Registered number
02576130
Ash (Timber) Limited
Unaudited Filleted Accounts
31 January 2025
Ash (Timber) Limited
Registered number: 02576130
Balance Sheet
as at 31 January 2025
Notes 2025 2024
£ £
Fixed assets
Intangible assets 3 12,000 15,000
Tangible assets 4 62,100 76,344
74,100 91,344
Current assets
Stocks 109,975 104,500
Debtors 5 53,000 55,419
Cash at bank and in hand 49,674 45,727
212,649 205,646
Creditors: amounts falling due within one year 6 (131,023) (144,963)
Net current assets 81,626 60,683
Total assets less current liabilities 155,726 152,027
Creditors: amounts falling due after more than one year 7 (56,041) (48,321)
Net assets 99,685 103,706
Capital and reserves
Called up share capital 2 2
Profit and loss account 99,683 103,704
Shareholders' funds 99,685 103,706
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.
Mr Alan Hartley
Director
Approved by the board on 3 April 2025
Ash (Timber) Limited
Notes to the Accounts
for the year ended 31 January 2025
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 (as applied to small entities by section 1A of the standard).
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.
Intangible fixed assets
Intangible fixed assets are measured at cost less accumulative amortisation and any accumulative impairment losses.
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:
Motor vehicles 25% reducing balance
Plant and machinery 20% reducing balance
Fixtures and fittings 15% reducing balance
Stocks
Stocks are measured at the lower of cost and estimated selling price less costs to complete and sell. Cost is determined using the first in first out method. The carrying amount of stock sold is recognised as an expense in the period in which the related revenue is recognised.
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.
2 Employees 2025 2024
Number Number
Average number of persons employed by the company 8 8
3 Intangible fixed assets £
Goodwill:
Cost
At 1 February 2024 18,000
At 31 January 2025 18,000
Amortisation
At 1 February 2024 3,000
Provided during the year 3,000
At 31 January 2025 6,000
Net book value
At 31 January 2025 12,000
At 31 January 2024 15,000
Goodwill is being written off in equal annual instalments over its estimated economic life of 5 years.
4 Tangible fixed assets
Land and buildings Plant and machinery etc Motor vehicles Total
£ £ £ £
Cost
At 1 February 2024 4,414 205,357 93,825 303,596
At 31 January 2025 4,414 205,357 93,825 303,596
Depreciation
At 1 February 2024 - 174,812 52,440 227,252
Charge for the year - 8,037 6,207 14,244
At 31 January 2025 - 182,849 58,647 241,496
Net book value
At 31 January 2025 4,414 22,508 35,178 62,100
At 31 January 2024 4,414 30,545 41,385 76,344
5 Debtors 2025 2024
£ £
Trade debtors 37,126 39,545
Other debtors 15,874 15,874
53,000 55,419
6 Creditors: amounts falling due within one year 2025 2024
£ £
Bank loans and overdrafts 19,806 42,295
Bounce back loan 4,800 4,800
Obligations under finance lease and hire purchase contracts 3,730 3,730
Trade creditors 66,047 74,252
Taxation and social security costs 31,734 15,800
Directors loan account 1,597 1,353
Other creditors 3,309 2,733
131,023 144,963
7 Creditors: amounts falling due after one year 2025 2024
£ £
Bank loans 16,250 -
Bounce back loan 27,200 32,000
Obligations under finance lease and hire purchase contracts 3,419 7,149
Deferred taxation 9,172 9,172
56,041 48,321
8 Other information
Ash (Timber) Limited is a private company limited by shares and incorporated in England. Its registered office is:
211 Manchester New Road
Alkrington
Middleton
Manchester
M24 1JT
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