| REGISTERED NUMBER: |
| UNAUDITED FINANCIAL STATEMENTS |
| FOR THE YEAR ENDED 31 MAY 2024 |
| FOR |
| ASHFIELD PROPERTY HOLDINGS LIMITED |
| REGISTERED NUMBER: |
| UNAUDITED FINANCIAL STATEMENTS |
| FOR THE YEAR ENDED 31 MAY 2024 |
| FOR |
| ASHFIELD PROPERTY HOLDINGS LIMITED |
| ASHFIELD PROPERTY HOLDINGS LIMITED (REGISTERED NUMBER: 10766428) |
| CONTENTS OF THE FINANCIAL STATEMENTS |
| for the year ended 31 May 2024 |
| Page |
| Company Information | 1 |
| Chartered Accountants' Report | 2 |
| Abridged Balance Sheet | 3 |
| Notes to the Financial Statements | 4 |
| ASHFIELD PROPERTY HOLDINGS LIMITED |
| COMPANY INFORMATION |
| for the year ended 31 May 2024 |
| DIRECTORS: |
| REGISTERED OFFICE: |
| REGISTERED NUMBER: |
| ACCOUNTANTS: |
| Chartered Accountants |
| 19-20 Bourne Court |
| Southend Road |
| Woodford Green |
| Essex |
| IG8 8HD |
| CHARTERED ACCOUNTANTS' REPORT TO THE BOARD OF DIRECTORS |
| ON THE UNAUDITED FINANCIAL STATEMENTS OF |
| ASHFIELD PROPERTY HOLDINGS LIMITED |
| The following reproduces the text of the report prepared for the directors in respect of the company's annual unaudited financial statements. In accordance with the Companies Act 2006, the company is only required to file a Balance Sheet. Readers are cautioned that the Abridged Income Statement and certain other primary statements and the Report of the Directors are not required to be filed with the Registrar of Companies. |
| In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the financial statements of Ashfield Property Holdings Limited for the year ended 31 May 2024 which comprise the Abridged Income Statement, Abridged Balance Sheet, Statement of Changes in Equity and the related notes from the company's accounting records and from information and explanations you have given us. |
| As a practising member firm of the Institute of Chartered Accountants in England and Wales (ICAEW), we are subject to its ethical and other professional requirements which are detailed within the ICAEW's regulations and guidance at http://www.icaew.com/en/membership/regulations-standards-and-guidance. |
| This report is made solely to the Board of Directors of Ashfield Property Holdings Limited, as a body, in accordance with our terms of engagement. Our work has been undertaken solely to prepare for your approval the financial statements of Ashfield Property Holdings Limited and state those matters that we have agreed to state to the Board of Directors of Ashfield Property Holdings Limited, as a body, in this report in accordance with ICAEW Technical Release 07/16AAF. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than Ashfield Property Holdings Limited and its Board of Directors, as a body, for our work or for this report. |
| It is your duty to ensure that Ashfield Property Holdings Limited has kept adequate accounting records and to prepare statutory financial statements that give a true and fair view of the assets, liabilities, financial position and profit of Ashfield Property Holdings Limited. You consider that Ashfield Property Holdings Limited is exempt from the statutory audit requirement for the year. |
| We have not been instructed to carry out an audit or a review of the financial statements of Ashfield Property Holdings Limited. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory financial statements. |
| Chartered Accountants |
| 19-20 Bourne Court |
| Southend Road |
| Woodford Green |
| Essex |
| IG8 8HD |
| ASHFIELD PROPERTY HOLDINGS LIMITED (REGISTERED NUMBER: 10766428) |
| ABRIDGED BALANCE SHEET |
| 31 May 2024 |
| 2024 | 2023 |
| Notes | £ | £ | £ |
| FIXED ASSETS |
| Investment property | 4 |
| CURRENT ASSETS |
| Debtors | 5 |
| Cash at bank |
| CREDITORS |
| Amounts falling due within one year |
| NET CURRENT ASSETS/(LIABILITIES) | ( |
) |
| TOTAL ASSETS LESS CURRENT LIABILITIES |
| 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. |
| The financial statements were approved by the Board of Directors and authorised for issue on |
| ASHFIELD PROPERTY HOLDINGS LIMITED (REGISTERED NUMBER: 10766428) |
| NOTES TO THE FINANCIAL STATEMENTS |
| for the year ended 31 May 2024 |
| 1. | STATUTORY INFORMATION |
| Ashfield Property Holdings Limited is a |
| The presentation currency of the financial statements is the Pound Sterling (£). |
| 2. | ACCOUNTING POLICIES |
| Basis of preparing the financial statements |
| The accounts have been prepared on the going concern basis as the directors are of the opinion that the company will meet its liabilities as and when due, due to the continued support of the directors. |
| Investment property |
| Investment properties are properties held to earn rentals and for capital appreciation. Investment properties are initially measured at cost, including transaction costs. Subsequently investment properties are measured at fair value. Gains and losses arising from changes in the fair value of investment properties are included in profit or loss in the period in which they arise. |
| 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. |
| Short term debtors and creditors |
| Short term debtors and creditors with no stated interest rate are recorded at transaction price. Any losses arising from impairment are recognised in the profit and loss account. |
| Loans and borrowings |
| Loans and borrowings are initially recognised at the transaction price including transactions costs. Subsequently, they are measured at amortised cost using the effective interest rate method, less impairment. |
| 3. | EMPLOYEES AND DIRECTORS |
| The average number of employees during the year was NIL (2023 - NIL). |
| ASHFIELD PROPERTY HOLDINGS LIMITED (REGISTERED NUMBER: 10766428) |
| NOTES TO THE FINANCIAL STATEMENTS - continued |
| for the year ended 31 May 2024 |
| 4. | INVESTMENT PROPERTY |
| Total |
| £ |
| FAIR VALUE |
| At 1 June 2023 |
| Additions |
| Disposals | ( |
) |
| At 31 May 2024 |
| NET BOOK VALUE |
| At 31 May 2024 |
| At 31 May 2023 |
| Investment property includes properties which are under construction at the previous balance sheet date. In the opinion of the directors, investment property is stated at fair value. |
| 5. | DEBTORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR |
| 2024 | 2023 |
| £ | £ |
| Other debtors |
| 6. | RELATED PARTY DISCLOSURES |
| At the balance sheet date, the company was owed £16,044 (2023: owed £505,216) by/(to) the directors. |
| At the balance sheet date, the company was owed £9,060 (2023: owed £48,940) by/(to) Just Planning Ltd and owed £nil (2023: £101,000) to Sparkhill Limited, companies in which Mr P Gaine, a director, is a majority shareholder. The company also was owed £35,880 (2023: owed £246,717) by(to) Lansview Group Holdings Ltd, a company in which Mr B J Rowe, a director, is a majority shareholder. |
| Also at the balance sheet date, the company owed £44,500 (2023: £44,500) to APH Southfield Limited, a company in which Mr P Gaine and Mr B J Rowe have joint-control via holding companies. |