Registered number
03057555
Arian Finance Limited
Unaudited Filleted Accounts
30 June 2023
Arian Finance Limited
Registered number: 03057555
Balance Sheet
as at 30 June 2023
Notes 2023 2022
£ £
Fixed assets
Tangible assets 3 104,846 43,696
Investments 4 10,000 10,000
114,846 53,696
Current assets
Debtors 5 2,304,507 3,938,932
Cash at bank and in hand 327,427 379,726
2,631,934 4,318,658
Creditors: amounts falling due within one year 6 (524,097) (1,740,579)
Net current assets 2,107,837 2,578,079
Total assets less current liabilities 2,222,683 2,631,775
Creditors: amounts falling due after more than one year 7 (22,297) (457,494)
Provisions for liabilities (19,921) (10,000)
Net assets 2,180,465 2,164,281
Capital and reserves
Called up share capital 100,000 100,000
Profit and loss account 2,080,465 2,064,281
Shareholders' funds 2,180,465 2,164,281
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.
J D Honeybun
Director
Approved by the board on 11 October 2023
Arian Finance Limited
Notes to the Accounts
for the year ended 30 June 2023
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:
Motor vehicles 20% reducing balance
Computer equipment 33% straight line
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.
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.
Leased assets
A lease is classified as a finance lease if it transfers substantially all the risks and rewards incidental to ownership. All other leases are classified as operating leases. The rights of use and obligations under finance leases are initially recognised as assets and liabilities at amounts equal to the fair value of the leased assets or, if lower, the present value of the minimum lease payments. Minimum lease payments are apportioned between the finance charge and the reduction in the outstanding liability using the effective interest rate method. The finance charge is allocated to each period during the lease so as to produce a constant periodic rate of interest on the remaining balance of the liability. Leased assets are depreciated in accordance with the company's policy for tangible fixed assets. If there is no reasonable certainty that ownership will be obtained at the end of the lease term, the asset is depreciated over the lower of the lease term and its useful life. Operating lease payments are recognised as an expense on a straight line basis over the lease term.
Pensions
Contributions to defined contribution plans are expensed in the period to which they relate.
2 Employees 2023 2022
Number Number
Average number of persons employed by the company 3 3
3 Tangible fixed assets
Plant and machinery etc Motor vehicles Total
£ £ £
Cost
At 1 July 2022 1,504 73,504 75,008
Additions - 100,772 100,772
Disposals - (47,507) (47,507)
At 30 June 2023 1,504 126,769 128,273
Depreciation
At 1 July 2022 1,504 29,808 31,312
Charge for the year - 7,602 7,602
On disposals - (15,487) (15,487)
At 30 June 2023 1,504 21,923 23,427
Net book value
At 30 June 2023 - 104,846 104,846
At 30 June 2022 - 43,696 43,696
4 Investments
Other
investments
£
Cost
At 1 July 2022 10,000
At 30 June 2023 10,000
5 Debtors 2023 2022
£ £
Trade debtors 2,274,631 3,936,232
Other debtors 29,876 2,700
2,304,507 3,938,932
Amounts due after more than one year included above 1,068,509 1,931,981
6 Creditors: amounts falling due within one year 2023 2022
£ £
Bank loans and overdrafts 9,748 10,389
Block discounting contracts 496,188 1,653,624
Taxation and social security costs 2,495 56,370
Other creditors 15,666 20,196
524,097 1,740,579
7 Creditors: amounts falling due after one year 2023 2022
£ £
Bank loans 22,297 31,567
Block discounting contracts - 425,927
22,297 457,494
8 Secured loans 2023 2022
£ £
Creditors include:
Block discounting contracts 496,188 2,079,551
The block discounting contracts are secured through fixed and floating charges over the assets of the company.
9 Other information
Arian Finance Limited is a private company limited by shares and incorporated in England & Wales. Its registered office is:
Radnor House
Greenwood Close
Cardiff Gate Business Park
Cardiff
CF23 8AA
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