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REGISTERED NUMBER:
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ASPEN PROPERTY SERVICES LIMITED |
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UNAUDITED FINANCIAL STATEMENTS |
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FOR THE YEAR ENDED 31 MARCH 2017 |
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REGISTERED NUMBER:
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ASPEN PROPERTY SERVICES LIMITED |
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UNAUDITED FINANCIAL STATEMENTS |
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FOR THE YEAR ENDED 31 MARCH 2017 |
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ASPEN PROPERTY SERVICES LIMITED (REGISTERED NUMBER: 03883227) |
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CONTENTS OF THE FINANCIAL STATEMENTS |
FOR THE YEAR ENDED 31 MARCH 2017 |
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Company Information | 1 |
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Balance Sheet | 2 |
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Notes to the Financial Statements | 4 |
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Chartered Accountants' Report | 9 |
ASPEN PROPERTY SERVICES LIMITED |
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COMPANY INFORMATION |
FOR THE YEAR ENDED 31 MARCH 2017 |
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DIRECTOR: |
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SECRETARY: |
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REGISTERED OFFICE: |
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REGISTERED NUMBER: |
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ACCOUNTANTS: |
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Chartered Accountants |
Citypoint 2 |
25 Tyndrum Street |
Glasgow |
G4 0JY |
ASPEN PROPERTY SERVICES LIMITED (REGISTERED NUMBER: 03883227) |
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BALANCE SHEET |
31 MARCH 2017 |
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2017 | 2016 |
Notes | £ | £ | £ | £ |
FIXED ASSETS |
Tangible assets | 4 |
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Investments | 5 |
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Investment property | 6 |
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CURRENT ASSETS |
Debtors | 7 |
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Cash at bank and in hand |
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CREDITORS |
Amounts falling due within one year | 8 |
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NET CURRENT ASSETS |
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TOTAL ASSETS LESS CURRENT
LIABILITIES |
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PROVISIONS FOR LIABILITIES |
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NET ASSETS |
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CAPITAL AND RESERVES |
Called up share capital | 9 |
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Revaluation reserve |
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Retained earnings |
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SHAREHOLDERS' FUNDS |
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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. |
ASPEN PROPERTY SERVICES LIMITED (REGISTERED NUMBER: 03883227) |
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BALANCE SHEET - continued |
31 MARCH 2017 |
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In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered. |
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The financial statements were approved by the director on
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ASPEN PROPERTY SERVICES LIMITED (REGISTERED NUMBER: 03883227) |
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NOTES TO THE FINANCIAL STATEMENTS |
FOR THE YEAR ENDED 31 MARCH 2017 |
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1. | STATUTORY INFORMATION |
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Aspen Property Services Limited is a private company, limited by shares, registered in England and Wales. The |
company's registered number is 03883227 and it's registered office is 79 High Street, Eton, Berkshire, SL4 6AF. |
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2. | ACCOUNTING POLICIES |
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Basis of preparing the financial statements |
These financial statements have been prepared in accordance with the provisions of Section 1A "Small Entities" |
of Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of |
Ireland" and the Companies Act 2006. The financial statements have been prepared under the historical cost |
convention as modified by the revaluation of certain assets. |
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Revenue recognition |
Turnover is measured at the fair value of the consideration received or receivable. |
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Turnover is recognised when rental periods commence. |
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Tangible fixed assets |
Depreciation of fixed assets is calculated to write off the cost or valuation less any residual value over their |
estimated useful lives as follows: |
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Freehold buildings | 2% - 5% on cost |
Fittings, equipment and vehicles | 10% - 20% on cost |
Computer equipment | 25% on cost |
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Investments in subsidiaries and associates |
Investments in shares in group undertakings are stated at cost, less any provision for impairment. |
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Investments in interests in associated undertakings are stated at fair value, being determined by reference to |
