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REGISTERED NUMBER: 08450425 (England and Wales)


















UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 30 MARCH 2023

FOR

ASA PROPERTY MANAGEMENT LTD

ASA PROPERTY MANAGEMENT LTD (REGISTERED NUMBER: 08450425)






CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 MARCH 2023




Page

Company Information 1

Abridged Balance Sheet 2

Notes to the Financial Statements 4


ASA PROPERTY MANAGEMENT LTD

COMPANY INFORMATION
FOR THE YEAR ENDED 30 MARCH 2023







DIRECTOR: L M Backhouse





REGISTERED OFFICE: Union House
111 New Union Street
Coventry
West Midlands
CV1 2NT





REGISTERED NUMBER: 08450425 (England and Wales)





ACCOUNTANTS: Walker Begley Limited
Chartered Accountants
207 Knutsford Road
Grappenhall
Warrington
Cheshire
WA4 2QL

ASA PROPERTY MANAGEMENT LTD (REGISTERED NUMBER: 08450425)

ABRIDGED BALANCE SHEET
30 MARCH 2023

30/3/23 30/3/22
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 18,197 23,129
Investment property 5 520,000 628,937
538,197 652,066

CURRENT ASSETS
Debtors 1,467,421 941,310
Cash at bank 336 20,639
1,467,757 961,949
CREDITORS
Amounts falling due within one year 1,125,649 825,386
NET CURRENT ASSETS 342,108 136,563
TOTAL ASSETS LESS CURRENT
LIABILITIES

880,305

788,629

CREDITORS
Amounts falling due after more than one year 6 (423,026 ) (718,529 )

PROVISIONS FOR LIABILITIES (3,458 ) (4,395 )
NET ASSETS 453,821 65,705

CAPITAL AND RESERVES
Called up share capital 100 100
Retained earnings 453,721 65,605
SHAREHOLDERS' FUNDS 453,821 65,705

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30 March 2023.

The members have not required the company to obtain an audit of its financial statements for the year ended 30 March 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.

ASA PROPERTY MANAGEMENT LTD (REGISTERED NUMBER: 08450425)

ABRIDGED BALANCE SHEET - continued
30 MARCH 2023


The financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

All the members have consented to the preparation of an abridged Income Statement and an abridged Balance Sheet for the year ended 30 March 2023 in accordance with Section 444(2A) of the Companies Act 2006.

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 29 March 2024 and were signed by:





L M Backhouse - Director


ASA PROPERTY MANAGEMENT LTD (REGISTERED NUMBER: 08450425)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 MARCH 2023

1. STATUTORY INFORMATION

ASA Property Management Ltd 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, excluding discounts, rebates, value added tax and other sales taxes.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Plant and machinery etc - 20% on reducing balance

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 1 (2022 - 1 ) .

ASA PROPERTY MANAGEMENT LTD (REGISTERED NUMBER: 08450425)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 30 MARCH 2023

4. TANGIBLE FIXED ASSETS
Totals
£   
COST
At 31 March 2022 119,420
Additions 1,097
At 30 March 2023 120,517
DEPRECIATION
At 31 March 2022 96,291
Charge for year 6,029
At 30 March 2023 102,320
NET BOOK VALUE
At 30 March 2023 18,197
At 30 March 2022 23,129

5. INVESTMENT PROPERTY
Total
£   
FAIR VALUE
At 31 March 2022 628,937
Revaluations 388,392
Reclassification/transfer (497,329 )
At 30 March 2023 520,000
NET BOOK VALUE
At 30 March 2023 520,000
At 30 March 2022 628,937

Fair value at 30 March 2023 is represented by:
£   
Valuation in 2023 520,000

6. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN FIVE
YEARS
30/3/23 30/3/22
£    £   
Repayable by instalments
Bank loans more 5 yr by instal 392,193 718,529

7. DIRECTOR'S ADVANCES, CREDITS AND GUARANTEES

The director, Mr L Backhouse, has made an unsecured interest free loan available to the company of £401,727 at year end. There are no fixed repayment terms.