The directors of the company have elected not to include a copy of the profit and loss account within the financial statements.true

For the financial year ended 31 March 2025 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.

The members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476.

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

Ascot Place Limited is a private company limited by shares incorporated in England and Wales. The registered office is The Granary, Home Farm, Squerryes Estate, Westerham, Kent, TN16 1SL.

These financial statements have been prepared in accordance with Section 1A of FRS 102 “The Financial Reporting Standard applicable in the UK and Republic of Ireland” (“FRS 102”) and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime.

The financial statements are prepared in sterling, which is the functional currency of the company. Monetary amounts in these financial statements are rounded to the nearest £.

The financial statements have been prepared under the historical cost convention. The principal accounting policies adopted are set out below.

Interests in subsidiaries, associates and jointly controlled entities are initially measured at cost and subsequently measured at cost less any accumulated impairment losses. The investments are assessed for impairment at each reporting date and any impairment losses or reversals of impairment losses are recognised immediately in profit or loss.

A subsidiary is an entity controlled by the company. Control is the power to govern the financial and operating policies of the entity so as to obtain benefits from its activities.

An associate is an entity, being neither a subsidiary nor a joint venture, in which the company holds a long-term interest and where the company has significant influence. The company considers that it has significant influence where it has the power to participate in the financial and operating decisions of the associate.

Entities in which the company has a long term interest and shares control under a contractual arrangement are classified as jointly controlled entities.

Cash at bank and in hand are basic financial assets and include cash in hand and balances held at call with banks.

The company only has financial instruments classified as basic and measured at amortised cost. The company has no financial instruments that are classified as 'other' or financial instruments measured at fair value.

Equity instruments issued by the company are recorded at the proceeds received, net of transaction costs. Dividends payable on equity instruments are recognised as liabilities once they are no longer at the discretion of the company.

Details of the company's subsidiaries at 31 March 2025 are as follows:

The bank loan within Asprey Homes Limited is secured by way of unlimited multilateral guarantee given by Asprey Homes Limited together with the company and its ultimate parent company Elliott & Elliott Property Development Co Ltd; fixed and floating charges over the company's assets; and first legal charges over Asprey Homes Limited's trading stock.

The company has taken advantage of exemptions from disclosing transactions with related companies under the provisions of Section 33 of Financial Reporting Standard 102.

Included within Other Creditors at the year end is £1,145,000 (2024: £1,235,000 ) owed to a director.

The ultimate parent undertaking is Elliott & Elliott Property Development Co Limited. Its registered office is The Granary, Home Farm, Squerryes Estate, Westerham, Kent, TN16 1SL. The group has taken advantage of the exemption under section 399 of the Companies Act 2006 not to prepare consolidated account, on the basis that the group of which Elliott & Elliott Property Development Co Limited is the parent qualifies as a small group.