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REGISTERED NUMBER: 08805484 (England and Wales)














Unaudited Financial Statements

for the Year Ended 31st March 2022

for

Azibi Asset Management Limited

Azibi Asset Management Limited (Registered number: 08805484)






Contents of the Financial Statements
for the year ended 31st March 2022




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


Azibi Asset Management Limited

Company Information
for the year ended 31st March 2022







DIRECTORS: Dr C Stevens
Mrs J C Stevens





REGISTERED OFFICE: 124 City Road
London
EC1V 2NX





REGISTERED NUMBER: 08805484 (England and Wales)





ACCOUNTANTS: Apple Accounting Services Ltd
Chartered Management Accountants
12b Sun Street
Waltham Abbey
Essex
EN9 1EE

Azibi Asset Management Limited (Registered number: 08805484)

Balance Sheet
31st March 2022

2022 2021
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 79,466 186,023
Investment property 5 1,253,000 1,231,000
1,332,466 1,417,023

CURRENT ASSETS
Debtors 6 65,278 47,037
Cash at bank 265 2,718
65,543 49,755
CREDITORS
Amounts falling due within one year 7 254,001 227,471
NET CURRENT LIABILITIES (188,458 ) (177,716 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

1,144,008

1,239,307

CREDITORS
Amounts falling due after more than one year 8 (961,636 ) (1,018,776 )

PROVISIONS FOR LIABILITIES (41,779 ) (57,845 )
NET ASSETS 140,593 162,686

CAPITAL AND RESERVES
Called up share capital 2 2
Fair value reserve 10 140,424 118,424
Retained earnings 167 44,260
SHAREHOLDERS' FUNDS 140,593 162,686

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31st March 2022.

The members have not required the company to obtain an audit of its financial statements for the year ended 31st March 2022 in accordance with Section 476 of the Companies Act 2006.

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.

Azibi Asset Management Limited (Registered number: 08805484)

Balance Sheet - continued
31st March 2022


The financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 10th August 2022 and were signed on its behalf by:





Mrs J C Stevens - Director


Azibi Asset Management Limited (Registered number: 08805484)

Notes to the Financial Statements
for the year ended 31st March 2022

1. STATUTORY INFORMATION

Azibi Asset Management Limited is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.

2. ACCOUNTING POLICIES

Basis of preparing the financial statements
These financial statements have been prepared in accordance with Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" including the provisions of Section 1A "Small Entities" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention as modified by the revaluation of certain assets.

Turnover
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life or, if held under a finance lease, over the lease term, whichever is the shorter.

Investment property
Investment property is shown at most recent valuation. Any aggregate surplus or deficit arising from changes in fair value is recognised in profit or loss.

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.

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.

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.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 4 (2021 - 4 ) .

Azibi Asset Management Limited (Registered number: 08805484)

Notes to the Financial Statements - continued
for the year ended 31st March 2022

4. TANGIBLE FIXED ASSETS
Plant and
machinery
etc
£   
COST
At 1st April 2021 211,029
Additions 2,854
Disposals (97,380 )
At 31st March 2022 116,503
DEPRECIATION
At 1st April 2021 25,006
Charge for year 40,095
Eliminated on disposal (28,064 )
At 31st March 2022 37,037
NET BOOK VALUE
At 31st March 2022 79,466
At 31st March 2021 186,023

Fixed assets, included in the above, which are held under hire purchase contracts are as follows:

Plant and
machinery
etc
£   
COST
At 1st April 2021
and 31st March 2022 107,125
DEPRECIATION
At 1st April 2021 8,927
Charge for year 24,550
At 31st March 2022 33,477
NET BOOK VALUE
At 31st March 2022 73,648
At 31st March 2021 98,198

Azibi Asset Management Limited (Registered number: 08805484)

Notes to the Financial Statements - continued
for the year ended 31st March 2022

5. INVESTMENT PROPERTY
Total
£   
FAIR VALUE
At 1st April 2021 1,231,000
Revaluations 22,000
At 31st March 2022 1,253,000
NET BOOK VALUE
At 31st March 2022 1,253,000
At 31st March 2021 1,231,000

Fair value at 31st March 2022 is represented by:
£   
Valuation in 2017 242,000
Valuation in 2018 1,840,250
Valuation in 2019 (605,893 )
Valuation in 2020 (96,357 )
Valuation in 2021 (149,000 )
Valuation in 2022 22,000
1,253,000

If Investment properties had not been revalued they would have been included at the following historical cost:

2022 2021
£    £   
Cost 1,112,576 1,112,576

Investment properties were valued on an open market basis on 31st March 2022 by Dr Craig Stevens, Director .

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2022 2021
£    £   
Trade debtors 57,375 33,181
Other debtors 7,903 13,856
65,278 47,037

Azibi Asset Management Limited (Registered number: 08805484)

Notes to the Financial Statements - continued
for the year ended 31st March 2022

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2022 2021
£    £   
Bank loans and overdrafts 45,436 43,687
Hire purchase contracts 12,681 12,681
Trade creditors 2,423 211
Taxation and social security 5,665 6,036
Other creditors 187,796 164,856
254,001 227,471

8. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
2022 2021
£    £   
Bank loans 887,762 925,849
Hire purchase contracts 57,211 69,892
Other creditors 16,663 23,035
961,636 1,018,776

Amounts falling due in more than five years:

Repayable by instalments
Bank loans more 5 yr by instal - 1,667

9. SECURED DEBTS

The following secured debts are included within creditors:

2022 2021
£    £   
Bank loans 933,198 969,536
Hire purchase contracts 69,892 82,573
1,003,090 1,052,109

10. RESERVES
Fair
value
reserve
£   
At 1st April 2021 118,424
Fair value adjustments 22,000

At 31st March 2022 140,424

Azibi Asset Management Limited (Registered number: 08805484)

Notes to the Financial Statements - continued
for the year ended 31st March 2022

11. ULTIMATE CONTROLLING PARTY

The ultimate controlling party is Dr C Stevens and Mrs J C Stevens.