ASP Properties Limited - Accounts to registrar (filleted) - small 18.2
ASP Properties Limited - Accounts to registrar (filleted) - small 18.2
| REGISTERED NUMBER: |
| A.S.P. PROPERTIES LIMITED |
| UNAUDITED FINANCIAL STATEMENTS |
| FOR THE YEAR ENDED 31 MAY 2018 |
| A.S.P. PROPERTIES LIMITED (REGISTERED NUMBER: 01620274) |
| CONTENTS OF THE FINANCIAL STATEMENTS |
| FOR THE YEAR ENDED 31 MAY 2018 |
| Page |
| Company Information | 1 |
| Balance Sheet | 2 |
| Notes to the Financial Statements | 3 |
| A.S.P. PROPERTIES LIMITED |
| COMPANY INFORMATION |
| FOR THE YEAR ENDED 31 MAY 2018 |
| DIRECTORS: |
| REGISTERED OFFICE: |
| REGISTERED NUMBER: |
| ACCOUNTANTS: |
| Chartered Accountants |
| Elfed House |
| Oak Tree Court |
| Cardiff Gate Business Park |
| CARDIFF |
| County of Cardiff |
| CF23 8RS |
| A.S.P. PROPERTIES LIMITED (REGISTERED NUMBER: 01620274) |
| BALANCE SHEET |
| 31 MAY 2018 |
| 2018 | 2017 |
| Notes | £ | £ |
| FIXED ASSETS |
| Tangible assets | 4 |
| CURRENT ASSETS |
| Debtors | 5 |
| Cash at bank and in hand |
| CREDITORS |
| Amounts falling due within one year | 6 | ( |
) | ( |
) |
| NET CURRENT ASSETS |
| TOTAL ASSETS LESS CURRENT LIABILITIES |
| PROVISIONS FOR LIABILITIES | ( |
) | ( |
) |
| NET ASSETS |
| CAPITAL AND RESERVES |
| Called up share capital | 7 |
| Revaluation reserve |
| Capital redemption reserve |
| Retained earnings |
| SHAREHOLDERS' FUNDS |
| The directors acknowledge their 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. |
| In accordance with Section 444 of the Companies Act 2006, the Profit and loss account has not been delivered. |
| The financial statements were approved for issue by the Board of Directors on by: |
| A.S.P. PROPERTIES LIMITED (REGISTERED NUMBER: 01620274) |
| NOTES TO THE FINANCIAL STATEMENTS |
| FOR THE YEAR ENDED 31 MAY 2018 |
| 1. | STATUTORY INFORMATION |
| ASP Properties 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. |
| The company's functional and presentational currency in the financial statements is Sterling (£), rounded to the |
| nearest pound. |
| The significant accounting policies applied in the presentation of these financial statements are set out below. These |
| policies have been consistently applied to all years presented unless otherwise stated. |
| 2. | ACCOUNTING POLICIES |
| Basis of preparing the financial statements |
| There have been no material departures from Financial Reporting Standard 102 1A other than that noted below in |
| respect of freehold properties. |
| Turnover |
| The turnover shown in the profit and loss account represents takings from the provision of guest house |
| accommodation during the year, excluding value added tax. |
| Tangible fixed assets |
| Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life. |
| Freehold property | - nil as the residual value of the property is considered to be at |
| least equal to its cost |
| Fixtures and fittings | - 15% on reducing balance |
| Computer equipment | - 33 % on reducing balance |
| The director does not consider it appropriate to depreciate the freehold property as the residual value is equal to or |
| greater than the value at which the property is carried in the balance sheet and the property is subject to regular |
| refurbishment and maintenance work. This does not comply with the requirements of the Financial Reporting |
| Standard 102 1A which requires all tangible fixed assets to be depreciated. |
| Current tax |
| Current tax represents the amount expected to be paid or recovered in respect of taxable profits for the year and is |
| calculated using the tax rates and laws that have been enacted or substantively enacted at the balance sheet date. |
| Deferred tax |
| Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance |
| sheet 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. |
| Financial instruments |
| Basic financial instruments are recognised at amortised cost. |
| 3. | EMPLOYEES AND DIRECTORS |
| The average number of employees during the year was |
| A.S.P. PROPERTIES LIMITED (REGISTERED NUMBER: 01620274) |
| NOTES TO THE FINANCIAL STATEMENTS - continued |
| FOR THE YEAR ENDED 31 MAY 2018 |
| 4. | TANGIBLE FIXED ASSETS |
| Fixtures |
| Freehold | and | Computer |
| property | fittings | equipment | Totals |
| £ | £ | £ | £ |
| COST |
| At 1 June 2017 |
| and 31 May 2018 |
| DEPRECIATION |
| At 1 June 2017 |
| Charge for year |
| At 31 May 2018 |
| NET BOOK VALUE |
| At 31 May 2018 |
| At 31 May 2017 |
| The freehold property was revalued in November 1998, no further revaluations have been recognised in the financial |
| statements in accordance with applicable accounting standards. |
| The original historical cost of the freehold property was £38,237 and subsequently a further £59,990 has been |
| expended of which £30,583 was after the valuation in 1998, which valued the property at £200,000. |
| 5. | DEBTORS |
| 2018 | 2017 |
| £ | £ |
| Amounts falling due within one year: |
| Director's current account | - | 32,690 |
| Amounts falling due after more than one year: |
| Other debtors |
| Aggregate amounts |
| 6. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
| 2018 | 2017 |
| £ | £ |
| Corporation tax |
| Social security and other taxes |
| VAT | - | 8,634 |
| Accruals and deferred income |
| 7. | CALLED UP SHARE CAPITAL |
| Allotted, issued and fully paid: |
| Number: | Class: | Nominal | 2018 | 2017 |
| value: | £ | £ |
| Ordinary | £1 | 2 | 2 |
| A.S.P. PROPERTIES LIMITED (REGISTERED NUMBER: 01620274) |
| NOTES TO THE FINANCIAL STATEMENTS - continued |
| FOR THE YEAR ENDED 31 MAY 2018 |
| 8. | DIRECTORS' ADVANCES, CREDITS AND GUARANTEES |
| The following advances and credits to a director subsisted during the years ended 31 May 2018 and 31 May 2017: |
| 2018 | 2017 |
| £ | £ |
| Balance outstanding at start of year |
| Amounts advanced |
| Amounts repaid | ( |
) | ( |
) |
| Amounts written off | - | - |
| Amounts waived | - | - |
| Balance outstanding at end of year |
| Interest has been charged on the above loan at a commercial rate. There are no fixed terms of repayment. |