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

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

The director acknowledges his 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 director of the company has elected not to include a copy of the profit and loss account within the financial statements.true

ASK London Limited is a private company limited by shares incorporated in England and Wales. The registered office is 86-90 Paul Street, London, EC2A 4NE.

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 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, modified to include the revaluation of freehold properties and to include investment properties and certain financial instruments at fair value. The principal accounting policies adopted are set out below.

An error has been identified in the prior year figures, where back in the 31 October 2020 financial statements a deposit paid by the company relating to an investment property was not correctly recorded to property investment additions, instead being wrongly allocated against the director loan account. This has therefore been corrected in the 2024 comparative figures, with £34,750 reclassified from director loans to the revaluation reserves, to be offset against revaluation gains at that date. In addition the deferred tax on the revaluation gains has been corrected, with an adjustment of £8,687 made. While this adjustment has no impact on the profit and loss figures for either 2024 or 2025, it does impact the brought forward revaluation reserve position at 1 November 2023, resulting in a reduction of £26,063. This therefore reduces the net asset position of the company by £26,063 as well in the comparative figures compared to the amounts that were previously reported.

Atruet the time of approving the financial statements, the director has a reasonable expectation that the company has adequate resources to continue in operational existence for the foreseeable future. Thus the director continues to adopt the going concern basis of accounting in preparing the financial statements.

Turnover comprises gross rental income, earned during the course of the financial year.

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 at the reporting end date. Changes in fair value are recognised in profit or loss.

Cash and cash equivalents are basic financial assets and include cash in hand, deposits held at call with banks, other short-term liquid investments with original maturities of three months or less, and bank overdrafts. Bank overdrafts are shown within borrowings in current liabilities.

The company has elected to apply the provisions of Section 11 ‘Basic Financial Instruments’ and Section 12 ‘Other Financial Instruments Issues’ 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, 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.

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.

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 payments 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. Amounts payable are classified as current liabilities if payment is due within one year or less. If not, they are presented as non-current liabilities.

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.

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

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

Investment property comprises £3,360,000 (2024: £3,210,000). The director has valued the investment properties on an open market basis by reference to market evidence of transaction prices for similar properties as at the 31 October 2025. The director has sought third party advice when making his valuation.

Creditors above include bank loans of £2,741,154 (2024: £2,322,036) relating to the investment properties of the company. These loans consist of £1,442,567 (2024: £nil) owed to E-Money Capital Limited, £nil (2024: £1,023,449) owed to United Trust Bank, £994,567 (2024: £994,567) owed to Paragon Bank PLC and £304,020 (2024: £304,020) owed to Charter Court Financial Services Limited. The bank loans are all secured against the investment property to which the loan relates, plus some personal properties owned by the family of the director.

In addition, creditors also includes £26,313 (2024: £32,055) owed to Lloyd's TSB regarding a coronavirus business bounce back loan.

The following are the major deferred tax liabilities and assets recognised by the company:

Other creditors includes a balance of £319,692 (2024: £319,692) owed to the director on his director loan account.

In addition, the company was owed £52,750 by family members who were also former directors (2024: £234,515 was owed to them).

During the year, the company had rent receivable of £130,800 (2024: £105,600) from ASK Estates Limited, a company in which the director has a controlling interest. £47,558 (2024: £99,400) was owed by ASK Estates Limited to the company as at the year-end.

In addition, as at the year-end, the company owed ASK Estates Limited £nil (2024: £26,470).

The company is controlled by the director, Mr A Komal.