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REGISTERED NUMBER: 06366823 (England and Wales)


Financial Statements for the Year Ended 28 February 2023

for

Ashray Construction Limited

Ashray Construction Limited (Registered number: 06366823)






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 Construction Limited

Company Information
for the Year Ended 28 February 2023







DIRECTORS: Mr K A Modi
Mr A A Modi





SECRETARY: Mrs J Modi





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





REGISTERED NUMBER: 06366823 (England and Wales)





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

Ashray Construction Limited (Registered number: 06366823)

Statement of Financial Position
28 February 2023

28.2.23 28.2.22
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 477 503
Investments 5 204 204
681 707

CURRENT ASSETS
Stocks 1,495,213 1,495,213
Debtors 6 501,641 476,696
Cash at bank and in hand 85,450 73,974
2,082,304 2,045,883
CREDITORS
Amounts falling due within one year 7 614,249 599,420
NET CURRENT ASSETS 1,468,055 1,446,463
TOTAL ASSETS LESS CURRENT
LIABILITIES

1,468,736

1,447,170

CREDITORS
Amounts falling due after more than one
year

8

1,300,000

1,300,000
NET ASSETS 168,736 147,170

CAPITAL AND RESERVES
Called up share capital 1 1
Retained earnings 10 168,735 147,169
168,736 147,170

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 Construction Limited (Registered number: 06366823)

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 11 June 2023 and were signed on its behalf by:





Mr A A Modi - Director


Ashray Construction Limited (Registered number: 06366823)

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

1. STATUTORY INFORMATION

Ashray Construction 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.

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

Investments in subsidiaries
Investments in subsidiary undertakings are recognised at cost.

Stocks
Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.

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).

Ashray Construction Limited (Registered number: 06366823)

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

4. TANGIBLE FIXED ASSETS
Fixtures
and
fittings
£   
COST
At 1 March 2022 1,006
Additions 300
At 28 February 2023 1,306
DEPRECIATION
At 1 March 2022 503
Charge for year 326
At 28 February 2023 829
NET BOOK VALUE
At 28 February 2023 477
At 28 February 2022 503

5. FIXED ASSET INVESTMENTS
Shares in
group
undertakings
£   
COST
At 1 March 2022
and 28 February 2023 204
NET BOOK VALUE
At 28 February 2023 204
At 28 February 2022 204

The additions to Other Investments is offshore investments through Offshore company, now brought inshore and included in the UK company.

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
28.2.23 28.2.22
£    £   
Ashray Investment (3) 92,509 92,509
Ashray Investments (2) Ltd 315,946 315,946
Ashray Investment (1) Ltd 89,629 64,981
Other Loans 2,000 2,000
Prepayments 1,557 1,260
501,641 476,696

Ashray Construction Limited (Registered number: 06366823)

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

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
28.2.23 28.2.22
£    £   
Rent received in advance 14,400 -
Tax 5,064 5,713
Rent deposits 10,588 9,200
Loan A Modi & K Modi 283,000 283,000
Loan Kunal Modi Consulting Ltd 105,286 -
Other Creditors 3,500 -
Directors' current accounts 177,387 291,860
Accruals and deferred income 15,024 9,647
614,249 599,420

8. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
28.2.23 28.2.22
£    £   
Bank loans (see note 9) 1,300,000 1,300,000

Amounts falling due in more than five years:

Repayable by instalments
Bank loans more 5 yr by instal 1,300,000 1,300,000

9. 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 1,300,000 1,300,000

10. RESERVES
Retained
earnings
£   

At 1 March 2022 147,169
Profit for the year 21,566
At 28 February 2023 168,735

11. ULTIMATE CONTROLLING PARTY

The controlling party is Mr A A Modi.