Ashberry Properties (North West) Limited - Accounts to registrar (filleted) - small 18.2

REGISTERED NUMBER: 08090932 (England and Wales)

REPORT OF THE DIRECTORS AND

FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MAY 2020

FOR

ASHBERRY PROPERTIES (NORTH WEST) LIMITED

Page

Company Information

1

Report of the Directors

2

Balance Sheet

3

to

4

Notes to the Financial Statements

5

to

7

DIRECTORS:

Mr J P Ash

Mrs L J Berry

REGISTERED OFFICE:

Britannic House

657 Liverpool Road

Irlam

Manchester

Lancashire

M44 5XD

REGISTERED NUMBER:

08090932 (England and Wales)

ACCOUNTANTS:

Cadishead Accountancy Services Limited

Britannic House

657 Liverpool Road

Irlam

Manchester

Lancashire

M44 5XD

BANKERS:

Lloyds TSB

53 King Street

Manchester

M2 4LQ

The directors present their report with the financial statements of the company for the year ended 31 May 2020.

PRINCIPAL ACTIVITY

The principal activity of the company in the year under review was that of the letting of residential property.

DIRECTORS

The directors set out in the table below have held office during the whole of the period from 1 June 2019 to the date of this report.

The beneficial interests of the directors holding office at 31 May 2020 in the shares of the company, according to the register of directors' interests, were as follows:

31.5.20

1.6.19

Ordinary shares of £1 each

Mr J P Ash

1

1

Mrs L J Berry

1

1

These directors did not hold any non-beneficial interests in the shares of the company.

This report has been prepared in accordance with the provisions of Part 15 of the Companies Act 2006 relating to small companies.

ON BEHALF OF THE BOARD:

Mr J P Ash - Director

1 March 2021

FIXED ASSETS

Investment property

4

310,000

300,000

CURRENT ASSETS

Debtors

5

774

2,295

Cash at bank

6,699

2,853

7,473

5,148

CREDITORS

Amounts falling due within one year

6

(9,170

)

(7,924

)

NET CURRENT LIABILITIES

(1,697

)

(2,776

)

TOTAL ASSETS LESS CURRENT LIABILITIES

308,303

297,224

CREDITORS

Amounts falling due after more than one year

7

(206,729

)

(213,631

)

PROVISIONS FOR LIABILITIES

(12,469

)

-

NET ASSETS

89,105

83,593

CAPITAL AND RESERVES

Called up share capital

4

4

Fair value reserve

8

53,157

55,626

Retained earnings

35,944

27,963

SHAREHOLDERS' FUNDS

89,105

83,593

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 May 2020.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 May 2020 in accordance with Section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for:

(a)	ensuring that the company keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006 and

(b)

preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of each financial year and of its profit or loss for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the company.

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

In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 1 March 2021 and were signed on its behalf by:

Mr J P Ash - Director

1.	STATUTORY INFORMATION

Ashberry Properties (North West) Limited is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.

2.	ACCOUNTING POLICIES

Basis of preparing the financial statements

These financial statements have been prepared in accordance with Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" including the provisions of Section 1A "Small Entities" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention as modified by the revaluation of certain assets.

Turnover

Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Investment property

The investment property has been revalued to reflect current fair value at year end

Taxation

Taxation for the year comprises current and deferred tax. Tax is recognised in the Income Statement, except to the extent that it relates to items recognised in other comprehensive income or directly in equity.

Current or deferred taxation assets and liabilities are not discounted.

Current tax is recognised at the amount of tax payable using the tax rates and laws that have been enacted or substantively enacted by the balance sheet date.

Deferred tax

Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date.

Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from those in which they are recognised in financial statements. Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the year end and that are expected to apply to the reversal of the timing difference.

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.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 2 (2019 - 2 ) .

4.	INVESTMENT PROPERTY

Total

£

FAIR VALUE

At 1 June 2019

300,000

Revaluations

10,000

At 31 May 2020

310,000

NET BOOK VALUE

At 31 May 2020

310,000

At 31 May 2019

300,000

Fair value at 31 May 2020 is represented by:

£

Valuation in 2020

10,000

Valuation in 2017

30,000

Valuation in 2016

5,000

Valuation in 2015

20,626

Cost

244,374

310,000

5.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.5.20

31.5.19

£

£

Trade debtors

712

2,195

Other debtors

62

100

774

2,295

6.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.5.20

31.5.19

£

£

Bank loans and overdrafts

6,615

5,917

Taxation and social security

1,869

1,321

Other creditors

686

686

9,170

7,924

7.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

31.5.20

31.5.19

£

£

Bank loans

135,974

142,876

Other creditors

70,755

70,755

206,729

213,631

31.5.20

31.5.19

£

£

Amounts falling due in more than five years:

Repayable by instalments

Bank loans more 5 yr by instal

105,792

117,763

8.

RESERVES

Fair

value

reserve

£

At 1 June 2019

55,626

Property Revaluation reserve

(2,469

)

At 31 May 2020

53,157

9.	ULTIMATE CONTROLLING PARTY

The ultimate controlling party is Mr J P Ash.