ASHTREE TRADING GROUP LIMITED
Company Registration No. 11817126 (England and Wales)
UNAUDITED FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 30 JUNE 2020
PAGES FOR FILING WITH REGISTRAR
ASHTREE TRADING GROUP LIMITED
CONTENTS
Page
Balance sheet
1
Notes to the financial statements
2 - 4
ASHTREE TRADING GROUP LIMITED
BALANCE SHEET
AS AT
30 JUNE 2020
30 June 2020
- 1 -
2020
Notes
£
£
Fixed assets
Investments
3
5,000,210
Current assets
Debtors
4
1,785,111
Cash at bank and in hand
514
1,785,625
Creditors: amounts falling due within one year
5
(801,384)
Net current assets
984,241
Total assets less current liabilities
5,984,451
Capital and reserves
Called up share capital
6
6,000,452
Profit and loss reserves
(16,001)
Total equity
5,984,451
The directors of the company have elected not to include a copy of the profit and loss account within the financial statements.
true
For the financial period ended 30 June 2020 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.
T
he members have not required the company to obtain an audit of its financial statements for the period in question in accordance with section 476
.
These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.
The financial statements were approved by the board of directors and authorised for issue on 8 February 2021 and are signed on its behalf by:
Mr K W Ashworth
Director
Company Registration No. 11817126
ASHTREE TRADING GROUP LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 30 JUNE 2020
- 2 -
1
Accounting policies
Company information
Ashtree Trading Group Limited is a
private
company
limited by shares
incorporated in England and Wales.
The registered office is
1 Brassey Road, Old Potts Way, Shrewsbury, Shropshire, SY3 7FA.
1.1
Accounting convention
These financial statements have been prepared in accordance with FRS 102 “The Financial Reporting Standard applicable in the UK and Republic of Ireland” (“FRS 102”) and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime. The disclosure requirements of section 1A of FRS 102 have been applied other than where additional disclosure is required to show a true and fair view.
The financial statements are prepared in
sterling
, which is the functional currency of the company.
Monetary a
mounts
in these financial statements are
rounded to the nearest £.
The financial statements have been prepared under the historical cost convention. The principal accounting policies adopted are set out below.
1.2
Reporting period
These financial statements cover the period from 11 February 2019 to 30 June 2020. This is the first period of trading.
1.3
Fixed asset investments
Interests in subsidiaries, associates and jointly controlled entities are initially measured at cost and subsequently measured at cost less any accumulated impairment losses.
The investments are assessed for impairment at each reporting date
and
any
impairment
losses or reversals of impairment losses are recognised immediately in profit or loss.
A subsidiary is an entity controlled by the company
. Control is
the power to govern the financial and operating policies of
the
entity so as to obtain benefits from its activities.
An associate is an entity, being neither a subsidiary nor a joint venture, in which the company holds a long-term interest and where the company has significant influence. The company considers that it has significant influence where it has the power to participate in the financial and operating decisions of the associate.
Entities in which the company has a long term interest and shares control under a contractual arrangement are classified as jointly controlled entities
.
1.4
Cash and cash equivalents
Cash and cash equivalents
are basic financial assets
and
include cash in hand, deposits held at call with banks, other short-term liquid investments with original maturities of three months or less, and bank overdrafts. Bank overdrafts are shown within borrowings in current liabilities.
ASHTREE TRADING GROUP LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE PERIOD ENDED 30 JUNE 2020
1
Accounting policies
(Continued)
- 3 -
1.5
Financial instruments
The company has elected to apply the provisions of Section 11 ‘Basic Financial Instruments’ and Section 12 ‘Other Financial Instruments Issues’ of FRS 102 to all of its financial instruments.
Financial instruments are recognised in the company's balance sheet when the company becomes party to the contractual provisions of the instrument.
Financial assets and liabilities are offset
, with
the net amounts presented in the financial statements
,
when there is a legally enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously.
1.6
Equity instruments
Equity instruments issued by the company are recorded at the proceeds received, net of transaction costs. Dividends payable on equity instruments are recognised as liabilities once they are no longer at the discretion of the company.
2
Employees
The average monthly number of persons (including directors) employed by the company during the period was:
2020
Number
Total
3
Fixed asset investments
2020
£
Shares in group undertakings and participating interests
5,000,210
Movements in fixed asset investments
Shares in group undertakings
£
Cost or valuation
At 11 February 2019
-
Additions
5,000,210
At 30 June 2020
5,000,210
Carrying amount
At 30 June 2020
5,000,210
ASHTREE TRADING GROUP LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE PERIOD ENDED 30 JUNE 2020
- 4 -
4
Debtors
2020
Amounts falling due within one year:
£
Other debtors
1,785,111
5
Creditors: amounts falling due within one year
2020
£
Other creditors
801,384
6
Called up share capital
2020
£
Ordinary share capital
Issued and fully paid
1,500,226 Ordinary A Shares of £1 each
1,500,226
1,500,226 Ordinary B Shares of £1 each
1,500,226
3,000,452
Preference share capital
Issued and fully paid
3,000,000 Redeemable Preference Shares of £1 each
3,000,000
Preference shares classified as equity
3,000,000
Total equity share capital
6,000,452
All the classes of ordinary shares have the same rights.
The redeemable preference shares are non voting and receive a cumulative preferential dividend of 10%.