Silverfin false 31/05/2023 01/06/2022 31/05/2023 Anil Patel 29/05/2019 Bejay Patel 29/05/2019 Reena Patel 29/05/2019 Ria Patel 29/05/2019 12 February 2024 no description of principal activity 12021394 2023-05-31 12021394 bus:Director1 2023-05-31 12021394 bus:Director2 2023-05-31 12021394 bus:Director3 2023-05-31 12021394 bus:Director4 2023-05-31 12021394 2022-05-31 12021394 core:CurrentFinancialInstruments 2023-05-31 12021394 core:CurrentFinancialInstruments 2022-05-31 12021394 core:ShareCapital 2023-05-31 12021394 core:ShareCapital 2022-05-31 12021394 core:RetainedEarningsAccumulatedLosses 2023-05-31 12021394 core:RetainedEarningsAccumulatedLosses 2022-05-31 12021394 core:InvestmentPropertyIncludedWithinPPE 2022-05-31 12021394 core:InvestmentPropertyIncludedWithinPPE 2023-05-31 12021394 2022-06-01 2023-05-31 12021394 bus:FullAccounts 2022-06-01 2023-05-31 12021394 bus:SmallEntities 2022-06-01 2023-05-31 12021394 bus:AuditExemptWithAccountantsReport 2022-06-01 2023-05-31 12021394 bus:PrivateLimitedCompanyLtd 2022-06-01 2023-05-31 12021394 bus:Director1 2022-06-01 2023-05-31 12021394 bus:Director2 2022-06-01 2023-05-31 12021394 bus:Director3 2022-06-01 2023-05-31 12021394 bus:Director4 2022-06-01 2023-05-31 12021394 2021-06-01 2022-05-31 iso4217:GBP xbrli:pure

Company No: 12021394 (England and Wales)

AASHIRWAD KENT PROPERTIES LTD

Unaudited Financial Statements
For the financial year ended 31 May 2023
Pages for filing with the registrar

AASHIRWAD KENT PROPERTIES LTD

Unaudited Financial Statements

For the financial year ended 31 May 2023

Contents

AASHIRWAD KENT PROPERTIES LTD

COMPANY INFORMATION

For the financial year ended 31 May 2023
AASHIRWAD KENT PROPERTIES LTD

COMPANY INFORMATION (continued)

For the financial year ended 31 May 2023
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
AASHIRWAD KENT PROPERTIES LTD

STATEMENT OF FINANCIAL POSITION

As at 31 May 2023
AASHIRWAD KENT PROPERTIES LTD

STATEMENT OF FINANCIAL POSITION (continued)

As at 31 May 2023
Note 2023 2022
£ £
Fixed assets
Tangible assets 4 164,793 164,793
164,793 164,793
Current assets
Debtors 5 65 0
Cash at bank and in hand 10,389 11,436
10,454 11,436
Creditors: amounts falling due within one year 6 ( 173,062) ( 173,990)
Net current liabilities (162,608) (162,554)
Total assets less current liabilities 2,185 2,239
Net assets 2,185 2,239
Capital and reserves
Called-up share capital 40 40
Profit and loss account 2,145 2,199
Total shareholders' funds 2,185 2,239

For the financial year ending 31 May 2023 the Company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Directors' responsibilities:

The financial statements of Aashirwad Kent Properties Ltd (registered number: 12021394) were approved and authorised for issue by the Board of Directors on 12 February 2024. They were signed on its behalf by:

Bejay Patel
Director
AASHIRWAD KENT PROPERTIES LTD

NOTES TO THE FINANCIAL STATEMENTS

For the financial year ended 31 May 2023
AASHIRWAD KENT PROPERTIES LTD

NOTES TO THE FINANCIAL STATEMENTS

For the financial year ended 31 May 2023
1. Accounting policies

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.

General information and basis of accounting

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 £.

Going concern

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.

Turnover

Turnover comprises revenue recognised by the company in respect of rental income, exclusive of Value Added Tax.

Taxation

Current tax
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.

Tangible fixed assets

Tangible fixed assets are stated at cost or valuation, net of depreciation and any provision for impairment. Depreciation is provided on all tangible fixed assets, other than investment property and freehold land, at rates calculated to write off the cost or valuation, less estimated residual value, of each asset over its expected useful life.

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

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.

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.

Impairment of assets

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.

Investment property

Investment property is initially recognised at cost, which includes the purchase cost and any directly attributable expenditure. Subsequently it is measured at fair value at each reporting date with changes in fair value recognised in profit or loss. Deferred taxation is provided on these gains at the rate expected to apply when the property is sold.

The fair value is determined annually by the directors, on an open market value for existing use basis.

Financial instruments

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.

2. Critical accounting judgements and key sources of estimation uncertainty

In the application of the Company’s accounting policies, the directors are required to make judgements that have a significant impact on the amounts recognised. Accounting estimates and assumptions are made concerning the future and, by their nature, will rarely equal the related actual outcome. These estimates and judgements are continually reviewed and are based on experience and other factors, including expectations of future events that are believed to be reasonable under the circumstances.

3. Employees

2023 2022
Number Number
Monthly average number of persons employed by the Company during the year, including directors 4 4

4. Tangible assets

Investment property Total
£ £
Cost
At 01 June 2022 164,793 164,793
At 31 May 2023 164,793 164,793
Accumulated depreciation
At 01 June 2022 0 0
At 31 May 2023 0 0
Net book value
At 31 May 2023 164,793 164,793
At 31 May 2022 164,793 164,793

Investment property is held at fair value. The Directors believe that the cost continues to represent the market value of the property at the period end.

5. Debtors

2023 2022
£ £
Other debtors 65 0

6. Creditors: amounts falling due within one year

2023 2022
£ £
Taxation and social security 10 10
Other creditors 173,052 173,980
173,062 173,990

7. Related party transactions

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