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Registered number: 10351149
Ascroft Court Ltd
Unaudited Financial Statements
For The Year Ended 31 August 2024
Optimise Accountants Ltd
Office 15 Bramley House, 2a Bramley Road
Long Eaton
Nottinghamshire
NG10 3SX
Contents
Page
Balance Sheet 1—2
Notes to the Financial Statements 3—4
Page 1
Balance Sheet
Registered number: 10351149
2024 2023
Notes £ £ £ £
FIXED ASSETS
Tangible Assets 4 1,488,497 1,489,520
1,488,497 1,489,520
CURRENT ASSETS
Debtors 5 34,626 9,367
Cash at bank and in hand 90,445 110,594
125,071 119,961
Creditors: Amounts Falling Due Within One Year 6 (91,130 ) (70,022 )
NET CURRENT ASSETS (LIABILITIES) 33,941 49,939
TOTAL ASSETS LESS CURRENT LIABILITIES 1,522,438 1,539,459
Creditors: Amounts Falling Due After More Than One Year 7 (802,076 ) (819,706 )
PROVISIONS FOR LIABILITIES
Deferred Taxation (173,356 ) (173,356 )
NET ASSETS 547,006 546,397
CAPITAL AND RESERVES
Called up share capital 8 2 2
Fair value reserve 9 758,420 758,420
Profit and Loss Account (211,416 ) (212,025 )
SHAREHOLDERS' FUNDS 547,006 546,397
Page 1
Page 2
For the year ending 31 August 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
These accounts have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.
The company has taken advantage of section 444(1) of the Companies Act 2006 and opted not to deliver to the registrar a copy of the company's Profit and Loss Account.
On behalf of the board
Mr Colin McNulty
Director
28/05/2025
The notes on pages 3 to 4 form part of these financial statements.
Page 2
Page 3
Notes to the Financial Statements
1. General Information
Ascroft Court Ltd is a private company, limited by shares, incorporated in England & Wales, registered number 10351149 . The registered office is Office 15 Bramley House 2a, Bramley Road, Long Eaton, Nottinghamshire, NG10 3SX.
2. Accounting Policies
2.1. Basis of Preparation of Financial Statements
The financial statements have been prepared under the historical cost convention and in accordance with Financial Reporting Standard 102 section 1A Small Entities "The Financial Reporting Standard applicable in the UK and Republic of Ireland" and the Companies Act 2006.
2.2. Going Concern Disclosure
The directors have not identified any material uncertainties related to events or conditions that may cast significant doubt about the company's ability to continue as a going concern.
2.3. Tangible Fixed Assets and Depreciation
Tangible fixed assets are measured at cost less accumulated depreciation and any accumulated impairment losses. Depreciation is provided at rates calculated to write off the cost of the fixed assets, less their estimated residual value, over their expected useful lives on the following bases:
Fixtures & Fittings 20% reducing balance
2.4. Investment Properties
Investment properties are measured at fair value determined annually and adjusted if necessary for any difference in the nature, location or condition of the specific asset. The fair value of property was obtained from an online property resource company and has not been based on a valuation by an independent valuer with a professional qualification.
3. Average Number of Employees
Average number of employees, including directors, during the year was:
2024 2023
Office and administration 2 2
2 2
4. Tangible Assets
Investment Properties Fixtures & Fittings Total
£ £ £
Cost
As at 1 September 2023 1,484,400 22,753 1,507,153
As at 31 August 2024 1,484,400 22,753 1,507,153
Depreciation
As at 1 September 2023 - 17,633 17,633
Provided during the period - 1,023 1,023
As at 31 August 2024 - 18,656 18,656
Net Book Value
As at 31 August 2024 1,484,400 4,097 1,488,497
As at 1 September 2023 1,484,400 5,120 1,489,520
Page 3
Page 4
5. Debtors
2024 2023
£ £
Due within one year
Trade debtors 15,754 9,181
VAT - 186
Directors' loan accounts 18,872 -
34,626 9,367
6. Creditors: Amounts Falling Due Within One Year
2024 2023
£ £
Trade creditors - 1
VAT 1,178 -
Other creditors 86,906 66,493
Directors' loan accounts 3,046 3,528
91,130 70,022
7. Creditors: Amounts Falling Due After More Than One Year
2024 2023
£ £
Bank loans 802,076 819,706
8. Share Capital
2024 2023
Allotted, called up and fully paid £ £
100 Ordinary Shares of £ 0.020 each 2 2
9. Reserves
Fair Value Reserve
£
As at 1 September 2023 758,420
As at 31 August 2024 758,420
10. Ultimate Controlling Party
There is no ultimate controlling party due to each shareholder owning equal proportions of the total issued share capital.
Page 4