Askew Investments Limited - Accounts to registrar (filleted) - small 23.1.2

REGISTERED NUMBER: 01069505 (England and Wales)

Unaudited Financial Statements for the Year Ended 30th September 2022

for

Askew Investments Limited

Page

Company Information

1

Statement of Financial Position

2

Notes to the Financial Statements

4

Report of the Accountants

7

DIRECTOR:

J Askew

SECRETARY:

S Cleave

REGISTERED OFFICE:

Hawthorn Farm

Lordship Lane

Wistow Lordship

Selby

North Yorkshire

YO8 3RR

REGISTERED NUMBER:

01069505 (England and Wales)

ACCOUNTANTS:

Hewson & Howson

8 Shepcote Office Village

Shepcote Lane

Sheffield

South Yorkshire

S9 1TG

FIXED ASSETS

Tangible assets

4

33,389

36,750

Investments

5

699,537

699,537

732,926

736,287

CURRENT ASSETS

Stocks

-

10,000

Cash at bank and in hand

725,093

782,977

725,093

792,977

CREDITORS

Amounts falling due within one year

6

16,382

2,151

NET CURRENT ASSETS

708,711

790,826

TOTAL ASSETS LESS CURRENT LIABILITIES

1,441,637

1,527,113

PROVISIONS FOR LIABILITIES

-

4,701

NET ASSETS

1,441,637

1,522,412

CAPITAL AND RESERVES

Called up share capital

7

10,000

10,000

Share premium

42,977

42,977

Fair value reserve

8

57,889

227,194

Retained earnings

1,330,771

1,242,241

SHAREHOLDERS' FUNDS

1,441,637

1,522,412

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30th September 2022.

The members have not required the company to obtain an audit of its financial statements for the year ended 30th September 2022 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 27th June 2023 and were signed by:

J Askew - Director

1.	STATUTORY INFORMATION

Askew Investments 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.

Tangible fixed assets

Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.

Plant and machinery

-

25% on reducing balance

Computer equipment

-

33% on cost

Impairment of assets

At each reporting date fixed assets are reviewed to determine whether there is any indication that those assets have suffered an impairment loss.If there is an indication of possible impairment, the recoverable amount of any affected asset is estimated and compared with its carrying amount. If estimated recoverable amount is lower, the carrying amount is reduced to its estimated recoverable amount and an impairment loss is recognised immediately in profit or loss.

If an impairment loss subsequently reverses, the carrying amount of the asset is increased to the revised estimate of its recoverable amount, but not in excess of the amount that would have been determined had no impairment loss been recognised for the asset in prior years. A reversal of an impairment loss is recognised immediately in profit or loss.

Stocks

Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.

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 statement of financial position date.

Deferred tax

Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the statement of financial position 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.

Currency presentation

The financial statements are presented in Sterling (£) which is the functional currency of the company. Monetary amounts in these financial statements are rounded to the nearest £.

Financial instruments

The company has elected to apply the provisions of Section 11 "Basic Financial Instruments" and Section 12 "Other Financial Instruments Issues" of FRS 102 to all of its financial Instruments.

Financial Instruments are recognised in the company's balance sheet when it becomes party to the contractual provisions of the instrument.

Financial assets and liabilities are offset, with the net amounts presented in the financial statements, when there is a legally enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 2 (2021 - 2 ) .

4.	TANGIBLE FIXED ASSETS

Plant and

Computer

machinery

equipment

Totals

£

£

£

COST

At 1st October 2021

129,185

-

129,185

Additions

2,880

404

3,284

At 30th September 2022

132,065

404

132,469

DEPRECIATION

At 1st October 2021

92,435

-

92,435

Charge for year

6,601

44

6,645

At 30th September 2022

99,036

44

99,080

NET BOOK VALUE

At 30th September 2022

33,029

360

33,389

At 30th September 2021

36,750

-

36,750

5.	FIXED ASSET INVESTMENTS

Other

investments

£

COST OR VALUATION

At 1st October 2021

and 30th September 2022

699,537

NET BOOK VALUE

At 30th September 2022

699,537

At 30th September 2021

699,537

Cost or valuation at 30th September 2022 is represented by:

Other

investments

£

Valuation in 2019

57,889

Cost

641,648

699,537

6.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

30.9.22

30.9.21

£

£

Other creditors

16,382

2,151

7.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

30.9.22

30.9.21

value:

£

£

10,000

Ordinary

£1

10,000

10,000

8.

RESERVES

Fair

value

reserve

£

At 1st October 2021

227,194

Revaluation for the year

(169,305

)

At 30th September 2022

57,889

9.	RELATED PARTY DISCLOSURES

The director J Askew operates a loan account with the company. At the balance sheet date the company owed J Askew £510 (2021: £510). The loan account was not overdrawn at any point during the year.

The following reproduces the text of the report prepared for the director in respect of the company's annual unaudited financial statements. In accordance with the Companies Act 2006, the company is only required to file a Statement of Financial Position. Readers are cautioned that the Income Statement and certain other primary statements and the Report of the Director are not required to be filed with the Registrar of Companies.

As described on the Statement of Financial Position you are responsible for the preparation of the financial statements for the year ended 30th September 2022 set out on pages three to ten and you consider that the company is exempt from an audit.

In accordance with your instructions, we have compiled these unaudited financial statements in order to assist you to fulfil your statutory responsibilities, from the accounting records and information and explanations supplied to us.

Hewson & Howson

8 Shepcote Office Village

Shepcote Lane

Sheffield

South Yorkshire

S9 1TG

27th June 2023