Registered number
11352448
Ascentia Investments Limited
Unaudited Filleted Accounts
31 May 2024
Ascentia Investments Limited
Registered number: 11352448
Balance Sheet
as at 31 May 2024
Notes 2024 2023
£ £
Current assets
Investments held as current assets 3 1,096,209 994,720
Cash at bank and in hand 22,747 28,829
1,118,956 1,023,549
Creditors: amounts falling due within one year 4 (824,016) (826,028)
Net current assets 294,940 197,521
Net assets 294,940 197,521
Capital and reserves
Called up share capital 4 4
Profit and loss account 294,936 197,517
Shareholders' funds 294,940 197,521
The director is satisfied that the company is entitled to exemption from the requirement to obtain an audit under section 477 of the Companies Act 2006.
The members have not required the company to obtain an audit in accordance with section 476 of the Act.
The director acknowledges her responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts.
The accounts have been prepared and delivered in accordance with the special provisions applicable to companies subject to the small companies regime. The profit and loss account has not been delivered to the Registrar of Companies.
K Davies
Director
Approved by the board on 18 February 2025
Ascentia Investments Limited
Notes to the Accounts
for the year ended 31 May 2024
1 Accounting policies
Basis of preparation
The accounts have been prepared under the historical cost convention and in accordance with FRS 102, The Financial Reporting Standard applicable in the UK and Republic of Ireland (as applied to small entities by section 1A of the standard).
Investments
Listed investments are measured at fair value. Unlisted investments are measured at fair value unless the value cannot be measured reliably, in which case they are measured at cost less any accumulated impairment losses. Changes in fair value are included in the profit and loss account.
Debtors
Short term debtors are measured at transaction price (which is usually the invoice price), less any impairment losses for bad and doubtful debts. Loans and other financial assets are initially recognised at transaction price including any transaction costs and subsequently measured at amortised cost determined using the effective interest method, less any impairment losses for bad and doubtful debts.
Creditors
Short term creditors are measured at transaction price (which is usually the invoice price). Loans and other financial liabilities are initially recognised at transaction price net of any transaction costs and subsequently measured at amortised cost determined using the effective interest method.
Taxation
A current tax liability is recognised for the tax payable on the taxable profit of the current and past periods. A current tax asset is recognised in respect of a tax loss that can be carried back to recover tax paid in a previous period. Unrealised revaluation gains and losses are not taxable.
Foreign currency translation
Transactions in foreign currencies are initially recognised at the rate of exchange ruling at the date of the transaction. At the end of each reporting period foreign currency monetary items are translated at the closing rate of exchange. Non-monetary items that are measured at historical cost are translated at the rate ruling at the date of the transaction. All differences are charged to profit or loss.
2 Employees 2024 2023
Number Number
Average number of persons employed by the company 1 1
3 Investments held as current assets 2024 2023
£ £
Fair value
Listed investments 1,096,209 994,720
Increase/(decrease) in fair value included in the profit and loss account for the financial year
Listed investments - unrealised gain 101,489 38,876
Original cost of listed investments 793,369 793,369
4 Creditors: amounts falling due within one year 2024 2023
£ £
Other creditors 824,016 826,028
5 Related party transactions
The following 25% shareholders each provided interest free loans to the company with the amount outstanding at the year end shown alongside their names. K Davies £282,999 (2023: £282,999); B Kavin £179,999 (2023: £179,999); A Berkow £179,999 (2023: £179,999); and B Lambiase £179,999 (2023: £179,999).
6 Controlling party
There is no single controlling party. K Davies, together with B Kavin, control the majority of the voting rights in the company.
7 Other information
Ascentia Investments Limited is a private company limited by shares and incorporated in England. Its registered office is:
Room 601
Dephna Kitchens
2 Portal Way
London
W3 6RT
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