Registered number
04056582
Ashley Property Investments Limited
Filleted Abridged Accounts
31 December 2023
Ashley Property Investments Limited
Registered number: 04056582
Abridged Balance Sheet
as at 31 December 2023
Notes 2023 2022
£ £
Fixed assets
Tangible assets 3 4,000,000 4,250,000
Investments 4 583,432 583,292
4,583,432 4,833,292
Current assets
Debtors 713,630 94,986
Cash at bank and in hand 75,079 541,036
788,709 636,022
Creditors: amounts falling due within one year (86,820) (101,427)
Net current assets 701,889 534,595
Net assets 5,285,321 5,367,887
Capital and reserves
Called up share capital 1,000 1,000
Revaluation reserve 5 2,366,963 2,615,862
Profit and loss account 2,917,358 2,751,025
Shareholder's funds 5,285,321 5,367,887
The director is satisfied that the company is entitled to exemption from the requirement to obtain an audit under section 477 of the Companies Act 2006.
The member has not required the company to obtain an audit in accordance with section 476 of the Act.
The director acknowledges her responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts.
The accounts have been prepared and delivered in accordance with the special provisions applicable to companies subject to the small companies regime. The profit and loss account has not been delivered to the Registrar of Companies.
The members have agreed to the preparation of abridged accounts for this accounting period in accordance with Section 444(2A) of the Companies Act 2006.
Miss L Morgan
Director
Approved by the board on 8 February 2024
Ashley Property Investments Limited
Notes to the Abridged Accounts
for the year ended 31 December 2023
1 Accounting policies
Basis of preparation
The abridged accounts have been prepared under the historical cost convention and in accordance with FRS 102, The Financial Reporting Standard applicable in the UK and Republic of Ireland (as applied to small entities by section 1A of the standard).
Turnover
Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover includes revenue earned from the sale of goods and from the rendering of services. Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods have transferred to the buyer. Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs.
Intangible fixed assets
Intangible fixed assets are measured at cost less accumulative amortisation and any accumulative impairment losses.
Tangible fixed assets
Tangible fixed assets are measured at cost less accumulative depreciation and any accumulative impairment losses. Depreciation is provided on all tangible fixed assets, other than freehold land, at rates calculated to write off the cost, less estimated residual value, of each asset evenly over its expected useful life, as follows:
Investments
Investments in subsidiaries, associates and joint ventures are measured at cost less any accumulated impairment losses. Listed investments are measured at fair value. Unlisted investments are measured at fair value unless the value cannot be measured reliably, in which case they are measured at cost less any accumulated impairment losses. Changes in fair value are included in the profit and loss account.
Taxation
A current tax liability is recognised for the tax payable on the taxable profit of the current and past periods. A current tax asset is recognised in respect of a tax loss that can be carried back to recover tax paid in a previous period. Deferred tax is recognised in respect of all timing differences between the recognition of income and expenses in the financial statements and their inclusion in tax assessments. 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. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date and that are expected to apply to the reversal of the timing difference, except for revalued land and investment property where the tax rate that applies to the sale of the asset is used. Current and deferred tax assets and liabilities are not discounted.
2 Employees 2023 2022
Number Number
Average number of persons employed by the company 1 1
3 Tangible fixed assets
Land and buildings Fixtures and fittings Motor vehicles Total
£ £ £ £
Cost
At 1 January 2023 4,250,000 - - 4,250,000
Surplus/(Loss) on revaluation (249,039) - - (249,039)
Disposals (961) - - (961)
At 31 December 2023 4,000,000 - - 4,000,000
Depreciation
At 31 December 2023 - - - -
Net book value
At 31 December 2023 4,000,000 - - 4,000,000
At 31 December 2022 4,250,000 - - 4,250,000
4 Investments
Other
investments
£
Cost
At 1 January 2023 583,292
Revaluation 140
At 31 December 2023 583,432
5 Revaluation reserve 2023 2022
£ £
At 1 January 2023 2,615,862 2,733,162
Loss on revaluation of investments (248,899) (117,300)
At 31 December 2023 2,366,963 2,615,862
6 Other information
Ashley Property Investments Limited is a private company limited by shares and incorporated in England. Its registered office is:
8-9 Borough Court
Grammar School Lane
Halesowen
West MIdlands
B63 3SW
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