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COMPANY REGISTRATION NUMBER: 03227288
ASTON TAYLOR PROPERTIES LIMITED
FILLETED UNAUDITED FINANCIAL STATEMENTS
28 February 2023
ASTON TAYLOR PROPERTIES LIMITED
FINANCIAL STATEMENTS
YEAR ENDED 28th FEBRUARY 2023
Contents
Page
Statement of financial position
1
Notes to the financial statements
3
ASTON TAYLOR PROPERTIES LIMITED
STATEMENT OF FINANCIAL POSITION
28 February 2023
2023
2022
Note
£
£
£
Fixed assets
Tangible assets
5
343,995
344,027
Investments
6
10,000
10,000
---------
---------
353,995
354,027
Current assets
Debtors
7
28,254
36,965
Cash at bank and in hand
165,300
212,481
---------
---------
193,554
249,446
Creditors: amounts falling due within one year
8
38,565
102,988
---------
---------
Net current assets
154,989
146,458
---------
---------
Total assets less current liabilities
508,984
500,485
---------
---------
Net assets
508,984
500,485
---------
---------
Capital and reserves
Called up share capital
10,000
10,000
Profit and loss account
498,984
490,485
---------
---------
Shareholders funds
508,984
500,485
---------
---------
These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with Section 1A of FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.
In accordance with section 444 of the Companies Act 2006, the statement of income and retained earnings has not been delivered.
For the year ending 28th February 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 financial statements for the year in question in accordance with section 476 ;
- The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements .
ASTON TAYLOR PROPERTIES LIMITED
STATEMENT OF FINANCIAL POSITION (continued)
28 February 2023
These financial statements were approved by the board of directors and authorised for issue on 4 October 2023 , and are signed on behalf of the board by:
P. D. Aston
J. M. Aston
Director
Director
Company registration number: 03227288
ASTON TAYLOR PROPERTIES LIMITED
NOTES TO THE FINANCIAL STATEMENTS
YEAR ENDED 28th FEBRUARY 2023
1. General information
The company is a private company limited by shares, registered in England and Wales. The address of the registered office is 260-268 Chapel Street, Salford, Lancashire, M3 5JZ.
2. Statement of compliance
These financial statements have been prepared in compliance with Section 1A of FRS 102, 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland'.
3. Accounting policies
Basis of preparation
The financial statements have been prepared on the historical cost basis, as modified by the revaluation of certain financial assets and liabilities.
Taxation
The taxation expense represents the aggregate amount of current and deferred tax recognised in the reporting period. Tax is recognised in profit or loss, except to the extent that it relates to items recognised in other comprehensive income or directly in equity. In this case, tax is recognised in other comprehensive income or directly in equity, respectively. Current tax is recognised on taxable profit for the current and past periods. Current tax is measured at the amounts of tax expected to pay or recover using the tax rates and laws that have been enacted or substantively enacted at the reporting date.
Deferred tax is recognised in respect of all timing differences at the reporting date. Unrelieved tax losses and other deferred tax assets are recognised to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date that are expected to apply to the reversal of the timing difference.
Tangible assets
Tangible assets are initially recorded at cost, and subsequently stated at cost less any accumulated depreciation and impairment losses. Any tangible assets carried at revalued amounts are recorded at the fair value at the date of revaluation less any subsequent accumulated depreciation and subsequent accumulated impairment losses.
Depreciation
Depreciation is calculated so as to write off the cost or valuation of an asset, less its residual value, over the useful economic life of that asset as follows:
Office equipment
-
25% reducing balance
Investments
Fixed asset investments are initially recorded at cost, and subsequently stated at cost less any accumulated impairment losses.
Impairment of fixed assets
A review for indicators of impairment is carried out at each reporting date, with the recoverable amount being estimated where such indicators exist. Where the carrying value exceeds the recoverable amount, the asset is impaired accordingly. Prior impairments are also reviewed for possible reversal at each reporting date.
4. Employee numbers
The average number of persons employed by the company during the year amounted to 3 (2022: 3 ).
5. Tangible assets
Land and buildings
Office equipment
Total
£
£
£
Cost
At 1st March 2022 and 28th February 2023
343,900
1,685
345,585
---------
-------
---------
Depreciation
At 1st March 2022
1,558
1,558
Charge for the year
32
32
---------
-------
---------
At 28th February 2023
1,590
1,590
---------
-------
---------
Carrying amount
At 28th February 2023
343,900
95
343,995
---------
-------
---------
At 28th February 2022
343,900
127
344,027
---------
-------
---------
6. Investments
Shares in group undertakings
£
Cost
At 1st March 2022 and 28th February 2023
10,000
--------
Impairment
At 1st March 2022 and 28th February 2023
--------
Carrying amount
At 28th February 2023
10,000
--------
At 28th February 2022
10,000
--------
7. Debtors
2023
2022
£
£
Trade debtors
27,759
36,965
Other debtors
495
--------
--------
28,254
36,965
--------
--------
8. Creditors: amounts falling due within one year
2023
2022
£
£
Social security and other taxes
3,148
3,419
Other creditors
35,417
99,569
--------
---------
38,565
102,988
--------
---------
9. Related party transactions
The company was under the control of P. D. Aston throughout the current and previous year. P. D. Aston is the managing director and majority shareholder. At 28 February 2023 the company owed £30,864 (2022: £95,016) to its directors. No interest has been charged to the company in respect of the loan which is repayable on demand and is classified under creditors falling due within one year.