Aask Estates LLP

	Page
Balance Sheet	1—2
Notes to the Financial Statements	3—5

Registered number: OC438753

		31 March 2025		31 March 2024
	Notes	£	£	£	£
FIXED ASSETS
Tangible Assets	4		825		915
Investment Properties	5		1,235,000		856,000

			1,235,825		856,915
Creditors: Amounts Falling Due Within One Year	7	(10,144 )		(3,479 )

NET CURRENT ASSETS (LIABILITIES)			(10,144 )		(3,479 )

TOTAL ASSETS LESS CURRENT LIABILITIES			1,225,681		853,436

Creditors: Amounts Falling Due After More Than One Year	8		(773,800 )		(505,021 )

NET ASSETS ATTRIBUTABLE TO MEMBERS			451,881		348,415

REPRESENTED BY:
Loans and other debts due to members within one year
Members' capital classified as a liability		94,381		4,915

			94,381		4,915

Equity
Members' other interests
Revaluation reserve		357,500		343,500

			357,500		343,500

			451,881		348,415

TOTAL MEMBERS' INTEREST
Loans and other debts due to members within one year			94,381		4,915
Members' other interests			357,500		343,500

			451,881		348,415

Page 1

Page 2

Aask Estates LLP

Balance Sheet (continued)

As At 31 March 2025

For the year ending 31 March 2025 the LLP was entitled to exemption from audit under section 477 of the Companies Act 2006 (as applied by the Limited Liability Partnerships (Accounts and Audit) (Application of Companies Act 2006) Regulations 2008 applicable to LLPs subject to the small LLPs regime.)

The members acknowledge their responsibilities for complying with the requirements of the Act (as applied to LLPs) with respect to accounting records and the preparation of accounts.

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

The LLP has taken advantage of section 444(1) of the Companies Act 2006 and opted not to deliver to the registrar a copy of the LLP's Profit and Loss Account.

On behalf of the members

Khuram Shahid

Designated Member

31st December 2025

The notes on pages 3 to 5 form part of these financial statements.

1. General Information

Aask Estates LLP is a limited liability partnership, incorporated in England & Wales, registered number OC438753 . The Registered Office is 81 Hillesden Avenue, Elstow, Bedford, MK42 9AJ.

2. Accounting Policies

2.1. Basis of Preparation of Financial Statements

The financial statements are prepared under the historical cost convention and in accordance with applicable United Kingdom accounting standards, including Financial Reporting Standard 102 for small limited liability partnerships regime - The Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102), The Statement of Recommended Practice 'Accounting by Limited Liability Partnerships' issued in December 2021 (SORP) and the Companies Act 2006 (as applied to LLPs).

The financial statements are prepared in sterling which is the functional currency of the LLP.

2.2. Turnover

Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover comprises rents receivable.

2.3. Tangible Fixed Assets and Depreciation

Tangible fixed assets are measured at cost less accumulated depreciation and any accumulated impairment losses. Depreciation is provided at rates calculated to write off the cost of the fixed assets, less their estimated residual value, over their expected useful lives on the following bases:

Motor Vehicles	25% Reducing balance
Fixtures & Fittings	33.3% on cost
Computer Equipment	33.3% on cost

Impairment of fixed assets

A review for indicators of impairment is carried out at each reporting date, with the recoverable amount being estimated where such indicators exist. Where the carrying value exceeds the recoverable amount, the asset is impaired accordingly. Prior impairments are also reviewed for possible reversal at each reporting date.

For the purposes of impairment testing, when it is not possible to estimate the recoverable amount of an individual asset, an estimate is made of the recoverable amount of the cash-generating unit to which the asset belongs. The cash-generating unit is the smallest identifiable group of assets that includes the asset and generates cash inflows that are largely independent of the cash inflows from other assets or groups of assets.

For impairment testing of goodwill, the goodwill acquired in a business combination is, from the acquisition date, allocated to each of the cash-generating units that are expected to benefit from the synergies of the combination, irrespective of whether other assets or liabilities of the LLP are assigned to those units.

2.4. Investment Properties

Investment properties are carried at fair value determined annually and derived from the current market rents and investment property yields for comparable assets, 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 profit and loss account.

