Assetbound Limited - Accounts to registrar (filleted) - small 22.3
Assetbound Limited - Accounts to registrar (filleted) - small 22.3
| REGISTERED NUMBER: |
| UNAUDITED FINANCIAL STATEMENTS |
| FOR THE YEAR ENDED 28TH FEBRUARY 2022 |
| FOR |
| ASSETBOUND LIMITED |
| ASSETBOUND LIMITED (REGISTERED NUMBER: 11807598) |
| CONTENTS OF THE FINANCIAL STATEMENTS |
| for the Year Ended 28TH FEBRUARY 2022 |
| Page |
| Company Information | 1 |
| Balance Sheet | 2 |
| Notes to the Financial Statements | 3 |
| ASSETBOUND LIMITED |
| COMPANY INFORMATION |
| for the Year Ended 28TH FEBRUARY 2022 |
| DIRECTOR: |
| REGISTERED OFFICE: |
| REGISTERED NUMBER: |
| ACCOUNTANTS: |
| Monks Brook House |
| 13 - 17 Hursley Road |
| Chandlers Ford |
| Eastleigh |
| Hampshire |
| SO53 2FW |
| ASSETBOUND LIMITED (REGISTERED NUMBER: 11807598) |
| BALANCE SHEET |
| 28TH FEBRUARY 2022 |
| 28.2.22 | 28.2.21 |
| Notes | £ | £ | £ | £ |
| FIXED ASSETS |
| Investment property | 4 |
| CURRENT ASSETS |
| Debtors | 5 |
| Cash at bank |
| CREDITORS |
| Amounts falling due within one year | 6 |
| NET CURRENT ASSETS |
| TOTAL ASSETS LESS CURRENT LIABILITIES |
| CREDITORS |
| Amounts falling due after more than one year |
7 |
( |
) |
( |
) |
| PROVISIONS FOR LIABILITIES | ( |
) | ( |
) |
| NET ASSETS |
| CAPITAL AND RESERVES |
| Called up share capital |
| Fair value reserve | 9 |
| Retained earnings |
| 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. |
| 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 |
| ASSETBOUND LIMITED (REGISTERED NUMBER: 11807598) |
| NOTES TO THE FINANCIAL STATEMENTS |
| for the Year Ended 28TH FEBRUARY 2022 |
| 1. | STATUTORY INFORMATION |
| Assetbound Limited is a |
| 2. | ACCOUNTING POLICIES |
| Basis of preparing the financial statements |
| The company's financial statements show a loss for the first period of trading, the result of which has led to a net liability position at the balance sheet date.The director is continuing to support the company financially and will ensure that it has sufficient resources to enable it to meet its liabilities as they fall due. For this reason he is satisfied that the company can continue to prepare its financial statements on a going concern basis. |
| 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 |
| 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. |
| 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 NIL (2021 - NIL). |
| 4. | INVESTMENT PROPERTY |
| Total |
| £ |
| FAIR VALUE |
| At 1st March 2021 |
| Additions |
| Revaluations | 86,325 |
| At 28th February 2022 |
| NET BOOK VALUE |
| At 28th February 2022 |
| At 28th February 2021 |
| ASSETBOUND LIMITED (REGISTERED NUMBER: 11807598) |
| NOTES TO THE FINANCIAL STATEMENTS - continued |
| for the Year Ended 28TH FEBRUARY 2022 |
| 4. | INVESTMENT PROPERTY - continued |
| Fair value at 28th February 2022 is represented by: |
| £ |
| Valuation in 2021 | 327,176 |
| Valuation in 2022 | 86,325 |
| Cost | 1,751,499 |
| 2,165,000 |
| If the investment properties had not been revalued they would have been included at the following historical cost: |
| 28.2.22 | 28.2.21 |
| £ | £ |
| Cost | 1,750,499 | 1,750,499 |
| Aggregate depreciation | (105,030 | ) | (70,020 | ) |
| Investment properties were valued on an open market basis basis on 28th February 2022 by the director of the company . |
| 5. | DEBTORS |
| 28.2.22 | 28.2.21 |
| £ | £ |
| Amounts falling due within one year: |
| Other debtors |
| Amounts falling due after more than one year: |
| Amounts owed by associates |
| Aggregate amounts |
| 6. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
| 28.2.22 | 28.2.21 |
| £ | £ |
| Bank loans and overdrafts |
| Trade creditors |
| Amounts owed to associates | 16,271 | 9,096 |
| Taxation and social security |
| Other creditors |
| 7. | CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR |
| 28.2.22 | 28.2.21 |
| £ | £ |
| Bank loans |
| Amounts owed to associates | 1,207,638 | 1,189,854 |
| Other creditors |
| Amounts falling due in more than five years: |
| Repayable by instalments |
| Bank loans more 5 yr by instal | 660,989 | 690,244 |
| Other loans more 5yrs instal | 22,215 | 14,903 |
| 683,204 | 705,147 |
| ASSETBOUND LIMITED (REGISTERED NUMBER: 11807598) |
| NOTES TO THE FINANCIAL STATEMENTS - continued |
| for the Year Ended 28TH FEBRUARY 2022 |
| 8. | SECURED DEBTS |
| The following secured debts are included within creditors: |
| 28.2.22 | 28.2.21 |
| £ | £ |
| Bank loans |
| 9. | RESERVES |
| Fair |
| value |
| reserve |
| £ |
| At 1st March 2021 |
| Transfer between reserves | 69,733 |
| At 28th February 2022 |