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REGISTERED NUMBER: 05324015 (England and Wales)





















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: G Scott
M G Scott





SECRETARY: M G Scott





REGISTERED OFFICE: D7c Fairoaks Airport
Chobham Road
Chobham
Surrey
GU24 8HU





REGISTERED NUMBER: 05324015 (England and Wales)





ACCOUNTANTS: John A Hyde & Co
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 56,004 41,962

CURRENT ASSETS
Stocks 5 5,501,892 4,199,973
Debtors 6 2,667,921 2,514,616
Cash at bank 99,984 2,298,268
8,269,797 9,012,857
CREDITORS
Amounts falling due within one year 7 7,859,397 8,819,715
NET CURRENT ASSETS 410,400 193,142
TOTAL ASSETS LESS CURRENT
LIABILITIES

466,404

235,104

CAPITAL AND RESERVES
Called up share capital 2 2
Retained earnings 466,402 235,102
SHAREHOLDERS' FUNDS 466,404 235,104

ASHLEY HOMES LIMITED (REGISTERED NUMBER: 05324015)

BALANCE SHEET - continued
30 SEPTEMBER 2024


The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30 September 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 30 September 2024 in accordance with Section 476 of the Companies Act 2006.

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 have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 24 April 2025 and were signed on its behalf by:




M G Scott - Director



G Scott - Director


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 private company, limited by shares , registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.

2. ACCOUNTING POLICIES

Basis of preparing the financial statements
These financial statements have been prepared in accordance with Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" including the provisions of Section 1A "Small Entities" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.

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
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Freehold property - not provided
Plant and machinery - 25% on reducing balance
Fixtures and fittings - 15% on reducing balance
Computer equipment - 33% on cost

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 2 (2023 - 3 ) .

4. TANGIBLE FIXED ASSETS
Fixtures
Freehold Plant and and
property machinery fittings
£    £    £   
COST
At 1 October 2023 8,000 87,922 4,803
Additions - 30,078 -
At 30 September 2024 8,000 118,000 4,803
DEPRECIATION
At 1 October 2023 - 87,157 4,674
Charge for year - 7,711 32
At 30 September 2024 - 94,868 4,706
NET BOOK VALUE
At 30 September 2024 8,000 23,132 97
At 30 September 2023 8,000 765 129

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 56,748 2,536 160,009
Additions - - 30,078
At 30 September 2024 56,748 2,536 190,087
DEPRECIATION
At 1 October 2023 24,048 2,168 118,047
Charge for year 8,170 123 16,036
At 30 September 2024 32,218 2,291 134,083
NET BOOK VALUE
At 30 September 2024 24,530 245 56,004
At 30 September 2023 32,700 368 41,962

5. STOCKS
30.9.24 30.9.23
£    £   
Construction stock and work in progress 5,501,892 4,199,973

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 811 17,554
Other debtors 2,651,918 2,486,499
VAT 15,192 10,563
2,667,921 2,514,616

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
30.9.24 30.9.23
£    £   
Mortgages 591,895 602,222
Other loans 2,000,102 1,998,283
Trade creditors 53,470 90,521
Tax 75,288 20,149
Social security and other taxes 4,354 3,476
Pension 200 182
Other creditors 121,688 221,688
Directors' current accounts 5,012,400 5,826,439
Accrued expenses - 56,755
7,859,397 8,819,715

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 591,895 602,222

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.