Company registration number:
11179693
ARDA-ROC Europe Limited
Unaudited filleted financial statements
31 January 2023
ARDA-ROC EUROPE LIMITED
STATEMENT OF FINANCIAL POSITION
31 JANUARY 2023
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2023 |
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2022 |
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Note |
$ |
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$ |
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$ |
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$ |
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|
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|
|
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Current assets |
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|
|
|
|
|
|
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Debtors |
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5 |
1 |
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|
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1 |
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Cash at bank and in hand |
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2,462 |
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|
|
1,405 |
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|
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|
_______ |
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_______ |
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2,463 |
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1,406 |
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Creditors: amounts falling due |
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within one year |
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7 |
(
1,154) |
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|
(
1,143) |
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_______ |
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_______ |
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Net current assets |
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1,309 |
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263 |
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_______ |
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_______ |
Total assets less current liabilities |
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1,309 |
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263 |
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_______ |
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_______ |
Net assets |
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1,309 |
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263 |
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|
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_______ |
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_______ |
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Capital and reserves |
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Called up share capital |
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|
|
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1 |
|
|
|
1 |
Profit and loss account |
|
8 |
|
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1,308 |
|
|
|
262 |
|
|
|
|
|
_______ |
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|
_______ |
Shareholders funds |
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1,309 |
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263 |
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_______ |
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_______ |
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For the year ending 31 January 2023 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 financial statements for the year in question in accordance with section 476;
-
The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements.
These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with Section 1A of FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.
In accordance with section 444 of the Companies Act 2006, the statement of comprehensive income has not been delivered.
These financial statements were approved by the
board of directors
and authorised for issue on
02 October 2023
, and are signed on behalf of the board by:
Mr Paul Gardner Bougaard
Director
Company registration number:
11179693
ARDA-ROC EUROPE LIMITED
NOTES TO THE FINANCIAL STATEMENTS
YEAR ENDED 31 JANUARY 2023
1.
General information
The company is a private company limited by shares, registered in England and Wales. The address of the registered office is No.1 London Bridge, London, SE1 9BG.
Principal activity
The principal activity of the company is to handle the donations that American Resort Development Assoication - Resort Owners' Coalition wish to make in Europe.
2.
Statement of compliance
These financial statements have been prepared in compliance with the provisions of FRS 102, Section 1A, 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.
3.
Accounting policies
Basis of preparation
The financial statements have been prepared on the historical cost basis, as modified by the revaluation of certain financial assets and liabilities and investment properties measured at fair value through profit or loss.
The financial statements are prepared in US Dollars, which is the functional currency of the entity.
Going concern
The directors and parent company have expressed their continued support of the business and therefore believe the going concern basis of preparation to be appropriate.
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.Accounting estimates and assumptions are made concerning the future and, by their nature, will rarely equal the related actual outcome.
Turnover
Turnover is measured at the fair value of the consideration received or receivable for goods supplied and services rendered, net of discounts and Value Added Tax.
Revenue from the sale of goods is recognised when the significant risks and rewards of ownership have transferred to the buyer (usually on despatch of the goods); the amount of revenue can be measured reliably; it is probable that the associated economic benefits will flow to the entity; and the costs incurred or to be incurred in respect of the transactions can be measured reliably.
Taxation
The company only exists in order to pass donations from it's parent company to members within Europe and therefore as such is not liable to corporation tax.
Financial instruments
A financial asset or a financial liability is recognised only when the company 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.
4.
Employee numbers
The average number of persons employed by the company during the year amounted to
2
(2022:
2
).
5.
Debtors
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2023 |
2022 |
|
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$ |
$ |
|
Other debtors |
|
1 |
1 |
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_______ |
_______ |
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6.
Cash and cash equivalents
|
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2023 |
2022 |
|
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|
$ |
$ |
|
Cash at bank and in hand |
|
2,462 |
1,405 |
|
|
|
_______ |
_______ |
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7.
Creditors: amounts falling due within one year
|
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2023 |
2022 |
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$ |
$ |
|
Accruals and deferred income |
|
1,154 |
1,143 |
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_______ |
_______ |
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8.
Reserves
Profit and loss account:This reserve records retained earnings and accumulated losses.
9.
Related party transactions
During the year the company received donations totalling $17,000 from it's parent company (31 January 2022: $2,500). The company made donations of $15,000 in the year to a connected company (31 January 2022: $-).