REGISTERED NUMBER: |
FINANCIAL STATEMENTS |
FOR THE PERIOD |
12TH SEPTEMBER 2023 TO 30TH JUNE 2024 |
FOR |
ASH CAPITAL PROJECTS LTD |
REGISTERED NUMBER: |
FINANCIAL STATEMENTS |
FOR THE PERIOD |
12TH SEPTEMBER 2023 TO 30TH JUNE 2024 |
FOR |
ASH CAPITAL PROJECTS LTD |
ASH CAPITAL PROJECTS LTD (REGISTERED NUMBER: 15132550) |
CONTENTS OF THE FINANCIAL STATEMENTS |
FOR THE PERIOD 12TH SEPTEMBER 2023 TO 30TH JUNE 2024 |
Page |
Company Information | 1 |
Statement of Financial Position | 2 |
Notes to the Financial Statements | 3 |
ASH CAPITAL PROJECTS LTD |
COMPANY INFORMATION |
FOR THE PERIOD 12TH SEPTEMBER 2023 TO 30TH JUNE 2024 |
DIRECTORS: |
REGISTERED OFFICE: |
REGISTERED NUMBER: |
AUDITORS: |
Chartered Accountants |
& Statutory Auditors |
83 Cambridge Street |
London |
SW1V 4PS |
ASH CAPITAL PROJECTS LTD (REGISTERED NUMBER: 15132550) |
STATEMENT OF FINANCIAL POSITION |
30TH JUNE 2024 |
Notes | £ |
CURRENT ASSETS |
Debtors | 4 |
Cash at bank |
CREDITORS |
Amounts falling due within one year | 5 |
NET CURRENT ASSETS |
TOTAL ASSETS LESS CURRENT LIABILITIES |
CAPITAL AND RESERVES |
Called up share capital | 6 |
Retained earnings |
SHAREHOLDERS' FUNDS |
The financial statements were approved by the Board of Directors and authorised for issue on |
ASH CAPITAL PROJECTS LTD (REGISTERED NUMBER: 15132550) |
NOTES TO THE FINANCIAL STATEMENTS |
FOR THE PERIOD 12TH SEPTEMBER 2023 TO 30TH JUNE 2024 |
1. | STATUTORY INFORMATION |
Ash Capital Projects Ltd is a |
2. | ACCOUNTING POLICIES |
Basis of preparing the financial statements |
Financial Reporting Standard 102 - reduced disclosure exemptions |
The company has taken advantage of the following disclosure exemptions in preparing these financial statements, as permitted by FRS 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland": |
- the requirements of Section 7 Statement of Cash Flows; |
- the requirement of paragraph 3.17(d); |
- the requirements of paragraphs 11.42, 11.44, 11.45, 11.47, 11.48(a)(iii), 11.48(a)(iv), 11.48(b) and |
11.48(c); |
- the requirements of paragraphs 12.26, 12.27, 12.29(a), 12.29(b) and 12.29A; |
- the requirement of paragraph 33.7. |
The information is included in the consolidated financial statements of Ash Connect Limited and these financial statements may be obtained from 4 The Courtyard, Birling Road, Ryarsh, West Malling, ME19 5AA. |
Critical accounting judgements and key sources of estimation uncertainty |
The preparation of the financial statements requires the use of estimates and assumptions that affect the reported amounts of assets, liabilities, income, and expenses. It also requires management to exercise judgement in applying the company’s accounting policies. These judgements, estimates, and assumptions are continually evaluated and are based on historical experience and other factors, including expectations of future events that are believed to be reasonable under the circumstances. Actual results may differ from these estimates. |
As per notes 5 & 6, the directors have considered the work in progress on all jobs as at the period end, and decided to recognised a value appropriate to the amount recoverable on contracts and costs paid to subcontractors which amounted to £143,483 & £149,534 respectively. |
Turnover |
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. |
Revenue from construction contracts |
Revenue and costs are recognised over time with reference to the stage of completion of the contract activity at the statement of financial position date where the outcome of a contract can be estimated reliably. This is normally measured by surveys of work performed to date. Variations in contract work and claims are included to the extent that it is highly probable that they will result in revenue and they are capable of being reliably measured. |
Where the outcome of a contract cannot be estimated reliably, contract revenue where recoverability is probable is recognised to the extent of contract costs incurred. The costs associated with fulfilling a contract are recognised as expenses in the period in which they are incurred. When it is probable that total contract costs will exceed total contract revenue, the expected loss is recognised as an expense immediately. |
ASH CAPITAL PROJECTS LTD (REGISTERED NUMBER: 15132550) |
NOTES TO THE FINANCIAL STATEMENTS - continued |
FOR THE PERIOD 12TH SEPTEMBER 2023 TO 30TH JUNE 2024 |
2. | ACCOUNTING POLICIES - continued |
Financial instruments |
The company enters into basic financial transactions that result in the recognition of financial assets and liabilities like trade and other debtors and creditors, loans from banks and investments in non-puttable ordinary shares. |
