0 false false false false false false false false false true false false false false true true true No description of principal activity 2021-04-01 Sage Accounts Production Advanced 2021 - FRS102_2021 2,712,411 2,712,411 2,712,411 xbrli:pure xbrli:shares iso4217:GBP 07991258 2021-04-01 2022-03-31 07991258 2022-03-31 07991258 2021-03-31 07991258 bus:OrdinaryShareClass1 2021-04-01 2022-03-31 07991258 bus:Director1 2021-04-01 2022-03-31 07991258 core:AfterOneYear 2022-03-31 07991258 core:AfterOneYear 2021-03-31 07991258 core:WithinOneYear 2022-03-31 07991258 core:WithinOneYear 2021-03-31 07991258 core:ShareCapital 2022-03-31 07991258 core:ShareCapital 2021-03-31 07991258 core:RetainedEarningsAccumulatedLosses 2022-03-31 07991258 core:RetainedEarningsAccumulatedLosses 2021-03-31 07991258 core:CostValuation core:Non-currentFinancialInstruments 2022-03-31 07991258 core:Non-currentFinancialInstruments 2022-03-31 07991258 core:Non-currentFinancialInstruments 2021-03-31 07991258 core:RevaluationInvestmentPropertyDeferredTax 2022-03-31 07991258 core:RevaluationInvestmentPropertyDeferredTax 2021-03-31 07991258 bus:SmallEntities 2021-04-01 2022-03-31 07991258 bus:AuditExempt-NoAccountantsReport 2021-04-01 2022-03-31 07991258 bus:FullAccounts 2021-04-01 2022-03-31 07991258 bus:SmallCompaniesRegimeForAccounts 2021-04-01 2022-03-31 07991258 bus:PrivateLimitedCompanyLtd 2021-04-01 2022-03-31 07991258 bus:OrdinaryShareClass1 2022-03-31 07991258 bus:OrdinaryShareClass1 2021-03-31
COMPANY REGISTRATION NUMBER: 07991258
ASHFORD PROPERTY INVESTMENTS LIMITED
Filleted Unaudited Financial Statements
31 March 2022
ASHFORD PROPERTY INVESTMENTS LIMITED
Statement of Financial Position
31 March 2022
2022
2021
Note
£
£
£
Fixed assets
Investments
4
2,712,411
2,712,411
Current assets
Debtors
5
311,100
Cash at bank and in hand
10,662
513
----------
----
321,762
513
Creditors: amounts falling due within one year
6
176,446
201,902
----------
----------
Net current assets/(liabilities)
145,316
( 201,389)
-------------
-------------
Total assets less current liabilities
2,857,727
2,511,022
Creditors: amounts falling due after more than one year
7
1,556,000
1,260,000
Provisions
Taxation including deferred tax
154,700
154,700
-------------
-------------
Net assets
1,147,027
1,096,322
-------------
-------------
Capital and reserves
Called up share capital
9
100
100
Profit and loss account
1,146,927
1,096,222
-------------
-------------
Shareholders funds
1,147,027
1,096,322
-------------
-------------
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 31 March 2022 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 .
ASHFORD PROPERTY INVESTMENTS LIMITED
Statement of Financial Position (continued)
31 March 2022
These financial statements were approved by the board of directors and authorised for issue on 27 October 2023 , and are signed on behalf of the board by:
Mr A Iqbal
Director
Company registration number: 07991258
ASHFORD PROPERTY INVESTMENTS LIMITED
Notes to the Financial Statements
Year ended 31 March 2022
1. General information
The company is a private company limited by shares, registered in England and Wales. The address of the registered office is Lore-Ley, West View, Feltham, TW14 8PP, England.
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 and investment properties measured at fair value through profit or loss.
The financial statements are prepared in sterling, which is the functional currency of the entity.
Disclosure exemptions
The entity satisfies the criteria of being a qualifying entity as defined in FRS 102. As such, advantage has been taken of the following disclosure exemptions available under paragraph 1.12 of FRS 102: (b) No cash flow statement has been presented for the company.
Revenue recognition
The turnover shown in the profit and loss account represents rental income received during the period.
Income tax
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.
Investments
Fixed asset investments are initially recorded at cost, and subsequently stated at cost less any accumulated impairment losses.
Listed investments are measured at fair value with changes in fair value being recognised in profit or loss.
