Caseware UK (AP4) 2022.0.179 2022.0.179 2023-03-312023-03-31132022-04-01falseNo description of principal activity14truetrue 03683701 2022-04-01 2023-03-31 03683701 2021-04-01 2022-03-31 03683701 2023-03-31 03683701 2022-03-31 03683701 c:Director2 2022-04-01 2023-03-31 03683701 d:Buildings d:LongLeaseholdAssets 2022-04-01 2023-03-31 03683701 d:Buildings d:LongLeaseholdAssets 2023-03-31 03683701 d:Buildings d:LongLeaseholdAssets 2022-03-31 03683701 d:PlantMachinery 2022-04-01 2023-03-31 03683701 d:PlantMachinery 2023-03-31 03683701 d:PlantMachinery 2022-03-31 03683701 d:PlantMachinery d:OwnedOrFreeholdAssets 2022-04-01 2023-03-31 03683701 d:OwnedOrFreeholdAssets 2022-04-01 2023-03-31 03683701 d:CurrentFinancialInstruments 2023-03-31 03683701 d:CurrentFinancialInstruments 2022-03-31 03683701 d:Non-currentFinancialInstruments 2023-03-31 03683701 d:Non-currentFinancialInstruments 2022-03-31 03683701 d:CurrentFinancialInstruments d:WithinOneYear 2023-03-31 03683701 d:CurrentFinancialInstruments d:WithinOneYear 2022-03-31 03683701 d:Non-currentFinancialInstruments d:AfterOneYear 2023-03-31 03683701 d:Non-currentFinancialInstruments d:AfterOneYear 2022-03-31 03683701 d:ShareCapital 2023-03-31 03683701 d:ShareCapital 2022-03-31 03683701 d:OtherMiscellaneousReserve 2022-04-01 2023-03-31 03683701 d:OtherMiscellaneousReserve 2023-03-31 03683701 d:OtherMiscellaneousReserve 2022-03-31 03683701 d:RetainedEarningsAccumulatedLosses 2023-03-31 03683701 d:RetainedEarningsAccumulatedLosses 2022-03-31 03683701 c:FRS102 2022-04-01 2023-03-31 03683701 c:Audited 2022-04-01 2023-03-31 03683701 c:FullAccounts 2022-04-01 2023-03-31 03683701 c:PrivateLimitedCompanyLtd 2022-04-01 2023-03-31 03683701 d:WithinOneYear 2023-03-31 03683701 d:WithinOneYear 2022-03-31 03683701 d:BetweenOneFiveYears 2023-03-31 03683701 d:BetweenOneFiveYears 2022-03-31 03683701 c:SmallCompaniesRegimeForAccounts 2022-04-01 2023-03-31 iso4217:GBP xbrli:pure

Registered number: 03683701










THE ARK CONFERENCE CENTRE LIMITED










FINANCIAL STATEMENTS

INFORMATION FOR FILING WITH THE REGISTRAR

FOR THE YEAR ENDED 31 MARCH 2023

 
THE ARK CONFERENCE CENTRE LIMITED
REGISTERED NUMBER: 03683701

STATEMENT OF FINANCIAL POSITION
AS AT 31 MARCH 2023

2023
2022
Note
£
£

Fixed assets
  

Tangible assets
 4 
3,317,211
3,363,934

Current assets
  

Stocks
  
13,427
10,520

Debtors: amounts falling due within one year
 5 
50,704
26,393

Cash at bank and in hand
  
950,385
974,742

  
1,014,516
1,011,655

Creditors: amounts falling due within one year
 6 
(107,823)
(173,295)

Net current assets
  
 
 
906,693
 
 
838,360

Total assets less current liabilities
  
4,223,904
4,202,294

Creditors: amounts falling due after more than one year
 7 
-
(1)

  

Net assets
  
4,223,904
4,202,293


Capital and reserves
  

Called up share capital 
  
1
1

Other reserves
 8 
5,733,970
5,733,970

Profit and loss account
 8 
(1,510,067)
(1,531,678)

  
4,223,904
4,202,293


Page 1

 
THE ARK CONFERENCE CENTRE LIMITED
REGISTERED NUMBER: 03683701
    
STATEMENT OF FINANCIAL POSITION (CONTINUED)
AS AT 31 MARCH 2023

The Company's financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies regime.

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

The Company has opted not to file the statement of income and retained earnings in accordance with provisions applicable to companies subject to the small companies' regime.

The financial statements were approved and authorised for issue by the board and were signed on its behalf by: 






Mrs S P Fell
Director

Date: 21 September 2023

The notes on pages 3 to 10 form part of these financial statements.

Page 2

 
THE ARK CONFERENCE CENTRE LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2023

1.


General information

The Company (03683701) is incorporated in England and Wales and is a privately owned company, limited by shares. The registered office address is Dinwoodie Drive, Basingstoke, Hampshire, RG24 9NN.

