Caseware UK (AP4) 2024.0.164 2024.0.164 2024-09-302024-09-30falsefalsetrue2023-04-01The provision of residential sales, lettings, commercial and rural property services.65The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.false 10170214 2023-04-01 2024-09-30 10170214 2022-04-01 2023-03-31 10170214 2024-09-30 10170214 2023-03-31 10170214 c:Director2 2023-04-01 2024-09-30 10170214 d:Goodwill 2023-04-01 2024-09-30 10170214 d:Goodwill 2024-09-30 10170214 d:Goodwill 2023-03-31 10170214 d:CurrentFinancialInstruments 2024-09-30 10170214 d:CurrentFinancialInstruments 2023-03-31 10170214 d:Non-currentFinancialInstruments 2024-09-30 10170214 d:Non-currentFinancialInstruments 2023-03-31 10170214 d:CurrentFinancialInstruments d:WithinOneYear 2024-09-30 10170214 d:CurrentFinancialInstruments d:WithinOneYear 2023-03-31 10170214 d:Non-currentFinancialInstruments d:AfterOneYear 2024-09-30 10170214 d:Non-currentFinancialInstruments d:AfterOneYear 2023-03-31 10170214 d:ShareCapital 2024-09-30 10170214 d:ShareCapital 2023-03-31 10170214 d:RetainedEarningsAccumulatedLosses 2024-09-30 10170214 d:RetainedEarningsAccumulatedLosses 2023-03-31 10170214 c:FRS102 2023-04-01 2024-09-30 10170214 c:AuditExempt-NoAccountantsReport 2023-04-01 2024-09-30 10170214 c:FullAccounts 2023-04-01 2024-09-30 10170214 c:PrivateLimitedCompanyLtd 2023-04-01 2024-09-30 10170214 2 2023-04-01 2024-09-30 10170214 d:Goodwill d:OwnedIntangibleAssets 2023-04-01 2024-09-30 10170214 e:PoundSterling 2023-04-01 2024-09-30 iso4217:GBP xbrli:pure

Registered number: 10170214










ASHBY LETTINGS LIMITED








UNAUDITED

FINANCIAL STATEMENTS

INFORMATION FOR FILING WITH THE REGISTRAR

FOR THE PERIOD ENDED 30 SEPTEMBER 2024

 
ASHBY LETTINGS LIMITED
REGISTERED NUMBER: 10170214

BALANCE SHEET
AS AT 30 SEPTEMBER 2024

Period ended 30 September
31 March
2024
2023
Note
£
£

Fixed assets
  

Intangible assets
 4 
-
78,000

  
-
78,000

Current assets
  

Debtors: amounts falling due within one year
 5 
5,696
542

Cash at bank and in hand
  
-
18,068

  
5,696
18,610

Creditors: amounts falling due within one year
 6 
(7,795)
(28,270)

Net current liabilities
  
 
 
(2,099)
 
 
(9,660)

Total assets less current liabilities
  
(2,099)
68,340

Creditors: amounts falling due after more than one year
 7 
-
(8)

  

Net (liabilities)/assets
  
(2,099)
68,332


Capital and reserves
  

Called up share capital 
  
100
100

Profit and loss account
  
(2,199)
68,232

  
(2,099)
68,332


Page 1

 
ASHBY LETTINGS LIMITED
REGISTERED NUMBER: 10170214
    
BALANCE SHEET (CONTINUED)
AS AT 30 SEPTEMBER 2024

The directors consider that the Company is entitled to exemption from audit under section 477 of the Companies Act 2006 and members have not required the Company to obtain an audit for the period in question in accordance with section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.

The Company's financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies regime.

The financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime.

The Company has opted not to file the profit and loss account in accordance with provisions applicable to companies subject to the small companies' regime.

The financial statements were approved and authorised for issue by the board and were signed on its behalf by: 




................................................
Robert Eyton-Jones
Director

Date: 23 June 2025

The notes on pages 3 to 9 form part of these financial statements.

Page 2

 
ASHBY LETTINGS LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 30 SEPTEMBER 2024

1.


General information

General information
Ashby Lettings Limited is a private company, limited by shares, registered in England and Wales, registration number 10170214. The registered office is 58 Market Street, Ashby-De-La-Zouch, Leicestershire, England, LE65 1AN.
Principal activity
The Company was previously engaged in the provision of residential sales, lettings, commercial and rural property services. In the year, all trading assets were transferred to Howkins & Harrison LLP, following which the Company became dormant.

