Ash Hire & Sales Limited - Accounts to registrar (filleted) - small 18.2

REGISTERED NUMBER: 05409379 (England and Wales)

Unaudited Financial Statements

for the Year Ended 31 December 2019

for

Ash Hire & Sales Limited

Page

Balance Sheet

1

Notes to the Financial Statements

2

CURRENT ASSETS

Debtors

5

14,266

35,266

CREDITORS

Amounts falling due within one year

6

78,163

99,722

NET CURRENT LIABILITIES

(63,897

)

(64,456

)

TOTAL ASSETS LESS CURRENT LIABILITIES

(63,897

)

(64,456

)

CAPITAL AND RESERVES

Called up share capital

100

100

Retained earnings

(63,997

)

(64,556

)

SHAREHOLDERS' FUNDS

(63,897

)

(64,456

)

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

The members have not required the company to obtain an audit of its financial statements for the year ended 31 December 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 Profit and Loss Account has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 18 August 2020 and were signed on its behalf by:

D J Hardman - Director

P M Oldham - Director

1.	STATUTORY INFORMATION

Ash Hire & Sales Limited is a private company, limited by shares , registered in England and Wales. The

company's registered number and registered office address are as below:

Registered number:

05409379

Registered office:

Bredbury Park Way

Bredbury

Stockport

Cheshire

SK6 2SN

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

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.

Goodwill

Goodwill arising on the acquisition of an entity represents the excess of the cost of acquisition over the

company's interest in the net fair value of the identifiable assets, liabilities and contingent liabilities of the

entity recognised at the date of acquisition. Goodwill is initially recognised as an asset at cost and is

subsequently measured at cost less accumulated impairment losses. Goodwill is held in the currency of the

acquired entity and revalued to the closing rate at each reporting date.

Goodwill has been amortised over its useful life of 10 years.

Intangible assets

Intangible assets are initially measured at cost. After initial recognition, intangible assets are measured at cost

less any accumulated amortisation and any accumulated impairment losses.

Taxation

Taxation for the year comprises current and deferred tax. Tax is recognised in the Profit and Loss Account,

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.

Going concern

The company ceased trading in 2016, and is currently continuing to recover the outstanding loan. The accounts

have been prepared on a going concern basis as the company continues to be supported by its ultimate parent

company, Westgate Holdings Limited.

3.	EMPLOYEES AND DIRECTORS

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

4.	INTANGIBLE FIXED ASSETS

Goodwill

£

COST

At 1 January 2019

and 31 December 2019

208,000

AMORTISATION

At 1 January 2019

and 31 December 2019

208,000

NET BOOK VALUE

At 31 December 2019

-

At 31 December 2018

-

5.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2019

2018

£

£

Other debtors

14,266

35,266

6.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2019

2018

£

£

Bank loans and overdrafts

78,163

97,462

Other creditors

-

2,260

78,163

99,722

7.	SECURED DEBTS

The following secured debts are included within creditors:

2019

2018

£

£

Bank overdrafts

78,163

97,462

There is an unlimited guarantee and debenture held over the company by it's bankers for the group overdraft

facility.

8.	ULTIMATE CONTROLLING PARTY

The controlling party is Westgate Holdings Limited.

The ultimate controlling party is P M Oldham.