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REGISTERED NUMBER: 07356075 (England and Wales)





















UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31ST MAY 2023

FOR

ASTON ALLOYS (PROPERTIES) LIMITED

ASTON ALLOYS (PROPERTIES) LIMITED (REGISTERED NUMBER: 07356075)






CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31ST MAY 2023




Page

Company Information 1

Statement of Financial Position 2

Notes to the Financial Statements 4


ASTON ALLOYS (PROPERTIES) LIMITED

COMPANY INFORMATION
FOR THE YEAR ENDED 31ST MAY 2023







DIRECTORS: Mr S G Betts
Mrs H Betts





SECRETARY: Mr S G Betts





REGISTERED OFFICE: Newport House
Newport Road
Stafford
Staffordshire
ST16 1DA





REGISTERED NUMBER: 07356075 (England and Wales)





ACCOUNTANTS: Howards Limited
Chartered Certified Accountants
Newport House
Newport Road
Stafford
Staffordshire
ST16 1DA

ASTON ALLOYS (PROPERTIES) LIMITED (REGISTERED NUMBER: 07356075)

STATEMENT OF FINANCIAL POSITION
31ST MAY 2023

2023 2022
Notes £    £   
Fixed assets
Tangible assets 5 1,807 2,259
Investment property 6 506,817 476,817
508,624 479,076

Current assets
Prepayments and accrued income 1,851 1,850
Cash at bank 231 2,556
2,082 4,406
Creditors
Amounts falling due within one year 7 (96,236 ) (136,208 )
Net current liabilities (94,154 ) (131,802 )
Total assets less current liabilities 414,470 347,274

Creditors
Amounts falling due after more than one
year

8

(35,814

)

(43,010

)

Provisions for liabilities (23,999 ) (12,539 )

Accruals and deferred income (1,175 ) (935 )
Net assets 353,482 290,790

Capital and reserves
Called up share capital 2 2
Fair value reserve 10 115,496 96,955
Retained earnings 237,984 193,833
Shareholders' funds 353,482 290,790

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31st May 2023.

The members have not required the company to obtain an audit of its financial statements for the year ended 31st May 2023 in accordance with Section 476 of the Companies Act 2006.

The directors acknowledge their 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.

ASTON ALLOYS (PROPERTIES) LIMITED (REGISTERED NUMBER: 07356075)

STATEMENT OF FINANCIAL POSITION - continued
31ST MAY 2023


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

In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 15th August 2023 and were signed on its behalf by:




Mr S G Betts - Director



Mrs H Betts - Director


ASTON ALLOYS (PROPERTIES) LIMITED (REGISTERED NUMBER: 07356075)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31ST MAY 2023

1. STATUTORY INFORMATION

Aston Alloys (Properties) Limited is a private company, limited by shares, registered in England and Wales. The company's registered number is 07356075 and the registered office address is Newport House, Newport Road, Stafford, Staffordshire, ST16 1DA.

The principal activity of the company is that of asset management.

2. STATEMENT OF COMPLIANCE

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.

3. ACCOUNTING POLICIES

Basis of preparing the financial statements
The financial statements have been prepared under the historical cost convention

Functional currency
The financial statements are prepared in sterling (£). The functional currency of the company is sterling (£).

Significant judgements and estimates
In determining and applying accounting policies, judgement is often required in respect of items where the choice of specific policy, accounting estimate or assumption to be followed could materially affect the reported results or net asset position of the company; it may later be determined that a different choice would have been more appropriate. Management considers that certain accounting estimates and assumptions relating to revenue, taxation, tangible fixed assets, provisions and contingent liabilities and accruals are its critical accounting estimates.

Income
Income relates to rental premiums received in respect of commercial property owned by the company and is recognised in the period to which the rentals relate.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off the cost less estimated residual value of each asset over its estimated useful life.
Improvements to property - 20% on cost

Investment property
Investment properties are properties held to earn rentals and/or for capital appreciation. Investment properties are initially measured at cost, including transaction costs. Subsequently investment properties whose fair value can be measured are valued at fair value. Gains and losses arising from changes in the fair value of investment properties are included in the profit and loss in the period in which they arise.

Investment properties whose fair value cannot be measured reliably without undue cost or effort on an ongoing basis are included in plant, property and equipment at cost less accumulated depreciation and accumulated impairment losses.

ASTON ALLOYS (PROPERTIES) LIMITED (REGISTERED NUMBER: 07356075)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31ST MAY 2023

3. ACCOUNTING POLICIES - continued

Financial instruments
The company only enters into basic financial instruments transactions that result in the recognition of financial assets and liabilities like trade and other accounts receivable and payable, loans from banks and other third parties, loans to related parties and investments in non-puttable ordinary shares.

Financial assets that are measured at cost and amortised cost are assessed at the end of each reporting period for objective evidence of impairment. If objective evidence of impairment is found, an impairment loss is recognised in profit or loss.

