2023-06-01 04430704 2024-05-31 04430704 2023-06-01 2024-05-31 04430704 2023-05-31 04430704 2022-06-01 2023-05-31 04430704 uk-core:WithinOneYear 2023-05-31 04430704 uk-core:WithinOneYear 2024-05-31 04430704 uk-core:AfterOneYear 2023-05-31 04430704 uk-core:AfterOneYear 2024-05-31 04430704 uk-core:ShareCapital 2024-05-31 04430704 uk-core:ShareCapital 2023-05-31 04430704 uk-core:InvestmentPropertiesRevaluationReserve 2024-05-31 04430704 uk-core:InvestmentPropertiesRevaluationReserve 2023-05-31 04430704 uk-core:RetainedEarningsAccumulatedLosses 2024-05-31 04430704 uk-core:RetainedEarningsAccumulatedLosses 2023-05-31 04430704 uk-bus:Director1 2023-06-01 2024-05-31 04430704 uk-core:IndeterminateMaturityNon-expiringFinancialInstruments 2024-05-31 04430704 uk-core:IndeterminateMaturityNon-expiringFinancialInstruments 2023-05-31 04430704 uk-core:AfterOneYear 2023-06-01 2024-05-31 iso4217:GBP xbrli:pure 04430704 uk-bus:AuditExemptWithAccountantsReport 2023-06-01 2024-05-31 04430704 uk-bus:FRS102 2023-06-01 2024-05-31 04430704 uk-bus:FilletedAccounts 2023-06-01 2024-05-31 04430704 uk-bus:PrivateLimitedCompanyLtd 2023-06-01 2024-05-31
Ashcroft Developments Limited
Registered Number:04430704
For the year ended 31 May 2024
England and Wales
Unaudited Financial Statements
2
For the year ended 31 May 2024
Ashcroft Developments Limited
Contents Page
1
Statement of Financial Position
2 to 4
Notes to the Financial Statements
3
Registered Number :
04430704
As at 31 May 2024
Ashcroft Developments Limited
Statement of Financial Position
£
£
2023
2024
Notes
Fixed assets
2
160,000
160,000
Investment property
160,000
160,000
Current assets
365
Cash and cash equivalents
73
73
365
Trade and other payables: amounts falling due within one
year
(37,235)
(35,987)
3
(36,870)
(35,914)
Net current liabilities
Total assets less current liabilities
124,086
123,130
Trade and other payables: amounts falling due after more
than one year
(97,089)
(97,089)
4
(4,954)
(4,954)
Provisions for liabilities
22,043
Net assets
21,087
Capital and reserves
Called up share capital
1
1
Fair value reserve
21,121
21,121
Retained earnings
921
(35)
22,043
21,087
Shareholders' funds
For the year ended 31 May 2024 the company was entitled to exemption from audit under Section 477 of the Companies Act 2006 relating to small companies.
The members have not required the company to obtain an audit of its financial statements for the year ended 31 May 2024 in accordance with Section 476 of the Companies Act 2006
The director acknowledges his responsibilities for:a) ensuring that the company keeps proper 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 Section
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.
In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered.
The financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.
Mr Thomas Stretton Director
These financial statements were approved and authorised for issue by the Board on 26 February 2025 and were signed by:
1 of 4
4
Registered Number :
04430704
For the year ended 31 May 2024
Ashcroft Developments Limited
Statement of Financial Position Continued
The notes form part of these financial statements
2 of 4
5
For the year ended 31 May 2024
Ashcroft Developments Limited
Notes to the Financial Statements
Statutory Information
Ashcroft Developments Limited is a private limited company, limited by shares, domiciled in England and Wales,
registration number 04430704.
Registered address:
77 Claremont Road
Dudley
West Midlands
DY3 1HW
The presentation currency is £ sterling.
This is the currency of the primary economic market in which the entity operates (its functional currency). All amounts
in these financial statements have been rounded to the nearest pound unless otherwise stated.
1. Accounting policies
Basis of preparing the financial statements
These financial statements have been prepared in accordance with the provisions of Section 1A of Financial
Reporting Standard 102 ''The Financial Reporting Standard applicable in the UK and Republic of Ireland'' and the
Companies Act 2006. The financial statements have been prepared under the historical costs convention as
modified by the revaluation of certain assets.
Even though the company had net current liabilities at the balance sheet date, the director has given assurances to
continue to financially support the company for the forseeable future.
Investment property
Investment property is shown at most recent valuation. Any aggregate surplus or deficit arising from changes in fair value is recognised in profit or loss.
Deferred tax
Deferred tax is provided on timing differences which arise from the inclusion of income and expenses in tax assessments in periods different from those in which they are recognised in the financial statements. Differences between accumulated depreciation and tax allowances for the cost of a fixed asset, if and when all conditions for retaining the tax allowances have been met, are not provided for. Deferred tax is not recognised on permanent differences arising because certain types of income or expense are non-taxable or are disallowable for tax or because certain tax charges or allowances are greater or smaller than the corresponding income or expense. Deferred tax is measured at the tax rate that is expected to apply to the reversal of the related difference, using tax rates enacted or substantively enacted at the balance sheet date. Deferred tax balances are not discounted. 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.
Financial instruments
Financial instruments are classified and accounted for, according to the substance of the contractual arrangement,
as either financial assets, financial liabilities or equity instruments. An equity instrument is any contract that
evidences a residual interest in the assets of the company after deducting all of its liabilities.
3 of 4
6
For the year ended 31 May 2024
Ashcroft Developments Limited
Notes to the Financial Statements Continued
2. Investment property
Total
£
Fair value
At 01 June 2023
160,000
At 31 May 2024
160,000
Net book value
At 31 May 2024
160,000
At 31 May 2023
160,000
Investment properties are revalued annually at the balance sheet date by the director.
3. Trade and other payables: amounts falling due within one year
2023
2024
£
£
Taxation and social security
224
16
Other creditors
35,763
37,219
35,987
37,235
4. Trade and other payables: amounts falling due after more than one year
2023
2024
£
£
Debentures
97,089
97,089
Analysis of creditors falling due after more than five years:
Payable by instalments
97,089
97,089
A first legal charge was created on 26 August 2021 by the lender over the investment property held by the company, in respect of the company's commercial mortgage.
5. Directors advances and guarantees
At 31 May 2024 the company owed the director £35,031 (2023 - £36,535). This amount is included in other creditors.
6. Average number of persons employed
During the year the average number of employees was 0
4 of 4