ASH Life Sciences Limited - Accounts to registrar (filleted) - small 18.2

REGISTERED NUMBER: 10160574 (England and Wales)

UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MAY 2019

FOR

ASH LIFE SCIENCES LIMITED

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

4

DIRECTORS:

A Hill

Mrs S Hill

REGISTERED OFFICE:

Office 1-34

The Hive

Beaufighter Road

Weston-super-Mare

North Somerset

BS24 8EE

REGISTERED NUMBER:

10160574 (England and Wales)

ACCOUNTANTS:

Burnside

Chartered Accountants

and Statutory Auditor

61 Queen Square

Bristol

BS1 4JZ

FIXED ASSETS

Tangible assets

4

23,086

25,395

CURRENT ASSETS

Stocks

5

3,200

1,500

Debtors

6

34,965

16,354

Prepayments and accrued income

4,362

-

Cash at bank

51,061

22,949

93,588

40,803

CREDITORS

Amounts falling due within one year

7

72,211

49,131

NET CURRENT ASSETS/(LIABILITIES)

21,377

(8,328

)

TOTAL ASSETS LESS CURRENT LIABILITIES

44,463

17,067

PROVISIONS FOR LIABILITIES

8

1,589

1,424

NET ASSETS

42,874

15,643

CAPITAL AND RESERVES

Called up share capital

9

100

100

Share premium

15,000

15,000

Retained earnings

27,774

543

SHAREHOLDERS' FUNDS

42,874

15,643

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 May 2019.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 May 2019 in accordance with Section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for:

(a)	ensuring that the company keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006 and

(b)

preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of each financial year and of its profit or loss for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the company.

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 Income Statement has not been delivered.

The financial statements were approved by the Board of Directors on 17 January 2020 and were signed on its behalf by:

A Hill - Director

Mrs S Hill - Director

1.	STATUTORY INFORMATION

ASH Life Sciences 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.	ACCOUNTING POLICIES

Basis of preparing the financial statements

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 financial statements have been prepared under the historical cost convention.

The presentation currency of the financial statements is the Pound Sterling (£).

Turnover

Turnover is measured at the fair value of the consideration received or receivable, excluding

discounts, rebates, value added tax and other sales taxes.

Tangible fixed assets

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

Plant and machinery

-

15% on reducing balance

Fixtures and fittings

-

25% on reducing balance

Stocks

Stocks are valued at the lower of cost and net realisable value, after making due allowance

for obsolete and slow moving items.

Financial instruments

Financial assets and liabilities are recognised in the balance sheet when the company

becomes party to the contractual provisions of the instrument.

Trade and other debtors and creditors are classified as basic financial instruments and are

measured on initial recognition at transaction price. Debtors and creditors are subsequently

measured at amortised cost using the effective interest rate method. A provision is

established when there is objective evidence that the company may not be able to collect all

amounts due.

Cash and cash equivalents are classified as basic financial instruments and comprise cash

in hand and at bank.

Financial liabilities and equity instruments issued by the company are classified in

accordance with the substance of the contractual arrangements entered into and the

definitions of a financial liability and an equity instrument. An equity instrument is any

contract that evidences a residual interest in the assets of the company after deducting all

of its liabilities. Equity instruments issued by the company are recorded at the proceeds

received, net of any direct issue costs.

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.

Hire purchase and leasing commitments

Rentals paid under operating leases are charged to profit or loss on a straight line basis

over the period of the lease.

Pension costs and other post-retirement benefits

The company operates a defined contribution pension scheme. Contributions payable to

the company's pension scheme are charged to profit or loss in the period to which they

relate.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 3 (2018 - 2 ) .

4.	TANGIBLE FIXED ASSETS

Fixtures

Plant and

and

machinery

fittings

Totals

£

£

£

COST

At 1 June 2018

32,170

3,229

35,399

Additions

2,018

-

2,018

At 31 May 2019

34,188

3,229

37,417

DEPRECIATION

At 1 June 2018

8,927

1,077

10,004

Charge for year

3,789

538

4,327

At 31 May 2019

12,716

1,615

14,331

NET BOOK VALUE

At 31 May 2019

21,472

1,614

23,086

At 31 May 2018

23,243

2,152

25,395

5.

STOCKS

2019

2018

£

£

Stocks

3,200

1,500

6.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2019

2018

£

£

Trade debtors

34,798

16,354

Other tax and social security

167

-

34,965

16,354

7.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2019

2018

£

£

Trade creditors

2,825

298

Corporation tax

16,030

5,559

VAT

14,751

5,591

Other creditors

1,310

1,000

Directors' current accounts

35,933

35,933

Accrued expenses

1,362

750

72,211

49,131

8.	PROVISIONS FOR LIABILITIES

2019

2018

£

£

Deferred tax

Accelerated capital allowances

1,597

1,424

Other timing differences

(8

)

-

1,589

1,424

Deferred

tax

£

Balance at 1 June 2018

1,424

Provided during year

165

Balance at 31 May 2019

1,589

9.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

2019

2018

value:

£

£

80

Ordinary

£1

80

80

20

Ordinary B shares

£1

20

20

100

100

10.	RELATED PARTY DISCLOSURES

Mr A Hill

As at the year end the company owed the director £17,967 (2018 - £17,967) in respect of

funds advanced to the company. The balance is unsecured, repayable on demand and

does not attract any interest charge.

Mrs S Hill

As at the year end the company owed the director £17,966 (2018 - £17,966) in respect of

funds advanced to the company. The balance is unsecured, repayable on demand and

does not attract any interest charge.

11.	ULTIMATE CONTROLLING PARTY

The company is jointly controlled by Mr A Hill and Mrs S Hill.