REGISTERED NUMBER: |
UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 AUGUST 2023 |
FOR |
ARLINGTON LIMITED |
REGISTERED NUMBER: |
UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 AUGUST 2023 |
FOR |
ARLINGTON LIMITED |
ARLINGTON LIMITED (REGISTERED NUMBER: 02739836) |
CONTENTS OF THE FINANCIAL STATEMENTS |
FOR THE YEAR ENDED 31 AUGUST 2023 |
Page |
Balance sheet | 1 |
Notes to the financial statements | 3 |
ARLINGTON LIMITED (REGISTERED NUMBER: 02739836) |
BALANCE SHEET |
31 AUGUST 2023 |
2023 | 2022 |
Notes | £ | £ | £ | £ |
Fixed assets |
Tangible assets | 4 |
Investment property | 5 |
Current assets |
Stocks |
Debtors | 6 |
Cash at bank and in hand |
Creditors |
Amounts falling due within one year | 7 |
Net current liabilities | ( |
) | ( |
) |
Total assets less current liabilities |
Provisions for liabilities | 8 |
Net assets |
Capital and reserves |
Called up share capital | 9 |
Fair value reserve | 10 |
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. |
ARLINGTON LIMITED (REGISTERED NUMBER: 02739836) |
BALANCE SHEET - continued |
31 AUGUST 2023 |
In accordance with Section 444 of the Companies Act 2006, the Statement of comprehensive income has not been delivered. |
The financial statements were approved by the Board of Directors and authorised for issue on |
ARLINGTON LIMITED (REGISTERED NUMBER: 02739836) |
NOTES TO THE FINANCIAL STATEMENTS |
FOR THE YEAR ENDED 31 AUGUST 2023 |
1. | Statutory information |
Arlington Limited is a private company, limited by shares, registered in England and Wales. The company's registered number is 02739836. The registered office is 7 & 8 Church Street, Wimborne, Dorset, BH21 1JH, and business address is 1a Mill Lane, Wimborne, Dorset, BH21 1JQ. |
2. | Accounting policies |
Basis of preparing the financial statements |
Turnover |
Turnover represents amounts received in respect of the sale of development properties, in the ordinary course of business, net of trade discounts and VAT, where applicable. |
Tangible fixed assets |
Freehold property | - |
Plant and machinery | - |
Fixtures and fittings | - |
Investment property |
Investment property is shown at most recent valuation. Any aggregate surplus or deficit arising from changes in fair value is recognised in profit or loss. |
Investment property, which is property held to earn rentals and/or for capital appreciation, is initially recognised at cost, which includes the purchase cost and any directly attributable expenditure. Subsequently it is measured at fair value at the reporting end date, with any surplus or deficit on revaluation being recognised in profit or loss. |
Stocks |
Work In Progress is valued at the lower of cost and net realisable value and represents land held for development including land in the course of development which until legal completion for the sale of the asset is recorded at cost. Cost comprises direct costs including, where applicable, direct labour costs and overheads, not including any general administrative overheads, that have been incurred in bringing the asset to the condition and location as recorded at the balance sheet date. |
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 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 LIMITED (REGISTERED NUMBER: 02739836) |
NOTES TO THE FINANCIAL STATEMENTS - continued |
FOR THE YEAR ENDED 31 AUGUST 2023 |
2. | Accounting policies - continued |
Financial instruments |
Basic financial instruments are initially recognised at transaction price and accounted for according to the substance of the contractual arrangement, as either financial assets, liabilities or equity instruments. An equity instrument is any contract that evidences a residual interest in the assets of the company, after deducting all liabilities. |
At each balance sheet date, financial instruments are measured at amortised cost using the effective interest method. Any losses arising from impairment are recognised in the profit and loss account in the period to which they relate. |
Group accounts |
The financial statements present information about the company as an individual undertaking and not about its group. The company and its parent and fellow subsidiaries comprise a small-sized group. The group has therefore taken advantage of the exemptions provided by section 399 of the Companies Act 2006 not to prepare group accounts. |
3. | Employees and directors |
The average number of employees during the year was |
4. | Tangible fixed assets |
Fixtures |
Freehold | Plant and | and |
property | machinery | fittings | Totals |
£ | £ | £ | £ |
Cost |
At 1 September 2022 |
Additions |
At 31 August 2023 |
Depreciation |
At 1 September 2022 |
Charge for year |
At 31 August 2023 |
Net book value |
At 31 August 2023 |
At 31 August 2022 |
5. | Investment property |
Total |
£ |
Fair value |
At 1 September 2022 |
Additions |
Disposals | ( |
) |
Revaluations | 98,272 |
Impairments | (6,667 | ) |
At 31 August 2023 |
Net book value |
At 31 August 2023 |
At 31 August 2022 |
ARLINGTON LIMITED (REGISTERED NUMBER: 02739836) |
NOTES TO THE FINANCIAL STATEMENTS - continued |
FOR THE YEAR ENDED 31 AUGUST 2023 |
5. | Investment property - continued |
Appraisals of investment properties were made on 31 August 2023 by the director. The valuations were made on an open market basis by reference to market evidence of transaction prices for similar properties. |
6. | Debtors: amounts falling due within one year |
2023 | 2022 |
£ | £ |
Trade debtors |
Amounts owed by group undertakings |
Other debtors |
Prepayments and accrued income |
7. | Creditors: amounts falling due within one year |
2023 | 2022 |
£ | £ |
Amounts owed to group undertakings |
Tax |
VAT | 16,692 | 16,661 |
Accruals and deferred income |
8. | Provisions for liabilities |
2023 | 2022 |
£ | £ |
Deferred tax | 3,533 | - |
Deferred |
tax |
£ |
Provided during year |
Balance at 31 August 2023 |
9. | Called up share capital |
Allotted, issued and fully paid: |
Number: | Class: | Nominal | 2023 | 2022 |
value: | £ | £ |
Ordinary | £1 | 100 | 100 |
10. | Reserves |
Fair |
value |
reserve |
£ |
At 1 September 2022 |
Transfers |
At 31 August 2023 |
ARLINGTON LIMITED (REGISTERED NUMBER: 02739836) |
NOTES TO THE FINANCIAL STATEMENTS - continued |
FOR THE YEAR ENDED 31 AUGUST 2023 |
11. | Ultimate controlling party |
The Director, Mr N Forest, is deemed to be the ultimate controlling party by virtue of his 100% holding of the share capital of the parent company, Arlington Estates Ltd. |