ACCOUNTS - Final Accounts

A&S (UK) PROPERTY LIMITED - Company Information

Caseware UK (AP4) 2023.0.135 2023.0.135 2023-03-312023-03-31false2022-04-01The Company's principal activity continued to be of Investment Property00truetrueThe members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006. 08854235 2022-04-01 2023-03-31 08854235 2021-04-01 2022-03-31 08854235 2023-03-31 08854235 2022-03-31 08854235 c:Director1 2022-04-01 2023-03-31 08854235 d:Buildings d:LongLeaseholdAssets 2022-04-01 2023-03-31 08854235 d:Buildings d:LongLeaseholdAssets 2023-03-31 08854235 d:Buildings d:LongLeaseholdAssets 2022-03-31 08854235 d:CurrentFinancialInstruments 2023-03-31 08854235 d:CurrentFinancialInstruments 2022-03-31 08854235 d:CurrentFinancialInstruments d:WithinOneYear 2023-03-31 08854235 d:CurrentFinancialInstruments d:WithinOneYear 2022-03-31 08854235 d:ShareCapital 2023-03-31 08854235 d:ShareCapital 2022-03-31 08854235 d:RetainedEarningsAccumulatedLosses 2023-03-31 08854235 d:RetainedEarningsAccumulatedLosses 2022-03-31 08854235 c:OrdinaryShareClass1 2022-04-01 2023-03-31 08854235 c:OrdinaryShareClass1 2023-03-31 08854235 c:OrdinaryShareClass1 2022-03-31 08854235 c:FRS102 2022-04-01 2023-03-31 08854235 c:AuditExempt-NoAccountantsReport 2022-04-01 2023-03-31 08854235 c:FullAccounts 2022-04-01 2023-03-31 08854235 c:PrivateLimitedCompanyLtd 2022-04-01 2023-03-31 08854235 e:PoundSterling 2022-04-01 2023-03-31 xbrli:shares iso4217:GBP xbrli:pure

Registered number: 08854235

A&S (UK) PROPERTY LIMITED

UNAUDITED

FINANCIAL STATEMENTS

INFORMATION FOR FILING WITH THE REGISTRAR

FOR THE PERIOD ENDED 31 MARCH 2023

REGISTERED NUMBER: 08854235

BALANCE SHEET

AS AT 31 MARCH 2023

		2023		2022
Note		£		£

Fixed assets
Tangible assets	4		800,000		800,000
			800,000		800,000
Current assets
Debtors: amounts falling due within one year	5	32,265		865,079
Cash at bank and in hand	6	127		4,853
		32,392		869,932
Creditors: amounts falling due within one year	7	(918,639)		(1,682,543)
Net current liabilities			(886,247)		(812,611)
Total assets less current liabilities			(86,247)		(12,611)

Net liabilities			(86,247)		(12,611)

Capital and reserves
Called up share capital	8	100	100
Profit and loss account	9	(86,347)	(12,711)
		(86,247)	(12,611)

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REGISTERED NUMBER: 08854235

BALANCE SHEET (CONTINUED)

AS AT 31 MARCH 2023

The directors consider that the Company is entitled to exemption from audit under section 477 of the Companies Act 2006 and members have not required the Company to obtain an audit for the Period in question in accordance with section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.

The financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies regime and in accordance with the provisions of FRS 102 Section 1A - small entities.

The financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime.

The Company has opted not to file the profit and loss account in accordance with provisions applicable to companies subject to the small companies' regime.

The financial statements were approved and authorised for issue by the board and were signed on its behalf by:

................................................

Nadia Momin Imam

Director

Date: 24 April 2024

The notes on pages 3 to 8 form part of these financial statements.

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NOTES TO THE FINANCIAL STATEMENTS

FOR THE PERIOD ENDED 31 MARCH 2023

1.	General information

The company is a members limited liability company incorporated in the United Kingdom.
The registered address of the company is:
22 Gilbert Street
London
W1K 5HD

2.Accounting policies

2.1

Basis of preparation of financial statements

The financial statements have been prepared under the historical cost convention unless otherwise specified within these accounting policies and in accordance with Section 1A of Financial Reporting Standard 102, the Financial Reporting Standard applicable in the UK and the Republic of Ireland and the Companies Act 2006.

