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
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
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
Ashfield Property Group Ltd
Statement of financial position
as at 31 March 2022
Investment property
227,458
222,458
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)
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
Ashfield Property Group Ltd
Notes to the Accounts
for the year ended 31 March 2022
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.
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.
The accounts have been prepared under the historical cost convention as modified by the revaluation of certain fixed assets.
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 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
Fair value at 1 April 2021
222,458
Net gain from fair value adjustments
5,000
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
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).