Registered number
08812186
Aylestone Grange Ltd
Filleted Accounts
31 December 2023
Aylestone Grange Ltd
Registered number: 08812186
Balance Sheet
as at 31 December 2023
Notes 2023 2022
£ £
Fixed assets
Tangible assets 3 952,913 952,468
Current assets
Debtors 4 112,367 48,756
Cash at bank and in hand 66,822 179,792
179,189 228,548
Creditors: amounts falling due within one year 5 (188,404) (128,029)
Net current (liabilities)/assets (9,215) 100,519
Total assets less current liabilities 943,698 1,052,987
Creditors: amounts falling due after more than one year 6 (258,864) (282,987)
Provisions for liabilities (114,629) (114,518)
Net assets 570,205 655,482
Capital and reserves
Called up share capital 100 100
Revaluation reserve 8 432,290 432,290
Profit and loss account 137,815 223,092
Shareholders' funds 570,205 655,482
The directors are satisfied that the company is entitled to exemption from the requirement to obtain an audit under section 477 of the Companies Act 2006.
The members have not required the company to obtain an audit in accordance with section 476 of the Act.
The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts.
The accounts have been prepared and delivered in accordance with the special provisions applicable to companies subject to the small companies regime. The profit and loss account has not been delivered to the Registrar of Companies.
D Odedra
Director
Approved by the board on 10 September 2024
Aylestone Grange Ltd
Notes to the Accounts
for the year ended 31 December 2023
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 applied to small entities by section 1A of the standard).
Turnover
Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover includes revenue earned from the sale of goods and from the rendering of services. Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods have transferred to the buyer. Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs.
Intangible fixed assets
Intangible fixed assets are measured at cost less accumulative amortisation and any accumulative impairment losses.
Tangible fixed assets
Tangible fixed assets are measured at cost less accumulative depreciation and any accumulative impairment losses. Depreciation is provided on all tangible fixed assets, other than freehold land, at rates calculated to write off the cost, less estimated residual value, of each asset evenly over its expected useful life, as follows:
Freehold buildings not provided
Plant and machinery 10% reducing balance
Investments
Investments in subsidiaries, associates and joint ventures are measured at cost less any accumulated impairment losses. Listed investments are measured at fair value. Unlisted investments are measured at fair value unless the value cannot be measured reliably, in which case they are measured at cost less any accumulated impairment losses. Changes in fair value are included in the profit and loss account.
Stocks
Stocks are measured at the lower of cost and estimated selling price less costs to complete and sell. Cost is determined using the first in first out method. The carrying amount of stock sold is recognised as an expense in the period in which the related revenue is recognised.
Debtors
Short term debtors are measured at transaction price (which is usually the invoice price), less any impairment losses for bad and doubtful debts. Loans and other financial assets are initially recognised at transaction price including any transaction costs and subsequently measured at amortised cost determined using the effective interest method, less any impairment losses for bad and doubtful debts.
Creditors
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.
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.
Provisions
Provisions (ie liabilities of uncertain timing or amount) are recognised when there is an obligation at the reporting date as a result of a past event, it is probable that economic benefit will be transferred to settle the obligation and the amount of the obligation can be estimated reliably.
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 profit or loss.
Leased assets
A lease is classified as a finance lease if it transfers substantially all the risks and rewards incidental to ownership. All other leases are classified as operating leases. The rights of use and obligations under finance leases are initially recognised as assets and liabilities at amounts equal to the fair value of the leased assets or, if lower, the present value of the minimum lease payments. Minimum lease payments are apportioned between the finance charge and the reduction in the outstanding liability using the effective interest rate method. The finance charge is allocated to each period during the lease so as to produce a constant periodic rate of interest on the remaining balance of the liability. Leased assets are depreciated in accordance with the company's policy for tangible fixed assets. If there is no reasonable certainty that ownership will be obtained at the end of the lease term, the asset is depreciated over the lower of the lease term and its useful life. Operating lease payments are recognised as an expense on a straight line basis over the lease term.
Pensions
Contributions to defined contribution plans are expensed in the period to which they relate.
2 Employees 2023 2022
Number Number
Average number of persons employed by the company 22 20
3 Tangible fixed assets
Land and buildings Plant and machinery etc Total
£ £ £
Cost
At 1 January 2023 900,000 99,209 999,209
Additions - 6,324 6,324
At 31 December 2023 900,000 105,533 1,005,533
Depreciation
At 1 January 2023 - 46,741 46,741
Charge for the year - 5,879 5,879
At 31 December 2023 - 52,620 52,620
Net book value
At 31 December 2023 900,000 52,913 952,913
At 31 December 2022 900,000 52,468 952,468
Freehold land and buildings: 2023 2022
£ £
Historical cost 366,309 366,309
Cumulative depreciation based on historical cost 43,888 43,888
322,421 322,421
The Freehold land & buildings owned by the company was revalued in August 2016, at £900,000 by external qualified valuers, Peter Tew & Company, Chartered Surveyors.
4 Debtors 2023 2022
£ £
Trade debtors 29,383 36,089
Other debtors 82,984 12,667
112,367 48,756
5 Creditors: amounts falling due within one year 2023 2022
£ £
Bank loans 23,055 23,073
Trade creditors 10,757 4,039
Taxation and social security costs 96,818 56,086
Other creditors 57,774 44,831
188,404 128,029
6 Creditors: amounts falling due after one year 2023 2022
£ £
Bank loans 258,864 282,987
7 Loans 2023 2022
£ £
Creditors include:
Instalments falling due for payment after more than five years 189,340 190,784
Secured bank loans 281,919 306,060
Bank loans are secured by fixed charges over the assets of the company.
8 Revaluation reserve 2023 2022
£ £
At 1 January 2023 432,290 432,290
At 31 December 2023 432,290 432,290
9 Related party transactions
During the year the company had various transactions including dividends paid to Modhwadia Holdings Ltd, a company under under common control with controlling interest. The resultant related party debtor balance for the above transaction is included within other debtors due within one year £47,323 (2022 - £542 creditor).

During the year the company had various transactions including dividends paid to DAA Investments Ltd, a company under under common control with controlling interest. The resultant related party debtor balance for the above transaction is included within other debtors due within one year £27,776 (2022 - £Nil).
10 Other information
Aylestone Grange Ltd is a private company limited by shares and incorporated in England. Its registered office is:
705 -707 Aylestone Road
Leicester
Leicestershire
LE2 8TG
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