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Registered number: 10594740














ASHIRA HOLDINGS LTD
FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JULY 2024

 
ASHIRA HOLDINGS LTD
 

CONTENTS



Page
Statement of Financial Position
 
1 - 2
Notes to the Financial Statements
 
3 - 8


 
ASHIRA HOLDINGS LTD
REGISTERED NUMBER:10594740

STATEMENT OF FINANCIAL POSITION
AS AT 31 JULY 2024

2024
2023
Note
£
£

Fixed assets
  

Investments
 4 
167
-

Investment property
 5 
44,665,000
54,672,249

  
44,665,167
54,672,249

Current assets
  

Debtors: amounts falling due after more than one year
 6 
3,251,485
-

Debtors: amounts falling due within one year
 6 
3,876,547
3,479,756

Current asset investments
 7 
6,023,438
6,152,389

Cash at bank and in hand
  
442,016
767,381

  
13,593,486
10,399,526

Current liabilities
  

Creditors: amounts falling due within one year
 8 
(11,179,034)
(12,526,159)

Net current assets/(liabilities)
  
 
 
2,414,452
 
 
(2,126,633)

Total assets less current liabilities
  
47,079,619
52,545,616

Creditors: amounts falling due after more than one year
 9 
(20,421,776)
(20,408,912)

Net assets
  
26,657,843
32,136,704


Capital and reserves
  

Called up share capital 
 10 
18
12

Share premium account
  
46,649,530
46,649,530

Profit and loss account
  
(19,991,705)
(14,512,838)

  
26,657,843
32,136,704


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

The Company has opted not to file the statement of comprehensive income in accordance with provisions applicable to companies subject to the small companies' regime.

Page 1

 
ASHIRA HOLDINGS LTD
REGISTERED NUMBER:10594740
    
STATEMENT OF FINANCIAL POSITION (CONTINUED)
AS AT 31 JULY 2024

The financial statements were approved and authorised for issue by the board and were signed on its behalf on 24 April 2025.




D Yamin-Joseph
Director

The notes on pages 3 to 8 form part of these financial statements.
Page 2

 
ASHIRA HOLDINGS LTD
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JULY 2024

1.


General information

Ashira Holdings Limited is a private limited liability company incorporated in England and Wales with its registered and business office address at 3rd Floor, 107 Jermyn Street, London, SW1Y 6EE.
The principal activity of the Company is that of investments.

2.Accounting policies

 
2.1

Basis of preparation of financial statements

The financial statements have been prepared under the historical cost convention unless otherwise specified within these accounting policies and in accordance with FRS 102 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland' and the requirements of the Companies Act 2006. The disclosure requirements of Section 1A of FRS 102 have been applied other than where additional disclosure is required to show a true and fair view.

The following principal accounting policies have been applied:

 
2.2

Exemption from preparing consolidated financial statements

The Company, and the Group headed by it, qualify as small as set out in section 383 of the Companies Act 2006 and the parent and Group are considered eligible for the exemption to prepare consolidated accounts.

 
2.3

Going concern

The financial statements of the Company have been prepared on a going concern basis, the validity of which is dependant on the continued availability of bank loan facilities. The director is satisfied that suitable facilities will continue to be made available for at least twelve months from the date of his approval of these financial statements and that the Company will be able to meet its working capital requirements for the foreseeable future.

 
2.4

Turnover

Turnover comprises rent receivable exclusive of Value Added Tax.
Rental income is recognised in the period to which it relates. Rental income received in advance is carried forward as deferred income. 

 
2.5

Interest income

Interest income is recognised in the Statement of Comprehensive Income using the effective interest method.

 
2.6

Finance costs

Finance costs are charged to the Statement of Comprehensive Income over the term of the debt using the effective interest method so that the amount charged is at a constant rate on the carrying amount.

 
2.7

Borrowing costs

All borrowing costs are recognised in the Statement of Comprehensive Income in the year in which they are incurred.

Page 3

 
ASHIRA HOLDINGS LTD
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JULY 2024

2.Accounting policies (continued)

 
2.8

Foreign currency translation

Functional and presentation currency

The Company's functional and presentational currency is £ Sterling.

Transactions and balances

Foreign currency transactions are translated into the functional currency using the spot exchange rates at the dates of the transactions.

