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Registered number: 00574978
ASHTONIA INVESTMENTS LIMITED
UNAUDITED
FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2026
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ASHTONIA INVESTMENTS LIMITED
REGISTERED NUMBER: 00574978
STATEMENT OF FINANCIAL POSITION
AS AT 31 MARCH 2026
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Creditors: amounts falling due within one year
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Total assets less current liabilities
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Creditors: amounts falling due after more than one year
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Provisions for liabilities
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ASHTONIA INVESTMENTS LIMITED
REGISTERED NUMBER: 00574978
STATEMENT OF FINANCIAL POSITION (CONTINUED)
AS AT 31 MARCH 2026
The directors consider that the Company is entitled to exemption from audit under section 477 of the Companies Act 2006 and members have not required the Company to obtain an audit for the year in question in accordance with section 476 of the Companies Act 2006.
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.
The financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies regime and in accordance with the provisions of FRS 102 Section 1A - small entities.
The financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime.
The Company has opted not to file the statement of comprehensive income in accordance with provisions applicable to companies subject to the small companies' regime.
The financial statements were approved and authorised for issue by the board and were signed on its behalf by:
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P A O'Higgins
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The notes on pages 4 to 12 form part of these financial statements.
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ASHTONIA INVESTMENTS LIMITED
STATEMENT OF CHANGES IN EQUITY
FOR THE YEAR ENDED 31 MARCH 2026
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Comprehensive income for the year
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At 1 April 2025 (as previously stated)
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Prior year adjustment - correction of error
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At 1 April 2025 (as restated)
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Comprehensive income for the year
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The notes on pages 4 to 12 form part of these financial statements.
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ASHTONIA INVESTMENTS LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2026
Ashtonia Investments Limited is a private company, limited by shares, registered in England and Wales registration number 00574978. The registered office is 10 Queen Street Place, London, EC4R 1AG. The trading address is Cliveden House, 26-29 Cliveden Place, London, SW1W 8HD.
The principal activity of the company is that of property investment.
The functional and presentation currency is £ sterling.
2.Accounting policies
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Basis of preparation of financial statements
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The financial statements have been prepared under the historical cost convention unless otherwise specified within these accounting policies and in accordance with Financial Reporting Standard 102, the Financial Reporting Standard applicable in the UK and the Republic of Ireland and the Companies Act 2006. 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 following principal accounting policies have been applied:
The directors have reviewed the company's liabilities over the next 12 months and considers the business to be a going concern. They will continue to support the company as required along with steps taken by management to ensure that all financial commitments can be met when they fall due.
Revenue is recognised to the extent that it is probable that the economic benefits will flow to the Company and the revenue can be reliably measured. Revenue comprises rent and is measured as the fair value of the consideration received or receivable.
Tangible fixed assets under the cost model are stated at historical cost less accumulated depreciation and any accumulated impairment losses. Historical cost includes expenditure that is directly attributable to bringing the asset to the location and condition necessary for it to be capable of operating in the manner intended by management.
Depreciation is charged so as to allocate the cost of assets less their residual value over their estimated useful lives, as follows..
Depreciation is provided on the following basis:
The assets' residual values, useful lives and depreciation methods are reviewed, and adjusted prospectively if appropriate, or if there is an indication of a significant change since the last reporting date.
Gains and losses on disposals are determined by comparing the proceeds with the carrying amount and are recognised in profit or loss.
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ASHTONIA INVESTMENTS LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2026
2.Accounting policies (continued)
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, 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 profit or loss.
Short term debtors are measured at transaction price, less any impairment.
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Cash and cash equivalents
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Cash is represented by cash in hand and deposits with financial institutions repayable without penalty on notice of not more than 24 hours.
The Company only enters into basic financial instruments transactions that result in the recognition of financial assets and liabilities like trade and other debtors and creditors, and loans from banks and other third parties.
Short term creditors are measured at the transaction price.
Finance costs are charged to profit or loss over the term of the debt using the effective interest method so that the amount charged is at a constant rate on the carrying amount. Issue costs are initially recognised as a reduction in the proceeds of the associated capital instrument.
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Operating leases: the Company as lessee
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Rentals paid under operating leases are charged to profit or loss on a straight-line basis over the lease term.
Defined contribution pension plan
The Company operates a defined contribution plan for its employees. A defined contribution plan is a pension plan under which the Company pays fixed contributions into a separate entity. Once the contributions have been paid the Company has no further payment obligations.
The contributions are recognised as an expense in profit or loss when they fall due. Amounts not paid are shown in accruals as a liability in the Statement of Financial Position. The assets of the plan are held separately from the Company in independently administered funds.
Interest income is recognised in profit or loss using the effective interest method.
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ASHTONIA INVESTMENTS LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2026
2.Accounting policies (continued)
All borrowing costs are recognised in profit or loss in the year in which they are incurred.
