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Registered number: 02648437
Ashton (Estate Agency) Limited
Financial Statements
For The Year Ended 31 December 2024
Adams & Moore Ltd
Adams & Moore House
Instone Road
Dartford
DA1 2AG
Contents
Page
Balance Sheet 1—2
Notes to the Financial Statements 3—5
Page 1
Balance Sheet
Registered number: 02648437
2024 2023
Notes £ £ £ £
FIXED ASSETS
Tangible Assets 4 77,181 28,305
77,181 28,305
CURRENT ASSETS
Debtors 5 62,402 65,996
Cash at bank and in hand 94,912 101,785
157,314 167,781
Creditors: Amounts Falling Due Within One Year 6 (83,407 ) (63,961 )
NET CURRENT ASSETS (LIABILITIES) 73,907 103,820
TOTAL ASSETS LESS CURRENT LIABILITIES 151,088 132,125
Creditors: Amounts Falling Due After More Than One Year 7 (48,450 ) (12,025 )
PROVISIONS FOR LIABILITIES
Deferred Taxation (17,543 ) -
NET ASSETS 85,095 120,100
CAPITAL AND RESERVES
Called up share capital 9 25,000 25,000
Capital redemption reserve 25,000 25,000
Profit and Loss Account 35,095 70,100
SHAREHOLDERS' FUNDS 85,095 120,100
Page 1
Page 2
For the year ending 31 December 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.
The company has taken advantage of section 444(1) of the Companies Act 2006 and opted not to deliver to the registrar a copy of the company's Profit and Loss Account.
On behalf of the board
Mr Drummond Mcfadzean
Director
03/04/2025
The notes on pages 3 to 5 form part of these financial statements.
Page 2
Page 3
Notes to the Financial Statements
1. General Information
Ashton (Estate Agency) Limited is a private company, limited by shares, incorporated in England & Wales, registered number 02648437 . The registered office is 1 High Road, Chadwell Heath, Romford, Essex, RM6 6PX.
2. Accounting Policies
2.1. Basis of Preparation of Financial Statements
The financial statements have been prepared under the historical cost convention and in accordance with Financial Reporting Standard 102 section 1A Small Entities "The Financial Reporting Standard applicable in the UK and Republic of Ireland" and the Companies Act 2006.
2.2. 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 is reduced for estimated customer returns, rebates and other similar allowances.
Sale of goods
Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods has transferred to the buyer. This is usually at the point that the customer has signed for the delivery of the goods.
Rendering of services
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. Turnover is only recognised to the extent of recoverable expenses when the outcome of a contract cannot be estimated reliably.
2.3. Tangible Fixed Assets and Depreciation
Tangible fixed assets are measured at cost less accumulated depreciation and any accumulated impairment losses. Depreciation is provided at rates calculated to write off the cost of the fixed assets, less their estimated residual value, over their expected useful lives on the following bases:
Leasehold Nil depreciation
Motor Vehicles 25% Reducing balance
Fixtures & Fittings 25% Reducing balance
Computer Equipment 25% Reducing balance
2.4. Leasing and Hire Purchase Contracts
Assets obtained under finance leases are capitalised as tangible fixed assets. Assets acquired under finance leases are depreciated over the shorter of the lease term and their useful lives. Assets acquired under hire purchase contracts are depreciated over their useful lives. Finance leases are those where substantially all of the benefits and risks of ownership are assumed by the company. Obligations under such agreements are included in the creditors net of the finance charge allocated to future periods. The finance element of the rental payment is charged to the profit and loss account so as to produce a constant periodic rate of charge on the net obligation outstanding in each period.

Rentals applicable to operating leases where substantially all of the benefits and risks of ownership remain with the lessor are charged to profit and loss account as incurred.
2.5. Taxation
Income tax expense represents the sum of the tax currently payable and deferred tax.
