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COMPANY REGISTRATION NUMBER: 8593095
Ashgrove Contract Services (North West) Limited
Filleted Unaudited Financial Statements
31 August 2024
Ashgrove Contract Services (North West) Limited
Statement of Financial Position
31 August 2024
2024
2023
Note
£
£
Fixed assets
Tangible assets
6
10,391
13,989
Investments
7
270,000
270,000
---------
---------
280,391
283,989
Current assets
Stocks
4,000
950
Debtors
8
89,438
120,847
Cash at bank and in hand
76,045
54,031
---------
---------
169,483
175,828
Creditors: amounts falling due within one year
9
143,811
146,190
---------
---------
Net current assets
25,672
29,638
---------
---------
Total assets less current liabilities
306,063
313,627
Provisions
4,745
3,707
---------
---------
Net assets
301,318
309,920
---------
---------
Capital and reserves
Called up share capital
2
2
Profit and loss account
301,316
309,918
---------
---------
Shareholders funds
301,318
309,920
---------
---------
These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with Section 1A of FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.
In accordance with section 444 of the Companies Act 2006, the statement of income and retained earnings has not been delivered.
For the year ending 31 August 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
Directors' responsibilities:
- The members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476 ;
- The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements .
Ashgrove Contract Services (North West) Limited
Statement of Financial Position (continued)
31 August 2024
These financial statements were approved by the board of directors and authorised for issue on 9 May 2025 , and are signed on behalf of the board by:
Mr B Bradford
Mrs J Bradford
Director
Director
Company registration number: 8593095
Ashgrove Contract Services (North West) Limited
Notes to the Financial Statements
Year ended 31 August 2024
1. General information
The company is a private company limited by shares, registered in England and Wales. The address of the registered office is Ashgrove, Fennant Road, Ponciau, LL14 1PG, Wrexham.
2. Statement of compliance
These financial statements have been prepared in compliance with Section 1A of FRS 102, 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland'.
3. Accounting policies
Basis of preparation
The financial statements have been prepared on the historical cost basis, as modified by the revaluation of certain financial assets and liabilities and investment properties measured at fair value through profit or loss. The financial statements are prepared in sterling, which is the functional currency of the entity.
Judgements and key sources of estimation uncertainty
The preparation of the financial statements requires management to make judgements, estimates and assumptions that affect the amounts reported. These estimates and judgements are continually reviewed and are based on experience and other factors, including expectations of future events that are believed to be reasonable under the circumstances.
Revenue recognition
Turnover is measured at the fair value of the consideration received or receivable for goods supplied and services rendered, net of discounts and Value Added Tax. Revenue from the sale of goods is recognised when the significant risks and rewards of ownership have transferred to the buyer (usually on despatch of the goods); the amount of revenue can be measured reliably; it is probable that the associated economic benefits will flow to the entity; and the costs incurred or to be incurred in respect of the transactions can be measured reliably.
Taxation
The taxation expense represents the aggregate amount of current and deferred tax recognised in the reporting period. Tax is recognised in profit or loss, except to the extent that it relates to items recognised in other comprehensive income or directly in equity. In this case, tax is recognised in other comprehensive income or directly in equity, respectively. Current tax is recognised on taxable profit for the current and past periods. Current tax is measured at the amounts of tax expected to pay or recover using the tax rates and laws that have been enacted or substantively enacted at the reporting date.
Deferred tax is recognised in respect of all timing differences at the reporting date. Unrelieved tax losses and other deferred tax assets are recognised 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 that are expected to apply to the reversal of the timing difference.
Operating leases
Lease income is recognised in profit or loss on a straight line basis over the lease term. The aggregate cost of lease incentives are recognised as a reduction to income over the lease term on a straight-line basis. Costs, including depreciation, incurred in earning the lease income are recognised as an expense. Any initial direct costs incurred in negotiating and arranging the operating lease are added to the carrying amount of the lease and recognised as an expense over the lease term on the same basis as the lease income.
Goodwill
Goodwill arises on business acquisitions and represents the excess of the cost of the acquisition over the company's interest in the net amount of the identifiable assets, liabilities and contingent liabilities of the acquired business. Goodwill is measured at cost less accumulated amortisation and accumulated impairment losses. It is amortised on a straight-line basis over its useful life. Where a reliable estimate of the useful life of goodwill or intangible assets cannot be made, the life is presumed not to exceed ten years.
Amortisation
Amortisation is calculated so as to write off the cost of an asset, less its estimated residual value, over the useful life of that asset as follows:
Goodwill
-
20% straight line
If there is an indication that there has been a significant change in amortisation rate, useful life or residual value of an intangible asset, the amortisation is revised prospectively to reflect the new estimates.
