ASW (PROPERTIES) LIMITED


Directors	PRATT, David Michael
	PRATT, Eileen
	PRATT, Michael John


Company Secretary	PRATT, Eileen


Registered Address	High Grove
	Winscales
	Workington
	CA14 4JF


Registered Number	05170512 (England and Wales)

Statement of Financial Position
30 September 2025

	Notes	2025		2024
		£	£	£	£
Fixed assets
Investments	4		10,200		10,200
Investment property	3		437,294		437,294
			447,494		447,494
Current assets
Debtors		-		1
Cash at bank and on hand		6,143		7,135
		6,143		7,136
Creditors amounts falling due within one year	5	(6,364)		(9,921)
Net current assets (liabilities)			(221)		(2,785)
Total assets less current liabilities			447,273		444,709
Net assets			447,273		444,709
Capital and reserves
Called up share capital			10,300		10,300
Profit and loss account			436,973		434,409
Shareholders' funds			447,273		444,709

The company was entitled to exemption from audit for this reporting period under section 477 of the Companies Act 2006 relating to small companies.
The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The Directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
These accounts have been prepared in accordance with the provisions applicable to companies subject to the small companies regime.
The directors have chosen to not file a copy of the company’s profit and loss account under section 444 (5A) Companies Act 2006.

The financial statements were approved and authorised for issue by the Board of Directors on 27 November 2025, and are signed on its behalf by:

PRATT, Michael John
Director
Registered Company No. 05170512

ASW (PROPERTIES) LIMITED

Notes to the Financial Statements
for the year ended 30 September 2025

1.	Accounting policies

	Statutory information
	The company is a private company limited by shares and registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.

	Basis of preparation
	The financial statements have been prepared under the historical cost convention on a going concern basis unless otherwise specified within these accounting policies and in accordance with Section 1A of Financial Reporting Standard 102, the Financial Reporting Standard applicable in the UK and the Republic of Ireland and the Companies Act 2006.

	Functional and presentation currency
	The financial statements are presented in sterling and this is the functional currency of the company.

	Turnover policy
	Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover includes revenue earned from the sale of goods and/or the rendering of services. Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods have transferred to the buyer. Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs.

Turnover policy

Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover includes revenue earned from the sale of goods and/or the rendering of services.

Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods have transferred to the buyer. 

Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs.

	Dividend income
	Dividend income is recognised when the right to receive payment is established.

	Current taxation
	Current tax is recognised on taxable profit for the current and past periods. Current tax is measured at the amounts of tax expected to pay or recover using the tax rates and laws that have been enacted or substantively enacted at the reporting date.

	Deferred tax
	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.

Deferred tax

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.

	Investments
	Investments in subsidiaries, associates and joint ventures are measured at cost less any accumulated impairment losses. Listed investments are measured at fair value where the difference between cost and fair value is material. 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 Income Statement.

Investments

Investments in subsidiaries, associates and joint ventures are measured at cost less any accumulated impairment losses. Listed investments are measured at fair value where the difference between cost and fair value is material. 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 Income Statement.

	Investment property
	Investment property is carried at fair value determined annually by external valuers and derived from the current market rents and investment property yields for comparable real estate. These values are adjusted if necessary for any difference in the nature, location or condition of the specific asset. No depreciation is provided. Changes in fair value are recognised in the Income Statement.

	Trade and other 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.

	Financial instruments
	The company enters into basic financial instrument transactions that result in the recognition of financial assets and liabilities like trade and other debtors and creditors, loans from banks and other third parties, loans to related parties and investments in ordinary shares.

2.	Average number of employees


		2025		2024
	Average number of employees during the year	3		3

3.	Investment property
	The investment properties class of fixed assets was valued on 30 September 2025 by the Directors who are internal to the company. This class of assets has a current value of £437,294 (2024 - £437,294) and a carrying amount of historical cost of £437,294 (2024 - £437,294). The depreciation on this historical cost is £Nil (2024 - £Nil). There has been no valuation of investment property by an independent valuer.

Investment property

The investment properties class of fixed assets was valued on 30 September 2025 by the Directors who are internal to the company.  This class of assets has a current value of £437,294 (2024 - £437,294) and a carrying amount of historical cost of £437,294 (2024 - £437,294).  The depreciation on this historical cost is £Nil (2024 - £Nil).

There has been no valuation of investment property by an independent valuer.


		£
	Fair value at 01 October 24	437,294
	At 30 September 25	437,294

4.	Fixed asset investments
	Fixed asset investments relate to shares held in a subsidiary, The Old Ginn House Limited. The company is registered in England and Wales.

	Investments in groups¹	Total
	£	£
Cost or valuation
At 01 October 24	10,200	10,200
At 30 September 25	10,200	10,200
Net book value
At 30 September 25	10,200	10,200
At 30 September 24	10,200	10,200

	Notes
	¹Investments in group undertakings and participating interests

5.	Creditors: amounts due within one year

	2025	2024
	£	£
Taxation and social security	5,689	4,326
Other creditors	-	4,994
Accrued liabilities and deferred income	675	601
Total	6,364	9,921