Company registration number 01696956 (England and Wales)
ASSETWELL LIMITED
FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 JUNE 2025
PAGES FOR FILING WITH REGISTRAR
ASSETWELL LIMITED
CONTENTS
Page
Statement of financial position
1
Notes to the financial statements
2 - 9
ASSETWELL LIMITED
STATEMENT OF FINANCIAL POSITION
AS AT 30 JUNE 2025
30 June 2025
- 1 -
2025
2024
Notes
£
£
£
£
Non-current assets
Property, plant and equipment
4
96,665
141,564
Current assets
Inventories
400,388
771,241
Trade and other receivables
5
2,740,475
2,086,746
Cash and cash equivalents
488,818
318
3,629,681
2,858,305
Current liabilities
6
(1,501,725)
(1,541,836)
Net current assets
2,127,956
1,316,469
Net assets
2,224,621
1,458,033
Equity
Called up share capital
7
100
100
Retained earnings
2,224,521
1,457,933
Total equity
2,224,621
1,458,033

These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

The directors of the company have elected not to include a copy of the income statement within the financial statements.true

The financial statements were approved by the board of directors and authorised for issue on 25 November 2025 and are signed on its behalf by:
Mr I F Hepworth
Director
Company registration number 01696956 (England and Wales)
ASSETWELL LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 JUNE 2025
- 2 -
1
Accounting policies
Company information

Assetwell Limited is a private company limited by shares incorporated in England and Wales. The registered office is Holme Farm, Walden Stubbs, Doncaster, South Yorkshire, DN6 9BU.

1.1
Accounting convention

These financial statements have been prepared in accordance with FRS 102 “The Financial Reporting Standard applicable in the UK and Republic of Ireland” (“FRS 102”) and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime. The disclosure requirements of section 1A of FRS 102 have been applied other than where additional disclosure is required to show a true and fair view.

The financial statements are prepared in sterling, which is the functional currency of the company. Monetary a mounts in these financial statements are rounded to the nearest £.

The financial statements have been prepared under the historical cost convention. The principal accounting policies adopted are set out below.

1.2
Going concern

A true t the time of approving the financial statements, t he directors have a reasonable expectation that the company has adequate resources to continue in operational existence for the foreseeable future. Thus t he directors continue to adopt the going concern basis of accounting in preparing the financial statements.

1.3
Revenue

Revenue comprises sales of goods or services provided to customers net of value added tax and other sales taxes, less an appropriate deduction for actual and expected returns and discounts. Revenue is recognised when performance obligations are satisfied and the control of goods or services is transferred to the buyer. Where the performance obligation is satisfied over time, revenue is recognised in accordance with its progress towards complete satisfaction of that performance obligation.

When cash inflows are deferred and represent a financing arrangement, the promised consideration is adjusted for the effects of the time value of money, which is recognised as interest income.

Revenue from the sale of goods is recognised when the significant risks and rewards of ownership of the goods have passed to the buyer (usually on dispatch of the goods), the amount of revenue can be measured reliably, it is probable that the economic benefits associated with the transaction will flow to the entity and the costs incurred or to be incurred in respect of the transaction can be measured reliably.

1.4
Property, plant and equipment

Property, plant and equipment are initially measured at cost and subsequently measured at cost or valuation, net of depreciation and any impairment losses.

Tangible fixed assets are stated at cost less depreciation. Depreciation is provided at rates calculated to write off the cost less estimated residual value of each asset over its expected useful life, as follows:

Land and buildings Freehold
2% straight line
Plant and machinery
33% straight line
Fixtures, fittings & equipment
33% straight line
Motor vehicles
25% straight line

The gain or loss arising on the disposal of an asset is determined as the difference between the sale proceeds and the carrying value of the asset, and is credited or charged to profit or loss.

ASSETWELL LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 30 JUNE 2025
1
Accounting policies
(Continued)
- 3 -
1.5
Impairment of non-current assets

At each reporting period end date, the company reviews the carrying amounts of its tangible assets to determine whether there is any indication that those assets have suffered an impairment loss. If any such indication exists, the recoverable amount of the asset is estimated in order to determine the extent of the impairment loss (if any). Where it is not possible to estimate the recoverable amount of an individual asset, the company estimates the recoverable amount of the cash-generating unit to which the asset belongs.

Recoverable amount is the higher of fair value less costs to sell and value in use. In assessing value in use, the estimated future cash flows are discounted to their present value using a pre-tax discount rate that reflects current market assessments of the time value of money and the risks specific to the asset for which the estimates of future cash flows have not been adjusted.

