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REGISTERED NUMBER: 02089540 (England and Wales)















ASHLEA COMPONENTS LIMITED

UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED

31ST DECEMBER 2024






ASHLEA COMPONENTS LIMITED (REGISTERED NUMBER: 02089540)

CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31ST DECEMBER 2024










Page

Company Information 1

Statement of Financial Position 2

Notes to the Financial Statements 3 to 6


ASHLEA COMPONENTS LIMITED

COMPANY INFORMATION
FOR THE YEAR ENDED 31ST DECEMBER 2024







DIRECTOR: Mr S J Higgs



REGISTERED OFFICE: Unit 24A Shrivenham Hundred Bus Park
Watchfield
SWINDON
Wiltshire
SN6 8TZ



REGISTERED NUMBER: 02089540 (England and Wales)



ACCOUNTANTS: Morris Owen
Chartered Accountants
43-45 Devizes Road
SWINDON
Wiltshire
SN1 4BG



BANKERS: Lloyds Bank Plc
5 High Street
Old Town
SWINDON
Wiltshire
SN1 3ED

ASHLEA COMPONENTS LIMITED (REGISTERED NUMBER: 02089540)

STATEMENT OF FINANCIAL POSITION
31ST DECEMBER 2024

2024 2023
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 10,762 14,328

CURRENT ASSETS
Stocks 624,208 758,545
Debtors 5 798,783 1,498,526
Cash at bank 585,972 222,727
2,008,963 2,479,798
CREDITORS
Amounts falling due within one year 6 319,028 647,556
NET CURRENT ASSETS 1,689,935 1,832,242
TOTAL ASSETS LESS CURRENT
LIABILITIES

1,700,697

1,846,570

PROVISIONS FOR LIABILITIES 2,691 3,582
NET ASSETS 1,698,006 1,842,988

CAPITAL AND RESERVES
Called up share capital 8 27,210 27,210
Share premium 14,250 14,250
Capital redemption reserve 33,547 33,547
Retained earnings 1,622,999 1,767,981
SHAREHOLDERS' FUNDS 1,698,006 1,842,988

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31st December 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 31st December 2024 in accordance with Section 476 of the Companies Act 2006.

The director acknowledges his 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 Statement of Income and Retained Earnings has not been delivered.

The financial statements were approved by the director and authorised for issue on 22nd May 2025 and were signed by:



Mr S J Higgs - Director


ASHLEA COMPONENTS LIMITED (REGISTERED NUMBER: 02089540)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31ST DECEMBER 2024


1. STATUTORY INFORMATION

Ashlea Components Limited is a private company, limited by shares, registered in England and Wales. The company's registered number and registered office address are as below:

Registered number: 02089540

Registered office: Unit 24A Shrivenham Hundred Business Park, Watchfield, Swindon, Wiltshire, SN6 8TZ

The presentation currency of the financial statements is the Pound Sterling (£) rounded to the nearest pound.

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.

Significant judgements and estimates
In preparing these financial statements, the directors have made the following judgements:

- Determine whether leases entered into by the company as a lessee are operating leases or finance leases. These decisions depend on an assessment of whether the risks and rewards of ownership have been transferred from the lessor to the lessee on a lease by lease basis.

- Determine the period of useful economic life and any residual value of all tangible fixed assets order to write off the value of each asset over that period.

- Determine an appropriate provision for bad and doubtful debts by assessing the recoverability of all balances on a balance by balance basis.

- Determine an appropriate provision for obsolete and slow moving stocks by assessing the net realisable value of all stock lines on a line by line basis.

- Determine an appropriate provision for dilapidations by assessing the probable future obligations expected to exist at the end of the property lease.

Turnover
Turnover from sale of goods is recognised when the significant risks and reward of ownership of the goods have passed to the buyer, usually on dispatch of the goods. Turnover is measured at the fair value of consideration received, excluding discounts, rebates, VAT and other sales taxes or duty.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Long leasehold - Over the term of the lease
Fixtures and fittings - 33% on cost
Computer equipment - 50% on cost and 20% on cost

Stocks
Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.

ASHLEA COMPONENTS LIMITED (REGISTERED NUMBER: 02089540)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31ST DECEMBER 2024


2. ACCOUNTING POLICIES - continued

Financial instruments
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.

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

Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Statement of Income and Retained Earnings, 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 statement of financial position date.

Deferred tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the statement of financial position 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.

Foreign currencies
Assets and liabilities in foreign currencies are translated into sterling at the rates of exchange ruling at the statement of financial position date. Transactions in foreign currencies are translated into sterling at the rate of exchange ruling at the date of transaction. Exchange differences are taken into account in arriving at the profit before tax.

Hire purchase and leasing commitments
Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease.

Pension costs and other post-retirement benefits
The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 13 (2023 - 12 ) .

ASHLEA COMPONENTS LIMITED (REGISTERED NUMBER: 02089540)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31ST DECEMBER 2024


4. TANGIBLE FIXED ASSETS
Plant and
Land and machinery
buildings etc Totals
£    £    £   
COST
At 1st January 2024 6,258 136,929 143,187
Additions - 6,329 6,329
Disposals - (4,721 ) (4,721 )
At 31st December 2024 6,258 138,537 144,795
DEPRECIATION
At 1st January 2024 6,258 122,601 128,859
Charge for year - 9,895 9,895
Eliminated on disposal - (4,721 ) (4,721 )
At 31st December 2024 6,258 127,775 134,033
NET BOOK VALUE
At 31st December 2024 - 10,762 10,762
At 31st December 2023 - 14,328 14,328

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Trade debtors 370,169 486,751
Other debtors 428,614 1,011,775
798,783 1,498,526

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Trade creditors 172,732 117,056
Taxation and social security 124,610 269,803
Other creditors 21,686 260,697
319,028 647,556

7. LEASING AGREEMENTS

Minimum lease payments under non-cancellable operating leases fall due as follows:
2024 2023
£    £   
Within one year 45,018 45,018
Between one and five years 80,750 125,750
125,768 170,768

ASHLEA COMPONENTS LIMITED (REGISTERED NUMBER: 02089540)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31ST DECEMBER 2024


8. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 2024 2023
value: £    £   
13,878 Ordinary A £1 13,878 13,878
13,332 Ordinary B £1 13,332 13,332
27,210 27,210

9. DIRECTOR'S ADVANCES, CREDITS AND GUARANTEES

The following advances and credits to directors subsisted during the years ended 31st December 2024 and 31st December 2023:

2024 2023
£    £   
Mr S J Higgs and Mr S J Higgs
Balance outstanding at start of year - 10,042
Amounts advanced 37,386 33,252
Amounts repaid (34,204 ) (43,294 )
Amounts written off - -
Amounts waived - -
Balance outstanding at end of year 3,182 -

The loan from the prior year was provided interest free with no fixed repayment terms.