ASPIRING PROPERTY LTD

Company Registration Number:
09761809 (England and Wales)

Unaudited abridged accounts for the year ended 30 September 2024

Period of accounts

Start date: 01 October 2023

End date: 30 September 2024

ASPIRING PROPERTY LTD

Contents of the Financial Statements

for the Period Ended 30 September 2024

Balance sheet
Notes

ASPIRING PROPERTY LTD

Balance sheet

As at 30 September 2024


Notes

2024

2023


£

£
Fixed assets
Tangible assets: 3 5,948 7,931
Investments: 4 1,712,942 1,712,942
Total fixed assets: 1,718,890 1,720,873
Current assets
Debtors: 5 0 6,597
Cash at bank and in hand: 45,302 62,086
Total current assets: 45,302 68,683
Creditors: amounts falling due within one year: 6 (40,512) (59,415)
Net current assets (liabilities): 4,790 9,268
Total assets less current liabilities: 1,723,680 1,730,141
Creditors: amounts falling due after more than one year: 7 (1,459,290) (1,489,287)
Total net assets (liabilities): 264,390 240,854
Capital and reserves
Called up share capital: 30,100 30,100
Profit and loss account: 234,290 210,754
Shareholders funds: 264,390 240,854

The notes form part of these financial statements

ASPIRING PROPERTY LTD

Balance sheet statements

For the year ending 30 September 2024 the company was entitled to exemption 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.

The members have agreed to the preparation of abridged accounts for this accounting period in accordance with Section 444(2A).

These accounts have been prepared in accordance with the provisions applicable to companies subject to the small companies regime.

The directors have chosen to not file a copy of the company’s profit & loss account.

This report was approved by the board of directors on 22 January 2025
and signed on behalf of the board by:

Name: James Clarke-Sullivan
Status: Director

The notes form part of these financial statements

ASPIRING PROPERTY LTD

Notes to the Financial Statements

for the Period Ended 30 September 2024

1. Accounting policies

These financial statements have been prepared in accordance with the provisions of Section 1A (Small Entities) of Financial Reporting Standard 102

Turnover policy

Turnover represents rent receivable from investment properties, net of VAT where applicable.

Tangible fixed assets and depreciation policy

Tangible fixed assets held for the company’s own use are stated at cost less accumulated depreciation. Depreciation is provided at rates calculated to write off the cost of fixed assets, less their estimated residual value, over their expected useful lives on a reducing balance basis at rates of 25% per annum.

Other accounting policies

Statutory information. The Company is a private company limited by shares and domiciled in England and Wales. The registered office is 86-90 Paul Street, London, England, EC2A 4NE. Investment properties. Investment properties for which fair value can be measured reliably without undue cost or effort are measured at fair value at each reporting date with changes in fair value recognised in the profit and loss. The methods and significant assumptions used to ascertain the fair value and the fair value movement included in the profit and loss for the year are as follows: The director has established that the values in the accounts for Investment Properties are deemed reasonable based on his knowledge of current market conditions and of similar properties in the area. Taxation. Taxation represents the sum of tax currently payable and deferred taxation. Deferred tax is recognised in respect of all timing differences (including fair value adjustments) that have originated but not reversed by the balance sheet date except that a deferred tax asset is only recognised to the extent that it is regarded as recoverable. Deferred tax is measured using the rate of tax that is expected to apply in the periods in which the timing differences are expected to reverse.

ASPIRING PROPERTY LTD

Notes to the Financial Statements

for the Period Ended 30 September 2024

2. Employees

2024 2023
Average number of employees during the period 1 1

ASPIRING PROPERTY LTD

Notes to the Financial Statements

for the Period Ended 30 September 2024

3. Tangible Assets

Total
Cost £
At 01 October 2023 27,537
At 30 September 2024 27,537
Depreciation
At 01 October 2023 19,606
Charge for year 1,983
At 30 September 2024 21,589
Net book value
At 30 September 2024 5,948
At 30 September 2023 7,931

ASPIRING PROPERTY LTD

Notes to the Financial Statements

for the Period Ended 30 September 2024

4. Fixed investments

Cost and valuation. At 1st October 2023 and 30th September 2024. £1,712,942. The director has established that the values in the accounts for Investment Properties are deemed reasonable based on his knowledge of current market conditions and of similar properties in the area.

ASPIRING PROPERTY LTD

Notes to the Financial Statements

for the Period Ended 30 September 2024

5. Debtors

2024 2023
££
Debtors due after more than one year: 0 0

ASPIRING PROPERTY LTD

Notes to the Financial Statements

for the Period Ended 30 September 2024

6. Creditors: amounts falling due within one year note

Trade creditors and accruals. £15,056 (2023-£16,235). Other creditors £19,470 (2023-£35,757). Taxation payable £5,986 (2023-£7,423). Total £40,512 (2023-£59,415).

ASPIRING PROPERTY LTD

Notes to the Financial Statements

for the Period Ended 30 September 2024

7. Creditors: amounts falling due after more than one year note

Other creditors £970,000 (2023-£1,000,000). Bank loans £489,290 (2023-£489,287). Total £1,459,290 (2023-£1,489,287). Bank loans are secured on a fixed charge over specified property of the company and are due for repayment in 2040. The loans are interest only at the rate of 4.1% pa.