recent transactions in the share capital of the associated company. |
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Other investments |
Other investments are stated at fair value. |
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Investment property |
Investment properties are stated at fair value. |
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Financial instruments |
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Debtors |
Other debtors are recognised at the settlement amount due with appropriate allowances for any irrecoverable |
amounts when there is objective evidence that the asset is impaired. |
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Cash and cash equivalents |
Cash and cash equivalents in the balance sheet comprise cash on hand and cash at bank with a short term of |
maturity, being twelve months or less, from the opening of the deposit or similar account. |
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Creditors |
Other creditors and accrued expenses are recognised where the company has a present obligation resulting from |
a past event and are recognised at the settlement amount due after allowing for any trade discounts due. |
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3. | EMPLOYEES AND DIRECTORS |
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The average number of employees during the year was
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ASPEN PROPERTY SERVICES LIMITED (REGISTERED NUMBER: 03883227) |
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NOTES TO THE FINANCIAL STATEMENTS - continued |
FOR THE YEAR ENDED 31 MARCH 2017 |
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4. | TANGIBLE FIXED ASSETS |
Fixtures |
Freehold | and | Motor |
property | Equipment | fittings | vehicles | Totals |
£ | £ | £ | £ | £ |
COST OR VALUATION |
At 1 April 2016 |
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Additions |
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At 31 March 2017 |
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DEPRECIATION |
At 1 April 2016 |
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Charge for year |
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At 31 March 2017 |
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NET BOOK VALUE |
At 31 March 2017 |
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At 31 March 2016 |
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Cost or valuation at 31 March 2017 is represented by: |
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Fixtures |
Freehold | and | Motor |
property | Equipment | fittings | vehicles | Totals |
£ | £ | £ | £ | £ |
Valuation in 2014 | 449,719 | - | - | - | 449,719 |
Cost | 515,281 | 72,637 | 154,603 | 28,250 | 770,771 |
965,000 | 72,637 | 154,603 | 28,250 | 1,220,490 |
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If Freehold property had not been revalued it would have been included at the following historical cost: |
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2017 | 2016 |
£ | £ |
Cost | 515,281 | 515,281 |
Aggregate depreciation | 144,285 | 133,979 |
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During the year ended 31 March 2014 Aspen Property Services Limited had the freehold property at 79 High |
Street, Eton revalued. The valuation was carried out by Kempton Carr Croft Chartered Surveyors. The property |
was valued at £925,000 based on market value. |
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The car park situated at Emlyn Buildings was revalued by the director at a value of £40,000 at 31 March 2014 |
based on an offer to purchase as received. |
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The director considers there to have been no movement in value in the year to 31 March 2017 for either |
property. |
ASPEN PROPERTY SERVICES LIMITED (REGISTERED NUMBER: 03883227) |
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NOTES TO THE FINANCIAL STATEMENTS - continued |
FOR THE YEAR ENDED 31 MARCH 2017 |
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5. | FIXED ASSET INVESTMENTS |
Shares in | Interest |
group | in | Other |
undertakings | associate | investments | Totals |
£ | £ | £ | £ |
COST OR VALUATION |
At 1 April 2016 |
and 31 March 2017 |
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9,342,306 |
PROVISIONS |
At 1 April 2016 | 1,000,000 | - | 839,509 | 1,839,509 |
Provision for year | - | - | 2,350 | 2,350 |
At 31 March 2017 | 1,000,000 | - | 841,859 | 1,841,859 |
NET BOOK VALUE |
At 31 March 2017 |
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7,500,447 |
At 31 March 2016 |
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7,502,797 |
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Cost or valuation at 31 March 2017 is represented by: |
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Shares in | Interest |
group | in | Other |
undertakings | associate | investments | Totals |
£ | £ | £ | £ |
Valuation in 2015 | - | 4,711,259 | - | 4,711,259 |
Cost | 2,968,399 | 658,741 | 1,003,907 | 4,631,047 |
2,968,399 | 5,370,000 | 1,003,907 | 9,342,306 |
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6. | INVESTMENT PROPERTY |
Total |
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COST OR VALUATION |
At 1 April 2016 |
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Revaluations | ( |
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At 31 March 2017 |
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NET BOOK VALUE |
At 31 March 2017 |
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At 31 March 2016 |
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Cost or valuation at 31 March 2017 is represented by: |
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£ |
Valuation in 2014 | 480,906 |
