Caseware UK (AP4) 2023.0.135 2023.0.135 2023-10-312023-10-31falseBuying and selling of real estate12022-11-01false1falsetrueThe members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006. 12968918 2022-11-01 2023-10-31 12968918 2021-11-01 2022-10-31 12968918 2023-10-31 12968918 2022-10-31 12968918 c:Director1 2022-11-01 2023-10-31 12968918 d:FreeholdInvestmentProperty 2022-11-01 2023-10-31 12968918 d:FreeholdInvestmentProperty 2023-10-31 12968918 d:CurrentFinancialInstruments 2023-10-31 12968918 d:CurrentFinancialInstruments 2022-10-31 12968918 d:CurrentFinancialInstruments d:WithinOneYear 2023-10-31 12968918 d:CurrentFinancialInstruments d:WithinOneYear 2022-10-31 12968918 d:ShareCapital 2023-10-31 12968918 d:ShareCapital 2022-10-31 12968918 d:RetainedEarningsAccumulatedLosses 2023-10-31 12968918 d:RetainedEarningsAccumulatedLosses 2022-10-31 12968918 c:FRS102 2022-11-01 2023-10-31 12968918 c:AuditExemptWithAccountantsReport 2022-11-01 2023-10-31 12968918 c:FullAccounts 2022-11-01 2023-10-31 12968918 c:PrivateLimitedCompanyLtd 2022-11-01 2023-10-31 12968918 e:PoundSterling 2022-11-01 2023-10-31 iso4217:GBP xbrli:pure

Registered number: 12968918









AYAAN'S PROPERTY INVESTMENT LTD







UNAUDITED

FINANCIAL STATEMENTS

INFORMATION FOR FILING WITH THE REGISTRAR

FOR THE YEAR ENDED 31 OCTOBER 2023

 
AYAAN'S PROPERTY INVESTMENT LTD
 
 
  
REPORT TO THE DIRECTOR ON THE PREPARATION OF THE UNAUDITED STATUTORY FINANCIAL STATEMENTS OF AYAAN'S PROPERTY INVESTMENT LTD
FOR THE YEAR ENDED 31 OCTOBER 2023

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the financial statements of Ayaan's Property Investment Ltd for the year ended 31 October 2023 which comprise  the Balance Sheet and the related notes from the Company's accounting records and from information and explanations you have given us.

As a practising member firm of the Association of Chartered Certified Accountantswe are subject to its ethical and other professional requirements which are detailed at https://www.accaglobal .com/uk/en/about-us /regulation/ethics /acca-rulebook.html.

This report is made solely to the director of Ayaan's Property Investment Ltd in accordance with the terms of our engagement letter dated 30 October 2024Our work has been undertaken solely to prepare for your approval the financial statements of Ayaan's Property Investment Ltd and state those matters that we have agreed to state to the director of Ayaan's Property Investment Ltd in this report in accordance with the requirements of the Association of Chartered Certified Accountants as detailed at http://www.accaglobal .com/content/dam/ACCA_Global /Technical /fact/technical-factsheet -163.pdf. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than Ayaan's Property Investment Ltd and its director for our work or for this report. 

It is your duty to ensure that Ayaan's Property Investment Ltd 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 Ayaan's Property Investment Ltd. You consider that Ayaan's Property Investment Ltd is exempt from the statutory audit requirement for the year.

We have not been instructed to carry out an audit or review of the financial statements of Ayaan's Property Investment Ltd. 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.

  



Fraser Russell Ltd
 
77 Francis Road
Edgbaston
Birmingham
West Midlands
B16 8SP
31 October 2024
Page 1

 
AYAAN'S PROPERTY INVESTMENT LTD
REGISTERED NUMBER: 12968918

BALANCE SHEET
AS AT 31 OCTOBER 2023

2023
2022
Note
£
£

Fixed assets
  

Investment property
 4 
402,052
-

  
402,052
-

Current assets
  

Cash at bank and in hand
 6 
63,744
7,241

  
63,744
7,241

Creditors: amounts falling due within one year
 7 
(409,466)
-

Net current (liabilities)/assets
  
 
 
(345,722)
 
 
7,241

Total assets less current liabilities
  
56,330
7,241

  

Net assets
  
56,330
7,241


Capital and reserves
  

Called up share capital 
  
100
100

Profit and loss account
  
56,230
7,141

  
56,330
7,241


The director considers 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 director acknowledges his responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.

