Ault Investments Limited - Accounts to registrar (filleted) - small 23.2.5

REGISTERED NUMBER: 00577062 (England and Wales)

Financial Statements

for the Year Ended 31 March 2023

for

Ault Investments Limited

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

4

DIRECTORS:

K J Pheby

J F W Pheby

Mrs C S A Pheby

SECRETARY:

REGISTERED OFFICE:

Kennard Wells Solicitors

84a High Street

Epping

CM16 4AE

REGISTERED NUMBER:

00577062 (England and Wales)

ACCOUNTANTS:

Baverstocks Group Limited

140 Rayne Road

Braintree

Essex

CM7 2QR

FIXED ASSETS

Tangible assets

4

1,400

482

Investment property

5

500,000

500,000

501,400

500,482

CURRENT ASSETS

Stocks

75,376

75,376

Debtors

6

54,316

195,892

Cash at bank and in hand

2,407,004

2,319,079

2,536,696

2,590,347

CREDITORS

Amounts falling due within one year

7

147,601

138,353

NET CURRENT ASSETS

2,389,095

2,451,994

TOTAL ASSETS LESS CURRENT LIABILITIES

2,890,495

2,952,476

PROVISIONS FOR LIABILITIES

61,162

60,988

NET ASSETS

2,829,333

2,891,488

CAPITAL AND RESERVES

Called up share capital

100

100

Fair value reserve

8

259,610

259,610

Retained earnings

8

2,569,623

2,631,778

2,829,333

2,891,488

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

The members have not required the company to obtain an audit of its financial statements for the year ended 31 March 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 26 March 2024 and were signed on its behalf by:

J F W Pheby - Director

1.	STATUTORY INFORMATION

Ault Investments 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

-

33% on cost and 25% on cost

Investment property

Investment property is shown at most recent valuation. Any aggregate surplus or deficit arising from changes in fair value is recognised in profit or loss.

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 NIL (2022 - NIL).

4.	TANGIBLE FIXED ASSETS

Plant and

machinery

etc

£

COST

At 1 April 2022

2,206

Additions

1,962

At 31 March 2023

4,168

DEPRECIATION

At 1 April 2022

1,724

Charge for year

1,044

At 31 March 2023

2,768

NET BOOK VALUE

At 31 March 2023

1,400

At 31 March 2022

482

5.	INVESTMENT PROPERTY

Total

£

FAIR VALUE

At 1 April 2022

and 31 March 2023

500,000

NET BOOK VALUE

At 31 March 2023

500,000

At 31 March 2022

500,000

The investment property is shown at its fair value at the Balance Sheet date as valued by the directors. The valuation was made on a fair value basis by reference to market evidence of transaction prices for similar properties.

Fair value at 31 March 2023 is represented by:

£

Valuation in 2016

35,507

Valuation in 2018

285,000

Cost

179,493

500,000

6.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2023

2022

£

£

Trade debtors

12,819

137,475

Other debtors

41,497

58,417

54,316

195,892

7.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2023

2022

£

£

Taxation and social security

138,242

129,084

Other creditors

9,359

9,269

147,601

138,353

8.

RESERVES

Fair

Retained

value

earnings

reserve

Totals

£

£

£

At 1 April 2022

2,631,778

259,610

2,891,388

Deficit for the year

(26,155

)

(26,155

)

Dividends

(36,000

)

(36,000

)

At 31 March 2023

2,569,623

259,610

2,829,233

9.	DIRECTORS' ADVANCES, CREDITS AND GUARANTEES

The following advances and credits to a director subsisted during the years ended 31 March 2023 and 31 March 2022:

2023

2022

£

£

K J Pheby

Balance outstanding at start of year

52,621

63,121

Amounts repaid

(18,000

)

(10,500

)

Amounts written off

-

-

Amounts waived

-

-

Balance outstanding at end of year

34,621

52,621