Badley, Ashton & Associates Limited - Accounts to registrar (filleted)

REGISTERED NUMBER: 01631926 (England and Wales)

BADLEY, ASHTON & ASSOCIATES LIMITED

UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 DECEMBER 2024

Page

Company Information

1

Statement of Financial Position

2

to

3

Notes to the Financial Statements

4

to

9

Accountants' Report

10

DIRECTORS:

Ms M Bertouche

B Kostic

SECRETARY:

Ms Z A Fearn

REGISTERED OFFICE:

Winceby House

Winceby

Horncastle

Lincolnshire

LN9 6PB

REGISTERED NUMBER:

01631926 (England and Wales)

ACCOUNTANTS:

Duncan & Toplis Limited

4 Henley Way

Doddington Road

Lincoln

Lincolnshire

LN6 3QR

FIXED ASSETS

Tangible assets

4

710,323

722,334

Investments

5

121,600

119,685

831,923

842,019

CURRENT ASSETS

Debtors

6

1,532,542

1,533,021

Cash at bank and in hand

74,525

85,806

1,607,067

1,618,827

CREDITORS

Amounts falling due within one year

7

888,833

890,197

NET CURRENT ASSETS

718,234

728,630

TOTAL ASSETS LESS CURRENT LIABILITIES

1,550,157

1,570,649

CREDITORS

Amounts falling due after more than one year

8

(219,343

)

(338,814

)

PROVISIONS FOR LIABILITIES

(145,858

)

-

NET ASSETS

1,184,956

1,231,835

CAPITAL AND RESERVES

Called up share capital

11

5,001

Revaluation reserve

12

403,775

568,959

Retained earnings

12

776,180

657,875

SHAREHOLDERS' FUNDS

1,184,956

1,231,835

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

The members have not required the company to obtain an audit of its financial statements for the year ended 31 December 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 29 August 2025 and were signed on its behalf by:

Ms M Bertouche - Director

1.	STATUTORY INFORMATION

Badley, Ashton & Associates 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.

The presentation currency of the financial statements is the Pound Sterling (£).

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 as modified by the revaluation of certain assets.

Preparation of consolidated financial statements

The financial statements contain information about Badley, Ashton & Associates Limited as an individual company and do not contain consolidated financial information as the parent of a group. The company is exempt under Section 399(2A) of the Companies Act 2006 from the requirements to prepare consolidated financial statements.

Related party exemption

The company has taken advantage of exemption, under the terms of Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland', not to disclose related party transactions with wholly owned subsidiaries within the group.

Turnover

Turnover is stated net of VAT and trade discounts.

Turnover from the supply of services represents the value of services provided under contracts to the extent that there is a right to consideration and is recorded at the value of the consideration due. Where a contract has only been partially completed at the statement of financial position date, turnover represents the value of the service provided to date based on the hours worked at the agreed hourly rates for that contract. Where payments are received from customers in advance of services provided, the amounts are recorded as deferred income and included as part of creditor due within one year.

Tangible fixed assets

Depreciation is provided at the following annual rates in order to write off the cost less estimated residual value of each asset over its estimated useful life.

Land and buildings

-

2% on reducing balance

Plant and machinery etc

-

33% on cost and 25% on reducing balance

Tangible fixed assets are held at cost less depreciation.

Government grants

The company receives government grants in respect of an alternative fuel payment scheme. These grants are recognised at the fair value of the asset received or receivable when there is reasonable assurance that the company will comply with conditions attaching to them and the grants will be received using the performance model.

Investments in subsidiaries

Investments in subsidiary undertakings are recognised at cost.

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 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. Non-monetary items measured at historical cost are translated using the exchange rate at the date of the transaction and non-monetary items measured at fair value are measured using the exchange rate when fair value was determined.

Foreign exchange gains and losses resulting from the settlement of transactions and from the translation at period-end exchange rates of monetary assets and liabilities denominated in foreign currencies are recognised in the Statements of Income and Retained Earnings.

Foreign exchange gains and losses that related to borrowings and cash and cash equivalents are presented in the Statements of Income and Retained Earnings within finance costs. All other foreign exchange gains and losses are presented in the Statement of Income and Retained Earnings within other operating income.

Hire purchase and leasing commitments

Assets obtained under hire purchase contract or finance leases are capitalised in the statement of financial position. Those held under hire purchase contracts are depreciated over their estimated useful lives. Those held under finance leases are depreciated over their estimate useful lives or the lease term, whichever is shorter.

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

Rentals paid under operating leases are charged to statement of income and retained earnings 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 the income statement in the period to which they relate.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 25 (2023 - 25 ) .

4.	TANGIBLE FIXED ASSETS

Plant and

Land and

machinery

buildings

etc

Totals

£

COST OR VALUATION

At 1 January 2024

700,000

1,181,089

1,881,089

Additions

-

16,220

At 31 December 2024

700,000

1,197,309

1,897,309

DEPRECIATION

At 1 January 2024

67,163

1,091,592

1,158,755

Charge for year

12,657

15,574

28,231

At 31 December 2024

79,820

1,107,166

1,186,986

NET BOOK VALUE

At 31 December 2024

620,180

90,143

710,323

At 31 December 2023

632,837

89,497

722,334

Cost or valuation at 31 December 2024 is represented by:

Plant and

Land and

machinery

buildings

etc

Totals

£

Valuation in 2019

419,567

-

419,567

Cost

280,433

1,197,309

1,477,742

700,000

1,197,309

1,897,309

If freehold property had not been revalued it would have been included at the following historical cost:

2024

2023

£

Cost

280,433

Freehold property was valued on an open market basis on 19 February 2019 by Turner Evans Stevens Limited .

