COMPANY REGISTRATION NUMBER:
5600525
AS PROPERTIES (CHISWICK) LIMITED |
|
FILLETED UNAUDITED FINANCIAL STATEMENTS |
|
AS PROPERTIES (CHISWICK) LIMITED |
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STATEMENT OF FINANCIAL POSITION |
|
31 December 2023
Current assets
Debtors |
4 |
3,204,945 |
|
3,162,161 |
Cash at bank and in hand |
696 |
|
801 |
|
------------- |
|
------------- |
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3,205,641 |
|
3,162,962 |
|
|
|
|
|
Creditors: amounts falling due within one year |
5 |
2,833,239 |
|
2,775,441 |
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------------- |
|
------------- |
Net current assets |
|
372,402 |
387,521 |
|
|
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---------- |
Total assets less current liabilities |
|
372,402 |
387,521 |
|
|
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---------- |
Net assets |
|
372,402 |
387,521 |
|
|
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---------- |
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|
|
|
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Capital and reserves
Called up share capital |
|
10,000 |
10,000 |
Profit and loss account |
|
362,402 |
377,521 |
|
|
---------- |
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Shareholders funds |
|
372,402 |
387,521 |
|
|
---------- |
---------- |
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|
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These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with Section 1A of FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.
In accordance with section 444 of the Companies Act 2006, the statement of income and retained earnings has not been delivered.
For the year ending 31 December 2023 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
Directors' responsibilities:
-
The members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476
;
-
The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements
.
AS PROPERTIES (CHISWICK) LIMITED |
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STATEMENT OF FINANCIAL POSITION (continued) |
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31 December 2023
These financial statements were approved by the
board of directors
and authorised for issue on
15 July 2024
, and are signed on behalf of the board by:
Company registration number:
5600525
AS PROPERTIES (CHISWICK) LIMITED |
|
NOTES TO THE FINANCIAL STATEMENTS |
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YEAR ENDED 31 DECEMBER 2023
1.
General information
The company is a private company limited by shares, registered in England and Wales. The address of the registered office is Diamond House, 179-181 Lower Richmond House, Richmond, England, TW9 4LN.
2.
Statement of compliance
These financial statements have been prepared in compliance with Section 1A of FRS 102, 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland'.
3.
Accounting policies
Basis of preparation
The financial statements have been prepared on the historical cost basis, as modified by the revaluation of certain financial assets and liabilities and properties measured at fair value through profit or loss. The financial statements are prepared in sterling, which is the functional currency of the entity.
Going concern
In accordance with their responsibilities, the directors have considered the appropriateness of the going concern basis for the preparation of the financial statements. For this purpose, the directors have considered the adequacy of the company's cash resources covering the period 12 months ahead of the approval of these financial statements. The directors have reasonable expectations that the company has adequate resources to continue in operational existence for the foreseeable future. For this reason, the directors continue to adopt the going concern basis in preparing these financial statements.
Income tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date where transactions or events have occurred at that date that will result in an obligation to pay more, or a right to pay less or to receive more tax.
Financial instruments
A financial asset or a financial liability is recognised only when the entity becomes a party to the contractual provisions of the instrument. Basic financial instruments are initially recognised at the transaction price, unless the arrangement constitutes a financing transaction, where it is recognised at the present value of the future payments discounted at a market rate of interest for a similar debt instrument. Debt instruments are subsequently measured at amortised cost. Financial assets that are measured at cost or amortised cost are reviewed for objective evidence of impairment at the end of each reporting date. If there is objective evidence of impairment, an impairment loss is recognised in profit or loss immediately.
4.
Debtors
|
2023 |
2022 |
|
£ |
£ |
Amounts owed by group undertakings and undertakings in which the company has a participating interest |
3,120,000 |
3,120,000 |
Other debtors |
84,945 |
42,161 |
|
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------------- |
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3,204,945 |
3,162,161 |
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------------- |
|
|
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5.
Creditors:
amounts falling due within one year
|
2023 |
2022 |
|
£ |
£ |
Trade creditors |
216,058 |
216,058 |
Accruals and deferred income |
106 |
104 |
Other creditors |
100,450 |
100,450 |
Amounts owed to related parties |
2,516,625
|
2,458,829
|
|
------------- |
------------- |
|
2,833,239 |
2,775,441 |
|
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------------- |
|
|
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6.
Related party transactions
At 31 December 2023, creditors, amounts falling due within one year, included amounts owed to related parties amounting to £140,683 (2022 : £140,683),in respect of a loan from a shareholder with a participating interest. The loan is interest free, unsecured and repayable on demand. At 31 December 2023, creditors, amounts falling due within one year, included amounts owed to related parties amounting to £2,375,942 (2022: £2,318,147), in respect of a loan from a related party company. The companies are related parties by virtue of the significant common influence exerted by the directors. Interest of £57,795 (2022: £56,389), was charged for the year. The loan is unsecured and repayable on demand. At 31 December 2023, debtors included amounts owed by group undertakings and undertakings in which the company has a participating interest, not wholly owned within the group, amounting to £3,120,000 (2022: £3,120,000), on which interest of £42,784 (2022: £42,161) was receivable. The loan is unsecured and repayable on demand.
7.
Controlling party
The company is a 99% subsidiary of Dowgate Ltd, a company incorporated in England & Wales. The registered office of Dowgate Limited is Diamond House, 179-181 Lower Richmond Road, Richmond, England, TW9 4LN.