Registered number
05000067
Ashgreen Properties Limited
Report and Accounts
31 May 2024
Accountancy 4 Wealth Limited
Accountants and Business Advisors
33 Wolverhampton Road
Cannock
Staffordshire
WS11 1AP
Ashgreen Properties Limited
Registered number: 05000067
Balance Sheet
as at 31 May 2024
Notes 2024 2023
£ £
Fixed assets
Tangible assets 3 6,017,265 5,739,146
Current assets
Debtors 4 15,700 -
Cash at bank and in hand 32,331 4,435
48,031 4,435
Creditors: amounts falling due within one year 5 (242,542) (200,639)
Net current liabilities (194,511) (196,204)
Total assets less current liabilities 5,822,754 5,542,942
Creditors: amounts falling due after more than one year 6 (4,542,125) (4,310,270)
Net assets 1,280,629 1,232,672
Capital and reserves
Called up share capital 2 2
Revaluation reserve 7 629,133 629,133
Profit and loss account 651,494 603,537
Shareholders' funds 1,280,629 1,232,672
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.
Mr Stephen Lowndes
Director
Approved by the board on 24 July 2024
Ashgreen Properties Limited
Notes to the Accounts
for the year ended 31 May 2024
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.
Turnover
Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover includes revenue earned from the sale of goods and from the rendering of services. Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods have transferred to the buyer. Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs.
Tangible fixed assets
Tangible fixed assets are measured at cost less accumulative depreciation and any accumulative impairment losses. Depreciation is provided on all tangible fixed assets, other than freehold land, at rates calculated to write off the cost, less estimated residual value, of each asset evenly over its expected useful life, as follows:
Freehold buildings over 50 years
Leasehold land and buildings over the lease term
Plant and machinery 25% reducing balance
Fixtures, fittings, tools and equipment 25% reducing balance
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.
Leasing and hire purchase commitments
Assets held under finance leases and hire purchase contracts, which are those where substantially all the risks and rewards of ownership of the asset have passed to the company, are capitalised in the balance sheet and depreciated over their useful lives. The corresponding lease or hire purchase obligation is treated in the balance sheet as a liability.

The interest element of the rental obligations is charged to the profit and loss account over the period of the lease and represents a constant proportion of the balance of capital repayments outstanding.

Rentals paid under operating leases are charged to income on a straight line basis over the lease term.
2 Employees 2024 2023
Number Number
Average number of persons employed by the company 2 2
3 Tangible fixed assets
Land and buildings Plant and machinery etc Motor vehicles Total
£ £ £ £
Cost
At 1 June 2023 5,733,183 27,305 2,900 5,763,388
Additions 278,400 3,043 - 281,443
Disposals - (10,727) - (10,727)
At 31 May 2024 6,011,583 19,621 2,900 6,034,104
Depreciation
At 1 June 2023 - 21,729 2,513 24,242
Charge for the year - 1,808 97 1,905
On disposals - (9,308) - (9,308)
At 31 May 2024 - 14,229 2,610 16,839
Net book value
At 31 May 2024 6,011,583 5,392 290 6,017,265
At 31 May 2023 5,733,183 5,576 387 5,739,146
4 Debtors 2024 2023
£ £
Other debtors 15,700 -
5 Creditors: amounts falling due within one year 2024 2023
£ £
Bank loans and overdrafts 132,064 133,009
Amounts owed to group undertakings and undertakings in which the company has a participating interest 38,775 45,065
Corporation tax 16,036 10,520
Other creditors 55,667 12,045
242,542 200,639
6 Creditors: amounts falling due after one year 2024 2023
£ £
Bank loans 2,542,125 2,560,270
Other creditors 2,000,000 1,750,000
4,542,125 4,310,270
7 Revaluation reserve 2024 2023
£ £
At 1 June 2023 629,133 629,133
At 31 May 2024 629,133 629,133
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