Cash is represented by cash at bank and deposits with financial institutions repayable without penalty on notice of not more than 24 hours. Cash equivalents are highly liquid investments that mature in no more than three months from the date of acquisition and that are readily convertible to known amounts of cash with insignificant risk of change in value. |
Basic financial instruments that are receivable or payable within one year are initially measured at the undiscounted amount of the consideration expected. If receivable or payable after more than one year, basic financial instruments are initially measured at the present value of the future cash flows and subsequently at amortised cost using the effective interest method. If the arrangement constitutes a financing transaction, the financial instrument is measured initially at the present value of the future cash flows, discounted at a market rate of interest. They are subsequently carried at amortised cost, using the effective interest rate method. |
Financial assets that are measured at cost and amortised cost are assessed at the end of each reporting period for objective evidence of impairment. If objective evidence of impairment is found, an impairment loss is recognised in the income statement. |
Financial assets and liabilities are offset and the net amount reported in the statement of financial position when there is an enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously. |
Financial liabilities and equity instruments are classified according to the substance of the financial instrument's contractual obligations, rather than the financial instrument's legal form. |
An equity instrument is any contract that evidences a residual interest in the assets of the company after deducting all of its liabilities. Equity instruments issued by the company are recorded at the proceeds received. |
Taxation |
Taxation for the period 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 statement of financial position date. |
Deferred tax |
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the statement of financial position 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 period 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. |
Hire purchase and leasing commitments |
Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease. |
ASH CAPITAL PROJECTS LTD (REGISTERED NUMBER: 15132550) |
NOTES TO THE FINANCIAL STATEMENTS - continued |
FOR THE PERIOD 12TH SEPTEMBER 2023 TO 30TH JUNE 2024 |
2. | ACCOUNTING POLICIES - continued |
Pension costs and other post-retirement benefits |
The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate. |
3. | EMPLOYEES AND DIRECTORS |
The average number of employees during the period was |
4. | DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
£ |
Trade debtors |
Amounts owed by group undertakings |
Accrued income and amounts |
recoverable on contracts |
Prepayments |
Sales retention control | 63,381 |
5. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
£ |
Trade creditors |
Amounts owed to group undertakings |
Corporation tax payable |
Social security and other taxes |
VAT | 100,415 |
Other creditors |
Subcontractor invoices | 149,534 |
Directors' current accounts | 699 |
Accruals and deferred income |
6. | CALLED UP SHARE CAPITAL |
Allotted, issued and fully paid: |
Number: | Class: | Nominal |
value: | £ |
Ordinary A | 1 | 153 |
Ordinary B | 1 | 147 |
300 |
The following shares were allotted and fully paid for cash at par during the period: |
153 Ordinary A shares of 1 each |
147 Ordinary B shares of 1 each |
7. | DISCLOSURE UNDER SECTION 444(5B) OF THE COMPANIES ACT 2006 |
The Report of the Auditors was unqualified. |
for and on behalf of |
ASH CAPITAL PROJECTS LTD (REGISTERED NUMBER: 15132550) |
NOTES TO THE FINANCIAL STATEMENTS - continued |
FOR THE PERIOD 12TH SEPTEMBER 2023 TO 30TH JUNE 2024 |
8. | RELATED PARTY DISCLOSURES |
During the period, total dividends of £30,000 were paid to the directors . |
9. | ULTIMATE CONTROLLING PARTY AND PARENT UNDERTAKING |
The Ash Connect Employee Ownership Trust is the ultimate controlling party by virtue of its ownership of Ash |
Connect Limited. |
The immediate parent undertaking is Ash Connect Limited. |
The smallest and largest group for which consolidated accounts are prepared which include the results of this company is that headed by Ash Connect Limited and these financial statements may be obtained from 4 The Courtyard, Birling Road, Ryarsh, West Malling, ME19 5AA. |