Anthony Axford Limited Filleted accounts for Companies House (small and micro)

COMPANY REGISTRATION NUMBER: 1421417

ANTHONY AXFORD LIMITED

Filleted Unaudited Financial Statements

31 December 2024

ANTHONY AXFORD LIMITED

Financial Statements

Year ended 31st December 2024

Contents	Page

Statement of financial position	1

Notes to the financial statements	3

ANTHONY AXFORD LIMITED

Statement of Financial Position

31 December 2024

	2024		2023
Note	£	£	£

Fixed assets

Tangible assets	5	980,875	968,307
Investments	6	1	1
		---------	---------
		980,876	968,308

Current assets

Stocks		1,857,768	1,882,675
Debtors	7	766,402	780,789
Cash at bank and in hand		24,759	38,767
		------------	------------
		2,648,929	2,702,231

Creditors: amounts falling due within one year	8	1,585,410		1,352,698
		------------		------------
Net current assets			1,063,519	1,349,533
			------------	------------
Total assets less current liabilities			2,044,395	2,317,841

Creditors: amounts falling due after more than one year	9	30,202	3,632
		------------	------------
Net assets		2,014,193	2,314,209
		------------	------------

Capital and reserves

Called up share capital	10,000	10,000
Revaluation reserve	111,658	111,658
Profit and loss account	1,892,535	2,192,551
	------------	------------
Shareholders funds	2,014,193	2,314,209
	------------	------------

These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with Section 1A of FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.

In accordance with section 444 of the Companies Act 2006, the statement of comprehensive income has not been delivered.

For the year ending 31st December 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Directors' responsibilities:

- The members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476 ;

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

ANTHONY AXFORD LIMITED

Statement of Financial Position (continued)

31 December 2024

These financial statements were approved by the board of directors and authorised for issue on 24 September 2025 , and are signed on behalf of the board by:

M J Axford	M A Axford
Director	Director

Company registration number: 1421417

ANTHONY AXFORD LIMITED

Notes to the Financial Statements

Year ended 31st December 2024

1. General information

The company is a private company limited by shares, registered in England and Wales. The address of the registered office is Atlas Sawmills, King Street, Farnworth, Bolton, BL4 7AD.

2. Statement of compliance

These financial statements have been prepared in compliance with Section 1A of FRS 102, 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland'.

3. Accounting policies

Basis of preparation

The financial statements have been prepared on the historical cost basis, as modified by the revaluation of certain financial assets and liabilities and investment properties measured at fair value through profit or loss.

The financial statements are prepared in sterling, which is the functional currency of the entity.

Consolidation

The company has taken advantage of the option not to prepare consolidated financial statements contained in Section 398 of the Companies Act 2006 on the basis that the company and its subsidiary undertakings comprise a small group.

Judgements and key sources of estimation uncertainty

The preparation of the financial statements requires management to make judgements, estimates and assumptions that affect the amounts reported. These estimates and judgements are continually reviewed and are based on experience and other factors, including expectations of future events that are believed to be reasonable under the circumstances. Key sources of estimation uncertainty Accounting estimates and assumptions are made concerning the future and, by their nature, will rarely equal the related actual outcome. The key assumptions and other sources of estimation uncertainty that have a significant risk of causing a material adjustment to the carrying amounts of assets and liabilities within the next financial year are as follows: Depreciation of tangible fixed assets Depreciation is calculated so as to write off the cost or valuation of an asset, less its residual value, over the useful economic life of that asset.

Revenue recognition

Turnover is measured at the fair value of the consideration received or receivable for goods supplied and services rendered, net of discounts and Value Added Tax. Revenue from the sale of goods is recognised when the significant risks and rewards of ownership have transferred to the buyer (usually on despatch of the goods); the amount of revenue can be measured reliably; it is probable that the associated economic benefits will flow to the entity; and the costs incurred or to be incurred in respect of the transactions can be measured reliably.

Tangible assets

Tangible assets are initially recorded at cost, and subsequently stated at cost less any accumulated depreciation and impairment losses. Any tangible assets carried at revalued amounts are recorded at the fair value at the date of revaluation less any subsequent accumulated depreciation and subsequent accumulated impairment losses. An increase in the carrying amount of an asset as a result of a revaluation, is recognised in other comprehensive income and accumulated in equity, except to the extent it reverses a revaluation decrease of the same asset previously recognised in profit or loss. A decrease in the carrying amount of an asset as a result of revaluation, is recognised in other comprehensive income to the extent of any previously recognised revaluation increase accumulated in equity in respect of that asset. Where a revaluation decrease exceeds the accumulated revaluation gains accumulated in equity in respect of that asset, the excess shall be recognised in profit or loss.

Depreciation

Depreciation is calculated so as to write off the cost or valuation of an asset, less its residual value, over the useful economic life of that asset as follows. No depreciation has been charged on freehold property in the current year as the directors consider that the residual value is not less than it's carrying value.

Plant & Machinery	-	10% reducing balance
Fixtures, Fittings & Equipment	-	10% reducing balance
Motor Vehicles	-	10% reducing balance

Investments

Fixed asset investments are initially recorded at cost, and subsequently stated at cost less any accumulated impairment losses.

