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Registration number: 08485997

Arboury Ltd

Annual Report and Unaudited Financial Statements

for the Year Ended 5 April 2022

 

Arboury Ltd

(Registration number: 08485997)
Balance Sheet as at 5 April 2022

Note

2022
£

2021
£

Fixed assets

 

Investment property

4

101,000

96,105

Current assets

 

Debtors

5

1,088

2,114

Cash at bank and in hand

 

1,128

710

 

2,216

2,824

Creditors: Amounts falling due within one year

6

(25,528)

(22,185)

Net current liabilities

 

(23,312)

(19,361)

Total assets less current liabilities

 

77,688

76,744

Creditors: Amounts falling due after more than one year

6

(79,984)

(80,595)

Net liabilities

 

(2,296)

(3,851)

Capital and reserves

 

Called up share capital

7

2

2

Other reserves

3,671

-

Profit and loss account

(5,969)

(3,853)

Total equity

 

(2,296)

(3,851)

For the financial year ending 5 April 2022 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Directors' responsibilities:

The members have not required the company to obtain an audit of its accounts for the year in question in accordance with section 476; and

The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

These financial statements have been prepared in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006.

These financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime and the option not to file the Profit and Loss Account has been taken.

Approved and authorised by the Board on 18 August 2022 and signed on its behalf by:
 



 

Mr D Potter
Director

 

Arboury Ltd

Notes to the Financial Statements for the Year Ended 5 April 2022

1

General information

The company is a private company limited by share capital, incorporated in England and Wales.

The address of its registered office is:
32 Wigford Road
Dosthill
Tamworth
Staffordshire
B77 1LY

2

Accounting policies

Basis of preparation

These financial statements have been prepared using the historical cost convention in accordance with Financial Reporting Standard 102 Section 1A - 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' and the Companies Act 2006.

The presentation currency is sterling.

The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.

Going concern

The financial statements have been prepared on a going concern basis.

Revenue recognition

Turnover comprises rental income received or receivable in the ordinary course of the company's activities.

The company recognises revenue when:

The amount of revenue can be reliably measured;
it is probable that future economic benefits will flow to the entity;
and specific criteria have been met for each of the company's activities.

Tax policies
The current tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the reporting date.

Deferred Tax
Deferred tax is recognised in respect of all timing differences between taxable profits and profits reported in the financial statements.

Unrelieved tax losses and other deferred tax assets are recognised when it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits.

Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date and that are expected to apply to the reversal of the timing difference.

Investment property

Investment properties are measured at fair value at each reporting date with changes in fair value recognised in the profit and loss account.

Cash

Cash comprises cash on hand and all deposits.

 

Arboury Ltd

Notes to the Financial Statements for the Year Ended 5 April 2022

Trade debtors

Trade debtors are amounts due from tenants for rent receivable and other associated letting fees in the ordinary course of the business.

Trade debtors are recognised at the transaction price. A provision for the impairment of trade debtors is established when there is objective evidence that the company will not be able to collect all amounts due.

Trade creditors

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Accounts payable are classified as current liabilities if the company does not have an unconditional right, at the end of the reporting period, to defer settlement of the creditor for at least twelve months after the reporting date. If there is an unconditional right to defer settlement for at least twelve months after the reporting date, they are presented as non-current liabilities.

Trade creditors are recognised at the transaction price.

Borrowings

Interest-bearing borrowings are initially recorded at fair value, net of transaction costs. Interest-bearing borrowings are subsequently carried at amortised cost, with the difference between the proceeds, net of transaction costs, and the amount due on redemption being recognised as a charge to the Profit and Loss Account over the period of the relevant borrowing.

Interest expense is recognised on the basis of the effective interest method and is included in interest payable and similar charges.

Borrowings are classified as current liabilities unless the company has an unconditional right to defer settlement of the liability for at least twelve months after the reporting date.

3

Staff numbers

The average number of persons employed by the company during the year was 0 (2021 - 0).

4

Investment properties

2022
£

2021
£

At 6 April

96,105

96,105

Fair value adjustments

4,895

-

At 5 April

101,000

96,105

The properties were valued by the directors at their market value using current market data for similar properties in the same areas.
 

5

Debtors

2022
£

2021
£

Deferred tax asset

1,088

1,607

Prepayments and accrued income

-

507

1,088

2,114

 

Arboury Ltd

Notes to the Financial Statements for the Year Ended 5 April 2022

6

Creditors

Creditors: amounts falling due within one year

2022
£

2021
£

Bank loans

296

-

Accruals and deferred income

1,776

1,434

Other creditors

956

375

Directors' loans

22,500

20,376

25,528

22,185

Creditors include a bank loan which is secured by a government backed guarantee in the sum of £296 (2021 - £nil).

Creditors: amounts falling due after more than one year

2022
£

2021
£

Bank loans

79,984

80,595

79,984

80,595

Creditors include a bank loan which is secured by a government backed guarantee along with a loan secured against assets of the company and by a negative pledge in the sum of £79,984 (2021- £80,595). Of this amount, £78,576 is repayable, other than by instalments, after more than five years (2021 - £78,595).

7

Share capital

Allotted, called up and fully paid shares

 

2022

2021

 

No.

£

No.

£

Ordinary share of £1 each

2

2

2

2

         

8

Related party transactions

Directors' Loan

The directors' provided the company with a loan on which no interest was charged.