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Registration number: 02734903

Ashia Centur Ltd

Unaudited Filleted Abridged Financial Statements

for the Year Ended 31 December 2023

 

Ashia Centur Ltd

Contents

Cover page

1

Company Information

1

Abridged Balance Sheet

2 to 3

Notes to the Unaudited Abridged Financial Statements

4 to 7

 

Ashia Centur Ltd

Company Information

Directors

Mr Urvesh Sharad Patel

Mrs Lalitaben Sharad Patel

Mr Vijendra Sharad Patel

Miss Hasmita Sharad Patel

Registered office

119 Totteridge Lane
Totteridge
N20 8DZ

Accountants

Jani Taylor Associates Limited
Chartered Accountants, Advocates and Business Advisers
7 Marsh Close
Mill Hill
London
NW7 4NY

 

Ashia Centur Ltd

(Registration number: 02734903)
Abridged Balance Sheet as at 31 December 2023

Note

2023
£

2022
£

Fixed assets

 

Tangible assets

4

340,000,053

340,000,071

Current assets

 

Debtors

-

709

Cash at bank and in hand

 

787

1,240

 

787

1,949

Creditors: Amounts falling due within one year

(4,553,571)

(4,552,594)

Net current liabilities

 

(4,552,784)

(4,550,645)

Total assets less current liabilities

 

335,447,269

335,449,426

Accruals and deferred income

 

(900)

(1,800)

Net assets

 

335,446,369

335,447,626

Capital and reserves

 

Called up share capital

5

833,200

833,200

Revaluation reserve

339,835,000

339,835,000

Retained earnings

(5,221,831)

(5,220,574)

Shareholders' funds

 

335,446,369

335,447,626

For the financial year ending 31 December 2023 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Directors' responsibilities:

The members have not required the company to obtain an audit of its accounts for the year in question in accordance with section 476; and

The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

These financial statements have been prepared in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006.

These financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime. As permitted by section 444 (5A) of the Companies Act 2006, the directors have not delivered to the registrar a copy of the Profit and Loss Account.

Approved and authorised by the Board on 16 September 2024 and signed on its behalf by:
 

 

Ashia Centur Ltd

(Registration number: 02734903)
Abridged Balance Sheet as at 31 December 2023

.........................................
Mr Vijendra Sharad Patel
Director

 

Ashia Centur Ltd

Notes to the Unaudited Abridged Financial Statements for the Year Ended 31 December 2023

1

General information

The company is a private company limited by share capital, incorporated in England.

The address of its registered office is:
119 Totteridge Lane
Totteridge
N20 8DZ
United Kingdom

These financial statements were authorised for issue by the Board on 16 September 2024.

2

Accounting policies

Summary of significant accounting policies and key accounting estimates

The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.

Statement of compliance

These abridged financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A smaller entities - 'The Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland' and the Companies Act 2006 (as applicable to companies subject to the small companies' regime).

Basis of preparation

These abridged financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.

Going concern

The financial statements have been prepared on a going concern basis.

Tangible assets

Tangible assets are stated in the balance sheet at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.

The cost of tangible assets includes directly attributable incremental costs incurred in their acquisition and installation.

Depreciation

Depreciation is charged so as to write off the cost of assets, other than land and properties under construction over their estimated useful lives, as follows:

Asset class

Depreciation method and rate

Plant & Machinery

25 % on a reducing balance basis

Furniture & Fittings

25 % on a reducing balance basis

Office Equipment

25% on a reducing balance basis

 

Ashia Centur Ltd

Notes to the Unaudited Abridged Financial Statements for the Year Ended 31 December 2023

Cash and cash equivalents

Cash and cash equivalents comprise cash on hand and call deposits, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value.

Trade debtors

Trade debtors are amounts due from customers for merchandise sold or services performed in the ordinary course of business.

Trade debtors are recognised initially at the transaction price. They are subsequently measured at amortised cost using the effective interest method, less provision for impairment. A provision for the impairment of trade debtors is established when there is objective evidence that the company will not be able to collect all amounts due according to the original terms of the receivables.

Trade creditors

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Accounts payable are classified as current liabilities if the company does not have an unconditional right, at the end of the reporting period, to defer settlement of the creditor for at least twelve months after the reporting date. If there is an unconditional right to defer settlement for at least twelve months after the reporting date, they are presented as non-current liabilities.

Trade creditors are recognised initially at the transaction price and subsequently measured at amortised cost using the effective interest method.

Share capital

Ordinary shares are classified as equity. Equity instruments are measured at the fair value of the cash or other resources received or receivable, net of the direct costs of issuing the equity instruments. If payment is deferred and the time value of money is material, the initial measurement is on a present value basis.

3

Staff numbers

The average number of persons employed by the company (including directors) during the year, was 4 (2022 - 4).

 

Ashia Centur Ltd

Notes to the Unaudited Abridged Financial Statements for the Year Ended 31 December 2023

4

Tangible assets

Land and buildings
£

Fixtures and fittings
£

Plant and machinery
£

Office equipment
£

Total
£

Cost or valuation

At 1 January 2023

340,000,000

1,608

15,767

2,506

340,019,881

At 31 December 2023

340,000,000

1,608

15,767

2,506

340,019,881

Depreciation

At 1 January 2023

-

1,607

15,767

2,436

19,810

Charge for the year

-

-

-

18

18

At 31 December 2023

-

1,607

15,767

2,454

19,828

Carrying amount

At 31 December 2023

340,000,000

1

-

52

340,000,053

At 31 December 2022

340,000,000

1

-

70

340,000,071

Included within the net book value of land and buildings above is £340,000,000 (2022 - £340,000,000) in respect of freehold land and buildings. This valuation was carried out in 2013.
 

5

Share capital

Allotted, called up and fully paid shares

2023

2022

No.

£

No.

£

Ordinary Share Capital of £1 each

833,200

833,200

833,200

833,200

       

6

Related party transactions

Summary of transactions with entities with joint control or significant interest

 

Ashia Centur Ltd

Notes to the Unaudited Abridged Financial Statements for the Year Ended 31 December 2023

Intermedia Productions Ltd is the company registered in Cayman Island (Company registeration number 9163)
.
Film Corporation of Kenya is a partnership registered in Kenya.

Both of the above entities are under the common control of the directors and their family.

 Intermedia Productions Ltd has advanced £500,000 interest free to the company on 28 January 2015 and it is repayable on demand.This debt has been novated by Intermedia Productions Ltd to Mr Vijendra PAtel and his family.

Film Corporation of Kenya has advanced £32,601 interest free to the company and is repayable on demand.

 

Summary of transactions with other related parties

Sums owed to family member of directors of the company.
 




 

Loans from related parties

2023

Entities with joint control or significant influence
£

Key management
£

Other related parties
£

Total
£

At start of period

532,601

542,179

3,477,814

4,552,594

Advanced

-

916

-

916

At end of period

532,601

543,095

3,477,814

4,553,510

2022

Entities with joint control or significant influence
£

Key management
£

Other related parties
£

Total
£

At start of period

532,601

93,442

3,479,814

4,105,857

Advanced

-

448,737

-

448,737

Repaid

-

-

(2,000)

(2,000)

At end of period

532,601

542,179

3,477,814

4,552,594

Terms of loans from related parties

Sums owed to Mr Vijendra Patel (£533,095) and Ms Lalitaben Sharad Patel (£10,000), directors of the company.
 Sums owed to Mr Sharad Patel, family member of directors of the company.