Caseware UK (AP4) 2023.0.135 2023.0.135 2024-04-052024-04-05true2023-04-06falseThe principal activity of the company continued to be that of property owners.33trueThe members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.false 01090390 2023-04-06 2024-04-05 01090390 2022-04-06 2023-04-05 01090390 2024-04-05 01090390 2023-04-05 01090390 2022-04-06 01090390 c:Director2 2023-04-06 2024-04-05 01090390 d:FurnitureFittings 2023-04-06 2024-04-05 01090390 d:FurnitureFittings 2024-04-05 01090390 d:FurnitureFittings 2023-04-05 01090390 d:FurnitureFittings d:OwnedOrFreeholdAssets 2023-04-06 2024-04-05 01090390 d:FreeholdInvestmentProperty 2024-04-05 01090390 d:FreeholdInvestmentProperty 2023-04-05 01090390 d:CurrentFinancialInstruments 2024-04-05 01090390 d:CurrentFinancialInstruments 2023-04-05 01090390 d:Non-currentFinancialInstruments 2024-04-05 01090390 d:Non-currentFinancialInstruments 2023-04-05 01090390 d:CurrentFinancialInstruments d:WithinOneYear 2024-04-05 01090390 d:CurrentFinancialInstruments d:WithinOneYear 2023-04-05 01090390 d:Non-currentFinancialInstruments d:AfterOneYear 2024-04-05 01090390 d:Non-currentFinancialInstruments d:AfterOneYear 2023-04-05 01090390 d:ShareCapital 2024-04-05 01090390 d:ShareCapital 2023-04-05 01090390 d:InvestmentPropertiesRevaluationReserve 2023-04-06 2024-04-05 01090390 d:InvestmentPropertiesRevaluationReserve 2024-04-05 01090390 d:InvestmentPropertiesRevaluationReserve 2023-04-05 01090390 d:RetainedEarningsAccumulatedLosses 2023-04-06 2024-04-05 01090390 d:RetainedEarningsAccumulatedLosses 2024-04-05 01090390 d:RetainedEarningsAccumulatedLosses 2023-04-05 01090390 c:FRS102 2023-04-06 2024-04-05 01090390 c:AuditExempt-NoAccountantsReport 2023-04-06 2024-04-05 01090390 c:FullAccounts 2023-04-06 2024-04-05 01090390 c:PrivateLimitedCompanyLtd 2023-04-06 2024-04-05 01090390 d:AcceleratedTaxDepreciationDeferredTax 2024-04-05 01090390 d:AcceleratedTaxDepreciationDeferredTax 2023-04-05 01090390 d:TaxLossesCarry-forwardsDeferredTax 2024-04-05 01090390 d:TaxLossesCarry-forwardsDeferredTax 2023-04-05 01090390 d:RetirementBenefitObligationsDeferredTax 2024-04-05 01090390 d:RetirementBenefitObligationsDeferredTax 2023-04-05 01090390 e:PoundSterling 2023-04-06 2024-04-05 iso4217:GBP xbrli:pure

Registered number:  01090390














ASLETT PROPERTIES LIMITED
FINANCIAL STATEMENTS
FOR THE YEAR ENDED 5 APRIL 2024


 
ASLETT PROPERTIES LIMITED
REGISTERED NUMBER: 01090390

BALANCE SHEET
AS AT 5 APRIL 2024

2024
2023
Note
£
£

Fixed assets
  

Tangible assets
 4 
1,091
1,213

Investment property
 5 
775,000
775,000

  
776,091
776,213

Current assets
  

Debtors: amounts falling due within one year
 6 
437
437

Cash at bank and in hand
 7 
1,463
18,520

  
1,900
18,957

Creditors: amounts falling due within one year
 8 
(8,187)
(9,000)

Net current (liabilities)/assets
  
 
 
(6,287)
 
 
9,957

Total assets less current liabilities
  
769,804
786,170

Creditors: amounts falling due after more than one year
 9 
(7,569)
(7,569)

Provisions for liabilities
  

Deferred tax
 10 
(132,672)
(103,930)

  
 
 
(132,672)
 
 
(103,930)

Net assets
  
629,563
674,671

Page 1

 
ASLETT PROPERTIES LIMITED
REGISTERED NUMBER: 01090390
    
BALANCE SHEET (CONTINUED)
AS AT 5 APRIL 2024

2024
2023
Note
£
£

Capital and reserves
  

Called up share capital 
  
13,100
13,100

Investment property reserve
 11 
600,780
568,020

Profit and loss account
 11 
15,683
93,551

  
629,563
674,671


The directors consider 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 directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.

The financial statements have been prepared 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 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 statement of income and retained earnings 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 by: 






C. J. L. Buxton
Director

Date: 19 November 2024

The notes on pages 3 to 9 form part of these financial statements.

Page 2

 
ASLETT PROPERTIES LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 5 APRIL 2024

1.


General information

The company is a private company limited by shares, which is incorporated under the Companies Act 2006 and registered in England (no.01090390). Its registered office is 88 Elms Road, London, England, SW4 9EW.
These financial statements present information about the company as an individual undertaking; it is not a member of a group of companies. The principal activity of the company continues to be that of property owners.

