REGISTERED NUMBER: |
UNAUDITED FINANCIAL STATEMENTS |
FOR THE YEAR ENDED 30TH SEPTEMBER 2024 |
FOR |
ASHLAWN GARDENS LIMITED |
REGISTERED NUMBER: |
UNAUDITED FINANCIAL STATEMENTS |
FOR THE YEAR ENDED 30TH SEPTEMBER 2024 |
FOR |
ASHLAWN GARDENS LIMITED |
ASHLAWN GARDENS LIMITED (REGISTERED NUMBER: 02217548) |
CONTENTS OF THE FINANCIAL STATEMENTS |
FOR THE YEAR ENDED 30TH SEPTEMBER 2024 |
Page |
Company Information | 1 |
Balance Sheet | 2 |
Notes to the Financial Statements | 3 |
ASHLAWN GARDENS LIMITED |
COMPANY INFORMATION |
FOR THE YEAR ENDED 30TH SEPTEMBER 2024 |
DIRECTOR: |
REGISTERED OFFICE: |
BUSINESS ADDRESS: |
REGISTERED NUMBER: |
ASHLAWN GARDENS LIMITED (REGISTERED NUMBER: 02217548) |
BALANCE SHEET |
30TH SEPTEMBER 2024 |
2024 | 2023 |
Notes | £ | £ |
CURRENT ASSETS |
Debtors | 5 |
Cash at bank and in hand |
CREDITORS |
Amounts falling due within one year | 6 |
NET CURRENT ASSETS |
TOTAL ASSETS LESS CURRENT LIABILITIES |
CAPITAL AND RESERVES |
Called up share capital | 7 |
Building fund reserve | 8 |
Retained earnings | 8 |
SHAREHOLDERS' FUNDS |
The director acknowledges his 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. |
The financial statements were approved by the director and authorised for issue on |
ASHLAWN GARDENS LIMITED (REGISTERED NUMBER: 02217548) |
NOTES TO THE FINANCIAL STATEMENTS |
FOR THE YEAR ENDED 30TH SEPTEMBER 2024 |
1. | STATUTORY INFORMATION |
Ashlawn Gardens Limited is a |
The presentation currency of the financial statements is the Pound Sterling (£). |
2. | STATEMENT OF COMPLIANCE |
3. | ACCOUNTING POLICIES |
Basis of preparing the financial statements |
Turnover |
The turnover shown in the profit and loss account represents amounts invoiced during the year. |
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. |
Foreign currencies |
Assets and liabilities in foreign currencies are translated into sterling at the rates of exchange ruling at the balance sheet date. Transactions in foreign currencies are translated into sterling at the rate of exchange ruling at the date of transaction. Exchange differences are taken into account in arriving at the operating result. |
Pension costs and other post-retirement benefits |
The company contributes to a defined contribution pension scheme. Contributions payable to the pension scheme are charged to profit or loss in the period to which they relate. |
Debtors and creditors receivable / payable within one year |
Debtors and creditors with no stated interest rate and receivable or payable within one year are recorded at transaction price. Any losses arising from impairment are recognised in the Income Statement in administrative expenses. |
Operating lease agreements |
Rentals applicable to operating leases where substantially all of the benefits and risks of ownership remain with the lessor are charged against profits on a straight line basis over the period of the lease. |
4. | EMPLOYEES AND DIRECTORS |
The average number of employees during the year was |
ASHLAWN GARDENS LIMITED (REGISTERED NUMBER: 02217548) |
NOTES TO THE FINANCIAL STATEMENTS - continued |
FOR THE YEAR ENDED 30TH SEPTEMBER 2024 |
5. | DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
2024 | 2023 |
£ | £ |
Trade debtors |
Amounts owed by group undertakings |
Other debtors |
6. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
2024 | 2023 |
£ | £ |
Trade creditors |
Taxation and social security |
Other creditors |
7. | CALLED UP SHARE CAPITAL |
Allotted, issued and fully paid: |
Number: | Class: | Nominal | 2024 | 2023 |
value: | £ | £ |
Ordinary Class A | £1 | 100 | 100 |
Ordinary Class B | £1 | 2 | 2 |
102 | 102 |
8. | RESERVES |
Building |
Retained | fund |
earnings | reserve | Totals |
£ | £ | £ |
At 1st October 2023 | 217,722 |
Profit for the year | - |
Dividends | ( |
) | - | ( |
) |
Trf to/from Building fund | (9,853 | ) | 9,853 | - |
At 30th September 2024 | 209,525 |
The building fund reserve relates to funds held by the company on trust on behalf of the residents. Ashlawn Gardens Limited is entitled to a service charge from the residents as this fund is spent. |
On the disposal of any property at Ashlawn Gardens by the leaseholder, a charge of 1% of the purchase price of the property multiplied by the number of years of ownership is made to the maintenance company and is held in the building fund reserve to finance future property repairs. |
9. | RELATED PARTY DISCLOSURES |
The company has taken advantage of exemption, under the terms of Financial Reporting Standard 102 Section 1A 'The Financial Reporting Standard applicable in the UK and Republic of Ireland', not to disclose related party transactions or balances with group companies where any subsidiary that is a party to the transaction is wholly owned within the group or where transactions have been undertaken under normal market conditions. |
ASHLAWN GARDENS LIMITED (REGISTERED NUMBER: 02217548) |
NOTES TO THE FINANCIAL STATEMENTS - continued |
FOR THE YEAR ENDED 30TH SEPTEMBER 2024 |
10. | FREEHOLD LAND |
The freehold of the amenity land at Ashlawn Gardens is owned by Swattons (Andover) Limited, former parent company of Ashlawn Gardens Limited. |
There is an assignment agreement in place between Swattons (Andover) Limited and Ashlawn Gardens Limited where the benefit of additional premiums payable by the leaseholders in accordance with the terms of their lease are now receivable by Ashlawn Gardens Limited. During the year additional premiums of £31,919 (2023: £31,786) were received by Ashlawn Gardens Limited. |
The agreement also states that in the event of the earlier of (a) the sale of the amenity land at Ashlawn Gardens, or (b) the death of the last surviving member of the current Board of Directors when the freehold has to be sold, 50% of the consideration received is payable by Swattons (Andover) Limited to Ashlawn Gardens Limited. |