Ashe House Limited - Abbreviated accounts 16.3

REGISTERED NUMBER: SC498435 (Scotland)

ABBREVIATED UNAUDITED ACCOUNTS

FOR THE PERIOD 20 FEBRUARY 2015 TO 31 MARCH 2016

FOR

ASHE HOUSE LIMITED

Page

Company Information

1

Abbreviated Balance Sheet

2

Notes to the Abbreviated Accounts

3

DIRECTOR:

M L Gizzi

SECRETARY:

Mrs V M Gizzi

REGISTERED OFFICE:

c/o Consilium Chartered Accountants

169 West George Street

Glasgow

G2 2LB

BUSINESS ADDRESS:

11 Royal Exchange Square

Glasgow

G1 3AJ

REGISTERED NUMBER:

SC498435 (Scotland)

ACCOUNTANTS:

Consilium Chartered Accountants

169 West George Street

Glasgow

G2 2LB

FIXED ASSETS

Investments

2

1,473,096

CURRENT ASSETS

Cash at bank and in hand

102

CREDITORS

Amounts falling due within one year

1,479,646

NET CURRENT LIABILITIES

(1,479,544

)

TOTAL ASSETS LESS CURRENT LIABILITIES

(6,448

)

CAPITAL AND RESERVES

Called up share capital

3

100

Profit and loss account

(6,548

)

SHAREHOLDERS' FUNDS

(6,448

)

The Company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the period ended 31 March 2016.

The members have not required the Company to obtain an audit of its financial statements for the period ended 31 March 2016 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 abbreviated accounts have been prepared in accordance with the special provisions of Part 15 of the Companies Act 2006 relating to small companies.

The financial statements were approved by the director on 21 December 2016 and were signed by:

M L Gizzi - Director

1.	ACCOUNTING POLICIES

Accounting convention

The financial statements have been prepared under the historical cost convention and in accordance with the Financial

Reporting Standard for Smaller Entities (effective January 2015).

The Balance Sheet shows that liabilities exceed assets by £6,448 including a liability of £1,479,646 to the director and

majority shareholder. The director has indicated his willingness to continue to support the Company and, as such, considers

it appropriate to prepare the financial statements on a going concern basis.

Preparation of consolidated financial statements

The financial statements contain information about Ashe House Limited as an individual Company and do not contain

consolidated financial information as the parent of a group. The director has taken the decision not to prepare consolidated

financial statements in accordance with Section 398 of the Companies Act 2006.

Exemption from preparing a cash flow statement

The Company has adopted the Financial Reporting Standard for Smaller Entities (effective January 2015) and is

consequently exempt from the requirement to include a cash flow statement in the financial statements.

Financial instruments

Financial instruments are classified and accounted for as financial assets, financial liabilities or equity instruments,

according to the substance of the contractual arrangement.

Financial instruments which are assets are stated at cost less any provision for impairment. Financial liabilities are stated at

principal capital amounts outstanding at the period end. Issue costs relating to financial liabilities are deducted from the

outstanding balance and are amortised over the period to the due date for repayment of the financial liability.

An equity instrument is any contract that evidences a residual interest in the assets of the Company after deducting all of

its liabilities. A financial liability is any contractual arrangement for an entity to deliver cash to the holder of the associated

financial instrument.

Investments

Investments in associated undertakings are stated at cost less any provision for impairment in value.

2.	FIXED ASSET INVESTMENTS

Investments

other

than

loans

£

COST

Additions

1,479,500

At 31 March 2016

1,479,500

PROVISIONS

Impairments

6,404

At 31 March 2016

6,404

NET BOOK VALUE

At 31 March 2016

1,473,096

The Company's investments at the balance sheet date include the following:

Keystone Assets Scotland LLP

Nature of business: Property development and investment

% capital held: 54.5%

2016

£

Aggregate capital and reserves

2,701,203

Loss for the year

(257,798

)

3.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

value:

£

95

A Ordinary

£1

95

5

B Ordinary

£1

5

100

The following shares were issued during the period for cash at par :

95 A Ordinary shares of £1

5 B Ordinary shares of £1

Both classes of shares rank pari passu in all respects. However when paying dividends the Company may differentiate

between the classes of share to which payments are being made in respect of the amount or percentage of dividend

payable.