Registered number
08991125
ASK ESTATES (LEICESTER) LTD
Filleted Accounts
30 April 2023
ASK ESTATES (LEICESTER) LTD
Registered number: 08991125
Balance Sheet
as at 30 April 2023
Notes 2023 2022
£ £
Fixed assets
Tangible assets 3 2,447,573 2,266,687
Current assets
Debtors 4 90,393 67,472
Cash at bank and in hand 149,897 161,851
240,290 229,323
Creditors: amounts falling due within one year 5 (157,361) (135,604)
Net current assets 82,929 93,719
Total assets less current liabilities 2,530,502 2,360,406
Creditors: amounts falling due after more than one year 6 (2,288,795) (2,145,004)
Provisions for liabilities (31,673) (31,673)
Net assets 210,034 183,729
Capital and reserves
Called up share capital 1,000 1,000
Revaluation reserve 9 135,028 135,028
Profit and loss account 74,006 47,701
Shareholders' funds 210,034 183,729
The directors are satisfied that the company is entitled to exemption from the requirement to obtain an audit under section 477 of the Companies Act 2006.
The members have not required the company to obtain an audit in accordance with section 476 of the Act.
The directors acknowledge their 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.
A S Kullar
Director
Approved by the board on 19 April 2024
ASK ESTATES (LEICESTER) LTD
Notes to the Accounts
for the year ended 30 April 2023
1 Accounting policies
Basis of preparation
The 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 represents the amoint received for rent charged during the year.
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 investment properies, at rates calculated to write off the cost, less estimated residual value, of each asset evenly over its expected useful life, as follows:
Fixtures, fittings, tools and equipment 10% per annum on cost
Debtors
Short term debtors are measured at transaction price (which is usually the invoice price), less any impairment losses for bad and doubtful debts.
Creditors
Short term creditors are measured at transaction price (which is usually the invoice price). Loans and other financial liabilities are initially recognised at transaction price net of any transaction costs.
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.
2 Employees 2023 2022
Number Number
Average number of persons employed by the company 1 1
3 Tangible fixed assets
Investment properties Fixture, fittings and equipment Total
£ £ £
Cost
At 1 May 2022 2,266,075 1,178 2,267,253
Additions 180,691 347 181,038
At 30 April 2023 2,446,766 1,525 2,448,291
Depreciation
At 1 May 2022 - 566 566
Charge for the year - 152 152
At 30 April 2023 - 718 718
Net book value
At 30 April 2023 2,446,766 807 2,447,573
At 30 April 2022 2,266,075 612 2,266,687
4 Debtors 2023 2022
£ £
Trade debtors 90,393 67,472
5 Creditors: amounts falling due within one year 2023 2022
£ £
Bank loans and overdrafts (secured) 43,242 56,940
Trade creditors 86,850 58,013
Accruals 10,285 9,600
Taxation and social security costs 16,984 11,051
157,361 135,604
6 Creditors: amounts falling due after one year 2023 2022
£ £
Bank loans (secured) 1,568,823 1,463,629
Other creditors 719,972 681,375
2,288,795 2,145,004
7 Loans 2023 2022
£ £
Creditors include:
Instalments falling due for payment after more than five years 1,404,350 12,391,137
Secured bank loans 1,612,065 1,520,569
The bank loans are secured by charges over the freehold investment properties owned by company.
8 Provision for liabilities 2023 2022
£ £
Deferred taxation
Investment property revaluation 31,673 31,673
31,673 31,673
9 Revaluation reserve 2023 2022
£ £
At 1 May 2022 135,028 142,676
Trasfer during the year - (7,648)
At 30 April 2023 135,028 135,028
10 Other information
ASK ESTATES (LEICESTER) LTD is a private company limited by shares and incorporated in England. Its registered office is:
128A Evington Road
Leicester
LE2 1HL
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