Ash Hire & Sales Limited - Accounts to registrar (filleted) - small 18.2
Ash Hire & Sales Limited - Accounts to registrar (filleted) - small 18.2
REGISTERED NUMBER: |
Unaudited Financial Statements |
for the Year Ended 31 December 2020 |
for |
Ash Hire & Sales Limited |
Ash Hire & Sales Limited (Registered number: 05409379) |
Contents of the Financial Statements |
for the Year Ended 31 December 2020 |
Page |
Balance Sheet | 1 |
Notes to the Financial Statements | 2 |
Ash Hire & Sales Limited (Registered number: 05409379) |
Balance Sheet |
31 December 2020 |
2020 | 2019 |
Notes | £ | £ |
CURRENT ASSETS |
Debtors | 5 |
CREDITORS |
Amounts falling due within one year | 6 |
NET CURRENT LIABILITIES | ( |
) | ( |
) |
TOTAL ASSETS LESS CURRENT LIABILITIES | ( |
) | ( |
) |
CAPITAL AND RESERVES |
Called up share capital |
Retained earnings | ( |
) | ( |
) |
SHAREHOLDERS' FUNDS | ( |
) | ( |
) |
The director acknowledges his 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. |
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 director and authorised for issue on |
Ash Hire & Sales Limited (Registered number: 05409379) |
Notes to the Financial Statements |
for the Year Ended 31 December 2020 |
1. | STATUTORY INFORMATION |
Ash Hire & Sales Limited is a |
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 |
After making enquiries, the directors have a reasonable expectation that the company has adequate resources to continue in operational existence for the foreseeable future, being the 12 month period from the date of these accounts being approved, given the impact of the Coronavirus upon the economy and therefore the financial statements have been prepared on a going concern basis. |
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. |
Ash Hire & Sales Limited (Registered number: 05409379) |
Notes to the Financial Statements - continued |
for the Year Ended 31 December 2020 |
2. | ACCOUNTING POLICIES - continued |
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 |
4. | INTANGIBLE FIXED ASSETS |
Goodwill |
£ |
COST |
At 1 January 2020 |
and 31 December 2020 |
AMORTISATION |
At 1 January 2020 |
and 31 December 2020 |
NET BOOK VALUE |
At 31 December 2020 |
At 31 December 2019 |
5. | DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
2020 | 2019 |
£ | £ |
Other debtors |
6. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
2020 | 2019 |
£ | £ |
Bank loans and overdrafts |
Amounts owed to group undertakings |
Ash Hire & Sales Limited (Registered number: 05409379) |
Notes to the Financial Statements - continued |
for the Year Ended 31 December 2020 |
7. | SECURED DEBTS |
The following secured debts are included within creditors: |
2020 | 2019 |
£ | £ |
Bank overdraft |
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 |