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REGISTERED NUMBER: 11948702 (England and Wales)















UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 30 APRIL 2024

FOR

ASCENT HOMES LIMITED

ASCENT HOMES LIMITED (REGISTERED NUMBER: 11948702)






CONTENTS OF THE FINANCIAL STATEMENTS
for the Year Ended 30 April 2024




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


ASCENT HOMES LIMITED

COMPANY INFORMATION
for the Year Ended 30 April 2024







DIRECTORS: M P A Dungworth
W J O Hutchinson





REGISTERED OFFICE: 15 Highfields Crescent
Dronfield
S18 1UT





REGISTERED NUMBER: 11948702 (England and Wales)

ASCENT HOMES LIMITED (REGISTERED NUMBER: 11948702)

BALANCE SHEET
30 April 2024

30.4.24 30.4.23
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 8,848 11,151
Investment property 5 1,220,000 949,000
1,228,848 960,151

CURRENT ASSETS
Debtors 6 19,777 57,148
Cash at bank and in hand 9,530 17,910
29,307 75,058
CREDITORS
Amounts falling due within one year 7 148,395 132,543
NET CURRENT LIABILITIES (119,088 ) (57,485 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

1,109,760

902,666

CREDITORS
Amounts falling due after more than one
year

8

(791,544

)

(587,092

)

PROVISIONS FOR LIABILITIES (93,873 ) (91,586 )
NET ASSETS 224,343 223,988

ASCENT HOMES LIMITED (REGISTERED NUMBER: 11948702)

BALANCE SHEET - continued
30 April 2024

30.4.24 30.4.23
Notes £    £    £    £   
CAPITAL AND RESERVES
Called up share capital 2 2
Fair value reserve 10 281,620 274,757
Retained earnings (57,279 ) (50,771 )
224,343 223,988

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30 April 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 30 April 2024 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.

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 6 January 2025 and were signed on its behalf by:




M P A Dungworth - Director



W J O Hutchinson - Director


ASCENT HOMES LIMITED (REGISTERED NUMBER: 11948702)

NOTES TO THE FINANCIAL STATEMENTS
for the Year Ended 30 April 2024

1. STATUTORY INFORMATION

Ascent Homes 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 (£).


All monetary values stated within these financial statements are rounded to the nearest £.

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 as modified by the revaluation of certain assets.

Turnover
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, 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 - 33% on cost
Fixtures and fittings - 33% on cost
Computer equipment - 33% 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.

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.


ASCENT HOMES LIMITED (REGISTERED NUMBER: 11948702)

NOTES TO THE FINANCIAL STATEMENTS - continued
for the Year Ended 30 April 2024

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 2 (2023 - 2 ) .

4. TANGIBLE FIXED ASSETS
Fixtures
Plant and and Computer
machinery fittings equipment Totals
£    £    £    £   
COST
At 1 May 2023 438 11,817 219 12,474
Additions - 2,470 - 2,470
At 30 April 2024 438 14,287 219 14,944
DEPRECIATION
At 1 May 2023 110 1,023 190 1,323
Charge for year 146 4,598 29 4,773
At 30 April 2024 256 5,621 219 6,096
NET BOOK VALUE
At 30 April 2024 182 8,666 - 8,848
At 30 April 2023 328 10,794 29 11,151

ASCENT HOMES LIMITED (REGISTERED NUMBER: 11948702)

NOTES TO THE FINANCIAL STATEMENTS - continued
for the Year Ended 30 April 2024

5. INVESTMENT PROPERTY
Total
£   
FAIR VALUE
At 1 May 2023 949,000
Additions 260,893
Disposals (123,241 )
Revaluations 52,473
Reclassification/transfer 80,875
At 30 April 2024 1,220,000
NET BOOK VALUE
At 30 April 2024 1,220,000
At 30 April 2023 949,000

Fair value at 30 April 2024 is represented by:
£   
Valuation in 2021 50,935
Valuation in 2022 14,744
Valuation in 2023 257,343
Valuation in 2024 52,473
Cost 844,505
1,220,000

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
30.4.24 30.4.23
£    £   
Other debtors 19,777 57,148

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
30.4.24 30.4.23
£    £   
Bank loans and overdrafts 2,397 5,000
Trade creditors 36 7
Taxation and social security - 151
Other creditors 145,962 127,385
148,395 132,543

ASCENT HOMES LIMITED (REGISTERED NUMBER: 11948702)

NOTES TO THE FINANCIAL STATEMENTS - continued
for the Year Ended 30 April 2024

8. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN
ONE YEAR
30.4.24 30.4.23
£    £   
Bank loans 702,090 500,842
Other creditors 89,454 86,250
791,544 587,092

9. SECURED DEBTS

The following secured debts are included within creditors:

30.4.24 30.4.23
£    £   
Bank loans 704,487 505,842

10. RESERVES
Fair
value
reserve
£   
At 1 May 2023 274,757
Fair value reval'ns unrealised 6,863

At 30 April 2024 281,620