ASH Land Chester Limited - Accounts to registrar (filleted) - small 18.2

REGISTERED NUMBER: 10380782 (England and Wales)

AUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2021

FOR

ASH LAND CHESTER LIMITED

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

3

DIRECTORS:

N A D Hassall

J P Fray

REGISTERED OFFICE:

The Mill

Morton

Oswestry

Shropshire

SY10 8BH

REGISTERED NUMBER:

10380782 (England and Wales)

AUDITORS:

D.R.E. & Co. (Audit) Limited

6 Claremont Buildings

Claremont Bank

Shrewsbury

Shropshire

SY1 1RJ

FIXED ASSETS

Tangible assets

5

950,000

950,000

CURRENT ASSETS

Cash at bank

9,959

9,519

CREDITORS

Amounts falling due within one year

6

956,774

956,080

NET CURRENT LIABILITIES

(946,815

)

(946,561

)

TOTAL ASSETS LESS CURRENT LIABILITIES

3,185

3,439

PROVISIONS FOR LIABILITIES

7

2,066

1,437

NET ASSETS

1,119

2,002

CAPITAL AND RESERVES

Called up share capital

8

100

100

Retained earnings

1,019

1,902

SHAREHOLDERS' FUNDS

1,119

2,002

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 and authorised for issue on 6 December 2021 and were signed on its behalf by:

N A D Hassall - Director

1.	STATUTORY INFORMATION

ASH Land Chester Limited is a private company, limited by shares, incorporated and registered in England and Wales. The company's registered number and registered office can be found on the Company Information page.

The principal place of business is Unit 16 Wilkinson Court, Clywedog Road South, Wrexham Industrial Estate, Wrexham, LL13 9AE.

2.	STATEMENT OF COMPLIANCE

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.

3.	ACCOUNTING POLICIES

Basis of preparing the financial statements

The financial statements have been prepared under the historical cost convention.

The financial statements are for the individual entity only.

The financial statements are presented in sterling (£), rounded to the nearest £1.

At the balance sheet date the company had net current liabilities of £946,815 (2020: £946,561). As shown in the creditors due within one year note, there are amounts owed to group companies of £952,194 (2020: £951,511). The directors have reviewed the support of group companies and fully expect it to continue for the foreseeable future and have therefore prepared the financial statements on a going concern basis.

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

Tangible fixed assets are stated at historic cost less accumulated depreciation. Costs include original purchase price of the asset and the costs attributable to bringing the asset to its working condition for its intended use.

Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life:

Freehold property

-

Not provided

No depreciation has been provided in respect of the the company's freehold property on the grounds that the charge would be immaterial due to the anticipated residual value. The directors consider that this accounting policy which represents a departure from Companies Act 2006 is necessary for the financial statements to show a true and fair view.

Financial instruments

The company has chosen to adopt Sections 11 and 12 of FRS 102 in respect of financial instruments.

(i) Financial assets

Basic financial assets, including cash and bank balances, are initially recognised at transaction price and subsequently carried at amortised cost with an assessment for objective evidence of impairment. Any impairment is recognised in profit or loss.

Financial assets are derecognised when (a) the contractual rights to the cash flows from the asset expire or are settled, or (b) substantially all the risks and rewards or control of the ownership of the asset are transferred to another party.

(ii) Financial liabilities

Basic financial liabilities, including bank overdrafts and amounts owed to group companies, are initially recognised at transaction price and subsequently carried at amortised cost.

Financial liabilities are derecognised when the liability is extinguished, that is when the contractual obligation is discharged, cancelled or expires.

Taxation

Taxation for the year 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 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.

4.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 2 (2020 - 2 ) .

5.	TANGIBLE FIXED ASSETS

Freehold

property

£

COST

At 1 April 2020

and 31 March 2021

950,000

NET BOOK VALUE

At 31 March 2021

950,000

At 31 March 2020

950,000

6.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.3.21

31.3.20

£

£

Amounts owed to group undertakings

952,194

951,511

Tax

4,580

4,569

956,774

956,080

7.	PROVISIONS FOR LIABILITIES

31.3.21

31.3.20

£

£

Deferred tax

2,066

1,437

Deferred

tax

£

Balance at 1 April 2020

1,437

Charge to Income Statement during year

629

Balance at 31 March 2021

2,066

8.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

31.3.21

31.3.20

value:

£

£

100

ordinary

£1

100

100

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

The Report of the Auditors was unqualified.

Francis Nock F.C.C.A. (Senior Statutory Auditor)

for and on behalf of D.R.E. & Co. (Audit) Limited

10.	CONTINGENT LIABILITIES

During a prior year the company entered into a Composite Accounting Agreement with its parent company and fellow subsidiaries. Under the terms of the agreement and the guarantees given, the bank is authorised to allow set-off for interest purposes and in certain circumstances offset bank balances against liabilities within the Composite Accounting System. There was no contingent liability for the company at 31 March 2021 or 31 March 2020.

During a prior year the company entered into a cross guarantee and debenture with its parent company and fellow subsidiaries to secure liabilities owed to Barclays Bank Plc in respect of working capital facilities.

The contingent liability for the company at 31 March 2021 in respect of group bank borrowings amounted to £nil (2020: £988,452).

The contingent liability for the company at 31 March 2021 in respect of group working capital facilities amounted to £nil (2020: £824,855).

11.	RELATED PARTY DISCLOSURES

12.	ULTIMATE CONTROLLING PARTY

The ultimate controlling party is LAF Holdings Limited, a company registered in England and Wales.