Company No:
Contents
DIRECTORS | Anil Patel |
Bejay Patel | |
Reena Patel | |
Ria Patel |
REGISTERED OFFICE | Aashirwad Monkton Road |
Minster | |
Ramsgate | |
CT12 4EF | |
United Kingdom |
COMPANY NUMBER | 12021394 (England and Wales) |
CHARTERED ACCOUNTANTS | Burgess Hodgson LLP |
Camburgh House | |
27 New Dover Road | |
Canterbury | |
CT1 3DN |
Note | 2023 | 2022 | ||
£ | £ | |||
Fixed assets | ||||
Tangible assets | 4 |
|
|
|
164,793 | 164,793 | |||
Current assets | ||||
Debtors | 5 |
|
|
|
Cash at bank and in hand |
|
|
||
10,454 | 11,436 | |||
Creditors: amounts falling due within one year | 6 | (
|
(
|
|
Net current liabilities | (162,608) | (162,554) | ||
Total assets less current liabilities | 2,185 | 2,239 | ||
Net assets |
|
|
||
Capital and reserves | ||||
Called-up share capital |
|
|
||
Profit and loss account |
|
|
||
Total shareholders' funds |
|
|
Directors' responsibilities:
The financial statements of Aashirwad Kent Properties Ltd (registered number:
Bejay Patel
Director |
The principal accounting policies are summarised below. They have all been applied consistently throughout the financial year and to the preceding financial year, unless otherwise stated.
Aashirwad Kent Properties Ltd (the Company) is a private company, limited by shares, incorporated in the United Kingdom under the Companies Act 2006 and is registered in England and Wales. The address of the Company's registered office is Aashirwad Monkton Road, Minster, Ramsgate, CT12 4EF, United Kingdom.
The financial statements have been prepared under the historical cost convention, modified to include the revaluation of freehold properties and to include investment properties and certain items at fair value, and in accordance with Section 1A of Financial Reporting Standard 102 (FRS 102) ‘The Financial Reporting Standard applicable in the UK and Republic of Ireland’ issued by the Financial Reporting Council and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime.
The financial statements are presented in pounds sterling which is the functional currency of the Company and rounded to the nearest £.
The directors have assessed the Statement of Financial Position and likely future cash flows at the date of approving these financial statements. The directors have a reasonable expectation that the Company has adequate resources to continue in operational existence and to meet its financial obligations as they fall due for at least 12 months from the date of signing these financial statements. Accordingly, they continue to adopt the going concern basis in preparing the financial statements.
Current tax is provided at amounts expected to be paid (or recoverable) using the tax rates and laws that have been enacted or substantively enacted at the Statement of Financial Position date.
Residual value represents the estimated amount which would currently be obtained from disposal of an asset, after deducting estimated costs of disposal, if the asset were already of the age and in the condition expected at the end of its useful life.
Investment property | not depreciated |
The gain or loss arising on the disposal of an asset is determined as the difference between the sale proceeds and the carrying value of the asset, and is credited or charged to profit or loss.
Assets, other than those measured at fair value, are assessed for indicators of impairment at each Statement of Financial Position date. If there is objective evidence of impairment, an impairment loss is recognised in the Statement of Income and Retained Earnings.
The fair value is determined annually by the directors, on an open market value for existing use basis.
Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into.
Debtors and creditors with no stated interest rate and receivable or payable within one year are recorded at transaction price. Any losses arising from impairment are recognised in the profit and loss account in other administrative expenses.
Loans and borrowings are initially recognised at the transaction price including transaction costs. Subsequently, they are measured at amortised cost using the effective interest rate method, less impairment. If an arrangement constitutes a finance transaction it is measured at present value.
2023 | 2022 | ||
Number | Number | ||
Monthly average number of persons employed by the Company during the year, including directors |
|
|
Investment property | Total | ||
£ | £ | ||
Cost | |||
At 01 June 2022 |
|
|
|
At 31 May 2023 |
|
|
|
Accumulated depreciation | |||
At 01 June 2022 |
|
|
|
At 31 May 2023 |
|
|
|
Net book value | |||
At 31 May 2023 |
|
|
|
At 31 May 2022 |
|
|
2023 | 2022 | ||
£ | £ | ||
Other debtors |
|
|
2023 | 2022 | ||
£ | £ | ||
Taxation and social security |
|
|
|
Other creditors |
|
|
|
|
|
Transactions with owners holding a participating interest in the entity
2023 | 2022 | ||
£ | £ | ||
At the year end the company owed close family members: | 110,617 | 110,617 |
Transactions with the entity's directors
2023 | 2022 | ||
£ | £ | ||
At the year end the company owed Directors: | 60,000 | 60,000 |