REGISTERED NUMBER: |
UNAUDITED FINANCIAL STATEMENTS |
FOR THE PERIOD 26 OCTOBER 2022 TO 31 MARCH 2024 |
FOR |
ASPLEY GROUP HOLDINGS LIMITED |
REGISTERED NUMBER: |
UNAUDITED FINANCIAL STATEMENTS |
FOR THE PERIOD 26 OCTOBER 2022 TO 31 MARCH 2024 |
FOR |
ASPLEY GROUP HOLDINGS LIMITED |
ASPLEY GROUP HOLDINGS LIMITED (REGISTERED NUMBER: 14445132) |
CONTENTS OF THE FINANCIAL STATEMENTS |
for the Period 26 October 2022 to 31 March 2024 |
Page |
Company Information | 1 |
Abridged Balance Sheet | 2 |
Notes to the Financial Statements | 4 |
Chartered Certified Accountants' Report | 8 |
ASPLEY GROUP HOLDINGS LIMITED |
COMPANY INFORMATION |
for the Period 26 October 2022 to 31 March 2024 |
DIRECTORS: |
REGISTERED OFFICE: |
REGISTERED NUMBER: |
ACCOUNTANTS: |
Chartered Certified Accountants |
6 Partridge Lane |
Bromham |
Bedford |
Bedfordshire |
MK43 8PQ |
ASPLEY GROUP HOLDINGS LIMITED (REGISTERED NUMBER: 14445132) |
ABRIDGED BALANCE SHEET |
31 March 2024 |
Notes | £ | £ |
FIXED ASSETS |
Tangible assets | 4 |
Investment property | 5 |
CURRENT ASSETS |
Debtors |
Cash at bank |
CREDITORS |
Amounts falling due within one year |
NET CURRENT LIABILITIES | ( |
) |
TOTAL ASSETS LESS CURRENT LIABILITIES |
CREDITORS |
Amounts falling due after more than one year |
6 |
NET ASSETS |
CAPITAL AND RESERVES |
Called up share capital | 7 |
Share premium | 8 |
Retained earnings | 8 |
SHAREHOLDERS' FUNDS |
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. |
ASPLEY GROUP HOLDINGS LIMITED (REGISTERED NUMBER: 14445132) |
ABRIDGED BALANCE SHEET - continued |
31 March 2024 |
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 |
ASPLEY GROUP HOLDINGS LIMITED (REGISTERED NUMBER: 14445132) |
NOTES TO THE FINANCIAL STATEMENTS |
for the Period 26 October 2022 to 31 March 2024 |
1. | STATUTORY INFORMATION |
Aspley Group Holdings Limited is a |
The presentation currency of the financial statements is the Pound Sterling (£). |
2. | ACCOUNTING POLICIES |
Basis of preparing the financial statements |
Critical accounting judgements and key sources of estimation uncertainty |
In the application of the Company's accounting policies, which are described above, the directors are required to make judgements, estimates and assumptions about the carrying amounts of assets and liabilities that are not readily apparent from other sources. |
Estimates and judgements are continually evaluated and are based on historical experience and other factors, including expectations of future events that are believed to be reasonable under the circumstances. |
Critical judgements in applying the Company's accounting policies |
The directors do not consider there to be any critical accounting judgements that must be applied. |
Key accounting estimates and assumptions |
The company makes estimates and assumptions concerning the future. The resulting accounting estimates will, by definition, seldom equal the related actual results. The directors do not consider there to be any estimates or assumptions that have significant risk of causing a material adjustment to the carrying amounts of assets and liabilities within the next financial year. |
Related party exemption |
The company has taken advantage of exemption, under the terms of Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland', not to disclose related party transactions with wholly owned subsidiaries within the group. |
Rental income and debtors |
Rental income from leases is credited to the Income Statement on a straight line basis over the term of the relevant lease. |
Amounts paid and payable as an incentive to sign an operating lease are recognised as a reduction to income over the lease term on a straight line basis, unless another systematic basis is representative of the time pattern over which the lessor's benefit from the asset is diminished. |
Short term debtors are measured at transaction price, less any impairment. Loans receivable are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective method, less any impairment. |
Tangible fixed assets |
Plant and machinery were acquired at residuals values and therefore no further write down has been applied. Residual values will be reviewed by the directors' on an annual basis. |
ASPLEY GROUP HOLDINGS LIMITED (REGISTERED NUMBER: 14445132) |
NOTES TO THE FINANCIAL STATEMENTS - continued |
for the Period 26 October 2022 to 31 March 2024 |
2. | ACCOUNTING POLICIES - continued |
Investment property |
Investment property is shown at most recent valuation. Any aggregate surplus or deficit arising from changes in fair value is recognised in profit or loss. |
Taxation |
Taxation for the period 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 period 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. |
Creditors |
Short term creditors are measured at the transaction price. Other financial liabilities, including bank loans, are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method. |
Cash and cash equivalents |
Cash is represented by cash in hand and deposits with financial institutions repayable without penalty on notice of not more than 24 hours. Cash equivalents are highly liquid investments that mature in no more than three months from the date of acquisition and that are readily convertible to known amounts of cash with insignificant risk of change in value. |
Provisions for liabilities |
