ASHMOAT LTD - Accounts to registrar (filleted) - small 23.2.5

REGISTERED NUMBER: 05095713 (England and Wales)

Unaudited Financial Statements

for the Year Ended 31 May 2023

for

ASHMOAT LTD

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

3

DIRECTORS:

Mr N C Cook

Mr M J R Hicks

SECRETARY:

Mr M J R Hicks

REGISTERED OFFICE:

The Old Rectory

Athelington

Suffolk

IP21 5EJ

REGISTERED NUMBER:

05095713 (England and Wales)

ACCOUNTANTS:

Turner & Ellerby

Chartered Certified Accountants

5 Church Street

Framlingham

Woodbridge

Suffolk

IP13 9BQ

FIXED ASSETS

Tangible assets

4

2,217

1,027

CURRENT ASSETS

Stocks

10,016

16,285

Debtors

5

6,448

5,123

Cash at bank

3,301

8,151

19,765

29,559

CREDITORS

Amounts falling due within one year

6

2,180

2,138

NET CURRENT ASSETS

17,585

27,421

TOTAL ASSETS LESS CURRENT LIABILITIES

19,802

28,448

CAPITAL AND RESERVES

Called up share capital

2

2

Retained earnings

19,800

28,446

SHAREHOLDERS' FUNDS

19,802

28,448

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 May 2023.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 May 2023 in accordance with Section 476 of the Companies Act 2006.

The directors acknowledge their 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 Board of Directors and authorised for issue on 7 February 2024 and were signed on its behalf by:

Mr M J R Hicks - Director

1.	STATUTORY INFORMATION

ASHMOAT LTD 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.

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

Computer equipment

-

33% on cost

Stocks

Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.

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.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 2 (2022 - 2 ) .

4.	TANGIBLE FIXED ASSETS

Plant and

Computer

machinery

equipment

Totals

£

£

£

COST

At 1 June 2022

772

9,720

10,492

Additions

-

2,298

2,298

At 31 May 2023

772

12,018

12,790

DEPRECIATION

At 1 June 2022

765

8,700

9,465

Charge for year

2

1,106

1,108

At 31 May 2023

767

9,806

10,573

NET BOOK VALUE

At 31 May 2023

5

2,212

2,217

At 31 May 2022

7

1,020

1,027

5.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2023

2022

£

£

Directors' current accounts

5,882

5,019

Tax

566

-

VAT

-

104

6,448

5,123

6.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2023

2022

£

£

Tax

-

1,038

VAT

1,080

-

Accrued expenses

1,100

1,100

2,180

2,138

7.	DIRECTORS' ADVANCES, CREDITS AND GUARANTEES

The following advances and credits to directors subsisted during the years ended 31 May 2023 and 31 May 2022:

2023

2022

£

£

Mr M J R Hicks and Mr N C Cook

Balance outstanding at start of year

5,018

4,582

Amounts advanced

5,882

5,018

Amounts repaid

(5,018

)

(4,582

)

Amounts written off

-

-

Amounts waived

-

-

Balance outstanding at end of year

5,882

5,018