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REGISTERED NUMBER: 06881698 (England and Wales)















UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 OCTOBER 2023

FOR

ASKEY & SUTCLIFFE ASSOCIATES
(PROPERTIES) LIMITED

ASKEY & SUTCLIFFE ASSOCIATES
(PROPERTIES) LIMITED (REGISTERED NUMBER: 06881698)

CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 OCTOBER 2023










Page

Statement of Financial Position 1 to 2

Notes to the Financial Statements 3 to 6


ASKEY & SUTCLIFFE ASSOCIATES
(PROPERTIES) LIMITED (REGISTERED NUMBER: 06881698)

STATEMENT OF FINANCIAL POSITION
31 OCTOBER 2023

31.10.23 31.10.22
Notes £    £   
CURRENT ASSETS
Debtors 5 379 41,562
Cash at bank 25,897 8,714
26,276 50,276
CREDITORS
Amounts falling due within one year 6 (2,670 ) (8,443 )
NET CURRENT ASSETS 23,606 41,833
TOTAL ASSETS LESS CURRENT
LIABILITIES

23,606

41,833

CREDITORS
Amounts falling due after more than one
year

7

-

(15,810

)
NET ASSETS 23,606 26,023

CAPITAL AND RESERVES
Called up share capital 2 2
Retained earnings 9 23,604 26,021
SHAREHOLDERS' FUNDS 23,606 26,023

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

The members have not required the company to obtain an audit of its financial statements for the year ended 31 October 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.

ASKEY & SUTCLIFFE ASSOCIATES
(PROPERTIES) LIMITED (REGISTERED NUMBER: 06881698)

STATEMENT OF FINANCIAL POSITION - continued
31 OCTOBER 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 Statement of Income and Retained Earnings has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 19 January 2024 and were signed on its behalf by:





M Askey - Director


ASKEY & SUTCLIFFE ASSOCIATES
(PROPERTIES) LIMITED (REGISTERED NUMBER: 06881698)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 OCTOBER 2023


1. STATUTORY INFORMATION

ASKEY & SUTCLIFFE ASSOCIATES (PROPERTIES) LIMITED is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address are as below:

Registered number: 06881698

Registered office: 56 High Street
Biddulph
Stoke-on-Trent
Staffordshire
ST8 6AR

The principal activity of the company was that of property letting and management agents. The company sold the trade during the year ended 31 October 2020, and ceased to trade thereafter.

2. STATEMENT OF COMPLIANCE

These financial statements have been prepared in compliance with Section 1A of FRS 102, 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland'.

3. ACCOUNTING POLICIES

BASIS OF PREPARATION
The financial statements have been prepared on the historical cost basis.

The financial statements are prepared in sterling, which is the functional currency of the entity.

The financial statements have been prepared on a break-up basis, with all assets and liabilities stated at their recoverable amounts

JUDGEMENTS AND KEY SOURCES OF ESTIMATION UNCERTAINTY
The preparation of the financial statements requires management to make judgements, estimates and assumptions that affect the amounts reported. These estimates and judgements are continually reviewed and are based on experience and other factors, including expectations of future events that are believed to be reasonable under the circumstances.

ASKEY & SUTCLIFFE ASSOCIATES
(PROPERTIES) LIMITED (REGISTERED NUMBER: 06881698)

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


3. ACCOUNTING POLICIES - continued

FINANCIAL INSTRUMENTS
A financial asset or a financial liability is recognised only when the entity becomes a party to the contractual provisions of the instrument.

Basic financial instruments are initially recognised at the transaction price, unless the arrangement constitutes a financing transaction, where it is recognised at the present value of the future payments discounted at a market rate of interest for a similar debt instrument
.
Debt instruments are subsequently measured at amortised cost.

Financial assets that are measured at cost or amortised cost are reviewed for objective evidence of impairment at the end of each reporting date. If there is objective evidence of impairment, an impairment loss is recognised in profit or loss immediately.

For all equity instruments regardless of significance, and other financial assets that are individually significant, these are assessed individually for impairment. Other financial assets are either assessed individually or grouped on the basis of similar credit risk characteristics.

Any reversals of impairment are recognised in profit or loss immediately, to the extent that the reversal does not result in a carrying amount of the financial asset that exceeds what the carrying amount would have been had the impairment not previously been recognised.

Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instrument is any contract that evidences a residual interest in the assets of the entity after deducting all of its financial liabilities.

Where the contractual obligations of financial instruments (including share capital) are equivalent to a similar debt instrument, those financial instruments are classed as financial liabilities. Financial liabilities are presented as such in the balance sheet. Finance costs and gains or losses relating to financial liabilities are included in the profit and loss account. Finance costs are calculated so as to produce a constant rate of return on the outstanding liability.

Where the contractual terms of share capital do not have any terms meeting the definition of a financial liability then this is classed as an equity instrument. Dividends and distributions relating to equity instruments are debited direct to equity.

CORPORATION TAX
The taxation expense represents the aggregate amount of current and deferred tax recognised in the reporting period. Tax is recognised in profit or loss, except to the extent that it relates to items recognised in other comprehensive income or directly in equity. In this case, tax is recognised in other comprehensive income or directly in equity, respectively.

Current tax is recognised on taxable profit for the current and past periods. Current tax is measured at the amounts of tax expected to pay or recover using the tax rates and laws that have been enacted or substantively enacted at the reporting date.

Deferred tax is recognised in respect of all timing differences at the reporting date. Unrelieved tax losses and other deferred tax assets are recognised 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 that are expected to apply to the reversal of the timing difference.


ASKEY & SUTCLIFFE ASSOCIATES
(PROPERTIES) LIMITED (REGISTERED NUMBER: 06881698)

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


3. ACCOUNTING POLICIES - continued
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.

HIRE PURCHASE AND LEASING COMMITMENTS
Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease.

GOING CONCERN
The company ceased to trade in the year ended 31 October 2020. All assets and liabilities are shown at their recoverable amounts.

4. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 2 (2022 - 2 ) .

5. DEBTORS
31.10.23 31.10.22
£    £   
Amounts falling due within one year:
Other debtors - 23,750
Tax 379 -
379 23,750

Amounts falling due after more than one year:
Other debtors over 1 year - 17,812

Aggregate amounts 379 41,562

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.10.23 31.10.22
£    £   
Bank loans and overdrafts (see note 8) - 6,000
Trade creditors 75 -
VAT 1,097 1,022
Directors' current accounts 448 446
Accruals and deferred income 1,050 975
2,670 8,443

ASKEY & SUTCLIFFE ASSOCIATES
(PROPERTIES) LIMITED (REGISTERED NUMBER: 06881698)

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


7. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
31.10.23 31.10.22
£    £   
Bank loans (see note 8) - 15,810

8. LOANS

An analysis of the maturity of loans is given below:

31.10.23 31.10.22
£    £   
Amounts falling due within one year or on demand:
Bank loans - 6,000

Amounts falling due between one and two years:
Bank loans - 1-2 years - 6,000

Amounts falling due between two and five years:
Bank loans - 2-5 years - 9,810

9. RESERVES
Retained
earnings
£   

At 1 November 2022 26,021
Deficit for the year (1,617 )
Dividends (800 )
At 31 October 2023 23,604

10. RELATED PARTY TRANSACTIONS

All transactions undertaken with the directors are deemed to be conducted under normal market conditions and/or are not material.

11. EVENTS AFTER THE END OF THE REPORTING PERIOD

There were no significant events up to the date of approval of the financial statements by the board.