Provisions are made where an event has taken place that gives the company a legal or constructive obligation that probably requires settlement by a transfer of economic benefit, and a reliable estimate can be made of the amount of the obligation |
Provisions are charged as an expense to the Income Statement in the year that the company becomes aware of the obligation, and are measured at the best estimate at the Balance Sheet date of the expenditure required to settle the obligation, taking into account relevant risks and uncertainties. |
When payments are eventually made, they are charged to the provision carried in the Balance Sheet. |
3. | EMPLOYEES AND DIRECTORS |
The average number of employees during the period was |
ASPLEY GROUP HOLDINGS LIMITED (REGISTERED NUMBER: 14445132) |
NOTES TO THE FINANCIAL STATEMENTS - continued |
for the Period 26 October 2022 to 31 March 2024 |
4. | TANGIBLE FIXED ASSETS |
Totals |
£ |
COST |
Additions |
At 31 March 2024 |
NET BOOK VALUE |
At 31 March 2024 |
5. | INVESTMENT PROPERTY |
Total |
£ |
FAIR VALUE |
Additions |
At 31 March 2024 |
NET BOOK VALUE |
At 31 March 2024 |
Investment Properties were introduced to the company at market value. The properties were professionally valued by Sherwill Drake Forbes Chartered Surveyors on 14th January 2023. |
6. | CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN FIVE YEARS |
£ |
Repayable by instalments |
Bank loans more 5 yr by instal | 1,767,369 |
The bank loan is secured on the properties controlled by the company. |
7. | CALLED UP SHARE CAPITAL |
Allotted, issued and fully paid: |
Number: | Class: | Nominal |
value: | £ |
Ordinary | 1 | 200 |
The company has one class of ordinary shares which carry voting rights but no right to fixed income. |
On incorporation 2 Ordinary shares were allotted as fully paid at par value. |
On 1 August 2023 198 Ordinary shares were allotted as fully paid a premium of 48,084 per share. |
ASPLEY GROUP HOLDINGS LIMITED (REGISTERED NUMBER: 14445132) |
NOTES TO THE FINANCIAL STATEMENTS - continued |
for the Period 26 October 2022 to 31 March 2024 |
8. | RESERVES |
Retained | Share |
earnings | premium | Totals |
£ | £ | £ |
Profit for the period | - |
Cash share issue | - | 9,520,676 | 9,520,676 |
At 31 March 2024 | 9,706,921 |
9. | ULTIMATE CONTROLLING PARTY |
The controlling party is Aspley Group LLP. |
A Barrett and J Barrett are the Ultimate Controlling Parties. |
Included in other creditors is amounts owing to A Barrett £2,068,200. and J Barrett £1,998,747. |
10. | COMMITMENTS UNDER OPERATING LEASES AS A LESSOR |
At 31 March 2024, the company had future minimum lease payments receivable under non cancellable operating leases as follows: |
Not later than 1 year £736,776 |
Later than 1 year and not later than 5 years £51,170 |
11. | ACQUISITION OF ASPLEY GROUP LLP |
“On 1 August 2023, Aspley Group Holdings Limited (“the company”) acquired the entire business of |
Aspley Group LLP (“the LLP”, CRN: OC444339) in consideration for the issue of new shares in the company.” |
CHARTERED CERTIFIED ACCOUNTANTS' REPORT TO THE BOARD OF DIRECTORS |
ON THE UNAUDITED FINANCIAL STATEMENTS OF |
ASPLEY GROUP HOLDINGS LIMITED |
The following reproduces the text of the report prepared for the directors in respect of the company's annual unaudited financial statements. In accordance with the Companies Act 2006, the company is only required to file a Balance Sheet. Readers are cautioned that the Income Statement and certain other primary statements and the Report of the Directors are not required to be filed with the Registrar of Companies. |
In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the financial statements of Aspley Group Holdings Limited for the period ended 31 March 2024 which comprise the Income Statement, Abridged Balance Sheet, Statement of Changes in Equity 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 Association of Chartered Certified Accountants, we are subject to its ethical and other professional requirements which are detailed at http://www.accaglobal.com/rulebook. |
This report is made solely to the Board of Directors of Aspley Group Holdings Limited, as a body, in accordance with our terms of engagement. Our work has been undertaken solely to prepare for your approval the financial statements of Aspley Group Holdings Limited and state those matters that we have agreed to state to the Board of Directors of Aspley Group Holdings Limited, as a body, in this report in accordance with the requirements of the Association of Chartered Certified Accountants as detailed at http://www.accaglobal.com/factsheet163. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than the company and its Board of Directors, as a body, for our work or for this report. |
It is your duty to ensure that Aspley Group Holdings Limited has kept adequate accounting records and to prepare statutory financial statements that give a true and fair view of the assets, liabilities, financial position and profit of Aspley Group Holdings Limited. You consider that Aspley Group Holdings Limited is exempt from the statutory audit requirement for the period. |
We have not been instructed to carry out an audit or a review of the financial statements of Aspley Group Holdings 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 statutory financial statements. |
Chartered Certified Accountants |
6 Partridge Lane |
Bromham |
Bedford |
Bedfordshire |
MK43 8PQ |