Ashford Homes (South Western) Ltd - Accounts to registrar (filleted)

REGISTERED NUMBER: 02469064 (England and Wales)

Financial Statements

for the Year Ended 31 December 2024

for

Ashford Homes (South Western)

Limited

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

3

DIRECTORS:

Dr R D Timbrell-Whittle

K R Doel

S Morgan

T Griffiths

REGISTERED OFFICE:

Doric House

Middleton Drive

Bradford on Avon

Wiltshire

BA15 1GB

REGISTERED NUMBER:

02469064 (England and Wales)

FIXED ASSETS

Tangible assets

5

10,014

5,468

CURRENT ASSETS

Debtors

6

899,593

1,236,126

Cash at bank and in hand

26,786

398,757

926,379

1,634,883

CREDITORS

Amounts falling due within one year

7

917,201

1,425,113

NET CURRENT ASSETS

9,178

209,770

TOTAL ASSETS LESS CURRENT
LIABILITIES

19,192

215,238

CAPITAL AND RESERVES

Called up share capital

65,922

Retained earnings

(46,730

)

149,316

SHAREHOLDERS' FUNDS

19,192

215,238

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 Comprehensive Income has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 12 December 2025 and were signed on its behalf by:

Dr R D Timbrell-Whittle - Director

S Morgan - Director

1.	STATUTORY INFORMATION

Ashford Homes (South Western) 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.

2.	STATEMENT OF COMPLIANCE

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 company has applied 'The Companies, Partnerships and Groups (Accounts and Reports) Regulations 2015 (SI 2015/980).

3.	ACCOUNTING POLICIES

Basis of preparing the financial statements

The principal accounting policies adopted in the preparation of the financial statements are set out below. These policies have been consistently applied to all years presented unless otherwise stated.

Functional and presentation currency

The company's functional and presentation currency is sterling (£).

Going concern

The company's assessment of the going concern position is addressed at note 14 to these accounts.

Turnover

Turnover is measured at the fair value of the consideration received or receivable. Turnover is reduced for customer returns, rebates or other similar allowances and is net of value added taxes. Turnover includes revenue earned from the sale of goods and from the rendering of services.

Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of the contract is measured by comparing costs incurred for work performed to date to the total estimated contract costs. Turnover is only recognised to the extent of recoverable expenses when the outcome of a contract cannot be estimated reliably.

Tangible fixed assets

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

Fixtures and fittings

-

50% on straight line basis, 33% on straight line basis and 25% on straight line basis

Motor vehicles

-

25% on straight line basis

Impairment of assets

At each reporting date, the company reviews the carrying amounts of its fixed assets to determine whether there is any indication that any items of property, plant and equipment have suffered an impairment loss. If there is an indication of possible impairment, the recoverable amount of any affected asset is estimated and compared with its carrying amount. If estimated recoverable amount is lower, the carrying amount is reduced to its estimated recoverable amount, and an impairment loss is recognised immediately in the profit and loss.

If an impairment loss subsequently reverses, the carrying amount of the asset is increased to the revised estimate of its recoverable amount, but not in excess of the amount that would have been determined had no impairment loss been recognised for the asset in prior years. A reversal of an impairment loss is recognised immediately in the profit and loss.

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 balance sheet date.

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.

Foreign currencies

Transactions in currencies other than the functional currency of the Company are recorded at the rate of exchange on the date the transaction occurred. Monetary items denominated in other currencies are translated at the rate prevailing at the end of the reporting period. All differences are taken to the statement of comprehensive income. Non-monetary items that are measured at historic cost in a foreign currency are not retranslated.

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.

Operating lease payments are recognised as an expense on a straight-line basis over the lease term, except where another systematic basis is more representative of the time pattern in which economic benefits from the leased asset are consumed. Contingent rentals arising under operating leases are recognise as an expense in the period in which they are incurred.

Pension costs and other post-retirement benefits

The company operates a defined contribution pension scheme for employees. The assets of the scheme are held separately from those of the company. The annual contributions payable are charged to the profit and loss account.

4.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 28 (2023 - 25 ) .

