REGISTERED NUMBER: |
UNAUDITED FINANCIAL STATEMENTS |
FOR THE YEAR ENDED 31 MARCH 2025 |
FOR |
ASHLEY HASTINGS LIMITED |
REGISTERED NUMBER: |
UNAUDITED FINANCIAL STATEMENTS |
FOR THE YEAR ENDED 31 MARCH 2025 |
FOR |
ASHLEY HASTINGS LIMITED |
ASHLEY HASTINGS LIMITED (REGISTERED NUMBER: 03917160) |
CONTENTS OF THE FINANCIAL STATEMENTS |
FOR THE YEAR ENDED 31 MARCH 2025 |
Page |
Company Information | 1 |
Balance Sheet | 2 | to | 3 |
Notes to the Financial Statements | 4 | to | 7 |
ASHLEY HASTINGS LIMITED |
COMPANY INFORMATION |
FOR THE YEAR ENDED 31 MARCH 2025 |
DIRECTORS: |
SECRETARY: |
REGISTERED OFFICE: |
REGISTERED NUMBER: |
ACCOUNTANTS: |
17 Clarendon Road |
Belfast |
BT1 3BG |
ASHLEY HASTINGS LIMITED (REGISTERED NUMBER: 03917160) |
BALANCE SHEET |
31 MARCH 2025 |
31.3.25 | 31.3.24 |
Notes | £ | £ | £ |
FIXED ASSETS |
Tangible assets | 4 |
Investment property | 5 |
CURRENT ASSETS |
Cash at bank |
CREDITORS |
Amounts falling due within one year | 6 |
NET CURRENT ASSETS |
TOTAL ASSETS LESS CURRENT LIABILITIES |
PROVISIONS FOR LIABILITIES |
NET ASSETS |
CAPITAL AND RESERVES |
Called up share capital |
Retained earnings |
SHAREHOLDERS' FUNDS |
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. |
ASHLEY HASTINGS LIMITED (REGISTERED NUMBER: 03917160) |
BALANCE SHEET - continued |
31 MARCH 2025 |
The financial statements were authorised for issue by the Board of Directors and authorised for issue on |
ASHLEY HASTINGS LIMITED (REGISTERED NUMBER: 03917160) |
NOTES TO THE FINANCIAL STATEMENTS |
FOR THE YEAR ENDED 31 MARCH 2025 |
1. | STATUTORY INFORMATION |
Ashley Hastings Limited is a |
2. | ACCOUNTING POLICIES |
Basis of preparing the financial statements |
Going concern |
The financial statements have been prepared on the going concern basis which assumes that the company will continue in operational existence for the foreseeable future. |
The validity of this assumption depends on the continued support of the company's directors. |
Based on the above, the directors believe it is appropriate to prepare accounts on the going concern basis. |
Significant judgements and estimates |
In preparing these financial statements the directors have made the following judgements: |
Establish whether there are indicators of impairment of the company's investment property. Factors taken into consideration in reaching such a decision include the economic viability and expected future financial performance of the asset and the business in general. |
Consider the recoverability of trade debtors and the need for impairment provisions. These considerations are undertaken regularly by the directors, and especially at the year end date. Factors taken into account include historical experience, current market conditions and knowledge of the sector. Amounts identified as irrecoverable will be provided against in the relevant period. |
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 |
Fixtures, fittings & equipment | - |
Computer equipment | - |
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. |
ASHLEY HASTINGS LIMITED (REGISTERED NUMBER: 03917160) |
NOTES TO THE FINANCIAL STATEMENTS - continued |
FOR THE YEAR ENDED 31 MARCH 2025 |
2. | ACCOUNTING POLICIES - continued |
Financial instruments |
All financial instruments of the company are considered to meet the definition of basic financial instruments. |
- Short term debtors and creditors |
Debtors and creditors with no stated interest rate and are receivable or payable on demand are recognised at transaction price, and subject to annual impairment reviews. Any losses arising on impairment are recognised in the profit and loss account. |
- Cash and cash equivalents |
Cash and cash equivalents comprise cash at bank and in hand. |
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 (2024 - NIL). |
ASHLEY HASTINGS LIMITED (REGISTERED NUMBER: 03917160) |
NOTES TO THE FINANCIAL STATEMENTS - continued |
FOR THE YEAR ENDED 31 MARCH 2025 |
4. | TANGIBLE FIXED ASSETS |
Fixtures, |
fittings | Computer |
& equipment | equipment | Totals |
£ | £ | £ |
COST |
At 1 April 2024 |
and 31 March 2025 |
DEPRECIATION |
At 1 April 2024 |
Charge for year |
At 31 March 2025 |
NET BOOK VALUE |
At 31 March 2025 |
At 31 March 2024 |
5. | INVESTMENT PROPERTY |
Total |
£ |
FAIR VALUE |
At 1 April 2024 |
and 31 March 2025 |
NET BOOK VALUE |
At 31 March 2025 |
At 31 March 2024 |
Fair value at 31 March 2025 is represented by: |
£ |
Valuation in 2014 | (116,275 | ) |
Cost | 855,620 |
739,345 |
If investment properties had not been revalued they would have been included at the following historical cost: |
31.3.25 | 31.3.24 |
£ | £ |
Cost | 855,620 | 855,620 |
The company's investment properties are valued annually on 31 March at fair value, determined by independent, professional valuers or the directors, based on rental yield and knowledge of the property sector. |
ASHLEY HASTINGS LIMITED (REGISTERED NUMBER: 03917160) |
NOTES TO THE FINANCIAL STATEMENTS - continued |
FOR THE YEAR ENDED 31 MARCH 2025 |
6. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
31.3.25 | 31.3.24 |
£ | £ |
Tax |
Other creditors |
Directors' current accounts | 90,364 | 90,364 |
Accrued expenses |
Included within other creditors is an amount owed to a close family member of one of the directors of £406,777 (2024: £406,777). This amount is interest free and repayable on demand. |
The directors loan is also interest free and repayable on demand. |