Caseware UK (AP4) 2023.0.135 2023.0.135 2024-03-312024-03-312023-04-01true3falseNo description of principal activity3trueThe members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.false 03329024 2023-04-01 2024-03-31 03329024 2022-04-01 2023-03-31 03329024 2024-03-31 03329024 2023-03-31 03329024 c:Director4 2023-04-01 2024-03-31 03329024 d:FreeholdInvestmentProperty 2024-03-31 03329024 d:FreeholdInvestmentProperty 2023-03-31 03329024 d:CurrentFinancialInstruments 2024-03-31 03329024 d:CurrentFinancialInstruments 2023-03-31 03329024 d:CurrentFinancialInstruments d:WithinOneYear 2024-03-31 03329024 d:CurrentFinancialInstruments d:WithinOneYear 2023-03-31 03329024 d:ShareCapital 2024-03-31 03329024 d:ShareCapital 2023-03-31 03329024 d:RetainedEarningsAccumulatedLosses 2024-03-31 03329024 d:RetainedEarningsAccumulatedLosses 2023-03-31 03329024 c:FRS102 2023-04-01 2024-03-31 03329024 c:AuditExempt-NoAccountantsReport 2023-04-01 2024-03-31 03329024 c:FullAccounts 2023-04-01 2024-03-31 03329024 c:PrivateLimitedCompanyLtd 2023-04-01 2024-03-31 03329024 d:OtherDeferredTax 2024-03-31 03329024 d:OtherDeferredTax 2023-03-31 03329024 2 2023-04-01 2024-03-31 03329024 e:PoundSterling 2023-04-01 2024-03-31 iso4217:GBP xbrli:pure

Registered number: 03329024









ASHCREST INVESTMENT PROPERTY CO. LIMITED







UNAUDITED

FINANCIAL STATEMENTS

INFORMATION FOR FILING WITH THE REGISTRAR

FOR THE YEAR ENDED 31 MARCH 2024

 
ASHCREST INVESTMENT PROPERTY CO. LIMITED
REGISTERED NUMBER: 03329024

BALANCE SHEET
AS AT 31 MARCH 2024

2024
2023
Note
£
£

Fixed assets
  

Investment property
 4 
490,000
490,000

  
490,000
490,000

Current assets
  

Cash at bank and in hand
 5 
38,766
29,348

  
38,766
29,348

Creditors: amounts falling due within one year
 6 
(43,830)
(43,723)

Net current liabilities
  
 
 
(5,064)
 
 
(14,375)

Total assets less current liabilities
  
484,936
475,625

Provisions for liabilities
  

Deferred tax
 7 
(92,535)
(92,535)

  
 
 
(92,535)
 
 
(92,535)

Net assets
  
392,401
383,090


Capital and reserves
  

Called up share capital 
  
2
2

Profit and loss account
  
392,399
383,088

  
392,401
383,090


Page 1

 
ASHCREST INVESTMENT PROPERTY CO. LIMITED
REGISTERED NUMBER: 03329024
    
BALANCE SHEET (CONTINUED)
AS AT 31 MARCH 2024

The directors consider that the Company is entitled to exemption from audit under section 477 of the Companies Act 2006 and members have not required the Company to obtain an audit for the year in question in accordance with section 476 of the Companies Act 2006.

The directors acknowledge their 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 provisions applicable to companies subject to the small companies regime and in accordance with the provisions of FRS 102 Section 1A - small entities.

The financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime.

The Company has opted not to file the statement of income and retained earnings in accordance with provisions applicable to companies subject to the small companies' regime.

The financial statements were approved and authorised for issue by the board and were signed on its behalf by: 




................................................
T Primack
Director
Date: 2 October 2024

The notes on pages 3 to 6 form part of these financial statements.

Page 2

 
ASHCREST INVESTMENT PROPERTY CO. LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024

1.