5.	TANGIBLE FIXED ASSETS

Fixtures

and

Motor

fittings

vehicles

Totals

£

COST

At 1 January 2024

92,617

14,101

106,718

Additions

5,444

8,479

13,923

At 31 December 2024

98,061

22,580

120,641

DEPRECIATION

At 1 January 2024

87,149

14,101

101,250

Charge for year

8,388

989

9,377

At 31 December 2024

95,537

15,090

110,627

NET BOOK VALUE

At 31 December 2024

2,524

7,490

10,014

At 31 December 2023

5,468

-

5,468

6.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2024

2023

£

Trade debtors

1,375

60,503

Amounts owed by group undertakings

763,726

1,016,127

Amounts recoverable on contract

-

287

VAT

54,183

74,415

Deferred tax asset

11,518

13,550

Prepayments and accrued income

68,791

71,244

899,593

1,236,126

7.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2024

2023

£

Trade creditors

694,628

971,336

Amounts owed to group undertakings

630

55

Tax

-

83,133

Social security and other taxes

57,950

78,672

Other creditors

141,180

249,365

Accruals and deferred income

22,813

42,552

917,201

1,425,113

8.	LEASING AGREEMENTS

Minimum lease payments under non-cancellable operating leases fall due as follows:

2024

2023

£

Within one year

155,450

143,960

Between one and five years

84,106

163,783

239,556

307,743

9.	DISCLOSURE UNDER SECTION 444(5B) OF THE COMPANIES ACT 2006

The Report of the Auditors was unqualified.

Martin Longmore (Senior Statutory Auditor)

for and on behalf of Sumer Auditco Limited

10.	DIRECTORS' ADVANCES, CREDITS AND GUARANTEES

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

2024

2023

£

K R Doel

Balance outstanding at start of year

-

1,529

Amounts advanced

-

239

Amounts repaid

-

(1,768

)

Amounts written off

-

Amounts waived

-

Balance outstanding at end of year

-

S Morgan

Balance outstanding at start of year

-

270

Amounts advanced

-

2,126

Amounts repaid

-

(2,396

)

Amounts written off

-

Amounts waived

-

Balance outstanding at end of year

-

Dr R D Timbrell-Whittle

Balance outstanding at start of year

-

Amounts advanced

-

7,804

Amounts repaid

-

(7,804

)

Amounts written off

-

Amounts waived

-

Balance outstanding at end of year

-

11.	RELATED PARTY DISCLOSURES

A dividend of £NIL (2023: £16,000) was paid to each of the following directors, Mr K R Doel, Mr S P Morgan and Mr T Griffiths during the year.

Doric Developments (Bath) Limited - parent company

Doric Developments (Bath) Limited draws up the consolidated financial statements for the group. Its registered office is Doric House, Middleton Drive, Bradford on Avon, BA15 1GB.

During the year the company traded with Doric Developments (Bath) Limited. The transactions and balances consisted of the following:

Sales net of sales credits of £11,082,810 (2023: £12,640,650).

The net amount due at the year end is £763,726 (2023: £1,016,127), and is included in debtors as amounts due from group undertakings at the year end.

A dividend was paid to the parent company of £NIL (2023: £150,000).

A loan was advanced from the parent company of £220,000 (2023; £NIL). This was fully repaid in the year. The loan was unsecured and interest free.

Islington Trowbridge Limited - fellow subsidiary of Doric Developments (Bath) Limited

During the year the company traded with Islington Trowbridge Limited.The transactions and balances consisted of the following:

Purchases of £5,113 (2023: £6,913).

A balance of £630 (2023: £55) is included within creditors as amounts owed to group undertakings at the year end.

Sales of £2,739 (2023: £2,581).

Braemon Holdings - a partnership in which Dr R D Timbrell-Whittle has a 50% interest

The company traded with Braemon Holdings. The transactions and balances consisted of the following:

Sales of £22,617 (2023: £36,018).

There were no balances outstanding at year end.

Cabot Trustees Limited - Pension scheme of which Dr R D Timbrell-Whittle is a beneficiary

The company traded with Cabot Trustees Limited. The transactions and balances consisted of the following:

Sales of £27,424 (2023: £20,801).

A balance of £1,076 (2023: £27) is included in trade debtors at the year end.

Rent was paid, including insurance and VAT, of £99,497 (2023: £99,343) during the year.

Key management personnel compensation

During the year, key management personnel received total emoluments of £362,460 (2023: £347,827).

12.	ULTIMATE CONTROLLING PARTY

The company is controlled by the directors and shareholders of Doric Developments (Bath) Limited, Dr R D Timbrell-Whittle and Mrs S A Timbrell-Whittle.

13.	GOING CONCERN

The company has sustained a loss and has a deficit of net assets. The position has improved since the year end. The directors have undertaken an assessment of the company's ability to operate as a going concern for the period of 12 months from the date on which these financial statements have been approved. In doing so, they have sought confirmation from the directors of the parent company that that company will continue to provide such support as is necessary in order to assist the company to meet its liabilities as they fall due. The directors of the parent company have confirmed that they are willing and able to provide such confirmation.