REGISTERED NUMBER: |
ARLINGTON BUILDERS LIMITED |
UNAUDITED FINANCIAL STATEMENTS |
FOR THE YEAR ENDED 31 MARCH 2023 |
REGISTERED NUMBER: |
ARLINGTON BUILDERS LIMITED |
UNAUDITED FINANCIAL STATEMENTS |
FOR THE YEAR ENDED 31 MARCH 2023 |
ARLINGTON BUILDERS LIMITED (REGISTERED NUMBER: 02465571) |
CONTENTS OF THE FINANCIAL STATEMENTS |
FOR THE YEAR ENDED 31 MARCH 2023 |
Page |
Company Information | 1 |
Balance Sheet | 2 | to | 3 |
Notes to the Financial Statements | 4 | to | 8 |
ARLINGTON BUILDERS LIMITED |
COMPANY INFORMATION |
FOR THE YEAR ENDED 31 MARCH 2023 |
DIRECTOR: |
SECRETARY: |
REGISTERED OFFICE: |
REGISTERED NUMBER: |
ACCOUNTANTS: |
Chartered Accountants |
255 Green Lanes |
Palmers Green |
London |
N13 4XE |
ARLINGTON BUILDERS LIMITED (REGISTERED NUMBER: 02465571) |
BALANCE SHEET |
31 MARCH 2023 |
2023 | 2022 |
Notes | £ | £ | £ | £ |
FIXED ASSETS |
Tangible assets | 4 |
CURRENT ASSETS |
Stocks |
Debtors | 5 |
Investments | 6 |
Cash at bank and in hand |
CREDITORS |
Amounts falling due within one year | 7 |
NET CURRENT ASSETS |
TOTAL ASSETS LESS CURRENT LIABILITIES |
PROVISIONS FOR LIABILITIES | 9 |
NET ASSETS |
CAPITAL AND RESERVES |
Called up share capital | 10 |
Fair value reserve | 11 |
Retained earnings |
SHAREHOLDERS' FUNDS |
The director acknowledges his 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. |
ARLINGTON BUILDERS LIMITED (REGISTERED NUMBER: 02465571) |
BALANCE SHEET - continued |
31 MARCH 2023 |
In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered. |
The financial statements were approved by the director and authorised for issue on |
ARLINGTON BUILDERS LIMITED (REGISTERED NUMBER: 02465571) |
NOTES TO THE FINANCIAL STATEMENTS |
FOR THE YEAR ENDED 31 MARCH 2023 |
1. | STATUTORY INFORMATION |
Arlington Builders Limited is a |
2. | ACCOUNTING POLICIES |
Basis of preparing the financial statements |
Turnover |
Turnover represents net invoiced sale of goods, excluding value added tax and sale of properties. |
Tangible fixed assets |
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life. |
Freehold property | - 2% on cost |
Plant and machinery | - 15% on reducing balance |
Fixtures and fittings | - 15% on reducing balance |
Motor vehicles | - 25% on reducing balance |
No depreciation is provided on freehold land. |
Stocks |
Stock and work in progress are valued at the lower of cost and net realisable value, apart from long term work in progress which includes the relevant proportion of profit. |
Cost includes all direct expenditure and an appropriate proportion of fixed and variable overheads. |
Completed work for which invoices had not been rendered at the date of the balance sheet is included at full selling price. |
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. |
ARLINGTON BUILDERS LIMITED (REGISTERED NUMBER: 02465571) |
NOTES TO THE FINANCIAL STATEMENTS - continued |
FOR THE YEAR ENDED 31 MARCH 2023 |
2. | ACCOUNTING POLICIES - continued |
Leases and hire purchase contracts |
Assets held under finance leases and hire purchase contracts are capitalised at cost with an equivalent liability categorised under creditors due within or after one year. The total finance charges are allocated over the period of the lease in such a way as to give a reasonably constant charge on the outstanding liability. |
Assets held under operating leases are not capitalised and leasing payments are allocated to accounting periods as they are incurred. |
Pension costs and other post-retirement benefits |
The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate. |