2.2

Revenue

Revenue is recognised to the extent that it is probable that the economic benefits will flow to the Company and the revenue can be reliably measured. Revenue is measured as the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. The following criteria must also be met before revenue is recognised:

2.3

Finance costs

Finance costs are charged to profit or loss over the term of the debt using the effective interest method so that the amount charged is at a constant rate on the carrying amount. Issue costs are initially recognised as a reduction in the proceeds of the associated capital instrument.

2.4

Borrowing costs

All borrowing costs are recognised in profit or loss in the Period in which they are incurred.

2.5

Tangible fixed assets

Tangible fixed assets under the cost model are stated at historical cost less accumulated depreciation and any accumulated impairment losses. Historical cost includes expenditure that is directly attributable to bringing the asset to the location and condition necessary for it to be capable of operating in the manner intended by management.

Land is not depreciated. Depreciation on other assets is charged so as to allocate the cost of assets less their residual value over their estimated useful lives, using the straight-line method.

Depreciation is provided on the following basis:

Long-term leasehold property

not depreciated

The assets' residual values, useful lives and depreciation methods are reviewed, and adjusted prospectively if appropriate, or if there is an indication of a significant change since the last reporting date.

Gains and losses on disposals are determined by comparing the proceeds with the carrying amount and are recognised in profit or loss.

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NOTES TO THE FINANCIAL STATEMENTS

FOR THE PERIOD ENDED 31 MARCH 2023

2.Accounting policies (continued)

2.6

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, less any impairment.

2.7

Cash and cash equivalents

Cash is represented by cash in hand and deposits with financial institutions repayable without penalty on notice of not more than 24 hours. Cash equivalents are highly liquid investments that mature in no more than three months from the date of acquisition and that are readily convertible to known amounts of cash with insignificant risk of change in value.

2.8

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.

2.9

Financial instruments

The Company has elected to apply the provisions of Section 11 “Basic Financial Instruments” of FRS 102 to all of its financial instruments.

The Company has elected to apply the recognition and measurement provisions of IFRS 9 Financial Instruments (as adopted by the UK Endorsement Board) with the disclosure requirements of Sections 11 and 12 and the other presentation requirements of FRS 102.

Financial instruments are recognised in the Company's Balance sheet when the Company 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.

Basic financial assets

Basic financial assets, which include trade and other receivables, cash and bank balances, are initially measured at their transaction price including transaction costs and are subsequently carried at their amortised cost using the effective interest method, less any provision for impairment, unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest.

Discounting is omitted where the effect of discounting is immaterial. The Company's cash and cash equivalents, trade and most other receivables due with the operating cycle fall into this category of financial instruments.

Other financial assets

Other financial assets, which includes investments in equity instruments which are not classified as subsidiaries, associates or joint ventures, are initially measured at fair value, which is normally the recognised transaction price. Such assets are subsequently measured at fair value with the changes in fair value being recognised in the profit or loss. Where other financial assets are not publicly

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NOTES TO THE FINANCIAL STATEMENTS

FOR THE PERIOD ENDED 31 MARCH 2023

2.Accounting policies (continued)

2.9

Financial instruments (continued)

traded, hence their fair value cannot be measured reliably, they are measured at cost less impairment.

Impairment of financial assets

Financial assets are assessed for indicators of impairment at each reporting date.

Financial assets are impaired when events, subsequent to their initial recognition, indicate the estimated future cash flows derived from the financial asset(s) have been adversely impacted. The impairment loss will be the difference between the current carrying amount and the present value of the future cash flows at the asset(s) original effective interest rate.

If there is a favourable change in relation to the events surrounding the impairment loss then the impairment can be reviewed for possible reversal. The reversal will not cause the current carrying amount to exceed the original carrying amount had the impairment not been recognised. The impairment reversal is recognised in the profit or loss.

Financial liabilities

Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instruments any contract that evidences a residual interest in the assets of the Company after the deduction of all its liabilities.