5.	FIXED ASSET INVESTMENTS

Shares in

group

undertakings

£

COST OR VALUATION

At 1 January 2024

119,685

Exchange differences

1,915

At 31 December 2024

121,600

NET BOOK VALUE

At 31 December 2024

121,600

At 31 December 2023

119,685

Cost or valuation at 31 December 2024 is represented by:

Shares in

group

undertakings

£

Valuation in 2022

16,729

Valuation in 2023

(5,935

)

Valuation in 2024

1,915

Cost

108,891

121,600

The valuation fluctuates each year depending on the exchange rate at the financial position end date.

The company's investments at the Statement of Financial Position date in the share capital of companies include the following:

Badley Ashton America Inc

Registered office: C/O, Carr Riggs & Ingram LLC, 2 Riverway, 15th Floor, Houston, Texas, 77056-2084

Nature of business: Reservoir geoscience consultancy

%

Class of shares:

holding

Ordinary

100.00

Preference shares

25.00

6.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2024

2023

£

Trade debtors

459,915

429,499

Amounts owed by group undertakings

220,782

130,427

Amounts recoverable on contract

765,481

864,960

Other debtors

86,364

108,135

1,532,542

1,533,021

Amounts owed from group undertakings are unsecured, accrue no interest and are repayable on demand.

7.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2024

2023

£

Bank loans and overdrafts

457,157

365,518

Hire purchase contracts (see note 9)

7,581

10,368

Trade creditors

43,602

26,739

Amounts owed to group undertakings

1,701

-

Taxation and social security

26,573

32,847

Other creditors

352,219

454,725

888,833

890,197

Amounts owed to group undertakings are unsecured, interest free and repayable on demand.

8.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

2024

2023

£

Bank loans

219,343

331,233

Hire purchase contracts (see note 9)

-

7,581

219,343

338,814

Amounts falling due in more than five years:

Repayable by instalments

Bank loans more than 5 years by installments

122,457

-

9.	LEASING AGREEMENTS

Minimum lease payments fall due as follows:

Hire purchase

contracts

2024

2023

£

Net obligations repayable:

Within one year

7,581

10,368

Between one and five years

-

7,581

17,949

Non-cancellable

operating leases

2024

2023

£

Within one year

-

3,528

10.	SECURED DEBTS

The following secured debts are included within creditors:

2024

2023

£

Bank overdrafts

343,352

249,798

Bank loans

333,148

446,953

Hire purchase contracts

7,581

17,949

684,081

714,700

HSBC Bank plc hold a second legal charge over freehold property and debenture including all asset and undertakings of the company

11.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

2024

2023

value:

£

5,000

Ordinary A

£1

5,000

1

Ordinary B

£1

1

5,001

12.

RESERVES

Retained

Revaluation

earnings

reserve

Totals

£

At 1 January 2024

657,875

568,959

1,226,834

Profit for the year

76,024

Dividends

(122,903

)

(122,903

)

Excess depreciation over cost

30,593

(30,593

)

-

Other transfers

134,591

(134,591

)

-

At 31 December 2024

776,180

403,775

1,179,955

Retained earnings relate to accumulated profits less accumulated losses less any distributions. Retained earnings is a distributable reserve.

Revaluation reserve relates to gains less losses on revaluation of assets less any transfers of the excess depreciation on revaluation on freehold property net of any associated tax charges. Revaluation reserve is a non-distributable reserve.

13.	CONTINGENT LIABILITIES

At 31 December 2024 the group had provided guarantees to its bankers to the value of 150,500 AED (2023: 150,500 AED) and $8,000 (2023: $8,000).

14.	ULTIMATE CONTROLLING PARTY

The ultimate parent company is Badley Ashton Limited. Badley Ashton Limited is ultimately controlled by the shareholders.

The following reproduces the text of the report prepared for the directors in respect of the company's annual unaudited financial statements. In accordance with the Companies Act 2006, the company is only required to file a Statement of Financial Position. Readers are cautioned that the Income Statement and certain other primary statements and the Report of the Directors are not required to be filed with the Registrar of Companies.

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the financial statements of Badley, Ashton & Associates Limited for the year ended 31 December 2024 which comprise the Income Statement, Statement of Financial Position, Statement of Changes in Equity and the related notes from the company's accounting records and from information and explanations you have given us.

This report is made solely to the Board of Directors of Badley, Ashton & Associates Limited, as a body, in accordance with our terms of engagement. Our work has been undertaken solely to prepare for your approval the financial statements of Badley, Ashton & Associates Limited and state those matters that we have agreed to state to the Board of Directors of Badley, Ashton & Associates Limited, as a body, in this report. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than the company and its Board of Directors, as a body, for our work or for this report.

It is your duty to ensure that Badley, Ashton & Associates Limited has kept adequate accounting records and to prepare statutory financial statements that give a true and fair view of the assets, liabilities, financial position and profit of Badley, Ashton & Associates Limited. You consider that Badley, Ashton & Associates Limited is exempt from the statutory audit requirement for the year.

We have not been instructed to carry out an audit or a review of the financial statements of Badley, Ashton & Associates Limited. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory financial statements.

Duncan & Toplis Limited

4 Henley Way

Doddington Road

Lincoln

Lincolnshire

LN6 3QR

29 August 2025