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Registered number: 10594698














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

 
ASHIRA UPLANDS LTD
 

CONTENTS



Page
Statement of Financial Position
 
1
Notes to the Financial Statements
 
2 - 6


 
ASHIRA UPLANDS LTD
REGISTERED NUMBER:10594698

STATEMENT OF FINANCIAL POSITION
AS AT 31 JULY 2024

2024
2023
Note
£
£

Fixed assets
  

Investment property
 4 
5,500,000
4,000,000

Current assets
  

Debtors: amounts falling due within one year
 5 
1,963,635
1,985,232

Cash at bank and in hand
  
1,738
1,444

  
1,965,373
1,986,676

Current liabilities
  

Creditors: amounts falling due within one year
 6 
(53,542)
(66,549)

Net current assets
  
 
 
1,911,831
 
 
1,920,127

Total assets less current liabilities
  
7,411,831
5,920,127

Creditors: amounts falling due after more than one year
 7 
(1,560,000)
(1,560,000)

Provisions for liabilities
  

Deferred tax
 8 
(400,000)
(25,000)

Net assets
  
5,451,831
4,335,127


Capital and reserves
  

Called up share capital 
 9 
66
66

Share premium account
 10 
3,899,940
3,899,940

Profit and loss account
 10 
1,551,825
435,121

  
5,451,831
4,335,127


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.

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 2 to 6 form part of these financial statements.
Page 1

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

1.


General information

Ashira Uplands Ltd is a private limited liability company incorporated in England and Wales with its registered office and business office address at 3rd Floor, 107 Jermyn Street, SW1Y 6EE.
The principal activity of the Company is property investment.
The functional and presentational currency of the Company is £ Sterling. 

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

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.

 
2.3

Turnover

Turnover comprises rents 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.

 
2.4

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.

 
2.5

Borrowing costs

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

Page 2

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

2.Accounting policies (continued)

 
2.6

Current and deferred taxation

The tax expense for the year comprises current and deferred tax. 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.
Deferred tax balances are recognised in respect of all timing differences that have originated but not reversed by the reporting date, except that:
 
The recognition of deferred tax assets is limited to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits; and
Any deferred tax balances are reversed if and when all conditions for retaining associated tax allowances have been met.

 
2.7

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.

 
2.8

Debtors

Short term debtors are measured at the transaction price, less any impairment.

 
2.9

Cash and cash equivalents

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

 
2.10

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 director was the only employee of the Company during the current and preceding period.


Page 3

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

4.


Investment property


Freehold investment property

£



Valuation


At 1 August 2023
4,000,000


Surplus on revaluation
1,500,000



At 31 July 2024
5,500,000

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



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

2024
2023
£
£


Historic cost
3,900,000
3,900,000


5.


Debtors

2024
2023
£
£

Amounts owed by group undertakings
1,958,366
-

Other debtors
-
1,979,806

Prepayments and accrued income
5,269
5,426

1,963,635
1,985,232



6.


Creditors: Amounts falling due within one year

2024
2023
£
£

Trade creditors
5,186
7,866

Taxation and social security
-
14,180

Other creditors
40,766
40,708

Accruals and deferred income
7,590
3,795

53,542
66,549


Page 4

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

7.


Creditors: Amounts falling due after more than one year

2024
2023
£
£

Bank loans
1,560,000
1,560,000


The Company's bank facilities are secured by a fixed and floating charge on the investment property and a debenture over the assets of the Company.


8.


Deferred taxation




2024


£



At beginning of year
25,000


Charged to the profit or loss
375,000



At end of year
400,000

The provision for deferred taxation is made up as follows:

2024
2023
£
£


Fair value adjustments
400,000
25,000


9.


Share capital

2024
2023
£
£
Allotted, called up and fully paid



66 (2023 - 66) Ordinary shares of £1 each
66
66



10.


Reserves

Profit and loss account

Included in profit and loss reserves at the reporting date are non-distributable fair value adjustments of £1,200,000 (2023 - £75,000).


11.


Contingent liabilities

The Company’s freehold property has been pledged as security for the bank facilities of the parent company, Ashira Holdings Limited.

Page 5

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

12.


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.


13.


Controlling party

The Company is a wholly owned subsidiary of Ashira Holdings Limited, a company registered in England and Wales, which the director regards as the ultimate parent company.


14.


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 6