Company registration number 01468514 (England and Wales)
ASHRIDGE ENGINEERING LIMITED
FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MAY 2025
PAGES FOR FILING WITH REGISTRAR
ASHRIDGE ENGINEERING LIMITED
CONTENTS
Page
Balance sheet
1
Notes to the financial statements
2 - 9
ASHRIDGE ENGINEERING LIMITED
BALANCE SHEET
AS AT 31 MAY 2025
31 May 2025
- 1 -
2025
2024
Notes
£
£
£
£
Fixed assets
Tangible assets
3
569,965
563,842
Investments
4
100
100
570,065
563,942
Current assets
Stocks
407,914
306,126
Debtors
6
702,962
398,576
Cash at bank and in hand
303,062
231,358
1,413,938
936,060
Creditors: amounts falling due within one year
7
(896,614)
(807,679)
Net current assets
517,324
128,381
Total assets less current liabilities
1,087,389
692,323
Creditors: amounts falling due after more than one year
8
(562,503)
(488,758)
Provisions for liabilities
(13,826)
(8,964)
Net assets
511,060
194,601
Capital and reserves
Called up share capital
11
51
51
Capital redemption reserve
49
49
Profit and loss reserves
510,960
194,501
Total equity
511,060
194,601

The directors of the company have elected not to include a copy of the profit and loss account within the financial statements.true

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

The financial statements were approved by the board of directors and authorised for issue on 9 March 2026 and are signed on its behalf by:
R Wyatt
P Ellison
Director
Director
Company Registration No. 01468514
ASHRIDGE ENGINEERING LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MAY 2025
- 2 -
1
Accounting policies
Company information

Ashridge Engineering Limited is a private company limited by shares incorporated in England and Wales. The registered office is Seiche Group, Bradworthy Industrial Estate, Langdon Road, Bradworthy, Devon, United Kingdom, EX22 7SF.

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.

The company has taken advantage of the exemption under section 400 of the Companies Act 2006 not to prepare consolidated accounts. The financial statements present information about the company as an individual entity and not about its group.

Ashridge Engineering Limited is a wholly owned subsidiary of Seiche Water Group Technology Ltd and the results of Ashridge Engineering Limited are included in the consolidated financial statements of Seiche Water Group Technology Ltd which are available from Bradworthy Industrial Estate Langdon Road, Bradworthy, Holsworthy, Devon, United Kingdom, EX22 7SF.

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
Turnover

Turnover is recognised at the fair value of the consideration received or receivable for goods and services provided in the normal course of business, and is shown net of VAT and other sales related taxes. The fair value of consideration takes into account trade discounts, settlement discounts and volume rebates.

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.

Revenue from contracts for the provision of professional services is recognised by reference to the stage of completion when the stage of completion, costs incurred and costs to complete can be estimated reliably. The stage of completion is calculated by comparing costs incurred, mainly in relation to contractual hourly staff rates and materials, as a proportion of total costs. Where the outcome cannot be estimated reliably, revenue is recognised only to the extent of the expenses recognised that it is probable will be recover ed.

1.4
Research and development expenditure

Research and development expenditure is written off against profits in the year in which it is incurred.

ASHRIDGE ENGINEERING LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MAY 2025
1
Accounting policies
(Continued)
- 3 -
1.5
Tangible fixed assets

Tangible fixed assets are initially measured at cost and subsequently measured at cost, net of depreciation and any impairment losses.

Depreciation is recognised so as to write off the cost of assets less their residual values over their useful lives on the following bases:

Freehold property
2% on cost of buildings only
Plant and machinery
20%, 25% or 33% on cost

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.

1.6
Fixed asset investments

Interests in subsidiaries are initially measured at cost and subsequently measured at cost less any accumulated impairment losses. The investments are assessed for impairment at each reporting date and any impairment losses or reversals of impairment losses are recognised immediately in profit or loss.

A subsidiary is an entity controlled by the company. Control is the power to govern the financial and operating policies of the entity so as to obtain benefits from its activities.

1.7
Impairment of fixed 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.

1.8
Stocks

Stocks 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 stocks to their present location and condition.

Stocks held for distribution at no or nominal consideration are measured at the lower of cost and replacement cost, adjusted where applicable for any loss of service potential.

ASHRIDGE ENGINEERING LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MAY 2025
1
Accounting policies
(Continued)
- 4 -

At each reporting date, an assessment is made for impairment. Any excess of the carrying amount of stocks 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.

1.9
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.

1.10
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 balance sheet 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.

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.

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 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 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 creditors 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 creditors are recognised initially at transaction price and subsequently measured at amortised cost using the effective interest method.

1.11
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.

1.12
Taxation

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

ASHRIDGE ENGINEERING LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MAY 2025
1
Accounting policies
(Continued)
- 5 -
Current tax

The tax currently payable is based on taxable profit for the year. Taxable profit differs from net profit as reported in the profit and loss account 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.

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 profit and loss account, 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.

1.13
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 fixed 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.

