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REGISTERED NUMBER: 03225491 (England and Wales)















Financial Statements for the Year Ended 30 April 2024

for

Ascot Properties UK Limited

Ascot Properties UK Limited (Registered number: 03225491)






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


Ascot Properties UK Limited

Company Information
for the Year Ended 30 April 2024







DIRECTORS: T P Riley
Mrs L S Riley





SECRETARY: T P Riley





REGISTERED OFFICE: 122 South Road
Waterloo
Liverpool
Merseyside
L22 0ND





REGISTERED NUMBER: 03225491 (England and Wales)





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

Ascot Properties UK Limited (Registered number: 03225491)

Balance Sheet
30 April 2024

30.4.24 30.4.23
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 1,611 1,895
Investment property 5 8,902,440 8,902,440
8,904,051 8,904,335

CURRENT ASSETS
Stocks 1,692,765 1,692,765
Debtors 6 84,162 43,260
Cash at bank and in hand 302,727 239,423
2,079,654 1,975,448
CREDITORS
Amounts falling due within one year 7 3,769,531 3,809,381
NET CURRENT LIABILITIES (1,689,877 ) (1,833,933 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

7,214,174

7,070,402

CREDITORS
Amounts falling due after more than one
year

8

(4,337,452

)

(4,483,662

)

PROVISIONS FOR LIABILITIES (380,741 ) (376,789 )
NET ASSETS 2,495,981 2,209,951

CAPITAL AND RESERVES
Called up share capital 4 4
Retained earnings 2,495,977 2,209,947
SHAREHOLDERS' FUNDS 2,495,981 2,209,951

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.

Ascot Properties UK Limited (Registered number: 03225491)

Balance Sheet - continued
30 April 2024


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 27 January 2025 and were signed on its behalf by:





T P Riley - Director


Ascot Properties UK Limited (Registered number: 03225491)

Notes to the Financial Statements
for the Year Ended 30 April 2024

1. STATUTORY INFORMATION

Ascot Properties UK 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.

Related party exemption
The company has taken advantage of exemption, under the terms of Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland', not to disclose related party transactions with wholly owned subsidiaries within the group.

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 represents the fair value of the consideration of properties sold, commissions received and rental income. Turnover is accounted for in the period to which it relates.

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 - 25% on cost
Fixtures and fittings - 15% on reducing balance
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.

Stocks
Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.

Financial instruments
Bank 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.

Financial assets that are measured at amortised cost are assessed at the end of each reporting period for objective evidence of impairment. If objective evidence of impairment is found, an impairment loss is recognised in profit and loss.


Ascot Properties UK Limited (Registered number: 03225491)

Notes to the Financial Statements - continued
for the Year Ended 30 April 2024

2. ACCOUNTING POLICIES - continued
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.

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.

Pension costs and other post-retirement benefits
The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 3 (2023 - 4 ) .

4. TANGIBLE FIXED ASSETS
Fixtures
Plant and and Computer
machinery fittings equipment Totals
£    £    £    £   
COST
At 1 May 2023
and 30 April 2024 27,913 5,649 25,928 59,490
DEPRECIATION
At 1 May 2023 27,913 3,754 25,928 57,595
Charge for year - 284 - 284
At 30 April 2024 27,913 4,038 25,928 57,879
NET BOOK VALUE
At 30 April 2024 - 1,611 - 1,611
At 30 April 2023 - 1,895 - 1,895

Ascot Properties UK Limited (Registered number: 03225491)

Notes to the Financial Statements - continued
for the Year Ended 30 April 2024

5. INVESTMENT PROPERTY
Total
£   
FAIR VALUE
At 1 May 2023
and 30 April 2024 8,902,440
NET BOOK VALUE
At 30 April 2024 8,902,440
At 30 April 2023 8,902,440

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
30.4.24 30.4.23
£    £   
Trade debtors 80,762 39,860
Other debtors 3,400 3,400
84,162 43,260

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
30.4.24 30.4.23
£    £   
Bank loans and overdrafts 150,000 150,000
Trade creditors 5,594 24,875
Amounts owed to group undertakings 3,525,617 3,553,022
Taxation and social security 31,006 25,842
Other creditors 57,314 55,642
3,769,531 3,809,381

8. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
30.4.24 30.4.23
£    £   
Bank loans 4,337,452 4,483,662

Amounts falling due in more than five years:

Repayable otherwise than by instalments
Bank loans due after 5 years 3,823,876 3,883,662

9. SECURED DEBTS

The following secured debts are included within creditors:

30.4.24 30.4.23
£    £   
Bank loans 4,487,452 4,633,662

Ascot Properties UK Limited (Registered number: 03225491)

Notes to the Financial Statements - continued
for the Year Ended 30 April 2024

10. RELATED PARTY DISCLOSURES

T P Riley is also a director of Ascot Waterloo Limited,.

At 30th April 2024 £3,525,617 (2023 £3,553,022) is included in creditors owing to Ascot Waterloo Limited.

This loan is interest free and repayable on demand.