Registered number
10418765
ASSET GROUP REAL ESTATE LIMITED
Unaudited Filleted Accounts
31 October 2023
ASSET GROUP REAL ESTATE LIMITED
Registered number: 10418765
Balance Sheet
as at 31 October 2023
Notes 2023 2022
£ £
Fixed assets
Investments 3 257,851 257,851
Current assets
Debtors 4 28,000 40,000
Cash at bank and in hand 210,503 205,437
238,503 245,437
Creditors: amounts falling due within one year 5 (16,051) (41,373)
Net current assets 222,452 204,064
Net assets 480,303 461,915
Capital and reserves
Called up share capital 10,100 10,100
Profit and loss account 470,203 451,815
Shareholders' funds 480,303 461,915
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.
Serhan Rasih Akman
Director
Approved by the board on 29 July 2024
ASSET GROUP REAL ESTATE LIMITED
Notes to the Accounts
for the year ended 31 October 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 as rent receivable by properties and consultancy fees by managing various properties.
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.
Pensions
Contributions to defined contribution plans are expensed in the period to which they relate.
2 Employees 2023 2022
Number Number
Average number of persons employed by the company 0 0
3 Investments
Other
investments
£
Cost
At 1 November 2022 257,851
At 31 October 2023 257,851
4 Debtors 2023 2022
£ £
Other debtors 28,000 40,000
5 Creditors: amounts falling due within one year 2023 2022
£ £
Taxation and social security costs 8,337 40,173
Other creditors 7,714 1,200
16,051 41,373
6 Other information
ASSET GROUP REAL ESTATE LIMITED is a private company limited by shares and incorporated in England. Its registered office is:
Cawston Park
Aylsham Road
Cawston, Norwich
NR10 4JD
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