| REGISTERED NUMBER: |
| UNAUDITED FINANCIAL STATEMENTS |
| FOR THE YEAR ENDED 30 SEPTEMBER 2024 |
| FOR |
| ASHLEY HOMES LIMITED |
| REGISTERED NUMBER: |
| UNAUDITED FINANCIAL STATEMENTS |
| FOR THE YEAR ENDED 30 SEPTEMBER 2024 |
| FOR |
| ASHLEY HOMES LIMITED |
| ASHLEY HOMES LIMITED (REGISTERED NUMBER: 05324015) |
| CONTENTS OF THE FINANCIAL STATEMENTS |
| FOR THE YEAR ENDED 30 SEPTEMBER 2024 |
| Page |
| Company Information | 1 |
| Balance Sheet | 2 |
| Notes to the Financial Statements | 4 |
| ASHLEY HOMES LIMITED |
| COMPANY INFORMATION |
| FOR THE YEAR ENDED 30 SEPTEMBER 2024 |
| DIRECTORS: |
| SECRETARY: |
| REGISTERED OFFICE: |
| REGISTERED NUMBER: |
| ACCOUNTANTS: |
| Lyndale House |
| 24A High Street |
| Addlestone |
| Surrey |
| KT15 1TN |
| ASHLEY HOMES LIMITED (REGISTERED NUMBER: 05324015) |
| BALANCE SHEET |
| 30 SEPTEMBER 2024 |
| 30.9.24 | 30.9.23 |
| Notes | £ | £ | £ |
| FIXED ASSETS |
| Tangible assets | 4 |
| CURRENT ASSETS |
| Stocks | 5 |
| Debtors | 6 |
| Cash at bank |
| CREDITORS |
| Amounts falling due within one year | 7 |
| NET CURRENT ASSETS |
| TOTAL ASSETS LESS CURRENT LIABILITIES |
| CAPITAL AND RESERVES |
| Called up share capital |
| Retained earnings |
| SHAREHOLDERS' FUNDS |
| ASHLEY HOMES LIMITED (REGISTERED NUMBER: 05324015) |
| BALANCE SHEET - continued |
| 30 SEPTEMBER 2024 |
| The directors acknowledge their responsibilities for: |
| (a) | ensuring that the company keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006 and |
| (b) | preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of each financial year and of its profit or loss for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the company. |
| The financial statements were approved by the Board of Directors and authorised for issue on |
| ASHLEY HOMES LIMITED (REGISTERED NUMBER: 05324015) |
| NOTES TO THE FINANCIAL STATEMENTS |
| FOR THE YEAR ENDED 30 SEPTEMBER 2024 |
| 1. | STATUTORY INFORMATION |
| Ashley Homes Limited is a |
| 2. | ACCOUNTING POLICIES |
| Basis of preparing the financial statements |
| Turnover/revenue recognition |
| For property disposals, the turnover and profit is recognised on completion of sale of properties to third parties. |
| For construction contracts, turnover is recognised on the issue of a sales invoice, excluding discounts, value added tax and other sales taxes, after agreed stages of completion. |
| Net rental income (after letting charges and expenses) arising on company owned property for resale, in construction stock and work in progress, is recognised on receipt under short term tenancy agreements. |
| Tangible fixed assets |
| Freehold property | - |
| Plant and machinery | - |
| Fixtures and fittings | - |
| Computer equipment | - |
| Construction stock and work in progress |
| Owned property stock and work in progress is stated at the lower of cost and net realisable value. Cost comprises direct materials and, where applicable, direct labour costs, land acquisition costs, borrowing costs on relevant owned properties and overheads directly attributable to owned properties. Net realisable value represents the estimated selling price less all estimated costs of completion of sale and costs to be incurred in marketing and selling . |
| Construction contract stock and work in progress is stated at the lower of cost and net realisable value. Cost comprises direct materials and, where applicable, direct labour costs, land acquisition costs, borrowing costs and overheads directly attributable to properties under construction contract. Net realisable value represents the agreed contract price less all estimated costs of completion of contract and all subsequent rectification work. |
| Taxation |
| Taxation for the year comprises current and deferred tax. Tax is recognised in the Income Statement, except to the extent that it relates to items recognised in other comprehensive income or directly in equity. |
| Current or deferred taxation assets and liabilities are not discounted. |
| Current tax is recognised at the amount of tax payable using the tax rates and laws that have been enacted or substantively enacted by the balance sheet date. |
| ASHLEY HOMES LIMITED (REGISTERED NUMBER: 05324015) |
| NOTES TO THE FINANCIAL STATEMENTS - continued |
| FOR THE YEAR ENDED 30 SEPTEMBER 2024 |
