| REGISTERED NUMBER: |
| Unaudited Financial Statements |
| for the Year Ended 30 June 2024 |
| for |
| Asset Property And Investments Ltd |
| REGISTERED NUMBER: |
| Unaudited Financial Statements |
| for the Year Ended 30 June 2024 |
| for |
| Asset Property And Investments Ltd |
| Asset Property And Investments Ltd (Registered number: 10208628) |
| Contents of the Financial Statements |
| for the Year Ended 30 June 2024 |
| Page |
| Company Information | 1 |
| Chartered Accountants' Report | 2 |
| Statement of Financial Position | 3 |
| Notes to the Financial Statements | 4 |
| Asset Property And Investments Ltd |
| Company Information |
| for the Year Ended 30 June 2024 |
| DIRECTOR: |
| REGISTERED OFFICE: |
| REGISTERED NUMBER: |
| ACCOUNTANTS: |
| Chartered Accountants |
| Charter House, Wyvern Court |
| Stanier Way |
| Derby |
| DE21 6BF |
| Chartered Accountants' Report to the Director |
| on the Unaudited Financial Statements of |
| Asset Property And Investments Ltd |
| The following reproduces the text of the report prepared for the director in respect of the company's annual unaudited financial statements. In accordance with the Companies Act 2006, the company is only required to file a Statement of Financial Position. Readers are cautioned that the Income Statement and certain other primary statements and the Report of the Director are not required to be filed with the Registrar of Companies. |
| In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the financial statements of Asset Property And Investments Ltd for the year ended 30 June 2024 which comprise the Income Statement, Statement of Financial Position and the related notes from the company's accounting records and from information and explanations you have given us. |
| As a practising member firm of the Institute of Chartered Accountants in England and Wales (ICAEW), we are subject to its ethical and other professional requirements which are detailed within the ICAEW's regulations and guidance at http://www.icaew.com/en/membership/regulations-standards-and-guidance. |
| This report is made solely to the director of Asset Property And Investments Ltd in accordance with our terms of engagement. Our work has been undertaken solely to prepare for your approval the financial statements of Asset Property And Investments Ltd and state those matters that we have agreed to state to the director of Asset Property And Investments Ltd in this report in accordance with ICAEW Technical Release 07/16AAF. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than Asset Property And Investments Ltd and its director for our work or for this report. |
| It is your duty to ensure that Asset Property And Investments Ltd has kept adequate accounting records and to prepare statutory financial statements that give a true and fair view of the assets, liabilities, financial position and loss of Asset Property And Investments Ltd. You consider that Asset Property And Investments Ltd is exempt from the statutory audit requirement for the year. |
| We have not been instructed to carry out an audit or a review of the financial statements of Asset Property And Investments Ltd. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory financial statements. |
| Chartered Accountants |
| Charter House, Wyvern Court |
| Stanier Way |
| Derby |
| DE21 6BF |
| Asset Property And Investments Ltd (Registered number: 10208628) |
| Statement of Financial Position |
| 30 June 2024 |
| 2024 | 2023 |
| Notes | £ | £ | £ | £ |
| FIXED ASSETS |
| Tangible assets | 4 |
| Investment property | 5 |
| CURRENT ASSETS |
| Debtors | 6 |
| Prepayments and accrued income |
| Cash at bank |
| CREDITORS |
| Amounts falling due within one year | 7 |
| NET CURRENT LIABILITIES | ( |
) | ( |
) |
| TOTAL ASSETS LESS CURRENT LIABILITIES |
| CREDITORS |
| Amounts falling due after more than one year | 8 | ( |
) | ( |
) |
| PROVISIONS FOR LIABILITIES | ( |
) | ( |
) |
| ACCRUALS AND DEFERRED INCOME | ( |
) | ( |
) |
| NET ASSETS |
| CAPITAL AND RESERVES |
| Called up share capital |
| Fair value reserve | 9 |
| Retained earnings | ( |
) | ( |
) |
| 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 were approved by the director and authorised for issue on |
| Asset Property And Investments Ltd (Registered number: 10208628) |
| Notes to the Financial Statements |
| for the Year Ended 30 June 2024 |
| 1. | STATUTORY INFORMATION |
| Asset Property And Investments Ltd is a |
| The presentation currency of the financial statements is the Pound Sterling (£). |
| 2. | ACCOUNTING POLICIES |
| Basis of preparing the financial statements |
| Turnover |
| Rental income arising from operating leases on investment properties is accounted for on a straight line basis over the lease term. |
| Tangible fixed assets |
| Plant and machinery | - |
| Computer equipment | - |
| Investment property |
| Investment property is shown at most recent valuation. Any aggregate surplus or deficit arising from changes in fair value is recognised in profit or loss. |
| Taxation |
| Taxation for the year 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 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 year 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. |
| Hire purchase and leasing commitments |
| Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease. |
| 3. | EMPLOYEES AND DIRECTORS |
| The average number of employees during the year was NIL (2023 - NIL). |
| Asset Property And Investments Ltd (Registered number: 10208628) |
| Notes to the Financial Statements - continued |
| for the Year Ended 30 June 2024 |
| 4. | TANGIBLE FIXED ASSETS |
| Plant and | Computer |
| machinery | equipment | Totals |
| £ | £ | £ |
| COST |
| At 1 July 2023 |
| and 30 June 2024 |
| DEPRECIATION |
| At 1 July 2023 |
| Charge for year |
| At 30 June 2024 |
| NET BOOK VALUE |
| At 30 June 2024 |
| At 30 June 2023 |
| 5. | INVESTMENT PROPERTY |
| Total |
| £ |
| FAIR VALUE |
| At 1 July 2023 |
| Additions |
| Revaluations | (136,028 | ) |
| At 30 June 2024 |
| NET BOOK VALUE |
| At 30 June 2024 |
| At 30 June 2023 |
| Fair value at 30 June 2024 is represented by: |
| £ |
| Valuation in 2020 | 70,568 |
| Valuation in 2021 | 160,251 |
| Valuation in 2023 | 248,327 |
| Valuation in 2024 | (136,028 | ) |
| Cost | 1,623,656 |
| 1,966,774 |
| If investment property had not been revalued it would have been included at the following historical cost: |
| 2024 | 2023 |
| £ | £ |
| Cost | 1,193,813 | 1,193,813 |
| Aggregate depreciation | (23,876 | ) | (23,876 | ) |
| Investment property was valued on an open market basis on 30 June 2024 by the director . |
| 6. | DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
| 2024 | 2023 |
| £ | £ |
| Trade debtors |
| Other debtors |
| Asset Property And Investments Ltd (Registered number: 10208628) |
| Notes to the Financial Statements - continued |
| for the Year Ended 30 June 2024 |
| 7. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
| 2024 | 2023 |
| £ | £ |
| Bank loans and overdrafts |
| Other creditors |
| 8. | CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR |
| 2024 | 2023 |
| £ | £ |
| Bank loans |
| 9. | RESERVES |
| Fair |
| value |
| reserve |
| £ |
| At 1 July 2023 |
| Transfers | (96,693 | ) |
| At 30 June 2024 |
| 10. | DIRECTOR'S ADVANCES, CREDITS AND GUARANTEES |
| The following advances and credits to a director subsisted during the year ended 30 June 2024 and the period ended 30 June 2023: |
| 2024 | 2023 |
| £ | £ |
| Balance outstanding at start of year |
| Amounts advanced |
| Amounts repaid | ( |
) |
| Amounts written off | - | - |
| Amounts waived | - | - |
| Balance outstanding at end of year |
| The director, G D Warren, has given personal guarantees over the mortgages held by the company. |