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REGISTERED NUMBER: 13424601 (England and Wales)
















Financial Statements for the Year Ended 31 December 2023

for

Ambassador Aspen Group Limited

Ambassador Aspen Group Limited (Registered number: 13424601)






Contents of the Financial Statements
for the Year Ended 31 December 2023




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 3


Ambassador Aspen Group Limited

Company Information
for the Year Ended 31 December 2023







DIRECTORS: D Gaffney
K J G Hilllen
J R Gray





REGISTERED OFFICE: C/O Brodies LLP
90 Bartholomew Close
London
EC1A 7BN





REGISTERED NUMBER: 13424601 (England and Wales)





AUDITORS: McLay McAlister & McGibbon LLP
Chartered Accountants and Statutory Auditors
145 St Vincent Street
Glasgow
G2 5JF

Ambassador Aspen Group Limited (Registered number: 13424601)

Balance Sheet
31 December 2023

31.12.23 31.12.22
Notes £    £   
FIXED ASSETS
Investments 4 4,202,183 4,202,183

CURRENT ASSETS
Debtors 5 56,142,312 46,420,759
Cash at bank 28,589 131,856
56,170,901 46,552,615
CREDITORS
Amounts falling due within one year 6 (28,001 ) (112,233 )
NET CURRENT ASSETS 56,142,900 46,440,382
TOTAL ASSETS LESS CURRENT
LIABILITIES

60,345,083

50,642,565

CREDITORS
Amounts falling due after more than one
year

7

(61,648,978

)

(51,404,844

)
NET LIABILITIES (1,303,895 ) (762,279 )

CAPITAL AND RESERVES
Called up share capital 1,000 1,000
Retained earnings (1,304,895 ) (763,279 )
(1,303,895 ) (762,279 )

The financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

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 12 March 2025 and were signed on its behalf by:





D Gaffney - Director


Ambassador Aspen Group Limited (Registered number: 13424601)

Notes to the Financial Statements
for the Year Ended 31 December 2023

1. STATUTORY INFORMATION

Ambassador Aspen Group Limited is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.

2. ACCOUNTING POLICIES

Basis of preparing the financial statements
These financial statements have been prepared in accordance with Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" including the provisions of Section 1A "Small Entities" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.

Going concern
The directors prepare projections for the life of the development and therefore consider a period of at least 12 months from the date of approval of these financial statements. Projections are updated regularly to take into consideration any changes. The main contractor for the development is a related party who ensures that contractors comply with the current government guidance.

The company has an agreed funding arrangement in place for the life of the project. This is not due for repayment until 2026.

Based on the above, the directors consider it appropriate to prepare the financial statements on a going concern basis.

Investments in subsidiaries
Investments in subsidiary undertakings are recognised at cost.

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.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was NIL (2022 - NIL).

Ambassador Aspen Group Limited (Registered number: 13424601)

Notes to the Financial Statements - continued
for the Year Ended 31 December 2023

4. FIXED ASSET INVESTMENTS
Shares in
group
undertakings
£   
COST
At 1 January 2023
and 31 December 2023 4,202,183
NET BOOK VALUE
At 31 December 2023 4,202,183
At 31 December 2022 4,202,183

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.12.23 31.12.22
£    £   
Trade debtors - 11,400
Amounts owed by group undertakings 56,141,312 46,404,676
Other debtors 1,000 4,683
56,142,312 46,420,759

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.12.23 31.12.22
£    £   
Trade creditors 14,401 68,081
Taxation and social security 1,600 38,152
Other creditors 12,000 6,000
28,001 112,233

7. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
31.12.23 31.12.22
£    £   
Other creditors 61,648,978 51,404,844

8. LOANS

An analysis of the maturity of loans is given below:

31.12.23 31.12.22
£    £   
Amounts falling due between two and five years:
Other loans - 2-5 years 61,648,978 51,404,844

Interest is charged on the loan balance on a day to day basis at a fixed rate of 15%.

Ambassador Aspen Group Limited (Registered number: 13424601)

Notes to the Financial Statements - continued
for the Year Ended 31 December 2023

9. DISCLOSURE UNDER SECTION 444(5B) OF THE COMPANIES ACT 2006

The Report of the Auditors was unqualified.

Paul Martin (Senior Statutory Auditor)
for and on behalf of McLay McAlister & McGibbon LLP

10. FRC ETHICAL STANDARD - PROVISIONS AVAILABLE FOR SMALL ENTITIES

In common with many other businesses of our size and nature we use our auditors to prepare and submit returns to the tax authorities and assist with the preparation of the financial statements.

11. ULTIMATE CONTROLLING PARTY

The immediate parent company is RS Holdco 4 SARL, which is incorporated in Luxembourg.

The ultimate parent undertaking is RS Fund IV LP, a fund incorporated in Jersey. There is no ultimate controlling party as no individual holds more than 25% of the fund.

A copy of the consolidated financial statements can be obtained from the registered office:

11-15 Seaton Place
St Helier
Jersey
JE4 0QH