Registration number: 04690730

Aspen Property Management Ltd

Contents

Company Information	1
Balance Sheet	2
Notes to the Unaudited Financial Statements	3 to 7

Aspen Property Management Ltd

Company Information

Directors

L Rodemark J Mrs Jane Docherty

Registered office

Aspen Lodge Stone Cross Crowborough East Sussex TN6 3SJ

Accountants

CRK Accounting Limited 12a Fleet Business Park Sandy Lane Church Crookham Fleet Hampshire GU52 8BF

Aspen Property Management Ltd

(Registration number: 04690730)
Balance Sheet as at 5 April 2023

	Note	2023 £	2022 £
Fixed assets
Tangible assets	4	15,282	23,355
Current assets
Debtors	5	44,947	44,947
Cash at bank and in hand		12,204	29,320
		57,151	74,267
Creditors: Amounts falling due within one year	6	(20,337)	(21,754)
Net current assets		36,814	52,513
Total assets less current liabilities		52,096	75,868
Creditors: Amounts falling due after more than one year	6	(17,864)	(24,437)
Net assets		34,232	51,431
Capital and reserves
Called up share capital		101	101
Retained earnings		34,131	51,330
Shareholders' funds		34,232	51,431

For the financial year ending 5 April 2023 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Directors' responsibilities:

•	The members have not required the company to obtain an audit of its accounts for the year in question in accordance with section 476; and
•	The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

These financial statements have been prepared in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006.

These financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime. As permitted by section 444 (5A) of the Companies Act 2006, the directors have not delivered to the registrar a copy of the Profit and Loss Account.

Approved and authorised by the Board on 11 September 2023 and signed on its behalf by:
 

......................................... J Mrs Jane Docherty Director

Aspen Property Management Ltd

Notes to the Unaudited Financial Statements for the Year Ended 5 April 2023

1	General information

The company is a private company limited by share capital, incorporated in England.

The address of its registered office is:
Aspen Lodge
Stone Cross
Crowborough
East Sussex
TN6 3SJ
United Kingdom

These financial statements were authorised for issue by the Board on 11 September 2023.

2	Accounting policies

Summary of significant accounting policies and key accounting estimates

The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.

Statement of compliance

These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A smaller entities - 'The Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland' and the Companies Act 2006 (as applicable to companies subject to the small companies' regime).

Basis of preparation

These financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.

Revenue recognition

Turnover comprises the fair value of the consideration received or receivable for the sale of goods and provision of services in the ordinary course of the company’s activities. Turnover is shown net of sales/value added tax, returns, rebates and discounts.

The company recognises revenue when:
The amount of revenue can be reliably measured;
it is probable that future economic benefits will flow to the entity;
and specific criteria have been met for each of the company's activities.

Tax

The tax expense for the period comprises current tax. Tax is recognised in profit or loss, except that a change attributable to an item of income or expense recognised as other comprehensive income is also recognised directly in other comprehensive income.

The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the reporting date in the countries where the company operates and generates taxable income.

Aspen Property Management Ltd

Notes to the Unaudited Financial Statements for the Year Ended 5 April 2023

Tangible assets

Tangible assets are stated in the balance sheet at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.

The cost of tangible assets includes directly attributable incremental costs incurred in their acquisition and installation.

Depreciation

Depreciation is charged so as to write off the cost of assets, other than land and properties under construction over their estimated useful lives, as follows:

Asset class	Depreciation method and rate
Plant and Machinery	20% Straight Line
Motor Vehicles	20% Straight Line

Cash and cash equivalents

Cash and cash equivalents comprise cash on hand and call deposits, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value.

Trade debtors

Trade debtors are amounts due from customers for merchandise sold or services performed in the ordinary course of business.

Trade debtors are recognised initially at the transaction price. They are subsequently measured at amortised cost using the effective interest method, less provision for impairment. A provision for the impairment of trade debtors is established when there is objective evidence that the company will not be able to collect all amounts due according to the original terms of the receivables.

Trade creditors

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Accounts payable are classified as current liabilities if the company does not have an unconditional right, at the end of the reporting period, to defer settlement of the creditor for at least twelve months after the reporting date. If there is an unconditional right to defer settlement for at least twelve months after the reporting date, they are presented as non-current liabilities.

Trade creditors are recognised initially at the transaction price and subsequently measured at amortised cost using the effective interest method.

Borrowings

Interest-bearing borrowings are initially recorded at fair value, net of transaction costs. Interest-bearing borrowings are subsequently carried at amortised cost, with the difference between the proceeds, net of transaction costs, and the amount due on redemption being recognised as a charge to the profit and loss account over the period of the relevant borrowing.

Interest expense is recognised on the basis of the effective interest method and is included in interest payable and similar charges.

Borrowings are classified as current liabilities unless the company has an unconditional right to defer settlement of the liability for at least twelve months after the reporting date.

Aspen Property Management Ltd

Notes to the Unaudited Financial Statements for the Year Ended 5 April 2023

Leases

Leases are classified as finance leases whenever the terms of the lease transfer substantially all the risks and rewards of ownership to the lessee.

Assets held under finance leases are recognised at the lower of their fair value at inception of the lease and the present value of the minimum lease payments. These assets are depreciated on a straight-line basis over the shorter of the useful life of the asset and the lease term. The corresponding liability to the lessor is included in the balance sheet as a finance lease obligation.

Lease payments are apportioned between finance costs in the profit and loss account and reduction of the lease obligation so as to achieve a constant periodic rate of interest on the remaining balance of the liability.

Share capital

Ordinary shares are classified as equity. Equity instruments are measured at the fair value of the cash or other resources received or receivable, net of the direct costs of issuing the equity instruments. If payment is deferred and the time value of money is material, the initial measurement is on a present value basis.

Dividends

Dividend distribution to the company’s shareholders is recognised as a liability in the financial statements in the reporting period in which the dividends are declared.

3	Staff numbers

The average number of persons employed by the company (including directors) during the year, was 1 (2022 - 1).

Aspen Property Management Ltd

Notes to the Unaudited Financial Statements for the Year Ended 5 April 2023

4	Tangible assets

	Motor vehicles  £	Other tangible assets £	Total £
Cost or valuation
At 6 April 2022	37,474	16,571	54,045
At 5 April 2023	37,474	16,571	54,045
Depreciation
At 6 April 2022	14,989	15,701	30,690
Charge for the year	7,495	578	8,073
At 5 April 2023	22,484	16,279	38,763
Carrying amount
At 5 April 2023	14,990	292	15,282
At 5 April 2022	22,485	870	23,355

5

Debtors

Current	2023 £	2022 £
Trade debtors	321	321
Other debtors	44,626	44,626
	44,947	44,947

Aspen Property Management Ltd

Notes to the Unaudited Financial Statements for the Year Ended 5 April 2023

6

Creditors

Creditors: amounts falling due within one year

	Note	2023 £	2022 £
Due within one year
Loans and borrowings	7	1,573	1,573
Trade creditors		534	201
Taxation and social security		15,659	16,399
Accruals and deferred income		2,388	3,415
Other creditors		183	166
		20,337	21,754