REGISTERED NUMBER: 11177886 (England and Wales)

Unaudited Financial Statements

For The Year Ended

31 January 2025

for

ASCENDANT PROJECTS LIMITED

Page

Company Information

1

Abridged Balance Sheet

2

Notes to the Financial Statements

3

DIRECTOR:

Mr D H Brown

REGISTERED OFFICE:

James House

Adcroft Street

Stokport

Cheshire

SK1 3HZ

REGISTERED NUMBER:

11177886 (England and Wales)

ACCOUNTANTS:

Leavitt Walmsley Associates Limited

Chartered Certified Accountants

8 Eastway

Sale

Cheshire

M33 4DX

FIXED ASSETS

Investment property

4

230,278

230,278

CURRENT ASSETS

Debtors

1,152

1,392

Cash at bank

4,424

4,679

5,576

6,071

CREDITORS

Amounts falling due within one year

63,921

64,554

NET CURRENT LIABILITIES

(58,345

)

(58,483

)

TOTAL ASSETS LESS CURRENT LIABILITIES

171,933

171,795

CREDITORS

Amounts falling due after more than one year

5

(171,806

)

(172,548

)

PROVISIONS FOR LIABILITIES

(122

)

(122

)

NET ASSETS/(LIABILITIES)

5

(875

)

CAPITAL AND RESERVES

Called up share capital

100

100

Non-distributable reserve

518

518

Retained earnings

(613

)

(1,493

)

SHAREHOLDERS' FUNDS

5

(875

)

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 January 2025.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 January 2025 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.

All the members have consented to the preparation of an abridged Balance Sheet for the year ended 31 January 2025 in accordance with Section 444(2A) of the Companies Act 2006.

In accordance with Section 444 of the Companies Act 2006, the Profit and Loss Account has not been delivered.

The financial statements were approved by the director and authorised for issue on 23 October 2025 and were signed by:

Mr D H Brown - Director

1.	STATUTORY INFORMATION

Ascendant Projects 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 the provisions of FRS 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" including Section 1A "Small Entities" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.

Rental income

Rents received is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

The company's policy of revenue recognition is to recognise rental income when the contractual obligations to the customer have been fulfilled. For contracts where obligations to the customer have not been fulfilled, but have been invoiced revenue is recognised within deferred income in current liabilities until such time a right to consideration arises.

Rental income is recognised on a straight-line basis over the term of the tenant's lease. Rental income that is receivable but not paid is presented within current assets as debtors and measured at amortised cost.

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.

Investment property is recorded at fair value at each reporting date with fair value gains and losses being recorded in the profit and loss account. Deferred tax consequences in respect of fair value adjustments on investment property are also recorded in profit and loss account. Gains, net of deferred tax, are non-distributable to the shareholders and are presented in a separate component of equity in the balance sheet.

Financial instruments

A financial asset or financial liability is recognised only when the entity becomes a party to the contractual provisions of the instrument.

Basic financial instruments are initially recognised at transaction price and measured at amortised cost using the effective interest method. Where investments in non-derivative financial instruments are publicly traded, or their fair value can otherwise be measured reliably, the investment is subsequently measured at fair value through profit or loss. All other investments are subsequently measured at cost less impairment.

Debtors and creditors which fall due within one year are recorded in the financial statements at transaction price and subsequently measured at amortised cost. If the effects of the time value of money are immaterial, they are measured at cost (less impairment for trade debtors). Debtors are reviewed for impairment at each reporting date and any impairments are recorded in profit or loss and shown within administrative expenses when there is objective evidence that a debtor is impaired. Objective evidence that a debtor is impaired arises when the customer is unable to settle amounts owing to the company or the customer becomes bankrupt.

Debtors do not carry interest and are stated at their nominal value.

Trade creditors are not interest-bearing and are stated at their nominal value.

Financial assets which are measured at cost or amortised cost are reviewed for objective evidence of impairment at each balance sheet date. If there is objective evidence of impairment, an impairment loss is recognised in profit or loss immediately. All equity instruments, regardless of significance, and other financial assets that are individually significant, are assessed individually for impairment. Other financial assets are either assessed individually or grouped on the basis of similar credit risk characteristics.

Any reversals of impairment are recognised in profit or loss immediately, to the extent that the reversal does not result in a carrying amount of the financial asset which exceeds what the carrying amount would have been had the impairment loss not previously been recognised.

Hire purchase and leasing commitments

Assets obtained under hire purchase contracts or finance leases are capitalised in the balance sheet. Those held under hire purchase contracts are depreciated over their estimated useful lives. Those held under finance leases are depreciated over their estimated useful lives or the lease term, whichever is the shorter.

The interest element of these obligations is charged to the profit and loss account using the effective interest method under Section 11 of FRS 102 ‘Basic Financial Instruments’. The capital element of the liability is presented in the balance sheet as a liability and split between the portion falling due within one year and the portion falling due after more than one year.

Employee benefits

Short-term employee benefits are measured at the undiscounted amount expected to be paid in exchange for the employee's services to the company. Where employees have accrued short-term benefits which the entity has not paid by the balance sheet date, an accrual is recognised within creditors: amounts falling due within one year with an associated expense in profit or loss.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 1 (2024 - 1 ) .

4.	INVESTMENT PROPERTY

Total

£

FAIR VALUE

At 1 February 2024

and 31 January 2025

230,278

NET BOOK VALUE

At 31 January 2025

230,278

At 31 January 2024

230,278

FRS 102, Section 16 'Investment Property' requires the company to remeasure investment property to fair value at each reporting date with changes in fair value being recorded in profit or loss together with any associated deferred tax consequences (which are also recorded in profit or loss). In the absence of a fair valuation of these properties, it is not possible to state the investment properties at their fair value at the balance sheet date.

5.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN FIVE YEARS

31.1.25

31.1.24

£

£

Repayable by instalments

Mortgage

171,237

171,237

6.	SECURED DEBTS

The following secured debts are included within creditors:

31.1.25

31.1.24

£

£

Bank loans

172,548

173,272

The loans are secured by a negative pledge in favour of Paragon Bank PLC.

7.	DIRECTOR'S ADVANCES, CREDITS AND GUARANTEES

During the year the company made advances to the director of £1,763 and received credits of £960 from the director.The rate of interest charged on these advances was 0% and there were no terms attached to the advances.

8.	GOING CONCERN

During the year the director has introduced funds in order to support the company's working capital requirements.The director has given assurances that the director's current account will not be drawn down to the detriment of the company's creditors or cash flow and the director considers that the company is a going concern for at least 12 months from the date the financial statements are issued. On this basis, the financial statements have been prepared on a going concern basis.