2023-06-012024-05-312024-05-31false13405755ASENSI CHEETHAM 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ASENSI CHEETHAM LIMITED

Registered Number
13405755
(England and Wales)

Unaudited Financial Statements for the Year ended
31 May 2024

ASENSI CHEETHAM LIMITED
Company Information
for the year from 1 June 2023 to 31 May 2024

Director

CHEETHAM, Ian Mark

Registered Address

Third Floor
10 South Parade
Leeds
LS1 5QS

Registered Number

13405755 (England and Wales)
ASENSI CHEETHAM LIMITED
Statement of Financial Position
31 May 2024

Notes

2024

2023

£

£

£

£

Fixed assets
Tangible assets3531743
Investment property4468,314468,314
468,845469,057
Current assets
Debtors184171
Cash at bank and on hand4,98310,000
5,16710,171
Creditors amounts falling due within one year5(452,766)(471,045)
Net current assets (liabilities)(447,599)(460,874)
Total assets less current liabilities21,2468,183
Net assets21,2468,183
Capital and reserves
Called up share capital100100
Profit and loss account21,1468,083
Shareholders' funds21,2468,183
The financial statements were approved and authorised for issue by the Director on 14 August 2024, and are signed on its behalf by:
CHEETHAM, Ian Mark
Director
Registered Company No. 13405755
ASENSI CHEETHAM LIMITED
Notes to the Financial Statements
for the year ended 31 May 2024

1.Accounting policies
Statutory information
The company is a private company limited by shares and registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.
Basis of preparation
The financial statements have been prepared under the historical cost convention on a going concern basis unless otherwise specified within these accounting policies and in accordance with Section 1A of Financial Reporting Standard 102, the Financial Reporting Standard applicable in the UK and the Republic of Ireland and the Companies Act 2006.
Functional and presentation currency
The financial statements are presented in sterling and this is the functional currency of the company.
Going concern
The company has net current liabilities as a result of the amounts owed to it's director. The director has agreed that they will not call upon the monies due, to enable the company to meet their day today working capital requirements. On this basis, the director considers it appropriate to prepare the financial statements on a going concern basis.
Turnover policy
Turnover represents net invoiced rental income, excluding value added tax.
Foreign currency translation
Transactions in foreign currencies are initially recognised at the rate of exchange ruling at the date of the transaction. At the end of each reporting period foreign currency monetary items are translated at the closing rate of exchange. Non-monetary items that are measured at historical cost are translated at the rate ruling at the date of the transaction. All differences are charged to the Income Statement
Current taxation
Current tax is recognised on taxable profit for the current and past periods. Current tax is measured at the amounts of tax expected to pay or recover using the tax rates and laws that have been enacted or substantively enacted at the reporting date.
Tangible fixed assets and depreciation
Tangible fixed assets are stated at cost or valuation less depreciation. The assets residual values, useful lives and depreciation methods are reviewed and adjusted prospectively if appropriate, or if there is an indication of a significant change since the last reporting date. Gains and losses on disposal are determined by comparing the proceeds with the carrying amount and are recognised in the Income Statement Depreciation is provided on all tangible fixed assets as follows:

Straight line (years)
Office Equipment4
Investment property
Investment property is carried at fair value determined regularly by an external valuer and derived from the current market rents and investment property yields for comparable real estate. These values are adjusted if necessary for any difference in the nature, location or condition of the specific asset. No depreciation is provided. Changes in fair value are recognised in the Income Statement.
2.Average number of employees

20242023
Average number of employees during the year11
3.Tangible fixed assets

Office Equipment

Total

££
Cost or valuation
At 01 June 23849849
At 31 May 24849849
Depreciation and impairment
At 01 June 23106106
Charge for year212212
At 31 May 24318318
Net book value
At 31 May 24531531
At 31 May 23743743
4.Investment property

£
Fair value at 01 June 23468,314
At 31 May 24468,314
5.Creditors: amounts due within one year

2024

2023

££
Trade creditors / trade payables-418
Taxation and social security3,3481,259
Other creditors447,409467,509
Accrued liabilities and deferred income2,0091,859
Total452,766471,045
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.