Company registration number 14812702 (England and Wales)
AASHYAN LIMITED
UNAUDITED FINANCIAL STATEMENTS
FOR THE PERIOD FROM 18 APRIL 2023 TO 30 APRIL 2024
PAGES FOR FILING WITH REGISTRAR
AASHYAN LIMITED
CONTENTS
Page
Balance sheet
1
Notes to the financial statements
2 - 4
AASHYAN LIMITED
BALANCE SHEET
AS AT
30 APRIL 2024
30 April 2024
- 1 -
2024
Notes
£
£
Fixed assets
Tangible assets
4
562
Investment property
5
167,056
167,618
Current assets
Cash at bank and in hand
1,946
Creditors: amounts falling due within one year
6
(54,379)
Net current liabilities
(52,433)
Total assets less current liabilities
115,185
Creditors: amounts falling due after more than one year
7
(120,007)
Net liabilities
(4,822)
Capital and reserves
Called up share capital
8
100
Profit and loss reserves
(4,922)
Total equity
(4,822)
The director of the company has elected not to include a copy of the profit and loss account within the financial statements.true
For the financial Period ended 30 April 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
The director acknowledges his responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.
The member has not required the company to obtain an audit of its financial statements for the Period 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 and signed by the director and authorised for issue on 28 December 2024
Aashish Tanna
Director
Company registration number 14812702 (England and Wales)
AASHYAN LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 30 APRIL 2024
- 2 -
1
Accounting policies
Company information
Aashyan Limited is a private company limited by shares incorporated in England and Wales. The registered office is Flat 11, Taona House, Merrion Avenue, Stanmore, England, HA7 4BS.
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 include the revaluation of investment properties and certain financial instruments at fair value. The principal accounting policies adopted are set out below.
1.2
Turnover
Turnover is recognised at the fair value of the consideration received or receivable from renting the property in the normal course of business.
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:
Computers
25% per annum on a reducing balance method
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 property
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
Cash and cash equivalents
Cash and cash equivalents are basic financial assets and include cash in hand, deposits held at call with banks, other short-term liquid investments with original maturities of three months or less, and bank overdrafts. Bank overdrafts are shown within borrowings in current liabilities.
AASHYAN LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE PERIOD ENDED 30 APRIL 2024
1
Accounting policies
(Continued)
- 3 -
1.6
Leases
Rental income from operating leases is recognised on a straight line basis over the term of the relevant lease. Initial direct costs incurred in negotiating and arranging an operating lease are added to the carrying amount of the leased asset and recognised on a straight line basis over the lease term.
2
Judgements and key sources of estimation uncertainty
In the application of the company’s accounting policies, the director is required to make judgements, estimates and assumptions about the carrying amount of assets and liabilities that are not readily apparent from other sources. The estimates and associated assumptions are based on historical experience and other factors that are considered to be relevant. Actual results may differ from these estimates.
The estimates and underlying assumptions are reviewed on an ongoing basis. Revisions to accounting estimates are recognised in the period in which the estimate is revised where the revision affects only that period, or in the period of the revision and future periods where the revision affects both current and future periods.
3
Employees
The average monthly number of persons (including directors) employed by the company during the Period was:
2024
Number
Total
1
4
Tangible fixed assets
Plant and machinery etc
£
Cost
At 18 April 2023
Additions
750
At 30 April 2024
750
Depreciation and impairment
At 18 April 2023
Depreciation charged in the Period
188
At 30 April 2024
188
Carrying amount
At 30 April 2024
562
AASHYAN LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE PERIOD ENDED 30 APRIL 2024
- 4 -
5
Investment property
2024
£
Fair value
At 18 April 2023
Additions
167,056
At 30 April 2024
167,056
Investment property was revalued by the Director. The fair value of the investment property has been arrived at on the basis of a valuation carried out at 30 April 2024 by the Director. The valuation was made on an open market value basis by reference to market evidence of transaction prices for similar properties.
6
Creditors: amounts falling due within one year
2024
£
Other creditors
54,379
7
Creditors: amounts falling due after more than one year
2024
£
Bank loans and overdrafts
120,007
The long-term bank loan is secured by a legal charge against investment property 54 Woolmer Road, The Meadows, Nottingham, NG2 2FB under title number NT122642.
8
Called up share capital
2024
2024
Ordinary share capital
Number
£
Issued and fully paid
Ordinary share of £1 each
100
100