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Registration number: 12158595

Ash Lane Developments Limited

Annual Report and Unaudited Financial Statements

for the Year Ended 31 August 2024

 

Ash Lane Developments Limited

Contents

Company Information

1

Directors' Report

2

Accountants' Report

3

Profit and Loss Account

4

Statement of Comprehensive Income

5

Balance Sheet

6 to 7

Statement of Changes in Equity

8

Notes to the Unaudited Financial Statements

9 to 13

 

Ash Lane Developments Limited

Company Information

Directors

Paul Edward Allaway

Harry Allaway

Joanne Margaret Allaway

Liberty Florence Allaway

Registered office

Unit 1 Limber Road
Lufton Trading Estate
Yeovil
Somerset
BA22 8RR

Accountants

Whites
Chartered Accountants
Suite9 Yeovil Innovation Centre
Copse Road
Yeovil
Somerset
BA22 8RN

 

Ash Lane Developments Limited

Directors' Report for the Year Ended 31 August 2024

The directors present their report and the financial statements for the year ended 31 August 2024.

Directors of the company

The directors who held office during the year were as follows:

Paul Edward Allaway

Harry Allaway

Joanne Margaret Allaway

Liberty Florence Allaway

Principal activity

The principal activity of the company is the development of building projects

Small companies provision statement

This report has been prepared in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006.

Approved by the Board on 29 May 2025 and signed on its behalf by:

.........................................
Paul Edward Allaway
Director

   
     
 

Chartered Accountants' Report to the Board of Directors on the Preparation of the Unaudited Statutory Accounts of
Ash Lane Developments Limited
for the Year Ended 31 August 2024

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the accounts of Ash Lane Developments Limited for the year ended 31 August 2024 as set out on pages 4 to 13 from the company's accounting records and from information and explanations you have given us.

As a practising member firm of the Institute of Chartered Accountants in England and Wales (ICAEW), we are subject to its ethical and other professional requirements which are detailed at
http://www.icaew.com/regulation.

This report is made solely to the Board of Directors of Ash Lane Developments Limited, as a body, in accordance with the terms of our engagement letter dated 12 December 2023. Our work has been undertaken solely to prepare for your approval the accounts of Ash Lane Developments Limited and state those matters that we have agreed to state to the Board of Directors of Ash Lane Developments Limited, as a body, in this report in accordance with ICAEW Technical Release 07/16 AAF. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than Ash Lane Developments Limited and its Board of Directors as a body for our work or for this report.

It is your duty to ensure that Ash Lane Developments Limited has kept adequate accounting records and to prepare statutory accounts that give a true and fair view of the assets, liabilities, financial position and loss of Ash Lane Developments Limited. You consider that Ash Lane Developments Limited is exempt from the statutory audit requirement for the year.

We have not been instructed to carry out an audit or a review of the accounts of Ash Lane Developments Limited. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory accounts.

......................................

Whites
Chartered Accountants
Suite9 Yeovil Innovation Centre
Copse Road
Yeovil
Somerset
BA22 8RN

29 May 2025

 

Ash Lane Developments Limited

Profit and Loss Account for the Year Ended 31 August 2024

Note

2024
£

2023
£

Turnover

 

80,322

639,211

Cost of sales

 

(2,208)

(763,360)

Gross profit/(loss)

 

78,114

(124,149)

Administrative expenses

 

(42,297)

(5,209)

Operating profit/(loss)

 

35,817

(129,358)

Interest payable and similar expenses

 

(40,452)

(32,627)

Loss before tax

4

(4,635)

(161,985)

Tax on loss

 

(814)

15,341

Loss for the financial year

 

(5,449)

(146,644)

The above results were derived from continuing operations.

The company has no recognised gains or losses for the year other than the results above.

 

Ash Lane Developments Limited

Statement of Comprehensive Income for the Year Ended 31 August 2024

2024
£

2023
£

Loss for the year

(5,449)

(146,644)

Total comprehensive income for the year

(5,449)

(146,644)

 

Ash Lane Developments Limited

(Registration number: 12158595)
Balance Sheet as at 31 August 2024

Note

2024
£

2023
£

Fixed assets

 

Tangible assets

5

39,387

35,103

Investment property

6

464,196

-

 

503,583

35,103

Current assets

 

Stocks

7

571,591

984,246

Debtors

8

4,919

16,377

Cash at bank and in hand

 

12,470

106,282

 

588,980

1,106,905

Creditors: Amounts falling due within one year

9

(200,530)

(224,294)

Net current assets

 

388,450

882,611

Total assets less current liabilities

 

892,033

917,714

Creditors: Amounts falling due after more than one year

9

(475,747)

(496,793)

Provisions for liabilities

(7,484)

(6,670)

Net assets

 

408,802

414,251

Capital and reserves

 

Called up share capital

10

100

100

Retained earnings

408,702

414,151

Shareholders' funds

 

408,802

414,251

For the financial 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 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.

