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Company No: 14508758 (England and Wales)

ASHINGTON GLOUCESTER LIMITED

Unaudited Financial Statements
For the financial period from 28 November 2022 to 31 March 2024
Pages for filing with the registrar

ASHINGTON GLOUCESTER LIMITED

Unaudited Financial Statements

For the financial period from 28 November 2022 to 31 March 2024

Contents

ASHINGTON GLOUCESTER LIMITED

STATEMENT OF FINANCIAL POSITION

As at 31 March 2024
ASHINGTON GLOUCESTER LIMITED

STATEMENT OF FINANCIAL POSITION (continued)

As at 31 March 2024
Note 31.03.2024
£
Fixed assets
Investment property 3 2,141,174
2,141,174
Current assets
Debtors 4 895
Cash at bank and in hand 5 159,314
160,209
Creditors: amounts falling due within one year 6 ( 41,958)
Net current assets 118,251
Total assets less current liabilities 2,259,425
Creditors: amounts falling due after more than one year ( 2,148,580)
Net assets 110,845
Capital and reserves
Called-up share capital 7 300
Profit and loss account 110,545
Total shareholders' funds 110,845

For the financial period ending 31 March 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 Ashington Gloucester Limited (registered number: 14508758) were approved and authorised for issue by the Board of Directors on 21 November 2024. They were signed on its behalf by:

R Selig
Director
ASHINGTON GLOUCESTER LIMITED

NOTES TO THE FINANCIAL STATEMENTS

For the financial period from 28 November 2022 to 31 March 2024
ASHINGTON GLOUCESTER LIMITED

NOTES TO THE FINANCIAL STATEMENTS

For the financial period from 28 November 2022 to 31 March 2024
1. Accounting policies

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

General information and basis of accounting

Ashington Gloucester 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 2 Leman Street, London, E1W 9US, United Kingdom.

The financial statements have been prepared under the historical cost convention, modified to include the revaluation of freehold properties and to include investment properties and 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 directors have assessed the Statement of Financial Position and likely future cash flows at the date of approving these financial statements. The directors have a reasonable expectation that the Company has adequate resources to continue in operational existence and to meet its financial obligations as they fall due for at least 12 months from the date of signing these financial statements. Accordingly, they continue to adopt the going concern basis in preparing the financial statements.

Reporting period length

The financial statements cover a 16 month period from 22 November 2022 to 31 March 2024. No comparative figures are presented as this is the company's first reporting period.

Turnover

Turnover represents rental income. Turnover is recognised at the fair value of the consideration received or receivable for the rental space provided in the normal course of business and is shown net of VAT.

Taxation

Current tax
Current tax is provided at amounts expected to be paid (or recoverable) using the tax rates and laws that have been enacted or substantively enacted at the Statement of Financial Position date.

Investment property

Investment property is initially recognised at cost, which includes the purchase cost and any directly attributable expenditure. Subsequently it is measured at fair value at each reporting date with changes in fair value recognised in profit or loss. Deferred taxation is provided on these gains at the rate expected to apply when the property is sold.

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.

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.

Basic financial assets
Basic financial assets, which include debtors and cash and bank balances, are initially measured at transaction price including transaction costs and are subsequently carried at amortised cost using the effective interest method unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest. Financial assets classified as receivable within one year are not amortised.

Basic financial liabilities
Basic financial liabilities, including creditors, bank loans and loans from fellow group companies are initially recognised at transaction price unless the arrangement constitutes a financing transaction, where the debt instrument is measured at the present value of the future payments discounted at a market rate of interest. Financial liabilities classified as payable within one year are not amortised.

Equity instruments
Equity instruments issued by the Company are recorded at the fair value of cash or other resources received or receivable, net of direct issue costs. Dividends payable on equity instruments are recognised as liabilities once they are no longer at the discretion of the Company.

2. Employees

Period from
28.11.2022 to
31.03.2024
Number
Monthly average number of persons employed by the Company during the period, including directors 3

3. Investment property

Investment property
£
Valuation
As at 28 November 2022 0
Additions 2,141,174
As at 31 March 2024 2,141,174

4. Debtors

31.03.2024
£
Other debtors 895

5. Cash and cash equivalents

31.03.2024
£
Cash at bank and in hand 159,314

6. Creditors: amounts falling due within one year

31.03.2024
£
Taxation and social security 39,458
Other creditors 2,500
41,958

7. Called-up share capital

31.03.2024
£
Allotted, called-up and fully-paid
100 A ordinary shares of £ 1.00 each 100
100 B ordinary shares of £ 1.00 each 100
100 C ordinary shares of £ 1.00 each 100
300

8. Related party transactions

Other related party transactions

31.03.2024
£
Amounts due to related parties 2,148,580