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Registration number: 04049547

Ashton Agricultural and General Limited

Annual Report and Unaudited Financial Statements

for the Year Ended 31 March 2025

 

Ashton Agricultural and General Limited

Contents

Company Information

1

Balance Sheet

2 to 3

Notes to the Unaudited Financial Statements

4 to 10

 

Ashton Agricultural and General Limited

Company Information

Directors

Mr M F Keegan

Mr R E F Keegan

Mr T P Keegan

Registered office

Ashlack Hall
Grizebeck
Kirkby-in-Furness
Cumbria
LA17 7XN

 

Ashton Agricultural and General Limited

(Registration number: 04049547)
Balance Sheet as at 31 March 2025

Note

2025
£

2024
£

Fixed assets

Tangible assets

5

4,281,311

4,248,937

Investments

6

9,966

9,966

 

4,291,277

4,258,903

Current assets

 

Stocks

7

5,218

5,218

Debtors

8

2,202,493

1,099,419

Cash at bank and in hand

 

4,501

1,589,321

 

2,212,212

2,693,958

Creditors: Amounts falling due within one year

9

(482,187)

(405,327)

Net current assets

 

1,730,025

2,288,631

Total assets less current liabilities

 

6,021,302

6,547,534

Creditors: Amounts falling due after more than one year

9

(24,583)

(1,008,136)

Net assets

 

5,996,719

5,539,398

Capital and reserves

 

Called up share capital

3,911,150

3,911,150

Share premium reserve

495,094

495,094

Retained earnings

1,590,475

1,133,154

Shareholders' funds

 

5,996,719

5,539,398

For the financial year ending 31 March 2025 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 accounts for the year in question in accordance with section 476; and

The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

 

Ashton Agricultural and General Limited

(Registration number: 04049547)
Balance Sheet as at 31 March 2025

These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime. As permitted by section 444 (5A) of the Companies Act 2006, the directors have not delivered to the registrar a copy of the Profit and Loss Account.

Approved and authorised by the Board on 22 May 2025 and signed on its behalf by:
 

.........................................
Mr M F Keegan
Director

   
     
 

Ashton Agricultural and General Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 March 2025

1

General information

The company is a private company limited by share capital, incorporated in England & Wales.

The address of its registered office is:
Ashlack Hall
Grizebeck
Kirkby-in-Furness
Cumbria
LA17 7XN
United Kingdom

2

Accounting policies

Summary of significant accounting policies and key accounting estimates

The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.

Statement of compliance

These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A smaller entities - 'The Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland' and the Companies Act 2006 (as applicable to companies subject to the small companies' regime).

Basis of preparation

These financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value. Exemption has been taken under the provisions of the Companies Act 2006 from preparing consolidated financial statements. These financial statements therefore contain information about Ashton Agricultural and General Limited as an individual company.

Revenue recognition

Turnover comprises the fair value of the consideration received or receivable for the sale of goods and provision of services in the ordinary course of the company’s activities. Turnover is shown net of sales/value added tax, returns, rebates and discounts.

The company recognises revenue when the amount of revenue can be reliably measured, it is probable that future economic benefits will flow to the entity, and specific criteria have been met for each of the company's activities.

Other operating income

Other operating incomes represents a recharge of services provided to the company's subsidiary undertaking.

Tax

The tax expense for the period comprises deferred tax. Tax is recognised in profit or loss, except that a change attributable to an item of income or expense recognised as other comprehensive income is also recognised directly in other comprehensive income.

 

Ashton Agricultural and General Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 March 2025

The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the reporting date in the countries where the company operates and generates taxable income.

Deferred tax is recognised in respect of all timing differences between taxable profits and profits reported in the financial statements.

Unrelieved tax losses and other deferred tax assets are recognised when 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.

Tangible assets

Tangible assets are stated in the balance sheet at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.

The cost of tangible assets includes directly attributable incremental costs incurred in their acquisition and installation.

Depreciation

Depreciation is charged so as to write off the cost of assets, other than land and properties under construction over their estimated useful lives, as follows:

Asset class

Depreciation method and rate

Freehold buildings

2% on cost

Chattels

25% on cost

Plant and machinery

25% reducing balance

Office equipment

33% straight line

Motor vehicles

25% reducing balance

Investment property

Investment property is measured at cost on initial purchase. Subsequently, investment property is measured at fair value at the reporting date with any changes recognised in profit or loss.

Herd basis

Under the herd basis, rather than recognising animals as trading stock, the herd is capitalised as a tangible fixed asset for tax purposes.

Investments

Investments in subsidiary undertakings are shown at cost less provision for impairment.

Cash and cash equivalents

Cash and cash equivalents comprise cash on hand and call deposits, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value.

 

Ashton Agricultural and General Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 March 2025

Debtors

Trade debtors are amounts due from customers for merchandise sold or services performed in the ordinary course of business.

Trade debtors are recognised initially at the transaction price. They are subsequently measured at amortised cost using the effective interest method, less provision for impairment. A provision for the impairment of trade debtors is established when there is objective evidence that the company will not be able to collect all amounts due according to the original terms of the receivables.

