14 16 Ashton Bentley Collaboration Spaces Limited 08202368 false 2024-01-01 2024-06-30 2024-06-30 The principal activity of the company is the design and development of video conferencing technology. Digita Accounts Production Advanced 6.30.9574.0 true false true 08202368 2024-01-01 2024-06-30 08202368 2024-06-30 08202368 bus:OrdinaryShareClass1 2024-06-30 08202368 core:RetainedEarningsAccumulatedLosses 2024-06-30 08202368 core:ShareCapital 2024-06-30 08202368 core:CurrentFinancialInstruments 2024-06-30 08202368 core:CurrentFinancialInstruments core:WithinOneYear 2024-06-30 08202368 core:Non-currentFinancialInstruments core:AfterOneYear 2024-06-30 08202368 core:DevelopmentCostsCapitalisedDevelopmentExpenditure 2024-06-30 08202368 core:Goodwill 2024-06-30 08202368 core:FurnitureFittingsToolsEquipment 2024-06-30 08202368 core:LandBuildings 2024-06-30 08202368 core:MotorVehicles 2024-06-30 08202368 core:OtherPropertyPlantEquipment 2024-06-30 08202368 bus:SmallEntities 2024-01-01 2024-06-30 08202368 bus:AuditExemptWithAccountantsReport 2024-01-01 2024-06-30 08202368 bus:FilletedAccounts 2024-01-01 2024-06-30 08202368 bus:SmallCompaniesRegimeForAccounts 2024-01-01 2024-06-30 08202368 bus:RegisteredOffice 2024-01-01 2024-06-30 08202368 bus:CompanySecretary1 2024-01-01 2024-06-30 08202368 bus:Director1 2024-01-01 2024-06-30 08202368 bus:Director2 2024-01-01 2024-06-30 08202368 bus:OrdinaryShareClass1 2024-01-01 2024-06-30 08202368 bus:PrivateLimitedCompanyLtd 2024-01-01 2024-06-30 08202368 bus:Agent1 2024-01-01 2024-06-30 08202368 core:DevelopmentCostsCapitalisedDevelopmentExpenditure 2024-01-01 2024-06-30 08202368 core:Goodwill 2024-01-01 2024-06-30 08202368 core:IntangibleAssetsOtherThanGoodwill 2024-01-01 2024-06-30 08202368 core:PatentsTrademarksLicencesConcessionsSimilar 2024-01-01 2024-06-30 08202368 core:ComputerEquipment 2024-01-01 2024-06-30 08202368 core:FurnitureFittingsToolsEquipment 2024-01-01 2024-06-30 08202368 core:LandBuildings 2024-01-01 2024-06-30 08202368 core:MotorVehicles 2024-01-01 2024-06-30 08202368 core:OfficeEquipment 2024-01-01 2024-06-30 08202368 core:OtherPropertyPlantEquipment 2024-01-01 2024-06-30 08202368 1 2024-01-01 2024-06-30 08202368 countries:EnglandWales 2024-01-01 2024-06-30 08202368 2023-12-31 08202368 core:DevelopmentCostsCapitalisedDevelopmentExpenditure 2023-12-31 08202368 core:Goodwill 2023-12-31 08202368 core:FurnitureFittingsToolsEquipment 2023-12-31 08202368 core:LandBuildings 2023-12-31 08202368 core:MotorVehicles 2023-12-31 08202368 core:OtherPropertyPlantEquipment 2023-12-31 08202368 2022-10-01 2023-12-31 08202368 2023-12-31 08202368 bus:OrdinaryShareClass1 2023-12-31 08202368 core:RetainedEarningsAccumulatedLosses 2023-12-31 08202368 core:ShareCapital 2023-12-31 08202368 core:CurrentFinancialInstruments 2023-12-31 08202368 core:CurrentFinancialInstruments core:WithinOneYear 2023-12-31 08202368 core:Non-currentFinancialInstruments core:AfterOneYear 2023-12-31 08202368 core:DevelopmentCostsCapitalisedDevelopmentExpenditure 2023-12-31 08202368 core:Goodwill 2023-12-31 08202368 core:FurnitureFittingsToolsEquipment 2023-12-31 08202368 core:LandBuildings 2023-12-31 08202368 core:MotorVehicles 2023-12-31 08202368 core:OtherPropertyPlantEquipment 2023-12-31 xbrli:pure iso4217:GBP xbrli:shares