At each period end foreign currency monetary items are translated using the closing rate. Non-monetary items measured at historical cost are translated using the exchange rate at the date of the transaction and non-monetary items measured at fair value are measured using the exchange rate when fair value was determined.

 
2.9

Taxation

Tax is recognised in the Statement of Comprehensive Income, except that a charge attributable to an item of income and expense recognised as other comprehensive income or to an item recognised directly in equity is also recognised in other comprehensive income or directly in equity respectively.
The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the reporting date in the countries where the company operates and generates income.

 
2.10

Investment property

Investment property is carried at fair value determined annually by the director and derived from the current market rents and investment property yields for comparable real estate, adjusted if necessary for any difference in the nature, location or condition of the specific asset. No depreciation is provided. Changes in fair value are recognised in the Statement of Comprehensive Income.

 
2.11

Investments

Investments in listed company shares are remeasured to market value at each reporting date. Gains and losses on remeasurement are recognised in the Statement of Comprehensive Income.

Investments in subsidiaries are measured at cost less accumulated impairment.

 
2.12

Debtors

Short term debtors are measured at the transaction price, less any impairment. Loans receivable are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method, less any impairment.

 
2.13

Cash and cash equivalents

Cash is represented by cash in hand and deposits with financial institutions.

Page 4

 
ASHIRA HOLDINGS LTD
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JULY 2024

2.Accounting policies (continued)

 
2.14

Creditors

Short-term creditors are measured at the transaction price. Other financial liabilities, including bank loans, are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method.


3.


Employees

The average monthly number of employees, including directors, during the year was 6 (2023 - 6).


4.


Fixed asset investments





Investments in subsidiary companies

£



Cost


Additions
167



At 31 July 2024
167

Page 5

 
ASHIRA HOLDINGS LTD
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JULY 2024

5.


Investment property


Freehold investment property

£



Valuation


At 1 August 2023
54,672,249


Additions at cost
1,312,403


Deficit on revaluation
(4,174,652)


Transfers intra group
(7,145,000)



At 31 July 2024
44,665,000

The 2024 valuations were made by the director, on an open market value for existing use basis.



If the investment properties had been accounted for under the historic cost accounting rules, the properties would have been measured as follows:

2024
2023
£
£


Historic cost
48,632,432
56,200,228


6.


Debtors

2024
2023
£
£

Due after more than one year

Amounts owed by group undertakings
3,251,485
-


2024
2023
£
£

Trade debtors
46,434
31,562

Other debtors
3,637,312
3,255,755

Prepayments and accrued income
192,801
192,439

3,876,547
3,479,756


Page 6

 
ASHIRA HOLDINGS LTD
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JULY 2024

7.


Current asset investments

2024
2023
£
£

Listed investments
6,023,438
6,152,389



8.


Creditors: Amounts falling due within one year

2024
2023
£
£

Bank overdrafts
-
37

Bank loans
7,787,136
8,243,621

Other loans
-
900,000

Trade creditors
144,393
267,370

Amounts owed to group undertakings
1,958,367
1,979,800

Taxation and social security
16,597
17,405

Other creditors
438,706
65,389

Accruals and deferred income
833,835
1,052,537

11,179,034
12,526,159


Secured loans
The Company's bank facilities are secured by a first charge on the investment properties, listed investments, bank credit balances and a debenture over the assets of the Company.


9.


Creditors: Amounts falling due after more than one year

2024
2023
£
£

Bank loans
20,421,776
20,408,912


Secured loans
The Company's bank facilities are secured by a first charge on the investment properties, listed investments, bank credit balances and a debenture over the assets of the Company.

Page 7

 
ASHIRA HOLDINGS LTD
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JULY 2024

10.


Share capital

2024
2023
£
£
Allotted, called up and fully paid



18 (2023 - 12) Ordinary shares of £1 each
18
12


During the year, the Company issued a further 6 Ordinary shares of £1 each.


11.


Related party transactions

The Company has taken advantage of the exemption under FRS102 33.1A Related Party Disclosures not to disclose transactions entered into between two or more members of a group, provided that any subsidiary undertaking which is a party to the transaction is wholly owned by a member of that group.


12.


Auditors' information

The auditors' report on the financial statements for the year ended 31 July 2024 was unqualified.

The audit report was signed on 24 April 2025 by Stephen Iseman FCA (Senior Statutory Auditor) on behalf of Sopher + Co LLP.

 
Page 8