| REGISTERED NUMBER: |
| Unaudited Financial Statements |
| for the Period 10th November 2023 to 30th November 2024 |
| for |
| Ashprop Ltd |
| REGISTERED NUMBER: |
| Unaudited Financial Statements |
| for the Period 10th November 2023 to 30th November 2024 |
| for |
| Ashprop Ltd |
| Ashprop Ltd (Registered number: 15276002) |
| Contents of the Financial Statements |
| for the Period 10th November 2023 to 30th November 2024 |
| Page |
| Company Information | 1 |
| Balance Sheet | 2 |
| Notes to the Financial Statements | 3 |
| Ashprop Ltd |
| Company Information |
| for the Period 10th November 2023 to 30th November 2024 |
| DIRECTORS: |
| REGISTERED OFFICE: |
| REGISTERED NUMBER: |
| ACCOUNTANTS: |
| 34 - 35 Clarges Street |
| Mayfair |
| London |
| W1J 7EJ |
| Ashprop Ltd (Registered number: 15276002) |
| Balance Sheet |
| 30th November 2024 |
| Notes | £ | £ |
| FIXED ASSETS |
| Investments | 4 |
| Investment property | 5 |
| CURRENT ASSETS |
| Debtors | 6 |
| Cash at bank |
| CREDITORS |
| Amounts falling due within one year | 7 |
| NET CURRENT LIABILITIES | ( |
) |
| TOTAL ASSETS LESS CURRENT LIABILITIES |
| ACCRUALS AND DEFERRED INCOME |
| NET ASSETS |
| CAPITAL AND RESERVES |
| Called up share capital |
| Other reserves | 8 |
| Retained earnings | 8 |
| 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 |
| Ashprop Ltd (Registered number: 15276002) |
| Notes to the Financial Statements |
| for the Period 10th November 2023 to 30th November 2024 |
| 1. | STATUTORY INFORMATION |
| Ashprop Ltd is a |
| The presentation currency of the financial statements is the Pound Sterling (£). |
| 2. | ACCOUNTING POLICIES |
| Basis of preparing the financial statements |
| Preparation of consolidated financial statements |
| The financial statements contain information about Ashprop Ltd as an individual company and do not contain consolidated financial information as the parent of a group. The company is exempt under Section 399(2A) of the Companies Act 2006 from the requirements to prepare consolidated financial statements. |
| Turnover |
| Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. |
| Investments in subsidiaries |
| investments in subsidiary undertakings are recognised at cost less impairment. |
| Investment property |
| Investment property is initially recognised at its purchase price. It is subsequently measured at fair value at each reporting date, with changes in fair value recognised in profit or loss. Fair value is derived from the current market rents and investment property yields for comparable properties. |
| Financial instruments |
| The Company only enters into basic financial instrument transactions that result in the recognition of financial assets and liabilities like trade and other debtors and creditor and loans from related parties. |
| 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 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 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. |
| 3. | EMPLOYEES AND DIRECTORS |
| The average number of employees during the period was |
| Ashprop Ltd (Registered number: 15276002) |
| Notes to the Financial Statements - continued |
| for the Period 10th November 2023 to 30th November 2024 |
| 4. | FIXED ASSET INVESTMENTS |
| Shares in |
| group |
| undertakings |
| £ |
| COST OR VALUATION |
| Additions |
| Revaluations | ( |
) |
| At 30th November 2024 |
| NET BOOK VALUE |
| At 30th November 2024 |
| Cost or valuation at 30th November 2024 is represented by: |
| Shares in |
| group |
| undertakings |
| £ |
| Valuation in 2024 | (1,542,749 | ) |
| Cost | 1,542,749 |
| 5. | INVESTMENT PROPERTY |
| Total |
| £ |
| FAIR VALUE |
| At 10th November 2023 |
| and 30th November 2024 |
| NET BOOK VALUE |
| At 30th November 2024 |
| At 9th November 2023 |
| Fair value at 30th November 2024 is represented by: |
| £ |
| Valuation in 2024 | 2,145,000 |
| 6. | DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
| £ |
| Other debtors |
| 7. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
| £ |
| Taxation and social security |
| Other creditors |
| Ashprop Ltd (Registered number: 15276002) |
| Notes to the Financial Statements - continued |
| for the Period 10th November 2023 to 30th November 2024 |
| 8. | RESERVES |
| Retained | Other |
| earnings | reserves | Totals |
| £ | £ | £ |
| Profit for the period |
| Share for share exchange | - | 1,542,649 | 1,542,649 |
| Write off intercompany balance | - | 1,542,649 | 1,542,649 |
| Write down investment | - | (1,542,649 | ) | (1,542,649 | ) |
| At 30th November 2024 | 1,563,531 |
| On 10 November 2023, as part of a group reconstruction, the Company was introduced as the new parent undertaking of AUK Holdings Ltd (AUK) via a share-for-share exchange. The shareholders of AUK exchanged their shares for shares in the Company, such that the ultimate ownership remained unchanged. This transaction has been accounted for in accordance with the principles of merger accounting. |
| As a result of the share-for-share exchange, the Company initially recognised an investment in AUK with a corresponding merger reserve in equity. |
| Subsequently, the trade and assets of AUK, were transferred to the Company at their carrying values, creating an intercompany balance. This intercompany balance has been eliminated through a write-off, as no repayment is expected. In addition, the investment in AUK has been written down to nil to reflect the capital nature of the reorganisation. |
| These adjustments have been recognised directly in equity, within the merger reserve, and have not impacted the profit or loss for the year. |
| 9. | RELATED PARTY DISCLOSURES |
| At the balance sheet date the Company owed £405,240 to N S J F Asheshov, a director of the company. |
| At the balance sheet date the Company owed £200,000 to N P M F Asheshov, a director of the company. |