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REGISTERED NUMBER: 14967595 (England and Wales)










UNAUDITED FINANCIAL STATEMENTS

FOR THE PERIOD 28 JUNE 2023 TO 30 JUNE 2024

FOR

ALI'S SUCCESSION ASSETS LIMITED

ALI'S SUCCESSION ASSETS LIMITED (REGISTERED NUMBER: 14967595)






CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE PERIOD 28 JUNE 2023 TO 30 JUNE 2024




Page

Company Information 1

Statement of Financial Position 2

Notes to the Financial Statements 3


ALI'S SUCCESSION ASSETS LIMITED

COMPANY INFORMATION
FOR THE PERIOD 28 JUNE 2023 TO 30 JUNE 2024







DIRECTOR: Mr M A Alidina





REGISTERED OFFICE: 1 Kings Avenue
London
N21 3NA





REGISTERED NUMBER: 14967595 (England and Wales)





ACCOUNTANTS: AGK Partners
Chartered Accountants
1 Kings Avenue
London
N21 3NA

ALI'S SUCCESSION ASSETS LIMITED (REGISTERED NUMBER: 14967595)

STATEMENT OF FINANCIAL POSITION
30 JUNE 2024

Notes £    £   
FIXED ASSETS
Investment property 4 430,000

CURRENT ASSETS
Debtors 5 60,946
Cash at bank and in hand 838
61,784
CREDITORS
Amounts falling due within one year 6 14,602
NET CURRENT ASSETS 47,182
TOTAL ASSETS LESS CURRENT
LIABILITIES

477,182

CREDITORS
Amounts falling due after more than one year 7 (319,020 )

PROVISIONS FOR LIABILITIES 9 (37,022 )
NET ASSETS 121,140

CAPITAL AND RESERVES
Called up share capital 100
Revaluation reserve 10 111,064
Retained earnings 9,976
SHAREHOLDERS' FUNDS 121,140

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the period ended 30 June 2024.

The members have not required the company to obtain an audit of its financial statements for the period ended 30 June 2024 in accordance with Section 476 of the Companies Act 2006.

The director acknowledges his 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 have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered.

The financial statements were approved by the director and authorised for issue on 15 May 2025 and were signed by:




Mr M A Alidina - Director


ALI'S SUCCESSION ASSETS LIMITED (REGISTERED NUMBER: 14967595)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD 28 JUNE 2023 TO 30 JUNE 2024

1. STATUTORY INFORMATION

Ali's Succession Assets Limited is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.

The presentation currency of the financial statements is the Pound Sterling (£).


2. ACCOUNTING POLICIES

Basis of preparing the financial statements
These financial statements have been prepared in accordance with Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" including the provisions of Section 1A "Small Entities" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention as modified by the revaluation of certain assets.

Significant judgements and estimates
In the application of the company's accounting policies, the director is required to make judgements, estimates and assumptions about the carrying amount of assets and liabilities that are not readily apparent from other sources. The estimates and associated assumptions are based on historical experience and other factors that are relevant. Actual results may differ from these estimates.

The estimates and underlying assumptions are reviewed on an ongoing basis. Revisions to accounting estimates are recognised in the period in which the estimate is revised where the revision affects only that period or in the period of the revision and future periods where the revision affects both current and future periods.

There are no significant judgements or estimates involved in the preparation of the financial statements.

Turnover
Revenue represents the value of rental income chargeable in respect of the company's investment property.
Revenue is recognised evenly over the period of the rental agreement.

Investment property
Investment property, which is property held to earn rentals, is initially recognised at cost, which includes the purchase cost and any directly attributable expenditure.

Subsequently it is measured at fair value at the reporting date. Any aggregate surplus or deficit arising from changes in fair value is recognised in profit or loss.

Deferred tax is provided on these gains at the rate expected to apply if the property is sold at the balance sheet date.

Taxation
Taxation for the period 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 statement of financial position date.

Deferred tax
Deferred tax is recognised in respect of all material timing differences that have originated but not reversed at the statement of financial position 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 period 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.

ALI'S SUCCESSION ASSETS LIMITED (REGISTERED NUMBER: 14967595)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE PERIOD 28 JUNE 2023 TO 30 JUNE 2024

2. ACCOUNTING POLICIES - continued

Cash and cash equivalent
Cash and cash equivalents in the statement of financial position comprise cash at banks and in hand, short term deposits with an original maturity date of one month. Cash equivalents are defined as short-term, highly liquid investments that are readily convertible to known amounts of cash and that are subject to an insignificant risk of changes in value.

Financial instruments
Basic financial instruments are recognised at amortised cost, except for investments in non-convertible preference and non-puttable ordinary shares which are measured at fair value, with changes recognised in profit or loss.

Derivative financial instruments are initially recorded at cost and thereafter at fair value with changes recognised in profit and loss.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the period was NIL.

4. INVESTMENT PROPERTY
Total
£   
FAIR VALUE
Additions 281,914
Revaluations 148,086
At 30 June 2024 430,000
NET BOOK VALUE
At 30 June 2024 430,000

Fair value at 30 June 2024 is represented by:
£   
Valuation in 2024 148,086
Cost 281,914
430,000

If investment property had not been revalued it would have been included at the following historical cost:

£   
Cost 281,914

Investment property was valued on an open market basis on 30 June 2024 by the director .

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
£   
Other debtors 60,946

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
£   
Trade creditors 10,751
Taxation and social security 2,411
Other creditors 1,440
14,602

ALI'S SUCCESSION ASSETS LIMITED (REGISTERED NUMBER: 14967595)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE PERIOD 28 JUNE 2023 TO 30 JUNE 2024

7. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR
£   
Bank loans 319,020

Amounts falling due in more than five years:

Repayable otherwise than by instalments
Bank loans more 5 yrs non-inst 319,020

8. SECURED DEBTS

The following secured debts are included within creditors:

£   
Bank Loan 319,020

Bank loan is secured by way of fixed and floating charge on the property and other assets of the company and contains a negative pledge.

9. PROVISIONS FOR LIABILITIES
£   
Deferred tax 37,022

Deferred
tax
£   
Provided during period 37,022
Balance at 30 June 2024 37,022

10. RESERVES
Revaluation
reserve
£   
Revaluation reserve 111,064

At 30 June 2024 111,064

11. RELATED PARTY DISCLOSURES

The company has taken advantage of exemption, under the terms of Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland', not to disclose related party transactions with wholly owned subsidiaries within the group.