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Registration number: 13068583

Aro Enterprises Limited

Annual Report and Unaudited Financial Statements

for the Period from 7 December 2020 to 31 March 2022

 

Aro Enterprises Limited

Contents

Company Information

1

Balance Sheet

2

Notes to the Unaudited Financial Statements

3 to 6

 

Aro Enterprises Limited

Company Information

Director

AL Waldock-Goude

Registered office

5 Ducketts Wharf
South Street
Bishop's Stortford
Hertfordshire
CM23 3AR

Accountants

Mansell & Co
Chartered Certified Accountants
5 Ducketts Wharf
South Street
Bishop's Stortford
Hertfordshire
CM23 3AR

 

Aro Enterprises Limited

(Registration number: 13068583)
Balance Sheet as at 31 March 2022

Note

2022
£

Fixed assets

 

Tangible assets

4

17,625

Investment property

5

726,000

 

743,625

Current assets

 

Debtors

6

1,228

Cash at bank and in hand

 

162,798

 

164,026

Creditors: Amounts falling due within one year

7

(3,610)

Net current assets

 

160,416

Net assets

 

904,041

Capital and reserves

 

Called up share capital

8

895,400

Retained earnings

8,641

Shareholders' funds

 

904,041

For the financial period ending 31 March 2022 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Director's responsibilities:

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

The director acknowledges her 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 director on 7 September 2022
 

.........................................
AL Waldock-Goude
Director

 

Aro Enterprises Limited

Notes to the Unaudited Financial Statements for the Period from 7 December 2020 to 31 March 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:
5 Ducketts Wharf
South Street
Bishop's Stortford
Hertfordshire
CM23 3AR
England

These financial statements were authorised for issue by the director on 7 September 2022.

2

Accounting policies

Summary of significant accounting policies and key accounting estimates

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.

Statement of compliance

These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A smaller entities - 'The Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland' and the Companies Act 2006 (as applicable to companies subject to the small companies' regime).

Basis of preparation

These financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.

Revenue recognition

Turnover comprises the fair value of the consideration received or receivable for the sale of goods and provision of services in the ordinary course of the company’s activities. Turnover is shown net of sales/value added tax, returns, rebates and discounts.

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.

Tangible assets

Tangible assets are stated in the balance sheet at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.

The cost of tangible assets includes directly attributable incremental costs incurred in their acquisition and installation.

Depreciation

Depreciation is charged so as to write off the cost of assets, other than land and properties under construction over their estimated useful lives, as follows:

Asset class

Depreciation method and rate

Motor vehicles

25% reducing balance basis

 

Aro Enterprises Limited

Notes to the Unaudited Financial Statements for the Period from 7 December 2020 to 31 March 2022

Investment property

Investment property is carried at fair value, derived from the current market prices for comparable real estate determined annually by external valuers. The valuers use observable market prices, adjusted if necessary for any difference in the nature, location or condition of the specific asset. Changes in fair value are recognised in profit or loss.

Cash and cash equivalents

Cash and cash equivalents comprise cash on hand and call deposits, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value.

Trade debtors

Trade debtors are amounts due from customers for merchandise sold or services performed in the ordinary course of business.

Trade debtors are recognised initially at the transaction price. They are subsequently measured at amortised cost using the effective interest method, less provision for impairment. 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 according to the original terms of the receivables.

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 initially at the transaction price and subsequently measured at amortised cost using the effective interest method.

Share capital

Ordinary shares are classified as equity. Equity instruments are measured at the fair value of the cash or other resources received or receivable, net of the direct costs of issuing the equity instruments. If payment is deferred and the time value of money is material, the initial measurement is on a present value basis.

Dividends

Dividend distribution to the company’s shareholders is recognised as a liability in the financial statements in the reporting period in which the dividends are declared.

3

Staff numbers

The average number of persons employed by the company (including the director) during the period, was 1.

 

Aro Enterprises Limited

Notes to the Unaudited Financial Statements for the Period from 7 December 2020 to 31 March 2022

4

Tangible assets

Motor vehicles
 £

Total
£

Cost or valuation

Additions

23,500

23,500

At 31 March 2022

23,500

23,500

Depreciation

Charge for the period

5,875

5,875

At 31 March 2022

5,875

5,875

Carrying amount

At 31 March 2022

17,625

17,625

5

Investment properties

2022
£

Acquired through business combinations

726,000

At 31 March

726,000

The valuations made as at 31 March 2022 were made by the directors, on an open market value for existing use basis.

6

Debtors

Current

2022
£

Prepayments

1,228

 

1,228

 

Aro Enterprises Limited

Notes to the Unaudited Financial Statements for the Period from 7 December 2020 to 31 March 2022

7

Creditors

Creditors: amounts falling due within one year

Note

2022
£

Due within one year

 

Amounts owed to group undertakings and undertakings in which the company has a participating interest

2,000

Taxation and social security

 

300

Accruals and deferred income

 

1,310

 

3,610

8

Share capital

Allotted, called up and fully paid shares

 

2022

 

No.

£

Ordinary of £1 each

895,400

895,400