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COMPANY REGISTRATION NUMBER:
10674242
ARX CAPITAL ADVISORS LIMITED |
|
Filleted Unaudited Abridged Financial Statements |
|
ARX CAPITAL ADVISORS LIMITED |
|
Abridged Financial Statements |
|
Year ended 31 March 2023
Officers and professional advisers |
1 |
|
|
Chartered certified accountants report to the director on the preparation of the unaudited statutory abridged financial statements |
2 |
|
|
Abridged statement of financial position |
3 |
|
|
Notes to the abridged financial statements |
4 |
|
|
ARX CAPITAL ADVISORS LIMITED |
|
Officers and Professional Advisers |
|
Director |
Mr. I.G Fasoulis |
|
|
Registered office |
111A George Lane |
|
London |
|
E18 1AN |
|
|
Accountants |
OMG |
|
Chartered Certified Accountants |
|
111a, George Lane |
|
London |
|
E18 1AN |
|
|
ARX CAPITAL ADVISORS LIMITED |
|
Chartered Certified Accountants Report to the Director on the Preparation of the Unaudited Statutory Abridged Financial Statements of
ARX CAPITAL ADVISORS LIMITED |
|
Year ended 31 March 2023
In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the abridged financial statements of ARX CAPITAL ADVISORS LIMITED for the year ended 31 March 2023, which comprise the abridged statement of financial position and the related notes from the company's accounting records and from information and explanations you have given us. As a practising member firm of the Association of Chartered Certified Accountants, we are subject to its ethical and other professional requirements which are detailed at www.accaglobal.com/en/member/professional-standards/rules-standards/acca-rulebook.html. This report is made solely to the director of ARX CAPITAL ADVISORS LIMITED in accordance with the terms of our engagement letter dated 11 February 2019. Our work has been undertaken solely to prepare for your approval the abridged financial statements of ARX CAPITAL ADVISORS LIMITED and state those matters that we have agreed to state to you in this report in accordance with the requirements of the Association of Chartered Certified Accountants as detailed at www.accaglobal.com/content/dam/ACCA_Global/Technical/fact/technical-factsheet-163.pdf. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than ARX CAPITAL ADVISORS LIMITED and its director for our work or for this report.
It is your duty to ensure that ARX CAPITAL ADVISORS LIMITED has kept adequate accounting records and to prepare statutory abridged financial statements that give a true and fair view of the assets, liabilities, financial position and loss of ARX CAPITAL ADVISORS LIMITED. You consider that ARX CAPITAL ADVISORS LIMITED is exempt from the statutory audit requirement for the year. We have not been instructed to carry out an audit or a review of the abridged financial statements of ARX CAPITAL ADVISORS LIMITED. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory abridged financial statements.
OMG
Chartered Certified Accountants
111a, George Lane
London
E18 1AN
17 November 2023
ARX CAPITAL ADVISORS LIMITED |
|
Abridged Statement of Financial Position |
|
31 March 2023
Fixed assets
Tangible assets |
5 |
1,825 |
2,281 |
|
|
|
|
Creditors: amounts falling due within one year |
6 |
24,885 |
24,362 |
|
-------- |
-------- |
Net current liabilities |
24,885 |
24,362 |
|
-------- |
-------- |
Total assets less current liabilities |
(
23,060) |
(
22,081) |
|
-------- |
-------- |
|
|
|
|
Capital and reserves
Called up share capital |
7 |
100 |
100 |
Profit and loss account |
(
23,160) |
(
22,181) |
|
-------- |
-------- |
Shareholders deficit |
(
23,060) |
(
22,081) |
|
-------- |
-------- |
|
|
|
|
These abridged financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with Section 1A of FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.
In accordance with section 444 of the Companies Act 2006, the abridged statement of income and retained earnings has not been delivered.
For the year ending 31 March 2023 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
Director's responsibilities:
-
The members have not required the company to obtain an audit of its abridged financial statements for the year in question in accordance with section 476
;
-
The director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of abridged financial statements
.
All of the members have consented to the preparation of the abridged statement of income and retained earnings and the abridged statement of financial position for the year ending 31 March 2023 in accordance with Section 444(2A) of the Companies Act 2006.
These abridged financial statements were approved by the
board of directors
and authorised for issue on
17 November 2023
, and are signed on behalf of the board by:
Mr. I.G Fasoulis |
|
Director |
|
|
|
Company registration number:
10674242
ARX CAPITAL ADVISORS LIMITED |
|
Notes to the Abridged Financial Statements |
|
Year ended 31 March 2023
1.
General information
The company is a private company limited by shares, registered in England and Wales. The address of the registered office is 111A George Lane, London, E18 1AN.
2.
Statement of compliance
These abridged financial statements have been prepared in compliance with Section 1A of FRS 102, 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland'.
3.
Accounting policies
Basis of preparation
The abridged financial statements have been prepared on the historical cost basis, as modified by the revaluation of certain financial assets and liabilities and investment properties measured at fair value through profit or loss.
The abridged financial statements are prepared in sterling, which is the functional currency of the entity.
Going concern
At the time of approving the financial statements, the director has a reasonable expectation that the company has adequate resources to continue in operational existence for the foreseeable future. Thus the director continues to adopt the going concern basis of accounting in preparing the financial statements
Tangible assets
Tangible assets are initially recorded at cost, and subsequently stated at cost less any accumulated depreciation and impairment losses. Any tangible assets carried at revalued amounts are recorded at the fair value at the date of revaluation less any subsequent accumulated depreciation and subsequent accumulated impairment losses. An increase in the carrying amount of an asset as a result of a revaluation, is recognised in other comprehensive income and accumulated in equity, except to the extent it reverses a revaluation decrease of the same asset previously recognised in profit or loss. A decrease in the carrying amount of an asset as a result of revaluation, is recognised in other comprehensive income to the extent of any previously recognised revaluation increase accumulated in equity in respect of that asset. Where a revaluation decrease exceeds the accumulated revaluation gains accumulated in equity in respect of that asset, the excess shall be recognised in profit or loss.