If the recoverable amount of an asset (or cash-generating unit) is estimated to be less than its carrying amount, the carrying amount of the asset (or cash-generating unit) is reduced to its recoverable amount. An impairment loss is recognised immediately in profit or loss, unless the relevant asset is carried at a revalued amount, in which case the impairment loss is treated as a revaluation decrease.

Recognised impairment losses are reversed if, and only if, the reasons for the impairment loss have ceased to apply. Where an impairment loss subsequently reverses, the carrying amount of the asset (or cash-generating unit) is increased to the revised estimate of its recoverable amount, but so that the increased carrying amount does not exceed the carrying amount that would have been determined had no impairment loss been recognised for the asset (or cash-generating unit) in prior years. A reversal of an impairment loss is recognised immediately in profit or loss, unless the relevant asset is carried at a revalued amount, in which case the reversal of the impairment loss is treated as a revaluation increase.

1.6
Inventories

Inventories are stated at the lower of cost and estimated selling price less costs to complete and sell. Cost comprises direct materials and, where applicable, direct labour costs and those overheads that have been incurred in bringing the inventories to their present location and condition.

At each reporting date, an assessment is made for impairment. Any excess of the carrying amount of inventories over its estimated selling price less costs to complete and sell is recognised as an impairment loss in profit or loss. Reversals of impairment losses are also recognised in profit or loss.

1.7
Cash and cash equivalents

Cash and cash equivalents are basic financial assets and include cash in hand, deposits held at call with banks, other short-term liquid investments with original maturities of three months or less, and bank overdrafts. Bank overdrafts are shown within borrowings in current liabilities.

1.8
Financial instruments

The company has elected to apply the provisions of Section 11 ‘Basic Financial Instruments’ and Section 12 ‘Other Financial Instruments Issues’ of FRS 102 to all of its financial instruments.

Financial instruments are recognised in the company's statement of financial position when the company becomes party to the contractual provisions of the instrument.

Financial assets and liabilities are offset, with the net amounts presented in the financial statements, when there is a legally enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously.

ASSETWELL LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 30 JUNE 2025
1
Accounting policies
(Continued)
- 4 -
Basic financial assets

Basic financial assets, which include trade and other receivables 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.

Classification of financial liabilities

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.

Basic financial liabilities

Basic financial liabilities, including trade and other payables, 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 paymen ts 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 payables are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. A m ounts 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 payables are recognised initially at transaction price and subsequently measured at amortised cost using the effective interest method.

1.9
Equity instruments

Equity instruments issued by the company are recorded at the proceeds received, net of transaction costs. Dividends payable on equity instruments are recognised as liabilities once they are no longer at the discretion of the company.

Changes in the fair value of derivatives that are designated and qualify as fair value hedges are recognised in profit or loss immediately, together with any changes in the fair value of the hedged asset or liability that are attributable to the hedged risk.

1.10
Taxation

The tax expense represents the sum of the tax currently payable and deferred tax.

Current tax

The tax currently payable is based on taxable profit for the year. Taxable profit differs from net profit as reported in the income statement because it excludes items of income or expense that are taxable or deductible in other years and it further excludes items that are never taxable or deductible. The company’s liability for current tax is calculated using tax rates that have been enacted or substantively enacted by the reporting end date.

ASSETWELL LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 30 JUNE 2025
1
Accounting policies
(Continued)
- 5 -
Deferred tax

Deferred tax liabilities are generally recognised for all timing differences and deferred tax assets are recognised to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits. Such assets and liabilities are not recognised if the timing difference arises from goodwill or from the initial recognition of other assets and liabilities in a transaction that affects neither the tax profit nor the accounting profit.

The carrying amount of deferred tax assets is reviewed at each reporting end date and reduced to the extent that it is no longer probable that sufficient taxable profits will be available to allow all or part of the asset to be recovered. Deferred tax is calculated at the tax rates that are expected to apply in the period when the liability is settled or the asset is realised. Deferred tax is charged or credited in the income statement, except when it relates to items charged or credited directly to equity, in which case the deferred tax is also dealt with in equity. Deferred tax assets and liabilities are offset when the company has a legally enforceable right to offset current tax assets and liabilities and the deferred tax assets and liabilities relate to taxes levied by the same tax authority.

1.11
Employee benefits

The costs of short-term employee benefits are recognised as a liability and an expense, unless those costs are required to be recognised as part of the cost of stock or non-current assets.

