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REGISTERED NUMBER: 09223798 (England and Wales)










UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MARCH 2024

FOR

ASHBEE ESTATES LIMITED

ASHBEE ESTATES LIMITED (REGISTERED NUMBER: 09223798)

CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024










Page

Balance Sheet 1

Notes to the Financial Statements 2


ASHBEE ESTATES LIMITED (REGISTERED NUMBER: 09223798)

BALANCE SHEET
31 MARCH 2024

2024 2023
Notes £    £    £    £   
FIXED ASSETS
Investment property 4 8,912,224 9,345,650

CURRENT ASSETS
Debtors 5 96,043 115,868
Cash at bank 183,462 46,917
279,505 162,785
CREDITORS
Amounts falling due within one year 6 789,068 827,708
NET CURRENT LIABILITIES (509,563 ) (664,923 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

8,402,661

8,680,727

CREDITORS
Amounts falling due after more than one
year

7

(5,433,285

)

(5,433,285

)

PROVISIONS FOR LIABILITIES 10 - (97,518 )
NET ASSETS 2,969,376 3,149,924

CAPITAL AND RESERVES
Called up share capital 2,215,270 2,215,270
Fair value reserve 139,260 227,135
Retained earnings 614,846 707,519
2,969,376 3,149,924

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 director acknowledges his 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.

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 director and authorised for issue on 3 September 2024 and were signed by:




J K Dalberg - Director


ASHBEE ESTATES LIMITED (REGISTERED NUMBER: 09223798)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024


1. STATUTORY INFORMATION

Ashbee Estates Limited is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address are as below:

Registered number: 09223798

Registered office: Atlas Chambers
33 West Street
Brighton
East Sussex
BN1 2RE

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


2. ACCOUNTING POLICIES

Basis of preparing the financial statements
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. The financial statements have been prepared under the historical cost convention as modified by the revaluation of certain assets.

Turnover
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Turnover represents rent earned by properties owned by the company.

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 and then transferred to a revaluation reserve.

Financial instruments
Debtors and creditors with no stated interest rate and receivable or payable within one year are recorded at transaction price. Any losses arising from impairment are recognised in the profit and loss account in other administrative expenses.

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.

3. EMPLOYEES

The average number of employees during the year was 2 (2023 - 2 ) .

ASHBEE ESTATES LIMITED (REGISTERED NUMBER: 09223798)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 MARCH 2024


4. INVESTMENT PROPERTY
Total
£   
FAIR VALUE
At 1 April 2023 9,345,650
Revaluations (433,426 )
At 31 March 2024 8,912,224
NET BOOK VALUE
At 31 March 2024 8,912,224
At 31 March 2023 9,345,650

Fair value at 31 March 2024 is represented by:
£   
Valuation in 2020 9,026
Valuation in 2023 315,627
Valuation in 2024 (433,426 )
Cost 9,020,997
8,912,224

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Trade debtors 4,677 15,100
Other debtors 89 -
Prepayments 91,277 100,768
96,043 115,868

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Trade creditors 7,731 2,029
Tax 61,465 39,348
Social security and other taxes 8,000 84
Other creditors 7,121 4,421
Directors' current accounts 618,050 668,468
Accruals and deferred income 86,701 113,358
789,068 827,708

7. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR
2024 2023
£    £   
Bank loans (see note 8) 5,433,285 5,433,285

Amounts falling due in more than five years:

Repayable otherwise than by instalments
Bank loans more 5 yrs non-inst 5,433,285 5,433,285

ASHBEE ESTATES LIMITED (REGISTERED NUMBER: 09223798)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 MARCH 2024


8. LOANS

An analysis of the maturity of loans is given below:

2024 2023
£    £   
Amounts falling due in more than five years:
Repayable otherwise than by instalments
Bank loans more 5 yrs non-inst 5,433,285 5,433,285

9. SECURED DEBTS

The following secured debts are included within creditors:

2024 2023
£    £   
Bank loans 5,433,285 5,433,285

The bank loans are secured on the investment properties.

10. PROVISIONS FOR LIABILITIES
2024 2023
£    £   
Deferred tax - 97,518

Deferred
tax
£   
Balance at 1 April 2023 97,518
Credit to Income Statement during year (97,518 )
Balance at 31 March 2024 -

11. RELATED PARTY DISCLOSURES


Companies under common control

Amounts
due from
£
Opening balance -
Amounts advanced 89
Amounts repaid -
Closing balance 89
This balance is included in debtors.