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Registered number: 04856193













ASPIRE FULHAM LIMITED
UNAUDITED

FINANCIAL STATEMENTS

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


 
ASPIRE FULHAM LIMITED
REGISTERED NUMBER:04856193


BALANCE SHEET
AS AT 31 MARCH 2024

2024
2023
Note
£
£

Fixed assets
  

Tangible assets
 4 
24,190
10,165

Investments
 5 
200
200

  
24,390
10,365

Current assets
  

Debtors: amounts falling due within one year
 6 
1,959,750
1,254,313

Cash at bank and in hand
  
244,666
445,486

  
2,204,416
1,699,799

Creditors: amounts falling due within one year
 7 
(981,748)
(833,801)

Net current assets
  
 
 
1,222,668
 
 
865,998

Total assets less current liabilities
  
1,247,058
876,363

Creditors: amounts falling due after more than one year
 8 
-
(24,168)

  

Net assets
  
1,247,058
852,195


Capital and reserves
  

Called up share capital 
 9 
110
110

Capital redemption reserve
  
9
9

Profit and loss account
  
1,246,939
852,076

  
1,247,058
852,195


Page 1


 
ASPIRE FULHAM LIMITED
REGISTERED NUMBER:04856193

    
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 8 form part of these financial statements.

Page 2


 
ASPIRE FULHAM LIMITED
 

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

1.


General information

Aspire Fulham Limited is incorporated and domiciled in England and Wales.  The registered office is Harwood House, 43 Harwood Road, London, SW6 4QP. The principle place of business is 226 Munster Road, Fulham, London, SW6 6AZ. 

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

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 a reducing balance basis.

Depreciation is provided on the following basis:

Leasehold works
-
25% per annum on reducing balance
Motor vehicles
-
25% per annum on reducing balance
Fixtures & fittings
-
25% per annum on reducing balance

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.

 
2.4

Valuation of investments

Investments in subsidiaries are measured at cost less accumulated impairment.

Page 3


 
ASPIRE FULHAM LIMITED
 

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

2.Accounting policies (continued)

 
2.5

Dividends

Equity dividends are recognised when they become legally payable. Interim equity dividends are recognised when paid. Final equity dividends are recognised when approved by the shareholders at an annual general meeting.

 
2.6

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.

 
2.7

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.

 
2.8

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.

Page 4


 
ASPIRE FULHAM LIMITED
 

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

2.Accounting policies (continued)

 
2.9

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.


3.


Employees

The average monthly number of employees, including directors, during the year was 14 (2023 - 19).


4.


Tangible fixed assets





Leasehold works
Motor vehicles
Fixtures & fittings
Total

£
£
£
£



Cost or valuation


At 1 April 2023
73,207
2,144
140,689
216,040


Additions
-
22,090
-
22,090



At 31 March 2024

73,207
24,234
140,689
238,130



Depreciation


At 1 April 2023
72,483
939
132,454
205,876


Charge for the year on owned assets
181
5,824
2,059
8,064



At 31 March 2024

72,664
6,763
134,513
213,940



Net book value



At 31 March 2024
543
17,471
6,176
24,190



At 31 March 2023
724
1,206
8,235
10,165

Page 5


 
ASPIRE FULHAM LIMITED
 

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

5.


Fixed asset investments





Investments in subsidiary companies

£



Cost or valuation


At 1 April 2023
200



At 31 March 2024
200





Subsidiary undertaking


The following was a subsidiary undertaking of the Company:

Name

Registered office

Class of shares

Holding

Aspire Battersea Park Limited
Harwood House, 43 Harwood Road, London SW6 4QP
Ordinary
100%


6.


Debtors

2024
2023
£
£


Trade debtors
130,295
20,330

Amounts owed by group undertakings
1,811,654
1,205,952

Other debtors
770
494

Prepayments and accrued income
17,031
27,537

1,959,750
1,254,313


Page 6


 
ASPIRE FULHAM LIMITED
 

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

7.


Creditors: amounts falling due within one year

2024
2023
£
£

Bank loans
-
10,000

Trade creditors
42,583
81,568

Amounts owed to group undertakings
620,978
508,273

Corporation tax
148,960
41,690

Other taxation and social security
140,661
69,958

Other creditors
23,166
112,071

Accruals and deferred income
5,400
10,241

981,748
833,801



8.


Creditors: Amounts falling due after more than one year

2024
2023
£
£

Bank Loan
-
24,168

-
24,168



9.


Share capital

2024
2023
£
£
Allotted, called up and fully paid



10,955 (2023 - 10,955) Ordinary shares of £0.01 each
110
110





10.


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.

Page 7


 
ASPIRE FULHAM LIMITED
 

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

11.


Controlling party

At 31 March 2024 Aspire Estate Agents Limited controlled 100% of the ordinary share capital of Aspire Fulham 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 8