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REGISTERED NUMBER: 04473439 (England and Wales)






























Financial Statements

for the Year Ended 31 March 2023

for

Ascot Management Limited

Ascot Management Limited (Registered number: 04473439)






Contents of the Financial Statements
for the Year Ended 31 March 2023




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


Ascot Management Limited

Company Information
for the Year Ended 31 March 2023







DIRECTOR: Ali Alkateb





SECRETARY: J Al-Katib





REGISTERED OFFICE: 336 Pinner Road
Harrow
HA1 4LB





REGISTERED NUMBER: 04473439 (England and Wales)





ACCOUNTANTS: Walji & Associates
336 Pinner Road
Harrow
HA1 4LB

Ascot Management Limited (Registered number: 04473439)

Balance Sheet
31 March 2023

31.3.23 31.3.22
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 23,400 29,250
Investment property 5 2,909,265 909,265
2,932,665 938,515

CURRENT ASSETS
Stocks - 709,397
Debtors 6 66,445 15,000
Cash at bank 72,698 167,803
139,143 892,200
CREDITORS
Amounts falling due within one year 7 259,122 51,882
NET CURRENT (LIABILITIES)/ASSETS (119,979 ) 840,318
TOTAL ASSETS LESS CURRENT
LIABILITIES

2,812,686

1,778,833

CREDITORS
Amounts falling due after more than one year 8 1,120,000 1,139,704
NET ASSETS 1,692,686 639,129

CAPITAL AND RESERVES
Called up share capital 100 100
Retained earnings 1,692,586 639,029
SHAREHOLDERS' FUNDS 1,692,686 639,129

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

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

The director acknowledges his 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.

Ascot Management Limited (Registered number: 04473439)

Balance Sheet - continued
31 March 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 director and authorised for issue on 28 March 2024 and were signed by:





Ali Alkateb - Director


Ascot Management Limited (Registered number: 04473439)

Notes to the Financial Statements
for the Year Ended 31 March 2023

1. STATUTORY INFORMATION

Ascot Management Limited is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.

2. ACCOUNTING POLICIES

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

Turnover
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Plant and machinery etc - 20% on reducing balance

Investment property
Investment property is shown at most recent valuation. Any aggregate surplus or deficit arising from changes in fair value is recognised in profit or loss.

Stocks
Work in progress is valued at the lower of cost and net realisable value.

Cost is calculated using the first-in, first-out method and includes all purchase, transport, and handling costs in bringing stocks to their present location and condition.

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 balance sheet date.

Deferred tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet 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.

Ascot Management Limited (Registered number: 04473439)

Notes to the Financial Statements - continued
for the Year Ended 31 March 2023

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 4 (2022 - 4 ) .

4. TANGIBLE FIXED ASSETS
Plant and
machinery
etc
£   
COST
At 1 April 2022
and 31 March 2023 37,724
DEPRECIATION
At 1 April 2022 8,474
Charge for year 5,850
At 31 March 2023 14,324
NET BOOK VALUE
At 31 March 2023 23,400
At 31 March 2022 29,250

5. INVESTMENT PROPERTY
Total
£   
FAIR VALUE
At 1 April 2022 909,265
Additions 2,000,000
At 31 March 2023 2,909,265
NET BOOK VALUE
At 31 March 2023 2,909,265
At 31 March 2022 909,265

The property at 136 Blythe Road has been now capitalised and taken as investment property. The property was valued professionally.

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.3.23 31.3.22
£    £   
Other debtors 66,445 15,000

Ascot Management Limited (Registered number: 04473439)

Notes to the Financial Statements - continued
for the Year Ended 31 March 2023

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.3.23 31.3.22
£    £   
Trade creditors - 2,034
Taxation and social security 248,502 18,044
Other creditors 10,620 31,804
259,122 51,882

8. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
31.3.23 31.3.22
£    £   
Bank loans 1,120,000 1,139,704