Company registration number 06200917 (England and Wales)
Ashmede Holdings Ltd
Annual report and unaudited financial statements
For the year ended 31 August 2024
Ashmede Holdings Ltd
Company information
Director
Mr R K Advani
Secretary
Mr R K Advani
Company number
06200917
Registered office
First Floor Office Suite
Mill B Colne Road Buildings
Colne Road
Huddersfield
West Yorkshire
England
HD1 3AG
Accountants
DJH Huddersfield Limited
Bates Mill
Colne Road
Huddersfield
HD1 3AG
Ashmede Holdings Ltd
Contents
Page
Director's report
1
Income statement
2
Statement of financial position
3
Notes to the financial statements
4 - 6
Ashmede Holdings Ltd
Director's report
For the year ended 31 August 2024
- 1 -
The director presents his annual report and financial statements for the year ended 31 August 2024.
Director
The director who held office during the year and up to the date of signature of the financial statements was as follows:
Mr R K Advani
Small companies exemption
This report has been prepared in accordance with the provisions applicable to companies entitled to the small companies exemption.
On behalf of the board
Mr R K Advani
Director
29 October 2024
Ashmede Holdings Ltd
Income statement
For the year ended 31 August 2024
- 2 -
The company has not traded during the current or preceding year. It received no income and incurred no expenditure, and therefore made neither profit nor loss.
Ashmede Holdings Ltd
Statement of financial position
As at 31 August 2024
- 3 -
2024
2023
Notes
£
£
£
£
Fixed assets
Investments
3
10
10
Current assets
Debtors
4
1
1
Creditors: amounts falling due within one year
5
(10)
(10)
Net current liabilities
(9)
(9)
Net assets
1
1
Capital and reserves
Called up share capital
6
1
1
For the financial year ended 31 August 2024 the company was entitled to exemption from audit under section 480 of the Companies Act 2006 relating to dormant companies.
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.
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.
These financial statements have been prepared 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 29 October 2024
Mr R K Advani
Director
Company registration number 06200917 (England and Wales)
Ashmede Holdings Ltd
Notes to the financial statements
For the year ended 31 August 2024
- 4 -
1
Accounting policies
Company information
Ashmede Holdings Ltd is a private company limited by shares incorporated in England and Wales. The registered office is First Floor Office Suite, Mill B Colne Road Buildings, Colne Road, Huddersfield, West Yorkshire, England, HD1 3AG.
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. The principal accounting policies adopted are set out below.
1.2
Fixed asset investments
Fixed asset investments are stated at cost.
1.3
Financial instruments
The company has elected to apply the provisions of Section 11 ‘Basic Financial Instruments’ and Section 12 ‘Other Financial Instruments Issues’ of FRS 102 to all of its financial instruments.
Financial instruments are recognised in the company's statement of financial position when the company becomes party to the contractual provisions of the instrument.
Financial assets and liabilities are offset, with the net amounts presented in the financial statements, when there is a legally enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously.
Basic financial assets
Basic financial assets, which include debtors and cash and bank balances, are initially measured at transaction price including transaction costs and are subsequently carried at amortised cost using the effective interest method unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest. Financial assets classified as receivable within one year are not amortised.
Classification of financial liabilities
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.
Ashmede Holdings Ltd
Notes to the financial statements (continued)
For the year ended 31 August 2024
1
Accounting policies
(Continued)
- 5 -
Basic financial liabilities
Basic financial liabilities, including creditors, bank loans, loans from fellow group companies and preference shares that are classified as debt, are initially recognised at transaction price unless the arrangement constitutes a financing transaction, where the debt instrument is measured at the present value of the future payments discounted at a market rate of interest. Financial liabilities classified as payable within one year are not amortised.
Debt instruments are subsequently carried at amortised cost, using the effective interest rate method.
Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Amounts payable are classified as current liabilities if payment is due within one year or less. If not, they are presented as non-current liabilities. Trade creditors are recognised initially at transaction price and subsequently measured at amortised cost using the effective interest method.
1.4
Equity instruments
Equity instruments issued by the company are recorded at the proceeds received, net of transaction costs. Dividends payable on equity instruments are recognised as liabilities once they are no longer at the discretion of the company.
2
Average number of employees
The average number of employees during the year was NIL (2023 - NIL).
3
Fixed asset investments
2024
2023
£
£
Other investments other than loans
10
10
The investment relates to capital invested in Advani Properties LLP, a limited liability partnership registered in England and Wales, of which the company is a designated member.
The company is not entitled to a profit share from Advani Properties LLP. The company's capital account balance in Advani Properties LLP has remained at £10 from its date of joining.
4
Debtors
2024
2023
Amounts falling due within one year:
£
£
Other debtors
1
1
5
Creditors: amounts falling due within one year
2024
2023
£
£
Other creditors
10
10
Ashmede Holdings Ltd
Notes to the financial statements (continued)
For the year ended 31 August 2024
- 6 -
6
Called up share capital
2024
2023
2024
2023
Ordinary share capital
Number
Number
£
£
Issued and not fully paid
Ordinary of £1 each
1
1
1
1
7
Related party transactions
The company is a designated member of Advani Properties LLP. At the balance sheet date £10 (2023 - £10) was due from the company to Advani Properties LLP and included within other creditors.