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REGISTERED NUMBER: 12905828 (England and Wales)
























Unaudited Financial Statements

for the Year Ended 30 September 2023

for

Associated Assets Ltd

Associated Assets Ltd (Registered number: 12905828)






Contents of the Financial Statements
for the Year Ended 30 September 2023




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


Associated Assets Ltd

Company Information
for the Year Ended 30 September 2023







Directors: J Beaumont
D Beaumont





Secretary:





Registered office: Braich Farm
Frondeg
Rhostyllen
Wrexham
LL14 4NB





Registered number: 12905828 (England and Wales)





Accountants: Curtis Bowden & Thomas Limited
Chartered Certified Accountants
101 Dunraven Street
Tonypandy
CF40 1AR

Associated Assets Ltd (Registered number: 12905828)

Balance Sheet
30 September 2023

30.9.23 30.9.22
Notes £    £    £    £   
Fixed assets
Tangible assets 4 26,400 33,000
Investment property 5 835,000 865,000
861,400 898,000

Current assets
Debtors 6 5,035 1,202
Cash at bank 156,727 157,544
161,762 158,746
Creditors
Amounts falling due within one year 7 520,153 620,164
Net current liabilities (358,391 ) (461,418 )
Total assets less current liabilities 503,009 436,582

Provisions for liabilities 95,026 89,964
Net assets 407,983 346,618

Capital and reserves
Called up share capital 100 100
Retained earnings 407,883 346,518
407,983 346,618

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30 September 2023.

The members have not required the company to obtain an audit of its financial statements for the year ended 30 September 2023 in accordance with Section 476 of the Companies Act 2006.

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.

Associated Assets Ltd (Registered number: 12905828)

Balance Sheet - continued
30 September 2023


The financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

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 23 October 2023 and were signed on its behalf by:





D Beaumont - Director


Associated Assets Ltd (Registered number: 12905828)

Notes to the Financial Statements
for the Year Ended 30 September 2023

1. Statutory information

Associated Assets Ltd is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.

2. Accounting policies

Basis of preparing the financial statements
These financial statements have been prepared in accordance with Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" including the provisions of Section 1A "Small Entities" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention as modified by the revaluation of certain assets.

Turnover
Turnover comprises the total rents receivable by the company.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.

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.

Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Income Statement, except to the extent that it relates to items recognised in other comprehensive income or directly in equity.

Current or deferred taxation assets and liabilities are not discounted.

Current tax is recognised at the amount of tax payable using the tax rates and laws that have been enacted or substantively enacted by the balance sheet date.

Deferred tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date.

Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from those in which they are recognised in financial statements. Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the year end and that are expected to apply to the reversal of the timing difference.

Unrelieved tax losses and other deferred tax assets are recognised only to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits.

3. Employees and directors

The average number of employees during the year was NIL (2022 - NIL).

Associated Assets Ltd (Registered number: 12905828)

Notes to the Financial Statements - continued
for the Year Ended 30 September 2023

4. Tangible fixed assets
Plant and
machinery
etc
£   
Cost
At 1 October 2022
and 30 September 2023 36,000
Depreciation
At 1 October 2022 3,000
Charge for year 6,600
At 30 September 2023 9,600
Net book value
At 30 September 2023 26,400
At 30 September 2022 33,000

5. Investment property
Total
£   
Fair value
At 1 October 2022 865,000
Disposals (80,318 )
Revaluations 50,318
At 30 September 2023 835,000
Net book value
At 30 September 2023 835,000
At 30 September 2022 865,000

Fair value at 30 September 2023 is represented by:
£   
Valuation in 2022 835,000

If investment properties had not been revalued they would have been included at the following historical cost:

30.9.23 30.9.22
£    £   
Cost 334,860 415,178

Investment properties were valued on an open market basis on 30 September 2023 by the company directors .

6. Debtors: amounts falling due within one year
30.9.23 30.9.22
£    £   
Trade debtors 3,600 -
Other debtors 1,435 1,202
5,035 1,202

Associated Assets Ltd (Registered number: 12905828)

Notes to the Financial Statements - continued
for the Year Ended 30 September 2023

7. Creditors: amounts falling due within one year
30.9.23 30.9.22
£    £   
Other creditors 520,153 620,164

8. Directors' advances, credits and guarantees

Included within other creditors is a directors loan of £519,073. This amount is interest free and repayable on demand.

9. Ultimate controlling party

The company is controlled by the directors by virtue of their 100% share ownership.

10. Distributable reserves

As at 30 September 2022, the fair value adjustment in respect of investment properties totalled £500,140. (2022 : £449,822) This is included in the profit and loss reserve but is not distributable.