Company registration number SC524620 (Scotland)
ARINVE LIMITED
UNAUDITED FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2023
PAGES FOR FILING WITH REGISTRAR
ARINVE LIMITED
CONTENTS
Page
Balance sheet
1
Notes to the financial statements
2 - 4
ARINVE LIMITED
BALANCE SHEET
AS AT
31 MARCH 2023
31 March 2023
- 1 -
2023
2022
Notes
£
£
£
£
Fixed assets
Investments
4
1,818,949
1,038,624
Current assets
Debtors
5
4,572
1,428,760
Cash at bank and in hand
454
902
5,026
1,429,662
Creditors: amounts falling due within one year
6
(1,484,696)
(1,464,190)
Net current liabilities
(1,479,670)
(34,528)
Net assets
339,279
1,004,096
Capital and reserves
Called up share capital
7
12,999
12,999
Share premium account
1,517,670
1,517,670
Profit and loss reserves
(1,191,390)
(526,573)
Total equity
339,279
1,004,096

The directors of the company have elected not to include a copy of the profit and loss account within the financial statements.true

For the financial year ended 31 March 2023 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.

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.

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

The financial statements were approved by the board of directors and authorised for issue on 11 October 2023 and are signed on its behalf by:
K KELLY-WATT
K Kelly-Watt
Director
Company Registration No. SC524620
ARINVE LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2023
- 2 -
1
Accounting policies
Company information

Arinve Limited is a private company limited by shares incorporated in Scotland. The registered office is Joseph House, Denmore Road, Bridge Of Don, Aberdeen, AB23 8JW.

1.1
Accounting convention

These financial statements have been prepared in accordance with FRS 102 “The Financial Reporting Standard applicable in the UK and Republic of Ireland” (“FRS 102”) and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime. The disclosure requirements of section 1A of FRS 102 have been applied other than where additional disclosure is required to show a true and fair view.

The financial statements are prepared in sterling, which is the functional currency of the company. Monetary amounts in these financial statements are rounded to the nearest £.

The financial statements have been prepared under the historical cost convention.The principal accounting policies adopted are set out below.

1.2
Going concern

The directortrues, having made due and careful enquiry, are of opinion that the Company has adequate working capital to execute its operations over the next 12 months. At the year end, the company had net current liabilities of £1,479,670 however included within creditors is an amount due to a company under common control of £1,479,362. This amount will not be repaid until future cash flow allows. The directors, therefore, have made an informed judgement, at the time of approving the financial statements, that there is a reasonable expectation that the Company has adequate resources to continue in operational existence for the foreseeable future.

 

As a result, the directors have continued to adopt the going concern basis of accounting in preparing the annual financial statements.

1.3
Fixed asset investments

Investments in listed company shares are remeasured to market value at each Balance sheet date. Gains and losses on remeasurement are recognised in profit or loss for the period.

 

Other investments are stated at historic cost less impairment.

1.4
Cash and cash equivalents

Cash and cash equivalents are basic financial assets and include cash in hand, deposits held at call with banks, other short-term liquid investments with original maturities of three months or less, and bank overdrafts. Bank overdrafts are shown within borrowings in current liabilities.

1.5
Financial instruments

The Company only enters into basic financial instruments transactions that result in the recognition of financial assets and liabilities like trade and other debtors and creditors, loans from banks and other third parties, loans to related parties and investments. These are measured at amortised cost, except for investments in listed company shares which are measured at fair value, and are assessed at the end of each reporting period for objective evidence of impairment. If objective evidence of impairment is found, an impairment loss is recognised in the Statement of comprehensive income.

1.6
Foreign exchange

Transactions in currencies other than pounds sterling are recorded at the rates of exchange prevailing at the dates of the transactions. At each reporting end date, monetary assets and liabilities that are denominated in foreign currencies are retranslated at the rates prevailing on the reporting end date. Gains and losses arising on translation in the period are included in profit or loss.

ARINVE LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2023
- 3 -
2
Exceptional item
2023
2022
£
£
Expenditure
Loans written off
624,743
-
3
Employees

The average monthly number of persons (including directors) employed by the company during the year was:

2023
2022
Number
Number
2
2
4
Fixed asset investments
2023
2022
£
£
Listed investments
1,346,955
566,630
Other investments
471,994
471,994
1,818,949
1,038,624
Movements in fixed asset investments
Investments
Other
Total
£
£
£
Cost or valuation
At 1 April 2022
566,630
471,994
1,038,624
Additions
800,000
-
800,000
Fair value movement
(19,675)
-
(19,675)
At 31 March 2023
1,346,955
471,994
1,818,949
Carrying amount
At 31 March 2023
1,346,955
471,994
1,818,949
At 31 March 2022
566,630
471,994
1,038,624
5
Debtors
2023
2022
Amounts falling due within one year:
£
£
Trade debtors
4,542
4,017
Other debtors
30
1,424,743
4,572
1,428,760
ARINVE LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2023
- 4 -
6
Creditors: amounts falling due within one year
2023
2022
£
£
Trade creditors
180
-
0
Other creditors
1,479,362
1,459,065
Accruals and deferred income
5,154
5,125
1,484,696
1,464,190
7
Share capital
2023
2022
2023
2022
Ordinary share capital
Number
Number
£
£
Issued and fully paid
Ordinary shares of £1 each
11,049
11,049
11,049
11,049
Ordinary B shares of £1 each
1,950
1,950
1,950
1,950
12,999
12,999
12,999
12,999
8
Related party transactions

During the year, the company made advances of £4,103 to a company under common control. Credits of £24,400 were received, resulting in amounts due by the company at the year end of £1,479,362 (2022 - £1,459,065).

 

There are no set repayment terms, nor is interest charged on the outstanding balance due.

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