Stocks

Stock represents cost of consumables. At each reporting date stocks are assessed for impairment. If stocks are impaired, the carrying amount is reduced to its realisable value; the impairment loss is recognised immediately in profit or loss.

Creditors

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Accounts payable are classified as current liabilities if the company does not have an unconditional right, at the end of the reporting period, to defer settlement of the creditor for at least twelve months after the reporting date. If there is an unconditional right to defer settlement for at least twelve months after the reporting date, they are presented as non-current liabilities.

Trade creditors are recognised initially at the transaction price and subsequently measured at amortised cost using the effective interest method.

Borrowings

Interest-bearing borrowings are initially recorded at fair value, net of transaction costs. Interest-bearing borrowings are subsequently carried at amortised cost, with the difference between the proceeds, net of transaction costs, and the amount due on redemption being recognised as a charge to the profit and loss account over the period of the relevant borrowing.

Interest expense is recognised on the basis of the effective interest method and is included in interest payable and similar charges.

Borrowings are classified as current liabilities unless the company has an unconditional right to defer settlement of the liability for at least twelve months after the reporting date.

Share capital

Ordinary shares are classified as equity. Equity instruments are measured at the fair value of the cash or other resources received or receivable, net of the direct costs of issuing the equity instruments. If payment is deferred and the time value of money is material, the initial measurement is on a present value basis.

 

Ashton Agricultural and General Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 March 2025

Financial instruments

The company only enters into basic financial instruments transactions that result in the recognition of financial assets and liabilities like trade and other debtors and creditors, loans from banks and other third parties, loans to related parties and investments in non-puttable ordinary shares.

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 profit or loss. Financial assets and liabilities are offset and the net amount reported in the balance sheet 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.

3

Staff numbers

The average number of persons employed by the company (including directors) during the year, was 10 (2024 - 7).

4

Taxation

2025
£

2024
£

Taxation

Amounts received for the surrender of group losses

-

(16,834)

Origination and reversal of timing differences

35,600

4,451

35,600

(12,383)


 

 

Ashton Agricultural and General Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 March 2025

5

Tangible assets

Freehold land and buildings
£

Investment
Property
£

Chattels
£

Plant and machinery
£

Office equipment
£

Motor vehicles
 £

Herd
 £

Total
£

Cost or valuation

At 1 April 2024

3,241,615

916,233

377,567

242,104

4,295

81,356

162,638

5,025,808

Additions

-

5,780

-

54,777

1,466

5,000

14,000

81,023

At 31 March 2025

3,241,615

922,013

377,567

296,881

5,761

86,356

176,638

5,106,831

Depreciation

At 1 April 2024

139,244

-

373,757

190,023

3,470

70,377

-

776,871

Charge for the year

15,472

-

1,499

26,715

968

3,995

-

48,649

At 31 March 2025

154,716

-

375,256

216,738

4,438

74,372

-

825,520

Carrying amount

At 31 March 2025

3,086,899

922,013

2,311

80,143

1,323

11,984

176,638

4,281,311

At 31 March 2024

3,102,371

916,233

3,810

52,081

825

10,979

162,638

4,248,937

 

Ashton Agricultural and General Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 March 2025

6

Investments

Investments

£

At 1 April 2024

9,966

At 31 March 2025

9,966

7

Stocks

2025
£

2024
£

Other inventories

5,218

5,218

8

Debtors

2025
£

2024
£

Trade debtors

28,217

20,279

Prepayments

6,400

9,889

Other debtors

2,167,876

1,069,251

 

2,202,493

1,099,419

9

Creditors

Creditors: amounts falling due within one year

Note

2025
£

2024
£

Due within one year

 

Loans and borrowings

10

468,730

346,381

Trade creditors

 

2,277

2,230

Taxation and social security

 

-

12,663

Other creditors

 

11,180

44,053

 

482,187

405,327

Due after one year

 

Loans and borrowings

10

24,583

-

Other creditors

 

-

1,008,136

 

24,583

1,008,136

 

Ashton Agricultural and General Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 March 2025

10

Loans and borrowings

2025
£

2024
£

Non-current loans and borrowings

Other borrowings

24,583

-

2025
£

2024
£

Current loans and borrowings

Bank overdrafts

287,123

168,586

Directors' loan accounts

181,607

177,795

468,730

346,381

Other borrowings are secured on the assets to which they relate.

Directors' loan accounts are non-interest bearing and have no formal repayment terms.

11

Related party transactions

Transactions with directors

2025

At 1 April 2024
£

Advances to director
£

Repayments by director
£

At 31 March 2025
£

Mr M F Keegan

(3,296)

23,686

(18,000)

2,389

Section 455 tax has not been charged on the overdrawn loan account as the director has agreed to repay the balance within nine months of the year end. Interest has not been charged in accordance with HMRC guidelines as the loan did not exceed £10,000 at any point during the year.