Silverfin false false 31/01/2024 01/02/2023 31/01/2024 A Agnew 01/08/2012 S Agnew 01/08/2012 28 October 2024 The principal activity of the Company continues to be property development.

Due to the ongoing London housing market uncertainties impacted by the war in Ukraine and the cost of living crisis, the directors have opted to continue to rent the remaining property. Once market conditions have improved, the remaining property will once again be marketed for sale. The Company's trading status remains one of development and sale. the short term strategy is a stop gap to ensure the maximisation of trading profit when the market is more favourable.
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Company No: 08164663 (England and Wales)

ASMEKE LIMITED

Unaudited Financial Statements
For the financial year ended 31 January 2024
Pages for filing with the registrar

ASMEKE LIMITED

Unaudited Financial Statements

For the financial year ended 31 January 2024

Contents

ASMEKE LIMITED

COMPANY INFORMATION

For the financial year ended 31 January 2024
ASMEKE LIMITED

COMPANY INFORMATION (continued)

For the financial year ended 31 January 2024
Directors A Agnew
S Agnew
Registered office 9 Donnington Park
85 Birdham Road
Chichester
PO20 7AJ
United Kingdom
Company number 08164663 (England and Wales)
Accountant Kreston Reeves LLP
9 Donnington Park
85 Birdham Road
Chichester
West Sussex
PO20 7AJ

ACCOUNTANTS' REPORT TO THE BOARD OF DIRECTORS ON THE PREPARATION OF
THE UNAUDITED STATUTORY FINANCIAL STATEMENTS OF ASMEKE LIMITED

For the financial year ended 31 January 2024

ACCOUNTANTS' REPORT TO THE BOARD OF DIRECTORS ON THE PREPARATION OF
THE UNAUDITED STATUTORY FINANCIAL STATEMENTS OF ASMEKE LIMITED (continued)

For the financial 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 financial statements of Asmeke Limited for the financial year ended 31 January 2024 which comprise the Balance Sheet and the related notes 1 to 7 from the Company’s accounting records and from information and explanations you have given us.

As a practising member firm of the Institute of Chartered Accountants in England and Wales (ICAEW), we are subject to its ethical and other professional requirements which are detailed at www.icaew.com/regulation.

It is your duty to ensure that Asmeke Limited has kept adequate accounting records and to prepare statutory financial statements that give a true and fair view of the assets, liabilities, financial position and profit of Asmeke Limited. You consider that Asmeke Limited is exempt from the statutory audit requirement for the financial year.

We have not been instructed to carry out an audit or a review of the financial statements of Asmeke 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 financial statements.

This report is made solely to the Board of Directors of Asmeke Limited, as a body, in accordance with the terms of our engagement letter. Our work has been undertaken solely to prepare for your approval the financial statements of Asmeke Limited and state those matters that we have agreed to state to the Board of Directors of Asmeke Limited, as a body, in this report in accordance with ICAEW Technical Release 07/16 AAF. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than Asmeke Limited and its Board of Directors as a body for our work or for this report.

Kreston Reeves LLP
Chartered Accountants

9 Donnington Park
85 Birdham Road
Chichester
West Sussex
PO20 7AJ

28 October 2024

ASMEKE LIMITED

BALANCE SHEET

As at 31 January 2024
ASMEKE LIMITED

BALANCE SHEET (continued)

As at 31 January 2024
Note 2024 2023
£ £
Current assets
Stocks 3 737,750 737,750
Debtors 4 432 392
Cash at bank and in hand 5 2 261
738,184 738,403
Creditors: amounts falling due within one year 6 ( 1,241,276) ( 1,264,735)
Net current liabilities (503,092) (526,332)
Total assets less current liabilities (503,092) (526,332)
Net liabilities ( 503,092) ( 526,332)
Capital and reserves
Called-up share capital 7 100 100
Profit and loss account ( 503,192 ) ( 526,432 )
Total shareholders' deficit ( 503,092) ( 526,332)

For the financial 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.

Directors' responsibilities:

The financial statements of Asmeke Limited (registered number: 08164663) were approved and authorised for issue by the Board of Directors on 28 October 2024. They were signed on its behalf by:

A Agnew
Director
ASMEKE LIMITED

NOTES TO THE FINANCIAL STATEMENTS

For the financial year ended 31 January 2024
ASMEKE LIMITED

NOTES TO THE FINANCIAL STATEMENTS

For the financial year ended 31 January 2024
1. Accounting policies

The principal accounting policies are summarised below. They have all been applied consistently throughout the financial year and to the preceding financial year, unless otherwise stated.