Basic financial liabilities, which include trade and other payables, bank loans and other loans are initially measured at their transaction price after transaction costs. When this constitutes a financing transaction, whereby the debt instrument is measured at the present value of the future receipts discounted at a market rate of interest. Discounting is omitted where the effect of discounting is immaterial.

Debt instruments are subsequently carried at their amortised cost using the effective interest rate method.

Trade payables are obligations to pay for goods and services that have been acquired in the ordinary course of business from suppliers. Trade payables are classified as current liabilities if the payment is due within one year. If not, they represent non-current liabilities. Trade payables are initially recognised at their transaction price and subsequently are measured at amortised cost using the effective interest method. Discounting is omitted where the effect of discounting is immaterial.

Other financial instruments

Derivatives, including forward exchange contracts, futures contracts and interest rate swaps, are not classified as basic financial instruments. These are initially recognised at fair value on the date the derivative contract is entered into, with costs being charged to the profit or loss. They are subsequently measured at fair value with changes in the profit or loss.

Debt instruments that do not meet the conditions as set out in FRS 102 paragraph 11.9 are subsequently measured at fair value through the profit or loss. This recognition and measurement would also apply to financial instruments where the performance is evaluated on a fair value basis as with a documented risk management or investment strategy.

Derecognition of financial instruments

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NOTES TO THE FINANCIAL STATEMENTS

FOR THE PERIOD ENDED 31 MARCH 2023

2.Accounting policies (continued)

2.9

Financial instruments (continued)

Derecognition of financial assets

Financial assets are derecognised when their contractual right to future cash flow expire, or are settled, or when the Company transfers the asset and substantially all the risks and rewards of ownership to another party. If significant risks and rewards of ownership are retained after the transfer to another party, then the Company will continue to recognise the value of the portion of the risks and rewards retained.

Derecognition of financial liabilities

Financial liabilities are derecognised when the Company's contractual obligations expire or are discharged or cancelled.

Employees

	The Company has no employees other than the directors, who did not receive any remuneration (2022 - £NIL).
	The average monthly number of employees, including directors, during the Period was 0 (2022 - 0).

4.	Tangible fixed assets

		Long-term leasehold property
		£
	Cost or valuation
	At 1 April 2022	800,000
	At 31 March 2023	800,000

	Net book value
	At 31 March 2023	800,000
	At 31 March 2022	800,000

Debtors

					2023	2022
					£	£

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NOTES TO THE FINANCIAL STATEMENTS

FOR THE PERIOD ENDED 31 MARCH 2023

5.Debtors (continued)

Trade debtors	32,167	32,583
Amounts owed by group undertakings	-	899
Other debtors	98	831,597
	32,265	865,079

6.	Cash and cash equivalents
		2023	2022
		£	£

Cash at bank and in hand	127	4,853
	127	4,853

7.	Creditors: Amounts falling due within one year
		2023	2022
		£	£

Bank loans	537,693	544,937
Trade creditors	277	697
Other taxation and social security	6,848	8,625
Other creditors	373,821	1,128,284
	918,639	1,682,543

The following liabilities were secured:
	2023	2022
	£	£


Bank loan	499,077	499,077
	499,077	499,077

Details of security provided:

Bank loan of £499,077 (2022 - £499,077) was secured on the assets of the company.

8.	Share capital

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NOTES TO THE FINANCIAL STATEMENTS

FOR THE PERIOD ENDED 31 MARCH 2023

					2023	2022
					£	£

Allotted, called up and fully paid

100 (2022 - 100) Ordinary shares of £1.00 each	100	100

Reserves

10.	Related party transactions
	As at the reporting date, the company had related party balances due to/due from:

		2023	2022
		£	£

IPE Group (Holdings) Limited	-	-
IPE Capital Limited	-	-
Nadia Momin Imam Loan Account	-	-
Ariana Flats Limited	-	-
IPE Ariana Apartments Limited	-	-
Wedgemore Properties Limited	-	-
	-	-

11.	Controlling party

The ultimate controlling party is Nadia Momin Imam by virtue of her majority shareholding into the company.

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