| ASCOE Properties Ltd |
| Notes to the Accounts |
| for the year ended 31 January 2026 |
|
| 1 |
Accounting policies |
|
|
Basis of preparation |
|
The accounts have been prepared under the historical cost convention and in accordance with FRS 102, The Financial Reporting Standard applicable in the UK and Republic of Ireland (as applied to small entities by section 1A of the standard). |
|
|
Turnover |
|
Turnover represents net invoiced sales, excluding VAT, and including Work In Progress. |
|
|
Rental income |
|
Rent represents the amount receivable by the company for property letting. |
|
|
Tangible fixed assets |
|
Tangible fixed assets are measured at cost less accumulative depreciation and any accumulative impairment losses. Depreciation is provided on all tangible fixed assets, other than freehold land, at rates calculated to write off the cost, less estimated residual value, of each asset evenly over its expected useful life, as follows: |
|
|
Invesment properties |
Not provided |
|
Plant and machinery |
10% written down value |
|
Investment properties are shown at cost |
|
|
Stocks and work in progress |
|
Stocks are measured at the lower of cost and estimated selling price less costs to complete and sell. |
|
|
Debtors |
|
Short term debtors are measured at transaction price (which is usually the invoice price), less any impairment losses for bad and doubtful debts. Loans and other financial assets are initially recognised at transaction price including any transaction costs and subsequently measured at amortised cost determined using the effective interest method, less any impairment losses for bad and doubtful debts. |
|
|
Creditors |
|
Short term creditors are measured at transaction price (which is usually the invoice price). Loans and other financial liabilities are initially recognised at transaction price net of any transaction costs and subsequently measured at amortised cost determined using the effective interest method. |
|
Taxation |
|
A current tax liability is recognised for the tax payable on the taxable profit of the current and past periods. A current tax asset is recognised in respect of a tax loss that can be carried back to recover tax paid in a previous period. Deferred tax is recognised in respect of all timing differences between the recognition of income and expenses in the financial statements and their inclusion in tax assessments. Unrelieved tax losses and other deferred tax assets are recognised only to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date and that are expected to apply to the reversal of the timing difference, except for revalued land and investment property where the tax rate that applies to the sale of the asset is used. Current and deferred tax assets and liabilities are not discounted. |
|
|
| 2 |
Operating profit |
2026 |
|
2025 |
|
| £ |
£ |
|
This is stated after charging: |
|
|
Professional fees |
2,657 |
|
103,112 |
|
|
|
|
|
|
|
|
|
|
| 3 |
Wages and NI |
|
|
Gross wages |
131,852 |
|
117,353 |
|
Employer's NI |
4,664 |
|
5,730 |
|
|
|
|
|
|
136,516 |
|
123,083 |
|
|
|
|
|
|
|
|
|
|
The average number of employees during the year was: |
4 |
|
4 |
|
|
|
|
|
|
|
|
|
| 4 |
Taxation |
2026 |
|
2025 |
| £ |
£ |
|
|
UK corporation tax charge/(refund) at 25% |
124,677 |
|
122,410 |
|
Prior year adjustment |
531 |
|
- |
|
|
|
|
|
|
125,208 |
|
122,410 |
|
|
|
|
|
|
|
|
|
|
| 5 |
Tangible fixed assets |
|
|
Land and buildings |
|
Plant and machinery |
|
Investment properties |
|
Total |
| £ |
£ |
£ |
£ |
|
Cost |
|
At 1 February 2025 |
- |
|
17,390 |
|
2,451,909 |
|
2,469,299 |
|
Additions |
- |
|
2,668 |
|
- |
|
2,668 |
|
Disposals |
- |
|
- |
|
- |
|
- |
|
At 31 January 2026 |
- |
|
20,058 |
|
2,451,909 |
|
2,471,967 |
|
|
|
|
|
|
|
|
|
|
Depreciation |
