Ascot Southern Limited - Filleted accounts

Registered number

02101641

Ascot Southern Limited

Filleted Accounts

31 March 2025

Ascot Southern Limited
Registered number:		02101641
Balance Sheet
as at 31 March 2025

Notes			2025			2024
£				£
Fixed assets
Tangible assets	3		700,000			700,000

Current assets
Cash at bank and in hand		5,319			6,739

Creditors: amounts falling due within one year	4	(52,639)			(39,507)

Net current liabilities			(47,320)			(32,768)

Total assets less current liabilities			652,680			667,232

Provisions for liabilities			(134,396)			(134,396)

Net assets			518,284			532,836

Capital and reserves
Called up share capital			1,000			1,000
Fair value reserve	5		473,855			473,855
Profit and loss account			43,429			57,981

Shareholder's funds			518,284			532,836

The director is satisfied that the company is entitled to exemption from the requirement to obtain an audit under section 477 of the Companies Act 2006.
The member has not required the company to obtain an audit in accordance with section 476 of the Act.
The director acknowledges her 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.




Deborah Maria Morley
Director
Approved by the board on 7 December 2025

Ascot Southern 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).

	Turnover
	Turnover is measured at the fair value of the consideration received or receivable. Turnover comprises rents receivable from the letting of investment properties.

	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:

	Equipment	15% per annum, reducing balance basis

	Investment properties
	Investment properties are initially measured at cost, including transaction costs. Subsequently investment properties are measured at fair value. Gains and losses arising from changes in the fair value of investment properties 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.


2	Employees			2025		2024
Number					Number

	Average number of persons employed by the company			1		1


3	Tangible fixed assets
		Leasehold investment properties		Equipment		Total
£			£		£
	Cost or valuation
	At 1 April 2024	700,000		20,494		720,494
	At 31 March 2025	700,000		20,494		720,494

	Depreciation
	At 1 April 2024	-		20,494		20,494
	At 31 March 2025	-		20,494		20,494

	Net book value
	At 31 March 2025	700,000		-		700,000
	At 31 March 2024	700,000		-		700,000


	Investment properties			2025		2024
£					£
	Historical cost			91,749		91,749
	Cumulative depreciation based on historical cost			-		-
				91,749		91,749
	The leasehold investment properties were revalued at open market value in early 2024. In the opinion of the director, there has not been any material change in the open market value at the latest year end date.


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

	Taxation and social security costs			2,668		3,292
	Accruals			1,440		1,440
	Other creditors			48,531		34,775
				52,639		39,507


5	Fair value reserve			2025		2024
£					£

	At 1 April 2024			473,855		315,300
	Gain on revaluation of land and buildings			-		292,951
	Deferred taxation arising on the revaluation of land and buildings			-		(134,396)

	At 31 March 2025			473,855		473,855


6	Other information

	Ascot Southern Limited is a private company limited by shares and incorporated in England. Its registered office is:
	Kent Lodge
	6 Trinity Trees
	Eastbourne
	England
	BN21 3LL