REGISTERED NUMBER: |
Unaudited Financial Statements for the Year Ended 31 January 2023 |
for |
Arland Property (App) Limited |
REGISTERED NUMBER: |
Unaudited Financial Statements for the Year Ended 31 January 2023 |
for |
Arland Property (App) Limited |
Arland Property (App) Limited (Registered number: 11788746) |
Contents of the Financial Statements |
for the Year Ended 31 January 2023 |
Page |
Company Information | 1 |
Balance Sheet | 2 |
Notes to the Financial Statements | 3 |
Arland Property (App) Limited |
Company Information |
for the Year Ended 31 January 2023 |
DIRECTORS: |
REGISTERED OFFICE: |
REGISTERED NUMBER: |
ACCOUNTANTS: |
47 Kensington Road |
Chichester |
West Sussex |
PO19 7XS |
Arland Property (App) Limited (Registered number: 11788746) |
Balance Sheet |
31 January 2023 |
2023 | 2022 |
Notes | £ | £ | £ | £ |
FIXED ASSETS |
Intangible assets | 4 |
CURRENT ASSETS |
Debtors | 5 |
Cash at bank |
CREDITORS |
Amounts falling due within one year | 6 |
NET CURRENT LIABILITIES | ( |
) | ( |
) |
TOTAL ASSETS LESS CURRENT LIABILITIES |
( |
) |
( |
) |
CAPITAL AND RESERVES |
Called up share capital | 7 |
Retained earnings | ( |
) | ( |
) |
SHAREHOLDERS' FUNDS | ( |
) | ( |
) |
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. |
In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered. |
The financial statements were approved by the Board of Directors and authorised for issue on |
Arland Property (App) Limited (Registered number: 11788746) |
Notes to the Financial Statements |
for the Year Ended 31 January 2023 |
1. | STATUTORY INFORMATION |
Arland Property (App) Limited is a |
2. | ACCOUNTING POLICIES |
Basis of preparing the financial statements |
As referred to in note 10 the directors made the decision subsequent to the year end to cease trading, close the company and apply for it to be struck off the register. Accordingly the accounts cannot be prepared on the going concern basis, and adjustments have been made to financial statements to reflect the changed circumstances. Impairment adjustments have been recognised to write off the unamortised portion of the intangible fixed assets, resulting in a charge to the accounts of £56,371. The loans from the director and from companies under common control totalling £146,000 have been forgiven as irrecoverable, resulting in a credit to the accounts of this amount. |
Intangible assets |
Intangible assets are initially measured at cost. After initial recognition, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses. Internally generated intangible assets are capitalised to the extent that the technical, commercial and financial feasibility can be demonstrated. |
Intangible assets are amortised on a straight line basis over their useful lives from when they are first brought into use. The directors have estimated the useful lives of the App and the related website as 5 years from when they were first brought into use. |
Taxation |
Taxation for the year comprises current and deferred tax. Tax is recognised in the Income Statement, 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 balance sheet date. |
Deferred tax |
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet 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. |
3. | EMPLOYEES AND DIRECTORS |
The average number of employees during the year was NIL (2022 - NIL). |
Arland Property (App) Limited (Registered number: 11788746) |
Notes to the Financial Statements - continued |
for the Year Ended 31 January 2023 |
4. | INTANGIBLE FIXED ASSETS |
App |
development |
costs | Website | Totals |
£ | £ | £ |
COST |
At 1 February 2022 |
and 31 January 2023 |
AMORTISATION |
At 1 February 2022 |
Amortisation for year |
Impairments |
At 31 January 2023 |
NET BOOK VALUE |
At 31 January 2023 |
At 31 January 2022 |
The impairment adjustments above arise from the decision of the directors to cease trading, as referred to in the accounting policies and in note 10 to the accounts. |
5. | DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
2023 | 2022 |
£ | £ |
Other debtors |
6. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
2023 | 2022 |
£ | £ |
Trade creditors |
Other creditors |
7. | CALLED UP SHARE CAPITAL |
Allotted, issued and fully paid: |
Number: | Class: | Nominal | 2023 | 2022 |
value: | £ | £ |
Ordinary A | 1 | 100 | 50 |
Ordinary B | 1 | - | 50 |
100 | 100 |
Arland Property (App) Limited (Registered number: 11788746) |
Notes to the Financial Statements - continued |
for the Year Ended 31 January 2023 |
8. | RELATED PARTY DISCLOSURES |
Other creditors in the prior year included a loan of £120,000 from Andrew McParland, a director and shareholder. The loan was unsecured and interest free. Other creditors in the prior year also included a loan of £20,000 from Arland Property Investments Limited, and a loan of £3,000 from Arland Property Limited, companies under common control. These loans were unsecured and interest free. |
As referred to in note 10, subsequent to the year end the directors made the decision to cease trading and close the company. The above loans have been forgiven by the respective creditors and written back in the accounts, together with an additional £3,000 which was loaned during the year by Arland Property Limited. |
9. | POST BALANCE SHEET EVENTS |
Subsequent to the year end the directors took the decision to cease trading and resolved to close the company and apply to have the company struck off. |