Company registration number 10863119 (England and Wales)
ASGW REAL ESTATE LIMITED
UNAUDITED FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2025
PAGES FOR FILING WITH REGISTRAR
ASGW REAL ESTATE LIMITED
CONTENTS
Page
Balance sheet
1 - 2
Statement of changes in equity
3
Notes to the financial statements
4 - 8
ASGW REAL ESTATE LIMITED
BALANCE SHEET
AS AT 31 MARCH 2025
31 March 2025
- 1 -
2025
2024
Notes
€
€
€
€
Fixed assets
Investment property
3
1,400,000
1,400,000
Current assets
Debtors
4
165,000
142,574
Cash at bank and in hand
52,456
24,339
217,456
166,913
Creditors: amounts falling due within one year
5
(550,313)
(367,151)
Net current liabilities
(332,857)
(200,238)
Total assets less current liabilities
1,067,143
1,199,762
Creditors: amounts falling due after more than one year
6
(185,879)
(267,605)
Provisions for liabilities
8
(50,000)
(50,000)
Net assets
831,264
882,157
Capital and reserves
Called up share capital
9
10,000
10,000
Other reserves
150,000
150,000
Profit and loss reserves
10
671,264
722,157
Total equity
831,264
882,157
ASGW REAL ESTATE LIMITED
BALANCE SHEET (CONTINUED)
AS AT 31 MARCH 2025
31 March 2025
- 2 -

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.

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

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.

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

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

The financial statements were approved by the board of directors and authorised for issue on 31 March 2026 and are signed on its behalf by:
Apadana Management Limited
Director
Company registration number 10863119 (England and Wales)
ASGW REAL ESTATE LIMITED
STATEMENT OF CHANGES IN EQUITY
FOR THE YEAR ENDED 31 MARCH 2025
- 3 -
Share capital
Non-distributable reserves
Profit and loss reserves
Total
€
€
€
€
Balance at 1 April 2023
10,000
150,000
650,215
810,215
Year ended 31 March 2024:
Profit for the year
-
-
71,942
71,942
Balance at 31 March 2024
10,000
150,000
722,157
882,157
Year ended 31 March 2025:
Loss for the year
-
-
(50,893)
(50,893)
Balance at 31 March 2025
10,000
150,000
671,264
831,264
ASGW REAL ESTATE LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2025
- 4 -
1
Accounting policies
Company information

ASGW Real Estate Limited is a private company limited by shares incorporated in England and Wales. The registered office is c/o A2e Industries Limited, No 1 Marsden Street, Manchester, M2 1HW.

1.1
Basis of preparation

These financial statements have been prepared in accordance with 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 disclosure requirements of section 1A of FRS 102 have been applied other than where additional disclosure is required to show a true and fair view.

The financial statements are prepared in Euros, which is the functional currency of the company. Monetary a mounts in these financial statements are rounded to the nearest €.

The financial statements have been prepared under the historical cost convention, modified to include investment properties at fair value. The principal accounting policies adopted are set out below.

1.2
Revenue

Turnover is recognised at the fair value of the consideration received or receivable for rental services provided in the normal course of business,

1.3
Investment property

Investment property, which is property held to earn rentals and/or for capital appreciation, is initially recognised at cost, which includes the purchase cost and any directly attributable expenditure. Subsequently it is measured at fair value a t the reporting end date. Changes in fair value are recognised in profit or loss.

1.4
Cash and cash equivalents

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

1.5
Financial instruments

The company has elected to apply the provisions of Section 11 ‘Basic Financial Instruments’ of FRS 102 to all of its financial instruments.

Financial instruments are recognised in the company's balance sheet when the company becomes party to the contractual provisions of the instrument.

Financial assets and liabilities are offset, with the net amounts presented in the financial statements, when there is a legally enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously.

Basic financial assets

Basic financial assets, which include debtors and cash and bank balances, are initially measured at transaction price including transaction costs and are subsequently carried at amortised cost using the effective interest method unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest. Financial assets classified as receivable within one year are not amortised.

Classification of financial liabilities

Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instrument is any contract that evidences a residual interest in the assets of the company after deducting all of its liabilities.

ASGW REAL ESTATE LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2025
1
Accounting policies
(Continued)
- 5 -
Basic financial liabilities

Basic financial liabilities, including creditors and bank loans, are initially recognised at transaction price unless the arrangement constitutes a financing transaction, where the debt instrument is measured at the present value of the future paymen ts discounted at a market rate of interest. Financial liabilities classified as payable within one year are not amortised.

Debt instruments are subsequently carried at amortised cost, using the effective interest rate method.

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. A m ounts payable are classified as current liabilities if payment is due within one year or less. If not, they are presented as non-current liabilities. Trade creditors are recognised initially at transaction price and subsequently measured at amortised cost using the effective interest method.

1.6
Equity instruments

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.

1.7
Taxation

The tax expense represents the sum of the tax currently payable and deferred tax.

Current tax

The tax currently payable is based on taxable profit for the year. Taxable profit differs from net profit as reported in the profit and loss account because it excludes items of income or expense that are taxable or deductible in other years and it further excludes items that are never taxable or deductible. The company’s liability for current tax is calculated using tax rates that have been enacted or substantively enacted by the reporting end date.

