Registered number
07632921
Aspen Properties (South West) Limited
Unaudited Filleted Accounts
30 November 2024
Aspen Properties (South West) Limited
Registered number: 07632921
Balance Sheet
as at 30 November 2024
Notes 2024 2023
£ £
Fixed assets
Tangible assets 3 - 316,998
Investments 4 500,000 -
500,000 316,998
Current assets
Debtors 5 15,470 15,470
Cash at bank and in hand 91,121 57,579
106,591 73,049
Creditors: amounts falling due within one year 6 (117,963) (122,133)
Net current liabilities (11,372) (49,084)
Total assets less current liabilities 488,628 267,914
Creditors: amounts falling due after more than one year 7 - (18,984)
Provisions for liabilities (35,484) -
Net assets 453,144 248,930
Capital and reserves
Called up share capital 1 1
Profit and loss account 453,143 248,929
Shareholders' funds 453,144 248,930
The directors are satisfied that the company is entitled to exemption from the requirement to obtain an audit under section 477 of the Companies Act 2006.
The members have not required the company to obtain an audit in accordance with section 476 of the Act.
The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts.
The accounts have been prepared and delivered in accordance with the special provisions applicable to companies subject to the small companies regime. The profit and loss account has not been delivered to the Registrar of Companies.
Mr D Millin
Director
Approved by the board on 28 August 2025
Aspen Properties (South West) Limited
Notes to the Accounts
for the period from 1 June 2023 to 30 November 2024
1 Accounting policies
Basis of preparation
The accounts have been prepared under the historical cost convention and in accordance with FRS 102, The Financial Reporting Standard applicable in the UK and Republic of Ireland (as applied to small entities by section 1A of the standard). The financial statements are presented in sterling which is the functional currency of the company and are rounded to the nearest £.
Turnover
The company has no turnover as its income is derived from rental income and property management charges receivable during the year.
Investments
Investments in subsidiaries, associates and joint ventures are measured at cost less any accumulated impairment losses. Listed investments are measured at fair value. Unlisted investments are measured at fair value unless the value cannot be measured reliably, in which case they are measured at cost less any accumulated impairment losses. Changes in fair value are included in the profit and loss account.
Debtors and creditors receivable/ payable within one year
Debtors and creditors with no stated interest rate and receivable and payable within one year are recorded at transaction price. Any losses from impairment are recognised in the profit and loss account in other administrative expenses.
Taxation
A current tax liability is recognised for the tax payable on the taxable profit of the current and past periods. A current tax asset is recognised in respect of a tax loss that can be carried back to recover tax paid in a previous period. Deferred tax is recognised in respect of all timing differences between the recognition of income and expenses in the financial statements and their inclusion in tax assessments. 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. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date and that are expected to apply to the reversal of the timing difference, except for revalued land and investment property where the tax rate that applies to the sale of the asset is used. Current and deferred tax assets and liabilities are not discounted.
Provisions
Provisions (ie liabilities of uncertain timing or amount) are recognised when there is an obligation at the reporting date as a result of a past event, it is probable that economic benefit will be transferred to settle the obligation and the amount of the obligation can be estimated reliably.
2 Employees 2024 2023
Number Number
Average number of persons employed by the company 1 1
3 Tangible fixed assets
Land and buildings
£
Cost
At 1 June 2023 316,998
Disposals (316,998)
At 30 November 2024 -
Depreciation
At 30 November 2024 -
Net book value
At 30 November 2024 -
At 31 May 2023 316,998
4 Investments
Other
investments
£
Cost
Additions 316,998
Revaluation 183,002
At 30 November 2024 500,000
Investment property is included at fair value. Gains are recognised in the income statement. Deferred taxation is provided on these gains at the rate expected to apply when the property is sold.

The company's investment properties were valued by the company's director, Mr D Millin, on the basis of their fair value for existing use.
5 Debtors 2024 2023
£ £
Other debtors 15,470 15,470
6 Creditors: amounts falling due within one year 2024 2023
£ £
Bank loans and overdrafts - 16,378
Trade creditors 101 -
Taxation and social security costs 21,760 8,936
Other creditors 96,102 96,819
117,963 122,133
7 Creditors: amounts falling due after one year 2024 2023
£ £
Bank loans - 18,984
8 Other information
Aspen Properties (South West) Limited is a private company limited by shares and incorporated in England. Its registered office is:
Phillip House
Aspen Way
Paignton
Devon
TQ4 7QR
The company's period has been extended from 31 May 2024 to 30 November 2024. As such, the prior year figures are not entirely comparable due to the fact these accounts cover eighteen months and the previous period was twelve months.
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