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Registration number: 12454542

Ashdown Property Group Ltd

Annual Report and Unaudited Financial Statements

for the Year Ended 29 February 2024

 

Ashdown Property Group Ltd

Contents

Company Information

1

Balance Sheet

2

Notes to the Unaudited Financial Statements

3 to 6

 

Ashdown Property Group Ltd

Company Information

Director

Mr Matthew Antony Ashdown

Registered office

1 Market Hill
Calne
Wiltshire
SN11 0BT

Accountants

RiverView Portfolio Limited
1 Market Hill
Calne
Wiltshire
SN11 0BT

 

Ashdown Property Group Ltd

(Registration number: 12454542)
Balance Sheet as at 29 February 2024

Note

2024
£

2023
£

Fixed assets

 

Tangible assets

5

274

142

Investment property

6

231,769

110,000

 

232,043

110,142

Current assets

 

Debtors

7

979

10,347

Cash at bank and in hand

 

65,388

90,656

 

66,367

101,003

Total assets less current liabilities

 

298,410

211,145

Creditors: Amounts falling due after more than one year

8

(332,536)

(226,525)

Provisions for liabilities

(2,956)

(1,056)

Net liabilities

 

(37,082)

(16,436)

Capital and reserves

 

Called up share capital

1,000

1,000

Revaluation reserve

12,604

4,504

Retained earnings

(50,686)

(21,940)

Shareholders' deficit

 

(37,082)

(16,436)

For the financial year ending 29 February 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Director's responsibilities:

The members have not required the company to obtain an audit of its accounts for the year in question in accordance with section 476; and

The director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

These financial statements have been prepared in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006.

Approved and authorised by the director on 9 September 2024
 

.........................................
Mr Matthew Antony Ashdown
Director

 

Ashdown Property Group Ltd

Notes to the Unaudited Financial Statements for the Year Ended 29 February 2024

1

General information

The company is a private company limited by share capital, incorporated in England and Wales.

The address of its registered office is:
1 Market Hill
Calne
Wiltshire
SN11 0BT
England

These financial statements were authorised for issue by the director on 9 September 2024.

2

Accounting policies

Summary of significant accounting policies and key accounting estimates

The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.

Statement of compliance

These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A smaller entities - 'The Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland' and the Companies Act 2006 (as applicable to companies subject to the small companies' regime).

Basis of preparation

These financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.

Going concern

The financial statements have been prepared on a going concern basis.

Tangible assets

Tangible assets are stated in the balance sheet at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.

The cost of tangible assets includes directly attributable incremental costs incurred in their acquisition and installation.

Depreciation

Depreciation is charged so as to write off the cost of assets, other than land and properties under construction over their estimated useful lives, as follows:

Asset class

Depreciation method and rate

Office Equipment

25% Straight Line

 

Ashdown Property Group Ltd

Notes to the Unaudited Financial Statements for the Year Ended 29 February 2024 (continued)

2

Accounting policies (continued)

Investment property

Investment property is carried at fair value, derived from the current market prices for comparable real estate determined annually by external valuers. The valuers use observable market prices, adjusted if necessary for any difference in the nature, location or condition of the specific asset. Changes in fair value are recognised in profit or loss.

Cash and cash equivalents

Cash and cash equivalents comprise cash on hand and call deposits, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value.

Trade debtors

Trade debtors are amounts due from customers for merchandise sold or services performed in the ordinary course of business.

Trade debtors are recognised initially at the transaction price. They are subsequently measured at amortised cost using the effective interest method, less provision for impairment. A provision for the impairment of trade debtors is established when there is objective evidence that the company will not be able to collect all amounts due according to the original terms of the receivables.

Trade creditors

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Accounts payable are classified as current liabilities if the company does not have an unconditional right, at the end of the reporting period, to defer settlement of the creditor for at least twelve months after the reporting date. If there is an unconditional right to defer settlement for at least twelve months after the reporting date, they are presented as non-current liabilities.

Trade creditors are recognised initially at the transaction price and subsequently measured at amortised cost using the effective interest method.

Share capital

Ordinary shares are classified as equity. Equity instruments are measured at the fair value of the cash or other resources received or receivable, net of the direct costs of issuing the equity instruments. If payment is deferred and the time value of money is material, the initial measurement is on a present value basis.

3

Staff numbers

The average number of persons employed by the company (including the director) during the year, was 0 (2023 - 0).

4

Loss before tax

Arrived at after charging/(crediting)

2024
£

2023
£

Depreciation expense

107

48

 

Ashdown Property Group Ltd

Notes to the Unaudited Financial Statements for the Year Ended 29 February 2024 (continued)

5

Tangible assets

Furniture, fittings and equipment
 £

Total
£

Cost or valuation

At 1 March 2023

189

189

Additions

239

239

At 29 February 2024

428

428

Depreciation

At 1 March 2023

47

47

Charge for the year

107

107

At 29 February 2024

154

154

Carrying amount

At 29 February 2024

274

274

At 28 February 2023

142

142

6

Investment properties

2024
£

At 1 March

110,000

Additions

111,769

Fair value adjustments

10,000

At 29 February

231,769

The fair value of the property at 29th February 2024 has been arrived at on the basis of a valuation carried out at that date by the director of the company, who is not a professionally qualified valuer. The valuation of £231,769 was arrived at by reference to the market evidence of transaction prices for similar properties in its location the property is situated.

7

Debtors

 

Ashdown Property Group Ltd

Notes to the Unaudited Financial Statements for the Year Ended 29 February 2024 (continued)

7

Debtors (continued)

Current

Note

2024
£

2023
£

Amounts owed by related parties

-

10,067

Prepayments

 

449

280

Other debtors

 

530

-

   

979

10,347

8

Creditors

Creditors: amounts falling due within one year

2024
£

2023
£

Creditors: amounts falling due after more than one year

Note

2024
£

2023
£

Due after one year

 

Loans and borrowings

9

332,536

226,525

9

Loans and borrowings

Non-current loans and borrowings

2024
£

2023
£

Bank borrowings

141,165

60,845

Other borrowings

191,371

165,680

332,536

226,525