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Company Registration No. 09748982 (England and Wales)
Ashfield Property Group Ltd Unaudited accounts for the year ended 31 March 2022
Ashfield Property Group Ltd Unaudited accounts Contents
Page
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Ashfield Property Group Ltd Company Information for the year ended 31 March 2022
Director
Christina Frances Palmer
Company Number
09748982 (England and Wales)
Registered Office
Sandown House Sandbeck Way Wetherby LS22 7DN England
Accountants
RAE Business Services (Yorkshire) Limited First Floor 85 Great Portland Street London W1W 7LT
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Ashfield Property Group Ltd Accountants' report
Accountants' report to the director of Ashfield Property Group Ltd on the preparation of the unaudited statutory accounts for the year ended 31 March 2022
In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the accounts of Ashfield Property Group Ltd for the year ended 31 March 2022 as set out on pages 5 - 7 from the company's accounting records and from information and explanations you have given us.
This report is made solely to the Board of Directors of Ashfield Property Group Ltd, as a body, in accordance with the terms of our engagement. Our work has been undertaken solely to prepare for your approval the accounts of Ashfield Property Group Ltd and state those matters that we have agreed to state to them, as a body, in this report. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than Ashfield Property Group Ltd and its Board of Directors as a body for our work or for this report.
It is your duty to ensure that Ashfield Property Group Ltd has kept adequate accounting records and to prepare statutory accounts that give a true and fair view of the assets, liabilities, financial position and profit of Ashfield Property Group Ltd. You consider that Ashfield Property Group Ltd is exempt from the statutory audit requirement for the year.
We have not been instructed to carry out an audit or a review of the accounts of Ashfield Property Group Ltd. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory accounts.
RAE Business Services (Yorkshire) Limited First Floor 85 Great Portland Street London W1W 7LT 28 July 2022
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Ashfield Property Group Ltd Statement of financial position as at 31 March 2022
2022 
2021 
Notes
£ 
£ 
Fixed assets
Investment property
227,458 
222,458 
Current assets
Cash at bank and in hand
1,857 
52,598 
Creditors: amounts falling due within one year
(12,646)
(64,679)
Net current liabilities
(10,789)
(12,081)
Total assets less current liabilities
216,669 
210,377 
Creditors: amounts falling due after more than one year
(186,763)
(195,097)
Net assets
29,906 
15,280 
Capital and reserves
Called up share capital
10 
10 
Profit and loss account
29,896 
15,270 
Shareholders' funds
29,906 
15,280 
For the year ending 31 March 2022 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 director acknowledges her 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 and in accordance with the provisions of FRS 102 Section 1A - Small Entities. The profit and loss account has not been delivered to the Registrar of Companies.
The financial statements were approved by the Board and authorised for issue on 18 August 2022 and were signed on its behalf by
Christina Frances Palmer Director Company Registration No. 09748982
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Ashfield Property Group Ltd Notes to the Accounts for the year ended 31 March 2022
1
Statutory information
Ashfield Property Group Ltd is a private company, limited by shares, registered in England and Wales, registration number 09748982. The registered office is Sandown House, Sandbeck Way, Wetherby, LS22 7DN, England.
2
Compliance with accounting standards
The accounts have been prepared in accordance with the provisions of FRS 102 Section 1A Small Entities. There were no material departures from that standard.
3
Accounting policies
The principal accounting policies adopted in the preparation of the financial statements are set out below and have remained unchanged from the previous year, and also have been consistently applied within the same accounts.
Basis of preparation
The accounts have been prepared under the historical cost convention as modified by the revaluation of certain fixed assets.
Presentation currency
The accounts are presented in £ sterling.
Tangible fixed assets and depreciation
Tangible assets are included at cost less depreciation and impairment. Depreciation has been provided at the following rates in order to write off the assets over their estimated useful lives:
Fixtures & fittings
33% on cost
Investment property
Investment property is included at market fair value. Gains are recognised in the income statement. Deferred taxation is provided on these gains at the rate expected to apply when the property is sold.
4
Tangible fixed assets
Fixtures & fittings 
£ 
Cost or valuation
At cost 
At 1 April 2021
5,747 
At 31 March 2022
5,747 
Depreciation
At 1 April 2021
5,747 
At 31 March 2022
5,747 
Net book value
At 31 March 2022
- 
5
Investment property
2022 
£ 
Fair value at 1 April 2021
222,458 
Net gain from fair value adjustments
5,000 
At 31 March 2022
227,458 
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Ashfield Property Group Ltd Notes to the Accounts for the year ended 31 March 2022
6
Creditors: amounts falling due within one year
2022 
2021 
£ 
£ 
Bank loans and overdrafts
- 
21,290 
Taxes and social security
2,258 
854 
Loans from directors
10,388 
42,535 
12,646 
64,679 
7
Creditors: amounts falling due after more than one year
2022 
2021 
£ 
£ 
Bank loans
186,763 
195,097 
Aggregate of amounts that fall due for payment after five years
145,097 
153,430 
The company received a Bounce Back Loan of £50,000, which is a 100% UK Government backed loan. Under the terms of the loan, the fees and interest incurred in the first 12 months are settled on behalf of the company by the UK Government. During this accounting period, grant income of £156 was received to partially cover the interest due on this loan. After the first 12 months, an interest rate of 2.5% is applicable. The initial length of the loan is for six years, with an option to extend to ten years under the Bounce Back Loan Scheme.
8
Average number of employees
During the year the average number of employees was 0 (2021: 0).
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