The cost of any unused holiday entitlement is recognised in the period in which the employee’s services are received.

Termination benefits are recognised immediately as an expense when the company is demonstrably committed to terminate the employment of an employee or to provide termination benefits.

1.12
Retirement benefits

The company operates a defined contribution pension scheme. The assets of the scheme are held seperately from those of the company in an independently administered fund. The amount charged against profits represents the contributions payable to the scheme in respect of the accounting period.

1.13
Leases

Rental income from operating leases is recognised on a straight line basis over the term of the relevant lease. Initial direct costs incurred in negotiating and arranging an operating lease are added to the carrying amount of the leased asset and recognised on a straight line basis over the lease term.

Rentals payable under operating leases, including any lease incentives received, are charged to profit or loss on a straight line basis over the term of the relevant lease except where another more systematic basis is more representative of the time pattern in which economic benefits from the lease s asset are consumed.

2
Judgements and key sources of estimation uncertainty

In the application of the company’s accounting policies, the directors are required to make judgements, estimates and assumptions about the carrying amount of assets and liabilities that are not readily apparent from other sources. The estimates and associated assumptions are based on historical experience and other factors that are considered to be relevant. Actual results may differ from these estimates.

The estimates and underlying assumptions are reviewed on an ongoing basis. Revisions to accounting estimates are recognised in the period in which the estimate is revised where the revision affects only that period, or in the period of the revision and future periods where the revision affects both current and future periods.

ASSETWELL LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 30 JUNE 2025
- 6 -
3
Employees

The average monthly number of persons (including directors) employed by the company during the year was:

2025
2024
Number
Number
Management and office
6
6
Yard
2
2
8
8
4
Property, plant and equipment
Land and buildings Freehold
Plant and machinery
Fixtures, fittings & equipment
Motor vehicles
Total
£
£
£
£
£
Cost
At 1 July 2024
147,967
69,514
174
164,684
382,339
Disposals
-
0
(53,469)
-
0
-
0
(53,469)
At 30 June 2025
147,967
16,045
174
164,684
328,870
Depreciation and impairment
At 1 July 2024
90,721
67,681
30
82,343
240,775
Depreciation charged in the year
2,960
708
60
41,171
44,899
Eliminated in respect of disposals
-
0
(53,469)
-
0
-
0
(53,469)
At 30 June 2025
93,681
14,920
90
123,514
232,205
Carrying amount
At 30 June 2025
54,286
1,125
84
41,170
96,665
At 30 June 2024
57,246
1,833
144
82,341
141,564
ASSETWELL LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 30 JUNE 2025
- 7 -
5
Trade and other receivables
2025
2024
Amounts falling due within one year:
£
£
Trade receivables
2,620,191
1,991,799
Other receivables
45,169
25,784
2,665,360
2,017,583
2025
2024
Amounts falling due after more than one year:
£
£
Deferred tax asset
75,115
69,163
Total debtors
2,740,475
2,086,746
6
Current liabilities
2025
2024
£
£
Bank loans and overdrafts
-
0
218,853
Trade payables
59,388
33,826
Corporation tax
559,447
320,334
Other taxation and social security
8,367
2,587
Other payables
874,523
966,236
1,501,725
1,541,836

The bank loans and overdraft are secured by a fixed and floating charge over the assets of the company.

7
Called up share capital
2025
2024
2025
2024
Ordinary share capital
Number
Number
£
£
Issued and fully paid
Ordinary A shares of £1 each
80
80
80
80
Ordinary B shares of £1 each
10
10
10
10
Ordinary C shares of £1 each
10
10
10
10
100
100
100
100
ASSETWELL LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 30 JUNE 2025
- 8 -
8
Audit report information

As the income statement has been omitted from the filing copy of the financial statements, the following information in relation to the audit report on the statutory financial statements is provided in accordance with s444(5B) of the Companies Act 2006.

The auditors' report is unqualified and includes the following:

The senior statutory auditor was Emma Dawson.
The auditor was GBAC Limited.
9
Events after the reporting date

On 3rd November 2025 the premises at Toll Bar were sold for £975,000. These premises are included in freehold land and buildings at a cost of £132,111 as at 30 June 2025. The company will continue to trade from alternative premises in a reduced capacity.

ASSETWELL LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 30 JUNE 2025
- 9 -
10
Related party transactions
Transactions with related parties

During the year the company entered into the following transactions with related parties:

Purchase of goods
2025
2024
£
£
Other related parties
20,000
20,000

The following amounts were outstanding at the reporting end date:

2025
2024
Amounts owed to related parties
£
£
Other related parties
-
112,103
11
Directors' transactions

Dividends totalling £861,960 (2024 - £725,960) were paid in the year in respect of shares held by the company's directors.