2.Accounting policies

 
2.1

Basis of preparation of financial statements

The financial statements have been prepared under the historical cost convention unless otherwise specified within these accounting policies and in accordance with Financial Reporting Standard 102, the Financial Reporting Standard applicable in the UK and the Republic of Ireland and the Companies Act 2006.

The preparation of financial statements in compliance with FRS 102 requires the use of certain critical accounting estimates. It also requires management to exercise judgment in applying the Company's accounting policies.

The following principal accounting policies have been applied:

 
2.2

Going concern

During Spring 2023 Hampshire Hospital Foundation Trust successfully relocated the majority of NHS Administrative teams situated in the Ark back to their offices within the hospital. This was the final stage of additional NHS use of the Ark following the Covid pandemic.
The Ark now has full use of all conferencing facilities and major refurbishment were undertaken with new carpets laid to prepare the building for the very successful number of large events held in June and July 2023.
Forwards sales continue to build with 60% increase expected in corporate sales this year. Additionally following a renegotiation of the electricity contract, we anticipate a reduction of 50% in our energy costs for the following year.

Page 3

 
THE ARK CONFERENCE CENTRE LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2023

2.Accounting policies (continued)

 
2.3

Revenue

Revenue is recognised to the extent that it is probable that the economic benefits will flow to the Company and the revenue can be reliably measured. Revenue is measured as the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. The following criteria must also be met before revenue is recognised:

Sale of goods

Revenue from the sale of goods is recognised when all of the following conditions are satisfied:
the Company has transferred the significant risks and rewards of ownership to the buyer;
the Company retains neither continuing managerial involvement to the degree usually associated with ownership nor effective control over the goods sold;
the amount of revenue can be measured reliably;
it is probable that the Company will receive the consideration due under the transaction; and
the costs incurred or to be incurred in respect of the transaction can be measured reliably.

Rendering of services

Revenue from a contract to provide services is recognised in the period in which the services are provided in accordance with the stage of completion of the contract when all of the following conditions are satisfied:
the amount of revenue can be measured reliably;
it is probable that the Company will receive the consideration due under the contract;
the stage of completion of the contract at the end of the reporting period can be measured reliably; and
the costs incurred and the costs to complete the contract can be measured reliably.

Revenue received in advance of the service being provided is deferred in accruals and deferred income until the criteria for income recognition are met.

 
2.4

Tangible fixed assets

Tangible fixed assets under the cost model are stated at historical cost less accumulated depreciation and any accumulated impairment losses. Historical cost includes expenditure that is directly attributable to bringing the asset to the location and condition necessary for it to be capable of operating in the manner intended by management.

The Company adds to the carrying amount of an item of fixed assets the cost of replacing part of such an item when that cost is incurred, if the replacement part is expected to provide incremental future benefits to the Company. The carrying amount of the replaced part is derecognised. Repairs and maintenance are charged to profit or loss during the period in which they are incurred.

Page 4

 
THE ARK CONFERENCE CENTRE LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2023

2.Accounting policies (continued)


2.4
Tangible fixed assets (continued)

Depreciation is charged so as to allocate the cost of assets less their residual value over their estimated useful lives, using the straight-line method.

Depreciation is provided on the following basis:

Long leasehold property
-
88 years straight line
Plant and machinery
-
5% - 50% straight line

The assets' residual values, useful lives and depreciation methods are reviewed, and adjusted prospectively if appropriate, or if there is an indication of a significant change since the last reporting date.

Gains and losses on disposals are determined by comparing the proceeds with the carrying amount and are recognised in profit or loss.

 
2.5

Stocks

Stocks are stated at the lower of cost and net realisable value, being the estimated selling price less costs to complete and sell. Cost is based on the cost of purchase on a first in, first out basis.
At each reporting date, stocks are assessed for impairment. If stock is impaired, the carrying amount is reduced to its selling price less costs to complete and sell. The impairment loss is recognised immediately in profit or loss.

 
2.6

Debtors

Short-term debtors are measured at transaction price, less any impairment.

 
2.7

Cash and cash equivalents

Cash is represented by cash in hand and deposits with financial institutions repayable without penalty on notice of not more than 24 hours. Cash equivalents are highly liquid investments that mature in no more than three months from the date of acquisition and that are readily convertible to known amounts of cash with insignificant risk of change in value.

 
2.8

Financial instruments

The Company has elected to apply the provisions of Section 11 “Basic Financial Instruments” of FRS 102 to all of its financial instruments.

Basic financial assets

Basic financial assets, which include trade and other receivables, cash and bank balances, are initially measured at their transaction price including transaction costs and are subsequently carried at their amortised cost using the effective interest method, less any provision for impairment, unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest.

Discounting is omitted where the effect of discounting is immaterial. The Company's cash and cash equivalents, trade and most other receivables due with the operating cycle fall into this category of financial instruments.
Page 5

 
THE ARK CONFERENCE CENTRE LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2023

2.Accounting policies (continued)


2.8
Financial instruments (continued)


Financial liabilities

Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instruments any contract that evidences a residual interest in the assets of the Company after the deduction of all its liabilities.

