Assetsky Limited - Accounts to registrar (filleted) - small 18.2
Assetsky Limited - Accounts to registrar (filleted) - small 18.2
| REGISTERED NUMBER: |
| Unaudited Financial Statements |
| for the Year Ended 31 October 2021 |
| for |
| Assetsky Limited |
| Assetsky Limited (Registered number: 02262073) |
| Contents of the Financial Statements |
| for the Year Ended 31 October 2021 |
| Page |
| Company Information | 1 |
| Balance Sheet | 2 |
| Notes to the Financial Statements | 3 |
| Assetsky Limited |
| Company Information |
| for the Year Ended 31 October 2021 |
| DIRECTORS: |
| REGISTERED OFFICE: |
| REGISTERED NUMBER: |
| Assetsky Limited (Registered number: 02262073) |
| Balance Sheet |
| 31 October 2021 |
| 31.10.21 | 31.10.20 |
| Notes | £ | £ | £ | £ |
| FIXED ASSETS |
| Tangible assets | 4 |
| Investment property | 5 |
| CURRENT ASSETS |
| Debtors | 6 |
| Cash at bank and in hand |
| CREDITORS |
| Amounts falling due within one year | 7 |
| NET CURRENT ASSETS |
| TOTAL ASSETS LESS CURRENT LIABILITIES |
| CREDITORS |
| Amounts falling due after more than one year |
8 |
( |
) |
( |
) |
| PROVISIONS FOR LIABILITIES | ( |
) | ( |
) |
| NET ASSETS |
| CAPITAL AND RESERVES |
| Called up share capital |
| Other reserves |
| Retained earnings |
| SHAREHOLDERS' FUNDS |
| 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. |
| 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 |
| Assetsky Limited (Registered number: 02262073) |
| Notes to the Financial Statements |
| for the Year Ended 31 October 2021 |
| 1. | STATUTORY INFORMATION |
| Assetsky Limited is a |
| 2. | ACCOUNTING POLICIES |
| Basis of preparing the financial statements |
| The presentation currency is sterling. |
| Turnover |
| Turnover represents rental income achieved in the period on an accruals basis, net of vat. Income is recognised as the rental period passes. |
| Tangible fixed assets |
| Fixtures and fittings | - |
| Motor vehicles | - |
| Computer equipment | - |
| Investment property |
| Investment property is shown at most recent valuation. Any aggregate surplus or deficit arising from changes in fair value is recognised in profit or loss. |
| Depreciation is not provided in respect of freehold investment properties. This policy represents a departure from statutory accounting principals, which require depreciation to be provided on all fixed assets. The directors consider that this policy is necessary in order that the financial statements may give a true and fair view because values and changes in current values are of prime importance rather than the calculation of systematic annual depreciation. Depreciation is only one of many factors reflected in the valuation and the amount which might otherwise have been shown cannot be separately identified or quantified. |
| 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. |
| Pension costs and other post-retirement benefits |
| The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate. |
| Debtors |
| Short term debtors are measured at transaction price less any impairment. Loans receivable are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method. |
| Assetsky Limited (Registered number: 02262073) |
| Notes to the Financial Statements - continued |
| for the Year Ended 31 October 2021 |
| 2. | ACCOUNTING POLICIES - continued |
| Creditors |
| Short term creditors are measured at the transaction price. Other financial liabilities, including bank loans are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method. |
| Going concern justification |
| The accounts are prepared on a going concern basis, the use of the going concern basis of accounting is appropriate because there are no material uncertainties related to events or conditions that may cast significant doubt about the ability of the company to continue as a going concern. |
| 3. | EMPLOYEES AND DIRECTORS |
| The average number of employees during the year was |
| 4. | TANGIBLE FIXED ASSETS |
| Fixtures |
| and | Motor | Computer |