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Current and deferred taxation
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The tax expense for the year comprises current and deferred tax. Tax is recognised in profit or loss except that a charge attributable to an item of income and expense recognised as other comprehensive income or to an item recognised directly in equity is also recognised in other comprehensive income or directly in equity respectively.
The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the reporting date in the countries where the Company operates and generates income.
Deferred tax balances are recognised in respect of all timing differences that have originated but not reversed by the reporting date, except that:
∙The recognition of deferred tax assets is limited to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits; and
∙Any deferred tax balances are reversed if and when all conditions for retaining associated tax allowances have been met.
Deferred tax balances are not recognised in respect of permanent differences except in respect of business combinations, when deferred tax is recognised on the differences between the fair values of assets acquired and the future tax deductions available for them and the differences between the fair values of liabilities acquired and the amount that will be assessed for tax. Deferred tax is determined using tax rates and laws that have been enacted or substantively enacted by the reporting date.
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The average monthly number of employees, including directors, during the year was 6 (2025 - 6).
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ASHTONIA INVESTMENTS LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2026
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ASHTONIA INVESTMENTS LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2026
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Freehold investment property
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Long term leasehold investment property
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At 1 April 2025 (as previously stated)
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At 1 April 2025 (as restated)
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Transfers between classes
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The 2026 valuations were made by Savills, on an open market value basis.
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If the Investment properties had been accounted for under the historic cost accounting rules, the properties would have been measured as follows:
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Prepayments and accrued income
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ASHTONIA INVESTMENTS LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2026
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Creditors: Amounts falling due within one year
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Other taxation and social security
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Accruals and deferred income
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Creditors: Amounts falling due after more than one year
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ASHTONIA INVESTMENTS LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2026
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Analysis of the maturity of loans is given below:
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Amounts falling due within one year
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Amounts falling due 1-2 years
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During the year the company has a secured bank loan facility, the loan was advanced to support the acquisition of property and is repayable in full within 24 months of initial drawdown.
The loan is secured on the company’s property and supported by personal guarantees. The facility is repayable within two years and bears interest at a variable rate, with interest capitalised and payable on maturity.
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ASHTONIA INVESTMENTS LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2026
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Charged to profit or loss
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The provision for deferred taxation is made up as follows:
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Losses and other deductions
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During the year ended 31 March 2025, legal fees of £54,736 were recognised within administrative expenses in the Statement of Income. Subsequent review identified that these costs were directly attributable to the renewal of the lease and the acquisition of the freehold property, which completed on 3 March 2026. In accordance with FRS 102, these costs should have been capitalised as part of the cost of the property.
Accordingly, a prior year adjustment has been made to correct the treatment of these costs. As a result, investment property at 31 March 2025 has increased by £54,736 and administrative expenses for the year ended 31 March 2025 have decreased by £54,736. The associated deferred tax liability decreased by £140,221, resulting in an increase in retained earnings and net assets of £194,957. Comparative amounts have been restated accordingly.
The Company operates a defined contributions pension scheme. The assets of the scheme are held separately from those of the Company in an independently administered fund. The pension cost charge represents contributions payable by the Company to the fund and amounted to £525 (2025: £519). £23 (2025: £11) were payable to the fund at the reporting date.
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ASHTONIA INVESTMENTS LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2026
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Related party transactions
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The company has a loan from a trust connected to the shareholders of the company. The balance outstanding at the year end was £366,099 (2025: £366,099). The loan is repayable on demand with three months’ notice and bears interest at 15% per annum.
The company has a loan from a related party. The balance outstanding at the year end was £133,569 (2025: £Nil). The loan is interest-free and is repayable on demand.
The company has a loan from a related party. The balance outstanding at the year end was £87,500 (2025: £87,500). The loan became interest-free from 30 September 2025 (previously 5% per annum) and is repayable on demand. All interest accrued to the date of variation has been settled.
The company has a loan from a related party. The balance outstanding at the year end was £100,000 (2025: £100,000). The loan is interest-free and is repayable on demand.
The company has a loan from a life interest settlement connected to the shareholders. The balance outstanding at the year end was £180,000 (2025: £180,000). The loan is interest-free and is repayable on demand with three months’ notice.
The company has a loan from related parties. The balance outstanding at the year end was £253,796 (2025: £nil). The loan bears interest at 6% per annum and is repayable on demand with one year’s notice.
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Post balance sheet events
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Subsequent to the year end, the shareholders have received an offer for the purchase of 100% of the issued share capital of the Company for consideration of £15,000,000. The proposed transaction is structured as a share sale of the Company, which holds the freehold property at Cliveden Place, Belgravia.
As at the date of approval of these financial statements, the offer remains subject to contract and due diligence, and contracts have not yet been exchanged. Completion is anticipated to take place following exchange, with a target completion date currently expected to be in late 2026.
As this event arose after the reporting date and does not provide evidence of conditions existing at the balance sheet date, no adjustment has been made to the amounts recognised in these financial statements.
The company is controlled by its directors.
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