Ashbury Freeholds Limited - Accounts to registrar (filleted) - small 18.2
Ashbury Freeholds Limited - Accounts to registrar (filleted) - small 18.2
REGISTERED NUMBER: |
Financial Statements for the Year Ended 30 September 2020 |
for |
Ashbury Freeholds Limited |
Ashbury Freeholds Limited (Registered number: 09807076) |
Contents of the Financial Statements |
for the Year Ended 30 September 2020 |
Page |
Company Information | 1 |
Balance Sheet | 2 |
Notes to the Financial Statements | 3 |
Ashbury Freeholds Limited |
Company Information |
for the Year Ended 30 September 2020 |
DIRECTOR: |
REGISTERED OFFICE: |
REGISTERED NUMBER: |
ACCOUNTANTS: |
116 Duke Street |
Liverpool |
Merseyside |
L1 5JW |
Ashbury Freeholds Limited (Registered number: 09807076) |
Balance Sheet |
30 September 2020 |
30.9.20 | 30.9.19 |
Notes | £ | £ | £ | £ |
FIXED ASSETS |
Investment property | 4 |
CURRENT ASSETS |
Debtors | 5 |
Cash at bank |
CREDITORS |
Amounts falling due within one year | 6 |
NET CURRENT LIABILITIES | ( |
) | ( |
) |
TOTAL ASSETS LESS CURRENT LIABILITIES |
PROVISIONS FOR LIABILITIES |
NET ASSETS |
CAPITAL AND RESERVES |
Called up share capital |
Retained earnings |
SHAREHOLDERS' FUNDS |
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 |
Ashbury Freeholds Limited (Registered number: 09807076) |
Notes to the Financial Statements |
for the Year Ended 30 September 2020 |
1. | STATUTORY INFORMATION |
Ashbury Freeholds Limited is a |
The presentation currency of the financial statements is the Pound Sterling (£). |
2. | ACCOUNTING POLICIES |
Basis of preparing the financial statements |
Despite the net current liabilities position at the year end and the company being affected by Covid-19 during the year the director still feels that the going concern basis of the preparation of the financial statements is still appropriate. |
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 are amounts due from fellow subsidiary undertakings of £9,965,782. The director considers that these amounts are 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. |
Ashbury Freeholds Limited (Registered number: 09807076) |
Notes to the Financial Statements - continued |
for the Year Ended 30 September 2020 |
2. | ACCOUNTING POLICIES - continued |
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 (2019 - NIL). |
4. | INVESTMENT PROPERTY |
Total |
£ |
FAIR VALUE |
At 1 October 2019 |
and 30 September 2020 |
NET BOOK VALUE |
At 30 September 2020 |
At 30 September 2019 |
Investment property is secured against loans in Ashbury Leaseholds Limited, a fellow subsidiary undertaking. |
5. | DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
30.9.20 | 30.9.19 |
£ | £ |
Other debtors |
6. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
30.9.20 | 30.9.19 |
£ | £ |
Bank loans and overdrafts |
Amounts owed to group undertakings |
Other creditors |
7. | RELATED PARTY DISCLOSURES |
K Carmichael is also a director of Ashbury Properties Limited. |
Included in creditors as at 30th September 2020 is £254,714 (2019 £325,995) owing to Ashbury Properties Limited. |
This loan is interest free and repayable on demand. |