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Registered Number: 10743368
England and Wales

 

 

 


Report of the Director and Unaudited Financial Statements

for the year ended 30 April 2023

for

ASSET PROPERTIES LIMITED

 
 
 
£
2023
£
   
£
2022
£
Fixed assets 99,292  99,292 
Current assets 15,678  12,861 
Prepayments and accrued income 70  70 
Creditors: amount falling due within one year (2,630) (1,935)
Net current assets 13,118  10,996 
Total assets less current liabilities 112,410  110,288 
Creditors: amount falling due after more than one year (101,159) (101,237)
Accrued liabilities (300) (1,060)
Net assets 10,951  7,991 
 
Capital and reserves 10,951  7,991 
 
  1. For the year ended 30 April 2023 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
  2. The members have not required the company to obtain an audit of its accounts for the year in question in accordance with section 476 of the companies act 2006.
  3. The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts
The accounts have been prepared in accordance with the micro-entity provisions and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

Signed on behalf of the board of directors:


----------------------------------
Pervinder Kaur
Director

Date approved: 10 October 2023
1
Statutory Information
ASSET PROPERTIES LIMITED is a private limited company, limited by shares, domiciled in England and Wales, registration number 10743368, registration address 75 Lodge Road, Walsall, WS5 3LA, United Kingdom.

The presentation currency is £ sterling.
1.

Accounting Policies

Basis of accounting
The financial statements are prepared under the historical cost convention and in accordance with the FRS 105 Financial Reporting Standard for Micro Entities (effective January 2016).
Investment properties
Investment properties are included in the balance sheet at their open market value at the balance sheet date. The resulting aggregate surplus or deficit is transferred to a revaluation reserve. Depreciation is provided only on those investment properties which are leasehold and where the unexpired lease term is less than 20 years.

Although this accounting policy is in accordance with the Financial Reporting Standard for Smaller Entities (effective January 2015), it is a departure from the general requirement of the Companies Act 2006 for all tangible assets to be depreciated. In the opinion of the directors compliance with the standard is necessary for the financial statements to give a true and fair view. Depreciation or amortisation is only one of many factors reflected in the annual valuation and the amount of this which might otherwise have been charged cannot be separately identified or quantified.
2.

Financial assets

Cost or Valuation Investment in property   Total
  £   £
At 01 May 2022 99,292    99,292 
Additions  
Disposals  
At 30 April 2023 99,292    99,292 
3.

Average number of employees

Average number of employees during the year was 1  (2022: 1).
2