| fittings | vehicles | equipment | Totals |
| £ | £ | £ | £ |
| COST |
| At 1 November 2020 |
| Additions |
| At 31 October 2021 |
| DEPRECIATION |
| At 1 November 2020 |
| Charge for year |
| At 31 October 2021 |
| NET BOOK VALUE |
| At 31 October 2021 |
| At 31 October 2020 |
| 5. | INVESTMENT PROPERTY |
| Total |
| £ |
| FAIR VALUE |
| At 1 November 2020 |
| Additions |
| Disposals | ( |
) |
| Revaluations | 861,448 |
| At 31 October 2021 |
| NET BOOK VALUE |
| At 31 October 2021 |
| At 31 October 2020 |
| Assetsky Limited (Registered number: 02262073) |
| Notes to the Financial Statements - continued |
| for the Year Ended 31 October 2021 |
| 5. | INVESTMENT PROPERTY - continued |
| Fair value at 31 October 2021 is represented by: |
| £ |
| Valuation in 2002 | 897,989 |
| Valuation in 2004 | 184,400 |
| Valuation in 2009 | 343,446 |
| Valuation in 2012 | (460,936 | ) |
| Valuation in 2013 | 342,101 |
| Valuation in 2014 | (186,001 | ) |
| Valuation in 2015 | (420,602 | ) |
| Valuation in 2016 | 44,222 |
| Valuation in 2017 | 23,527 |
| Valuation in 2021 | 871,248 |
| Cost | 4,554,905 |
| 6,194,299 |
| If investment property had not been revalued it would have been included at the following historical cost: |
| 31.10.21 | 31.10.20 |
| £ | £ |
| Cost | 4,554,905 | 4,745,320 |
| Investment properties were valued on an open market basis on 31 October 2021 by L Jones a director of the company. . |
| 6. | DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
| 31.10.21 | 31.10.20 |
| £ | £ |
| Trade debtors |
| Other debtors |
| Directors' current accounts | 95,227 | 87,954 |
| 7. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
| 31.10.21 | 31.10.20 |
| £ | £ |
| Bank loans and overdrafts (see note 9) |
| Trade creditors |
| Tax |
| Social security and other taxes |
| Other creditors |
| Accruals and deferred income |
| 8. | CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR |
| 31.10.21 | 31.10.20 |
| £ | £ |
| Bank loans (see note 9) |
| Other loans (see note 9) |
| Assetsky Limited (Registered number: 02262073) |
| Notes to the Financial Statements - continued |
| for the Year Ended 31 October 2021 |
| 8. | CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR - continued |
| 31.10.21 | 31.10.20 |
| £ | £ |
| Amounts falling due in more than five years: |
| Repayable otherwise than by instalments |
| Other loans more 5yrs non-inst |
| Repayable by instalments |
| Bank loans more 5 yr by instal | 92,087 | 231,107 |
| 9. | LOANS |
| An analysis of the maturity of loans is given below: |
| 31.10.21 | 31.10.20 |
| £ | £ |
| Amounts falling due within one year or on demand: |
| Bank loans |
| Amounts falling due between two and five years: |
| Bank loans - 2-5 years |
| Amounts falling due in more than five years: |
| Repayable otherwise than by instalments |
| Other loans more 5yrs non-inst | 692,099 | 694,921 |
| Repayable by instalments |
| Bank loans more 5 yr by instal | 92,087 | 231,107 |
| 10. | SECURED DEBTS |
| The following secured debts are included within creditors: |
| 31.10.21 | 31.10.20 |
| £ | £ |
| Bank loans |
| Bank borrowings are secured by legal charges over a life policy and certain of the company's freehold properties. |
| 11. | DIRECTORS' ADVANCES, CREDITS AND GUARANTEES |
| The following advances and credits to a director subsisted during the years ended 31 October 2021 and 31 October 2020: |
| 31.10.21 | 31.10.20 |
| £ | £ |
| Balance outstanding at start of year |
| Amounts advanced |
| Amounts repaid | ( |
) | ( |
) |
| Amounts written off | - | - |
| Amounts waived | - | - |
| Balance outstanding at end of year |
| Interest at 2.5% has been charged on the loan balance. |
| Assetsky Limited (Registered number: 02262073) |
| Notes to the Financial Statements - continued |
| for the Year Ended 31 October 2021 |
| 12. | ULTIMATE CONTROLLING PARTY |
| In the directors' opinion the company's ultimate parent company is Partingdale Limited, which is incorporated in the Isle of Man. |
| The ultimate controlling party is The January Settlement. |