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Registered number: 04821905













ASPIRE BALHAM LIMITED
UNAUDITED

FINANCIAL STATEMENTS

INFORMATION FOR FILING WITH THE REGISTRAR
FOR THE YEAR ENDED 31 MARCH 2024


 
ASPIRE BALHAM LIMITED
REGISTERED NUMBER:04821905


BALANCE SHEET
AS AT 31 MARCH 2024

2024
2023
Note
£
£

Fixed assets
  

Tangible assets
 5 
27,568
33,223

  
27,568
33,223

Current assets
  

Debtors: amounts falling due within one year
 6 
1,521,719
1,356,066

Cash at bank and in hand
  
124,571
123,775

  
1,646,290
1,479,841

Creditors: amounts falling due within one year
 7 
(1,063,339)
(968,136)

Net current assets
  
 
 
582,951
 
 
511,705

Total assets less current liabilities
  
610,519
544,928

  

Net assets
  
610,519
544,928


Capital and reserves
  

Called up share capital 
 8 
200
200

Profit and loss account
  
610,319
544,728

  
610,519
544,928


Page 1


 
ASPIRE BALHAM LIMITED
REGISTERED NUMBER:04821905

    
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 comprehensive income 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 on 10 October 2024.




................................................
M G J Dabell
Director

The notes on pages 3 to 7 form part of these financial statements.

Page 2


 
ASPIRE BALHAM LIMITED
 

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

1.


General information

Aspire Balham Limited is incorporated under company number 04821905 and domiciled in England and Wales.  The registered office is Harwood House, 43 Harwood Road, London, SW6 4QP. The principal place of business is 132 Balham High Road, London, SW12 9AA.

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

Revenue

Revenue is recognised to the extent that it is probable that the economic benefits will flow to the Company and the revenue can be reliably measured. Revenue is measured as the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

 
2.3

Operating leases: the Company as lessee

Rentals paid under operating leases are charged to profit or loss on a straight-line basis over the lease term.

 
2.4

Pensions

Defined contribution pension plan

The Company operates a defined contribution plan for its employees. A defined contribution plan is a pension plan under which the Company pays fixed contributions into a separate entity. Once the contributions have been paid the Company has no further payment obligations.

The contributions are recognised as an expense in profit or loss when they fall due. Amounts not paid are shown in accruals as a liability in the Balance Sheet. The assets of the plan are held separately from the Company in independently administered funds.

Page 3


 
ASPIRE BALHAM LIMITED
 

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

2.Accounting policies (continued)

 
2.5

Taxation

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

Tangible fixed assets

Tangible fixed assets under the cost model are stated at historical cost less accumulated depreciation and any accumulated impairment losses. Historical cost includes expenditure that is directly attributable to bringing the asset to the location and condition necessary for it to be capable of operating in the manner intended by management.

Depreciation is charged so as to allocate the cost of assets less their residual value over their estimated useful lives, on bases as noted below.

Depreciation is provided on the following basis:

Leasehold improvements
-
over the term of the lease
Fixtures & fittings
-
20% on written down value

The assets' residual values, useful lives and depreciation methods are reviewed, and adjusted prospectively if appropriate, or if there is an indication of a significant change since the last reporting date.

Gains and losses on disposals are determined by comparing the proceeds with the carrying amount and are recognised in profit or loss.

 
2.7

Financial instruments

The Company only enters into basic financial instrument transactions that result in the recognition of financial assets and liabilities like trade and other debtors and creditors, loans from banks and other third parties and loans with related parties.

Page 4


 
ASPIRE BALHAM LIMITED
 

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

3.


Other operating income

2024
2023
£
£

Net rents receivable
25,500
24,750

25,500
24,750



4.


Employees

The average monthly number of employees, including directors, during the year was 7 (2023 - 7).


5.


Tangible fixed assets





Leasehold improvements
Fixtures & fittings
Total

£
£
£



Cost or valuation


At 1 April 2023
358,490
71,563
430,053



At 31 March 2024

358,490
71,563
430,053



Depreciation


At 1 April 2023
328,795
68,035
396,830


Charge for the year on owned assets
4,950
705
5,655



At 31 March 2024

333,745
68,740
402,485



Net book value



At 31 March 2024
24,745
2,823
27,568



At 31 March 2023
29,695
3,528
33,223

Page 5


 
ASPIRE BALHAM LIMITED
 

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

6.


Debtors

2024
2023
£
£


Trade debtors
31,081
22,854

Amounts owed by group undertakings
1,452,288
1,289,121

Other debtors
21,250
22,000

Prepayments and accrued income
17,100
22,091

1,521,719
1,356,066



7.


Creditors: Amounts falling due within one year

2024
2023
£
£

Trade creditors
26,548
38,542

Amounts owed to group undertakings
990,200
862,583

Corporation tax
25,867
33,642

Other taxation and social security
15,072
27,877

Accruals and deferred income
5,652
5,492

1,063,339
968,136



8.


Share capital

2024
2023
£
£
Allotted, called up and fully paid



200  Ordinary shares of £1.00 each
200
200



9.


Pension commitments

The Company operates a defined contribution pension scheme. The assets of the scheme are held separately from those of the Company in an independently administered fund. The pension cost charge represents contributions payable by the Company to the fund and amounted to £6,101 (2023 - £4,574). Contributions totalling £1,752 (2023 - £1,593) were payable to the fund at the balance sheet date and are included in creditors.

Page 6


 
ASPIRE BALHAM LIMITED
 

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

10.


Commitments under operating leases

At 31 March 2024 the Company had future minimum lease payments due under non-cancellable operating leases for each of the following periods:

2024
2023
£
£


Not later than 1 year
85,000
85,000

Later than 1 year and not later than 5 years
340,000
340,000

Later than 5 years
595,000
680,000

1,020,000
1,105,000


11.


Related party transactions

Under the terms of a Debenture dated 2 November 2020 the company provided security by way of a first fixed and floating charge over all of the company assets  to certain lenders of the parent company, Aspire Estate Agents Limited. The Debenture was in place at 31 March 2024 but was satisfied on 20 June 2024 as  the relevant loan notes in Aspire Estate Agents Limited had been repaid in full.


12.


Controlling party

At 31 March 2024 Aspire Estate Agents Limited indirectly controlled 100% of the ordinary share capital of Aspire Balham Limited.  The registered office of Aspire Estate Agents Limited is Harwood House, 43 Harwood Road, London SW6 4QP and it's company number is 12955225.

 
Page 7