Aspen Housing And Development Ltd - Accounts to registrar (filleted)

REGISTERED NUMBER: 10000266 (England and Wales)

UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31ST MARCH 2025

FOR

ASPEN HOUSING AND DEVELOPMENT LTD

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

4

DIRECTORS:

K Larkins

M Lock

Mr R D J Orrett

REGISTERED OFFICE:

Bridgwater House

King Square

Bridgwater

Somerset

TA6 3AR

REGISTERED NUMBER:

10000266 (England and Wales)

ACCOUNTANTS:

Aspen Waite Limited

Chartered Accountants

Rubis House

15 Friarn Street

Bridgwater

Somerset

TA6 3LH

FIXED ASSETS

Investment property

4

2,250,000

2,659,800

CURRENT ASSETS

Debtors

5

8,130

4,008

Cash at bank

96,639

120,464

104,769

124,472

CREDITORS

Amounts falling due within one year

6

(77,632

)

(115,429

)

NET CURRENT ASSETS

27,137

9,043

TOTAL ASSETS LESS CURRENT
LIABILITIES

2,277,137

2,668,843

CREDITORS

Amounts falling due after more than one year

7

(1,215,759

)

(1,251,415

)

NET ASSETS

1,061,378

1,417,428

CAPITAL AND RESERVES

Called up share capital

2

Share premium

694,999

Revaluation reserve

9

344,500

754,300

Capital redemption reserve

-

31,982

Retained earnings

21,877

(63,855

)

1,061,378

1,417,428

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

The members have not required the company to obtain an audit of its financial statements for the year ended 31st March 2025 in accordance with Section 476 of the Companies Act 2006.

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 have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered.

The financial statements were approved and authorised for issue by the Board of Directors and authorised for issue on 23rd October 2025 and were signed on its behalf by:

K Larkins - Director

1.	STATUTORY INFORMATION

Aspen Housing And Development Ltd 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 Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" including the provisions of Section 1A "Small Entities" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention as modified by the revaluation of certain assets.

Turnover

The turnover is made up of rental and service charge income provided during the financial year covered by these Financial Statements. Turnover is recognised when services have been completed and all turnover arises in the United Kingdom.

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 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 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.

Impairment of assets

Fixed assets are reviewed at the reporting date to determine whether there is any indication that those assets have suffered an impairment loss. If there is evidence of impairment, the recoverable amount (valuation) of the asset is compared with the carrying carried forward tax losses and from which the future reversal of underlying timing differences can be deducted. Deferred tax is measured at the average tax rates that are expected to apply in the periods in which the timing differences are expected to reverse, based on tax rates and laws that have been enacted or substantively enacted by the balance sheet date. Deferred tax is measured on an undiscounted basis.

3.	EMPLOYEES AND DIRECTORS

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

4.	INVESTMENT PROPERTY

Total

£

FAIR VALUE

At 1st April 2024

2,659,800

Impairments

(409,800

)

At 31st March 2025

2,250,000

NET BOOK VALUE

At 31st March 2025

2,250,000

At 31st March 2024

2,659,800

Fair value at 31st March 2025 is represented by:

£

Valuation in 2025

344,500

Cost

1,905,500

2,250,000

5.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2025

2024

£

Trade debtors

8,130

4,008

6.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2025

2024

£

Other loans

35,655

34,199

Trade creditors

26,639

74,245

Corporation tax

11,384

-

Accruals and deferred income

3,954

6,985

77,632

115,429

7.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR

2025

2024

£

Other loans - 1-2 years

37,180

35,655

Other loans - 2-5 years

121,422

116,405

Other loans over 5 years

1,057,157

1,099,355

1,215,759

1,251,415

2025

2024

£

Amounts falling due in more than five years:

Repayable by instalments

Other loans over 5 years

1,057,157

1,099,355

8.	SECURED DEBTS

Somerset Council holds a fixed and floating charge over all the property or undertaking of the company dated 29 March 2016.

Somerset Council holds a continuing security with full title guarantee, by way of legal charge over freehold and leasehold property comprising Aspen Court, Wembdon Road, Bridgwater (ST48506) dated 29 March 2016.

9.

RESERVES

Revaluation

reserve

£

At 1st April 2024

754,300

Investment property

(409,800

)

At 31st March 2025

344,500

10.	RELATED PARTY DISCLOSURES

At the 31 March 2025 the company owed a total of £1,251,414, (31 March 2024 £1,285,614), to Somerset Council. During the year interest and principal repayments totalling £89,958 were made.

In addition £6,000, (2024 £25,665) was paid to Somerset Council for the services performed by staff under a resource agreement.

11.	ULTIMATE CONTROLLING PARTY

The ultimate parent undertaking and controlling party is Somerset Council. The company is wholly owned by Sedgemoor Group Ltd.