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REGISTERED NUMBER: 11783297 (England and Wales)















UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 JANUARY 2022

FOR

ARTEN HOMES LIMITED

ARTEN HOMES LIMITED (REGISTERED NUMBER: 11783297)

CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JANUARY 2022










Page

Statement of Financial Position 1 to 2

Notes to the Financial Statements 3 to 7


ARTEN HOMES LIMITED (REGISTERED NUMBER: 11783297)

STATEMENT OF FINANCIAL POSITION
31 JANUARY 2022

31.1.22 31.1.21
Notes £    £   
FIXED ASSETS
Tangible assets 4 3,031 754
Investment property 5 803,443 461,461
806,474 462,215

CURRENT ASSETS
Debtors 6 12,407 9,259
Cash at bank 71,559 217,762
83,966 227,021
CREDITORS
Amounts falling due within one year 7 (241,373 ) (403,952 )
NET CURRENT LIABILITIES (157,407 ) (176,931 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

649,067

285,284

CREDITORS
Amounts falling due after more than one
year

8

(590,707

)

(237,253

)

PROVISIONS FOR LIABILITIES (19,664 ) (15,325 )
NET ASSETS 38,696 32,706

CAPITAL AND RESERVES
Called up share capital 100 100
Non-distributable reserve 83,831 65,333
Retained earnings (45,235 ) (32,727 )
38,696 32,706

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 January 2022.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 January 2022 in accordance with Section 476 of the Companies Act 2006.

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.

ARTEN HOMES LIMITED (REGISTERED NUMBER: 11783297)

STATEMENT OF FINANCIAL POSITION - continued
31 JANUARY 2022


The financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

In accordance with Section 444 of the Companies Act 2006, the Statement of Comprehensive Income has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 5 September 2022 and were signed on its behalf by:





H Gill - Director


ARTEN HOMES LIMITED (REGISTERED NUMBER: 11783297)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JANUARY 2022


1. STATUTORY INFORMATION

Arten Homes Limited is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address are as below:

Registered number: 11783297

Registered office: C/O D P C
Stone House
55 Stone Road Business Park
Stoke-On-Trent
ST4 6SR

The principal activity of the company is that of an investment property company.

2. ACCOUNTING POLICIES

Basis of preparing the financial statements
These financial statements have been prepared in accordance with Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" including the provisions of Section 1A "Small Entities" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention as modified by the revaluation of certain assets.

The financial statements are prepared in sterling, which is the functional currency of the entity.

Judgements and key sources of estimation uncertainty
The preparation of the financial statements requires management to make judgements, estimates and assumptions that affect the amounts reported. These estimates and judgements are continually reviewed and are based on experience and other factors, including expectations of future events that are believed to be reasonable under the circumstances.

Significant judgements

The judgements (apart from those involving estimations) that management has made in the process of applying the entity's accounting policies and that have the most significant effect on the amounts recognised in the financial statements are as follows:

Investment properties

The open market value of the investment properties has been determined by the directors, based on their experience of the market and the selling price of similar properties.

Revenue recognition
Turnover represents rental income which is recognised in the relevant rental period.

ARTEN HOMES LIMITED (REGISTERED NUMBER: 11783297)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 JANUARY 2022


2. ACCOUNTING POLICIES - continued

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Plant and machinery - 25% reducing balance
Computer equipment - 20% reducing balance

Tangible assets are initially recorded at cost, and subsequently stated at cost less any accumulated depreciation and impairment losses. Any tangible assets carried at revalued amounts are recorded at the fair value at the date of revaluation less any subsequent accumulated depreciation and subsequent accumulated impairment losses.

An increase in the carrying amount of an asset as a result of a revaluation, is recognised in other comprehensive income and accumulated in equity, except to the extent it reverses a revaluation decrease of the same asset previously recognised in profit or loss. A decrease in the carrying amount of an asset as a result of revaluation, is recognised in other comprehensive income to the extent of any previously recognised revaluation increase accumulated in equity in respect of that asset. Where a revaluation decrease exceeds the accumulated revaluation gains accumulated in equity in respect of that asset, the excess shall be recognised in profit or loss.

