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REGISTERED NUMBER: 03670294 (England and Wales)















Financial Statements for the Year Ended 30 November 2024

for

A.S.K. Rewinds Ltd.

A.S.K. Rewinds Ltd. (Registered number: 03670294)

Contents of the Financial Statements
for the Year Ended 30 November 2024










Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


A.S.K. Rewinds Ltd.

Company Information
for the Year Ended 30 November 2024







DIRECTORS: Mr A Whitaker
Mr P R Lewis





REGISTERED OFFICE: Unit 5 Laneside
Metcalf Drive
Altham Industrial Estate
Accrington
Lancashire
BB5 5TU





REGISTERED NUMBER: 03670294 (England and Wales)





ACCOUNTANTS: Bennett Kirkhope Smith
Chartered Certified Accountants
Suites 5 & 6 The Printworks
Hey Road
Barrow
Clitheroe
Lancashire
BB7 9WB

A.S.K. Rewinds Ltd. (Registered number: 03670294)

Balance Sheet
30 November 2024

30.11.24 30.11.23
Notes £    £    £    £   
FIXED ASSETS
Intangible assets 4 - -
Tangible assets 5 175,173 213,520
175,173 213,520

CURRENT ASSETS
Stocks 6 63,500 65,000
Debtors 7 261,962 236,160
Cash at bank and in hand 129,335 136,242
454,797 437,402
CREDITORS
Amounts falling due within one year 8 291,827 234,259
NET CURRENT ASSETS 162,970 203,143
TOTAL ASSETS LESS CURRENT
LIABILITIES

338,143

416,663

CREDITORS
Amounts falling due after more than one
year

9

(5,834

)

(29,138

)

PROVISIONS FOR LIABILITIES 12 (14,090 ) (17,170 )
NET ASSETS 318,219 370,355

CAPITAL AND RESERVES
Called up share capital 13 300 300
Retained earnings 317,919 370,055
SHAREHOLDERS' FUNDS 318,219 370,355

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

The members have not required the company to obtain an audit of its financial statements for the year ended 30 November 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.

A.S.K. Rewinds Ltd. (Registered number: 03670294)

Balance Sheet - continued
30 November 2024


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 Board of Directors and authorised for issue on 24 July 2025 and were signed on its behalf by:





Mr A Whitaker - Director


A.S.K. Rewinds Ltd. (Registered number: 03670294)

Notes to the Financial Statements
for the Year Ended 30 November 2024


1. STATUTORY INFORMATION

A.S.K. Rewinds Ltd. 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
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Goodwill
Goodwill, being the amount paid in connection with the acquisition of a business in 2005, is being amortised evenly over its estimated useful life of five years.

Intangible assets
Intangible assets are initially measured at cost. After initial recognition, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life or, if held under a finance lease, over the lease term, whichever is the shorter.
Freehold property - 4% on cost
Plant and machinery - 10% on reducing balance
Fixtures and fittings - 33% on cost and 10% on reducing balance
Motor vehicles - 25% on reducing balance

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

Cost is calculated using the first-in, first-out method and includes all purchase, transport, and handling costs in bringing stocks to their present location and condition.

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 balance sheet date.


A.S.K. Rewinds Ltd. (Registered number: 03670294)

Notes to the Financial Statements - continued
for the Year Ended 30 November 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 or finance leases are capitalised in the balance sheet. Those held under hire purchase contracts are depreciated over their estimated useful lives. Those held under finance leases are depreciated over their estimated useful lives or the lease term, whichever is the shorter.

The interest element of these obligations is charged to profit or loss over the relevant period. The capital element of the future payments is treated as a liability.

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 14 (2023 - 14 ) .