For financial assets measured at amortised cost, the impairment loss is measured as the difference between an asset's carrying amount and the present value of estimated cash flows discounted at the asset's original effective interest rate. If a financial asset has a variable interest rate, the discount rate for measuring any impairment loss is the current effective interest rate determined under the contract.

For financial assets measured at cost less impairment, the impairment loss is measured as the difference between an asset's carrying amount and the best estimate, which is an approximation, of the amount that the company would receive for the asset if it were to be sold at the reporting date.

Financial assets and liabilities are offset and the net amount reported in the statement of financial position when there is an enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously.

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 statement of financial position date.

Deferred tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the statement of financial position 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.

Provisions
Provisions are recognised when the company has a legal or constructive obligation at the reporting date as a result of a past event, it is probable that the company will be required to settle the obligation and the amount of the obligation can be reliably estimated.

Provisions are recognised at the best estimate of the amount required to settle the obligation at the reporting date.

ASTON ALLOYS (PROPERTIES) LIMITED (REGISTERED NUMBER: 07356075)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31ST MAY 2023

3. ACCOUNTING POLICIES - continued

Impairment of non financial assets
At each reporting date non-financial assets not carried at fair value, like goodwill and plant, property and equipment, are reviewed to determine whether there is an indication that an asset may be impaired. If there is an indication of possible impairment, the recoverable amount of any asset or group of related assets, which is the higher of value in use and the fair value less cost to sell, is estimated and compared with its carrying amount. If the recoverable amount is lower, the carrying amount of the asset is reduced to its recoverable amount and an impairment loss is recognised immediately in profit or loss.

Inventories are also assessed for impairment at each reporting date. The carrying amount of each item of inventory, or group of similar items, is compared with its selling price less costs to complete and sell. If an item of inventory or group of similar items is impaired, its carrying amount is reduced to selling price less costs to complete and sell, and an impairment loss is recognised immediately in profit or loss.

If an impairment loss is subsequently reversed, the carrying amount of the asset or group of related assets is increased to the revised estimate of its recoverable amount, but not to exceed the amount that would have been determined had no impairment loss been recognised for the asset or group of related assets in prior periods. A reversal of an impairment loss is recognised immediately in profit or loss.

4. EMPLOYEES AND DIRECTORS

The average number of employees during the year was NIL (2022 - NIL).

5. TANGIBLE FIXED ASSETS
Improvemen
to
property
£   
COST
At 1st June 2022
and 31st May 2023 2,259
DEPRECIATION
Charge for year 452
At 31st May 2023 452
NET BOOK VALUE
At 31st May 2023 1,807
At 31st May 2022 2,259

6. INVESTMENT PROPERTY
Total
£   
FAIR VALUE
At 1st June 2022 476,817
Revaluations 30,000
At 31st May 2023 506,817
NET BOOK VALUE
At 31st May 2023 506,817
At 31st May 2022 476,817

ASTON ALLOYS (PROPERTIES) LIMITED (REGISTERED NUMBER: 07356075)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31ST MAY 2023

6. INVESTMENT PROPERTY - continued

Fair value at 31st May 2023 is represented by:
£   
Valuation in 2018 15,000
Valuation in 2019 15,000
Valuation in 2021 58,494
Valuation in 2023 30,000
Cost 388,323
506,817

If investment property had not been revalued it would have been included at the following historical cost:

2023 2022
£    £   
Cost 215,310 215,310
Aggregate depreciation 21,000 21,000

Investment property was valued on a best estimate basis on 31st May 2023 by the directors .

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Bank loans and overdrafts 7,205 6,989
Taxation and social security 11,152 10,672
Other creditors 77,879 118,547
96,236 136,208

8. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR
2023 2022
£    £   
Bank loans 35,814 43,010

Amounts falling due in more than five years:

Repayable by instalments
Bank loans due exceeding 5 years 4,403 12,192

9. SECURED DEBTS

The following secured debts are included within creditors:

2023 2022
£    £   
Bank loans 43,019 49,999

There exists a debenture in favour of the bank dated 30/01/2014, incorporating fixed and floating charges.

ASTON ALLOYS (PROPERTIES) LIMITED (REGISTERED NUMBER: 07356075)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31ST MAY 2023

10. RESERVES
Fair
value
reserve
£   
At 1st June 2022 96,955
Deferred tax on revaluation 1
Fair value gain/(loss) 30,000
Deferred tax on revaluation (11,460 )

At 31st May 2023 115,496

11. DIRECTORS' ADVANCES, CREDITS AND GUARANTEES

The following advances and credits to directors subsisted during the years ended 31st May 2023 and 31st May 2022:

2023 2022
£    £   
Mr S G Betts and Mrs H Betts
Balance outstanding at start of year (921 ) 9,079
Amounts repaid - (10,000 )
Amounts written off - -
Amounts waived - -
Balance outstanding at end of year (921 ) (921 )