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Company Registration No. 7282166 (England and Wales)
Ashdown Steel Limited Unaudited accounts for the year ended 30 June 2024
Ashdown Steel Limited Unaudited accounts Contents
Page
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Ashdown Steel Limited Company Information for the year ended 30 June 2024
Directors
Scott Geary Leela Geary
Company Number
7282166 (England and Wales)
Registered Office
Industrial Estate Isfield Road Ringmer East Sussex BN8 5RP
Accountants
Maxwell-Gumbleton & Co. 1 West Street Lewes East Sussex BN7 2NZ
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Ashdown Steel Limited Statement of financial position as at 30 June 2024
2024 
2023 
Notes
£ 
£ 
Fixed assets
Tangible assets
111,559 
112,941 
Current assets
Inventories
4,500 
11,857 
Debtors
185,730 
228,692 
Cash at bank and in hand
35,991 
86,353 
226,221 
326,902 
Creditors: amounts falling due within one year
(252,322)
(322,307)
Net current (liabilities)/assets
(26,101)
4,595 
Total assets less current liabilities
85,458 
117,536 
Creditors: amounts falling due after more than one year
(27,545)
(38,467)
Provisions for liabilities
Deferred tax
(19,388)
(19,192)
Net assets
38,525 
59,877 
Capital and reserves
Called up share capital
2 
2 
Profit and loss account
38,523 
59,875 
Shareholders' funds
38,525 
59,877 
For the year ending 30 June 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 in accordance with section 476 of the Companies Act 2006.
The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
These accounts have been prepared and delivered 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 profit and loss account has not been delivered to the Registrar of Companies.
The financial statements were approved by the Board of Directors and authorised for issue on 21 March 2025 and were signed on its behalf by
Scott Geary Director Company Registration No. 7282166
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Ashdown Steel Limited Notes to the Accounts for the year ended 30 June 2024
1
Statutory information
Ashdown Steel Limited is a private company, limited by shares, registered in England and Wales, registration number 7282166. The registered office is Industrial Estate, Isfield Road, Ringmer, East Sussex, BN8 5RP.
2
Compliance with accounting standards
The accounts have been prepared in accordance with the provisions of FRS 102 Section 1A Small Entities. There were no material departures from that standard.
3
Accounting policies
The principal accounting policies adopted in the preparation of the financial statements are set out below and have remained unchanged from the previous year, and also have been consistently applied within the same accounts.
Basis of preparation
The accounts have been prepared under the historical cost convention as modified by the revaluation of certain fixed assets.
Presentation currency
The accounts are presented in £ sterling.
Turnover
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. Turnover from the sale of goods is recognised when goods have been delivered to customers such that risks and rewards of ownership have transferred to them. Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs.
Tangible fixed assets and depreciation
Tangible assets are included at cost less depreciation and impairment. Depreciation has been provided at the following rates in order to write off the assets over their estimated useful lives:
Land & buildings
10% straight line
Plant & machinery
25% reducing balance
Motor vehicles
25% reducing balance
Inventories
Inventories have been valued at the lower of cost and estimated selling price less costs to complete and sell. In respect of work in progress and finished goods, cost includes a relevant proportion of overheads according to the stage of manufacturing/completion.
Leased assets
Rentals applicable to operating leases where substantially all of the benefits and risks of ownership remain with the lessor are charged against profit on a straight line basis over the lease term. Assets held under finance leases and hire purchase contracts are capitalised and depreciated over their useful lives. The corresponding lease or hire purchase obligation is treated in the balance sheet as a liability. The interest element of rental obligations is charged to the profit and loss account over the period of the lease at a constant proportion of the outstanding balance of capital repayments.
Pension costs
The company operates a defined contribution scheme for the benefit of its employees. Contributions payable are recognised in the profit and loss account when due.
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Ashdown Steel Limited Notes to the Accounts for the year ended 30 June 2024
Deferred taxation
Deferred tax arises as a result of including items of income and expenditure in taxation computations in periods different from those in which they are included in the company's accounts. Deferred tax is provided in full on timing differences which result in an obligation to pay more (or less) tax at a future date, at the average tax rates that are expected to apply when the timing differences reverse, based on current tax rates and laws. Deferred tax assets and liabilities are not discounted.
4
Tangible fixed assets
Land & buildings 
Plant & machinery 
Motor vehicles 
Total 
£ 
£ 
£ 
£ 
Cost or valuation
At cost 
At cost 
At cost 
At 1 July 2023
11,846 
53,897 
153,282 
219,025 
Additions
- 
- 
24,930 
24,930 
At 30 June 2024
11,846 
53,897 
178,212 
243,955 
Depreciation
At 1 July 2023
- 
33,044 
73,040 
106,084 
Charge for the year
- 
5,213 
21,099 
26,312 
At 30 June 2024
- 
38,257 
94,139 
132,396 
Net book value
At 30 June 2024
11,846 
15,640 
84,073 
111,559 
At 30 June 2023
11,846 
20,853 
80,242 
112,941 
5
Debtors
2024 
2023 
£ 
£ 
Amounts falling due within one year
VAT
7,417 
- 
Trade debtors
55,859 
108,510 
Accrued income and prepayments
2,135 
- 
Other debtors
120,319 
120,182 
185,730 
228,692 
6
Creditors: amounts falling due within one year
2024 
2023 
£ 
£ 
Bank loans and overdrafts
10,000 
10,000 
VAT
- 
19,572 
Obligations under finance leases and hire purchase contracts
2,695 
2,695 
Trade creditors
108,030 
144,622 
Taxes and social security
57,579 
81,914 
Other creditors
64,037 
55,883 
Accruals
5,491 
7,621 
Deferred income
4,490 
- 
252,322 
322,307 
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Ashdown Steel Limited Notes to the Accounts for the year ended 30 June 2024
7
Creditors: amounts falling due after more than one year
2024 
2023 
£ 
£ 
Bank loans
9,167 
19,167 
Obligations under finance leases and hire purchase contracts
18,378 
19,300 
27,545 
38,467 
8
Share capital
2024 
2023 
£ 
£ 
Allotted, called up and fully paid:
2 Ordinary shares of £1 each
2 
2 
9
Loans to directors
During the year the director, S Geary had an overdrawn loan account on which interest was charged at 2.25%. The balance on his loan account as at the year end was £44,114(2023: £43,153). The maximum balance during the year was £44,114. During the year the director, L Geary had an overdrawn loan account on which interest was charged at 2.25%. The balance on her loan account as at the year end was £44,114 (2023: £43,153). The maximum balance during the year was £44,114.
10
Average number of employees
During the year the average number of employees was 5 (2023: 6).
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