2023-04-012024-03-312024-03-31false13966867ASMITH PROPERTIES 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ASMITH PROPERTIES LTD

Registered Number
13966867
(England and Wales)

Unaudited Financial Statements for the Year ended
31 March 2024

ASMITH PROPERTIES LTD
Company Information
for the year from 1 April 2023 to 31 March 2024

Directors

SMITH, Adam
SMITH, Ashleigh

Registered Address

65 Avon Drive
Bedford
MK41 7UR

Registered Number

13966867 (England and Wales)
ASMITH PROPERTIES LTD
Balance Sheet as at
31 March 2024

Notes

2024

2023

£

£

£

£

Fixed assets
Tangible assets3205,000205,000
205,000205,000
Current assets
Debtors120120
Cash at bank and on hand6,4061,054
6,5261,174
Creditors amounts falling due within one year4(74,910)(71,306)
Net current assets (liabilities)(68,384)(70,132)
Total assets less current liabilities136,616134,868
Creditors amounts falling due after one year5(149,313)(149,313)
Net assets(12,697)(14,445)
Capital and reserves
Called up share capital100-
Profit and loss account(12,797)(14,445)
Shareholders' funds(12,697)(14,445)
The financial statements were approved and authorised for issue by the Board of Directors on 23 December 2024, and are signed on its behalf by:
SMITH, Adam
Director
SMITH, Ashleigh
Director

Registered Company No. 13966867
ASMITH PROPERTIES LTD
Notes to the Financial Statements
for the year ended 31 March 2024

1.Accounting policies
Statutory information
The company is a private company limited by shares and registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.
Statement of compliance
The financial statements have been prepared in compliance with FRS 102 Section 1A as it applies to the financial statements for the period and there were no material departures from the reporting standard.
Revenue from sale of goods
Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs.
Foreign currency translation
Transactions in foreign currencies are initially recognised at the rate of exchange ruling at the date of the transaction. At the end of each reporting period foreign currency monetary items are translated at the closing rate of exchange. Non-monetary items that are measured at historical cost are translated at the rate ruling at the date of the transaction. All differences are charged to profit or loss.
Tangible fixed assets and depreciation
All fixed assets are initially recorded at cost. Property, plant and equipment is used in the company's principal activity for the production and supply of goods or for administrative purposes and is stated in the balance sheet under the historic cost model. This model requires the assets to be stated at cost less amounts in respect of depreciation and less any accumulated impairment losses. Depreciation is calculated so as to write off the cost of an asset, less its estimated residual value (which is the expected amount that would currently be obtained from disposal of an asset, after deducting the estimated costs of disposal, if the asset were already of the age and in the condition expected at the end of its useful life), over the useful economic life of the respective asset as follows:
2.Average number of employees

20242023
Average number of employees during the year00
3.Tangible fixed assets

Land & buildings

Total

££
Cost or valuation
At 01 April 23205,000205,000
At 31 March 24205,000205,000
Net book value
At 31 March 24205,000205,000
At 31 March 23205,000205,000
4.Creditors: amounts due within one year

2024

2023

££
Other creditors74,19070,706
Accrued liabilities and deferred income720600
Total74,91071,306
Short term creditors are measured at transaction price (which is usually the invoice price). Loans and other financial liabilities are initially recognised at transaction price net of any transaction costs and subsequently measured at amortised cost determined using the effective interest method.
5.Creditors: amounts due after one year

2024

2023

££
Bank borrowings and overdrafts149,313149,313
Total149,313149,313