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Company No: 03081219 (England and Wales)

ASHCOMBE TRAINING AND ACTIVITIES LIMITED

Unaudited Financial Statements
For the financial year ended 30 September 2024
Pages for filing with the registrar

ASHCOMBE TRAINING AND ACTIVITIES LIMITED

Unaudited Financial Statements

For the financial year ended 30 September 2024

Contents

ASHCOMBE TRAINING AND ACTIVITIES LIMITED

BALANCE SHEET

As at 30 September 2024
ASHCOMBE TRAINING AND ACTIVITIES LIMITED

BALANCE SHEET (continued)

As at 30 September 2024
Note 2024 2023
£ £
Fixed assets
Tangible assets 3 940,119 865,372
940,119 865,372
Current assets
Debtors 4 308,575 360,797
Cash at bank and in hand 21,947 25
330,522 360,822
Creditors: amounts falling due within one year 5 ( 708,135) ( 622,892)
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 ( 515,135) ( 556,679)
Provision for liabilities ( 8,500) ( 7,800)
Net assets 38,871 38,823
Capital and reserves
Called-up share capital 7 200,000 200,000
Profit and loss account ( 161,129 ) ( 161,177 )
Total shareholders' funds 38,871 38,823

For the financial year ending 30 September 2024 the Company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Directors' responsibilities:

The financial statements of Ashcombe Training and Activities Limited (registered number: 03081219) were approved and authorised for issue by the Board of Directors on 20 May 2025. They were signed on its behalf by:

Mr R M Rayner
Director
ASHCOMBE TRAINING AND ACTIVITIES LIMITED

NOTES TO THE FINANCIAL STATEMENTS

For the financial year ended 30 September 2024
ASHCOMBE TRAINING AND ACTIVITIES LIMITED

NOTES TO THE FINANCIAL STATEMENTS

For the financial year ended 30 September 2024
1. Accounting policies

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.

General information and basis of accounting

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 £.

Going concern

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.

Turnover

Turnover comprises the fair value of the consideration received or receivable for the provision of services in the ordinary course of the company's activities. Turnover is shown net of value added tax, returns, rebates and discounts and after eliminating sales within the company.

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.

Taxation

Current tax
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.

Tangible fixed assets

Tangible fixed assets are stated at cost or valuation, net of depreciation and any provision for impairment. Depreciation is provided on all tangible fixed assets, other than investment property and freehold land, at rates calculated to write off the cost or valuation, less estimated residual value, of each asset on a straight-line/reducing balance basis over its expected useful life, as follows:

Woodlands are valued at cost less impairments. Woodland is reviewed annually for impairment.

Land and buildings not depreciated
Leasehold improvements 19 years straight line
Plant and machinery 25 % reducing balance
Vehicles 25 % reducing balance
Fixtures and fittings 15 % reducing balance
Office equipment 3 years straight line

Residual value represents the estimated amount which would currently be obtained from disposal of an asset, after deducting estimated costs of disposal, if the asset were already of the age and in the condition expected at the end of its useful life.

Leases

The Company as lessee
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.

2. Employees

2024 2023
Number Number
Monthly average number of persons employed by the Company during the year, including directors 13 12

3. Tangible assets

Land and buildings Leasehold improve-
ments
Plant and machinery Vehicles Fixtures and fittings Office equipment Total
£ £ £ £ £ £ £
Cost
At 01 October 2023 592,887 584,760 36,358 50,628 1,197 5,340 1,271,170
Additions 95,000 8,458 984 21,282 1,098 1,089 127,911
Disposals 0 0 ( 9,442) ( 19,886) 0 0 ( 29,328)
0 0 0 0 0 0 0
At 30 September 2024 687,887 593,218 27,900 52,024 2,295 6,429 1,369,753
Accumulated depreciation
At 01 October 2023 0 353,668 17,423 29,784 667 4,256 405,798
Charge for the financial year 0 24,115 3,655 7,737 245 916 36,668
Disposals 0 0 ( 4,131) ( 8,701) 0 0 ( 12,832)
At 30 September 2024 0 377,783 16,947 28,820 912 5,172 429,634
Net book value
At 30 September 2024 687,887 215,435 10,953 23,204 1,383 1,257 940,119
At 30 September 2023 592,887 231,092 18,935 20,844 530 1,084 865,372

4. Debtors

2024 2023
£ £
Trade debtors 49,676 37,088
Amounts owed by related parties 0 99,828
Other debtors 258,899 223,881
308,575 360,797

5. Creditors: amounts falling due within one year

2024 2023
£ £
Bank loans and overdrafts 46,154 234,179
Trade creditors 19,405 0
Amounts owed to related parties 518,908 134,741
Amounts owed to directors 31,474 164,025
Accruals and deferred income 64,998 66,247
Taxation and social security 18,907 16,985
Obligations under finance leases and hire purchase contracts 5,704 6,465
Other creditors 2,585 250
708,135 622,892

6. Creditors: amounts falling due after more than one year

2024 2023
£ £
Bank loans 512,527 556,401
Obligations under finance leases and hire purchase contracts 2,608 278
515,135 556,679

The bank loans and overdrafts are secured against assets owned by the directors and company.

7. Called-up share capital

2024 2023
£ £
Allotted, called-up and fully-paid
200,000 ordinary shares of £ 1.00 each 200,000 200,000

8. Related party transactions

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.