REGISTERED NUMBER:
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UNAUDITED FINANCIAL STATEMENTS |
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FOR THE YEAR ENDED 31 MAY 2021 |
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ASHTON JIG AND TOOL COMPANY LIMITED |
REGISTERED NUMBER:
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UNAUDITED FINANCIAL STATEMENTS |
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FOR THE YEAR ENDED 31 MAY 2021 |
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FOR |
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ASHTON JIG AND TOOL COMPANY LIMITED |
ASHTON JIG AND TOOL COMPANY LIMITED (REGISTERED NUMBER: 00604021) |
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CONTENTS OF THE FINANCIAL STATEMENTS |
for the Year Ended 31 May 2021 |
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Company Information | 1 |
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Abridged Balance Sheet | 2 |
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Notes to the Financial Statements | 4 |
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ASHTON JIG AND TOOL COMPANY LIMITED |
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COMPANY INFORMATION |
for the Year Ended 31 May 2021 |
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DIRECTORS: |
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SECRETARY: |
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REGISTERED OFFICE: |
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REGISTERED NUMBER: |
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ACCOUNTANTS: |
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Chartered Accountants |
3 Mellor Road |
Cheadle Hulme |
Cheadle |
Cheshire |
SK8 5AT |
ASHTON JIG AND TOOL COMPANY LIMITED (REGISTERED NUMBER: 00604021) |
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ABRIDGED BALANCE SHEET |
31 May 2021 |
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2021 | 2020 |
Notes | £ | £ |
FIXED ASSETS |
Intangible assets | 4 |
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Tangible assets | 5 |
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CURRENT ASSETS |
Stocks |
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Debtors |
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Cash at bank and in hand |
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CREDITORS |
Amounts falling due within one year | ( |
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NET CURRENT ASSETS |
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TOTAL ASSETS LESS CURRENT
LIABILITIES |
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CREDITORS |
Amounts falling due after more than one
year |
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PROVISIONS FOR LIABILITIES | ( |
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NET ASSETS |
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CAPITAL AND RESERVES |
Called up share capital |
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Revaluation reserve | 6 |
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Capital redemption reserve |
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Retained earnings |
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SHAREHOLDERS' FUNDS |
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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. |
ASHTON JIG AND TOOL COMPANY LIMITED (REGISTERED NUMBER: 00604021) |
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ABRIDGED BALANCE SHEET - continued |
31 May 2021 |
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In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered. |
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The financial statements were approved by the Board of Directors and authorised for issue on
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ASHTON JIG AND TOOL COMPANY LIMITED (REGISTERED NUMBER: 00604021) |
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NOTES TO THE FINANCIAL STATEMENTS |
for the Year Ended 31 May 2021 |
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1. | STATUTORY INFORMATION |
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Ashton Jig And Tool Company Limited is a
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2. | ACCOUNTING POLICIES |
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Basis of preparing the financial statements |
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Turnover |
Turnover represents amounts receivable for goods and services net of VAT and trade discounts and is recognised at the point that goods are despatched. |
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Intangible assets |
Intangible assets are initially measured at cost. After initial recognition, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses. |
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Tangible fixed assets |
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Plant and machinery | - |
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Fixtures and fittings | - |
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Motor vehicles | - |
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Computer equipment | - |
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Stocks |
Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items. |
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Costs includes all direct expenditure and appropriate proportion of fixed and variable overheads. |
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Work in progress is valued at realisable value. |
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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. |
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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. |
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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. |
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3. | EMPLOYEES AND DIRECTORS |
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The average number of employees during the year was
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ASHTON JIG AND TOOL COMPANY LIMITED (REGISTERED NUMBER: 00604021) |
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NOTES TO THE FINANCIAL STATEMENTS - continued |
for the Year Ended 31 May 2021 |
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4. | INTANGIBLE FIXED ASSETS |
Totals |
£ |
COST |
At 1 June 2020 |
and 31 May 2021 |
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AMORTISATION |
At 1 June 2020 |
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Amortisation for year |
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At 31 May 2021 |
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NET BOOK VALUE |
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At 31 May 2021 |
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At 31 May 2020 |
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5. | TANGIBLE FIXED ASSETS |
Totals |
£ |
COST OR VALUATION |
At 1 June 2020 |
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Additions |
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Disposals | ( |
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At 31 May 2021 |
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DEPRECIATION |
At 1 June 2020 |
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Charge for year |
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Eliminated on disposal | ( |
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At 31 May 2021 |
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NET BOOK VALUE |
At 31 May 2021 |
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At 31 May 2020 |
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Cost or valuation at 31 May 2021 is represented by: |
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Totals |
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Valuation in 2012 | 365,000 |
Cost | 1,858,581 |
2,223,581 |
ASHTON JIG AND TOOL COMPANY LIMITED (REGISTERED NUMBER: 00604021) |
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NOTES TO THE FINANCIAL STATEMENTS - continued |
for the Year Ended 31 May 2021 |
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5. | TANGIBLE FIXED ASSETS - continued |
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If the property had not been revalued it would have been included at the following historical cost: |
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2021 | 2020 |
£ | £ |
Cost | 163,992 | 163,992 |
Aggregate depreciation | 41,312 | 41,312 |
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Value of land in freehold land and buildings | 125,992 | 125,992 |
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The long leasehold property was valued on an open market basis on 10 August 2011 by W C Dawson & Son Limited . |
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Fixed assets, included in the above, which are held under hire purchase contracts are as follows: |
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Totals |
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COST OR VALUATION |
At 1 June 2020 |
and 31 May 2021 | 91,500 |
DEPRECIATION |
At 1 June 2020 | 6,863 |
Charge for year | 8,463 |
At 31 May 2021 | 15,326 |
NET BOOK VALUE |
At 31 May 2021 | 76,174 |
At 31 May 2020 | 84,637 |
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6. | RESERVES |
Revaluation |
reserve |
£ |
At 1 June 2020 |
and 31 May 2021 |
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7. | RELATED PARTY DISCLOSURES |
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During the year, total dividends of £81,000 (2020 - £125,444) were paid to the directors. |
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J M & Mrs S A Clifton are directors of Bond Hill Property Limited to whom the company paid £41,100 for rent and utilities.(2020 - £39,455). |
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8. | ULTIMATE CONTROLLING PARTY |
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The controlling party is Mr & Mrs Clifton. |