Ashton Rix Limited
Ashton Rix Limited
Registered number: 09214170
Financial Statements
For The Year Ended
31 March 2020
It Adds Up Limited
Ashton Rix Limited
Financial Statements
For The Year Ended
31 March 2020
Financial Statements
| Contents | |
| Page | |
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| Balance Sheet | 1—2 |
| Notes to the Financial Statements | 3—7 |
Ashton Rix Limited
Balance Sheet
As at
31 March 2020
Balance Sheet
Registered number:
09214170
For the year ending 31 March 2020 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
| 2020 | 2019 | ||||
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| Notes | £ | £ | £ | £ | |
| FIXED ASSETS | |||||
| Intangible Assets | 3 |
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| Tangible Assets | 4 |
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| CURRENT ASSETS | |||||
| Debtors | 5 |
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| Cash at bank and in hand |
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| Creditors: Amounts Falling Due Within One Year | 6 |
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| NET CURRENT ASSETS (LIABILITIES) |
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| TOTAL ASSETS LESS CURRENT LIABILITIES |
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| Creditors: Amounts Falling Due After More Than One Year | 7 |
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| PROVISIONS FOR LIABILITIES | |||||
| Deferred Taxation |
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| NET ASSETS |
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| CAPITAL AND RESERVES | |||||
| Called up share capital | 10 |
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| Profit and Loss Account |
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| SHAREHOLDERS' FUNDS | 27,670 | 1,373 | |||
Page 1
Ashton Rix Limited
Balance Sheet (continued)
As at
31 March 2020
Directors' responsibilities:
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The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006. -
The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts. -
These accounts have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime. - The company has taken advantage of section 444(1) of the Companies Act 2006 and opted not to deliver to the registrar a copy of the company's Profit and Loss Account.
On behalf of the board
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Director
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The notes on pages 3 to 7 form part of these financial statements.
Page 2
Ashton Rix Limited
Notes to the Financial Statements
For The Year Ended
31 March 2020
Notes to the Financial Statements
1.
Accounting Policies
1.1.
Basis of Preparation of Financial Statements
The financial statements are prepared under the historical cost convention and in accordance with the FRS 102 Section 1A Small Entities - The Financial Reporting Standard applicable in the UK and Republic of Ireland and the Companies Act 2006.
1.2.
Turnover
Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover includes revenue earned from the sale of goods and from the rendering of services. Turnover is reduced for estimated customer returns, rebates and other similar allowances.
1.3.
Intangible Fixed Assets and Amortisation - Goodwill
Goodwill is the difference between amounts paid on the acquisition of a business and the fair value of the separable net assets. It is amortised to profit and loss account over its estimated economic life of 10 years.
1.4.
Tangible Fixed Assets and Depreciation
Tangible fixed assets are measured at cost less accumulated depreciation and any accumulated impairment losses. Depreciation is provided at rates calculated to write off the cost of the fixed assets, less their estimated residual value, over their expected useful lives on the following bases:
| Plant & Machinery |
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| Computer Equipment |
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1.5.
Leasing and Hire Purchase Contracts
Assets obtained under hire purchase contracts and finance leases are capitalised as tangible fixed assets. Assets acquired under finance leases are depreciated over the shorter of the lease term and their useful lives. Assets acquired under hire purchase contracts are depreciated over their useful lives. Finance leases are those where substantially all of the benefits and risks of ownership are assumed by the company. Obligations under such agreements are included in the creditors net of the finance charge allocated to future periods. The finance element of the rental payment is charged to the profit and loss account so as to produce a constant periodic rate of charge on the net obligation outstanding in each period.
Rentals applicable to operating leases where substantially all of the benefits and risks of ownership remain with the lessor are charged to profit and loss account as incurred.
Page 3
Ashton Rix Limited
Notes to the Financial Statements (continued)
For The Year Ended
31 March 2020
1.6.
Taxation
Deferred taxation 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 the tax assessments in period different from those in which they are recognised in the financial statements. Deferred taxation 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 differences.
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.
2.
Average Number of Employees
Average number of employees, including directors, during the year was as follows: 5 (2019: 6)
3.
Intangible Assets
| Goodwill | |||
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| Cost | |||
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| Amortisation | |||
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| Net Book Value | |||
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Page 4
Ashton Rix Limited
Notes to the Financial Statements (continued)
For The Year Ended
31 March 2020
4.
Tangible Assets
| Land & Property | |||||
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| Freehold | Leasehold | Plant & Machinery | Computer Equipment | Total | |
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| Additions |
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| Depreciation | |||||
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| Provided during the period |
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| Net Book Value | |||||
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5.
Debtors
| 2020 | 2019 | ||
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| £ | £ | ||
| Due within one year | |||
| Trade debtors |
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| Prepayments and accrued income |
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| Other debtors |
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| Corporation tax recoverable assets |
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| Other taxes and social security |
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| Directors' loan accounts |
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Page 5
Ashton Rix Limited
Notes to the Financial Statements (continued)
For The Year Ended
31 March 2020
6.
Creditors: Amounts Falling Due Within One Year
| 2020 | 2019 | ||
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| £ | £ | ||
| Net obligations under finance lease and hire purchase contracts |
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| Bank loans and overdrafts |
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| Corporation tax |
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| Other taxes and social security | - |
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| Accruals and deferred income |
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7.
Creditors: Amounts Falling Due After More Than One Year
| 2020 | 2019 | ||
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| £ | £ | ||
| Net obligations under finance lease and hire purchase contracts |
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| Bank loans |
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8.
Secured Creditors
Of the creditors falling due within and after more than one year the following amounts are secured.
| 2020 | 2019 | ||
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| £ | £ | ||
| Bank loans and overdrafts | 990,939 | 997,188 |
9.
Obligations Under Finance Leases and Hire Purchase
| 2020 | 2019 | ||
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| £ | £ | ||
| The maturity of these amounts is as follows: | |||
| Amounts Payable: | |||
| Within one year |
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| Between one and five years |
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Page 6
Ashton Rix Limited
Notes to the Financial Statements (continued)
For The Year Ended
31 March 2020
11.
Directors Advances, Credits and Guarantees
Included in other debtors at the year end is an amount due from the director, interest has been charged on the loan at commercial rates.
12.
General Information
Ashton Rix Limited
is a private company, limited by shares, incorporated in England & Wales, registered number
09214170
. The registered office is 133 Marlow Bottom, Marlow, SL7 3PJ.
Page 7