4. INTANGIBLE FIXED ASSETS
Goodwill
£   
COST
At 1 December 2023
and 30 November 2024 1,000
AMORTISATION
At 1 December 2023
and 30 November 2024 1,000
NET BOOK VALUE
At 30 November 2024 -
At 30 November 2023 -

A.S.K. Rewinds Ltd. (Registered number: 03670294)

Notes to the Financial Statements - continued
for the Year Ended 30 November 2024


5. TANGIBLE FIXED ASSETS
Fixtures
Freehold Plant and and Motor
property machinery fittings vehicles Totals
£    £    £    £    £   
COST
At 1 December 2023 668,149 69,276 26,191 91,932 855,548
Additions - - 4,727 8,000 12,727
Disposals - - - (23,233 ) (23,233 )
At 30 November 2024 668,149 69,276 30,918 76,699 845,042
DEPRECIATION
At 1 December 2023 526,018 45,035 23,838 47,137 642,028
Charge for year 26,157 2,424 2,551 11,129 42,261
Eliminated on disposal - - - (14,420 ) (14,420 )
At 30 November 2024 552,175 47,459 26,389 43,846 669,869
NET BOOK VALUE
At 30 November 2024 115,974 21,817 4,529 32,853 175,173
At 30 November 2023 142,131 24,241 2,353 44,795 213,520

Fixed assets, included in the above, which are held under hire purchase contracts are as follows:
Motor
vehicles
£   
COST
At 1 December 2023 60,414
Disposals (23,233 )
At 30 November 2024 37,181
DEPRECIATION
At 1 December 2023 22,836
Charge for year 9,158
Eliminated on disposal (14,420 )
At 30 November 2024 17,574
NET BOOK VALUE
At 30 November 2024 19,607
At 30 November 2023 37,578

6. STOCKS
30.11.24 30.11.23
£    £   
Work-in-progress 3,000 3,000
Stock 60,500 62,000
63,500 65,000

A.S.K. Rewinds Ltd. (Registered number: 03670294)

Notes to the Financial Statements - continued
for the Year Ended 30 November 2024


7. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
30.11.24 30.11.23
£    £   
Trade debtors 232,607 220,730
Other debtors 1,011 710
Prepayments 28,344 14,720
261,962 236,160

8. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
30.11.24 30.11.23
£    £   
Bank loans and overdrafts 10,000 10,000
Hire purchase contracts (see note 10) 10,424 17,445
Trade creditors 157,955 109,568
Corporation tax - 15,590
Social security and other taxes 15,812 7,617
VAT 37,240 39,147
Other creditors 6,872 6,872
Directors' current accounts 29,198 598
Accrued expenses 24,326 27,422
291,827 234,259

9. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
30.11.24 30.11.23
£    £   
Bank loans - 1-2 years 5,834 10,000
Bank loans - 2-5 years - 5,834
Hire purchase contracts (see note 10) - 13,304
5,834 29,138

10. LEASING AGREEMENTS

Minimum lease payments under hire purchase fall due as follows:

30.11.24 30.11.23
£    £   
Net obligations repayable:
Within one year 10,424 17,445
Between one and five years - 13,304
10,424 30,749

A.S.K. Rewinds Ltd. (Registered number: 03670294)

Notes to the Financial Statements - continued
for the Year Ended 30 November 2024


11. SECURED DEBTS

The following secured debts are included within creditors:

30.11.24 30.11.23
£    £   
Bank loans 15,834 25,834
Hire purchase contracts 10,424 30,749
26,258 56,583

Net obligations under finance lease and hire purchase contracts are secured by fixed charges on the assets concerned.

The bank loan is secured on land and buildings at Units 5-8 Laneside, Off Metcalfe Drive, Altham Industrial Estate, Altham, Accrington.

12. PROVISIONS FOR LIABILITIES
30.11.24 30.11.23
£    £   
Deferred tax 14,090 17,170

Deferred
tax
£   
Balance at 1 December 2023 17,170
Credit to Statement of Income and Retained Earnings during year (3,080 )
Balance at 30 November 2024 14,090

13. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 30.11.24 30.11.23
value: £    £   
100 Ordinary £1 100 100
200 A Ordinary £1 200 200
300 300

14. ULTIMATE CONTROLLING PARTY

The ultimate controlling party is Mr A Whitaker.