Registered number
13292968
ARSANA LIMITED
Unaudited Filleted Accounts
31 March 2022
ARSANA LIMITED
Report and accounts
Contents
Page
Company information 1
Directors' report 2
Chartered Accountants' report 3
Profit and loss account 4
Balance sheet 5
Notes to the accounts 6
ARSANA LIMITED
Company Information
Directors
Mr S Amin (appointed on 25 March 2021)
Mrs Y Musa (appointed on 25 March 2021)
Accountants
Key Business Consultants LLP
Unit 5 Drakes Courtyard
291 Kilburn High Road
London
NW6 7JR
Registered office
Unit 5 Drakes Courtyard
291 Kilburn High Road
London
NW6 7JR
Registered number
13292968
ARSANA LIMITED
Registered number: 13292968
Directors' Report
The directors present their report and accounts for the period ended 31 March 2022.
Principal activities
The company was incorporated on 25 March 2021 and began trading soon after. The company's principal activity during the period was renting out properties.
Directors
The following persons served as directors during the period:
Mr S Amin (appointed on 25 March 2021)
Mrs Y Musa (appointed on 25 March 2021)
Small company provisions
This report has been prepared in accordance with the provisions in Part 15 of the Companies Act 2006 applicable to companies subject to the small companies regime.
This report was approved by the board on 11 September 2022 and signed on its behalf.
Mr S Amin
Director
ARSANA LIMITED
Chartered Accountants' report to the board of directors on the preparation of the unaudited statutory accounts of ARSANA LIMITED for the period ended 31 March 2022
In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the accounts of ARSANA LIMITED for the period ended 31 March 2022 which comprise of the Profit and Loss Account, the Balance Sheet and the related notes from the company’s accounting records and from information and explanations you have given us.
As a practising member firm of the Institute of Chartered Accountants in England and Wales, we are subject to its ethical and other professional requirements which are detailed at
www.icaew.com/en/members/regulations-standards-and-guidance
Our work has been undertaken in accordance with ICAEW Technical Release 07/16 AAF.
Key Business Consultants LLP
Chartered Accountants
Unit 5 Drakes Courtyard
291 Kilburn High Road
London
NW6 7JR
11 September 2022
ARSANA LIMITED
Registered number: 13292968
Balance Sheet
as at 31 March 2022
Notes 2022
£
Fixed assets
Tangible assets 3 558,000
Current assets
Debtors 4 403
Cash at bank and in hand 38,445
38,848
Creditors: amounts falling due within one year 5 (587,600)
Net current liabilities (548,752)
Net assets 9,248
Capital and reserves
Called up share capital 100
Profit and loss account 9,148
Shareholders' funds 9,248
The directors are satisfied that the company is entitled to exemption from the requirement to obtain an audit under section 477 of the Companies Act 2006.
The members have not required the company to obtain an audit in accordance with section 476 of the Act.
The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts.
The accounts have been prepared and delivered in accordance with the special provisions applicable to companies subject to the small companies regime. The profit and loss account has not been delivered to the Registrar of Companies.
Mr S Amin
Director
Approved by the board on 11 September 2022
ARSANA LIMITED
Notes to the Accounts
for the period from 25 March 2021 to 31 March 2022
1 Accounting policies
Basis of preparation
The accounts have been prepared under the historical cost convention and in accordance with FRS 102, The Financial Reporting Standard applicable in the UK and Republic of Ireland (as applied to small entities by section 1A of the standard).
Turnover
Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover includes revenue earned from the sale of goods and from the rendering of services. Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods have transferred to the buyer. Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs.
Tangible fixed assets
Tangible fixed assets are measured at cost less accumulative depreciation and any accumulative impairment losses. Depreciation is provided on all tangible fixed assets, other than freehold land, at rates calculated to write off the cost, less estimated residual value, of each asset evenly over its expected useful life, as follows:
Freehold buildings no depreciation
Debtors
Short term debtors are measured at transaction price (which is usually the invoice price), less any impairment losses for bad and doubtful debts. Loans and other financial assets are initially recognised at transaction price including any transaction costs and subsequently measured at amortised cost determined using the effective interest method, less any impairment losses for bad and doubtful debts.
Creditors
Short term creditors are measured at transaction price (which is usually the invoice price). Loans and other financial liabilities are initially recognised at transaction price net of any transaction costs and subsequently measured at amortised cost determined using the effective interest method.
Taxation
A current tax liability is recognised for the tax payable on the taxable profit of the current and past periods. A current tax asset is recognised in respect of a tax loss that can be carried back to recover tax paid in a previous period. Deferred tax is recognised in respect of all timing differences between the recognition of income and expenses in the financial statements and their inclusion in tax assessments. 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. 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, except for revalued land and investment property where the tax rate that applies to the sale of the asset is used. Current and deferred tax assets and liabilities are not discounted.
1 Accounting policies (cont.)
Provisions
Provisions (ie liabilities of uncertain timing or amount) are recognised when there is an obligation at the reporting date as a result of a past event, it is probable that economic benefit will be transferred to settle the obligation and the amount of the obligation can be estimated reliably.
2 Employees 2022
Number
Average number of persons employed by the company 3
3 Tangible fixed assets
Land and buildings
£
Cost
Additions 558,000
At 31 March 2022 558,000
Depreciation
At 31 March 2022 -
Net book value
At 31 March 2022 558,000
4 Debtors 2022
£
Other debtors 403
5 Creditors: amounts falling due within one year 2022
£
Trade creditors 1,020
Taxation and social security costs 2,146
Other creditors 584,434
587,600
6 Related party transactions
At the period end, the company owed Mr S Amin and Mrs Y Musa £292,217, each.
7 Controlling party
Throughout the period the company was controlled by its directors, Mr S Amin and Mrs Y Musa.
8 Other information
ARSANA LIMITED is a private company limited by shares and incorporated in England. Its registered office is:
Unit 5 Drakes Courtyard
291 Kilburn High Road
London
NW6 7JR
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