Ainscough Limited - Accounts to registrar (filleted) - small 22.3

REGISTERED NUMBER: 03324481 (England and Wales)

Financial Statements

for the Year Ended 31 March 2022

for

AINSCOUGH LIMITED

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

4

Director:

Mr S J Ainscough

Registered office:

Steelpoint

Staveley Road

Skelmersdale

Lancashire

WN8 8DZ

Registered number:

03324481 (England and Wales)

Auditors:

NR Barton Limited

1st Floor Waterside House

Waterside Drive

Wigan

Lancashire

WN3 5AZ

FIXED ASSETS

Tangible assets

4

561,033

581,380

Investments

5

1

1

561,034

581,381

CURRENT ASSETS

Stocks

820,167

812,540

Debtors

6

842,436

770,235

Cash at bank and in hand

3,935,165

2,399,836

5,597,768

3,982,611

CREDITORS

Amounts falling due within one year

7

1,441,087

1,285,965

NET CURRENT ASSETS

4,156,681

2,696,646

TOTAL ASSETS LESS CURRENT LIABILITIES

4,717,715

3,278,027

PROVISIONS FOR LIABILITIES

8

91,381

110,462

NET ASSETS

4,626,334

3,167,565

CAPITAL AND RESERVES

Called up share capital

9

333,831

333,831

Capital redemption reserve

167,501

167,501

Retained earnings

4,125,002

2,666,233

SHAREHOLDERS' FUNDS

4,626,334

3,167,565

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 Statement of Income and Retained Earnings has not been delivered.

The financial statements were approved by the director and authorised for issue on 16 December 2022 and were signed by:

Mr S J Ainscough - Director

1.	STATUTORY INFORMATION

Ainscough 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.

Preparation of consolidated financial statements

The financial statements contain information about Ainscough Limited as an individual company and do not contain consolidated financial information as the parent of a group. The company is exempt under Section 399(2A) of the Companies Act 2006 from the requirements to prepare consolidated financial statements.

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

-

25% on reducing balance

Fixtures and fittings

-

33% on reducing balance

Motor vehicles

-

25% on reducing balance

Investments in subsidiaries

Investments in subsidiary undertakings are recognised at cost.

Stocks

Stocks are valued at the lower of cost and net realisable value. A provision is made for slow moving items covering the length of time they have been in stock and the provision is limited to the scrap value which accounts for potential obsolete items.

Taxation

Taxation for the year comprises current and deferred tax. Tax is recognised in the Statement of Income and Retained Earnings, 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.

Foreign currencies

Monetary assets and liabilities denominated in foreign currencies are translated into sterling at the rates of exchange prevailing at the accounting date. Transactions in foreign currencies are recorded at the date of the transactions. All difference are taken to the Profit and Loss account.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 22 (2021 - 22 ) .

4.	TANGIBLE FIXED ASSETS

Fixtures

Plant and

and

Motor

machinery

fittings

vehicles

Totals

£

£

£

£

COST

At 1 April 2021

1,136,860

69,698

579,744

1,786,302

Additions

7,500

-

162,194

169,694

Disposals

(81,851

)

-

(16,882

)

(98,733

)

At 31 March 2022

1,062,509

69,698

725,056

1,857,263

DEPRECIATION

At 1 April 2021

893,638

67,283

244,001

1,204,922

Charge for year

61,590

797

87,259

149,646

Eliminated on disposal

(53,856

)

-

(4,482

)

(58,338

)

At 31 March 2022

901,372

68,080

326,778

1,296,230

NET BOOK VALUE

At 31 March 2022

161,137

1,618

398,278

561,033

At 31 March 2021

243,222

2,415

335,743

581,380

5.	FIXED ASSET INVESTMENTS

Shares in

group

undertakings

£

COST

At 1 April 2021

and 31 March 2022

1

NET BOOK VALUE

At 31 March 2022

1

At 31 March 2021

1

6.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.3.22

31.3.21

£

£

Trade debtors

363,759

352,003

Other debtors

478,677

418,232

842,436

770,235

7.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.3.22

31.3.21

£

£

Trade creditors

554,510

439,670

Taxation and social security

476,512

135,314

Other creditors

410,065

710,981

1,441,087

1,285,965

There exists a fixed and floating charge over all present and future fixed assets of the company, in favour of Natwest Bank Plc.

8.	PROVISIONS FOR LIABILITIES

31.3.22

31.3.21

£

£

Deferred tax

Accelerated capital allowances

91,381

110,462

Deferred

tax

£

Balance at 1 April 2021

110,462

Provided during year

(19,081

)

Balance at 31 March 2022

91,381

9.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

31.3.22

31.3.21

value:

£

£

333,831

Ordinary

£1

333,831

333,831

10.	DISCLOSURE UNDER SECTION 444(5B) OF THE COMPANIES ACT 2006

The Report of the Auditors was unqualified.

Catherine Rogers BSc FCA (Senior Statutory Auditor)

for and on behalf of NR Barton Limited