Company No:
Contents
| Note | 2024 | 2023 | ||
| £ | £ | |||
| Fixed assets | ||||
| Tangible assets | 3 |
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| 940,119 | 865,372 | |||
| Current assets | ||||
| Debtors | 4 |
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| Cash at bank and in hand |
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| 330,522 | 360,822 | |||
| Creditors: amounts falling due within one year | 5 | (
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| Net current liabilities | (377,613) | (262,070) | ||
| Total assets less current liabilities | 562,506 | 603,302 | ||
| Creditors: amounts falling due after more than one year | 6 | (
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| Net assets |
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| Capital and reserves | ||||
| Called-up share capital | 7 |
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| Total shareholders' funds |
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Directors' responsibilities:
The financial statements of Ashcombe Training and Activities Limited (registered number:
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Mr R M Rayner
Director |
The principal accounting policies are summarised below. They have all been applied consistently throughout the financial year and to the preceding financial year, unless otherwise stated.
Ashcombe Training and Activities Limited (the Company) is a private company, limited by shares, incorporated in the United Kingdom under the Companies Act 2006 and is registered in England and Wales. The address of the Company's registered office is: Ashcombe Tower, Near Dawlish, South Devon, EX7 0PY, United Kingdom.
The financial statements have been prepared under the historical cost convention, modified to include the revaluation of freehold properties and to include investment properties and certain items at fair value, and in accordance with Section 1A of Financial Reporting Standard 102 (FRS 102) ‘The Financial Reporting Standard applicable in the UK and Republic of Ireland’ issued by the Financial Reporting Council and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime.
The financial statements are presented in pounds sterling which is the functional currency of the Company and rounded to the nearest £.
The directors have assessed the Balance Sheet and likely future cash flows at the date of approving these financial statements. The directors have a reasonable expectation that the Company has adequate resources to continue in operational existence and to meet its financial obligations as they fall due for at least 12 months from the date of signing these financial statements. Accordingly, they continue to adopt the going concern basis in preparing the financial statements.
Revenue comprises of the following:-
Other revenue - comprises of solar panel income, holiday cottage rental income, commissions receivables for the year and is recognised when the service is provided, rental income which is recognised straight line over the lease provided, and other income derived from ownership of land owned by the company and is recognised when the service is provided.
Grant income comprises of income received from Rural Payments Agency regarding woodland restoration and preservation of the historical site at Castle Dyke. Grants are recognised in the financial statements on the cash basis.
Current tax is provided at amounts expected to be paid (or recoverable) using the tax rates and laws that have been enacted or substantively enacted at the Balance Sheet date.
Deferred tax
Deferred tax arises as a result of including items of income and expenditure in taxation computations in periods different from those in which they are included in the Company's financial statements. Deferred tax is provided in full on timing differences which result in an obligation to pay more or less tax at a future date, at the average tax rates that are expected to apply when the timing differences reverse, based on tax rates and laws substantively enacted at the balance sheet date. Deferred tax assets and liabilities are not discounted.
Woodlands are valued at cost less impairments. Woodland is reviewed annually for impairment.
| Land and buildings | not depreciated |
| Leasehold improvements |
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| Plant and machinery |
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| Vehicles |
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| Fixtures and fittings |
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| Office equipment |
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Assets held under finance leases, hire purchase contracts and other similar arrangements, which confer rights and obligations similar to those attached to owned assets, are capitalised as tangible fixed assets at the fair value of the leased asset (or, if lower, the present value of the minimum lease payments as determined at the inception of the lease) and are depreciated over the shorter of the lease terms and their useful lives. The capital elements of future lease obligations are recorded as liabilities, while the interest elements are charged to the Profit and Loss Account over the period of the leases to produce a constant periodic rate of interest on the remaining balance of the liability.
The Company as lessor
Rental income from operating leases is recognised on a straight-line basis over the term of the relevant lease. Initial direct costs incurred in negotiating and arranging an operating lease are added to the carrying amount of the leased asset and recognised on a straight-line basis over the lease term.
| 2024 | 2023 | ||
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| Monthly average number of persons employed by the Company during the year, including directors |
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| Land and buildings | Leasehold improve- ments |
Plant and machinery | Vehicles | Fixtures and fittings | Office equipment | Total | |||||||
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| Cost | |||||||||||||
| At 01 October 2023 |
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| Additions |
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| Disposals |
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| At 30 September 2024 |
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| Accumulated depreciation | |||||||||||||
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| Charge for the financial year |
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| Disposals |
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| At 30 September 2024 |
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| Net book value | |||||||||||||
| At 30 September 2024 |
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| At 30 September 2023 |
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| 2024 | 2023 | ||
| £ | £ | ||
| Trade debtors |
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| Amounts owed by related parties |
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| Other debtors |
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| 2024 | 2023 | ||
| £ | £ | ||
| Bank loans and overdrafts |
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| Trade creditors |
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| Amounts owed to related parties |
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| Amounts owed to directors |
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| Accruals and deferred income |
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| Taxation and social security |
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| Obligations under finance leases and hire purchase contracts |
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| Other creditors |
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| 2024 | 2023 | ||
| £ | £ | ||
| Bank loans |
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| Obligations under finance leases and hire purchase contracts |
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| 2024 | 2023 | ||
| £ | £ | ||
| Allotted, called-up and fully-paid | |||
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Transactions with the entity's directors
| 2024 | 2023 | ||
| £ | £ | ||
| Director's current account 1 | 9,648 | 3,702 | |
| Director's current account 2 | 18,597 | 157,093 |
The directors pay interest on overdrawn loan account balances during the year to 30 September 2024 at 2.25%. This is accrued on a monthly basis. The total amount of charges for the year to 30 September 2024 was £1,157 (2023: £1,821).
Other related party transactions
| 2024 | 2023 | ||
| £ | £ | ||
| The trust | 15,571 | (99,828) | |
| The partnership | 503,337 | 134,741 |
The owner of Ashcombe Training and Activities Limited is also a beneficiary and trustee of the above trust. The company manages the trust's property income and expenditure. The trust pays commission to the company to cover any costs incurred by the company during the year. This represents the transactions and reimbursement by the trust for fixed assets paid for by the company and the trust's contribution to the directors' loan accounts on behalf of the beneficiaries.
The owner of Ashcombe Training and Activities Limited is also a partner in the above partnership. The company manages the partnership's property income and expenditure. The partnership pays commission to the company to cover any costs incurred by the company during the year. This represents the transactions and reimbursement by the partnership for fixed assets paid for by the company and the partnership's contribution to the directors' loan accounts on behalf of the partners.