Ashwell Biomass Limited - Accounts to registrar (filleted) - small 18.2

REGISTERED NUMBER: 02677510 (England and Wales)

Unaudited Financial Statements

for the Period 1 April 2018 to 30 March 2019

for

Ashwell Biomass Limited

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

4

DIRECTORS:

R B West

Ms Y M A Chu

D G Coyne

SECRETARY:

R B West

REGISTERED OFFICE:

Unit 12, 35 Pinfold Road

Thurmaston

Leicester

Leicestershire

LE4 8AT

REGISTERED NUMBER:

02677510 (England and Wales)

ACCOUNTANTS:

Clayton & Brewill

Chartered Accountants

Cawley House

149-155 Canal Street

Nottingham

Nottinghamshire

NG1 7HR

FIXED ASSETS

Tangible assets

4

11,568

30,660

CURRENT ASSETS

Stocks

157,580

207,046

Debtors

5

875,306

840,056

Cash at bank and in hand

458

106,841

1,033,344

1,153,943

CREDITORS

Amounts falling due within one year

6

608,904

637,053

NET CURRENT ASSETS

424,440

516,890

TOTAL ASSETS LESS CURRENT LIABILITIES

436,008

547,550

CREDITORS

Amounts falling due after more than one year

7

26,165

68,950

NET ASSETS

409,843

478,600

CAPITAL AND RESERVES

Called up share capital

19,320

19,320

Share premium

84,034

84,034

Capital redemption reserve

35

35

Retained earnings

306,454

375,211

SHAREHOLDERS' FUNDS

409,843

478,600

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the period ended 30 March 2019.

The members have not required the company to obtain an audit of its financial statements for the period ended 30 March 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 24 March 2020 and were signed on its behalf by:

Ms Y M A Chu - Director

1.	STATUTORY INFORMATION

Ashwell Biomass 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.

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

-

20% on cost

Fixtures and fittings

-

20% on cost

Motor vehicles

-

20% on cost

Stocks

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

obsolete and slow moving items.

Taxation

Taxation for the period 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 period 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

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.

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 period was NIL (2018 - 27 ).

4.	TANGIBLE FIXED ASSETS

Fixtures

Plant and

and

Motor

machinery

fittings

vehicles

Totals

£

£

£

£

COST

At 1 April 2018

130,307

67,333

71,982

269,622

Additions

1,496

569

-

2,065

Disposals

-

-

(45,591

)

(45,591

)

At 30 March 2019

131,803

67,902

26,391

226,096

DEPRECIATION

At 1 April 2018

126,406

54,012

58,544

238,962

Charge for period

2,622

5,781

5,060

13,463

Eliminated on disposal

-

-

(37,897

)

(37,897

)

At 30 March 2019

129,028

59,793

25,707

214,528

NET BOOK VALUE

At 30 March 2019

2,775

8,109

684

11,568

At 31 March 2018

3,901

13,321

13,438

30,660

5.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2019

2018

£

£

Trade debtors

237,758

371,731

Other debtors

2,300

2,500

Inter company

182,015

210,365

Directors' current accounts

5,694

5,594

Prepayments and accrued income

445,721

240,872

Prepayments

1,818

8,994

875,306

840,056

6.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2019

2018

£

£

Bank loans and overdrafts

107,457

55,018

Trade creditors

273,389

246,942

Social security and other taxes

83,175

185,002

Other creditors

3,192

2,386

Directors' current accounts

6,083

6,083

Accrued expenses

135,608

141,622

608,904

637,053

7.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

2019

2018

£

£

Bank loans - 1-2 years

26,165

42,779

Bank loans - 2-5 years

-

26,171

26,165

68,950

8.	SECURED DEBTS

The following secured debts are included within creditors:

2019

2018

£

£

Bank overdraft

58,697

-

Bank loans

74,925

123,968

133,622

123,968