These financial statements have been prepared in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006.

Approved and authorised by the Board on 29 May 2025 and signed on its behalf by:
 

 

Ash Lane Developments Limited

(Registration number: 12158595)
Balance Sheet as at 31 August 2024

.........................................
Paul Edward Allaway
Director

   
     
 

Ash Lane Developments Limited

Statement of Changes in Equity for the Year Ended 31 August 2024

Share capital
£

Retained earnings
£

Total
£

At 1 September 2023

100

414,151

414,251

Loss for the year

-

(5,449)

(5,449)

At 31 August 2024

100

408,702

408,802

Share capital
£

Retained earnings
£

Total
£

At 1 September 2022

100

560,795

560,895

Loss for the year

-

(146,644)

(146,644)

At 31 August 2023

100

414,151

414,251

 

Ash Lane Developments Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 August 2024

1

General information

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

The address of its registered office is:
Unit 1 Limber Road
Lufton Trading Estate
Yeovil
Somerset
BA22 8RR
England

These financial statements were authorised for issue by the Board on 29 May 2025.

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

The financial statements have been prepared under the historical cost convention and in accordance with FRS 105 'The Financial Reporting Standard applicable to the Micro-entities 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.

Going concern

The financial statements have been prepared on a going concern basis.

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.

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.

 

Ash Lane Developments Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 August 2024

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:

Investment property

Investment property is carried at fair value, derived from the current market prices for comparable real estate determined annually by external valuers. The valuers use observable market prices, adjusted if necessary for any difference in the nature, location or condition of the specific asset. Changes in fair value are recognised in profit or loss.

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.

Trade 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

Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell. Cost is determined using the first-in, first-out (FIFO) method.

The cost of finished goods and work in progress comprises direct materials and, where applicable, direct labour costs and those overheads that have been incurred in bringing the inventories to their present location and condition. At each reporting date, stocks are assessed for impairment. If stocks are impaired, the carrying amount is reduced to its selling price less costs to complete and sell; the impairment loss is recognised immediately in profit or loss.

 

Ash Lane Developments Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 August 2024

Trade 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.

3

Staff numbers

The average number of persons employed by the company (including directors) during the year, was 4 (2023 - 4).

4

Loss before tax

Arrived at after charging/(crediting)

2024
£

2023
£

Depreciation expense

10,645

8,009

 

Ash Lane Developments Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 August 2024

5

Tangible assets

Furniture, fittings and equipment
 £

Motor vehicles
 £

Total
£

Cost or valuation

At 1 September 2023

43,916

25,950

69,866

Additions

10,329

4,600

14,929

At 31 August 2024

54,245

30,550

84,795

Depreciation

At 1 September 2023

17,024

17,739

34,763

Charge for the year

7,443

3,202

10,645

At 31 August 2024

24,467

20,941

45,408

Carrying amount

At 31 August 2024

29,778

9,609

39,387

At 31 August 2023

26,892

8,211

35,103

6

Investment properties

2024
£

Additions

464,196

At 31 August

464,196

There has been no valuation of investment property by an independent valuer.

7

Stocks

2024
£

2023
£

Work in progress

571,591

984,246

8

Debtors

Current

2024
£

2023
£

Trade debtors

-

6,720

Prepayments

1,410

-

Other debtors

3,509

9,657

 

4,919

16,377

 

Ash Lane Developments Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 August 2024

9

Creditors

Creditors: amounts falling due within one year

Note

2024
£

2023
£

Due within one year

 

Loans and borrowings

11

21,462

21,462

Trade creditors

 

6,138

4,309

Other creditors

 

172,930

198,523

 

200,530

224,294

Creditors: amounts falling due after more than one year

Note

2024
£

2023
£

Due after one year

 

Loans and borrowings

11

475,747

496,793

10

Share capital

Allotted, called up and fully paid shares

2024

2023

No.

£

No.

£

Ordinary of £1 each

100

100

100

100

       

11

Loans and borrowings

Non-current loans and borrowings

2024
£

2023
£

Bank borrowings

475,747

496,793

Current loans and borrowings

2024
£

2023
£

Bank borrowings

21,462

21,462