Tangible assets
Tangible assets are initially recorded at cost, and subsequently stated at cost less any accumulated depreciation and impairment losses. Any tangible assets carried at revalued amounts are recorded at the fair value at the date of revaluation less any subsequent accumulated depreciation and subsequent accumulated impairment losses. An increase in the carrying amount of an asset as a result of a revaluation, is recognised in other comprehensive income and accumulated in equity, except to the extent it reverses a revaluation decrease of the same asset previously recognised in profit or loss. A decrease in the carrying amount of an asset as a result of revaluation, is recognised in other comprehensive income to the extent of any previously recognised revaluation increase accumulated in equity in respect of that asset. Where a revaluation decrease exceeds the accumulated revaluation gains accumulated in equity in respect of that asset, the excess shall be recognised in profit or loss.
Depreciation
Depreciation is calculated so as to write off the cost or valuation of an asset, less its residual value, over the useful economic life of that asset as follows:
Plant and machinery
-
25% reducing balance
Motor vehicles
-
25% reducing balance
Investments
Investment property is initially recorded at cost, which includes purchase price and any directly attributable expenditure. Investment property is revalued to its fair value at each reporting date and any changes in fair value are recognised in profit or loss.
Stocks
Stocks are measured at the lower of cost and estimated selling price less costs to complete and sell. Cost includes all costs of purchase, costs of conversion and other costs incurred in bringing the stock to its present location and condition.
Provisions
Provisions are recognised when the entity has an obligation at the reporting date as a result of a past event, it is probable that the entity will be required to transfer economic benefits in settlement and the amount of the obligation can be estimated reliably. Provisions are recognised as a liability in the statement of financial position and the amount of the provision as an expense. Provisions are initially measured at the best estimate of the amount required to settle the obligation at the reporting date and subsequently reviewed at each reporting date and adjusted to reflect the current best estimate of the amount that would be required to settle the obligation. Any adjustments to the amounts previously recognised are recognised in profit or loss unless the provision was originally recognised as part of the cost of an asset. When a provision is measured at the present value of the amount expected to be required to settle the obligation, the unwinding of the discount is recognised as a finance cost in profit or loss in the period it arises.
Financial instruments
The following assets and liabilities within the accounts are classified as financial instruments - trade debtors, trade creditors and directors loans. Directors loans (being repayable upon demand), trade debtors and trade creditors, are measured at the undiscounted amount of cash or other consideration expected to be paid or received. Financial assets that are measured at amortised cost are assessed at the end of each reporting period for objective evidence of impairment. If such evidence is found, an impairment loss is recognised in the statement of Income and Retained Earnings.
4. Employee numbers
The average number of persons employed by the company during the year amounted to 2 (2023: 2 ).
5. Intangible assets
Goodwill
£
Cost
At 1 September 2023 and 31 August 2024
29,000
--------
Amortisation
At 1 September 2023 and 31 August 2024
29,000
--------
Carrying amount
At 31 August 2024
--------
At 31 August 2023
--------
6. Tangible assets
Plant and machinery
Motor vehicles
Total
£
£
£
Cost
At 1 September 2023
6,007
30,240
36,247
Disposals
( 1,516)
( 1,516)
-------
--------
--------
At 31 August 2024
4,491
30,240
34,731
-------
--------
--------
Depreciation
At 1 September 2023
4,777
17,481
22,258
Charge for the year
274
3,189
3,463
Disposals
( 1,381)
( 1,381)
-------
--------
--------
At 31 August 2024
3,670
20,670
24,340
-------
--------
--------
Carrying amount
At 31 August 2024
821
9,570
10,391
-------
--------
--------
At 31 August 2023
1,230
12,759
13,989
-------
--------
--------
7. Investments
Other investments other than loans
£
Cost
At 1 September 2023 and 31 August 2024
270,000
---------
Impairment
At 1 September 2023 and 31 August 2024
---------
Carrying amount
At 31 August 2024
270,000
---------
At 31 August 2023
270,000
---------
8. Debtors
2024
2023
£
£
Trade debtors
86,783
120,052
Other debtors
2,655
795
--------
---------
89,438
120,847
--------
---------
9. Creditors: amounts falling due within one year
2024
2023
£
£
Trade creditors
4,715
9,087
Social security and other taxes
38,786
37,991
Other creditors
100,310
99,112
---------
---------
143,811
146,190
---------
---------
10. Directors' advances, credits and guarantees
The directors operate a current account within the company. The balance of the directors loan account at the start of the year was £95,740 (2023 - £94,842) in credit with net movement of £1,050 and a closing credit balance of £96,790 (2023 - £95,740). The loan is interest free and repayable on demand.