Caseware UK (AP4) 2023.0.135 2023.0.135 2023-08-312023-08-31The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.2false2022-09-01that of an investment property management company.2false 12454170 2022-09-01 2023-08-31 12454170 2021-09-01 2022-08-31 12454170 2023-08-31 12454170 2022-08-31 12454170 c:Director1 2022-09-01 2023-08-31 12454170 d:Buildings d:LongLeaseholdAssets 2023-08-31 12454170 d:Buildings d:LongLeaseholdAssets 2022-08-31 12454170 d:LandBuildings 2023-08-31 12454170 d:LandBuildings 2022-08-31 12454170 d:CurrentFinancialInstruments 2023-08-31 12454170 d:CurrentFinancialInstruments 2022-08-31 12454170 d:Non-currentFinancialInstruments 2023-08-31 12454170 d:Non-currentFinancialInstruments 2022-08-31 12454170 c:Micro-entities 2022-09-01 2023-08-31 12454170 c:AuditExempt-NoAccountantsReport 2022-09-01 2023-08-31 12454170 c:FullAccounts 2022-09-01 2023-08-31 12454170 c:PrivateLimitedCompanyLtd 2022-09-01 2023-08-31 12454170 e:PoundSterling 2022-09-01 2023-08-31 iso4217:GBP xbrli:pure
Registered number: 12454170


ASRA ESTATE LTD
UNAUDITED
FINANCIAL STATEMENTS
INFORMATION FOR FILING WITH THE REGISTRAR
FOR THE YEAR ENDED 31 AUGUST 2023

 
ASRA ESTATE LTD
REGISTERED NUMBER: 12454170

STATEMENT OF FINANCIAL POSITION
AS AT 31 AUGUST 2023

2023
2022
Note
£
£

  

Fixed assets
 4 
1,121,440
1,121,440

Cash at bank and in hand
 6 
2,875
20,007

Creditors: amounts falling due within one year
 7 
(728,875)
(701,254)

Net current liabilities
  
 
 
(726,000)
 
 
(681,247)

Total assets less current liabilities
  
395,440
440,193

Creditors: amounts falling due after more than one year
 8 
(381,174)
(429,491)

  

Net assets
  
14,266
10,702


  

Capital and reserves
  
14,266
10,702


Page 1

 
ASRA ESTATE LTD
REGISTERED NUMBER: 12454170
    
STATEMENT OF FINANCIAL POSITION (CONTINUED)
AS AT 31 AUGUST 2023


The directors consider that the Company is entitled to exemption from audit under section 477 of the Companies Act 2006 and members have not required the Company to obtain an audit for the year in question in accordance with section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.

These financial statements have been prepared in accordance with the provisions applicable to entities subject to the micro-entities' regime.

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

The financial statements were approved and authorised for issue by the board and were signed on its behalf on 12 April 2024.




Mr Rajendra Thakerar
Director

The notes on pages 3 to 6 form part of these financial statements.

Page 2

 
ASRA ESTATE LTD
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 AUGUST 2023

1.


General information

Asra Estate Ltd is a private company, limited by share capital, incorporated in England & Wales under registration number 12454170. The address of the registered office is situated at 138 The Fairway, London, HA0 3TQ.

2.Accounting policies

 
2.1

Basis of preparation of financial statements

The financial statements have been prepared under the historical cost convention unless otherwise specified within these accounting policies and in accordance with Financial Reporting Standard 105 the UK and the Republic of Ireland and the Companies Act 2006.

The preparation of financial statements in compliance with FRS 102 requires the use of certain critical accounting estimates. It also requires management to exercise judgment in applying the Company's accounting policies.

The following principal accounting policies have been applied:

 
2.2

Revenue

Revenue is recognised to the extent that it is probable that the economic benefits will flow to the Company and the revenue can be reliably measured. Revenue is measured as the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. The following criteria must also be met before revenue is recognised:

Rendering of services

Revenue from a contract to provide services is recognised in the period in which the services are provided in accordance with the stage of completion of the contract when all of the following conditions are satisfied:
the amount of revenue can be measured reliably;
it is probable that the Company will receive the consideration due under the contract;
the stage of completion of the contract at the end of the reporting period can be measured reliably; and
the costs incurred and the costs to complete the contract can be measured reliably.