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 FRS 102 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland' and the requirements of the Companies Act 2006. The disclosure requirements of Section 1A of FRS 102 have been applied other than where additional disclosure is required to show a true and fair view.



 
2.2

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:

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.

 
2.3

Tangible fixed assets

Tangible fixed assets under the cost model are stated at historical cost less accumulated depreciation and any accumulated impairment losses. Historical cost includes expenditure that is directly attributable to bringing the asset to the location and condition necessary for it to be capable of operating in the manner intended by management.

Page 3

 
ASLETT PROPERTIES LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 5 APRIL 2024

2.Accounting policies (continued)


2.3
Tangible fixed assets (continued)

Depreciation is charged so as to allocate the cost of assets less their residual value over their estimated useful lives, on a reducing balance basis.

Depreciation is provided on the following basis:

Fixtures and fittings
-
10%
reducing balance

The assets' residual values, useful lives and depreciation methods are reviewed, and adjusted prospectively if appropriate, or if there is an indication of a significant change since the last reporting date.

Gains and losses on disposals are determined by comparing the proceeds with the carrying amount and are recognised in profit or loss.

  
2.4

Investment property

Investment property is carried at fair value determined 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 the Statement of Comprehensive Income.

 
2.5

Debtors

Short-term debtors are measured at transaction price, less any impairment. Loans receivable are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method, less any impairment.

 
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.

 
2.8

Provisions for liabilities

Provisions are recognised when an event has taken place that gives rise to a legal or constructive obligation, a transfer of economic benefits is probable and a reliable estimate can be made.
Provisions are measured as the best estimate of the amount required to settle the obligation, taking into account the related risks and uncertainties.
 
Increases in provisions are generally charged as an expense to profit or loss.

Page 4

 
ASLETT PROPERTIES LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 5 APRIL 2024

2.Accounting policies (continued)

 
2.9

Current and deferred taxation

The tax expense for the year comprises current and deferred tax. 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.

Deferred tax balances are recognised in respect of all timing differences that have originated but not reversed by the balance sheet date, except that:
The recognition of deferred tax assets is limited to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits; and
Any deferred tax balances are reversed if and when all conditions for retaining associated tax allowances have been met.

Deferred tax balances are not recognised in respect of permanent differences except in respect of business combinations, when deferred tax is recognised on the differences between the fair values of assets acquired and the future tax deductions available for them and the differences between the fair values of liabilities acquired and the amount that will be assessed for tax. Deferred tax is determined using tax rates and laws that have been enacted or substantively enacted by the balance sheet date.



3.


Employees




The average monthly number of employees, including directors, during the year was 3 (2023 - 3).

Page 5

 
ASLETT PROPERTIES LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 5 APRIL 2024

4.


TANGIBLE FIXED ASSETS





Fixtures & fittings

£



Cost or valuation


At 6 April 2023
11,445



At 5 April 2024

11,445



Depreciation


At 6 April 2023
10,233


Charge for the year on owned assets
121



At 5 April 2024

10,354



Net book value



At 5 April 2024
1,091



At 5 April 2023
1,213

Page 6

 
ASLETT PROPERTIES LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 5 APRIL 2024

5.


Investment property


Freehold investment property

£



Valuation


At 6 April 2023
775,000



At 5 April 2024
775,000

The  valuations were made by Rosina Shepherd of Estuary Estates, on an open market value for existing use basis.

2024
2023
£
£

Revaluation reserves


At 6 April 2023
568,020
568,020

Net deficit in movement properties
32,760
-

At 5 April 2024
600,780
568,020



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

2024
2023
£
£


Historic cost
103,280
103,280


6.


Debtors

2024
2023
£
£


Other debtors
112
112

Prepayments and accrued income
325
325

437
437


Page 7

 
ASLETT PROPERTIES LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 5 APRIL 2024

7.


Cash and cash equivalents

2024
2023
£
£

Cash at bank and in hand
1,463
18,520

1,463
18,520



8.


Creditors: Amounts falling due within one year

2024
2023
£
£

Corporation tax
-
540

Accruals and deferred income
8,187
8,460

8,187
9,000



9.


Creditors: Amounts falling due after more than one year

2024
2023
£
£

Other creditors
7,569
7,569

7,569
7,569



10.


Deferred taxation




2024
2023


£

£






At beginning of year
(103,930)
(103,959)


Charged to profit or loss
(28,742)
29



At end of year
(132,672)
(103,930)

Page 8

 
ASLETT PROPERTIES LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 5 APRIL 2024
 
10.Deferred taxation (continued)

The provision for deferred taxation is made up as follows:

2024
2023
£
£


Accelerated capital allowances
(273)
(230)

Tax on potential gain on revalued investment property
(136,502)
(103,700)

Losses
4,103
-

(132,672)
(103,930)


11.


Reserves

Investment property revaluation reserve

The balance represents the surplus arising on the revaluation of the investment property less a provision for the potential tax payable on the difference between original cost and the revalued amount.

Profit & loss account

Retained earnings includes all current and prior period retained profits and losses less dividends paid
and cash paid for purchase of own shares.


12.


Controlling party

The company is controlled by C. J. L. Buxton. 

 
Page 9