Company Registration No. 09169784 (England and Wales)
Aspinall Holdings Ltd
Unaudited accounts
for the year ended 31 May 2024
Aspinall Holdings Ltd
Unaudited accounts
Contents
Aspinall Holdings Ltd
Company Information
for the year ended 31 May 2024
Directors
H Aspinall
Michael Aspinall
Company Number
09169784 (England and Wales)
Registered Office
Tower Court
Armley Road
Leeds
LS12 2LY
Accountants
RAE Business Services (Yorkshire) Limited
First Floor
85 Great Portland Street
London
W1W 7LT
Aspinall Holdings Ltd
Accountants' report
Accountants' report to the board of directors of Aspinall Holdings Ltd on the preparation of the unaudited statutory accounts for the year ended 31 May 2024
In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the accounts of
Aspinall Holdings Ltd for the year ended
31 May 2024 as set out on pages
5 -
8 from the company's accounting records and from information and explanations you have given us.
This report is made solely to the Board of Directors of Aspinall Holdings Ltd, as a body, in accordance with the terms of our engagement. Our work has been undertaken solely to prepare for your approval the accounts of Aspinall Holdings Ltd and state those matters that we have agreed to state to them, as a body, in this report. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than Aspinall Holdings Ltd and its Board of Directors as a body for our work or for this report.
It is your duty to ensure that Aspinall Holdings Ltd has kept adequate accounting records and to prepare statutory accounts that give a true and fair view of the assets, liabilities, financial position and profit of Aspinall Holdings Ltd. You consider that Aspinall Holdings Ltd is exempt from the statutory audit requirement for the year.
We have not been instructed to carry out an audit or a review of the accounts of Aspinall Holdings Ltd. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory accounts.
RAE Business Services (Yorkshire) Limited
First Floor
85 Great Portland Street
London
W1W 7LT
20 February 2025
Aspinall Holdings Ltd
Statement of financial position
as at 31 May 2024
Tangible assets
7,849
17,706
Investment property
3,962,031
3,545,000
Cash at bank and in hand
24,054
34,522
Creditors: amounts falling due within one year
(50,184)
(875)
Net current assets
98,804
154,731
Total assets less current liabilities
4,085,184
3,752,437
Creditors: amounts falling due after more than one year
(2,850,295)
(2,784,623)
Provisions for liabilities
Deferred tax
(284,688)
(235,040)
Net assets
950,201
732,774
Called up share capital
2
2
Revaluation reserve
854,062
705,121
Profit and loss account
96,137
27,651
Shareholders' funds
950,201
732,774
For the year ending 31 May 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies. The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
These accounts have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with the provisions of FRS 102 Section 1A - Small Entities. The profit and loss account has not been delivered to the Registrar of Companies.
The financial statements were approved by the Board of Directors and authorised for issue on 27 February 2025 and were signed on its behalf by
Michael Aspinall
Director
Company Registration No. 09169784
Aspinall Holdings Ltd
Notes to the Accounts
for the year ended 31 May 2024
Aspinall Holdings Ltd is a private company, limited by shares, registered in England and Wales, registration number 09169784. The registered office is Tower Court, Armley Road, Leeds, LS12 2LY.
2
Compliance with accounting standards
The accounts have been prepared in accordance with the provisions of FRS 102 Section 1A Small Entities. There were no material departures from that standard.
The principal accounting policies adopted in the preparation of the financial statements are set out below and have remained unchanged from the previous year, and also have been consistently applied within the same accounts.
The accounts have been prepared under the historical cost convention as modified by the revaluation of certain fixed assets.
The accounts are presented in £ sterling.
Tangible fixed assets and depreciation
Tangible assets are included at cost less depreciation and impairment. Depreciation has been provided at the following rates in order to write off the assets over their estimated useful lives:
Investment property is included at market fair value. Gains are recognised in the income statement. Deferred taxation is provided on these gains at the rate expected to apply when the property is sold.
Aspinall Holdings Ltd
Notes to the Accounts
for the year ended 31 May 2024
4
Tangible fixed assets
Fixtures & fittings
Charge for the year
11,653
Fair value at 1 June 2023
3,545,000
Net gain from fair value adjustments
198,589
Investment property is included at market fair value. Gains are recognised in the income statement. Deferred taxation is provided on these gains at the rate expected to apply when the property is sold.
6
Investments
Other investments
Valuation at 1 June 2023
35,000
Valuation at 31 May 2024
16,500
Amounts falling due within one year
Other debtors
124,934
121,084
8
Creditors: amounts falling due within one year
2024
2023
Taxes and social security
26,131
-
Aspinall Holdings Ltd
Notes to the Accounts
for the year ended 31 May 2024
9
Creditors: amounts falling due after more than one year
2024
2023
Bank loans
2,324,928
2,301,758
Other creditors
525,367
482,865
In May 2020, the company received a Bounce Back Loan of £50,000, which is a 100% UK Government backed loan.
Under the terms of the loan, the fees and interest incurred in the first 12 months are settled on behalf of the company by the UK Government. After the first 12 months, an interest rate of 2.5% is applicable.
The initial length of the loan is for six years, with an option to extend to ten years under the Bounce Back Loan Scheme.
Also included in long term creditors are other bank loans secured on investment properties. Personal guarantees have been provided.
10
Transactions with related parties
In the period Aspinall Holdings Ltd received loans from HBA Investments Limited of £189,348 (2023 - £98,428), NPP Group Limited of £193,005 (2023 - £241,423) a connected company, Northern Property Partners Limited of £93,013 (2023 - £93,013) a connected company and Aspin-Hall Investments Limited of £50,000 (2023 - £50,000) a connected company.
In the period Aspinall Holdings Ltd made loans to Armley Park Development Limited of £5,000 (2023 - £5,000), Aspinall Commercial Limited of £43,339 (2023 - £43,255), NPP Holdings Limited of £27,660 (2023 - 26,160) and NPP Homes of £5,000 (2023 - £5,000).
All loans are interest free and are repayable on demand.
Aspinall Group Limited, Tower Court, Armley Road, Leeds, LS12 2LY
12
Average number of employees
During the year the average number of employees was 0 (2023: 0).