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REGISTERED NUMBER: 09769576 (England and Wales)


Financial Statements for the Year Ended 28 February 2023

for

Ashray Investments Limited

Ashray Investments Limited (Registered number: 09769576)






Contents of the Financial Statements
for the Year Ended 28 February 2023




Page

Company Information 1

Statement of Financial Position 2

Notes to the Financial Statements 4


Ashray Investments Limited

Company Information
for the Year Ended 28 February 2023







DIRECTORS: Mr A A Modi
Mr A Dattani





REGISTERED OFFICE: 144-146 Kings Cross Road
London
United Kingdom
WC1X 9DU





REGISTERED NUMBER: 09769576 (England and Wales)





ACCOUNTANTS: Andrew Murray & Co
Chartered Accountants & Statutory Auditors
144-146 Kings Cross Road
London
WC1X 9DU

Ashray Investments Limited (Registered number: 09769576)

Statement of Financial Position
28 February 2023

28.2.23 28.2.22
Notes £    £    £    £   
FIXED ASSETS
Investment property 4 1,665,472 1,665,472

CURRENT ASSETS
Debtors 5 6,035 4,814
Cash at bank and in hand 44,549 4,306
50,584 9,120
CREDITORS
Amounts falling due within one year 6 811,841 828,165
NET CURRENT LIABILITIES (761,257 ) (819,045 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

904,215

846,427

CREDITORS
Amounts falling due after more than one
year

7

782,045

756,200
NET ASSETS 122,170 90,227

CAPITAL AND RESERVES
Called up share capital 100 100
Retained earnings 9 122,070 90,127
122,170 90,227

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 28 February 2023.

The members have not required the company to obtain an audit of its financial statements for the year ended 28 February 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.

Ashray Investments Limited (Registered number: 09769576)

Statement of Financial Position - continued
28 February 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 31 October 2023 and were signed on its behalf by:





Mr A Dattani - Director


Ashray Investments Limited (Registered number: 09769576)

Notes to the Financial Statements
for the Year Ended 28 February 2023

1. STATUTORY INFORMATION

Ashray Investments Limited 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.

Turnover
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

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 statement of financial position date.

Deferred tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the statement of financial position 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).

4. INVESTMENT PROPERTY
Total
£   
FAIR VALUE
At 1 March 2022
and 28 February 2023 1,665,472
NET BOOK VALUE
At 28 February 2023 1,665,472
At 28 February 2022 1,665,472

Ashray Investments Limited (Registered number: 09769576)

Notes to the Financial Statements - continued
for the Year Ended 28 February 2023

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
28.2.23 28.2.22
£    £   
Loan to Vinit Lakhani 2,500 2,500
Prepayments 3,535 2,314
6,035 4,814

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
28.2.23 28.2.22
£    £   
Tax 6,532 -
A Dattani Loan 239,750 244,750
Harsa Gray Loan 524,155 524,155
Rent deposits 6,500 6,500
Bank loan less than 1 year - 21,200
A Dattani 14,248 14,248
Directors' current accounts 18,611 15,667
Accruals and deferred income 2,045 1,645
811,841 828,165

7. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
28.2.23 28.2.22
£    £   
Bank loans (see note 8) 782,045 756,200

Amounts falling due in more than five years:

Repayable by instalments
Bank loans more 5 yr by instal 782,045 756,200

8. LOANS

An analysis of the maturity of loans is given below:

28.2.23 28.2.22
£    £   
Amounts falling due in more than five years:
Repayable by instalments
Bank loans more 5 yr by instal 782,045 756,200

9. RESERVES
Retained
earnings
£   

At 1 March 2022 90,127
Profit for the year 31,943
At 28 February 2023 122,070

Ashray Investments Limited (Registered number: 09769576)

Notes to the Financial Statements - continued
for the Year Ended 28 February 2023

10. ULTIMATE CONTROLLING PARTY

The ultimate controlling party is A Modi.

The company was controlled by it's director Mr A Modi.

As the company was wholly owned subsidiary throughout the period, the company has taken advantage of the exemption contained in FRS 8 and has therefore not disclosed transactions or balances with the group undertakings.

No other transactions with related parties were undertaken, such as are required to be disclosed under
Financial Reporting Standard 8.