2.Accounting policies

 
2.1

Basis of preparation of financial statements

The financial statements have been prepared under the historical cost convention unless otherwise specified within these accounting policies and in accordance with Financial Reporting Standard 102, the Financial Reporting Standard applicable in the UK and the Republic of Ireland and the Companies Act 2006.
The current period figures are for 18 months, whereas the comparative figures are for 12 months due to the Company extending their accounting period from 31st March 2024 to 30th September 2024.
Transition to FRS 102
For the year ended 30 September 2024, the Company has changed its accounting framework from FRS 105 to FRS 102 Section 1A.
This change has not affected the current or previously reported financial position or performance.
 

The Company’s functional and presentational currency is British Pounds Sterling (£).
The following principal accounting policies have been applied:

 
2.2

Going concern

The financial statements have been prepared on a going concern basis. The validity of this assumption depends upon the continued support of the directors, who have confirmed their willingness to support the financial requirements of the business for the foreseeable future. The financial statements therefore do not include any adjustments, which would be necessary if the required financial support were to be discontinued and the Company ceased to be a going concern.

Page 3

 
ASHBY LETTINGS LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 30 SEPTEMBER 2024

2.Accounting policies (continued)

 
2.3

Revenue

Revenue is recognised to the extent that it is probable that the economic benefits will flow to the Company and the revenue can be reliably measured. Revenue is measured as the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. The following criteria must also be met before revenue is recognised:

Rendering of services

Revenue from a contract to provide services is recognised in the period in which the services are provided in accordance with the stage of completion of the contract when all of the following conditions are satisfied:
the amount of revenue can be measured reliably;
it is probable that the Company will receive the consideration due under the contract;
the stage of completion of the contract at the end of the reporting period can be measured reliably; and
the costs incurred and the costs to complete the contract can be measured reliably.

 
2.4

Operating leases: the Company as lessee

Rentals paid under operating leases are charged to profit or loss on a straight-line basis over the lease term.

Benefits received and receivable as an incentive to sign an operating lease are recognised on a straight-line basis over the lease term, unless another systematic basis is representative of the time pattern of the lessee's benefit from the use of the leased asset.

 
2.5

Interest income

Interest income is recognised in profit or loss using the effective interest method.

 
2.6

Finance costs

Finance costs are charged to profit or loss over the term of the debt using the effective interest method so that the amount charged is at a constant rate on the carrying amount. Issue costs are initially recognised as a reduction in the proceeds of the associated capital instrument.

 
2.7

Pensions

Defined contribution pension plan

The Company operates a defined contribution plan for its employees. A defined contribution plan is a pension plan under which the Company pays fixed contributions into a separate entity. Once the contributions have been paid the Company has no further payment obligations.

The contributions are recognised as an expense in profit or loss when they fall due. Amounts not paid are shown in accruals as a liability in the Balance Sheet. The assets of the plan are held separately from the Company in independently administered funds.

Page 4

 
ASHBY LETTINGS LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 30 SEPTEMBER 2024

2.Accounting policies (continued)

 
2.8

Taxation

Tax is recognised in profit or loss except that a charge attributable to an item of income and expense recognised as other comprehensive income or to an item recognised directly in equity is also recognised in other comprehensive income or directly in equity respectively.

The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the balance sheet date in the countries where the Company operates and generates income.

 
2.9

Intangible assets

Goodwill

Goodwill represents the difference between amounts paid on the cost of a business combination and the acquirer’s interest in the fair value of its identifiable assets and liabilities of the acquiree at the date of acquisition. Subsequent to initial recognition, goodwill is measured at cost less accumulated amortisation and accumulated impairment losses. Goodwill is amortised on a straight-line basis to the Profit and Loss Account over its useful economic life.

Other intangible assets

Intangible assets are initially recognised at cost. After recognition, under the cost model, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses.

All intangible assets are considered to have a finite useful life. If a reliable estimate of the useful life cannot be made, the useful life shall not exceed ten years.

 
2.10

Impairment of fixed assets and goodwill

Assets that are subject to depreciation or amortisation are assessed at each balance sheet date to determine whether there is any indication that the assets are impaired. Where there is any indication that an asset may be impaired, the carrying value of the asset (or cash-generating unit to which the asset has been allocated) is tested for impairment. An impairment loss is recognised for the amount by which the asset's carrying amount exceeds its recoverable amount. The recoverable amount is the higher of an asset's (or CGU's) fair value less costs to sell and value in use. For the purposes of assessing impairment, assets are grouped at the lowest levels for which there are separately identifiable cash flows (CGUs). Non-financial assets that have been previously impaired are reviewed at each balance sheet date to assess whether there is any indication that the impairment losses recognised in prior periods may no longer exist or may have decreased.

