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REGISTERED NUMBER: 01636698 (England and Wales)















Unaudited Financial Statements for the Year Ended 31 October 2024

for

Astwell Augers Limited

Astwell Augers Limited (Registered number: 01636698)






Contents of the Financial Statements
for the Year Ended 31 October 2024




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


Astwell Augers Limited

Company Information
for the Year Ended 31 October 2024







DIRECTORS: Mr H C D Jones
Mr P J Adams
Mr J P Melton
Mr D J Dicks





SECRETARY: Mr P J Adams





REGISTERED OFFICE: Huntingdon Road
Thrapston
KETTERING
Northamptonshire
NN14 4PT





REGISTERED NUMBER: 01636698 (England and Wales)





ACCOUNTANTS: McCabe Ford Williams
Bank Chambers
61 High Street
Cranbrook
Kent
TN17 3EG

Astwell Augers Limited (Registered number: 01636698)

Balance Sheet
31 October 2024

31.10.24 31.10.23
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 39,693 43,753
Investments 5 1 1
39,694 43,754

CURRENT ASSETS
Stocks 177,078 167,209
Debtors 6 143,681 211,162
Cash at bank and in hand 558,521 559,816
879,280 938,187
CREDITORS
Amounts falling due within one year 7 202,278 238,173
NET CURRENT ASSETS 677,002 700,014
TOTAL ASSETS LESS CURRENT
LIABILITIES

716,696

743,768

PROVISIONS FOR LIABILITIES 8 7,973 10,308
NET ASSETS 708,723 733,460

CAPITAL AND RESERVES
Called up share capital 9 1,000 1,000
Retained earnings 707,723 732,460
SHAREHOLDERS' FUNDS 708,723 733,460

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 October 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 October 2024 in accordance with Section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for:
(a)ensuring that the company keeps 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 Sections 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.

Astwell Augers Limited (Registered number: 01636698)

Balance Sheet - continued
31 October 2024


The financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 15 April 2025 and were signed on its behalf by:




Mr P J Adams - Director



Mr J P Melton - Director


Astwell Augers Limited (Registered number: 01636698)

Notes to the Financial Statements
for the Year Ended 31 October 2024

1. STATUTORY INFORMATION

Astwell Augers Limited is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.

The presentation currency of the financial statements is the Pound Sterling (£).


2. ACCOUNTING POLICIES

Basis of preparing the financial statements
These financial statements have been prepared in accordance with Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" including the provisions of Section 1A "Small Entities" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.

Turnover
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Leasehold property - Over the term of the lease
Improvements to property - Over the term of the lease
Plant, machinery and equipment - 20% on cost and 10% on cost
Motor vehicles - 20% on cost

Stocks
Stocks and work in progress are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.

Cost is calculated using the first-in, first-out method and includes all purchase, transport, and handling costs in bringing stocks to their present location and condition.

Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Income Statement, except to the extent that it relates to items recognised in other comprehensive income or directly in equity.

Current or deferred taxation assets and liabilities are not discounted.

Current tax is recognised at the amount of tax payable using the tax rates and laws that have been enacted or substantively enacted by the balance sheet date.

Deferred tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date.

Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from those in which they are recognised in financial statements. Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the year end and that are expected to apply to the reversal of the timing difference.

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.

Astwell Augers Limited (Registered number: 01636698)

Notes to the Financial Statements - continued
for the Year Ended 31 October 2024

2. ACCOUNTING POLICIES - continued

Foreign currencies
Assets and liabilities in foreign currencies are translated into sterling at the rates of exchange ruling at the balance sheet date. Transactions in foreign currencies are translated into sterling at the rate of exchange ruling at the date of transaction. Exchange differences are taken into account in arriving at the operating result.

Pension costs and other post-retirement benefits
The company operates an auto enrolment compliant workplace pension scheme for the staff and directors. Contributions payable to the company's pension scheme are charged to the profit and loss account in the period to which they relate.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 15 (2023 - 14 ) .

4. TANGIBLE FIXED ASSETS
Plant,
Improvements machinery
Leasehold to and Motor
property property equipment vehicles Totals
£    £    £    £    £   
COST
At 1 November 2023 2,848 3,726 133,478 20,495 160,547
Additions - - 5,746 - 5,746
Disposals - - (1,100 ) - (1,100 )
At 31 October 2024 2,848 3,726 138,124 20,495 165,193
DEPRECIATION
At 1 November 2023 1,828 2,225 107,499 5,242 116,794
Charge for year 285 508 4,914 4,099 9,806
Eliminated on disposal - - (1,100 ) - (1,100 )
At 31 October 2024 2,113 2,733 111,313 9,341 125,500
NET BOOK VALUE
At 31 October 2024 735 993 26,811 11,154 39,693
At 31 October 2023 1,020 1,501 25,979 15,253 43,753

5. FIXED ASSET INVESTMENTS

The company holds one ordinary £1 share in Astwell Augers Trustees Limited.

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.10.24 31.10.23
£    £   
Trade debtors 134,689 198,597
Other debtors 8,992 12,565
143,681 211,162

Astwell Augers Limited (Registered number: 01636698)

Notes to the Financial Statements - continued
for the Year Ended 31 October 2024

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.10.24 31.10.23
£    £   
Trade creditors 120,994 129,914
Taxation and social security 56,451 88,243
Other creditors 24,833 20,016
202,278 238,173

8. PROVISIONS FOR LIABILITIES
31.10.24 31.10.23
£    £   
Deferred tax
Accelerated capital allowances 7,973 10,308

Deferred
tax
£   
Balance at 1 November 2023 10,308
Accelerated capital allowances (2,335 )
Balance at 31 October 2024 7,973

9. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 31.10.24 31.10.23
value: £    £   
1,000 Ordinary £1 1,000 1,000

10. CONTINGENT LIABILITIES

As explained in note 11, the company is guarantor of the loans due by the trustee of the Astwell Augers Employee Trust. In the event that the trustee defaults on the obligations under the terms of the loan, the company would be required to meet any deficit. This obligation is secured by a fixed and floating charge over all the company's property and undertaking.

Astwell Augers Limited (Registered number: 01636698)

Notes to the Financial Statements - continued
for the Year Ended 31 October 2024

11. EMPLOYEE OWNERSHIP TRUST

On 12 June 2017, the entire issued share capital of the company was sold and it is now an "employee owned" company. To achieve this, a new trustee company named Astwell Augers Trustees Ltd was incorporated and acts as trustee of the Astwell Augers Employee Trust ("EOT"). The EOT now owns 100% of Astwell Augers Ltd.

The funding for this transaction was achieved partly through an initial capital contribution of £500,000 from Astwell Augers Ltd and partly through loans from the previous shareholders of £783,000. The loans are held within the EOT but the funding for the repayments is intended to be made by Astwell Augers Ltd. Repayments totalling £469,800 had been made up to the start of this year with a further repayment of £78,300 being paid on 31 January 2024.

The company is guarantor of the loans and interest due by the EOT and this is secured by a fixed and floating charge over all its property and undertaking. It has been determined that the EOT has the legal and beneficial ownership of the company's shares as a result of the influence that it has over its future direction. As a result of this fact the loans have not been recognised as a liability within the company's accounts but are disclosed as a contingent liability in note 10.

During the year, interest of £22,638 was paid on the outstanding loan balances.