Ashton Bentley Collaboration Spaces Limited

Annual Report and Unaudited Financial Statements
Period from 1 January 2024 to 30 June 2024

Registration number: 08202368

 

Ashton Bentley Collaboration Spaces Limited

Contents

Company Information

1

Balance Sheet

2 to 3

Notes to the Financial Statements

4 to 12

 

Ashton Bentley Collaboration Spaces Limited

Company Information

Directors

Mr A W Leedham

Mr R N McArdell

Company secretary

Michelmores Secretaries Limited

Registered office

12th Floor
6 New Street Square
London
EC4A 3BF

Accountants

Francis Clark LLP Centenary House
Peninsula Park
Rydon Lane
Exeter
Devon
EX2 7XE

 

Ashton Bentley Collaboration Spaces Limited

Balance Sheet

30 June 2024

Note

2024
£

2023
£

Fixed assets

 

Intangible assets

4

-

240,494

Tangible assets

5

-

109,657

 

-

350,151

Current assets

 

Stocks

6

-

302,000

Debtors

7

2,217,352

3,351,368

Cash at bank and in hand

 

47,512

2,120

 

2,264,864

3,655,488

Creditors: Amounts falling due within one year

8

(568,428)

(1,503,270)

Net current assets

 

1,696,436

2,152,218

Total assets less current liabilities

 

1,696,436

2,502,369

Creditors: Amounts falling due after more than one year

8

-

(304,667)

Provisions for liabilities

187,000

84,500

Net assets

 

1,883,436

2,282,202

Capital and reserves

 

Called up share capital

10

100

100

Profit and loss account

1,883,336

2,282,102

Shareholders' funds

 

1,883,436

2,282,202

 

Ashton Bentley Collaboration Spaces Limited

Balance Sheet

30 June 2024

For the financial period ending 30 June 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 accounts for the period in question in accordance with section 476; and

The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

These financial statements have been prepared and delivered in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006 and the option not to file the Profit and Loss Account has been taken.

Approved and authorised by the Board on 10 January 2025 and signed on its behalf by:
 

.........................................
Mr R N McArdell
Director

Company Registration Number: 08202368

 

Ashton Bentley Collaboration Spaces Limited

Notes to the Financial Statements

Period from 1 January 2024 to 30 June 2024

1

General information

The company is a private company limited by share capital, incorporated in England and Wales.

The address of its registered office is:
12th Floor
6 New Street Square
London
EC4A 3BF

The principal place of business is:
23, Schooner Park
Schooner Court
Crossways Business Park
Dartford
DA2 6NW

2

Accounting policies

Summary of significant accounting policies and key accounting estimates

The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.

Statement of compliance

These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A - 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' and the Companies Act 2006. There are no material departures from FRS 102.

Basis of preparation

These financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.

The functional currency of Ashton Bentley Collaboration Spaces Limited is considered to be pounds sterling because it is the currency of the primary economic environment in which the company operates.

 

Ashton Bentley Collaboration Spaces Limited

Notes to the Financial Statements

Period from 1 January 2024 to 30 June 2024

Going concern

On 10 June 2024 the trade and assets of the company were sold. Since then, the Directors have taken steps to commence a new trade within the company. The financial forecasts for the whole group have also been reviewed for a period of at least 12 months from the approval of these financial statements, including those entered into since the period end. The Directors have concluded that these are sufficient to support the going concern status of the company and, as such, the company remains a going concern and the financial statements have been prepared on this basis.

Revenue recognition

Turnover comprises revenue recognised by the company in respect of goods and services supplied during the year, exclusive of Value Added Tax and trade discounts.

