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REGISTERED NUMBER: 08647979 (England and Wales)


















UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 JULY 2023

FOR

ASPEN INVESTMENT (UK) LIMITED

ASPEN INVESTMENT (UK) LIMITED (REGISTERED NUMBER: 08647979)






CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JULY 2023




Page

Company Information 1

Statement of Financial Position 2

Notes to the Financial Statements 4


ASPEN INVESTMENT (UK) LIMITED

COMPANY INFORMATION
FOR THE YEAR ENDED 31 JULY 2023







DIRECTOR: Mr S D Hocking





REGISTERED OFFICE: 17 Tithe Barn Crescent
Swindon
Wiltshire
SN1 4JX





REGISTERED NUMBER: 08647979 (England and Wales)





ACCOUNTANTS: Haines Watts
Chartered Accountants
Old Station House
Station Approach
Swindon
Wiltshire
SN1 3DU

ASPEN INVESTMENT (UK) LIMITED (REGISTERED NUMBER: 08647979)

STATEMENT OF FINANCIAL POSITION
31 JULY 2023

31/7/23 31/7/22
Notes £    £    £    £   
FIXED ASSETS
Investments 4 319,915 775,058
Investment property 5 4,825,000 3,056,000
5,144,915 3,831,058

CURRENT ASSETS
Debtors 6 381,410 13,157
Cash at bank 49,348 1,057,146
430,758 1,070,303
CREDITORS
Amounts falling due within one year 7 4,067,360 3,345,336
NET CURRENT LIABILITIES (3,636,602 ) (2,275,033 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

1,508,313

1,556,025

CREDITORS
Amounts falling due after more than one
year

8

(753,511

)

-

PROVISIONS FOR LIABILITIES (20,308 ) (87,823 )
NET ASSETS 734,494 1,468,202

CAPITAL AND RESERVES
Called up share capital 1 1
Retained earnings 734,493 1,468,201
734,494 1,468,202

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 July 2023.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 July 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.

ASPEN INVESTMENT (UK) LIMITED (REGISTERED NUMBER: 08647979)

STATEMENT OF FINANCIAL POSITION - continued
31 JULY 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 Statement of Income and Retained Earnings has not been delivered.

The financial statements were approved by the director and authorised for issue on 7 November 2023 and were signed by:





Mr S D Hocking - Director


ASPEN INVESTMENT (UK) LIMITED (REGISTERED NUMBER: 08647979)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JULY 2023

1. STATUTORY INFORMATION

Aspen Investment (UK) 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 as modified by the revaluation of certain assets.

Turnover
Turnover is measured at the fair value of the consideration received or receivable for goods supplied and services rendered, net of discounts and Value Added Tax.

Rental revenue is recognised in accordance with the lease terms.

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 Statement of Income and Retained Earnings, 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).

ASPEN INVESTMENT (UK) LIMITED (REGISTERED NUMBER: 08647979)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 JULY 2023

4. FIXED ASSET INVESTMENTS
Other
investments
£   
COST OR VALUATION
At 1 August 2022 775,058
Additions 66,368
Disposals (467,738 )
Revaluations (53,773 )
At 31 July 2023 319,915
NET BOOK VALUE
At 31 July 2023 319,915
At 31 July 2022 775,058

The market value of the listed investments at 31 July 2023 was £217,250 (2022: £673,616)

Listed investments:

£   
Valuation at 1 August 2022 673,616
Additions 65,144
Disposals (467,738 )
Fair value adjustment (53,773 )
Valuation at 31 July 2023 217,250

The cost of unlisted investments at 31 July 2023 was £102,665 (2022: £101,441)

5. INVESTMENT PROPERTY
Total
£   
FAIR VALUE
At 1 August 2022 3,056,000
Additions 2,487,056
Revaluations (718,056 )
At 31 July 2023 4,825,000
NET BOOK VALUE
At 31 July 2023 4,825,000
At 31 July 2022 3,056,000

The investment properties comprise residential and commercial property measured at fair value.

The properties were valued by the director with values based on sales of similar properties in the area.

There has been no formal valuation of investment property by an independent valuer.

ASPEN INVESTMENT (UK) LIMITED (REGISTERED NUMBER: 08647979)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 JULY 2023

5. INVESTMENT PROPERTY - continued

Fair value at 31 July 2023 is represented by:
£   
Valuation in 2023 (718,056 )
Valuation in 2022 755,000
Valuation in 2021 102,000
Valuation in 2020 18,000
Valuation in 2019 63,673
Cost 4,604,383
4,825,000

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31/7/23 31/7/22
£    £   
Trade debtors 14,705 12,692
Amounts owed by group undertakings 326,000 -
Other debtors 40,705 465
381,410 13,157

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31/7/23 31/7/22
£    £   
Bank loans and overdrafts 33,239 -
Trade creditors 2,638 830
Amounts owed to group undertakings 3,947,668 3,295,278
Taxation and social security 48,995 47,528
Other creditors 34,820 1,700
4,067,360 3,345,336

8. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
31/7/23 31/7/22
£    £   
Bank loans 753,511 -

Amounts falling due in more than five years:

Repayable by instalments
Bank loans due after 5 years 620,556 -

9. SECURED DEBTS

The bank loan is secured by way of a first legal charge over The Old Brickyard property and its associated assets.

ASPEN INVESTMENT (UK) LIMITED (REGISTERED NUMBER: 08647979)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 JULY 2023

10. RELATED PARTY DISCLOSURES

Loans owing to Regency Homes (South West) Limited, a company under common ownership, totalled £1,264,000 (2022: £1,304,000)

Loans owing to Direct Window Supplies Limited, a company under common ownership, totalled £476,000 (2022: £176,000)

The amounts outstanding are non-interest bearing and are repayable on demand.

Management services charges of £7,860 were invoiced to Direct Window Supplies Limited during the period.

11. ULTIMATE CONTROLLING PARTY

The company's immediate parent company is Aspen Holdings (UK) Limited, incorporated in England,