Ashbury Leaseholds Limited - Accounts to registrar (filleted) - small 18.2

REGISTERED NUMBER: 10107484 (England and Wales)

Financial Statements for the Year Ended 30 September 2021

for

Ashbury Leaseholds Limited

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

4

DIRECTOR:

K Carmichael

REGISTERED OFFICE:

PO Box 58

Ashbury House

Liverpool

Merseyside

L19 9WX

REGISTERED NUMBER:

10107484 (England and Wales)

ACCOUNTANTS:

Cobham Murphy

116 Duke Street

Liverpool

Merseyside

L1 5JW

FIXED ASSETS

Investment property

4

22,327,750

22,327,750

CURRENT ASSETS

Debtors

5

26,435

61,279

Cash at bank

8,007

65

34,442

61,344

CREDITORS

Amounts falling due within one year

6

6,379,792

6,608,503

NET CURRENT LIABILITIES

(6,345,350

)

(6,547,159

)

TOTAL ASSETS LESS CURRENT LIABILITIES

15,982,400

15,780,591

CREDITORS

Amounts falling due after more than one year

7

(12,015,898

)

(12,014,811

)

PROVISIONS FOR LIABILITIES

(503,962

)

(503,962

)

NET ASSETS

3,462,540

3,261,818

CAPITAL AND RESERVES

Called up share capital

100

100

Retained earnings

3,462,440

3,261,718

SHAREHOLDERS' FUNDS

3,462,540

3,261,818

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30 September 2021.

The members have not required the company to obtain an audit of its financial statements for the year ended 30 September 2021 in accordance with Section 476 of the Companies Act 2006.

The director acknowledges his 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 director and authorised for issue on 20 September 2022 and were signed by:

K Carmichael - Director

1.	STATUTORY INFORMATION

Ashbury Leaseholds 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.

The presentation currency of the financial statements is the Pound Sterling (£).

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.

Despite the net current liabilities position and the company being affected by Covid-19 during the year the accounts have been prepared on a going concern basis.

Related party exemption

The company has taken advantage of exemption, under the terms of Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland', not to disclose related party transactions with wholly owned subsidiaries within the group.

Significant judgements and estimates

Included in debtors is an amount due from Ashbury Holdings, a fellow subsidiary undertaking, of £1,243,446. The director considers that this amount is fully recoverable.

Turnover

Turnover represents the fair value of the consideration for net rents received, excluding value added tax. Turnover is accounted for in the period to which it relates

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.

Financial instruments

Bank loans are initially measured at the present value of future payments, discounted at a market rate of interest, and subsequently at amortised cost using the effective interest method.

Directors loans and intercompany loans (being repayable on demand), trade debtors and trade creditors are measured at the undiscounted amount of the cash or other consideration expected to be paid or received.

Financial assets that are measured at amortised cost are assessed at the end of each reporting period for objective evidence of impairment. If objective evidence of impairment is found, an impairment loss is recognised in profit and loss.

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 1 (2020 - 1 ) .

4.	INVESTMENT PROPERTY

Total

£

FAIR VALUE

At 1 October 2020

and 30 September 2021

22,327,750

NET BOOK VALUE

At 30 September 2021

22,327,750

At 30 September 2020

22,327,750

5.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

30.9.21

30.9.20

£

£

Trade debtors

26,435

38,929

Amounts owed by group undertakings

-

21,987

Other debtors

-

363

26,435

61,279

6.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

30.9.21

30.9.20

£

£

Bank loans and overdrafts

8,333

5,208

Amounts owed to group undertakings

6,110,993

6,443,619

Taxation and social security

569

-

Other creditors

259,897

159,676

6,379,792

6,608,503

7.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

30.9.21

30.9.20

£

£

Bank loans

12,015,898

12,014,811

8.	SECURED DEBTS

The following secured debts are included within creditors:

30.9.21

30.9.20

£

£

Bank loans

11,974,232

11,970,019

9.	RELATED PARTY DISCLOSURES