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REGISTERED NUMBER: 08805484 (England and Wales)














Unaudited Financial Statements

for the Year Ended 31st March 2024

for

Azibi Asset Management Limited

Azibi Asset Management Limited (Registered number: 08805484)






Contents of the Financial Statements
for the year ended 31st March 2024




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


Azibi Asset Management Limited

Company Information
for the year ended 31st March 2024







DIRECTORS: Dr C Stevens
Mrs J C Stevens





REGISTERED OFFICE: The Cottage
Green End
Dane End
Ware
Hertfordshire
SG12 0NY





REGISTERED NUMBER: 08805484 (England and Wales)





ACCOUNTANTS: Apple Accounting Services Ltd
Chartered Management Accountants
12b Sun Street
Waltham Abbey
Essex
EN9 1EE

Azibi Asset Management Limited (Registered number: 08805484)

Balance Sheet
31st March 2024

2024 2023
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 3,273 4,364
Investment property 5 1,250,000 1,257,000
1,253,273 1,261,364

CURRENT ASSETS
Debtors 6 16,030 7,732
Cash at bank 519 3,298
16,549 11,030
CREDITORS
Amounts falling due within one year 7 120,338 264,055
NET CURRENT LIABILITIES (103,789 ) (253,025 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

1,149,484

1,008,339

CREDITORS
Amounts falling due after more than one year 8 (936,330 ) (860,423 )

PROVISIONS FOR LIABILITIES (21,005 ) (2,720 )
NET ASSETS 192,149 145,196

CAPITAL AND RESERVES
Called up share capital 2 2
Fair value reserve 10 116,419 144,424
Retained earnings 75,728 770
SHAREHOLDERS' FUNDS 192,149 145,196

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31st March 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 31st March 2024 in accordance with Section 476 of the Companies Act 2006.

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.

Azibi Asset Management Limited (Registered number: 08805484)

Balance Sheet - continued
31st March 2024


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 20th March 2025 and were signed on its behalf by:





Dr C Stevens - Director


Azibi Asset Management Limited (Registered number: 08805484)

Notes to the Financial Statements
for the year ended 31st March 2024

1. STATUTORY INFORMATION

Azibi Asset Management 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 as modified by the revaluation of certain assets.

Turnover
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.

Investment property
Investment property is shown at most recent valuation. Any aggregate surplus or deficit arising from changes in fair value is recognised in profit or loss.

Hire purchase and leasing commitments
Assets obtained under hire purchase contracts or finance leases are capitalised in the balance sheet. Those held under hire purchase contracts are depreciated over their estimated useful lives. Those held under finance leases are depreciated over their estimated useful lives or the lease term, whichever is the shorter.

The interest element of these obligations is charged to profit or loss over the relevant period. The capital element of the future payments is treated as a liability.

Pension costs and other post-retirement benefits
The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 3 (2023 - 4 ) .

Azibi Asset Management Limited (Registered number: 08805484)

Notes to the Financial Statements - continued
for the year ended 31st March 2024

4. TANGIBLE FIXED ASSETS
Plant and
machinery
etc
£   
COST
At 1st April 2023
and 31st March 2024 9,378
DEPRECIATION
At 1st April 2023 5,014
Charge for year 1,091
At 31st March 2024 6,105
NET BOOK VALUE
At 31st March 2024 3,273
At 31st March 2023 4,364

5. INVESTMENT PROPERTY
Total
£   
FAIR VALUE
At 1st April 2023 1,257,000
Revaluations (7,000 )
At 31st March 2024 1,250,000
NET BOOK VALUE
At 31st March 2024 1,250,000
At 31st March 2023 1,257,000

Fair value at 31st March 2024 is represented by:
£   
Valuation in 2017 242,000
Valuation in 2018 1,840,250
Valuation in 2019 (605,893 )
Valuation in 2020 (96,357 )
Valuation in 2021 (149,000 )
Valuation in 2022 22,000
Valuation in 2023 4,000
Valuation in 2024 (7,000 )
1,250,000

Azibi Asset Management Limited (Registered number: 08805484)

Notes to the Financial Statements - continued
for the year ended 31st March 2024

5. INVESTMENT PROPERTY - continued

If Investment properties had not been revalued they would have been included at the following historical cost:

2024 2023
£    £   
Cost 1,112,576 1,112,576

Investment properties were valued on an open market basis on 31st March 2024 by Dr Craig Stevens, Director .

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Other debtors 16,030 7,732

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Bank loans and overdrafts 10,000 35,391
Trade creditors 2,526 395
Taxation and social security 34,995 6,912
Other creditors 72,817 221,357
120,338 264,055

8. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
2024 2023
£    £   
Bank loans 935,778 851,425
Other creditors 552 8,998
936,330 860,423

9. SECURED DEBTS

The following secured debts are included within creditors:

2024 2023
£    £   
Bank loans 945,778 886,816

Azibi Asset Management Limited (Registered number: 08805484)

Notes to the Financial Statements - continued
for the year ended 31st March 2024

10. RESERVES
Fair
value
reserve
£   
At 1st April 2023 144,424
Fair value adjustments (28,005 )

At 31st March 2024 116,419

11. ULTIMATE CONTROLLING PARTY

The ultimate controlling party is Dr C Stevens and Mrs J C Stevens.