Foreign currency transactions and balances

Transactions in foreign currencies are initially recorded at the functional currency rate prevailing at the date of the transaction. Monetary assets and liabilities denominated in foreign currencies are retranslated into the respective functional currency of the entity at the rates prevailing on the reporting period date. Non-monetary items carried at fair value that are denominated in foreign currencies are retranslated at the rate on the date when the fair value is re-measured.

Non-monetary items measured in terms of historical cost in a foreign currency are not retranslated.

 

Ashton Bentley Collaboration Spaces Limited

Notes to the Financial Statements

Period from 1 January 2024 to 30 June 2024

Tax

Tax is recognised in profit or loss, except that a change attributable to an item of income or expense recognised as other comprehensive income is also recognised directly in other comprehensive income.

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

Deferred tax is recognised on all timing differences at the balance sheet date unless indicated below. Timing differences are differences between taxable profits and the results as stated in the profit and loss account and other comprehensive income. Deferred tax is determined using tax rates and laws that have been enacted or substantively enacted by the reporting date.

The carrying amount of deferred tax assets are reviewed at each reporting date and a valuation allowance is set up against deferred tax assets so that the net carrying amount equals the highest amount that is more likely than not to be recovered based on current or future taxable profit.

Tangible assets

Tangible assets are stated in the balance sheet at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.

The cost of tangible assets includes directly attributable incremental costs incurred in their acquisition and installation.

Depreciation

Depreciation is charged so as to write off the cost of assets, other than land and properties under construction over their estimated useful lives, as follows:

Asset class

Depreciation method and rate

Motor vehicles

25% straight line

Computer equipment

33% straight line

Other equipment

25% straight line

Goodwill

Goodwill is amortised over its useful life, which the directors have deemed as 5 years.

Intangible assets

Development expenditure is written off, except where the directors are satisfied as to the technical, commercial and financial viability of individual projects. In such cases, the identifiable expenditure is deferred and amortised over the period during which the company is expected to benefit.

Amortisation

Amortisation is provided on intangible assets so as to write off the cost, less any estimated residual value, over their useful life as follows:

 

Ashton Bentley Collaboration Spaces Limited

Notes to the Financial Statements

Period from 1 January 2024 to 30 June 2024

Asset class

Amortisation method and rate

Trademarks, patents and licenses

3 - 5 years straight line

Software development costs

3 years straight line

Stocks

Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell. Cost is determined using the first-in, first-out (FIFO) method.

The cost of finished goods and work in progress comprises direct materials and, where applicable, direct labour costs and those overheads that have been incurred in bringing the stocks to their present location and condition. At each reporting date, stocks are assessed for impairment. If stocks are impaired, the carrying amount is reduced to its selling price less costs to complete and sell; the impairment loss is recognised immediately in profit or loss.

Defined contribution pension obligation

A defined contribution plan is a pension plan under which fixed contributions are paid into a pension fund and the company has no legal or constructive obligation to pay further contributions even if the fund does not hold sufficient assets to pay all employees the benefits relating to employee service in the current and prior periods.

Contributions to defined contribution plans are recognised as employee benefit expense when they are due. If contribution payments exceed the contribution due for service, the excess is recognised as a prepayment.

Financial instruments


Classification
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 net assets of the company.

 Recognition and measurement
Financial instruments are recognised when the company becomes party to the contractual provisions of the instrument and derecognised when in the case of assets, the contractual rights to cash flows from the assets expire or substantially all the risks and rewards of ownership are transferred to another party, or in the case of liabilities, when the company’s obligations are discharged, expire or are cancelled.

The company holds the following financial instruments:

• Bank loans and borrowings;
• Short term trade debtors and creditors; and
• Group balances

All of the financial instruments of the company are considered to be basic financial instruments. Such instruments are initially measured at transaction price, including transaction costs. Those instruments considered current are subsequently carried at the undiscounted amount of the cash or other consideration expected to be paid or received, after taking account of impairment adjustments.