Depreciation
Depreciation is calculated so as to write off the cost or valuation of an asset, less its residual value, over the useful economic life of that asset as follows:
|
Equipment |
- |
20% reducing balance |
|
|
|
|
Impairment of fixed assets
A review for indicators of impairment is carried out at each reporting date, with the recoverable amount being estimated where such indicators exist. Where the carrying value exceeds the recoverable amount, the asset is impaired accordingly. Prior impairments are also reviewed for possible reversal at each reporting date. For the purposes of impairment testing, when it is not possible to estimate the recoverable amount of an individual asset, an estimate is made of the recoverable amount of the cash-generating unit to which the asset belongs. The cash-generating unit is the smallest identifiable group of assets that includes the asset and generates cash inflows that largely independent of the cash inflows from other assets or groups of assets. For impairment testing of goodwill, the goodwill acquired in a business combination is, from the acquisition date, allocated to each of the cash-generating units that are expected to benefit from the synergies of the combination, irrespective of whether other assets or liabilities of the company are assigned to those units.
Government grants
Government grants are recognised at the fair value of the asset received or receivable. Grants are not recognised until there is reasonable assurance that the company will comply with the conditions attaching to them and the grants will be received. Government grants are recognised using the accrual model and the performance model. Under the accrual model, government grants relating to revenue are recognised on a systematic basis over the periods in which the company recognises the related costs for which the grant is intended to compensate. Grants that are receivable as compensation for expenses or losses already incurred or for the purpose of giving immediate financial support to the entity with no future related costs are recognised in income in the period in which it becomes receivable. Grants relating to assets are recognised in income on a systematic basis over the expected useful life of the asset. Where part of a grant relating to an asset is deferred, it is recognised as deferred income and not deducted from the carrying amount of the asset. Under the performance model, where the grant does not impose specified future performance-related conditions on the recipient, it is recognised in income when the grant proceeds are received or receivable. Where the grant does impose specified future performance-related conditions on the recipient, it is recognised in income only when the performance-related conditions have been met. Where grants received are prior to satisfying the revenue recognition criteria, they are recognised as a liability.
Financial instruments
A financial asset or a financial liability is recognised only when the company becomes a party to the contractual provisions of the instrument. Basic financial instruments are initially recognised at the transaction price, unless the arrangement constitutes a financing transaction, where it is recognised at the present value of the future payments discounted at a market rate of interest for a similar debt instrument. Debt instruments are subsequently measured at amortised cost. Where investments in non-convertible preference shares and non-puttable ordinary shares or preference shares are publicly traded or their fair value can otherwise be measured reliably, the investment is subsequently measured at fair value with changes in fair value recognised in profit or loss. All other such investments are subsequently measured at cost less impairment. Other financial instruments, including derivatives, are initially recognised at fair value, unless payment for an asset is deferred beyond normal business terms or financed at a rate of interest that is not a market rate, in which case the asset is measured at the present value of the future payments discounted at a market rate of interest for a similar debt instrument. Other financial instruments are subsequently measured at fair value, with any changes recognised in profit or loss, with the exception of hedging instruments in a designated hedging relationship.
Financial assets that are measured at cost or amortised cost are reviewed for objective evidence of impairment at the end of each reporting date. If there is objective evidence of impairment, an impairment loss is recognised in profit or loss immediately. For all equity instruments regardless of significance, and other financial assets that are individually significant, these are assessed individually for impairment. Other financial assets are either assessed individually or grouped on the basis of similar credit risk characteristics. Any reversals of impairment are recognised in profit or loss immediately, to the extent that the reversal does not result in a carrying amount of the financial asset that exceeds what the carrying amount would have been had the impairment not previously been recognised.
4.
Employee numbers
The average number of persons employed by the company during the year amounted to Nil
(2022:
1
).
5.
Tangible assets
|
£ |
Cost |
|
At 1 April 2022 and 31 March 2023 |
6,391 |
|
------- |
Depreciation |
|
At 1 April 2022 |
4,110 |
Charge for the year |
456 |
|
------- |
At 31 March 2023 |
4,566 |
|
------- |
Carrying amount |
|
At 31 March 2023 |
1,825 |
|
------- |
At 31 March 2022 |
2,281 |
|
------- |
|
|
6.
Creditors:
amounts falling due within one year
|
2023 |
2022 |
|
£ |
£ |
Director loan accounts |
24,330 |
24,062 |
Other creditors |
555 |
300 |
|
-------- |
-------- |
|
24,885 |
24,362 |
|
-------- |
-------- |
|
|
|
7.
Called up share capital
Issued, called up and fully paid
|
2023 |
2022 |
|
No. |
£ |
No. |
£ |
Ordinary shares of £ 1 each |
100 |
100 |
100 |
100 |
|
---- |
---- |
---- |
---- |
|
|
|
|
|
8.
Related party transactions
As at year-end the director was owed £24,330 (2022:£24,062). These amounts were interest free, unsecured and repayable on demand.
9.
Controlling party
The Company was under the control of its director,
Mr I.G Fasoulis
throughout the current and privious years.