Valuation in 2017 | (125,000 | ) |
Cost | 2,894,094 |
3,250,000 |
ASPEN PROPERTY SERVICES LIMITED (REGISTERED NUMBER: 03883227) |
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NOTES TO THE FINANCIAL STATEMENTS - continued |
FOR THE YEAR ENDED 31 MARCH 2017 |
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6. | INVESTMENT PROPERTY - continued |
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The property was valued at £3,250,000 based on market value, by an independent valuer who holds a recognised |
and relevant professional qualification and having experience in the location of the investment property, on 25th |
January 2017. |
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7. | DEBTORS |
2017 | 2016 |
£ | £ |
Amounts falling due within one year: |
Amounts owed by group undertakings |
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Other debtors |
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Directors' current accounts | 194,869 | 216,069 |
Prepayments |
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Amounts falling due after more than one year: |
Other debtors | 17,243 | 15,721 |
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Aggregate amounts |
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8. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
2017 | 2016 |
£ | £ |
Social security and other taxes |
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Other creditors |
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Accrued expenses |
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9. | CALLED UP SHARE CAPITAL |
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Allotted, issued and fully paid: |
Number: | Class: | Nominal | 2017 | 2016 |
value: | £ | £ |
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Ordinary shares | £1 | 1 | 1 |
ASPEN PROPERTY SERVICES LIMITED (REGISTERED NUMBER: 03883227) |
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NOTES TO THE FINANCIAL STATEMENTS - continued |
FOR THE YEAR ENDED 31 MARCH 2017 |
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10. | DIRECTOR'S ADVANCES, CREDITS AND GUARANTEES |
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The following advances and credits to a director subsisted during the years ended 31 March 2017 and |
31 March 2016: |
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2017 | 2016 |
£ | £ |
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Balance outstanding at start of year |
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Amounts advanced |
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Amounts repaid | ( |
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Amounts written off | - | - |
Amounts waived | - | - |
Balance outstanding at end of year |
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4% interest is charged monthly on any balances owing to the company and is included in amounts advanced |
above. |
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The above balances are included within other debtors as at 31 March 2017 and 31 March 2016, as appropriate. |
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11. | ULTIMATE PARENT UNDERTAKING |
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The ultimate parent company is Aspen Capital Group Limited with its registered office at 79A High Street, Eton, |
Berkshire, SL4 6AF. |
CHARTERED ACCOUNTANTS' REPORT TO THE DIRECTOR |
ON THE UNAUDITED FINANCIAL STATEMENTS OF |
ASPEN PROPERTY SERVICES LIMITED |
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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 Balance Sheet. 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. |
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In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the |
financial statements of Aspen Property Services Limited for the year ended 31 March 2017 which comprise the Income |
Statement, Other Comprehensive Income, Balance Sheet, and the related notes from the company's accounting records |
and from information and explanations you have given us. |
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As a practising member firm of ICAS, we are subject to its ethical and other professional requirements which are detailed at http://www.icas.com/accountspreparationguidance. |
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This report is made solely to the director of Aspen Property Services Limited in accordance with our terms of engagement. Our work has been undertaken solely to prepare for your approval the financial statements of Aspen Property Services Limited and state those matters that we have agreed to state to the director of Aspen Property Services Limited in this report in accordance with the requirements of ICAS as detailed at http://www.icas.com/accountspreparationguidance. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than the company and its director for our work or for this report. |
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It is your duty to ensure that Aspen Property Services Limited has kept adequate accounting records and to prepare statutory financial statements that give a true and fair view of the assets, liabilities, financial position and loss of Aspen Property Services Limited. You consider that Aspen Property Services Limited is exempt from the statutory audit requirement for the year. |
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We have not been instructed to carry out an audit or a review of the financial statements of Aspen Property Services Limited. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory financial statements. |
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Chartered Accountants |
Citypoint 2 |
25 Tyndrum Street |
Glasgow |
G4 0JY |
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