Investment property
Investment property is initially recorded at cost, which includes purchase price and any directly attributable expenditure.

Investment property is revalued to its fair value at each reporting date and any changes in fair value are recognised in profit or loss.

Financial instruments
A financial asset or a financial liability is recognised only when the entity becomes a party to the contractual provisions of the instrument.

Basic financial instruments are initially recognised at the transaction price, unless the arrangement constitutes a financing transaction, where it is recognised at the present value of the future payments discounted at a market rate of interest for a similar debt instrument.

Debt instruments are subsequently measured at amortised cost.

Financial assets that are measured at cost or amortised cost are reviewed for objective evidence of impairment at the end of each reporting date. If there is objective evidence of impairment, an impairment loss is recognised in profit or loss immediately.

For all equity instruments regardless of significance, and other financial assets that are individually significant, these are assessed individually for impairment. Other financial assets are either assessed individually or grouped on the basis of similar credit risk characteristics.

Any reversals of impairment are recognised in profit or loss immediately, to the extent that the reversal does not result in a carrying amount of the financial asset that exceeds what the carrying amount would have been had the impairment not previously been recognised.


ARTEN HOMES LIMITED (REGISTERED NUMBER: 11783297)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 JANUARY 2022


2. ACCOUNTING POLICIES - continued
Corporation tax
Taxation for the year comprises current and deferred tax. Tax is recognised in the Statement of Comprehensive Income, except to the extent that it relates to items recognised in other comprehensive income or directly in equity.

Current or deferred taxation assets and liabilities are not discounted.

Current tax is recognised at the amount of tax payable using the tax rates and laws that have been enacted or substantively enacted by the statement of financial position date.

Deferred tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the statement of financial position 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.

Going concern
The accounts have been prepared on the going concern basis. The directors believe this to be appropriate as they have expressed their willingness to support the business for the foreseeable future.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 2 (2021 - 2 ) .

4. TANGIBLE FIXED ASSETS
Plant and Computer
machinery equipment Totals
£    £    £   
COST
At 1 February 2021 - 942 942
Additions 3,238 - 3,238
At 31 January 2022 3,238 942 4,180
DEPRECIATION
At 1 February 2021 - 188 188
Charge for year 810 151 961
At 31 January 2022 810 339 1,149
NET BOOK VALUE
At 31 January 2022 2,428 603 3,031
At 31 January 2021 - 754 754

ARTEN HOMES LIMITED (REGISTERED NUMBER: 11783297)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 JANUARY 2022


5. INVESTMENT PROPERTY
Total
£   
COST OR VALUATION
At 1 February 2021 461,461
Additions 319,145
Revaluations 22,837
At 31 January 2022 803,443
NET BOOK VALUE
At 31 January 2022 803,443
At 31 January 2021 461,461

The directors consider the investment properties are stated at fair value as at 31 January 2022.

Cost or valuation at 31 January 2022 is represented by:
£   
Valuation in 2020 11,424
Valuation in 2021 69,234
Valuation in 2022 22,837
Cost 699,948
803,443

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.1.22 31.1.21
£    £   
Trade debtors 695 -
Other debtors - 1,499
Deferred tax asset 11,406 7,760
Prepayments and accrued income 306 -
12,407 9,259

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.1.22 31.1.21
£    £   
Other loans 15,000 160,010
Directors' loan accounts 220,690 241,985
Accruals and deferred income 5,683 1,957
241,373 403,952

ARTEN HOMES LIMITED (REGISTERED NUMBER: 11783297)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 JANUARY 2022


8. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
31.1.22 31.1.21
£    £   
Other loans - 1-2 years 175,010 -
Other loans - 2-5 years 30,000 -
Mortgage due over 5 years 385,697 237,253
590,707 237,253

Amounts falling due in more than five years:

Repayable otherwise than by instalments
Mortgage due over 5 years 385,697 237,253

The mortgages are secured by fixed charges over an investment properties.

9. EVENTS AFTER THE END OF THE REPORTING PERIOD

There were no significant events up to the date of the approval of the financial statements by the Board.

10. GOING CONCERN

The accounts have been prepared on the going concern basis. The directors believe this to be appropriate as they have expressed their willingness to support the business for the foreseeable future.