Investment Properties are initially recorded at cost, and subsequently stated at cost less any accumulated depreciation and impairment losses.

Investment Properties carried at revalued amounts are recorded at the fair value at the date of revaluation less any subsequent accumulated depreciation and subsequent accumulated impairment losses.

An increase in the carrying amount of an Investment Property as a result of a revaluation, is recognised in other comprehensive income and accumulated in equity, except to the extent it reverses a revaluation decrease of the same asset previously recognised in profit or loss.

A decrease in the carrying amount of an asset as a result of revaluation, is recognised in other comprehensive income to the extent of any previously recognised revaluation increase accumulated in equity in respect of that asset. Where a revaluation decrease exceeds the accumulated revaluation gains accumulated in equity in respect of that asset, the excess is recognised in profit or loss.

Page 3

Page 4

Aask Estates LLP

Notes to the Financial Statements (continued)

For The Year Ended 31 March 2025

2.5. Taxation

Tax on the profits of the LLP is assessable on the Members who are also responsible for payment of any liability to HMRC. No provision is therefore made for taxation in the LLP Accounts.

2.6. Members' Participation Rights and Liabilities

Amounts subscribed or otherwise contributed by members, for example members' capital, are classed as equity if the LLP has an unconditional right to refuse payment to members. If the LLP does not have such an unconditional right, such amounts are classified as liabilities.

All amounts due to members that are classified as liabilities are presented in the statement of financial position within 'Loans and other debts due to Members'. Amounts due to members that are classified as equity are shown in the statement of financial position within 'Members' other interests'.

Where profits are automatically divided as they arise, so the LLP does not have an unconditional right to refuse payment, the amounts arising that are due to members are in the nature of liabilities. They are therefore treated as an expense in the statement of comprehensive income in the relevant year. To the extent that they remain unpaid at the year end, they are credited to Members and thereby shown as liabilities in the statement of financial position.

3. Average Number of Employees

Average number of employees, including members with contracts of employment, during the year was: NIL (2024: NIL)

4. Tangible Assets

	Motor Vehicles	Fixtures & Fittings	Computer Equipment	Total
	£	£	£	£
Cost or Valuation
As at 1 April 2024	1,000	1,087	-	2,087
Additions	-	-	564	564

As at 31 March 2025	1,000	1,087	564	2,651

Depreciation
As at 1 April 2024	522	650	-	1,172
Provided during the period	120	362	172	654

As at 31 March 2025	642	1,012	172	1,826

Net Book Value
As at 31 March 2025	358	75	392	825

As at 1 April 2024	478	437	-	915

5. Investment Property

	31 March 2025
	£
Fair Value
As at 1 April 2024	856,000
Additions	365,000
Revaluations	14,000

As at 31 March 2025	1,235,000

Page 4

Page 5

Aask Estates LLP

Notes to the Financial Statements (continued)

For The Year Ended 31 March 2025

If investment property had been accounted for under historical cost accounting rules, but reflecting the value on transfer of the Beneficial Interest to the LLP the amounts would be:

	31 March 2025	31 March 2024
	£	£
Cost	877,500	512,500

7. Creditors: Amounts Falling Due Within One Year

	31 March 2025	31 March 2024
	£	£
Property acquisition loans	5,415	-
Accruals and deferred income	4,729	3,479

	10,144	3,479

8. Creditors: Amounts Falling Due After More Than One Year

	31 March 2025	31 March 2024
	£	£
Property Purchase Loans	773,800	505,021

The loans are secured on the Investment Property and repayable more than five years from the Balance Sheet date.

9. Related Party Transactions

The Investment Properties were initially purchased by the Designated Members.

The title to the properties is held by the Designated Members for the benefit of the LLP.

The Beneficial Interest in a property at a value of £365,000 was transferred by the Members to the LLP during the year.

The Designated Members raised loan finance to purchase the Investment Properties. On transfer of the Beneficial Interest in the Investment Properties to the LLP the LLP is required and obliged to meet the payments and interest costs payable under the terms of the loan agreements.

The LLP Accounts reflect the asset and liability positions set out above.

Page 5