REGISTERED NUMBER: |
Unaudited Financial Statements |
for the Year Ended 31 May 2023 |
for |
Archway Holdings Ltd |
REGISTERED NUMBER: |
Unaudited Financial Statements |
for the Year Ended 31 May 2023 |
for |
Archway Holdings Ltd |
Archway Holdings Ltd (Registered number: 10136884) |
Contents of the Financial Statements |
for the year ended 31 May 2023 |
Page |
Company Information | 1 |
Balance Sheet | 2 |
Notes to the Financial Statements | 3 |
Archway Holdings Ltd |
Company Information |
for the year ended 31 May 2023 |
DIRECTORS: |
SECRETARY: |
REGISTERED OFFICE: |
REGISTERED NUMBER: |
ACCOUNTANTS: |
Chartered Accountants |
14 Grosvenor Court |
Foregate Street |
Chester |
Cheshire |
CH1 1HG |
Archway Holdings Ltd (Registered number: 10136884) |
Balance Sheet |
31 May 2023 |
2023 | 2022 |
Notes | £ | £ | £ | £ |
FIXED ASSETS |
Investments | 4 |
CURRENT ASSETS |
Debtors | 5 |
Cash at bank |
CREDITORS |
Amounts falling due within one year | 6 |
NET CURRENT ASSETS |
TOTAL ASSETS LESS CURRENT LIABILITIES |
CAPITAL AND RESERVES |
Called up share capital |
Retained earnings |
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 |
Archway Holdings Ltd (Registered number: 10136884) |
Notes to the Financial Statements |
for the year ended 31 May 2023 |
1. | STATUTORY INFORMATION |
Archway Holdings Ltd is a |
2. | ACCOUNTING POLICIES |
Basis of preparing the financial statements |
Investments in subsidiaries |
Investments in subsidiary undertakings are recognised at cost. |
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 |
4. | FIXED ASSET INVESTMENTS |
Shares in |
group |
undertakings |
£ |
COST |
At 1 June 2022 |
and 31 May 2023 |
NET BOOK VALUE |
At 31 May 2023 |
At 31 May 2022 |
Subsidiary undertakings |
The company's investment in its subsidiary companies represents the cost of acquisition of the whole of the ordinary share capital of Archway Homes Ltd of £12,000 and Archway Groundworks Ltd of £6,000. |
At 31 May 2023, the aggregate of the share capital and reserves of Archway Homes Ltd amounted to £387,418 (2022 : £522,739) and the profit for the year to that date was £364,679 (2022 : £461,737) |
At 31 May 2023, the aggregate of the share capital and reserves of Archway Groundworks Ltd amounted to £7,973 (2022 : £8,008) and the loss for the year to that date was £35 (2022 : Profit £1,749) |
Archway Holdings Ltd (Registered number: 10136884) |
Notes to the Financial Statements - continued |
for the year ended 31 May 2023 |
5. | DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
2023 | 2022 |
£ | £ |
Amounts owed by group undertakings |
6. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
2023 | 2022 |
£ | £ |
Trade creditors |
Taxation and social security |
Other creditors |
7. | SECURED DEBTS |
The following secured debts are included within creditors: |
2023 | 2022 |
£ | £ |
Other creditors | 1,050,000 | 900,000 |
8. | RELATED PARTY DISCLOSURES |
Amounts owed by group undertakings includes an amount of £4,425,000 (2022 : £3,550,000) owed from Archway Homes Ltd, a wholly owned subsidiary. The loan is secured with a fixed and floating charge on the assets of Archway Homes Ltd and is repayable on demand. Interest was charged in the period of £151,938 (2022 £123,733). |
Amounts owed by group undertakings includes an amount of £75,000 (2022 : £135,000) owed from Archway Groundworks Ltd, a wholly owned subsidiary. The loan is secured with a fixed and floating charge on the assets of Archway Groundworks Ltd and is repayable on demand. No interest was charged in the period, |
Included in other creditors is £1,050,000 (2022 : £900,000) owed to Barrowmore Investments Limited, a company that directors P L and A Pedley are also directors. The loan is secured with a fixed and floating charge on the assets of Archway Holdings Ltd and is repayable on demand. Interest was charged in the period of £100,029 (2022 £62,746). |
Dividends totalling £41,000 (2022 : £16,000) were paid during the year to P L and A Pedley, together with members of their close family. |
9. | ULTIMATE CONTROLLING PARTY |
The company is controlled by Mr P L and Mrs A Pedley, the directors of the company, together with members of their close family by virtue of owning the majority of the issued share capital. |