REGISTERED NUMBER: 10754280 (England and Wales)

ASGRO LTD

UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2025

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

4

DIRECTORS:

A S Grewal

Mrs S Grewal

REGISTERED OFFICE:

Marston House

5 Elmdon Lane

Marston Green

Solihull

West Midlands

B37 7DL

REGISTERED NUMBER:

10754280 (England and Wales)

ACCOUNTANTS:

Sephton & Company LLP

Chartered Certified Accountants

Marston House

5 Elmdon Lane

Marston Green

Solihull

West Midlands

B37 7DL

FIXED ASSETS

Tangible assets

4

82,901

25,308

Investments

5

1

1

Investment property

6

8,204,495

7,515,000

8,287,397

7,540,309

CURRENT ASSETS

Debtors

7

430,607

624,113

Cash at bank

332,763

249,449

763,370

873,562

CREDITORS

Amounts falling due within one year

8

1,129,994

1,473,731

NET CURRENT LIABILITIES

(366,624

)

(600,169

)

TOTAL ASSETS LESS CURRENT LIABILITIES

7,920,773

6,940,140

CREDITORS

Amounts falling due after more than one year

9

(4,790,824

)

(3,667,867

)

PROVISIONS FOR LIABILITIES

(519,932

)

(566,161

)

NET ASSETS

2,610,017

2,706,112

CAPITAL AND RESERVES

Called up share capital

4

4

Retained earnings

2,610,013

2,706,108

2,610,017

2,706,112

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

The members have not required the company to obtain an audit of its financial statements for the year ended 31 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 by the Board of Directors and authorised for issue on 16 December 2025 and were signed on its behalf by:

Mrs S Grewal - Director

1.	STATUTORY INFORMATION

Asgro 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

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

Tangible fixed assets

Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life or, if held under a finance lease, over the lease term, whichever is the shorter.

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.

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 profit or loss over the relevant period. The capital element of the future payments is treated as a liability.

Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease.

Pension costs and other post-retirement benefits

The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 2 (2024 - 2 ) .

4.	TANGIBLE FIXED ASSETS

Motor

vehicles

£

COST

At 1 April 2024

44,990

Additions

110,534

Disposals

(44,990

)

At 31 March 2025

110,534

DEPRECIATION

At 1 April 2024

19,682

Charge for year

27,633

Eliminated on disposal

(19,682

)

At 31 March 2025

27,633

NET BOOK VALUE

At 31 March 2025

82,901

At 31 March 2024

25,308

Fixed assets, included in the above, which are held under hire purchase contracts are as follows:

Motor

vehicles

£

COST

Additions

110,534

At 31 March 2025

110,534

DEPRECIATION

Charge for year

27,633

At 31 March 2025

27,633

NET BOOK VALUE

At 31 March 2025

82,901

5.	FIXED ASSET INVESTMENTS

Other

investments

£

COST

At 1 April 2024

and 31 March 2025

1

NET BOOK VALUE

At 31 March 2025

1

At 31 March 2024

1

6.	INVESTMENT PROPERTY

Total

£

FAIR VALUE

At 1 April 2024

7,515,000

Additions

967,174

Disposals

(277,679

)

At 31 March 2025

8,204,495

NET BOOK VALUE

At 31 March 2025

8,204,495

At 31 March 2024

7,515,000

Fair value at 31 March 2025 is represented by:

£

Valuation in 2024

2,377,336

Cost

5,827,159

8,204,495

If investment property had not been revalued it would have been included at the following historical cost:

31/3/25

31/3/24

£

£

Cost

5,827,159

5,137,664

Aggregate depreciation

(157,767

)

(94,201

)

Investment property was valued on an open market basis on 31 March 2024 by the directors .

7.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31/3/25

31/3/24

£

£

Trade debtors

-

1,767

Other debtors

430,607

622,346

430,607

624,113

8.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31/3/25

31/3/24

£

£

Bank loans and overdrafts

10,000

10,000

Hire purchase contracts (see note 10)

9,511

5,028

Trade creditors

30,429

7,040

Taxation and social security

1,399

545

Other creditors

1,078,655

1,451,118

1,129,994

1,473,731

9.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

31/3/25

31/3/24

£

£

Bank loans

1,664

11,664

Hire purchase contracts (see note 10)

76,999

32,301

Other creditors

4,712,161

3,623,902

4,790,824

3,667,867

31/3/25

31/3/24

£

£

Amounts falling due in more than five years:

Repayable by instalments

Other loans more 5yrs instal

4,110,908

3,216,063

10.	LEASING AGREEMENTS

Minimum lease payments fall due as follows:

Hire purchase

contracts

31/3/25

31/3/24

£

£

Net obligations repayable:

Within one year

9,511

5,028

Between one and five years

76,999

32,301

86,510

37,329

Non-cancellable

operating leases

31/3/25

31/3/24

£

£

Within one year

5,433

-

Between one and five years

8,134

-

13,567

-

11.	OTHER FINANCIAL COMMITMENTS

Security has been provided by the company against its investment properties, to the extent of any borrowings.