Company registration number 11693968
Aston Propco Limited
Unaudited Financial Statements
for the year ended 30 November 2023
Cavendish Bond
Chartered Accountants
Bentinck House
3 - 8 Bolsover Street
London
W1W 6AB
Aston Propco Limited
Financial statements for the year ended 30 November 2023
Chartered Accountants' report to the board of directors on the preparation of the unaudited financial statements of Aston Propco Limited for the year ended 30 November 2023
In order to assist you to fulfil your duties under the Companies Act 2006 we have prepared for your approval the financial statements of Aston Propco Limited for the year ended 30 November 2023, which comprise the Profit and Loss Account, the Balance Sheet and the related notes, from the company’s accounting records and from information and explanations you have given us.
As a practising member firm of the Institute of Chartered Accountants in England and Wales we are subject to its ethical and other professional requirements which are detailed at www.icaew.com/en/members/regulations-standards-and-guidance.
This report is made solely to the Board of Directors of Aston Propco Limited, as a body, in accordance with the terms of our engagement. Our work has been undertaken solely to prepare for your approval the financial statements of Aston Propco Limited and state those matters that we have agreed to state to the Board of Directors of Aston Propco Limited, as a body, in this report in accordance with ICAEW Technical Release 07/16 AAF. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than Aston Propco Limited and its Board of Directors, as a body, for our work or for this report.
It is your duty to ensure that Aston Propco Limited has kept adequate accounting records and to prepare financial statements that give a true and fair view of the assets, liabilities, financial position and profit or loss of Aston Propco Limited. You consider that Aston Propco Limited is exempt from the statutory audit requirement for the year.
We have not been instructed to carry out an audit or a review of the financial statements of Aston Propco Limited. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the financial statements.
Cavendish Bond
Chartered Accountants
Bentinck House
3 - 8 Bolsover Street
London
W1W 6AB
31 August 2024
Aston Propco Limited
Financial statements for the year ended 30 November 2023
Balance Sheet
Notes 2023 2022
£ £
Fixed assets
Tangible assets 3 9,070,000 9,195,000
Current assets
Debtors 4 136,078 139,876
Cash at bank and in hand 25,225 28,751
161,303 168,627
Creditors: amounts falling due within one year 5 (3,782,918) (3,381,039)
Net current liabilities (3,621,615) (3,212,412)
Total assets less current liabilities 5,448,385 5,982,588
Creditors: amounts falling due after more than one year 6 (5,737,158) (6,090,554)
Net liabilities (288,773) (107,966)
Capital and reserves
Called up share capital 1 1
Revaluation reserve 7 220,305 220,305
Profit and loss account (509,079) (328,272)
Shareholder's funds (288,773) (107,966)
The director is satisfied that the company is entitled to exemption from the requirement to obtain an audit under section 477 of the Companies Act 2006.
The member has not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The director acknowledges his responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.
The financial statements have been prepared in accordance with the special provisions for small companies within Part 15 of the Companies Act 2006. The company's profit and loss account for the year has not been delivered to the Registrar of Companies.
These financial statements were approved by the board on 31 August 2024 and are signed on its behalf by
B S Bakhshi
Director
Company registration number 11693968
Aston Propco Limited
Financial statements for the year ended 30 November 2023
Notes to the Financial Statements
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, as applicable to companies subject to the small entities regime.
Going concern
The director has reviewed the company's anticipated future cash requirements, and the cash resources available to it, and expects the company to be able to continue in operational existence for the foreseeable future. These financial statements have therefore been prepared on the going concern basis.
Turnover
Turnover comprises rental income from the company's investment properties and is recognised on a straight line basis over the term of the rental agreement.
Investment property
Investment property is initially recognised at cost and subsequently measured af fair value at each reporting date. Revaluation gains and losses are recognised in the profit and loss account. Revaluation gains are accumulated in a revaluation reserve until realised upon disposal of the corresponding property. Investment property is not depreciated.
Debtors
Short term debtors are measured at transaction price less any provision for bad and doubtful debts. Loans and other financial assets are initially recognised at fair value, taking account of any transaction costs, and are subsequently measured at amortised cost using the effective interest method, less any impairment losses.
Creditors
Short term creditors are measured at the transaction price. Loans and other financial liabilities are initially recognised at fair value, taking account of any transaction costs, and are subsequently measured at amortised cost 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.
Financial instruments
Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instrument is any contract that evidences a residual interest in the assets of the entity after deducting all of its liabilities.

Where the contractual obligations of financial instruments (including share capital) are equivalent to a similar debt instrument those financial instruments are classified as financial liabilities and are presented as such in the balance sheet.

Where the contractual terms of financial instruments do not meet the definition of a financial liability those financial instruments are classified as equity instruments. Dividends and other distributions relating to equity instruments are debited directly to equity.
2 Employees 2023 2022
Number Number
Average number of persons employed by the company - -
3 Tangible fixed assets
Investment property
£
Fair value
At 1 December 2022 9,195,000
Additions 14,730
Revaluation (139,730)
At 30 November 2023 9,070,000
Depreciation
At 30 November 2023 -
Net book value
At 30 November 2023 9,070,000
At 30 November 2022 9,195,000
The properties have been valued by the company's director by reference to market data.
4 Debtors 2023 2022
£ £
Trade debtors 11,577 13,747
Other debtors 124,501 126,129
136,078 139,876
5 Creditors: amounts falling due within one year 2023 2022
£ £
Trade creditors 4,370 430
Other creditors 3,778,548 3,380,609
3,782,918 3,381,039
6 Creditors: amounts falling due after one year 2023 2022
£ £
Bank loans 5,737,158 6,090,554
The bank loans are secured against the company's investment properties and are all repayable more than five years after the balance sheet date.
7 Revaluation reserve 2023 2022
£ £
At 1 December 2022 220,305 -
Gain on revaluation of investment property - 220,305
At 30 November 2023 220,305 220,305
8 Other information
Aston Propco Limited is a private company limited by shares and incorporated in England. Its registered office is:
23 Laurel Way
London
N20 8HS
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