REGISTERED NUMBER: |
Unaudited Financial Statements |
for the Period 6 June 2023 to 30 June 2024 |
for |
Ascend Property Developments Ltd |
REGISTERED NUMBER: |
Unaudited Financial Statements |
for the Period 6 June 2023 to 30 June 2024 |
for |
Ascend Property Developments Ltd |
Ascend Property Developments Ltd (Registered number: 14918712) |
Contents of the Financial Statements |
for the Period 6 June 2023 to 30 June 2024 |
Page |
Company Information | 1 |
Balance Sheet | 2 |
Notes to the Financial Statements | 4 |
Ascend Property Developments Ltd |
Company Information |
for the Period 6 June 2023 to 30 June 2024 |
DIRECTORS: |
SECRETARY: |
REGISTERED OFFICE: |
REGISTERED NUMBER: |
ACCOUNTANTS: |
Chartered Certified Accountants |
1 Carlton Parade |
Preston Road |
Wembley |
Middlesex |
HA9 8NE |
Ascend Property Developments Ltd (Registered number: 14918712) |
Balance Sheet |
30 June 2024 |
Notes | £ | £ |
FIXED ASSETS |
Tangible assets | 4 |
CURRENT ASSETS |
Cash at bank |
CREDITORS |
Amounts falling due within one year | 5 |
NET CURRENT ASSETS |
TOTAL ASSETS LESS CURRENT LIABILITIES |
CREDITORS |
Amounts falling due after more than one year |
6 |
NET LIABILITIES | ( |
) |
CAPITAL AND RESERVES |
Called up share capital |
Retained earnings | ( |
) |
( |
) |
The directors acknowledge their 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. |
Ascend Property Developments Ltd (Registered number: 14918712) |
Balance Sheet - continued |
30 June 2024 |
In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered. |
The financial statements were approved by the Board of Directors and authorised for issue on |
Ascend Property Developments Ltd (Registered number: 14918712) |
Notes to the Financial Statements |
for the Period 6 June 2023 to 30 June 2024 |
1. | STATUTORY INFORMATION |
Ascend Property Developments Ltd is a |
2. | ACCOUNTING POLICIES |
Basis of preparing the financial statements |
Tangible fixed assets |
Land and buildings | - |
Taxation |
Taxation for the period 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 period 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. |
3. | EMPLOYEES AND DIRECTORS |
The average number of employees during the period was |
Ascend Property Developments Ltd (Registered number: 14918712) |
Notes to the Financial Statements - continued |
for the Period 6 June 2023 to 30 June 2024 |
4. | TANGIBLE FIXED ASSETS |
Land and |
buildings |
£ |
COST |
Additions |
At 30 June 2024 |
DEPRECIATION |
Charge for period |
At 30 June 2024 |
NET BOOK VALUE |
At 30 June 2024 |
5. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
£ |
Other creditors |
6. | CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR |
£ |
Other creditors |
Amounts falling due in more than five years: |
Repayable otherwise than by instalments |
Other loans more 5yrs non-inst |
7. | GOING CONCERN |
The major part of the company's working capital requirement is provided by a loan from various sources which is repayable on demand presumably after five years. |
The loan was used to purchase a long leasehold property and letting it. This does not however take into account future fluctuation in the property market. The directors believe that the net realisable value of the property will be in excess of the borrowings. |
The sources have also indicated that they will not demand repayment; however no formal agreement is in place. |
Support has also been provided by a loan from a director who has indicated that this support will continue |
for the foreseeable future. |
The directors, having considered the above and made due enquiries, continue to adopt the going concern |
basis in preparing the financial statements which assumes that the company will continue in operation for |
the foreseeable future. |