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REGISTERED NUMBER: 12279249 (England and Wales)














ASA REAL-ESTATE LTD

Unaudited Financial Statements

for the Year Ended 31 October 2023






ASA REAL-ESTATE LTD (Registered number: 12279249)






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




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


ASA REAL-ESTATE LTD

Company Information
for the Year Ended 31 October 2023







DIRECTOR: Mr A Nazaripour





REGISTERED OFFICE: 19 Lucerne Gardens
Hedge End
Southampton
Hampshire
SO30 4SD





REGISTERED NUMBER: 12279249 (England and Wales)





ACCOUNTANTS: Barter Durgan
Chartered Accountants
10 Victoria Road South
Southsea
Hampshire
PO5 2DA

ASA REAL-ESTATE LTD (Registered number: 12279249)

Balance Sheet
31 October 2023

2023 2022
Notes £    £    £    £   
FIXED ASSETS
Investment property 4 570,000 973,572

CURRENT ASSETS
Cash at bank and in hand 6,801 2,880

CREDITORS
Amounts falling due within one year 5 273,858 662,272
NET CURRENT LIABILITIES (267,057 ) (659,392 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

302,943

314,180

CREDITORS
Amounts falling due after more than one year 6 230,983 267,113
NET ASSETS 71,960 47,067

CAPITAL AND RESERVES
Called up share capital 100 100
Revaluation reserve 7 5,652 5,652
Retained earnings 66,208 41,315
SHAREHOLDERS' FUNDS 71,960 47,067

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 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.

ASA REAL-ESTATE LTD (Registered number: 12279249)

Balance Sheet - 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 director and authorised for issue on 27 July 2024 and were signed by:





Mr A Nazaripour - Director


ASA REAL-ESTATE LTD (Registered number: 12279249)

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

1. STATUTORY INFORMATION

ASA REAL-ESTATE LTD 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 as modified by the revaluation of certain assets.

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.

Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Statement of Income and Retained Earnings, 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.

3. EMPLOYEES AND DIRECTORS

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

ASA REAL-ESTATE LTD (Registered number: 12279249)

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

4. INVESTMENT PROPERTY
Total
£   
FAIR VALUE
At 1 November 2022 973,572
Disposals (403,572 )
At 31 October 2023 570,000
NET BOOK VALUE
At 31 October 2023 570,000
At 31 October 2022 973,572

Fair value at 31 October 2023 is represented by:
£   
Valuation in 2022 5,652
Cost 564,348
570,000

5. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Bank loans and overdrafts 12,400 17,200
Taxation 5,839 7,004
Loan - 349,985
Directors' current accounts 255,619 288,083
273,858 662,272

6. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
2023 2022
£    £   
Bank loans - 1-2 years 230,983 267,113

7. RESERVES
Revaluation
reserve
£   
At 1 November 2022
and 31 October 2023 5,652