Impairment of fixed assets

A review for indicators of impairment is carried out at each reporting date, with the recoverable amount being estimated where such indicators exist. Where the carrying value exceeds the recoverable amount, the asset is impaired accordingly. Prior impairments are also reviewed for possible reversal at each reporting date. For the purposes of impairment testing, when it is not possible to estimate the recoverable amount of an individual asset, an estimate is made of the recoverable amount of the cash-generating unit to which the asset belongs. The cash-generating unit is the smallest identifiable group of assets that includes the asset and generates cash inflows that largely independent of the cash inflows from other assets or groups of assets.

Stocks

Stocks are measured at the lower of cost and estimated selling price less costs to complete and sell. Cost includes all costs of purchase, costs of conversion and other costs incurred in bringing the stock to its present location and condition.

Finance leases and hire purchase contracts

Assets held under finance leases and hire purchase contracts are recognised in the statement of financial position as assets and liabilities at the lower of the fair value of the assets and the present value of the minimum lease payments, which is determined at the inception of the lease term. Any initial direct costs of the lease are added to the amount recognised as an asset. Lease payments are apportioned between the finance charges and reduction of the outstanding lease liability using the effective interest method. Finance charges are allocated to each period so as to produce a constant rate of interest on the remaining balance of the liability.

Financial instruments

A financial asset or a financial liability is recognised only when the entity becomes a party to the contractual provisions of the instrument. Basic financial instruments are initially recognised at the transaction price, unless the arrangement constitutes a financing transaction, where it is recognised at the present value of the future payments discounted at a market rate of interest for a similar debt instrument. Debt instruments are subsequently measured at amortised cost. Financial assets that are measured at cost or amortised cost are reviewed for objective evidence of impairment at the end of each reporting date. If there is objective evidence of impairment, an impairment loss is recognised in profit or loss immediately. Any reversals of impairment are recognised in profit or loss immediately, to the extent that the reversal does not result in a carrying amount of the financial asset that exceeds what the carrying amount would have been had the impairment not previously been recognised.

Defined contribution plans

Contributions to defined contribution plans are recognised as an expense in the period in which the related service is provided. Prepaid contributions are recognised as an asset to the extent that the prepayment will lead to a reduction in future payments or a cash refund.

4. Employee numbers

The average number of persons employed by the company during the year amounted to 44 (2023: 47 ).

5. Tangible assets

	Freehold land and buildings	Plant and machinery	Fixtures and fittings	Motor vehicles	Total
	£	£	£	£	£
Cost
At 1st January 2024	630,983	477,955	250,062	45,738	1,404,738
Additions	5,825	37,930	6,200	–	49,955
	---------	---------	---------	--------	------------
At 31st December 2024	636,808	515,885	256,262	45,738	1,454,693
	---------	---------	---------	--------	------------
Depreciation
At 1st January 2024	–	218,038	199,526	18,867	436,431
Charge for the year	–	29,439	5,260	2,688	37,387
	---------	---------	---------	--------	------------
At 31st December 2024	–	247,477	204,786	21,555	473,818
	---------	---------	---------	--------	------------
Carrying amount
At 31st December 2024	636,808	268,408	51,476	24,183	980,875
	---------	---------	---------	--------	------------
At 31st December 2023	630,983	259,917	50,536	26,871	968,307
	---------	---------	---------	--------	------------

6. Investments

	Shares in group undertakings
	£
Cost
At 1st January 2024 and 31st December 2024	1
	----
Impairment
At 1st January 2024 and 31st December 2024	–
	----

Carrying amount
At 31st December 2024	1
	----
At 31st December 2023	1
	----

7. Debtors

	2024	2023
	£	£
Trade debtors	479,601	524,639
Amounts owed by group undertakings and undertakings in which the company has a participating interest	–	40,289
Other debtors	286,801	215,861
	---------	---------
	766,402	780,789
	---------	---------

8. Creditors: amounts falling due within one year

	2024	2023
	£	£
Bank loans and overdrafts	207,429	243,710
Trade creditors	933,391	918,627
Social security and other taxes	248,903	164,575
Other creditors	195,687	25,786
	------------	------------
	1,585,410	1,352,698
	------------	------------

Barclays Bank PLC holds a fixed and floating mortgage debenture on the present and future assets of the company, other than any fixed assets subject to hire purchase finance.

Barclays Bank PLC also holds separate legal charges over the land and buildings owned by the company.

Hire purchase creditors are secured on the assets for which the hire purchase finance was provided.

9. Creditors: amounts falling due after more than one year

	2024	2023
	£	£
Bank loans and overdrafts	30,202	–
Other creditors	–	3,632
	--------	-------
	30,202	3,632
	--------	-------

Barclays Bank PLC holds a fixed and floating mortgage debenture on the present and future assets of the company, other than any fixed assets subject to hire purchase finance.

Barclays Bank PLC also holds separate legal charges over the land and buildings owned by the company.

Hire purchase creditors are secured on the assets for which the hire purchase finance was provided.

10. Directors' advances, credits and guarantees

At 31st December 2024 the company was owed £65,490 (2023 - £33,502) from the directors. No interest has been charged to the directors in respect of this loan which is repayable on demand and classified in other debtors.

11. Related party transactions

At 31st December 2024 the company was owed £NIL (2023 - £40,289) from Aspden Timber Services Limited, a wholly owned subsidiary.