Company Registration No. 11238631 (England and Wales)
Ashan Limited
Unaudited accounts
for the year ended 31 March 2023
Ashan Limited
Unaudited accounts
Contents
Ashan Limited
Company Information
for the year ended 31 March 2023
Directors
Karan Bawa
Joanna Bawa
Company Number
11238631 (England and Wales)
Registered Office
RAUCEBY
NASCOT WOOD ROAD
WATFORD
WD17 4SD
UNITED KINGDOM
Ashan Limited
Statement of financial position
as at 31 March 2023
Tangible assets
5,771
7,214
Investment property
579,800
564,800
Cash at bank and in hand
143,619
41,822
Creditors: amounts falling due within one year
(499,236)
(415,198)
Net current liabilities
(355,117)
(372,876)
Total assets less current liabilities
230,454
199,138
Creditors: amounts falling due after more than one year
(147,398)
(147,398)
Provisions for liabilities
Deferred tax
(10,630)
(7,780)
Called up share capital
100
100
Revaluation reserve
37,928
25,778
Profit and loss account
34,398
18,082
Shareholders' funds
72,426
43,960
For the year ending 31 March 2023 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies. The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
These accounts have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with the provisions of FRS 102 Section 1A - Small Entities. The profit and loss account has not been delivered to the Registrar of Companies.
The financial statements were approved by the Board of Directors and authorised for issue on 18 October 2023 and were signed on its behalf by
Karan Bawa
Director
Company Registration No. 11238631
Ashan Limited
Notes to the Accounts
for the year ended 31 March 2023
Ashan Limited is a private company, limited by shares, registered in England and Wales, registration number 11238631. The registered office is RAUCEBY, NASCOT WOOD ROAD, WATFORD, WD17 4SD, UNITED KINGDOM.
2
Compliance with accounting standards
The accounts have been prepared in accordance with the provisions of FRS 102 Section 1A Small Entities. There were no material departures from that standard.
The principal accounting policies adopted in the preparation of the financial statements are set out below and have remained unchanged from the previous year, and also have been consistently applied within the same accounts.
The accounts have been prepared under the historical cost convention as modified by the revaluation of certain fixed assets.
The accounts are presented in £ sterling.
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. Turnover represents the value of rental income chargeable in respect of the company's investment property.
Tangible fixed assets and depreciation
Tangible assets are included at cost less depreciation and impairment. Depreciation has been provided at the following rates in order to write off the assets over their estimated useful lives:
Fixtures & fittings
20% Reducing balance
Deferred tax arises as a result of including items of income and expenditure in taxation computations in periods different from those in which they are included in the company's accounts. Deferred tax is provided in full on timing differences which result in an obligation to pay more (or less) tax at a future date, at the average tax rates that are expected to apply when the timing differences reverse, based on current tax rates and laws.
Deferred tax assets and liabilities are not discounted.
Investment property is included at market fair value. Gains are recognised in the income statement. Deferred taxation is provided on these gains at the rate expected to apply when the property is sold.
Ashan Limited
Notes to the Accounts
for the year ended 31 March 2023
4
Tangible fixed assets
Fixtures & fittings
Fair value at 1 April 2022
564,800
Net gain from fair value adjustments
15,000
Amounts falling due within one year
7
Creditors: amounts falling due within one year
2023
2022
Taxes and social security
5,103
3,631
Loans from directors
492,948
406,982
8
Creditors: amounts falling due after more than one year
2023
2022
Bank loans
147,398
147,398
Limited company owes the director £492,948.39 at 31/03/23 (£406,981.09 - 31/03/22). This is an interest free loan, repayable on demand.
Ashan Limited
Notes to the Accounts
for the year ended 31 March 2023
10
Average number of employees
During the year the average number of employees was 0 (2022: 0).