| 2. | ACCOUNTING POLICIES - continued |
| Deferred tax |
| Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date. |
| Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from those in which they are recognised in financial statements. Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the year end and that are expected to apply to the reversal of the timing difference. |
| Unrelieved tax losses and other deferred tax assets are recognised only to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits. |
| Hire purchase and leasing commitments |
| Assets obtained under hire purchase contracts and finance leases are capitalised as tangible fixed assets. Assets acquired under finance leases are depreciated over the shorter of the lease term and their useful lives. Assets acquired under hire purchase contracts are depreciated over their useful lives. Finance leases are those where substantially all of the benefits and risk of ownership are assumed by the company. Obligations under such agreements are included in creditors net of the finance charge allocated to future periods. The finance element of the rental payment is charged to the profit and loss account so as to produce a constant periodic rate of charge on the net obligation outstanding in each period. |
| Rentals applicable to operating leases where substantially all of the benefits and risk of ownership remain with the lessor are charged to the profit and loss account as incurred. |
| Pension costs and other post-retirement benefits |
| The company operates a defined contribution pension scheme for directors. The assets of the scheme are held separately from those of the company in an independently administered fund. Contributions payable for the year are charged in the profit and loss account. |
| 3. | EMPLOYEES AND DIRECTORS |
| The average number of employees during the year was |
| 4. | TANGIBLE FIXED ASSETS |
| Fixtures |
| Freehold | Plant and | and |
| property | machinery | fittings |
| £ | £ | £ |
| COST |
| At 1 October 2023 |
| Additions |
| At 30 September 2024 |
| DEPRECIATION |
| At 1 October 2023 |
| Charge for year |
| At 30 September 2024 |
| NET BOOK VALUE |
| At 30 September 2024 |
| At 30 September 2023 |
| ASHLEY HOMES LIMITED (REGISTERED NUMBER: 05324015) |
| NOTES TO THE FINANCIAL STATEMENTS - continued |
| FOR THE YEAR ENDED 30 SEPTEMBER 2024 |
| 4. | TANGIBLE FIXED ASSETS - continued |
| Motor | Computer |
| vehicles | equipment | Totals |
| £ | £ | £ |
| COST |
| At 1 October 2023 |
| Additions |
| At 30 September 2024 |
| DEPRECIATION |
| At 1 October 2023 |
| Charge for year |
| At 30 September 2024 |
| NET BOOK VALUE |
| At 30 September 2024 |
| At 30 September 2023 |
| 5. | STOCKS |
| 30.9.24 | 30.9.23 |
| £ | £ |
| Construction stock and work in progress |
| Construction stock and work in progress comprises of owned land acquired for development work and resale. |
| Construction stock and work in progress also includes works carried out for third parties under agreed construction contracts. |
| 6. | DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
| 30.9.24 | 30.9.23 |
| £ | £ |
| Trade debtors |
| Other debtors |
| VAT |
| 7. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
| 30.9.24 | 30.9.23 |
| £ | £ |
| Mortgages |
| Other loans | 2,000,102 | 1,998,283 |
| Trade creditors |
| Tax |
| Social security and other taxes |
| Pension | 200 | 182 |
| Other creditors |
| Directors' current accounts | 5,012,400 | 5,826,439 |
| Accrued expenses |
| ASHLEY HOMES LIMITED (REGISTERED NUMBER: 05324015) |
| NOTES TO THE FINANCIAL STATEMENTS - continued |
| FOR THE YEAR ENDED 30 SEPTEMBER 2024 |
| 7. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR - continued |
| The bank mortgages are secured on the properties to which they relate and are repayable on disposal of the properties in construction stock and work in progress. |
| 8. | SECURED DEBTS |
| The following secured debts are included within creditors: |
| 30.9.24 | 30.9.23 |
| £ | £ |
| Mortgages |
| The mortgages are secured on the company's construction stock and work in progress. |
| 9. | DIRECTORS' ADVANCES, CREDITS AND GUARANTEES |
| During the year the company had a director's loan with M Scott. The loan is interest free and repayable on demand. |