REGISTERED NUMBER: |
UNAUDITED FINANCIAL STATEMENTS |
FOR THE YEAR ENDED 31 AUGUST 2022 |
FOR |
ASHFARM LIMITED |
REGISTERED NUMBER: |
UNAUDITED FINANCIAL STATEMENTS |
FOR THE YEAR ENDED 31 AUGUST 2022 |
FOR |
ASHFARM LIMITED |
ASHFARM LIMITED (REGISTERED NUMBER: 04890886) |
CONTENTS OF THE FINANCIAL STATEMENTS |
FOR THE YEAR ENDED 31 AUGUST 2022 |
Page |
Company Information | 1 |
Balance Sheet | 2 |
Notes to the Financial Statements | 4 |
ASHFARM LIMITED |
COMPANY INFORMATION |
FOR THE YEAR ENDED 31 AUGUST 2022 |
DIRECTOR: |
REGISTERED OFFICE: |
REGISTERED NUMBER: |
ACCOUNTANTS: |
Chartered Accountants |
10 Jesus Lane |
Cambridge |
Cambridgeshire |
CB5 8BA |
ASHFARM LIMITED (REGISTERED NUMBER: 04890886) |
BALANCE SHEET |
31 AUGUST 2022 |
2022 | 2021 |
Notes | £ | £ |
FIXED ASSETS |
Tangible assets | 5 |
Investment property | 6 |
CURRENT ASSETS |
Cash at bank and in hand |
CREDITORS |
Amounts falling due within one year | 7 | ( |
) | ( |
) |
NET CURRENT LIABILITIES | ( |
) | ( |
) |
TOTAL ASSETS LESS CURRENT LIABILITIES |
PROVISIONS FOR LIABILITIES | 9 | ( |
) | ( |
) |
NET ASSETS |
CAPITAL AND RESERVES |
Called up share capital | 10 |
Fair value reserve | 11 |
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. |
ASHFARM LIMITED (REGISTERED NUMBER: 04890886) |
BALANCE SHEET - continued |
31 AUGUST 2022 |
In accordance with Section 444 of the Companies Act 2006, the Profit and loss account has not been delivered. |
The financial statements were approved by the director and authorised for issue on |
ASHFARM LIMITED (REGISTERED NUMBER: 04890886) |
NOTES TO THE FINANCIAL STATEMENTS |
FOR THE YEAR ENDED 31 AUGUST 2022 |
1. | STATUTORY INFORMATION |
Ashfarm Limited is a |
The presentation currency of the financial statements is the Pound Sterling (£). |
2. | STATEMENT OF COMPLIANCE |
3. | ACCOUNTING POLICIES |
Basis of preparing the financial statements |
Turnover |
Turnover represents the provision of management services, revenue is recognised on an accruals basis once the right to consideration has been earnt. The company is not registered for value added tax. |
Tangible fixed assets |
Investment property |
Investment property is shown at fair value. Any aggregate surplus or deficit arising from changes |
in fair value is recognised in profit or loss. |
Rental income |
Other income represents short term accommodation sales, revenue is recognised on an accruals basis once the right to consideration has been earnt. |
4. | EMPLOYEES AND DIRECTORS |
The average number of employees during the year was NIL (2021 - NIL). |
ASHFARM LIMITED (REGISTERED NUMBER: 04890886) |
NOTES TO THE FINANCIAL STATEMENTS - continued |
FOR THE YEAR ENDED 31 AUGUST 2022 |
5. | TANGIBLE FIXED ASSETS |
Fixtures |
Plant and | and | Computer |
machinery | fittings | equipment | Totals |
£ | £ | £ | £ |
COST |
At 1 September 2021 |
Additions |
At 31 August 2022 |
DEPRECIATION |
At 1 September 2021 |
Charge for year |
At 31 August 2022 |
NET BOOK VALUE |
At 31 August 2022 |
At 31 August 2021 |
6. | INVESTMENT PROPERTY |
Total |
£ |
FAIR VALUE |
At 1 September 2021 |
Revaluations | 17,000 |
At 31 August 2022 |
NET BOOK VALUE |
At 31 August 2022 |
At 31 August 2021 |
Fair value at 31 August 2022 is represented by: |
£ |
Valuation in 2015 | 355,350 |
Valuation in 2016 | 29,150 |
Valuation in 2017 | 2,650 |
Valuation in 2018 | 9,850 |
Valuation in 2019 | 5,000 |
Valuation in 2020 | 111,000 |
Valuation in 2021 | 21,000 |
Valuation in 2022 | 17,000 |
551,000 |
ASHFARM LIMITED (REGISTERED NUMBER: 04890886) |
NOTES TO THE FINANCIAL STATEMENTS - continued |
FOR THE YEAR ENDED 31 AUGUST 2022 |
6. | INVESTMENT PROPERTY - continued |
If investment property had not been revalued it would have been included at the following historical cost: |
2022 | 2021 |
£ | £ |
Cost | 235,000 | 235,000 |
Investment property was valued on an open market basis on 31 August 2021 by the director . |
7. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
2022 | 2021 |
£ | £ |
Taxation and social security |
Other creditors |
8. | SECURED DEBTS |
Bank loans and overdrafts are secured under a debenture by way of a fixed and floating charge over all assets of the company. |
9. | PROVISIONS FOR LIABILITIES |
2022 | 2021 |
£ | £ |
Deferred tax | 61,245 | 58,015 |
Deferred |
tax |
£ |
Balance at 1 September 2021 |
Provided during year |
Balance at 31 August 2022 |
Deferred tax is recognised in respect of fair value gains on investment property. |
10. | CALLED UP SHARE CAPITAL |
Allotted, issued and fully paid: |
Number: | Class: | Nominal | 2022 | 2021 |
value: | £ | £ |
Ordinary | £1 | 1 | 1 |
ASHFARM LIMITED (REGISTERED NUMBER: 04890886) |
NOTES TO THE FINANCIAL STATEMENTS - continued |
FOR THE YEAR ENDED 31 AUGUST 2022 |
11. | RESERVES |
Fair |
value |
reserve |
£ |
At 1 September 2021 |
Net transfer to fair value |
reserve. | 13,770 |
At 31 August 2022 |
12. | RELATED PARTY DISCLOSURES |
During the year under review a property management fee of £9,400 (2021: £12,002) was charged. |
Shown within other creditors due in more than one year is an amount of £214,584 (2021: £179,772) due to the director. |