 
2.11

Debtors

Short-term debtors are measured at transaction price, less any impairment. Loans receivable are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method, less any impairment.

Page 5

 
ASHBY LETTINGS LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 30 SEPTEMBER 2024

2.Accounting policies (continued)

 
2.12

Cash and cash equivalents

Cash is represented by cash in hand and deposits with financial institutions repayable without penalty on notice. Cash equivalents are highly liquid investments that mature in no more than three months from the date of acquisition and that are readily convertible to known amounts of cash with insignificant risk of change in value.

 
2.13

Creditors

Short-term creditors are measured at the transaction price. Other financial liabilities, including bank loans, are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method.

 
2.14

Financial instruments

The Company only enters into basic financial instrument transactions that result in the recognition of financial assets and liabilities like trade and other debtors and creditors, loans from banks and other third parties, loans to related parties and investments in ordinary shares.
Debt instruments (other than those wholly repayable or receivable within one year), including loans and other accounts receivable and payable, are initially measured at transaction price, net of transaction costs, and subsequently at amortised cost using the effective interest method. Debt instruments that are payable or receivable within one year, typically trade debtors and creditors, are measured, initially and subsequently, at the undiscounted amount of the cash or other consideration expected to be paid or received. However, if the arrangements of a short-term instrument constitute a financing transaction, like the payment of a trade debt deferred beyond normal business terms or in case of an out-right short-term loan that is not at market rate, the financial asset or liability is measured, initially at the present value of future cash flows discounted at a market rate of interest for a similar debt instrument and subsequently at amortised cost, unless it qualifies as a loan from a director in the case of a small company, or a public benefit entity concessionary loan.
Financial assets that are measured at cost and amortised cost are assessed at the end of each reporting period for objective evidence of impairment. If objective evidence of impairment is found, an impairment loss is recognised in the Profit and Loss Account.
For financial assets measured at amortised cost, the impairment loss is measured as the difference between an asset's carrying amount and the present value of estimated cash flows discounted at the asset's original effective interest rate. If a financial asset has a variable interest rate, the discount rate for measuring any impairment loss is the current effective interest rate determined under the contract.
For financial assets measured at cost less impairment, the impairment loss is measured as the difference between an asset's carrying amount and best estimate of the recoverable amount, which is an approximation of the amount that the Company would receive for the asset if it were to be sold at the balance sheet date.
Financial assets and liabilities are offset and the net amount reported in the Balance Sheet when there is an enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously.
 
Page 6

 
ASHBY LETTINGS LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 30 SEPTEMBER 2024

2.Accounting policies (continued)

 
2.15

Dividends

Equity dividends are recognised when they become legally payable. Interim equity dividends are recognised when paid. Final equity dividends are recognised when approved by the shareholders at an annual general meeting.


3.


Employees

The average monthly number of employees, including directors, during the period was 5 (2023 - 6). 


4.


Intangible assets






Goodwill

£



Cost


At 1 April 2023
120,000



At 30 September 2024

120,000



Amortisation


At 1 April 2023
42,000


Charge for the period
1,500


Impairment charge
76,500



At 30 September 2024

120,000



Net book value



At 30 September 2024
-



At 31 March 2023
78,000






 

Page 7

 
ASHBY LETTINGS LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 30 SEPTEMBER 2024

5.


Debtors

Period ended 30 September
31 March
2024
2023
£
£


Amounts owed by group undertakings
5,518
-

Other debtors
178
542

5,696
542



6.


Creditors: Amounts falling due within one year

Period ended 30 September
31 March
2024
2023
£
£

Trade creditors
1,070
-

Corporation tax
3,975
-

Other taxation and social security
-
4,449

Other creditors
-
19,714

Accruals and deferred income
2,750
4,107

7,795
28,270



7.


Creditors: Amounts falling due after more than one year

Period ended 30 September
31 March
2024
2023
£
£

Other creditors
-
8

-
8



8.


Comparative information

The current period figures are for 18 months, whereas the comparative figures are for 12 months due to the Company extending their accounting period from 31st March 2024 to 30th September 2024.

Page 8

 
ASHBY LETTINGS LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 30 SEPTEMBER 2024

9.


Related party

On 1st June 2023, the entire issued share capital of the Company was purchased by Howkins & Harrison LLP, resulting in the Company becoming a wholly owned subsidiary.

As part of the acquisition, the Company’s trade and assets were transferred to Howkins & Harrison LLP, who now hold and manage these assets directly. The goodwill previously recognised on the Company's balance sheet, with a carrying value of £76,500, was thereby fully impaired during the year.

The transfer reflects a strategic decision to consolidate operations under the parent entity.






 
Page 9