2025-06-30 2024-07-01 false false false 25 November 2025 CCH Software CCH Accounts Production 2025.300 No description of principal activity Mr I F Hepworth Mrs C M Hepworth Mrs C M Hepworth 01696956 2024-07-01 2025-06-30 01696956 2025-06-30 01696956 2024-06-30 01696956 core:LandBuildings core:OwnedOrFreeholdAssets 2025-06-30 01696956 core:PlantMachinery 2025-06-30 01696956 core:FurnitureFittings 2025-06-30 01696956 core:MotorVehicles 2025-06-30 01696956 core:LandBuildings core:OwnedOrFreeholdAssets 2024-06-30 01696956 core:PlantMachinery 2024-06-30 01696956 core:FurnitureFittings 2024-06-30 01696956 core:MotorVehicles 2024-06-30 01696956 core:CurrentFinancialInstruments core:WithinOneYear 2025-06-30 01696956 core:CurrentFinancialInstruments core:WithinOneYear 2024-06-30 01696956 core:WithinOneYear 2025-06-30 01696956 core:WithinOneYear 2024-06-30 01696956 core:CurrentFinancialInstruments 2025-06-30 01696956 core:CurrentFinancialInstruments 2024-06-30 01696956 core:ShareCapital 2025-06-30 01696956 core:ShareCapital 2024-06-30 01696956 core:RetainedEarningsAccumulatedLosses 2025-06-30 01696956 core:RetainedEarningsAccumulatedLosses 2024-06-30 01696956 core:ShareCapitalOrdinaryShareClass1 2025-06-30 01696956 core:ShareCapitalOrdinaryShareClass1 2024-06-30 01696956 core:ShareCapitalOrdinaryShareClass2 2025-06-30 01696956 core:ShareCapitalOrdinaryShareClass2 2024-06-30 01696956 core:ShareCapitalOrdinaryShareClass3 2025-06-30 01696956 core:ShareCapitalOrdinaryShareClass3 2024-06-30 01696956 core:ShareCapitalOrdinaryShares 2025-06-30 01696956 core:ShareCapitalOrdinaryShares 2024-06-30 01696956 bus:Director1 2024-07-01 2025-06-30 01696956 core:LandBuildings core:OwnedOrFreeholdAssets 2024-07-01 2025-06-30 01696956 core:PlantMachinery 2024-07-01 2025-06-30 01696956 core:FurnitureFittings 2024-07-01 2025-06-30 01696956 core:MotorVehicles 2024-07-01 2025-06-30 01696956 2023-07-01 2024-06-30 01696956 core:LandBuildings core:OwnedOrFreeholdAssets 2024-06-30 01696956 core:PlantMachinery 2024-06-30 01696956 core:FurnitureFittings 2024-06-30 01696956 core:MotorVehicles 2024-06-30 01696956 2024-06-30 01696956 core:AfterOneYear 2025-06-30 01696956 core:AfterOneYear 2024-06-30 01696956 bus:OrdinaryShareClass1 2024-07-01 2025-06-30 01696956 bus:OrdinaryShareClass2 2024-07-01 2025-06-30 01696956 bus:OrdinaryShareClass3 2024-07-01 2025-06-30 01696956 bus:OrdinaryShareClass1 2025-06-30 01696956 bus:OrdinaryShareClass1 2024-06-30 01696956 bus:OrdinaryShareClass2 2025-06-30 01696956 bus:OrdinaryShareClass2 2024-06-30 01696956 bus:OrdinaryShareClass3 2025-06-30 01696956 bus:OrdinaryShareClass3 2024-06-30 01696956 bus:AllOrdinaryShares 2025-06-30 01696956 bus:AllOrdinaryShares 2024-06-30 01696956 bus:PrivateLimitedCompanyLtd 2024-07-01 2025-06-30 01696956 bus:SmallCompaniesRegimeForAccounts 2024-07-01 2025-06-30 01696956 bus:FRS102 2024-07-01 2025-06-30 01696956 bus:Audited 2024-07-01 2025-06-30 01696956 bus:Director2 2024-07-01 2025-06-30 01696956 bus:CompanySecretary1 2024-07-01 2025-06-30 01696956 bus:FullAccounts 2024-07-01 2025-06-30 xbrli:pure xbrli:shares iso4217:GBP