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REGISTERED NUMBER: 11807598 (England and Wales)
















UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 28TH FEBRUARY 2023

FOR

ASSETBOUND LIMITED

ASSETBOUND LIMITED (REGISTERED NUMBER: 11807598)






CONTENTS OF THE FINANCIAL STATEMENTS
for the Year Ended 28TH FEBRUARY 2023




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 3


ASSETBOUND LIMITED

COMPANY INFORMATION
for the Year Ended 28TH FEBRUARY 2023







DIRECTOR: M D E Bayntun





REGISTERED OFFICE: 146-148 Newington Butts
S L S
London
SE11 4RN





REGISTERED NUMBER: 11807598 (England and Wales)





ACCOUNTANTS: Underwood Barron LLP
Monks Brook House
13 - 17 Hursley Road
Chandlers Ford
Eastleigh
Hampshire
SO53 2FW

ASSETBOUND LIMITED (REGISTERED NUMBER: 11807598)

BALANCE SHEET
28TH FEBRUARY 2023

28.2.23 28.2.22
Notes £    £    £    £   
FIXED ASSETS
Investment property 4 2,310,000 2,165,000

CURRENT ASSETS
Debtors 5 665,421 585,336
Cash at bank 7,282 6,221
672,703 591,557
CREDITORS
Amounts falling due within one year 6 101,026 87,660
NET CURRENT ASSETS 571,677 503,897
TOTAL ASSETS LESS CURRENT
LIABILITIES

2,881,677

2,668,897

CREDITORS
Amounts falling due after more than one
year

7

(2,031,913

)

(2,064,584

)

PROVISIONS FOR LIABILITIES (139,875 ) (78,755 )
NET ASSETS 709,889 525,558

CAPITAL AND RESERVES
Called up share capital 100 100
Fair value reserve 9 419,626 334,746
Retained earnings 290,163 190,712
709,889 525,558

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

The members have not required the company to obtain an audit of its financial statements for the year ended 28th February 2023 in accordance with Section 476 of the Companies Act 2006.

The director acknowledges his 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.

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 director and authorised for issue on 8th November 2023 and were signed by:





M D E Bayntun - Director


ASSETBOUND LIMITED (REGISTERED NUMBER: 11807598)

NOTES TO THE FINANCIAL STATEMENTS
for the Year Ended 28TH FEBRUARY 2023

1. STATUTORY INFORMATION

Assetbound 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
The company's financial statements show a loss for the first period of trading, the result of which has led to a net liability position at the balance sheet date.The director is continuing to support the company financially and will ensure that it has sufficient resources to enable it to meet its liabilities as they fall due. For this reason he is satisfied that the company can continue to prepare its financial statements on a going concern basis.

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 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).

4. INVESTMENT PROPERTY
Total
£   
FAIR VALUE
At 1st March 2022 2,165,000
Revaluations 145,000
At 28th February 2023 2,310,000
NET BOOK VALUE
At 28th February 2023 2,310,000
At 28th February 2022 2,165,000

ASSETBOUND LIMITED (REGISTERED NUMBER: 11807598)

NOTES TO THE FINANCIAL STATEMENTS - continued
for the Year Ended 28TH FEBRUARY 2023

4. INVESTMENT PROPERTY - continued

Fair value at 28th February 2023 is represented by:
£   
Valuation in 2021 327,176
Valuation in 2022 86,325
Valuation in 2023 145,000
Cost 1,751,499
2,310,000

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

28.2.23 28.2.22
£    £   
Cost 1,750,499 1,750,499
Aggregate depreciation (140,040 ) (105,030 )

Investment properties were valued on an open market basis basis on 28th February 2023 by the director of the company .

5. DEBTORS
28.2.23 28.2.22
£    £   
Amounts falling due within one year:
Other debtors 6,171 7,586

Amounts falling due after more than one year:
Amounts owed by associates 659,250 577,750

Aggregate amounts 665,421 585,336

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
28.2.23 28.2.22
£    £   
Bank loans and overdrafts 24,716 24,716
Trade creditors 13,158 11,110
Amounts owed to associates 18,744 16,271
Taxation and social security 4,841 4,862
Other creditors 39,567 30,701
101,026 87,660

7. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR
28.2.23 28.2.22
£    £   
Bank loans 782,807 809,283
Amounts owed to associates 1,204,138 1,207,638
Other creditors 44,968 47,663
2,031,913 2,064,584

Amounts falling due in more than five years:

Repayable by instalments
Bank loans more 5 yr by instal 634,513 660,989
Other loans more 5yrs instal 18,679 22,215
653,192 683,204

ASSETBOUND LIMITED (REGISTERED NUMBER: 11807598)

NOTES TO THE FINANCIAL STATEMENTS - continued
for the Year Ended 28TH FEBRUARY 2023

8. SECURED DEBTS

The following secured debts are included within creditors:

28.2.23 28.2.22
£    £   
Bank loans 807,523 833,999

9. RESERVES
Fair
value
reserve
£   
At 1st March 2022 334,746
Transfer between reserves 84,880

At 28th February 2023 419,626