Basic financial liabilities, which include trade and other payables, bank loans and other loans are initially measured at their transaction price after transaction costs. When this constitutes a financing transaction, whereby the debt instrument is measured at the present value of the future receipts discounted at a market rate of interest. Discounting is omitted where the effect of discounting is immaterial.

Debt instruments are subsequently carried at their amortised cost using the effective interest rate method.

Trade payables are obligations to pay for goods and services that have been acquired in the ordinary course of business from suppliers. Trade payables are classified as current liabilities if the payment is due within one year. If not, they represent non-current liabilities. Trade payables are initially recognised at their transaction price and subsequently are measured at amortised cost using the effective interest method. Discounting is omitted where the effect of discounting is immaterial.

 
2.9

Creditors

Short-term creditors are measured at the transaction price. Other financial liabilities, including bank loans, are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method.

 
2.10

Operating leases: the Company as lessee

Rentals paid under operating leases are charged to profit or loss on a straight-line basis over the lease term.

 
2.11

Government grants

Grants are accounted under the accruals model as permitted by FRS 102.
Grants of a revenue nature are recognised in the Statement of Income and Retained Earnings in the same period as the related expenditure.

Page 6

 
THE ARK CONFERENCE CENTRE LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2023

2.Accounting policies (continued)

 
2.12

Pensions

Defined contribution pension plan

The Company operates a defined contribution plan for its employees. A defined contribution plan is a pension plan under which the Company pays fixed contributions into a separate entity. Once the contributions have been paid the Company has no further payment obligations.

The contributions are recognised as an expense in profit or loss when they fall due. Amounts not paid are shown in accruals as a liability in the Statement of Financial Position. The assets of the plan are held separately from the Company in independently administered funds.


3.


Employees

The average monthly number of employees during the year was as follows:


        2023
        2022
            No.
            No.







Staff
14
13

Page 7

 
THE ARK CONFERENCE CENTRE LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2023

4.


Tangible fixed assets





Long-term leasehold property
Plant and machinery
Total

£
£
£



Cost or valuation


At 1 April 2022
4,403,885
1,584,133
5,988,018


Additions
-
43,743
43,743


Disposals
-
(101,089)
(101,089)



At 31 March 2023

4,403,885
1,526,787
5,930,672



Depreciation


At 1 April 2022
1,209,847
1,414,237
2,624,084


Charge for the year on owned assets
38,935
50,732
89,667


Disposals
-
(100,290)
(100,290)



At 31 March 2023

1,248,782
1,364,679
2,613,461



Net book value



At 31 March 2023
3,155,103
162,108
3,317,211



At 31 March 2022
3,194,038
169,896
3,363,934


5.


Debtors

2023
2022
£
£


Trade debtors
23,262
10,386

Other debtors
2,511
4,780

Prepayments and accrued income
24,931
11,227

50,704
26,393


Page 8

 
THE ARK CONFERENCE CENTRE LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2023

6.


Creditors: Amounts falling due within one year

2023
2022
£
£

Trade creditors
24,170
31,931

Other taxation and social security
8,291
8,016

Other creditors
1,308
1,290

Accruals and deferred income
74,054
132,058

107,823
173,295



7.


Creditors: Amounts falling due after more than one year

2023
2022
£
£

Other creditors
-
1



8.


Reserves

Other reserves

Since incorporation the Company has received £5,733,970 (2022 - £5,733,970) by way of capital contributions from the Ark Medical Trust in order to strengthen its capital base.


9.


Pension commitments

The Company operates a defined contributions pension scheme. The assets of the scheme are held
separately from those of the Company in an independently administered fund. The pension cost charge
represents contributions payable by the Company to the fund and amounted to £6,723 (2022 - £5,757).
Contributions totalling £1,306 (2022 - £1,289) were payable to the fund at the reporting date.


10.


Commitments under operating leases

At 31 March 2023 the Company had future minimum lease payments due under non-cancellable operating leases for each of the following periods:

2023
2022
£
£


Not later than 1 year
11,108
15,871

Later than 1 year and not later than 5 years
3,701
14,809

14,809
30,680

Page 9

 
THE ARK CONFERENCE CENTRE LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2023

11.


Related party transactions

The Company has taken advantage of the exemption not to disclose transactions with wholly owned members of the group.


12.


Controlling party

The ultimate parent company is Ark Medical Trust, a company limited by guarantee and incorporated in England. It's registered office address is 39 Winchester Street, Basingstoke, Hampshire, RG21 1EQ.
This is the smallest and largest group to consolidate these financial statements. Copies of the financial statements can be obtained from the Company's registered office.


13.


Auditor's information

The auditor's report on the financial statements for the year ended 31 March 2023 was unqualified.

The audit report was signed on 2 October 2023 by Mark Dickinson FCA (Senior Statutory Auditor) on behalf of Shaw Gibbs (Audit) Limited.

 
Page 10