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REGISTERED NUMBER: 01602919 (England and Wales)















Unaudited Financial Statements for the Year Ended 31 March 2024

for

Ashburn Limited

Ashburn Limited (Registered number: 01602919)






Contents of the Financial Statements
for the Year Ended 31 March 2024




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


Ashburn Limited

Company Information
for the Year Ended 31 March 2024







DIRECTORS: H M Glanville
P G Abraham
I Glanville





SECRETARY: I Glanville





REGISTERED OFFICE: 67 Westow Street
London
SE19 3RW





REGISTERED NUMBER: 01602919 (England and Wales)





ACCOUNTANTS: CWF & Partners Ltd
Chartered Accountants
67 Westow Street
Upper Norwood
London
SE19 3RW

Ashburn Limited (Registered number: 01602919)

Balance Sheet
31 March 2024

31.3.24 31.3.23
Notes £    £    £    £   
FIXED ASSETS
Investment property 5 7,350,000 6,796,279

CURRENT ASSETS
Debtors 6 1,140,140 1,108,696
Cash at bank 779,664 52,279
1,919,804 1,160,975
CREDITORS
Amounts falling due within one year 7 2,585,197 1,517,447
NET CURRENT LIABILITIES (665,393 ) (356,472 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

6,684,607

6,439,807

CREDITORS
Amounts falling due after more than one
year

8

(790,966

)

(1,332,313

)

PROVISIONS FOR LIABILITIES 11 (381,195 ) (239,205 )
NET ASSETS 5,512,446 4,868,289

CAPITAL AND RESERVES
Called up share capital 12 100 100
Fair value reserve 13 1,596,600 1,180,869
Retained earnings 13 3,915,746 3,687,320
SHAREHOLDERS' FUNDS 5,512,446 4,868,289

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 March 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 March 2024 in accordance with Section 476 of the Companies Act 2006.

The directors acknowledge their 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.

Ashburn Limited (Registered number: 01602919)

Balance Sheet - continued
31 March 2024


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 Income Statement has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 21 August 2024 and were signed on its behalf by:





I Glanville - Director


Ashburn Limited (Registered number: 01602919)

Notes to the Financial Statements
for the Year Ended 31 March 2024

1. STATUTORY INFORMATION

Ashburn Limited 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.

The presentation currency of the financial statements is the Pound Sterling (£).


2. STATEMENT OF COMPLIANCE

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.

3. ACCOUNTING POLICIES

Basis of preparing the financial statements
The financial statements have been prepared under the historical cost convention as modified by the recognition of certain financial assets and liabilities measured at fair value.

Turnover
Turnover represents rent receivable during the year.

Investment properties
Investment properties are initially recognised at cost which includes purchase cost and any directly attributable expenditure. Investment properties are measured at fair value. The surplus or deficit arising on the revaluation of investment properties at their fair values are recognised in the income statement.

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

Hire purchase and leasing commitments
Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease.

4. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 3 (2023 - 3 ) .

Ashburn Limited (Registered number: 01602919)

Notes to the Financial Statements - continued
for the Year Ended 31 March 2024

5. INVESTMENT PROPERTY
Total
£   
FAIR VALUE
At 1 April 2023 6,796,279
Disposals (33,356 )
Revaluations 587,077
At 31 March 2024 7,350,000
NET BOOK VALUE
At 31 March 2024 7,350,000
At 31 March 2023 6,796,279

The investment properties are valued annually by the directors on an open market existing use basis.

The historical cost of the investment properties amount to £5,372,206 (2023 - £5,376,206).

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.3.24 31.3.23
£    £   
Trade debtors 112,017 70,580
Other debtors 1,028,123 1,038,116
1,140,140 1,108,696

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.3.24 31.3.23
£    £   
Bank loans and overdrafts 10,296 9,734
Taxation and social security 71,069 -
Other creditors 2,503,832 1,507,713
2,585,197 1,517,447

8. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
31.3.24 31.3.23
£    £   
Bank loans 790,966 1,332,313

9. LEASING AGREEMENTS

Minimum lease payments under non-cancellable operating leases fall due as follows:
31.3.24 31.3.23
£    £   
Within one year 9,311 -

Ashburn Limited (Registered number: 01602919)

Notes to the Financial Statements - continued
for the Year Ended 31 March 2024

10. SECURED DEBTS

The following secured debts are included within creditors:

31.3.24 31.3.23
£    £   
Bank loans 801,262 -

The loan is secured over the assets of the company by way of fixed and floating charges.

11. PROVISIONS FOR LIABILITIES
31.3.24 31.3.23
£    £   
Deferred tax 381,195 239,205

Deferred
tax
£   
Balance at 1 April 2023 239,205
Provided during year 141,990
Balance at 31 March 2024 381,195

12. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 31.3.24 31.3.23
value: £    £   
100 Ordinary shares £1 100 100

13. RESERVES
Fair
Retained value
earnings reserve Totals
£    £    £   

At 1 April 2023 3,687,320 1,180,869 4,868,189
Profit for the year 644,157 - 644,157
Revaluation of property (587,077 ) 587,077 -
Deferred tax provision 141,990 (141,990 ) -
Transfer on realised profit 29,356 (29,356 ) -
At 31 March 2024 3,915,746 1,596,600 5,512,346

14. ULTIMATE CONTROLLING PARTY

For the whole year, Goodricke International Limited is the immediate parent company. Manaclo Trust are the shareholders of Goodricke International Limited and are the company's ultimate controlling party.