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

917,954

968,759

CREDITORS
Amounts falling due after more than
one year

7

(17,831

)

(15,833

)

PROVISIONS FOR LIABILITIES 10 (104,750 ) (108,814 )
NET ASSETS 795,373 844,112

CAPITAL AND RESERVES
Called up share capital 10,002 10,002
Revaluation reserve 11 540,448 545,952
Retained earnings 244,923 288,158
795,373 844,112

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 December 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 December 2024 in accordance with Section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for:
(a)ensuring that the company keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006 and
(b)preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of each financial year and of its profit or loss for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the company.

ASHBY & MANN LIMITED (REGISTERED NUMBER: 02131000)

BALANCE SHEET - continued
31 DECEMBER 2024


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 Income Statement has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 17 February 2025 and were signed on its behalf by:





B Mangiante - Director


ASHBY & MANN LIMITED (REGISTERED NUMBER: 02131000)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2024

1. STATUTORY INFORMATION

Ashby & Mann 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 as modified by the revaluation of certain assets.

Turnover
Turnover is measured 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.

ASHBY & MANN LIMITED (REGISTERED NUMBER: 02131000)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 DECEMBER 2024

2. ACCOUNTING POLICIES - continued

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Land and buildings - 2% on cost
Plant and machinery etc - 25% on reducing balance and 20% on cost

Freehold land is not depreciated.

The company previously adopted a policy of revaluing freehold land and buildings and they were stated at their revalued amounts, net of depreciation and any impairment losses. The company has adopted the transition exemption under FRS 102 paragraph 35.10 (d) and has elected to use the previous revaluation as the deemed cost.

The difference between the depreciation based on the deemed cost, charged in the profit and loss account, and that on the original historical cost is transferred from the revaluation reserve to retained earnings.

Impairment of fixed assets

At each reporting period end date, the company reviews the carrying amounts of its tangible assets to determine whether there is any indication that those assets have suffered an impairment loss. If any such indication exists, the recoverable amount of the asset is estimated in order to determine the extent of the impairment loss (if any). Where it is not possible to estimate the recoverable amount of an individual asset, the company estimates the recoverable amount of the cash-generating unit to which the asset belongs.

Recoverable amount is the higher of fair value less costs to sell and value in use. In assessing value in use, the estimated future cash flows are discounted to their present value using a pre-tax discount rate that reflects current market assessments of the time value of money and the risks specific to the asset for which the estimates of future cash flows have not been adjusted.

If the recoverable amount of an asset (or cash-generating unit) is estimated to be less than its carrying amount, the carrying amount of the asset (or cash-generating unit) is reduced to its recoverable amount. An impairment loss is recognised immediately in profit or loss, unless the relevant asset is carried at a revalued amount, in which case the impairment loss is treated as a revaluation decrease.

Stocks
Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.

Cost is calculated using the first-in, first-out method and includes purchase, transport and handling costs in bringing stocks to their present location and condition.

ASHBY & MANN LIMITED (REGISTERED NUMBER: 02131000)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 DECEMBER 2024

2. ACCOUNTING POLICIES - continued

Financial instruments
The company has elected to apply the provisions of Section 11 'Basic Financial Instruments' and Section 12 'Other Financial Instrument Issues' of FRS 102 to all of its financial instruments.

Financial instruments are recognised when the company becomes party to the contractual provisions of the instrument.

Financial assets and liabilities are offset, with the net amounts presented in the financial statements, when there is a legally 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.

Basic financial assets
Basic financial assets, which include trade and other debtors and cash and bank balances, are initially measured at transaction price including transaction costs and are subsequently carried at amortised cost using the effective interest method unless the arrangement constitutes a financing transaction, where the financial asset is measured at the present value of the future receipts discounted at the market rate of interest.

Classification of 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 deducting all of its liabilities.

Basic financial liabilities
Basic financial liabilities, including trade and other creditors, are initially recognised at transaction price unless the arrangement constitutes a financing transaction, where the debt instrument is measured at the present value of the future payments discounted at the market rate of interest.

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

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.


ASHBY & MANN LIMITED (REGISTERED NUMBER: 02131000)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 DECEMBER 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.

Hire purchase and leasing commitments
Leases are classified as finance leases whenever the terms of the lease transfer substantially all the risks and rewards of ownership to the lessees. All other leases are classified as operating leases.

Assets held under finance leases are recognised as assets at the lower of the assets fair value at the date of inception and the present value of the minimum lease payments. The related liability is included in the balance sheet as a finance lease obligation. Lease payments are treated as consisting of capital and interest elements. The interest is charged to profit or loss so as to produce a constant periodic rate of interest on the remaining balance of the liability.

Pension costs and other post-retirement benefits
The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate.

Employee benefits
The costs of short term employee benefits are recognised as a liability and an expense, unless those costs are required to be recognised as part of the cost of stock or fixed assets.

The cost of any unused holiday entitlement is recognised in the period in which the employees' services are received.

Termination benefits are recognised immediately as an expense when the company is demonstrably committed to terminate the employment of an employee or to to provide termination benefits.

