Company No:
Contents
| Note | 2025 | 2024 | ||
| £ | £ | |||
| Restated - note 2 | ||||
| Fixed assets | ||||
| Investments | 4 |
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| 235,896 | 235,896 | |||
| Current assets | ||||
| Debtors | 5 |
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| 26,025 | 27,404 | |||
| Creditors: amounts falling due within one year | 6 | (
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(
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| Net current liabilities | (8,245) | (6,536) | ||
| Total assets less current liabilities | 227,651 | 229,360 | ||
| Net assets |
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| Capital and reserves | ||||
| Called-up share capital | 7 |
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| Profit and loss account |
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| Total shareholder's funds |
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Director's responsibilities:
The financial statements of Asthally Limited (registered number:
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Richard Patrick Murray
Director |
The principal accounting policies are summarised below. They have all been applied consistently throughout the financial year and to the preceding financial year, unless otherwise stated.
Asthally Limited (the Company) is a private company, limited by shares, incorporated in the United Kingdom under the Companies Act 2006 and is registered in England and Wales. The address of the Company's registered office is College Farm, Asthall Leigh, Witney, OX29 9PY, United Kingdom.
The financial statements have been prepared under the historical cost convention, modified to include certain items at fair value, and in accordance with Section 1A of Financial Reporting Standard 102 (FRS 102) ‘The Financial Reporting Standard applicable in the UK and Republic of Ireland’ issued by the Financial Reporting Council and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime.
The financial statements are presented in pounds sterling which is the functional currency of the Company and rounded to the nearest £.
The director has assessed the Statement of Financial Position and likely future cash flows at the date of approving these financial statements. The director has a reasonable expectation that the Company has adequate resources to continue in operational existence and to meet its financial obligations as they fall due for at least 12 months from the date of signing these financial statements. Accordingly, they continue to adopt the going concern basis in preparing the financial statements.
Where material misstatements are found in prior year figures, then these figures are restated to show the corrected position as detailed in Note 2.
Current tax is provided at amounts expected to be paid (or recoverable) using the tax rates and laws that have been enacted or substantively enacted at the Statement of Financial Position date.
Investments are recognised initially at fair value which is normally the transaction price excluding transaction costs. Subsequently, they are measured at fair value through profit or loss if the shares are publicly traded or their fair value can otherwise be measured reliably. Other investments are measured at cost less impairment.
Financial assets and financial liabilities are recognised when the Company becomes a party to the contractual provisions of the instrument.
Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instrument is any contract that evidences a residual interest in the assets of the Company after deducting all of its liabilities.
Financial assets and liabilities are only offset in the Balance Sheet when, and only when there exists a legally enforceable right to set off the recognised amounts and the Company intends either to settle on a net basis, or to realise the asset and settle the liability simultaneously.
Basic financial assets
Basic financial assets, which include debtors and cash and bank balances, are initially measured at transaction price including transaction costs and are subsequently carried at amortised cost using the effective interest method unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest. Financial assets classified as receivable within one year are not amortised.
Basic financial liabilities
Basic financial liabilities, including creditors, bank loans, loans from fellow group companies and preference shares that are classified as debt, are initially recognised at transaction price unless the arrangement constitutes a financing transaction, where the debt instrument is measured at the present value of the future payments discounted at a market rate of interest. Financial liabilities classified as payable within one year are not amortised.
Debt instruments are subsequently carried at amortised cost, using the effective interest rate method.
Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Amounts payable are classified as current liabilities if payment is due within one year or less. If not, they are presented as non-current liabilities. Trade creditors are recognised initially at transaction price and subsequently measured at amortised cost using the effective interest method.
The prior year financial statements have been restated to reclassify and better reflect amounts owed by other debtors as a fixed asset investment being the capital held in a partnership.
| As previously reported | Adjustment | As restated | ||||
| Year ended 30 April 2024 | £ | £ | £ | |||
| Other Debtors | 263,282 | (235,896) | 27,386 | |||
| Fixed Asset Investment | 0 | 235,896 | 235,896 |
| 2025 | 2024 | ||
| Number | Number | ||
| Monthly average number of persons employed by the Company during the year, including the director |
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| Other investments | Total | ||
| £ | £ | ||
| Cost or valuation before impairment | |||
| At 01 May 2024 |
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| At 30 April 2025 |
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| Carrying value at 30 April 2025 |
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| Carrying value at 30 April 2024 |
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| 2025 | 2024 | ||
| £ | £ | ||
| Corporation tax |
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| Other debtors |
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| £ | £ | ||
| Amounts owed to director |
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| Accruals |
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| £ | £ | ||
| Allotted, called-up and fully-paid | |||
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Transactions with the entity's director
At the balance sheet date £32,830 (2024: £32,830) was owed by the company to the director. This is an interest free loan and has no fixed date for repayment.
Other related party transactions
At the balance sheet date £26,006 (2024: £27,386) is shown within other debtors and represents the current account of the company in The Murray Partnership. R Murray, a director of this company is a partner within the The Murray partnership.