The tax currently payable is based on taxable profit for the year. Taxable profit differs from profit as reported in the statement of comprehensive income because of items of income or expense that are taxable or deductible in other years and items that are never taxable or deductible. The company's liability for current tax is calculated using tax rates that have been enacted or substantively enacted by the end of the reporting period.
Deferred tax is recognised on timing differences between the carrying amounts of assets and liabilities in the financial statements and the corresponding tax bases used in the computation of taxable profit. Deferred tax liabilities are generally recognised for all taxable timing differences. Deferred tax assets are generally recognised for all deductible temporary differences to the extent that it is probable that taxable profits will be available against which those deductible timing differences can be utilised. The carrying amount of deferred tax assets is reviewed at the end of each reporting period and reduced to the extent that it is no longer probable that sufficient taxable profits will be available to allow all or part of the asset to be recovered.
...CONTINUED
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2.5. Taxation - continued
Deferred tax assets and liabilities are measured at the tax rates that are expected to apply in the period in which the liability is settled or the asset realised, based on tax rates (and tax laws) that have been enacted or substantively enacted by the end of the reporting period. Deferred tax liabilities are presented within provisions for liabilities and deferred tax assets within debtors. The measurement of deferred tax liabilities and assets reflect the tax consequences that would follow from the manner in which the Company expects, at the end of the reporting period, to recover or settle the carrying amount of its assets and liabilities.
Current and deferred tax are recognised in profit or loss for the year, except when they relate to items that are recognised in other comprehensive income or directly in equity, in which case current and deferred tax are recognised in other comprehensive income or directly in equity respectively.
3. Average Number of Employees
Average number of employees, including directors, during the year was: 10 (2023: 10)
10 10
4. Tangible Assets
Land & Property
Leasehold Motor Vehicles Fixtures & Fittings Computer Equipment Total
£ £ £ £ £
Cost
As at 1 January 2024 11,590 28,549 65,199 17,427 122,765
Additions - 67,273 5,830 1,441 74,544
Disposals - (16,049 ) - - (16,049 )
As at 31 December 2024 11,590 79,773 71,029 18,868 181,260
Depreciation
As at 1 January 2024 - 21,772 60,877 11,811 94,460
Provided during the period - 17,046 2,174 1,476 20,696
Disposals - (11,077 ) - - (11,077 )
As at 31 December 2024 - 27,741 63,051 13,287 104,079
Net Book Value
As at 31 December 2024 11,590 52,032 7,978 5,581 77,181
As at 1 January 2024 11,590 6,777 4,322 5,616 28,305
5. Debtors
2024 2023
£ £
Due within one year
Trade debtors 14,160 8,240
Other debtors 48,242 57,756
62,402 65,996
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Page 5
6. Creditors: Amounts Falling Due Within One Year
2024 2023
£ £
Net obligations under finance lease and hire purchase contracts 10,394 6,348
Trade creditors 18,063 13,904
Bank loans and overdrafts 7,702 8,016
Other creditors 4,000 4,000
Taxation and social security 43,248 31,693
83,407 63,961
7. Creditors: Amounts Falling Due After More Than One Year
2024 2023
£ £
Net obligations under finance lease and hire purchase contracts 42,282 -
Bank loans 6,168 12,025
48,450 12,025
8. Obligations Under Finance Leases and Hire Purchase
2024 2023
£ £
The future minimum finance lease payments are as follows:
Not later than one year 10,394 6,348
Later than one year and not later than five years 42,282 -
52,676 6,348
52,676 6,348
9. Share Capital
2024 2023
£ £
Allotted, Called up and fully paid 25,000 25,000
10. Directors Advances, Credits and Guarantees
Included within Debtors are the following loans to directors:
As at 1 January 2024 Amounts advanced Amounts repaid Amounts written off As at 31 December 2024
£ £ £ £ £
Mr Drummond Mcfadzean 57,756 121,525 131,039 - 48,242
The above loan is unsecured, interest free and repayable on demand.
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