General information

Ashcrest Investment Property Co. Limited is a company limited by shares incorporated in England within the United Kingdom. The address of the registered office is First Floor, Radius House, 51 Clarendon Road, Watford, WD17 1HP. The company's principal activity is that of a property holding company.
The financial statements are presented in sterling which is the functional currency of the company and rounded to the nearest £.
The significant accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all years presented unless otherwise stated. 

2.Accounting policies

 
2.1

Basis of preparation of financial statements

The financial statements have been prepared under the historical cost convention unless otherwise specified within these accounting policies and in accordance with FRS 102 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland' and the requirements of the Companies Act 2006. The disclosure requirements of Section 1A of FRS 102 have been applied other than where additional disclosure is required to show a true and fair view.

The following principal accounting policies have been applied:

 
2.2

Turnover

Turnover comprises rents received by the company during the year.
Turnover is recognised in the period the rent relates to.. 

 
2.3

Interest income

Interest income is recognised in profit or loss using the effective interest method.

 
2.4

Borrowing costs

All borrowing costs are recognised in profit or loss in the year in which they are incurred.

Page 3

 
ASHCREST INVESTMENT PROPERTY CO. LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024

2.Accounting policies (continued)

 
2.5

Current and deferred taxation

The tax expense for the year comprises current and deferred tax. Tax is recognised in profit or loss except that a charge attributable to an item of income and expense recognised as other comprehensive income or to an item recognised directly in equity is also recognised in other comprehensive income or directly in equity respectively.

The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the balance sheet date in the countries where the Company operates and generates income.

Deferred tax balances are recognised in respect of all timing differences that have originated but not reversed by the balance sheet date, except that:
The recognition of deferred tax assets is limited to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits; and
Any deferred tax balances are reversed if and when all conditions for retaining associated tax allowances have been met.

Deferred tax balances are not recognised in respect of permanent differences except in respect of business combinations, when deferred tax is recognised on the differences between the fair values of assets acquired and the future tax deductions available for them and the differences between the fair values of liabilities acquired and the amount that will be assessed for tax. Deferred tax is determined using tax rates and laws that have been enacted or substantively enacted by the balance sheet date.

 
2.6

Investment property

Investment property is carried at fair value determined annually by the directors and derived from the
current market rents and investment property yields for comparable real estate, adjusted if
necessary for any difference in the nature, location or condition of the specific asset. No depreciation
is provided. Changes in fair value are recognised in the Statement of income and retained earnings.

 
2.7

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.

 
2.8

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.

Page 4

 
ASHCREST INVESTMENT PROPERTY CO. LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024

2.Accounting policies (continued)

 
2.9

Provisions for liabilities

Provisions are recognised when an event has taken place that gives rise to a legal or constructive obligation, a transfer of economic benefits is probable and a reliable estimate can be made.
Provisions are measured as the best estimate of the amount required to settle the obligation, taking into account the related risks and uncertainties.
 
Increases in provisions are generally charged as an expense to profit or loss.


3.


Employees




The average monthly number of employees, including directors, during the year was 3 (2023 - 3).


4.


Investment property


Freehold investment property

£



Valuation


At 1 April 2023
490,000



At 31 March 2024
490,000

The 2024 valuations were made by the Directors, on an open market value for existing use basis.







5.


Cash and cash equivalents

2024
2023
£
£

Cash at bank and in hand
38,766
29,348

38,766
29,348


Page 5

 
ASHCREST INVESTMENT PROPERTY CO. LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024

6.


Creditors: Amounts falling due within one year

2024
2023
£
£

Other loans
40,402
40,402

Corporation tax
2,181
2,131

Other creditors
50
50

Accruals and deferred income
1,197
1,140

43,830
43,723



7.


Deferred taxation




2024


£






At beginning of year
(92,535)



At end of year
(92,535)

The provision for deferred taxation is made up as follows:

2024
2023
£
£


Potential gain on disposal of indexed properties
(92,535)
(92,535)

(92,535)
(92,535)

 
Page 6