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REGISTERED NUMBER: 04851617 (England and Wales)















Unaudited Financial Statements

for the Year Ended 31 July 2023

for

Arden Gates Ltd

Arden Gates Ltd (Registered number: 04851617)






Contents of the Financial Statements
for the Year Ended 31 July 2023




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4

Chartered Accountants' Report 10

Arden Gates Ltd

Company Information
for the Year Ended 31 July 2023







DIRECTORS: G H Allwood
D S Young





REGISTERED OFFICE: Corner Farm
Packwood Road Lapworth
Solihull
West Midlands
B94 6EJ





REGISTERED NUMBER: 04851617 (England and Wales)





ACCOUNTANTS: Tomkinson Teal Limited
Hanover Court
5 Queen Street
Lichfield
Staffordshire
WS13 6QD

Arden Gates Ltd (Registered number: 04851617)

Balance Sheet
31 July 2023

2023 2022
Notes £    £   
FIXED ASSETS
Intangible assets 4 17,519 7,469
Tangible assets 5 403,954 397,192
421,473 404,661

CURRENT ASSETS
Stocks 39,000 114,770
Debtors 6 511,644 464,670
Cash at bank 208,842 94,262
759,486 673,702
CREDITORS
Amounts falling due within one year 7 (742,539 ) (671,844 )
NET CURRENT ASSETS 16,947 1,858
TOTAL ASSETS LESS CURRENT
LIABILITIES

438,420

406,519

CREDITORS
Amounts falling due after more than one
year

8

(122,219

)

(167,151

)

PROVISIONS FOR LIABILITIES 10 (88,686 ) (64,570 )
NET ASSETS 227,515 174,798

CAPITAL AND RESERVES
Called up share capital 11 100 100
Retained earnings 227,415 174,698
SHAREHOLDERS' FUNDS 227,515 174,798

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 July 2023.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 July 2023 in accordance with Section 476 of the Companies Act 2006.

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.

Arden Gates Ltd (Registered number: 04851617)

Balance Sheet - continued
31 July 2023


The financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

In accordance with Section 444 of the Companies Act 2006, the Profit and Loss Account has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 19 January 2024 and were signed on its behalf by:





G H Allwood - Director


Arden Gates Ltd (Registered number: 04851617)

Notes to the Financial Statements
for the Year Ended 31 July 2023

1. STATUTORY INFORMATION

Arden Gates Ltd is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.

The presentation currency of the financial statements is the Pound Sterling (£).


2. ACCOUNTING POLICIES

Basis of preparing the financial statements
These financial statements have been prepared in accordance with Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" including the provisions of Section 1A "Small Entities" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention as modified by the revaluation of certain assets.

Turnover
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Intangible assets
Intangible assets are initially measured at cost. After initial recognition, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses.

Website is being amortised evenly over its estimated useful life of five years.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life or, if held under a finance lease, over the lease term, whichever is the shorter.
Plant and machinery - 15% on reducing balance
Fixtures and fittings - 33% on cost
Motor vehicles - 25% on cost

Stocks
Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.

Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell. Cost includes all costs of purchase, costs of conversion and other costs incurred in bringing stock to its present location and condition. Cost is calculated using the first-in, first-out formula. Provision is made for damaged, obsolete and slow-moving stock where appropriate.

Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Profit and Loss Account, 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.


Arden Gates Ltd (Registered number: 04851617)

Notes to the Financial Statements - continued
for the Year Ended 31 July 2023

2. ACCOUNTING POLICIES - continued
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.

Hire purchase and leasing commitments
Assets obtained under hire purchase contracts or finance leases are capitalised in the balance sheet. Those held under hire purchase contracts are depreciated over their estimated useful lives. Those held under finance leases are depreciated over their estimated useful lives or the lease term, whichever is the shorter.

The interest element of these obligations is charged to profit or loss over the relevant period. The capital element of the future payments is treated as a liability.

Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 18 (2022 - 21 ) .

4. INTANGIBLE FIXED ASSETS
Website
£   
COST
At 1 August 2022 22,554
Additions 14,896
At 31 July 2023 37,450
AMORTISATION
At 1 August 2022 15,085
Amortisation for year 4,846
At 31 July 2023 19,931
NET BOOK VALUE
At 31 July 2023 17,519
At 31 July 2022 7,469

Arden Gates Ltd (Registered number: 04851617)

Notes to the Financial Statements - continued
for the Year Ended 31 July 2023

5. TANGIBLE FIXED ASSETS
Fixtures
Plant and and Motor
machinery fittings vehicles Totals
£    £    £    £   
COST OR VALUATION
At 1 August 2022 305,198 24,359 292,344 621,901
Additions 33,485 14,577 90,560 138,622
Disposals - - (35,748 ) (35,748 )
At 31 July 2023 338,683 38,936 347,156 724,775
DEPRECIATION
At 1 August 2022 124,999 13,720 85,990 224,709
Charge for year 27,986 7,973 69,901 105,860
Eliminated on disposal - - (9,748 ) (9,748 )
At 31 July 2023 152,985 21,693 146,143 320,821
NET BOOK VALUE
At 31 July 2023 185,698 17,243 201,013 403,954
At 31 July 2022 180,199 10,639 206,354 397,192

Cost or valuation at 31 July 2023 is represented by:

Fixtures
Plant and and Motor
machinery fittings vehicles Totals
£    £    £    £   
Valuation in 2013 19,175 - - 19,175
Cost 319,508 38,936 347,156 705,600
338,683 38,936 347,156 724,775

If plant and machinery had not been revalued it would have been included at the following historical cost:

2023 2022
£    £   
Cost 319,508 286,023
Aggregate depreciation 137,586 110,266

Plant and machinery was revalued on 2 December 2013 by Grange Tool and Industrial, at the open market value, and this valuation has been included in the accounts. Plant and machinery purchased since that date has not been revalued.

As allowed under the transition rules of FRS 102 1A, the directors have chosen to treat previously revalued plant and machinery as deemed cost and not revalue in future periods.

Arden Gates Ltd (Registered number: 04851617)

Notes to the Financial Statements - continued
for the Year Ended 31 July 2023

5. TANGIBLE FIXED ASSETS - continued

Fixed assets, included in the above, which are held under hire purchase contracts are as follows:
Plant and Motor
machinery vehicles Totals
£    £    £   
COST OR VALUATION
At 1 August 2022 139,629 183,728 323,357
Additions - 64,560 64,560
Transfer to ownership 10,046 (13,750 ) (3,704 )
At 31 July 2023 149,675 234,538 384,213
DEPRECIATION
At 1 August 2022 47,150 41,293 88,443
Charge for year 15,322 42,496 57,818
Transfer to ownership 377 (6,016 ) (5,639 )
At 31 July 2023 62,849 77,773 140,622
NET BOOK VALUE
At 31 July 2023 86,826 156,765 243,591
At 31 July 2022 92,479 142,435 234,914

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Trade debtors 453,288 408,658
Other debtors 58,356 56,012
511,644 464,670

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Bank loans and overdrafts 10,000 10,000
Hire purchase contracts (see note 9) 64,326 71,270
Trade creditors 428,066 460,424
Taxation and social security 120,178 60,787
Other creditors 119,969 69,363
742,539 671,844

8. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
2023 2022
£    £   
Bank loans 18,333 28,333
Hire purchase contracts (see note 9) 103,886 138,818
122,219 167,151

Arden Gates Ltd (Registered number: 04851617)

Notes to the Financial Statements - continued
for the Year Ended 31 July 2023

9. LEASING AGREEMENTS

Minimum lease payments fall due as follows:

Hire purchase contracts
2023 2022
£    £   
Net obligations repayable:
Within one year 64,326 71,270
Between one and five years 103,886 138,818
168,212 210,088

Non-cancellable operating leases
2023 2022
£    £   
Within one year 2,187 9,930
Between one and five years - 6,058
2,187 15,988

10. PROVISIONS FOR LIABILITIES
2023 2022
£    £   
Deferred tax 88,686 64,570

Deferred
tax
£   
Balance at 1 August 2022 64,570
Charge to Profit and Loss Account during year 24,116
Balance at 31 July 2023 88,686

11. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 2023 2022
value: £    £   
40 Ordinary A £1 40 40
40 Ordinary B £1 40 40
10 Ordinary C £1 10 10
10 Ordinary D £1 10 10
100 100

All shares rank pari-passu in all respects except that each class of share shall be entitled to dividends on a discretionary basis as a separate class right.

12. OTHER FINANCIAL COMMITMENTS

As at 31 July 2023, there were outstanding pension contributions of £2,774 (2022 - £8,509).

Arden Gates Ltd (Registered number: 04851617)

Notes to the Financial Statements - continued
for the Year Ended 31 July 2023

13. RELATED PARTY DISCLOSURES

Arden Fabrications Limited
A company in which the director, G Allwood, has a controlling interest

During the year, the company has entered into transactions, on normal commercial terms, with Arden Fabrications Limited as follows:-

Management and administration fees £57,000 (2022 - £56,400).

There is an amount owing from Arden Fabrications Limited of £23,576 (2022 - £23,276). The amount owed is unsecured and has no specific terms regarding payment of interest. The amount due is repayable on demand but the directors of Arden Gates Limited have given their assurance that the amount payable will not be demanded until such time as Arden Fabrications Limited can afford to do so without detriment to its working capital needs.

Arden Property Holdings Limited
A company in which the director, D Young, has an interest

There is an amount owing from Arden Property Holdings Limited of £30,000 (2022 - £30,000) The amount owed is unsecured and has no specific terms regarding payment of interest. The amount due is repayable on demand but the directors of Arden Gates Limited have given their assurance that the amount payable will not be demanded until such time as Arden Property Holdings Limited can afford to do so without detriment to its working capital needs.

Chartered Accountants' Report to the Board of Directors
on the Unaudited Financial Statements of
Arden Gates Ltd

The following reproduces the text of the report prepared for the directors in respect of the company's annual unaudited financial statements. In accordance with the Companies Act 2006, the company is only required to file a Balance Sheet. Readers are cautioned that the Income Statement and certain other primary statements and the Report of the Directors are not required to be filed with the Registrar of Companies.

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the financial statements of Arden Gates Ltd for the year ended 31 July 2023 which comprise the Profit and Loss Account, Balance Sheet, Statement of Changes in Equity 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 Institute of Chartered Accountants in England and Wales (ICAEW), we are subject to its ethical and other professional requirements which are detailed within the ICAEW's regulations and guidance at http://www.icaew.com/en/membership/regulations-standards-and-guidance.

This report is made solely to the Board of Directors of Arden Gates Ltd, as a body, in accordance with our terms of engagement. Our work has been undertaken solely to prepare for your approval the financial statements of Arden Gates Ltd and state those matters that we have agreed to state to the Board of Directors of Arden Gates Ltd, as a body, in this report in accordance with ICAEW Technical Release 07/16AAF. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than Arden Gates Ltd and its Board of Directors, as a body, for our work or for this report.

It is your duty to ensure that Arden Gates Ltd has kept adequate accounting records and to prepare statutory financial statements that give a true and fair view of the assets, liabilities, financial position and profit of Arden Gates Ltd. You consider that Arden Gates Ltd 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 financial statements of Arden Gates Ltd. 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 financial statements.






Tomkinson Teal Limited
Hanover Court
5 Queen Street
Lichfield
Staffordshire
WS13 6QD


19 January 2024