Ashvale Contractors Limited - Accounts to registrar (filleted) - small 22.3

REGISTERED NUMBER: 06770080 (England and Wales)

Financial Statements for the Year Ended 31 December 2022

for

Ashvale Contractors Limited

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

4

DIRECTOR:

M J McNiff

REGISTERED OFFICE:

Ynysfach Yard

Taffs Well

Cardiff

CF15 7NT

REGISTERED NUMBER:

06770080 (England and Wales)

ACCOUNTANTS:

DHB Accountants Limited

Chartered Accountants

Statutory Auditors

110 Whitchurch Road

Cardiff

CF14 3LY

FIXED ASSETS

Tangible assets

4

31,662

28,859

CURRENT ASSETS

Stocks

57,561

65,361

Debtors

5

46,554

49,353

Cash at bank and in hand

90,101

74,005

194,216

188,719

CREDITORS

Amounts falling due within one year

6

88,129

87,727

NET CURRENT ASSETS

106,087

100,992

TOTAL ASSETS LESS CURRENT LIABILITIES

137,749

129,851

CREDITORS

Amounts falling due after more than one year

7

37,371

42,465

NET ASSETS

100,378

87,386

CAPITAL AND RESERVES

Called up share capital

1

1

Revaluation reserve

8

31,484

31,484

Retained earnings

68,893

55,901

SHAREHOLDERS' FUNDS

100,378

87,386

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 December 2022.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 December 2022 in accordance with Section 476 of the Companies Act 2006.

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.

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 director and authorised for issue on 27 September 2023 and were signed by:

M J McNiff - Director

1.	STATUTORY INFORMATION

Ashvale Contractors 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 as modified by the revaluation of certain assets.

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 etc

-

25% on cost

Stocks

Work in progress is valued at the lower of cost and net realisable value.

Cost is calculated using the first-in, first-out method and includes all purchase, transport, and handling costs in bringing stocks to their present location and condition.

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.

Hire purchase and leasing commitments

Assets obtained under hire purchase contracts or finance leases are capitalised in the balance sheet. Those held under hire purchase contracts are depreciated over their estimated useful lives. Those held under finance leases are depreciated over their estimated useful lives or the lease term, whichever is the shorter.

The interest element of these obligations is charged to profit or loss over the relevant period. The capital element of the future payments is treated as a liability.

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.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 3 (2021 - 3 ) .

4.	TANGIBLE FIXED ASSETS

Plant and

machinery

etc

£

COST OR VALUATION

At 1 January 2022

173,263

Additions

20,825

Disposals

(5,000

)

At 31 December 2022

189,088

DEPRECIATION

At 1 January 2022

144,404

Charge for year

14,272

Eliminated on disposal

(1,250

)

At 31 December 2022

157,426

NET BOOK VALUE

At 31 December 2022

31,662

At 31 December 2021

28,859

Cost or valuation at 31 December 2022 is represented by:

Plant and

machinery

etc

£

Valuation in 2014

189,088

If plant and machinery had not been revalued they would have been included at the following historical cost:

2022

2021

£

£

Cost

20,844

20,844

Aggregate depreciation

20,844

20,844

Plant and machinery were valued on an open market basis on 31 December 2014 by Morgan Mccabe Limited .

5.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2022

2021

£

£

Trade debtors

23,549

25,791

Other debtors

23,005

23,562

46,554

49,353

6.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2022

2021

£

£

Bank loans and overdrafts

5,018

5,018

Trade creditors

-

2

Taxation and social security

1,145

613

Other creditors

81,966

82,094

88,129

87,727

7.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

2022

2021

£

£

Bank loans

37,371

42,465

8.

RESERVES

Revaluation

reserve

£

At 1 January 2022

and 31 December 2022

31,484

9.	RELATED PARTY DISCLOSURES

Included in other debtors is an amount of £16,708 (2020 £15,256) due from companies under common control.

10.	ULTIMATE CONTROLLING PARTY

The controlling party is M J McNiff.