General information and basis of accounting

Asmeke Limited (the Company) is a private company, limited by shares, incorporated in the United Kingdom under the Companies Act 2006 and is registered in England and Wales. The address of the Company's registered office is 9 Donnington Park, 85 Birdham Road, Chichester, PO20 7AJ, United Kingdom.

The financial statements have been prepared under the historical cost convention, modified to include certain items at fair value, and in accordance with Section 1A of Financial Reporting Standard 102 (FRS 102) ‘The Financial Reporting Standard applicable in the UK and Republic of Ireland’ issued by the Financial Reporting Council and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime.

The financial statements are presented in pounds sterling which is the functional currency of the Company and rounded to the nearest £.

Going concern

The Company's business activities, together with the factors likely to affect its future development, performance and position are set out in the Directors’ Report.

The Company's forecasts and projections show that the company should be able to operate within the level of its current facilities.

Therefore, the directors have a reasonable expectation that the Company has adequate resources to continue in operational existence for the foreseeable future. Thus they continue to adopt the going concern basis of accounting in preparing the annual financial statements.

Turnover

Turnover is recognised at the fair value of the consideration received or receivable for goods and services provided in the normal course of business, and is shown net of VAT and other sales related taxes. The fair value of consideration takes into account trade discounts, settlement discounts and volume rebates.

Turnover is recognised when the significant risks and rewards are considered to have been transferred to the customer.

Impairment of assets

Assets, other than those measured at fair value, are assessed for indicators of impairment at each Balance Sheet date. If there is objective evidence of impairment, an impairment loss is recognised in the Statement of Income and Retained Earnings as described below.

Stocks

Stocks are stated at the lower of cost and estimated selling price less costs to sell, which is equivalent to the net realisable value. Cost includes materials, direct labour and an attributable proportion of manufacturing overheads based on normal levels of activity. Cost is calculated using the FIFO (first-in, first-out) method. Provision is made for obsolete, slow-moving or defective items where appropriate.

At each reporting date, an assessment is made for impairment. Any excess of the carrying amount of stocks over its estimated selling price less costs to complete and sell is recognised as an impairment loss in profit or loss. Reversals of impairment losses are also recognised in profit or loss.

Trade and other debtors

Trade and other debtors are initially recognised at fair value and thereafter stated at amortised cost using the effective interest method less impairment losses for bad and doubtful debts, except where the effect of discounting would be immaterial. In such cases the receivables are stated at cost less impairment losses for bad and doubtful debts.

Cash and cash equivalents

Cash and cash equivalents are basic financial assets and include cash in hand, deposits held at call with banks, other short-term liquid investments with original maturities of three months or less, and bank overdrafts. Bank overdrafts are shown within borrowings in creditors: amounts falling due within one year.

Trade and other creditors

Trade and other creditors are initially recognised at fair value and thereafter stated at amortised cost using the effective interest rate method, unless the effect of discounting would be immaterial, in which case they are stated at cost.

Financial instruments

Financial assets and financial liabilities are recognised when the Company becomes a party to the contractual provisions of the instrument.

Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instrument is any contract that evidences a residual interest in the assets of the Company after deducting all of its liabilities.

Financial assets and liabilities are only offset in the Balance Sheet when, and only when there exists a legally enforceable right to set off the recognised amounts and the Company intends either to settle on a net basis, or to realise the asset and settle the liability simultaneously.

2. Employees

2024 2023
Number Number
Monthly average number of persons employed by the Company during the year, including directors 2 2

3. Stocks

2024 2023
£ £
Work in progress 737,750 737,750

4. Debtors

2024 2023
£ £
Prepayments 432 392

5. Cash and cash equivalents

2024 2023
£ £
Cash at bank and in hand 2 261

6. Creditors: amounts falling due within one year

2024 2023
£ £
Other creditors 1,241,276 1,264,735

7. Called-up share capital

2024 2023
£ £
Allotted, called-up and not yet paid
50 A ordinary shares of £ 1.00 each 50 50
50 B ordinary shares of £ 1.00 each 50 50
100 100