|
At 1 February 2025 |
- |
|
10,654 |
|
- |
|
10,654 |
|
Charge for the year |
- |
|
941 |
|
- |
|
941 |
|
On disposals |
- |
|
- |
|
- |
|
- |
|
At 31 January 2026 |
- |
|
11,595 |
|
- |
|
11,595 |
|
|
|
|
|
|
|
|
|
|
Net book value |
|
At 31 January 2026 |
- |
|
8,463 |
|
2,451,909 |
|
2,460,372 |
|
At 31 January 2025 |
- |
|
6,736 |
|
2,451,909 |
|
2,458,645 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| 6 |
Debtors |
2026 |
|
2025 |
| £ |
£ |
|
|
Loan facilities to unconnected companies. |
|
|
|
5,772,014 |
|
1,599,104 |
|
Other debtors |
3,159 |
|
2,831 |
|
|
|
|
|
|
5,775,173 |
|
1,601,935 |
|
|
|
|
|
|
|
|
|
|
Amounts due after more than one year included above |
5,772,014 |
|
1,599,104 |
|
|
|
|
|
|
|
|
|
|
The loans attracts interest at 8% and 8.5%. |
|
|
| 7 |
Creditors: amounts falling due within one year |
2026 |
|
2025 |
| £ |
£ |
|
|
Corporation tax |
124,677 |
|
122,310 |
|
Deferred income |
74,344 |
|
67,624 |
|
Other creditors |
10,995 |
|
12,092 |
|
|
|
|
|
|
210,016 |
|
202,026 |
|
|
|
|
|
|
|
|
|
|
| 8 |
Creditors: amounts falling due after one year |
2026 |
|
2025 |
| £ |
£ |
|
|
Shareholders' loan |
11,659,580 |
|
8,659,580 |
|
Directors' loan |
239,358 |
|
267,962 |
|
|
|
|
|
|
11,898,938 |
|
8,927,542 |
|
|
|
|
|
|
|
|
|
|
The directors' loan and the shareholders' loan are interest free and repayable in one year and one day. The amounts have not been discounted as the effects of discounting are immaterial to the accounts. |
|
|
| 9 |
Share capital |
Nominal |
|
2026 |
|
2026 |
|
2025 |
| value |
Number |
£ |
£ |
|
Allotted, called up and fully paid: |
|
Ordinary shares |
£1 each |
|
99 |
|
99 |
|
99 |
|
|
|
|
|
|
|
|
|
|
| 10 |
Profit and loss account |
2026 |
|
2025 |
| £ |
£ |
|
|
At 1 February 2025 |
(1,114,423) |
|
(1,482,065) |
|
Profit for the year |
376,177 |
|
367,642 |
|
|
At 31 January 2026 |
(738,246) |
|
(1,114,423) |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| 11 |
Loans |
2026 |
|
2025 |
| £ |
£ |
|
Creditors include: |
|
Amounts falling due for payment within 2 to 5 years |
11,898,938 |
|
8,927,542 |
|
Amounts falling due for paymentin more than 5 years |
- |
|
- |
|
|
|
|
|
|
11,898,938 |
|
8,927,542 |
|
|
|
|
|
|
|
|
|
|
| 12 |
Related party transactions |
|
|
Mr A Burke and Mrs S Burke |
|
Directors |
|
The directors have loaned funds to the company. |
|
Amount due to the related party |
239,358 |
|
267,962 |
|
|
|
|
|
|
|
|
|
|
Mr C Burke, Miss O Burke and Miss E Burke |
|
Shareholders |
|
The shareholders have loaned funds to the company. |
|
Amount due to the related party |
11,659,580 |
|
8,659,580 |
|
|
|
|
|
|
|
|
|
|
At 31st January 2019, the directors gifted a loan of £7,659,580 to the company to the shareholders Mr C Burke, Miss O Burke and Miss E Burke.
At 31st January 2024, the directors gifted an additional £1,000,000 of their loan to the company to the shareholders Mr C Burke, Miss O Burke and Miss E Burke.
At 31st January 2026, the shareholders had loaned an additional £3,000,000 to the company, being £1,000,000 each. |
|
|
Vine Meats Ltd |
|
Company under same directorship as ASCOE Properties Ltd. |
|
|
ASCOE Properties Ltd is the landlord for the related party. |
|
Rent charged to related party on commercial basis |
117,377 |
|
107,416 |
|
|
|
|
|
|
|
|
|
|
| 13 |
Other information |
|
|
ASCOE Properties Ltd is a private company limited by shares and incorporated in England. Its registered office and princiapl place of business is: |
|
|
Hall Place |
|
Stone Street |
|
Seal |
|
Sevenoaks |
|
Kent TN15 0LG |
|
|
| 14 |
Presentation currency |
|
|
The accounts are presented in British Pounds Sterling. |
|
| 15 |
Controlling party |
|
|
The company is controlled by its members. No one person or entity has a controlling stake in the company. |