Paul Ashby Developments Limited
Paul Ashby Developments Limited
Registered number: 04515112
Financial Statements
For The Year Ended 31 August 2023
Grugeon Reynolds Ltd
Adams & Moore House
Instone Road
Dartford
DA1 2AG
Paul Ashby Developments Limited
Financial Statements
For The Year Ended 31 August 2023
Financial Statements
Contents | |
Page | |
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Balance Sheet | 1—2 |
Notes to the Financial Statements | 3—6 |
Paul Ashby Developments Limited
Balance Sheet
As At
31 August 2023
Balance Sheet
Registered number:
04515112
For the year ending 31 August 2023 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
These accounts have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime.
The company has taken advantage of section 444(1) of the Companies Act 2006 and opted not to deliver to the registrar a copy of the company's Profit and Loss Account.
2023 | 2022 | ||||
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Notes | £ | £ | £ | £ | |
FIXED ASSETS | |||||
Tangible Assets | 3 |
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Investments | 4 |
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CURRENT ASSETS | |||||
Stocks | 5 |
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Debtors | 6 |
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Cash at bank and in hand |
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Creditors: Amounts Falling Due Within One Year | 7 |
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NET CURRENT ASSETS (LIABILITIES) |
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TOTAL ASSETS LESS CURRENT LIABILITIES |
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Creditors: Amounts Falling Due After More Than One Year | 8 |
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PROVISIONS FOR LIABILITIES | |||||
Deferred Taxation |
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NET ASSETS |
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CAPITAL AND RESERVES | |||||
Called up share capital | 10 |
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Revaluation reserve | 11 |
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Profit and Loss Account |
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SHAREHOLDERS' FUNDS | 202,898 | 161,381 | |||
Paul Ashby Developments Limited
Balance Sheet (continued)
As At
31 August 2023
On behalf of the board
Director
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The notes on pages 3 to 6 form part of these financial statements.
Paul Ashby Developments Limited
Notes to the Financial Statements
For The Year Ended 31 August 2023
Notes to the Financial Statements
1.
Accounting Policies
1.1.
Basis of Preparation of Financial Statements
The financial statements have been prepared under the historical cost convention and in accordance with Financial Reporting Standard 102 section 1A Small Entities "The Financial Reporting Standard applicable in the UK and Republic of Ireland" and the Companies Act 2006.
1.2.
Turnover
Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover includes revenue earned from the sale of goods and from the rendering of services. Turnover is reduced for estimated customer returns, rebates and other similar allowances.
Sale of goods
Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods has transferred to the buyer. This is usually at the point that the customer has signed for the delivery of the goods.
Rendering of services
Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs. Turnover is only recognised to the extent of recoverable expenses when the outcome of a contract cannot be estimated reliably.
1.3.
Tangible Fixed Assets and Depreciation
Tangible fixed assets are measured at cost less accumulated depreciation and any accumulated impairment losses. Depreciation is provided at rates calculated to write off the cost of the fixed assets, less their estimated residual value, over their expected useful lives on the following bases:
Freehold |
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Leasehold |
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Plant & Machinery |
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Fixtures & Fittings |
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Computer Equipment |
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1.4.
Leasing and Hire Purchase Contracts
Assets obtained under finance leases are capitalised as tangible fixed assets. Assets acquired under finance leases are depreciated over the shorter of the lease term and their useful lives. Assets acquired under hire purchase contracts are depreciated over their useful lives. Finance leases are those where substantially all of the benefits and risks of ownership are assumed by the company. Obligations under such agreements are included in the creditors net of the finance charge allocated to future periods. The finance element of the rental payment is charged to the profit and loss account so as to produce a constant periodic rate of charge on the net obligation outstanding in each period.
Rentals applicable to operating leases where substantially all of the benefits and risks of ownership remain with the lessor are charged to profit and loss account as incurred.
1.5.
Stocks and Work in Progress
Stocks and work in progress are valued at the lower of cost and net realisable value after making due allowance for obsolete and slow-moving stocks. Cost includes all direct costs and an appropriate proportion of fixed and variable overheads. Work-in-progress is reflected in the accounts on a contract by contract basis by recording turnover and related costs as contract activity progresses.
2.
Average Number of Employees
Average number of employees, including directors, during the year was as follows: 2 (2022: 3)
Paul Ashby Developments Limited
Notes to the Financial Statements (continued)
For The Year Ended 31 August 2023
3.
Tangible Assets
Land & Property | |||||
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Freehold | Plant & Machinery | Fixtures & Fittings | Computer Equipment | Total | |
£ | £ | £ | £ | £ | |
Cost | |||||
As at 1 September 2022 |
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Additions |
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As at 31 August 2023 |
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Depreciation | |||||
As at 1 September 2022 |
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Provided during the period |
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As at 31 August 2023 |
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Net Book Value | |||||
As at 31 August 2023 |
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As at 1 September 2022 |
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4.
Investments
Unlisted | |
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Cost | |
As at 1 September 2022 |
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As at 31 August 2023 |
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Provision | |
As at 1 September 2022 |
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As at 31 August 2023 |
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Net Book Value | |
As at 31 August 2023 |
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As at 1 September 2022 |
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5.
Stocks
2023 | 2022 | ||
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£ | £ | ||
Work in progress |
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Paul Ashby Developments Limited
Notes to the Financial Statements (continued)
For The Year Ended 31 August 2023
6.
Debtors
2023 | 2022 | ||
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£ | £ | ||
Due within one year | |||
Trade debtors |
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Prepayments and accrued income |
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Other debtors |
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Other debtors-Recharges |
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VAT |
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Other taxes and social security |
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Net wages | - | 5,558 | |
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7.
Creditors: Amounts Falling Due Within One Year
2023 | 2022 | ||
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£ | £ | ||
Trade creditors |
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Bank loans and overdrafts |
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Corporation tax |
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Other taxes and social security | - |
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Other creditors' | - |
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Accruals and deferred income |
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Directors' loan accounts |
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Intercompany-Ashbryne home |
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8.
Creditors: Amounts Falling Due After More Than One Year
2023 | 2022 | ||
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£ | £ | ||
Net obligations under finance lease and hire purchase contracts |
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Bank loans |
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9.
Obligations Under Finance Leases and Hire Purchase
2023 | 2022 | ||
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£ | £ | ||
The maturity of these amounts is as follows: | |||
Between one and five years |
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Paul Ashby Developments Limited
Notes to the Financial Statements (continued)
For The Year Ended 31 August 2023
11.
Reserves
Revaluation Reserve | |
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£ | |
As at 1 September 2022 |
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As at 31 August 2023 |
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12.
General Information
Paul Ashby Developments Limited
is a private company, limited by shares, incorporated in England & Wales, registered number
04515112
. The registered office is 19 Julian Road, Orpington, BR6 6HT.