Investments in associates
Investments in associates accounted for in accordance with the cost model are recorded at cost less any accumulated impairment losses. Investments in associates accounted for in accordance with the fair value model are initially recorded at the transaction price. At each reporting date, the investments are measured at fair value, with changes in fair value recognised in other comprehensive income/profit or loss. Where it is impracticable to measure fair value reliably without undue cost or effort, the cost model will be adopted. Dividends and other distributions received from the investment are recognised as income without regard to whether the distributions are from accumulated profits of the associate arising before or after the date of acquisition.
Investments in joint ventures
Investments in jointly controlled entities accounted for in accordance with the cost model are recorded at cost less any accumulated impairment losses. Investments in jointly controlled entities accounted for in accordance with the fair value model are initially recorded at the transaction price. At each reporting date, the investments are measured at fair value, with changes in fair value recognised in other comprehensive income/profit or loss. Where it is impracticable to measure fair value reliably without undue cost or effort, the cost model will be adopted. Dividends and other distributions received from the investment are recognised as income without regard to whether the distributions are from accumulated profits of the joint venture arising before or after the date of acquisition.
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. For the purposes of impairment testing, when it is not possible to estimate the recoverable amount of an individual asset, an estimate is made of the recoverable amount of the cash-generating unit to which the asset belongs. The cash-generating unit is the smallest identifiable group of assets that includes the asset and generates cash inflows that largely independent of the cash inflows from other assets or groups of assets. For impairment testing of goodwill, the goodwill acquired in a business combination is, from the acquisition date, allocated to each of the cash-generating units that are expected to benefit from the synergies of the combination, irrespective of whether other assets or liabilities of the company are assigned to those units.
Provisions
Provisions are recognised when the entity has an obligation at the reporting date as a result of a past event, it is probable that the entity will be required to transfer economic benefits in settlement and the amount of the obligation can be estimated reliably. Provisions are recognised as a liability in the statement of financial position and the amount of the provision as an expense. Provisions are initially measured at the best estimate of the amount required to settle the obligation at the reporting date and subsequently reviewed at each reporting date and adjusted to reflect the current best estimate of the amount that would be required to settle the obligation. Any adjustments to the amounts previously recognised are recognised in profit or loss unless the provision was originally recognised as part of the cost of an asset. When a provision is measured at the present value of the amount expected to be required to settle the obligation, the unwinding of the discount is recognised as a finance cost in profit or loss in the period it arises.
Financial instruments
Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instrument is any contract that evidences a residual interest in the assets of the entity after deducting all of its financial liabilities.
4. Investments
Other investments other than loans
£
Cost
At 1 April 2021 and 31 March 2022
2,712,411
-------------
Impairment
At 1 April 2021 and 31 March 2022
-------------
Carrying amount
At 31 March 2022
2,712,411
-------------
At 31 March 2021
2,712,411
-------------
5. Debtors
2022
2021
£
£
Other debtors
311,100
----------
----
6. Creditors: amounts falling due within one year
2022
2021
£
£
Trade creditors
25,750
22,150
Corporation tax
41,686
29,792
Other creditors
109,010
149,960
----------
----------
176,446
201,902
----------
----------
7. Creditors: amounts falling due after more than one year
2022
2021
£
£
Bank loans and overdrafts
1,556,000
1,260,000
-------------
-------------
8. Deferred tax
The deferred tax included in the statement of financial position is as follows:
2022
2021
£
£
Included in provisions
154,700
154,700
----------
----------
The deferred tax account consists of the tax effect of timing differences in respect of:
2022
2021
£
£
Fair value adjustment of investment property
154,700
154,700
----------
----------
9. Called up share capital
Authorised share capital
2022
2021
No.
£
No.
£
Ordinary shares of £ 1 each
1,000
1,000
1,000
1,000
-------
-------
-------
-------
Issued, called up and fully paid
2022
2021
No.
£
No.
£
Ordinary shares of £ 1 each
100
100
100
100
----
----
----
----
10. Directors' advances, credits and guarantees
At 31 March 2022, other creditors include the following due to directors £105,410,(31 March 2021 £146,360). The loans are interest free & repayable on demand.
11. Related party transactions
Included in the company's turnover is a rental charge of £30,000 per annum receivable from Ashford Discount Stores Limited an associated company of the two directors.