The Company's financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies regime.

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 profit and loss account 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 31 October 2024.




Sohail Afsar
Page 2

 
AYAAN'S PROPERTY INVESTMENT LTD
REGISTERED NUMBER: 12968918
    
BALANCE SHEET (CONTINUED)
AS AT 31 OCTOBER 2023

Director

The notes on pages 4 to 8 form part of these financial statements.

Page 3

 
AYAAN'S PROPERTY INVESTMENT LTD
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 OCTOBER 2023

1.


General information

Ayaan's Property Investments Limited is a company limited by shares incorporated in England within the United Kingdom, having a registration number of 12968918. The address of the registered office is 77 Francis Road, Edgbaston, Birmingham, B16 8SP. The principal activity of the company in the year under review was that of Buying and selling of real estate.
The financial statements are presented in sterling which is 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 Financial Reporting Standard 102, the Financial Reporting Standard applicable in the UK and the Republic of Ireland and the Companies Act 2006.

The preparation of financial statements in compliance with FRS 102 requires the use of certain critical accounting estimates. It also requires management to exercise judgment in applying the Company's accounting policies.

The following principal accounting policies have been applied:

 
2.2

Going concern

The financial statements has been prepared on a going concern basis which assumes that the company will continue to receive support from creditors and the director as and when required.

Page 4

 
AYAAN'S PROPERTY INVESTMENT LTD
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 OCTOBER 2023

2.Accounting policies (continued)

 
2.3

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. The following criteria must also be met before revenue is recognised:

Sale of goods

Revenue from the sale of goods is recognised when all of the following conditions are satisfied:
the Company has transferred the significant risks and rewards of ownership to the buyer;
the Company retains neither continuing managerial involvement to the degree usually associated with ownership nor effective control over the goods sold;
the amount of revenue can be measured reliably;
it is probable that the Company will receive the consideration due under the transaction; and
the costs incurred or to be incurred in respect of the transaction can be measured reliably.

Rendering of services

Revenue from a contract to provide services is recognised in the period in which the services are provided in accordance with the stage of completion of the contract when all of the following conditions are satisfied:
the amount of revenue can be measured reliably;
it is probable that the Company will receive the consideration due under the contract;
the stage of completion of the contract at the end of the reporting period can be measured reliably; and
the costs incurred and the costs to complete the contract can be measured reliably.

 
2.4

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.

 
2.5

Investment property

Investment property is carried at fair value determined annually by external valuers 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 profit or loss.

Page 5

 
AYAAN'S PROPERTY INVESTMENT LTD
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 OCTOBER 2023

2.Accounting policies (continued)

 
2.6

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.

 
2.7

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.


3.


Employees

The average monthly number of employees, including the director, during the year was as follows:


        2023
        2022
            No.
            No.







Employee
1
1

Page 6

 
AYAAN'S PROPERTY INVESTMENT LTD
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 OCTOBER 2023

4.


Investment property


Freehold investment property

£



Valuation


Additions at cost
402,052



At 31 October 2023
402,052

The 2023 valuations were made by the directors, on an open market value for existing use basis.



At 31 October 2023



If the Investment properties had been accounted for under the historic cost accounting rules, the properties would have been measured as follows:

2023
2022
£
£


Historic cost
402,052
-

402,052
-


5.


Stocks





6.


Cash and cash equivalents

2023
2022
£
£

Cash at bank and in hand
63,744
7,241

63,744
7,241


Page 7

 
AYAAN'S PROPERTY INVESTMENT LTD
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 OCTOBER 2023

7.


Creditors: Amounts falling due within one year

2023
2022
£
£

Corporation tax
216
-

Other creditors
409,250
-

409,466
-



8.


Related party transactions

Sohail Afsarl is the sole director and shareholder of Westside Property Ltd.
During the year, the director provided loans of £409,250 (2022:nil) to the company. As at the balance sheet the company owed the director £409,250 (2022: £nil) which is included in other creditors due within one year.
The above amounts are repayable by the company on demand and therefore there is no significant difference between the value of the original loan amount and the initial carrying value of the loan as shown in the balance sheet.


9.


Controlling party

During the year, the company was under the control of the sole director, Sohail Afsar

 
Page 8