1.14
Retirement benefits

The company operates a defined contribution pension plan for its employees. Contributions are recognised as an expense when they fall due. Amounts due but not yet paid are included within creditors on the balance sheet. The assets of the plan are held separately from the company in independently administered funds. Once contributions to the pension fund have been paid, there is no further obligation to the company.

1.15
Foreign exchange

Transactions in currencies other than pounds sterling are recorded at the rates of exchange prevailing at the dates of the transactions. At each reporting end date, monetary assets and liabilities that are denominated in foreign currencies are retranslated at the rates prevailing on the reporting end date. Gains and losses arising on translation in the period are included in profit or loss.

ASHRIDGE ENGINEERING LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MAY 2025
- 6 -
2
Employees

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

2025
2024
Number
Number
Total
15
12
3
Tangible fixed assets
Freehold property
Plant and machinery
Total
£
£
£
Cost
At 1 June 2024
614,292
418,100
1,032,392
Additions
-
0
56,189
56,189
At 31 May 2025
614,292
474,289
1,088,581
Depreciation and impairment
At 1 June 2024
116,465
352,085
468,550
Depreciation charged in the year
9,286
40,780
50,066
At 31 May 2025
125,751
392,865
518,616
Carrying amount
At 31 May 2025
488,541
81,424
569,965
At 31 May 2024
497,827
66,015
563,842
4
Fixed asset investments
2025
2024
£
£
Shares in group undertakings and participating interests
100
100
5
Subsidiaries

Details of the company's subsidiaries at 31 May 2025 are as follows:

Name of undertaking
Registered office
Class of
% Held
shares held
Direct
Ashridge Monitoring Limited
England
Ordinary
100.00
ASHRIDGE ENGINEERING LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MAY 2025
- 7 -
6
Debtors
2025
2024
Amounts falling due within one year:
£
£
Trade debtors
326,189
330,709
Amounts owed by group undertakings
286,819
578
Prepayments and accrued income
89,954
67,289
702,962
398,576
7
Creditors: amounts falling due within one year
2025
2024
£
£
Bank loans
9
19,695
24,628
Trade creditors
257,378
84,922
Amounts owed to group undertakings
158,387
515,044
Taxation and social security
46,184
51,466
Deferred income
347,746
95,867
Accruals
67,224
35,752
896,614
807,679

Amounts owed to group undertakings are repayable on demand and interest is charged at 2.5% over bank base rate per annum in accordance with inter-group loan agreements.

8
Creditors: amounts falling due after more than one year
2025
2024
Notes
£
£
Bank loans and overdrafts
9
123,379
137,904
Deferred income
439,124
350,854
562,503
488,758
Amounts included above which fall due after five years are as follows:
Payable by instalments
33,698
59,233
ASHRIDGE ENGINEERING LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MAY 2025
- 8 -
9
Loans and overdrafts
2025
2024
£
£
Bank loans
143,074
162,532
Payable within one year
19,695
24,628
Payable after one year
123,379
137,904

Bank loans are secured by a first legal charge over the company's freehold property, and a fixed charge over all fixed assets in that property.

The loan expires in November 2031 and interest is charged at 3.02% over base rate.

10
Deferred taxation

The following are the major deferred tax liabilities and assets recognised by the company and movements thereon:

Liabilities
Liabilities
2025
2024
Balances:
£
£
Accelerated capital allowances
14,426
9,432
Other short term differences
(600)
(468)
13,826
8,964
2025
Movements in the year:
£
Liability at 1 June 2024
8,964
Charge to profit or loss
4,862
Liability at 31 May 2025
13,826
11
Called up share capital
2025
2024
2025
2024
Ordinary share capital
Number
Number
£
£
Issued and fully paid
Ordinary shares of 1p each
5,100
5,100
51
51
ASHRIDGE ENGINEERING LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MAY 2025
- 9 -
12
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 auditor's report was unqualified.

Senior Statutory Auditor:
Matthew Webb FCA
Statutory Auditor:
Azets Audit Services
13
Financial commitments, guarantees and contingent liabilities

The company has given a guarantee in respect of bank borrowings of a fellow subsidiary which amounted to £274,123 at 31 March 2025 (2024: £93,500). The guarantee is secured by a charge on the company’s freehold property.

14
Operating lease commitments

At the reporting end date the company had outstanding commitments for future minimum lease payments under non-cancellable operating leases, as follows:

2025
2024
£
£
Within one year
9,955
1,136
Between two and five years
22,873
-
0
32,828
1,136
15
Related party transactions

At the balance sheet date the company was owed £nil (202 4 - £532) by Autonaut Limited, which is a non-wholly owned subsidiary of the group. The loan is subject to an unsecured loan agreement charging interest at a rate of 2.5% over bank base rate. Interest charged to Autonaut Limited during the year amounted to £24 (202 4 - £19).

16
Ultimate Controlling Party

The parent company is Seiche Water Technology Group Ltd. Copies of the group accounts can be obtained from its registered office at Bradworthy Industrial Estate, Langdon Road, Bradworthy, Holsworthy, Devon, EX22 7SF.

The ultimate controlling party is Mr & Mrs R Wyatt, who hold in equal number the whole of the share capital of the parent company, Seiche Water Technology Group Ltd.

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