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Company Registration No. 09959806 (England and Wales)
Aspire Properties Holdings Limited Unaudited accounts for the year ended 31 January 2024
Aspire Properties Holdings Limited Unaudited accounts Contents
Page
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Aspire Properties Holdings Limited Company Information for the year ended 31 January 2024
Directors
Ivan Ellison Gabriella Ellison G ELLISON I ELLISON
Company Number
09959806 (England and Wales)
Registered Office
37 Studio 1 King Edwards Drive Harrogate North Yorkshire HG1 4HA United Kingdom
Accountants
RAE Business Services (Yorkshire) Limited First Floor 85 Great Portland Street London W1W 7LT
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Aspire Properties Holdings Limited Accountants' report
Accountants' report to the board of directors of Aspire Properties Holdings Limited on the preparation of the unaudited statutory accounts for the year ended 31 January 2024
In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the accounts of Aspire Properties Holdings Limited for the year ended 31 January 2024 as set out on pages 5 - 8 from the company's accounting records and from information and explanations you have given us.
This report is made solely to the Board of Directors of Aspire Properties Holdings Limited, as a body, in accordance with the terms of our engagement. Our work has been undertaken solely to prepare for your approval the accounts of Aspire Properties Holdings Limited and state those matters that we have agreed to state to them, as a body, in this report. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than Aspire Properties Holdings Limited and its Board of Directors as a body for our work or for this report.
It is your duty to ensure that Aspire Properties Holdings Limited has kept adequate accounting records and to prepare statutory accounts that give a true and fair view of the assets, liabilities, financial position and profit of Aspire Properties Holdings Limited. You consider that Aspire Properties Holdings Limited is exempt from the statutory audit requirement for the year.
We have not been instructed to carry out an audit or a review of the accounts of Aspire Properties Holdings Limited. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory accounts.
RAE Business Services (Yorkshire) Limited First Floor 85 Great Portland Street London W1W 7LT 22 October 2024
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Aspire Properties Holdings Limited Statement of financial position as at 31 January 2024
2024 
2023 
Notes
£ 
£ 
Fixed assets
Tangible assets
385,301 
382,333 
Investment property
1,562,000 
1,513,404 
1,947,301 
1,895,737 
Current assets
Debtors
14,199 
11,415 
Cash at bank and in hand
11,557 
24,156 
25,756 
35,571 
Creditors: amounts falling due within one year
(259,410)
(291,097)
Net current liabilities
(233,654)
(255,526)
Total assets less current liabilities
1,713,647 
1,640,211 
Creditors: amounts falling due after more than one year
(1,343,498)
(1,353,384)
Provisions for liabilities
Deferred tax
(25,680)
(12,163)
Net assets
344,469 
274,664 
Capital and reserves
Called up share capital
2 
2 
Revaluation reserve
77,042 
36,488 
Profit and loss account
267,425 
238,174 
Shareholders' funds
344,469 
274,664 
For the year ending 31 January 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies. The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
These accounts have been prepared and delivered 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 profit and loss account has not been delivered to the Registrar of Companies.
The financial statements were approved by the Board of Directors and authorised for issue on 28 October 2024 and were signed on its behalf by
Gabriella Ellison Director Company Registration No. 09959806
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Aspire Properties Holdings Limited Notes to the Accounts for the year ended 31 January 2024
1
Statutory information
Aspire Properties Holdings Limited is a private company, limited by shares, registered in England and Wales, registration number 09959806. The registered office is 37 Studio 1, King Edwards Drive, Harrogate, North Yorkshire, HG1 4HA, United Kingdom.
2
Compliance with accounting standards
The accounts have been prepared in accordance with the provisions of FRS 102 Section 1A Small Entities. There were no material departures from that standard.
3
Accounting policies
The principal accounting policies adopted in the preparation of the financial statements are set out below and have remained unchanged from the previous year, and also have been consistently applied within the same accounts.
Basis of preparation
The accounts have been prepared under the historical cost convention as modified by the revaluation of certain fixed assets.
Presentation currency
The accounts are presented in £ sterling.
Tangible fixed assets and depreciation
Tangible assets are included at cost less depreciation and impairment. Depreciation has been provided at the following rates in order to write off the assets over their estimated useful lives:
Fixtures & fittings
33% on cost
Computer equipment
33% on cost
Investment property
Investment property is included at market fair value. Gains are recognised in the income statement. Deferred taxation is provided on these gains at the rate expected to apply when the property is sold.
Deferred taxation
Deferred tax arises as a result of including items of income and expenditure in taxation computations in periods different from those in which they are included in the company's accounts. Deferred tax is provided in full on timing differences which result in an obligation to pay more (or less) tax at a future date, at the average tax rates that are expected to apply when the timing differences reverse, based on current tax rates and laws. Deferred tax assets and liabilities are not discounted.
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Aspire Properties Holdings Limited Notes to the Accounts for the year ended 31 January 2024
4
Tangible fixed assets
Land & buildings 
Fixtures & fittings 
Computer equipment 
Total 
£ 
£ 
£ 
£ 
Cost or valuation
At valuation 
At cost 
At cost 
At 1 February 2023
379,081 
25,949 
3,093 
408,123 
Revaluations
5,475 
- 
- 
5,475 
At 31 January 2024
384,556 
25,949 
3,093 
413,598 
Depreciation
At 1 February 2023
- 
24,030 
1,760 
25,790 
Charge for the year
- 
1,476 
1,031 
2,507 
At 31 January 2024
- 
25,506 
2,791 
28,297 
Net book value
At 31 January 2024
384,556 
443 
302 
385,301 
At 31 January 2023
379,081 
1,919 
1,333 
382,333 
5
Investment property
2024 
£ 
Fair value at 1 February 2023
1,513,404 
Net gain from fair value adjustments
48,596 
At 31 January 2024
1,562,000 
6
Debtors
2024 
2023 
£ 
£ 
Amounts falling due within one year
Other debtors
14,199 
11,415 
7
Creditors: amounts falling due within one year
2024 
2023 
£ 
£ 
Taxes and social security
8,651 
1,350 
Other creditors
64,885 
65,179 
Loans from directors
185,074 
223,268 
Accruals
800 
1,300 
259,410 
291,097 
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Aspire Properties Holdings Limited Notes to the Accounts for the year ended 31 January 2024
8
Creditors: amounts falling due after more than one year
2024 
2023 
£ 
£ 
Bank loans
1,343,498 
1,353,384 
Aggregate of amounts that fall due for payment after five years
1,319,468 
1,319,468 
In May 2020, the company received a Bounce Back Loan of £50,000, which is a 100% UK Government backed loan. Under the terms of the loan, the fees and interest incurred in the first 12 months are settled on behalf of the company by the UK Government. After the first 12 months, an interest rate of 2.5% is applicable. The initial length of the loan is for six years, with an option to extend to ten years under the Bounce Back Loan Scheme.
9
Deferred taxation
2024 
2023 
£ 
£ 
Revaluation of land and buildings
1,369 
- 
Revaluation of investment property
24,311 
12,163 
25,680 
12,163 
2024 
2023 
£ 
£ 
Provision at start of year
12,163 
- 
Charged to the profit and loss account
13,517 
12,163 
Provision at end of year
25,680 
12,163 
Comparatives have been restated for deferred tax on revaluation of investment properties.
10
Transactions with related parties
Included in current liabilities is a related company loan of £46,840 (2022 - nil) from LSN Solutions Ltd, a related company. The loan is interest-free and repayable on demand.
11
Average number of employees
During the year the average number of employees was 0 (2023: 0).
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