Registered number
04007038
Ashton Consulting Limited
Report and Accounts
31 December 2024
Ashton Consulting Limited
Registered number: 04007038
Balance Sheet
as at 31 December 2024
Notes 2024 2023
£ £
Fixed assets
Tangible assets 3 11,590 14,430
Current assets
Debtors 4 685,675 737,645
Cash at bank and in hand 1,423,552 1,997,931
2,109,227 2,735,576
Creditors: amounts falling due within one year 5 (573,682) (601,371)
Net current assets 1,535,545 2,134,205
Total assets less current liabilities 1,547,135 2,148,635
Creditors: amounts falling due after more than one year 6 (92,855) (91,332)
Net assets 1,454,280 2,057,303
Capital and reserves
Called up share capital 65,500 65,500
Share premium 45,897 45,897
Revaluation reserve 7 (367,940) (227,501)
Profit and loss account 1,710,823 2,173,407
Shareholders' funds 1,454,280 2,057,303
The directors are satisfied that the company is entitled to exemption from the requirement to obtain an audit under section 477 of the Companies Act 2006.
The members have not required the company to obtain an audit in accordance with section 476 of the Act.
The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts.
The accounts have been prepared and delivered in accordance with the special provisions applicable to companies subject to the small companies regime. The profit and loss account has not been delivered to the Registrar of Companies.
Daniel Houghton Underwood
Director
Approved by the board on 31 March 2025
Ashton Consulting Limited
Notes to the Accounts
for the year ended 31 December 2024
1 Accounting policies
Basis of preparation
The accounts have been prepared under the historical cost convention and in accordance with FRS 102, The Financial Reporting Standard applicable in the UK and Republic of Ireland.
The accounts were originally prepared in YEN as this is the operating currency of the branch and have been revalued in Sterling with the exchange rate movments being taken to a non-distributable revaluation reserve.
Turnover
Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover includes revenue earned from the sale of goods and from the rendering of services. Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods have transferred to the buyer. 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
Tangible fixed assets are measured at cost less accumulative depreciation and any accumulative impairment losses. Depreciation is provided on all tangible fixed assets, other than freehold land, at rates calculated to write off the cost, less estimated residual value, of each asset evenly over its expected useful life, as follows:
Fixtures and fittings 15 years
Computer Equipment 6 years
Furniture 8 years
Debtors
Short term debtors are measured at transaction price (which is usually the invoice price), less any impairment losses for bad and doubtful debts. Loans and other financial assets are initially recognised at transaction price including any transaction costs and subsequently measured at amortised cost determined using the effective interest method, less any impairment losses for bad and doubtful debts.
Creditors
Short term creditors are measured at transaction price (which is usually the invoice price). Loans and other financial liabilities are initially recognised at transaction price net of any transaction costs and subsequently measured at amortised cost determined using the effective interest method.
Taxation
A current tax liability is recognised for the tax payable on the taxable profit of the current and past periods. A current tax asset is recognised in respect of a tax loss that can be carried back to recover tax paid in a previous period. Deferred tax is recognised in respect of all timing differences between the recognition of income and expenses in the financial statements and their inclusion in tax assessments. 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. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date and that are expected to apply to the reversal of the timing difference, except for revalued land and investment property where the tax rate that applies to the sale of the asset is used. Current and deferred tax assets and liabilities are not discounted. As the operating company is in Japan the taxation paid was all Foreign taxation and as it exceeded the UK taxes there was no additional liability raised.
Provisions
Provisions (ie liabilities of uncertain timing or amount) are recognised when there is an obligation at the reporting date as a result of a past event, it is probable that economic benefit will be transferred to settle the obligation and the amount of the obligation can be estimated reliably.
Foreign currency translation
Transactions in foreign currencies are initially recognised at the rate of exchange ruling at the date of the transaction. At the end of each reporting period foreign currency monetary items are translated at the closing rate of exchange. Non-monetary items that are measured at historical cost are translated at the rate ruling at the date of the transaction. All differences are charged to profit or loss.
The revaluation of the Balance Sheet for reporting purposes only movement for the YEN:Sterling movement is taken to non-distributable reserves. The exchange rate used for preparing these Financials was DEC 2024 YEN 193.85 (DEC 2023: YEN 180.66)
Leased assets
A lease is classified as a finance lease if it transfers substantially all the risks and rewards incidental to ownership. All other leases are classified as operating leases. The rights of use and obligations under finance leases are initially recognised as assets and liabilities at amounts equal to the fair value of the leased assets or, if lower, the present value of the minimum lease payments. Minimum lease payments are apportioned between the finance charge and the reduction in the outstanding liability using the effective interest rate method. The finance charge is allocated to each period during the lease so as to produce a constant periodic rate of interest on the remaining balance of the liability. Leased assets are depreciated in accordance with the company's policy for tangible fixed assets. If there is no reasonable certainty that ownership will be obtained at the end of the lease term, the asset is depreciated over the lower of the lease term and its useful life. Operating lease payments are recognised as an expense on a straight line basis over the lease term.
2 Employees 2024 2023
Number Number
Average number of persons employed by the company 22 23
3 Tangible fixed assets
Fixtures and fittings and Equipment
£
Cost
At 1 January 2024 111,211
Additions/Revaluation 1,004
At 31 December 2024 112,215
Depreciation
At 1 January 2024 96,781
Charge for the year 3,844
At 31 December 2024 100,625
Net book value
At 31 December 2024 11,590
At 31 December 2023 14,430
4 Debtors 2024 2023
£ £
Trade debtors 459,044 503,506
Deferred tax asset 123,229 118,837
Other debtors 103,402 115,302
685,675 737,645
Other debtors includes a rent deposit and other prepayments.
5 Creditors: amounts falling due within one year 2024 2023
£ £
Trade creditors 291,346 235,670
Foreign Corporation tax payable 184,562 265,332
Other taxes and social security costs 97,774 100,369
573,682 601,371
6 Creditors: amounts falling due after one year 2024 2023
£ £
Retirement provision 92,855 91,332
7 Revaluation reserve 2024 2023
£ £
At 1 January 2024 (227,501) 19,864
Loss on Revaluation (140,439) (247,365)
At 31 December 2024 (367,940) (227,501)
This revaluation reserve as per the accounting policy notes arose from the reporting translation
of the Financials from YEN (currency of the operating branch) to Sterling.
Exch rate used Dec 2024: YEN 193.85 (Dec 2023: YEN 180.66)
8 Controlling party
The director owns 100% of the company with effect from June 2024.
9 Other information
Ashton Consulting Limited is a private company limited by shares and incorporated in England. Its registered office is:
9 Danesfield
Ripley
Surrey
GU23 6LS
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