Company registration number 06625411 (England and Wales)
ASHCOM HOLDINGS LIMITED
UNAUDITED FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JULY 2024
PAGES FOR FILING WITH REGISTRAR
ASHCOM HOLDINGS LIMITED
CONTENTS
Page
Balance sheet
1
Notes to the financial statements
2 - 4
ASHCOM HOLDINGS LIMITED
BALANCE SHEET
AS AT
31 JULY 2024
31 July 2024
- 1 -
2024
2023
Notes
£
£
£
£
Fixed assets
Tangible assets
3
2,375
2,125
Investment property
1,000,000
930,000
1,002,375
932,125
Current assets
Cash at bank and in hand
74,437
67,616
Creditors: amounts falling due within one year
4
(619,115)
(570,812)
Net current liabilities
(544,678)
(503,196)
Total assets less current liabilities
457,697
428,929
Creditors: amounts falling due after more than one year
5
(242,462)
(269,022)
Net assets
215,235
159,907
Capital and reserves
Called up share capital
6
6
Profit and loss reserves
6
215,229
159,901
Total equity
215,235
159,907

The directors of the company have elected not to include a copy of the profit and loss account within the financial statements.true

For the financial year ended 31 July 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

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 members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476.

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

The financial statements were approved by the board of directors and authorised for issue on 13 January 2025 and are signed on its behalf by:
Mr R Ashtari
Director
Company registration number 06625411 (England and Wales)
ASHCOM HOLDINGS LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JULY 2024
- 2 -
1
Accounting policies
Company information

Ashcom Holdings Limited is a private company limited by shares incorporated in England and Wales. The registered office is Wessex House, Teign Road, Newton Abbot, Devon, TQ12 4AA.

1.1
Accounting convention

These financial statements have been prepared in accordance with FRS 102 “The Financial Reporting Standard applicable in the UK and Republic of Ireland” (“FRS 102”) and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime. 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.

The financial statements are prepared in sterling, which is the functional currency of the company. Monetary amounts in these financial statements are rounded to the nearest £.

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 financial instruments at fair value]. The principal accounting policies adopted are set out below.

1.2
Turnover

Turnover represents amounts receivable for property rental net of VAT and trade discounts.

1.3
Tangible fixed assets

Tangible fixed assets are initially measured at cost and subsequently measured at cost or valuation, net of depreciation and any impairment losses.

Depreciation is recognised so as to write off the cost or valuation of assets less their residual values over their useful lives on the following bases:

Land and buildings Freehold
Not depreciated
Plant and machinery
25% on a straight line basis

The gain or loss arising on the disposal of an asset is determined as the difference between the sale proceeds and the carrying value of the asset, and is credited or charged to profit or loss.

1.4
Investment properties

Investment property, which is property held to earn rentals and/or for capital appreciation, is initially recognised at cost, which includes the purchase cost and any directly attributable expenditure. Subsequently it is measured at fair value at the reporting end date. Changes in fair value are recognised in profit or loss.

1.5
Taxation

The tax expense represents the sum of the tax currently payable and deferred tax.

2
Employees

The average monthly number of persons (including directors) employed by the company during the year was:

2024
2023
Number
Number
Total
3
3
ASHCOM HOLDINGS LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 JULY 2024
- 3 -
3
Tangible fixed assets
Plant and machinery etc
£
Cost
At 1 August 2023
39,109
Additions
1,082
At 31 July 2024
40,191
Depreciation and impairment
At 1 August 2023
36,984
Depreciation charged in the year
832
At 31 July 2024
37,816
Carrying amount
At 31 July 2024
2,375
At 31 July 2023
2,125
4
Creditors: amounts falling due within one year
2024
2023
£
£
Bank loans
30,848
33,697
Corporation tax
3,937
3,100
Other taxation and social security
10,137
9,099
Other creditors
574,193
524,916
619,115
570,812

Other creditors includes £534,461 (2023: £486,060) owed to the director. The loan is unsecured, interest free and carries no fixed repayment terms.

5
Creditors: amounts falling due after more than one year
2024
2023
£
£
Bank loans and overdrafts
242,462
269,022
Creditors which fall due after five years are as follows:
2024
2023
£
£
Payable by instalments
123,967
136,631
ASHCOM HOLDINGS LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 JULY 2024
- 4 -
6
Profit and loss reserves
2024
2023
£
£
At the beginning of the year
159,901
178,735
Profit for the year
87,328
13,166
Dividends declared and paid in the year
(32,000)
(32,000)
At the end of the year
215,229
159,901

Included in retained earnings is £200,000 relating to the investment property fair value movements. This proportion of retained earnings is not distributable.

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