Registered number
04349599
Ashview Developments Limited
Filleted Accounts
31 March 2023
Ashview Developments Limited
Registered number: 04349599
Balance Sheet
as at 31 March 2023
Notes 2023 2022
£ £
Fixed assets
Tangible assets 3 584,200 584,585
Current assets
Debtors 4 30,691 30,559
Cash at bank and in hand 112,610 2,035
143,301 32,594
Creditors: amounts falling due within one year 5 (158,297) (65,624)
Net current liabilities (14,996) (33,030)
Total assets less current liabilities 569,204 551,555
Creditors: amounts falling due after more than one year 6 (314,954) (315,328)
Provisions for liabilities (46,195) (46,195)
Net assets 208,055 190,032
Capital and reserves
Called up share capital 8 8
Revaluation reserve 7 300,208 300,208
Profit and loss account (92,161) (110,184)
Shareholders' funds 208,055 190,032
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.
Mr E. Graham
Director
Approved by the board on 26 October 2023
Ashview Developments Limited
Notes to the Accounts
for the year ended 31 March 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 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 rent receivable.
Long leasehold investment property
Long leasehold investment property is included at fair value. Gains are recognised through the profit and loss account on the statement of changes in equity and deferrd tax is also provided in
these gains at the rate expected to apply when the property is sold. As these net gains are not
available for distribution, a transfer is then made from the profit and loss account so that they are
held separately on a fair value reserve.
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:
Fixtures, fittings, tools and equipment 15% on reducing balance
Debtors
Short term debtors are measured at transaction price (which is usually the invoice price), less any impairment losses for bad and doubtful debts. Loans and other financial assets are initially recognised at transaction price including any transaction costs and subsequently measured at amortised cost determined using the effective interest method, 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 and subsequently measured at amortised cost determined using the effective interest method.
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.
Provisions
Provisions (ie liabilities of uncertain timing or amount) are recognised when there is an obligation at the reporting date as a result of a past event, it is probable that economic benefit will be transferred to settle the obligation and the amount of the obligation can be estimated reliably.
2 Employees 2023 2022
Number Number
Average number of persons employed by the company 2 2
3 Tangible fixed assets
Land and buildings Fixtures, fittings & equipment Total
£ £ £
Cost
At 1 April 2022 582,021 8,604 590,625
At 31 March 2023 582,021 8,604 590,625
Depreciation
At 1 April 2022 - 6,040 6,040
Charge for the year - 385 385
At 31 March 2023 - 6,425 6,425
Net book value
At 31 March 2023 582,021 2,179 584,200
At 31 March 2022 582,021 2,564 584,585
4 Debtors 2023 2022
£ £
Amounts owed by associated companies 30,541 30,559
Other debtors 150 -
30,691 30,559
5 Creditors: amounts falling due within one year 2023 2022
£ £
Bank loans and overdrafts - 5,714
Amounts owed to associated companies 124,385 15,385
Taxation and social security costs 5,902 1,514
Other creditors 28,010 43,011
158,297 65,624
6 Creditors: amounts falling due after one year 2023 2022
£ £
Bank loans 314,954 315,328
7 Fair value reserve 2023 2022
£ £
At 1 April 2022 300,208 300,208
At 31 March 2023 300,208 300,208
8 Other information
Ashview Developments Limited is a private company limited by shares and incorporated in England. Its registered office is:
159 Streatham High Road
London
SW16 6EG
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