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REGISTERED NUMBER: 06436941 (England and Wales)















Financial Statements for the Year Ended 30 November 2023

for

AS Property Sales Limited

AS Property Sales Limited (Registered number: 06436941)






Contents of the Financial Statements
for the Year Ended 30 November 2023




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


AS Property Sales Limited

Company Information
for the Year Ended 30 November 2023







DIRECTORS: A Stewart
Mrs S Stewart





REGISTERED OFFICE: Suite 0b, Ground Floor
Burlington House
Crosby Road North
Liverpool
Merseyside
L22 0PJ





REGISTERED NUMBER: 06436941 (England and Wales)





ACCOUNTANTS: Cobham Murphy
116 Duke Street
Liverpool
Merseyside
L1 5JW

AS Property Sales Limited (Registered number: 06436941)

Balance Sheet
30 November 2023

30.11.23 30.11.22
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 - 10,559
Investment property 5 2,756,757 2,375,290
2,756,757 2,385,849

CURRENT ASSETS
Debtors 6 - 17,915
Cash at bank 89,559 256,329
89,559 274,244
CREDITORS
Amounts falling due within one year 7 1,224,569 1,366,229
NET CURRENT LIABILITIES (1,135,010 ) (1,091,985 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

1,621,747

1,293,864

CREDITORS
Amounts falling due after more than
one year

8

(286,271

)

(38,069

)

PROVISIONS FOR LIABILITIES (149,516 ) (115,638 )
NET ASSETS 1,185,960 1,140,157

CAPITAL AND RESERVES
Called up share capital 104 104
Share premium 34,013 34,013
Retained earnings 1,151,843 1,106,040
SHAREHOLDERS' FUNDS 1,185,960 1,140,157

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30 November 2023.

The members have not required the company to obtain an audit of its financial statements for the year ended 30 November 2023 in accordance with Section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for:
(a)ensuring that the company keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006 and
(b)preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of each financial year and of its profit or loss for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the company.

AS Property Sales Limited (Registered number: 06436941)

Balance Sheet - continued
30 November 2023


The financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 18 November 2024 and were signed on its behalf by:





A Stewart - Director


AS Property Sales Limited (Registered number: 06436941)

Notes to the Financial Statements
for the Year Ended 30 November 2023

1. STATUTORY INFORMATION

AS Property Sales Limited is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.

The presentation currency of the financial statements is the Pound Sterling (£).


2. ACCOUNTING POLICIES

Basis of preparing the financial statements
These financial statements have been prepared in accordance with Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" including the provisions of Section 1A "Small Entities" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.

Significant judgements and estimates
There are no judgements (apart from those involving estimates) that have had a significant effect on amounts recognised in the financial statements.

Turnover
Turnover from rental income and property sales is measured at the fair value of the consideration received or receivable, excluding discounts, rebated, value added tax and other sales taxes.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Plant and machinery etc - 25% on cost

Investment property
Investment property is shown at most recent valuation. Any aggregate surplus or deficit arising from changes in fair value is recognised in profit or loss.

Financial instruments
Other loans are initially measured at the present value of future payments, discounted at a market rate of interest, and subsequently at amortised cost using the effective interest method.

Directors loans and intercompany loans (being repayable on demand), trade debtors and trade creditors are measured at the undiscounted amount of the cash or other consideration expected to be paid or received.

Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Income Statement, except to the extent that it relates to items recognised in other comprehensive income or directly in equity.

Current or deferred taxation assets and liabilities are not discounted.

Current tax is recognised at the amount of tax payable using the tax rates and laws that have been enacted or substantively enacted by the balance sheet date.


AS Property Sales Limited (Registered number: 06436941)

Notes to the Financial Statements - continued
for the Year Ended 30 November 2023

2. ACCOUNTING POLICIES - continued
Deferred tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date.

Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from those in which they are recognised in financial statements. Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the year end and that are expected to apply to the reversal of the timing difference.

Unrelieved tax losses and other deferred tax assets are recognised only to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 3 (2022 - 4 ) .

4. TANGIBLE FIXED ASSETS
Plant and
machinery
etc
£   
COST
At 1 December 2022 64,426
Disposals (21,600 )
At 30 November 2023 42,826
DEPRECIATION
At 1 December 2022 53,867
Charge for year 5,159
Eliminated on disposal (16,200 )
At 30 November 2023 42,826
NET BOOK VALUE
At 30 November 2023 -
At 30 November 2022 10,559

5. INVESTMENT PROPERTY
Total
£   
FAIR VALUE
At 1 December 2022 2,375,290
Additions 381,467
At 30 November 2023 2,756,757
NET BOOK VALUE
At 30 November 2023 2,756,757
At 30 November 2022 2,375,290


AS Property Sales Limited (Registered number: 06436941)

Notes to the Financial Statements - continued
for the Year Ended 30 November 2023

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
30.11.23 30.11.22
£    £   
Other debtors - 17,915

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
30.11.23 30.11.22
£    £   
Taxation and social security 48,945 40,455
Other creditors 1,175,624 1,325,774
1,224,569 1,366,229

8. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR
30.11.23 30.11.22
£    £   
Bank loans 253,750 -
Other creditors 32,521 38,069
286,271 38,069

Amounts falling due in more than five years:

Repayable by instalments
Bank loans more 5 yr by instal 253,750 -
Other loans more 5yrs instal 6,209 11,757
259,959 11,757

9. SECURED DEBTS

The following secured debts are included within creditors:

30.11.23 30.11.22
£    £   
Bank loans 253,750 -

10. RELATED PARTY DISCLOSURES

Included in other creditors at 30th November 2023 is £610,476 owed to related parties under common control. The loans are interest free and repayable on demand.