Going concern
The accounts have been prepared on a going concern basis. Having carried out a detailed review of the company's resources and the challenges presented by the current economic climate, the directors are satisfied that the company has sufficient cash flows to meet its liabilities as they fall due for at least one year from the date of approval of the accounts.

ASHBY & MANN LIMITED (REGISTERED NUMBER: 02131000)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 DECEMBER 2024

2. ACCOUNTING POLICIES - continued

Hire purchase and leasing commitments
Leases are classified as finance leases whenever the terms of the lease transfer substantially all the risks and rewards of ownership to the lessees. All other leases are classified as operating leases.

Assets held under finance leases are recognised as assets at the lower of the assets fair value at the date of inception and the present value of the minimum lease payments. The related liability is included in the balance sheet as a finance lease obligation. Lease payments are treated as consisting of capital and interest elements. The interest is charged to profit or loss so as to produce a constant periodic rate of interest on the remaining balance of the liability.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 21 (2023 - 25 ) .

4. TANGIBLE FIXED ASSETS
Plant and
Land and machinery
buildings etc Totals
£    £    £   
COST OR VALUATION
At 1 January 2024 1,144,466 121,224 1,265,690
Additions - 29,069 29,069
Disposals - (25,801 ) (25,801 )
At 31 December 2024 1,144,466 124,492 1,268,958
DEPRECIATION
At 1 January 2024 158,592 104,608 263,200
Charge for year 10,020 9,682 19,702
Eliminated on disposal - (17,637 ) (17,637 )
At 31 December 2024 168,612 96,653 265,265
NET BOOK VALUE
At 31 December 2024 975,854 27,839 1,003,693
At 31 December 2023 985,874 16,616 1,002,490

Included in cost or valuation of land and buildings is freehold land of £ 600,569 (2023 - £ 600,569 ) which is not depreciated.

ASHBY & MANN LIMITED (REGISTERED NUMBER: 02131000)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 DECEMBER 2024

4. TANGIBLE FIXED ASSETS - continued

Cost or valuation at 31 December 2024 is represented by:

Plant and
Land and machinery
buildings etc Totals
£    £    £   
Valuation in 2006 720,444 - 720,444
Cost 424,022 124,492 548,514
1,144,466 124,492 1,268,958

If land and buildings had not been revalued they would have been included at the following historical cost:

2024 2023
£    £   
Cost 330,082 330,082
Aggregate depreciation 74,937 71,659

Value of land in freehold land and buildings 160,354 160,354

Freehold land and buildings were valued on an open market basis on 31 December 2006 by Castle Commercial Chartered Surveyors .

The company applied the transitional arrangements of Section 35 of FRS 102 and used a previous valuation as the deemed cost for its freehold properties. The properties are being depreciated from the valuation date. As the assets are depreciated or sold an appropriate transfer is made from the revaluation reserve to retained earnings.

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Trade debtors 77,764 61,263
Other debtors 885 -
78,649 61,263

ASHBY & MANN LIMITED (REGISTERED NUMBER: 02131000)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 DECEMBER 2024

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Bank loans and overdrafts 274,148 602,179
Hire purchase contracts (see note 8)
7,999

-
Trade creditors 467,146 466,501
Taxation and social security 17,807 29,670
Other creditors 27,323 27,918
794,423 1,126,268

7. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN
ONE YEAR
2024 2023
£    £   
Bank loans 5,833 15,833
Hire purchase contracts (see note 8)
11,998

-
17,831 15,833

8. LEASING AGREEMENTS

Minimum lease payments fall due as follows:

Hire purchase contracts
2024 2023
£    £   
Net obligations repayable:
Within one year 7,999 -
Between one and five years 11,998 -
19,997 -

Non-cancellable operating leases
2024 2023
£    £   
Within one year 5,724 -
Between one and five years 8,587 -
14,311 -

ASHBY & MANN LIMITED (REGISTERED NUMBER: 02131000)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 DECEMBER 2024

9. SECURED DEBTS

The following secured debts are included within creditors:

2024 2023
£    £   
Hire purchase contracts 19,997 -
Trade creditors 315,255 276,110
Bank loans and overdrafts 264,148 453,628
599,400 729,738

10. PROVISIONS FOR LIABILITIES
2024 2023
£    £   
Deferred tax
Accelerated capital allowances 104,750 108,814

Deferred
tax
£   
Balance at 1 January 2024 108,814
Credit to Income Statement during year (4,064 )
Balance at 31 December 2024 104,750

11. RESERVES
Revaluation
reserve
£   
At 1 January 2024 545,952
Transfer from revaluation
reserve to retained earnings (6,589 )
Deferred tax on revaluation
of fixed assets 1,085

At 31 December 2024 540,448

The revaluation reserve represents the difference between the carrying value of the freehold properties and their historic cost, less any transfers made to the profit and loss reserve representing the difference between historic cost depreciation and the amounts charged in the financial statements and movements on the deferred tax provision in respect of the properties.

12. RELATED PARTY DISCLOSURES

The controlling party is Mr B Mangiante and Mrs V Mangiante.