G Ashcroft and Co LLP Accounts






G Ashcroft and Co LLP

	Registered No. NC000348
	Information for Filing with the Registrar
		31 March 2025

at	31 March 2025

Registered No.			NC000348	Notes	2025	2024
					£	£
Fixed assets

	Tangible assets			4	1,039,338	1,039,338


					1,039,338	1,039,338
Current assets

	Debtors			5	3,496	4,443

	Cash at bank and in hand				79,952	106,204
					83,448	110,647
Creditors: Amounts falling due within one year				6	(2,449)	(3,533)
Net current assets					80,999	107,114
Total assets less current liabilities					1,120,337	1,146,452


Net assets attributable to members					1,120,337	1,146,452

Represented by:

	Members' other interests
		Members' capital			1,114,389	1,141,389

		Other reserves			5,948	5,063
					1,120,337	1,146,452

					1,120,337	1,146,452



These accounts have been prepared in accordance with the provisions applicable to LLPs subject to the small LLPs regime.

For the year ended 31 March 2025 the LLP was entitled to exemption from audit under section 477 of the Companies Act 2006 as applied by the Limited Liability Partnerships (Accounts and Audit)(Application of Companies Act 2006) Regulations 2008) relating to small LLPs.

The members acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 (as applied to LLPs) with respect to accounting records and the preparation of accounts.

As permitted by section 444 (5A)of the Companies Act 2006 the members have not delivered to the Registrar a copy of the company's profit and loss account.

Approved by the members on 31 March 2025 and signed on its behalf by:
E.H. Meuwissen
Designated member
31 March 2025

for the year ended 31 March 2025

General information

G Ashcroft and Co LLP is a limited liability partnership and incorporated in Northern Ireland.

Its registered number is: NC000348

Its registered office is:

1 Ormonde Avenue

Ballyhenry Road

Newtownabbey

BT36 5AT

The accounts have been prepared in accordance with FRS 102 Section 1A - The Financial Reporting Standard applicable in the UK and Republic of Ireland and the Companies Act 2006 and in accordance with the Statement of Recommended Practice 'Accounting for Limited Liability Partnerships' issued in December 2018.

Accounting policies

Turnover

Turnover is measured at the fair value of the consideration received or receivable. Turnover is reduced for estimated customer returns, rebates and other similar allowances.

Revenue from the sale of goods is recognised when all the following conditions are satisfied:
• the Company has transferred to the buyer the significant risks and rewards of ownership of the
goods;
• the Company retains neither continuing managerial involvement to the degree usually associated
with ownership nor effective control over the goods sold;
• the amount of revenue can be measured reliably;
• it is probable that the economic benefits associated with the transaction will flow to the Company;
and
• the costs incurred or to be incurred in respect of the transaction can be measured reliably.

Specifically, revenue from the sale of goods is recognised when goods are delivered and legal title is passed.

Members' remuneration and division of profits

Remuneration is paid to certain members under a contract of employment and is included as an expense in the profit and loss account.

In addition, the LLP agreement provides that fixed amounts, determined for each member each year, be paid to members, irrespective of the profits of the LLP. These amounts are included within members' remuneration charged as an expense.

Profits are treated as being available for discretionary division only if the the LLP has an unconditional right to refuse payment of the profits of a particular year unless and until the members agree to divide them. Once agreement has been reached to divide the profits, a members' share in the profit or loss for the year is accounted for as an allocation of profits. Unallocated profits and losses remain included within 'other reserves'.

Trade and other debtors

Trade and other debtors are initially recognised at fair value and thereafter stated at amortised cost using the effective interest method, less impairment losses for bad and doubtful debts.

Trade and other 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.

Members' Interests

Members' interests are classified as either equity or debt.

Equity interests comprise any capital introduced classified as equity, any unallocated profits, any revaluation reserve and any other reserves.

Loans and other debts due to members comprise any capital introduced but classified as a liability, any loans from members, amounts due to members in respect of allocated profits less drawings and any other amounts that the LLP is contractually obliged to repay to members.

Taxation

Taxation is not provided for in the accounts as taxation is the personal liability of the members. Any amounts held by the LLP on behalf of members in respect of their tax liabilities are treated as debts due to members.

3	Employees
		2025	2024
		Number	Number

	The average number of persons employed during the year was:	0	0

4	Tangible fixed assets
		Land and buildings	Plant and machinery	Total
		£	£	£
	Cost
	At 1 April 2024	1,039,338	3,550	1,042,888




	At 31 March 2025	1,039,338	3,550	1,042,888
	Depreciation
	At 1 April 2024	-	3,550	3,550




	At 31 March 2025	-	3,550	3,550
	Net book values
	At 31 March 2025	1,039,338	-	1,039,338
	At 31 March 2024	1,039,338	-	1,039,338

5	Debtors
		2025	2024
		£	£
	Trade debtors	2,532	4,433


	VAT recoverable	964	10


		3,496	4,443

6	Creditors:
	amounts falling due within one year
		2025	2024
		£	£
	Bank loans and overdrafts	-	-


	Trade creditors	963	2,046



	Accruals and deferred income	1,486	1,487
		2,449	3,533