3. | EMPLOYEES AND DIRECTORS |
The average number of employees during the year was |
4. | TANGIBLE FIXED ASSETS |
Fixtures |
Freehold | Plant and | and | Motor |
property | machinery | fittings | vehicles | Totals |
£ | £ | £ | £ | £ |
COST OR VALUATION |
At 1 April 2022 |
Additions |
Disposals | ( |
) | ( |
) |
At 31 March 2023 |
DEPRECIATION |
At 1 April 2022 |
Charge for year |
Eliminated on disposal | ( |
) | ( |
) |
At 31 March 2023 |
NET BOOK VALUE |
At 31 March 2023 |
At 31 March 2022 |
Included in cost or valuation of land and buildings is freehold land of £ 206,225 (2022 - £ 206,225 ) which is not depreciated. |
ARLINGTON BUILDERS LIMITED (REGISTERED NUMBER: 02465571) |
NOTES TO THE FINANCIAL STATEMENTS - continued |
FOR THE YEAR ENDED 31 MARCH 2023 |
4. | TANGIBLE FIXED ASSETS - continued |
Cost or valuation at 31 March 2023 is represented by: |
Fixtures |
Freehold | Plant and | and | Motor |
property | machinery | fittings | vehicles | Totals |
£ | £ | £ | £ | £ |
Valuation in 1998 | 13,746 | - | - | - | 13,746 |
Valuation in 2015 | 180,000 | - | - | - | 180,000 |
Valuation in 2017 | 20,000 | - | - | - | 20,000 |
Valuation in 2018 | 90,000 | - | - | - | 90,000 |
Cost | 46,254 | 5,400 | 9,924 | 60,690 | 122,268 |
350,000 | 5,400 | 9,924 | 60,690 | 426,014 |
If freehold land and buildings had not been revalued they would have been included at the following historical cost: |
2023 | 2022 |
£ | £ |
Cost | 46,254 | 46,254 |
Aggregate depreciation | 2,280 | 1,900 |
Value of land in freehold land and buildings | 27,254 | 27,254 |
The freehold property was valued on an open market basis on 26 April 2017 by Glenny LLP . |
The director revalued the property at 31 March 2019. |
5. | DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
2023 | 2022 |
£ | £ |
Trade debtors |
Other debtor | 49,404 | 1,064 |
Tax |
Prepayments |
6. | CURRENT ASSET INVESTMENTS |
2023 | 2022 |
£ | £ |
Unlisted investments | 10,211 | 10,211 |
ARLINGTON BUILDERS LIMITED (REGISTERED NUMBER: 02465571) |
NOTES TO THE FINANCIAL STATEMENTS - continued |
FOR THE YEAR ENDED 31 MARCH 2023 |
7. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
2023 | 2022 |
£ | £ |
Bank loans and overdrafts |
Corporation tax |
Social security and other taxes |
Value added tax | 17,583 | 9,169 |
Other creditors |
Loan from officer of the company | 48,284 | 11,172 |
Directors' current accounts | 94,983 | 58,813 |
8. | SECURED DEBTS |
The following secured debts are included within creditors: |
2023 | 2022 |
£ | £ |
Bank overdraft |
9. | PROVISIONS FOR LIABILITIES |
2023 | 2022 |
£ | £ |
Deferred tax |
Deferred tax | 8,682 | 5,090 |
Deferred tax on revaluations | 51,604 | 51,604 |
60,286 | 56,694 |
Deferred |
tax |
£ |
Balance at 1 April 2022 |
Profit and loss account | 3,592 |
Balance at 31 March 2023 |
Deferred tax is provided in full at the rate of 19.0% (2022 - 19.0%) |
10. | CALLED UP SHARE CAPITAL |
Allotted, issued and fully paid: |
Number: | Class: | Nominal | 2023 | 2022 |
value: | £ | £ |
Ordinary | £1 | 2 | 2 |
ARLINGTON BUILDERS LIMITED (REGISTERED NUMBER: 02465571) |
NOTES TO THE FINANCIAL STATEMENTS - continued |
FOR THE YEAR ENDED 31 MARCH 2023 |
11. | RESERVES |
Fair |
value |
reserve |
£ |
At 1 April 2022 |
Transfer from profit and loss account | (2,495 | ) |
At 31 March 2023 |
12. | RELATED PARTY DISCLOSURES |
Arlington Builders Limited is controlled by P & A Righelato who own one ordinary share each. |
A joint and several guarantee in the sum of £50,000 has been given by P & A Righelato in respect of the bank borrowings. |