Company registration number 11574100 (England and Wales)
ARUNWAY LTD
Unaudited Financial Statements
For The Year Ended 30 September 2023
Pages For Filing With Registrar
Arunway Ltd
ARUNWAY LTD
Company Information
Director
R A Scripps
Company number
11574100
Registered office
C/O Chavereys
The Goods Shed
Jubilee Way
Faversham
Kent
England
ME13 8GD
Accountants
Chavereys Limited
The Goods Shed
Jubilee Way
Faversham
Kent
England
ME13 8GD
Business address
Moat Farm
Five Oak Green
Tonbridge
Kent
England
TN12 6RR
Arunway Ltd
ARUNWAY LTD
Contents
Page
Accountants' report
1
Balance sheet
2
Notes to the financial statements
3 - 5
Arunway Ltd
ARUNWAY LTD
Accountants' Report To The Director On The Preparation Of The Unaudited Statutory Financial Statements Of Arunway Ltd For The Year Ended 30 September 2023
- 1 -

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the financial statements of Arunway Ltd for the year ended 30 September 2023 which comprise, the balance sheet 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 at https://www.icaew.com/regulation.

This report is made solely to the board of directors of Arunway Ltd, as a body, in accordance with the terms of our engagement letter dated 27 September 2018. Our work has been undertaken solely to prepare for your approval the financial statements of Arunway Ltd and state those matters that we have agreed to state to the board of directors of Arunway Ltd, as a body, in this report in accordance with ICAEW Technical Release 07/16 AAF. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than Arunway Ltd and its board of directors as a body, for our work or for this report.

It is your duty to ensure that Arunway 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 loss of Arunway Ltd. You consider that Arunway 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 Arunway 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.

Chavereys Limited
23 November 2023
Chartered Accountants
The Goods Shed
Jubilee Way
Faversham
Kent
England
ME13 8GD
Arunway Ltd
ARUNWAY LTD
Balance Sheet
As At 30 September 2023
30 September 2023
- 2 -
2023
2022
Notes
£
£
£
£
Current assets
Debtors
4
480,069
406,570
Investments
5
280,000
305,000
Cash at bank and in hand
18,026
54,739
778,095
766,309
Creditors: amounts falling due within one year
6
(849,642)
(807,728)
Net current liabilities
(71,547)
(41,419)
Capital and reserves
Called up share capital
100
100
Profit and loss reserves
(71,647)
(41,519)
Total equity
(71,547)
(41,419)

The notes on pages 3 to 5 form part of these financial statements.

The director of the company has elected not to include a copy of the profit and loss account within the financial statements.true

For the financial year ended 30 September 2023 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

The director acknowledges his responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.

The members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476.

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

The financial statements were approved and signed by the director and authorised for issue on 23 November 2023
R A Scripps
Director
Company Registration No. 11574100
Arunway Ltd
ARUNWAY LTD
Notes To The Financial Statements
For The Year Ended 30 September 2023
- 3 -
1
Accounting policies
Company information

Arunway Ltd is a private company limited by shares incorporated in England and Wales. The registered office is C/O Chavereys, The Goods Shed, Jubilee Way, Faversham, Kent, England, ME13 8GD.

1.1
Accounting convention

These financial statements have been prepared in accordance with FRS 102 “The Financial Reporting Standard applicable in the UK and Republic of Ireland” (“FRS 102”) and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime. The disclosure requirements of section 1A of FRS 102 have been applied other than where additional disclosure is required to show a true and fair view.

The financial statements are prepared in sterling, which is the functional currency of the company. Monetary amounts in these financial statements are rounded to the nearest £.

The financial statements have been prepared under the historical cost convention. The principal accounting policies adopted are set out below.

1.2
Going concern

The accounts have been prepared on a going concern basis on the understanding that the director and shareholder will continue to provide financial support to the company for a period of at least twelve months after the balance sheet date, and to enable the company to meet its financial commitments as they fall due.true

1.3
Cash and cash equivalents

Cash and cash equivalents are basic financial assets and include cash in hand, deposits held at call with banks, other short-term liquid investments with original maturities of three months or less, and bank overdrafts. Bank overdrafts are shown within borrowings in current liabilities.

1.4
Taxation

The tax expense represents the sum of the tax currently payable and deferred tax.

Current tax

The tax currently payable is based on taxable profit for the year. Taxable profit differs from net profit as reported in the profit and loss account because it excludes items of income or expense that are taxable or deductible in other years and it further excludes items that are never taxable or deductible. The company’s liability for current tax is calculated using tax rates that have been enacted or substantively enacted by the reporting end date.

Deferred tax

Deferred tax liabilities are generally recognised for all timing differences and deferred tax assets are recognised to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits. Such assets and liabilities are not recognised if the timing difference arises from goodwill or from the initial recognition of other assets and liabilities in a transaction that affects neither the tax profit nor the accounting profit.

 

The carrying amount of deferred tax assets is reviewed at each reporting end date and reduced to the extent that it is no longer probable that sufficient taxable profits will be available to allow all or part of the asset to be recovered. Deferred tax is calculated at the tax rates that are expected to apply in the period when the liability is settled or the asset is realised. Deferred tax is charged or credited in the profit and loss account, except when it relates to items charged or credited directly to equity, in which case the deferred tax is also dealt with in equity. Deferred tax assets and liabilities are offset when the company has a legally enforceable right to offset current tax assets and liabilities and the deferred tax assets and liabilities relate to taxes levied by the same tax authority.

Arunway Ltd
ARUNWAY LTD
Notes To The Financial Statements (Continued)
For The Year Ended 30 September 2023
- 4 -
2
Employees

The average monthly number of persons (including directors) employed by the company during the year was:

2023
2022
Number
Number
Total
1
1
3
Taxation
2023
2022
£
£
Deferred tax
Origination and reversal of timing differences
(9,997)
(5,343)

Tax losses of £95,528 have been carried forward to be offset against future taxable profits.

4
Debtors
2023
2022
Amounts falling due within one year:
£
£
Other debtors
5,477
760
Prepayments and accrued income
450,710
391,925
456,187
392,685
Deferred tax asset (note 7)
23,882
13,885
480,069
406,570
5
Current asset investments
2023
2022
£
£
Other investments
280,000
305,000
6
Creditors: amounts falling due within one year
2023
2022
£
£
Other borrowings
538,882
483,410
Trade creditors
1,501
738
Other creditors
306,659
320,980
Accruals and deferred income
2,600
2,600
849,642
807,728
Arunway Ltd
ARUNWAY LTD
Notes To The Financial Statements (Continued)
For The Year Ended 30 September 2023
- 5 -
7
Deferred taxation

The following are the major deferred tax liabilities and assets recognised by the company and movements thereon:

Assets
Assets
2023
2022
Balances:
£
£
Tax losses
23,882
13,885
2023
Movements in the year:
£
Asset at 1 October 2022
(13,885)
Credit to profit or loss
(9,997)
Asset at 30 September 2023
(23,882)
8
Related party transactions

During the year, the company was advanced funds of £20,000 by Adrian Scripps Limited, of which R A Scripps is also a director. The amount is repayable on demand and the lender reserves the right to charge interest on the amount at a rate of 3% above the base rate. As at 30 September 2023 the company owed the following amounts:

 

2023
2022
Amounts due to related parties
£
£
Other related parties
538,882
483,410
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