 
2.3

Interest income

Interest income is recognised in profit or loss using the effective interest method.

 
2.4

Finance costs

Finance costs are charged to profit or loss over the term of the debt using the effective interest method so that the amount charged is at a constant rate on the carrying amount. Issue costs are initially recognised as a reduction in the proceeds of the associated capital instrument.

Page 3

 
ASRA ESTATE LTD
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 AUGUST 2023

2.Accounting policies (continued)

 
2.5

Taxation

Tax is recognised in profit or loss except that a charge attributable to an item of income and expense recognised as other comprehensive income or to an item recognised directly in equity is also recognised in other comprehensive income or directly in equity respectively.

The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the reporting date in the countries where the Company operates and generates income.

  
2.6

Tangible fixed assets

Tangible fixed assets under the cost model are stated at historical cost less accumulated depreciation and any accumulated impairment losses. Historical cost includes expenditure that is directly attributable to bringing the asset to the location and condition necessary for it to be capable of operating in the manner intended by management.
Land is not depreciated.
The assets' residual values, useful lives and depreciation methods are reviewed, and adjusted prospectively if appropriate, or if there is an indication of a significant change since the last reporting date.
Gains and losses on disposals are determined by comparing the proceeds with the carrying amount and are recognised in profit or loss.

 
2.7

Debtors

Short-term debtors are measured at transaction price, less any impairment. Loans receivable are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method, less any impairment.

 
2.8

Cash and cash equivalents

Cash is represented by cash in hand and deposits with financial institutions repayable without penalty on notice of not more than 24 hours. Cash equivalents are highly liquid investments that mature in no more than three months from the date of acquisition and that are readily convertible to known amounts of cash with insignificant risk of change in value.

 
2.9

Creditors

Short-term creditors are measured at the transaction price. Other financial liabilities, including bank loans, are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method.


3.


Employees

The average monthly number of employees, including directors, during the year was 2 (2022 - 2).





Page 4

 
ASRA ESTATE LTD
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 AUGUST 2023

4.


Tangible fixed assets





Investment property

£



Cost or valuation


At 1 September 2022
1,121,440



At 31 August 2023

1,121,440






Net book value



At 31 August 2023
1,121,440



At 31 August 2022
1,121,440




The net book value of land and buildings may be further analysed as follows:


2023
2022
£
£

Land and buildings
1,121,440
1,121,440

1,121,440
1,121,440



5.


Debtors


6.


Cash and cash equivalents

2023
2022
£
£

Cash at bank and in hand
2,876
20,008

2,876
20,008


Page 5

 
ASRA ESTATE LTD
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 AUGUST 2023

7.


Creditors: Amounts falling due within one year

2023
2022
£
£

Bank loans
44,903
-

Amounts owed to connected companies
40,294
42,012

Corporation tax
3,323
2,487

Director's loan account
640,280
655,999

Accruals and deferred income
75
756

728,875
701,254


The bank loan is comprised of loans secured through fixed and floating charge over all the property or undertaking of the company.


8.


Creditors: Amounts falling due after more than one year

2023
2022
£
£

Bank loans
381,174
429,491

381,174
429,491


The bank loan is comprised of loans secured through fixed and floating charge over all the property or undertaking of the company.


9.


Related party transactions

The balance on director's loan account of Mr Rajendra Thakerar was £640,280 (2022 - £655,999) as at 31 August 2023. 
The director, Mr Rajendra Thakerar, had an interest in the company's transactions with Asra Park Ltd, which is incorporated and trading in the UK, by virtue of the director also being a director of that company.
Rent of £43,200 (2022 - £43,200) was paid to the company by Asra Park Ltd during the year ended 31 August 2023. As at the balance sheet date, the company owed Asra Park Ltd £40,294 (2022 - £42,012).


10.


Controlling party

The company is under the control of the director, Mr Rajendra Thakerar, by virtue of the fact that he owns 60% of the issued share capital.

 
Page 6