REGISTERED NUMBER: |
Unaudited Financial Statements |
for the Year Ended 31st March 2022 |
for |
Azibi Asset Management Limited |
REGISTERED NUMBER: |
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: |
REGISTERED OFFICE: |
REGISTERED NUMBER: |
ACCOUNTANTS: |
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 |
Investment property | 5 |
CURRENT ASSETS |
Debtors | 6 |
Cash at bank |
CREDITORS |
Amounts falling due within one year | 7 |
NET CURRENT LIABILITIES | ( |
) | ( |
) |
TOTAL ASSETS LESS CURRENT LIABILITIES |
CREDITORS |
Amounts falling due after more than one year | 8 | ( |
) | ( |
) |
PROVISIONS FOR LIABILITIES | ( |
) | ( |
) |
NET ASSETS |
CAPITAL AND RESERVES |
Called up share capital |
Fair value reserve | 10 |
Retained earnings |
SHAREHOLDERS' FUNDS |
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 |
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 |
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 |
2. | ACCOUNTING POLICIES |
Basis of preparing the financial statements |
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 |
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 |
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 |
Additions |
Disposals | ( |
) |
At 31st March 2022 |
DEPRECIATION |
At 1st April 2021 |
Charge for year |
Eliminated on disposal | ( |
) |
At 31st March 2022 |
NET BOOK VALUE |
At 31st March 2022 |
At 31st March 2021 |
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 |
DEPRECIATION |
At 1st April 2021 |
Charge for year |
At 31st March 2022 |
NET BOOK VALUE |
At 31st March 2022 |
At 31st March 2021 |
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 |
Revaluations | 22,000 |
At 31st March 2022 |
NET BOOK VALUE |
At 31st March 2022 |
At 31st March 2021 |
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 |
Other debtors |
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 |
Hire purchase contracts |
Trade creditors |
Taxation and social security |
Other creditors |
8. | CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR |
2022 | 2021 |
£ | £ |
Bank loans |
Hire purchase contracts |
Other creditors |
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 |
Hire purchase contracts | 69,892 | 82,573 |
10. | RESERVES |
Fair |
value |
reserve |
£ |
At 1st April 2021 |
Fair value adjustments | 22,000 |
At 31st March 2022 |
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 |