Silverfin false false 30/04/2024 01/05/2023 30/04/2024 Mark Jonathan Daniel Cox 20/01/2021 Oliver Thomas James Cox 07/04/2021 Toby Michael Cox 07/04/2021 Nicholas Dean Rogers 07/04/2021 Samantha Jane Rogers 07/04/2021 31 January 2025 The principal activity of the Company during the financial period was the letting of real estate. 13147875 2024-04-30 13147875 bus:Director1 2024-04-30 13147875 bus:Director2 2024-04-30 13147875 bus:Director3 2024-04-30 13147875 bus:Director4 2024-04-30 13147875 bus:Director5 2024-04-30 13147875 2023-04-30 13147875 core:CurrentFinancialInstruments 2024-04-30 13147875 core:CurrentFinancialInstruments 2023-04-30 13147875 core:Non-currentFinancialInstruments 2024-04-30 13147875 core:Non-currentFinancialInstruments 2023-04-30 13147875 core:ShareCapital 2024-04-30 13147875 core:ShareCapital 2023-04-30 13147875 core:RetainedEarningsAccumulatedLosses 2024-04-30 13147875 core:RetainedEarningsAccumulatedLosses 2023-04-30 13147875 core:CurrentFinancialInstruments 1 2024-04-30 13147875 core:CurrentFinancialInstruments 1 2023-04-30 13147875 2022-04-30 13147875 bus:OrdinaryShareClass1 2024-04-30 13147875 2023-05-01 2024-04-30 13147875 bus:FilletedAccounts 2023-05-01 2024-04-30 13147875 bus:SmallEntities 2023-05-01 2024-04-30 13147875 bus:AuditExemptWithAccountantsReport 2023-05-01 2024-04-30 13147875 bus:PrivateLimitedCompanyLtd 2023-05-01 2024-04-30 13147875 bus:Director1 2023-05-01 2024-04-30 13147875 bus:Director2 2023-05-01 2024-04-30 13147875 bus:Director3 2023-05-01 2024-04-30 13147875 bus:Director4 2023-05-01 2024-04-30 13147875 bus:Director5 2023-05-01 2024-04-30 13147875 2022-05-01 2023-04-30 13147875 core:Non-currentFinancialInstruments 2023-05-01 2024-04-30 13147875 bus:OrdinaryShareClass1 2023-05-01 2024-04-30 13147875 bus:OrdinaryShareClass1 2022-05-01 2023-04-30 iso4217:GBP xbrli:pure xbrli:shares

Company No: 13147875 (England and Wales)

ASHTONS PROPERTIES LTD

Unaudited Financial Statements
For the financial year ended 30 April 2024
Pages for filing with the registrar

ASHTONS PROPERTIES LTD

Unaudited Financial Statements

For the financial year ended 30 April 2024

Contents

ASHTONS PROPERTIES LTD

STATEMENT OF FINANCIAL POSITION

As at 30 April 2024
ASHTONS PROPERTIES LTD

STATEMENT OF FINANCIAL POSITION (continued)

As at 30 April 2024
Note 2024 2023
£ £
Fixed assets
Investment property 4 5,358,500 5,267,606
5,358,500 5,267,606
Current assets
Debtors 5 624,532 815,202
Cash at bank and in hand 9,255 8,312
633,787 823,514
Creditors: amounts falling due within one year 6 ( 192,927) ( 217,405)
Net current assets 440,860 606,109
Total assets less current liabilities 5,799,360 5,873,715
Creditors: amounts falling due after more than one year 7 ( 3,036,875) ( 3,186,925)
Net assets 2,762,485 2,686,790
Capital and reserves
Called-up share capital 9 2,743,814 2,743,814
Profit and loss account 18,671 ( 57,024 )
Total shareholders' funds 2,762,485 2,686,790

For the financial year ending 30 April 2024 the Company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Directors' responsibilities:

These financial statements have been prepared in accordance with the provisions of FRS 102 Section 1A – small entities. The financial statements of Ashtons Properties Ltd (registered number: 13147875) were approved and authorised for issue by the Board of Directors on 31 January 2025. They were signed on its behalf by:

Mark Jonathan Daniel Cox
Director
ASHTONS PROPERTIES LTD

NOTES TO THE FINANCIAL STATEMENTS

For the financial year ended 30 April 2024
ASHTONS PROPERTIES LTD

NOTES TO THE FINANCIAL STATEMENTS

For the financial year ended 30 April 2024
1. Accounting policies

The principal accounting policies are summarised below. They have all been applied consistently throughout the financial year and to the preceding financial year, unless otherwise stated.

General information and basis of accounting

Ashtons Properties Ltd (the Company) is a private company, limited by shares, incorporated in the United Kingdom under the Companies Act 2006 and is registered in England and Wales. The address of the Company's registered office is Leatside Challabrook Lane, Bovey Tracey, Newton Abbot, TQ13 9DF, United Kingdom.

