Registered number |
Registered number: | |||||||
Balance Sheet | |||||||
as at |
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Notes | 2024 | 2023 | |||||
£ | £ | ||||||
Fixed assets | |||||||
Tangible assets | 3 | ||||||
Investments | 4 | ||||||
Current assets | |||||||
Debtors | 5 | ||||||
Cash at bank and in hand | |||||||
Creditors: amounts falling due within one year | 6 | ( |
( |
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Net current assets | |||||||
Total assets less current liabilities | |||||||
Creditors: amounts falling due after more than one year | 7 | ( |
( |
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Net assets | |||||||
Capital and reserves | |||||||
Called up share capital | |||||||
Profit and loss account | |||||||
Shareholders' funds | |||||||
Ms M E Christodoulou | |||||||
Director | |||||||
Approved by the board on |
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Notes to the Accounts | ||||||||
for the year ended |
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1 | Accounting policies | |||||||
Basis of preparation | ||||||||
Turnover | ||||||||
Tangible fixed assets | ||||||||
Motor vehicles | over 4 years | |||||||
Fixtures and fittings | over 4 years | |||||||
Office equipment | over 4 years | |||||||
Computer equipment | over 4 years | |||||||
Investments | ||||||||
Debtors | ||||||||
Creditors | ||||||||
Taxation | ||||||||
Provisions | ||||||||
Pensions | ||||||||
2 | Employees | 2024 | 2023 | |||||
Number | Number | |||||||
Average number of persons employed by the company | ||||||||
3 | Tangible fixed assets | |||||||
Equipment fixtures & fittings | Motor vehicles | Total | ||||||
£ | £ | £ | ||||||
Cost | ||||||||
At 1 April 2023 | ||||||||
At 31 March 2024 | ||||||||
Depreciation | ||||||||
At 1 April 2023 | ||||||||
Charge for the year | - | |||||||
At 31 March 2024 | ||||||||
Net book value | ||||||||
At 31 March 2024 | ||||||||
At 31 March 2023 | ||||||||
4 | Investments | |||||||
Investments in | ||||||||
subsidiary | ||||||||
undertakings | ||||||||
£ | ||||||||
Cost | ||||||||
At 1 April 2023 | ||||||||
At 31 March 2024 | ||||||||
Subsidiary undertakings | ||||||||
The following companies were subsidiary undertakings of the company during the year: | ||||||||
Shares held | ||||||||
Company | Class | Holding | Principal activity | |||||
ASC Estates Limited | Ordinary | 100% | Property investment | |||||
Promarn Limited | Ordinary | 100% | Property investment | |||||
Spiketron Limited | Ordinary | 100% | General investments | |||||
The aggregate share capital and reserves as at 31 March 2024 and the profit or loss for the year then ended for each subsidiary undertaking were as follows: | ||||||||
Share capital and reserves | Profit/loss) for the year | |||||||
£ | £ | |||||||
ASC Estates Limited | 12,766,493 | 1,206,340 | ||||||
Promarn Limited | 6,003,519 | 1,978,935 | ||||||
Spiketron Limited | 28,582 | 10,845 | ||||||
18,798,594 | 3,196,120 | |||||||
5 | Debtors | 2024 | 2023 | |||||
£ | £ | |||||||
Amounts owed by group undertakings | ||||||||
Prepayments and accrued income | ||||||||
6 | Creditors: amounts falling due within one year | 2024 | 2023 | |||||
£ | £ | |||||||
Amounts owed to group undertakings | ||||||||
Taxation and social security costs | ||||||||
Other creditors | ||||||||
Accruals and deferred income | ||||||||
7 | Creditors: amounts falling due after one year | 2024 | 2023 | |||||
£ | £ | |||||||
Other loans | ||||||||
Other loans comprise amounts advanced as follows: | ||||||||
Mr S A Christodoulou | 550,000 | 500,000 | ||||||
Mr A I Christodoulou | 75,000 | 150,000 | ||||||
A I Christodoulou Family Trusts | 1,200,000 | 1,200,000 | ||||||
1,825,000 | 1,850,000 | |||||||
The loans are unsecured, interest free and have no fixed date of repayment. The loans are not repayable until after 31st March 2025. The A I Christodoulou Family Trusts are six in total and the loan from each Trust amounts to £200,000. The Trusts were created by Mr A I Christodoulou as Settlor on 13 February 2019 for the benefit of his six grandchildren. Mr A I Christodoulou is also a Trustee in all six Trusts. The remaining directors Mr S A Christodoulou and Ms M E Christodoulou are also Trustees, Mr S A Christodoulou in three Trusts and Ms M E Christodoulou in two Trusts. |
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8 | Pension commitments | |||||||
The company operates a defined contributions pension scheme. The assets of the scheme are held separately from those of the company in an independently administered fund. The pension cost charge represents contributions payable by the company to the fund and amounted to £32,957 (2023 - £31,975). Contributions totalling £345 (2023 - £596) were payable to the fund at the reporting date and are included in creditors. | ||||||||
9 | Other financial commitments | 2024 | 2023 | |||||
£ | £ | |||||||
Total future minimum payments under non-cancellable operating leases | ||||||||
10 | Related party transactions | |||||||
Rent was paid during the period to Delphi Assets Limited of £66,000 (2023: £66,000). Advantage has been taken of the FRS 102 exemption not to disclose related party transactions with subsidiaries that are wholly owned by the parent company. |
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11 | Controlling party | |||||||
12 | Other information | |||||||
ASC Investments Limited is a private company limited by shares and incorporated in England. Its registered office is: | ||||||||
Kastalia | ||||||||
1A Harmood Street | ||||||||
London | ||||||||
NW1 8DN |