ASC Investments Limited - Filleted accounts

Registered number

02776010

ASC Investments Limited

Unaudited Filleted Accounts

31 March 2025

ASC Investments Limited
Registered number:		02776010
Balance Sheet
as at 31 March 2025

Notes			2025			2024
£				£
Fixed assets
Tangible assets	3		-			50
Investments	4		1,205,751			1,205,751
			1,205,751			1,205,801

Current assets
Debtors	5	1,955,272			2,105,089
Cash at bank and in hand		34,900			14,214
		1,990,172			2,119,303

Creditors: amounts falling due within one year	6	(355,445)			(416,530)

Net current assets			1,634,727			1,702,773

Total assets less current liabilities			2,840,478			2,908,574

Creditors: amounts falling due after more than one year	7		(1,750,000)			(1,825,000)


Net assets			1,090,478			1,083,574

Capital and reserves
Called up share capital			1,000,000			1,000,000
Profit and loss account			90,478			83,574

Shareholders' funds			1,090,478			1,083,574

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.




Ms M E Christodoulou
Director
Approved by the board on 29 September 2025

ASC Investments Limited
Notes to the Accounts
for the year ended 31 March 2025


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 company and its subsidiary undertakings comprise a small group and the company has taken advantage of the exemption provided by section 399 of the Companies Act 2006 not to prepare group accounts. These financial statements therefore present information about the company as an individual undertaking and not about its group.

	Turnover
	Turnover represents the gross amounts derived from the provision of business office services.

	Tangible fixed assets
	Tangible fixed assets are measured at cost less accumulative depreciation and any accumulative impairment losses. Depreciation is provided on all tangible fixed assets, other than freehold land, at rates calculated to write off the cost, less estimated residual value, of each asset evenly over its expected useful life, as follows:

	Motor vehicles		over 4 years
	Fixtures and fittings		over 4 years
	Office equipment		over 4 years
	Computer equipment		over 4 years

	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
	Short term debtors are measured at transaction price (which is usually the invoice price), less any impairment losses for bad and doubtful debts. Loans and other financial assets are initially recognised at transaction price including any transaction costs and subsequently measured at amortised cost determined using the effective interest method, less any impairment losses for bad and doubtful debts.

	Creditors
	Short term creditors are measured at transaction price (which is usually the invoice price). Loans and other financial liabilities are initially recognised at transaction price net of any transaction costs and subsequently measured at amortised cost determined using the effective interest method.

	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.

	Pensions
	Contributions to defined contribution plans are expensed in the period to which they relate.


2	Employees				2025		2024
Number						Number

	Average number of persons employed by the company				4		4


3	Tangible fixed assets
			Equipment fixtures & fittings		Motor vehicles		Total
£				£		£
	Cost
	At 1 April 2024		105,659		18,000		123,659
	Disposals		-		(18,000)		(18,000)
	At 31 March 2025		105,659		-		105,659

	Depreciation
	At 1 April 2024		105,610		17,999		123,609
	Charge for the year		49		-		49
	On disposals		-		(17,999)		(17,999)
	At 31 March 2025		105,659		-		105,659

	Net book value
	At 31 March 2025		-		-		-
	At 31 March 2024		49		1		50


4	Investments
Investments in
subsidiary
undertakings
£
	Cost
	At 1 April 2024						1,205,751

	At 31 March 2025						1,205,751

	Subsidiary undertakings

	The following companies were subsidiary undertakings of the company during the year:

		Shares held
	Company	Class	Holding		Principal activity

	ASC Estates Limited	Ordinary	100%		Property investment
	Promarn Limited	Ordinary	100%		Property investment
	Spiketron Limited	Ordinary	100%		General investments

	The aggregate share capital and reserves as at 31 March 2025 and the profit or loss for the year then ended for each subsidiary undertaking were as follows:
					Share capital and reserves		Profit/loss) for the year
£						£

	ASC Estates Limited				12,764,102		379,790
	Promarn Limited				6,025,697		267,178
	Spiketron Limited				19,409		(9,173)
					18,809,208		637,795


5	Debtors				2025		2024
£						£

	Amounts owed by group undertakings				1,952,581		2,101,756
	Prepayments and accrued income				2,691		3,333
					1,955,272		2,105,089


6	Creditors: amounts falling due within one year				2025		2024
£						£

	Amounts owed to group undertakings				260,554		325,554
	Taxation and social security costs				4,325		3,910
	Other creditors				83,830		79,725
	Accruals and deferred income				6,736		7,341
					355,445		416,530


7	Creditors: amounts falling due after one year				2025		2024
£						£

	Other loans				1,750,000		1,825,000

	Other loans comprise amounts advanced as follows:

	Mr S A Christodoulou				550,000		500,000
	Mr A I Christodoulou				-		125,000
	A I Christodoulou Family Trusts				1,200,000		1,200,000
					1,750,000		1,825,000

	The loans are unsecured, interest free and have no fixed date of repayment. The loans are not repayable until after 31st March 2026. The A I Christodoulou Family Trusts are six in total and the loan from each Trust amounts to £200,000. The Trusts were created by Mr A I Christodoulou as Settlor on 13 February 2019 for the benefit of his six grandchildren. Mr A I Christodoulou is also a Trustee in all six Trusts. The remaining directors Mr S A Christodoulou and Ms M E Christodoulou are also Trustees, Mr S A Christodoulou in three Trusts and Ms M E Christodoulou in two Trusts.


8	Pension commitments

	The company operates a defined contributions pension scheme. The assets of the scheme are held separately from those of the company in an independently administered fund. The pension cost charge represents contributions payable by the company to the fund and amounted to £31,874 (2024 - £32,957). Contributions totalling £398 (2024 - £345) were payable to the fund at the reporting date and are included in creditors.


9	Other financial commitments				2025		2024
£						£

	Total future minimum payments under non-cancellable operating leases				66,000		66,000


10	Related party transactions

	During the year, the company charged £21,000 (2024: £21,000) to Delphi Assets Limited and £10,000 (2024: £10,000) to Corner 12 Limited for the provision of business office services. SA Christodolou is a director of both these companies. Rent was paid during the period to Delphi Assets Limited of £66,000 (2024: £66,000). Advantage has been taken of the FRS 102 exemption not to disclose related party transactions with subsidiaries that are wholly owned by the parent company.


11	Controlling party

	The company is controlled by Mr S A Christodoulou by virtue of his majority shareholding.

12	Other information

	ASC Investments Limited is a private company limited by shares and incorporated in England. Its registered office is:
	Kastalia
	1A Harmood Street
	London
	NW1 8DN