1.
General Information
Ascot Hyde Ltd
is a private company, limited by shares, incorporated in England & Wales, registered number
16256279
. The registered office is Ascot House, Welcroft Street, Stockport, Cheshire, SK1 3DF.
2.
Accounting Policies
2.1.
Basis of Preparation of Financial Statements
The financial statements have been prepared under the historical cost convention and in accordance with Financial Reporting Standard 102 section 1A Small Entities "The Financial Reporting Standard applicable in the UK and Republic of Ireland" and the Companies Act 2006.
2.2.
Turnover
Turnover represents rental income receivable from investment properties during the year, net of any rent-free periods, incentives and amounts received on behalf of third parties. Rental income is recognised on a straight-line basis over the period to which it relates.
2.3.
Investment Properties
All investment properties are carried at fair value determined annually 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 for. Changes in fair value are recognised in the profit and loss account.
2.4.
Stocks and Work in Progress
Work in progress comprises land and property held for development and subsequent resale and is stated at the lower of cost and estimated net realisable value.
Cost includes the cost of acquiring the land together with directly attributable development expenditure, including professional fees, planning costs, construction costs and other expenditure incurred in bringing the development to its present condition.
Net realisable value represents the estimated selling price in the ordinary course of business, less estimated costs to completion and costs necessary to make the sale.
Where the estimated net realisable value of a development is lower than its carrying value, an appropriate provision is made and the resulting write-down is recognised in the profit and loss account.
2.5.
Taxation
Income 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 profit as reported in the statement of comprehensive income because of items of income or expense that are taxable or deductible in other years and 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 end of the reporting period.
Deferred tax is recognised on timing differences between the carrying amounts of assets and liabilities in the financial statements and the corresponding tax bases used in the computation of taxable profit. Deferred tax liabilities are generally recognised for all taxable timing differences. Deferred tax assets are generally recognised for all deductible temporary differences to the extent that it is probable that taxable profits will be available against which those deductible timing differences can be utilised. The carrying amount of deferred tax assets is reviewed at the end of each reporting period 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 assets and liabilities are measured at the tax rates that are expected to apply in the period in which the liability is settled or the asset realised, based on tax rates (and tax laws) that have been enacted or substantively enacted by the end of the reporting period. Deferred tax liabilities are presented within provisions for liabilities and deferred tax assets within debtors. The measurement of deferred tax liabilities and assets reflect the tax consequences that would follow from the manner in which the Company expects, at the end of the reporting period, to recover or settle the carrying amount of its assets and liabilities.
Current and deferred tax are recognised in profit or loss for the period, except when they relate to items that are recognised in other comprehensive income or directly in equity, in which case current and deferred tax are recognised in other comprehensive income or directly in equity respectively.
Ascot Hyde Ltd
Notes to the Financial Statements (continued)
For the Period 17 February 2025 to 28 February 2026
3.
Average Number of Employees
Average number of employees, including directors, during the period was: 4
4.
Investment Property
| 28 February 2026 | |
|---|---|
| £ | |
| Fair Value | |
| As at 17 February 2025 |
|
| Transfers |
|
| As at 28 February 2026 |
|
If investment property had been accounted for under historical cost accounting rules, the amounts would be:
| 28 February 2026 | |
|---|---|
| £ | |
| Cost | 775,000 |
5.
Stocks
| 28 February 2026 | |
|---|---|
| £ | |
| Work in progress |
|
Work in progress comprises the following:
|
2026
|
||
|
£
|
||
|
Land and property held for development and resale
|
420,000
|
|
|
Development costs and work in progress
|
486,712
|
|
![1](data:image/svg+xml;utf8,<svg xmlns="http://www.w3.org/2000/svg" viewBox="0 0 80 2" preserveAspectRatio="none"> <line x1="0" y1="1" x2="80" y2="1" stroke="black" shape-rendering="crispEdges"/> </svg>){kind=small} 906,712 |
||
![1](data:image/svg+xml;utf8,<svg xmlns="http://www.w3.org/2000/svg" viewBox="0 0 80 5" preserveAspectRatio="none"> <line x1="0" y1="1" x2="80" y2="1" stroke="black" shape-rendering="crispEdges"/> <line x1="0" y1="4" x2="80" y2="4" stroke="black" shape-rendering="crispEdges"/> </svg>){kind=small}
|
6.
Debtors
| 28 February 2026 | |
|---|---|
| £ | |
| Due within one year | |
| Other debtors | 49,260 |
Ascot Hyde Ltd
Notes to the Financial Statements (continued)
For the Period 17 February 2025 to 28 February 2026
7.
Creditors: Amounts Falling Due Within One Year
| 28 February 2026 | |
|---|---|
| £ | |
| Trade creditors |
|
| Amounts owed to participating interests |
|
| Other creditors | 800,036 |
| Taxation and social security |
|
|
|
|
9.
Related Party Transactions
During the year the company received loans of £50,000 each from Gurav Patel and Pooja Patel, close family relations of the director Mr Subhash Patel.
10.
Ultimate Controlling Party
The company's ultimate controlling parties are Nitin Sethi and Neerja Sethi by virtue of their ownership of 60% of the issued share capital in the company, and their controlling interest in Ascot Group Limited.