 

Ashton Bentley Collaboration Spaces Limited

Notes to the Financial Statements

Period from 1 January 2024 to 30 June 2024

3

Staff numbers

The average number of persons employed by the company (including directors) during the period, was 14 (2023 - 16).

4

Intangible assets

Goodwill
 £

Software development costs
 £

Total
£

Cost or valuation

At 1 January 2024

200,000

2,837,978

3,037,978

Additions acquired separately

-

7,550

7,550

Disposals

(200,000)

(2,845,528)

(3,045,528)

At 30 June 2024

-

-

-

Amortisation

At 1 January 2024

200,000

2,597,484

2,797,484

Amortisation charge

-

(2,517)

(2,517)

Amortisation eliminated on disposals

(200,000)

(2,594,967)

(2,794,967)

At 30 June 2024

-

-

-

Carrying amount

At 30 June 2024

-

-

-

At 31 December 2023

-

240,494

240,494

 

Ashton Bentley Collaboration Spaces Limited

Notes to the Financial Statements

Period from 1 January 2024 to 30 June 2024

5

Tangible assets

Land and buildings
£

Furniture, fittings and equipment
 £

Motor vehicles
 £

Cost or valuation

At 1 January 2024

156,133

164,846

57,937

Additions

-

-

-

Disposals

(156,133)

(164,846)

(57,937)

At 30 June 2024

-

-

-

Depreciation

At 1 January 2024

68,967

163,740

57,937

Eliminated on disposal

(68,967)

(163,740)

(57,937)

At 30 June 2024

-

-

-

Carrying amount

At 30 June 2024

-

-

-

At 31 December 2023

87,166

1,106

-

Other property, plant and equipment
 £

Total
£

Cost or valuation

At 1 January 2024

421,551

800,467

Additions

334

334

Disposals

(421,885)

(800,801)

At 30 June 2024

-

-

Depreciation

At 1 January 2024

400,166

690,810

Eliminated on disposal

(400,166)

(690,810)

At 30 June 2024

-

-

Carrying amount

At 30 June 2024

-

-

At 31 December 2023

21,385

109,657

Included within the net book value of land and buildings above is £Nil (2023 - £87,166) in respect of long leasehold land and buildings.
 

 

Ashton Bentley Collaboration Spaces Limited

Notes to the Financial Statements

Period from 1 January 2024 to 30 June 2024

6

Stocks

2024
£

2023
£

Other inventories

-

302,000

7

Debtors

Note

2024
£

2023
£

Trade debtors

 

36,067

174,962

Amounts owed by group undertakings and undertakings in which the company has a participating interest

2,018,497

2,692,106

Prepayments

 

-

24,828

Other debtors

 

162,788

459,472

 

2,217,352

3,351,368

Other debtors include corporation tax receivable of £72,200 (2023: £149,904).

 

Ashton Bentley Collaboration Spaces Limited

Notes to the Financial Statements

Period from 1 January 2024 to 30 June 2024

8

Creditors

Creditors: amounts falling due within one year

Note

2024
£

2023
£

Due within one year

 

Loans and borrowings

-

305,767

Trade creditors

 

285,291

538,790

Taxation and social security

 

149,677

174,955

Accruals and deferred income

 

121,685

432,651

Other creditors

 

11,775

51,107

 

568,428

1,503,270

Creditors include bank loans and overdrafts and net obligations under finance lease and hire purchase contracts which are secured of £Nil (2023: £201,767).

Creditors: amounts falling due after more than one year

Note

2024
£

2023
£

Due after one year

 

Loans and borrowings

-

304,667

 

Ashton Bentley Collaboration Spaces Limited

Notes to the Financial Statements

Period from 1 January 2024 to 30 June 2024

9

Parent and ultimate parent undertaking

The directors consider there to be no ultimate controlling party or individual.

 The company's immediate parent is Ashton Bentley Group Limited, incorporated in England and Wales.

 

10

Share capital

Allotted, called up and fully paid shares

2024

2023

No.

£

No.

£

Ordinary share of £1 each

100

100

100

100