Deferred tax

Deferred tax liabilities are generally recognised for all timing differences and deferred tax assets are recognised to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits. Such assets and liabilities are not recognised if the timing difference arises from goodwill or from the initial recognition of other assets and liabilities in a transaction that affects neither the tax profit nor the accounting profit.

The carrying amount of deferred tax assets is reviewed at each reporting end date and reduced to the extent that it is no longer probable that sufficient taxable profits will be available to allow all or part of the asset to be recovered. Deferred tax is calculated at the tax rates that are expected to apply in the period when the liability is settled or the asset is realised. Deferred tax is charged or credited in the profit and loss account, except when it relates to items charged or credited directly to equity, in which case the deferred tax is also dealt with in equity. Deferred tax assets and liabilities are offset when the company has a legally enforceable right to offset current tax assets and liabilities and the deferred tax assets and liabilities relate to taxes levied by the same tax authority.

1.8
Employee benefits

The costs of short-term employee benefits are recognised as a liability and an expense, unless those costs are required to be recognised as part of the cost of stock or fixed assets.

1.9
Retirement benefits

Payments to defined contribution retirement benefit schemes are charged as an expense as they fall due.

ASGW REAL ESTATE LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2025
1
Accounting policies
(Continued)
- 6 -
1.10
Foreign exchange

Transactions in currencies other than Euros are recorded at the rates of exchange prevailing at the dates of the transactions. At each reporting end date, monetary assets and liabilities that are denominated in foreign currencies are retranslated at the rates prevailing on the reporting end date. Gains and losses arising on translation in the period are included in profit or loss.

2
Employees

The average monthly number of persons (including directors) employed by the company during the year was:

2025
2024
Number
Number
Total
1
1
3
Investment property
2025
€
Fair value
At 1 April 2024 and 31 March 2025
1,400,000

Investment property comprises r eal esta te held for the purpose of rental income from third parties. The fair value of the investment property has been arrived at on the basis of a n agreed valuation between all shareholders and directors based on valuations provided by chartered surveyors.

4
Debtors
2025
2024
Amounts falling due within one year:
€
€
Trade debtors
50,000
27,574
Amounts owed by group undertakings
115,000
115,000
165,000
142,574
5
Creditors: amounts falling due within one year
2025
2024
€
€
Other borrowings
7
236,242
66,000
Trade creditors
-
0
20,023
Corporation tax
20,525
52,082
Other creditors
14,046
14,046
Accruals and deferred income
279,500
215,000
550,313
367,151
ASGW REAL ESTATE LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2025
- 7 -
6
Creditors: amounts falling due after more than one year
2025
2024
Notes
€
€
Other borrowings
7
-
0
27,323
Other creditors
185,879
240,282
185,879
267,605
7
Loans and overdrafts
2025
2024
€
€
Other loans
236,242
93,323
Payable within one year
236,242
66,000
Payable after one year
-
0
27,323

The long-term loans are secured by fixed charges over the investment property.

8
Provisions for liabilities
2025
2024
€
€
Deferred tax liabilities
50,000
50,000
9
Called up share capital
2025
2024
2025
2024
Ordinary share capital
Number
Number
€
€
Issued and fully paid
Ordinary A of €1 each
7,000
7,000
7,000
7,000
Ordinary B of €1 each
3,000
3,000
3,000
3,000
10,000
10,000
10,000
10,000
10
Profit and loss reserves
2025
2024
€
€
At the beginning of the year
722,157
650,215
Adjusted balance
722,157
650,215
(Loss)/profit for the year
(50,893)
71,942
At the end of the year
671,264
722,157
ASGW REAL ESTATE LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2025
10
Profit and loss reserves
(Continued)
- 8 -

Other reserves consist of non-distributable profits on the increase in fair value of the investment property, net of deferred tax.

11
Related party transactions
Transactions with related parties

During the year the company entered into the following transactions with related parties:

Sales
Purchases
2025
2024
2025
2024
€
€
€
€
Entities under common control and directorship
200,000
200,000
60,000
204,000

The following amounts were outstanding at the reporting end date:

2025
2024
Amounts due to related parties
€
€
Entities under common control and directorship
500,242
297,323

At the balance sheet date, the company owed €500,242 (202 4: €2 97,323) to A2E Industries Limited, a related party by virtue of common control and directorship. A2E Industries Limited recharged total expenses of €215,757 (2024: €nil) to the company in the year.

During the year, the company made sales of €200,000 (202 4: €2 00,000) to Ludolph Bremerhaven GmbH. At the balance sheet date, €50,000 (202 4: €27,574) was outstanding from Ludolph Bremerhaven GmbH.

2025
2024
Amounts due from related parties
€
€
Entities under common control and directorship
224,018
224,018

At the balance sheet date, the company was owed €59,897 (202 4: €59,897) from Aero Services.Global Limited.

At the balance sheet date, the company was owed €49,121 (202 4: €49,121) from ASG Investment 7 Limited.

At the balance sheet date, the company was owed €115,000 (2024: €115,000) from AW R eal Estate Limited.

All of the above are related parties by virtue of common control and directorship.

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