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 items at fair value, and in accordance with Section 1A of Financial Reporting Standard 102 (FRS 102) ‘The Financial Reporting Standard applicable in the UK and Republic of Ireland’ issued by the Financial Reporting Council and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime.

The financial statements are presented in pounds sterling which is the functional currency of the Company and rounded to the nearest £.

Going concern

The directors have assessed the Statement of Financial Position and likely future cash flows at the date of approving these financial statements. The directors have a reasonable expectation that the Company has adequate resources to continue in operational existence and to meet its financial obligations as they fall due for at least 12 months from the date of signing these financial statements. Accordingly, they continue to adopt the going concern basis in preparing the financial statements.

Turnover

Turnover is recognised at the fair value of the consideration received or receivable for goods and services provided in the normal course of business, and is shown net of VAT and other sales related taxes. The fair value of consideration takes into account trade discounts, settlement discounts and volume rebates.

Turnover is recognised when the significant risks and rewards are considered to have been transferred to the customer.

Taxation

Current tax
Current tax is provided at amounts expected to be paid (or recoverable) using the tax rates and laws that have been enacted or substantively enacted at the Statement of Financial Position date.

Impairment of assets

Assets, other than those measured at fair value, are assessed for indicators of impairment at each Statement of Financial Position date. If there is objective evidence of impairment, an impairment loss is recognised in the Statement of Income and Retained Earnings as described below.

Investment property

Investment property is initially recognised at cost, which includes the purchase cost and any directly attributable expenditure. Subsequently it is measured at fair value at each reporting date with changes in fair value recognised in profit or loss. Deferred taxation is provided on these gains at the rate expected to apply when the property is sold.

The fair value is determined annually by the directors, on an open market value for existing use basis.

Trade and other debtors

Trade and other debtors are initially recognised at fair value and thereafter stated at amortised cost using the effective interest method less impairment losses for bad and doubtful debts, except where the effect of discounting would be immaterial. In such cases the receivables are stated at cost less impairment losses for bad and doubtful debts.

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 creditors: amounts falling due within one year.

Trade and other creditors

Trade and other creditors are initially recognised at fair value and thereafter stated at amortised cost using the effective interest rate method, unless the effect of discounting would be immaterial, in which case they are stated at cost.

Financial instruments

Financial assets and financial liabilities are recognised when the Company becomes a party to the contractual provisions of the instrument.

Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instrument is any contract that evidences a residual interest in the assets of the Company after deducting all of its liabilities.

Financial assets and liabilities are only offset in the Balance Sheet when, and only when there exists a legally enforceable right to set off the recognised amounts and the Company intends either to settle on a net basis, or to realise the asset and settle the liability simultaneously.

Ordinary share capital

The ordinary share capital of the Company is presented as equity.

2. Critical accounting judgements and key sources of estimation uncertainty

In the application of the Company’s accounting policies, the directors are required to make judgements that have a significant impact on the amounts recognised. The following are the critical judgements that the directors have made in the process of applying the Company’s accounting policies and that have the most significant effect on the amounts recognised in the financial statements.

Valuation of investment properties at £5,065,717

3. Employees

2024 2023
Number Number
Monthly average number of persons employed by the Company during the year, including directors 5 5

4. Investment property

Investment property
£
Valuation
As at 01 May 2023 5,267,606
Additions 10,473
Fair value movement 292,784
Disposals (212,363)
As at 30 April 2024 5,358,500

Historic cost

If the investment properties had been accounted for under the cost accounting rules, the properties would have been measured as follows:

5. Debtors

2024 2023
£ £
Amounts owed by directors 54,401 99,441
Other debtors 570,131 715,761
624,532 815,202

6. Creditors: amounts falling due within one year

2024 2023
£ £
Trade creditors 4,800 2,889
Amounts owed to directors 19,923 26,523
Accruals and deferred income 12,912 9,715
Corporation tax 2,110 6,561
Deferred tax liability 19,265 0
Other creditors 133,917 171,717
192,927 217,405

7. Creditors: amounts falling due after more than one year

2024 2023
£ £
Bank loans 3,036,875 3,186,925

The bank loans are secured against the property to which they relate.

8. Deferred tax

2024 2023
£ £
At the beginning of financial year 0 0
Charged to the Statement of Income and Retained Earnings ( 19,265) 0
At the end of financial year ( 19,265) 0

9. Called-up share capital

2024 2023
£ £
Allotted, called-up and fully-paid
2,743,814 Ordinary shares of £ 1.00 each 2,743,814 2,743,814

10. Related party transactions

Transactions with the entity's directors

2024 2023
£ £
Amounts owed to directors 19,923 26,523
Amounts owed by directors 54,401 99,441

Interest is charged at 2.25% per annum based on the HMRC official rate on overdrawn balances. There are no fixed repayment terms.