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REGISTERED NUMBER: 11108462 (England and Wales)









UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MAY 2023

FOR

ARTIN HOMES LTD.

ARTIN HOMES LTD. (REGISTERED NUMBER: 11108462)

CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MAY 2023










Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


ARTIN HOMES LTD.

COMPANY INFORMATION
FOR THE YEAR ENDED 31 MAY 2023







DIRECTORS: J A D Yeganeh
N Panahi





REGISTERED OFFICE: 4th Floor Tuition House
27-37 St George's Road
Wimbledon
London
SW19 4EU





BUSINESS ADDRESS: Flat 3
Marlborough House
Somerset Road
London
SW19 5HZ





REGISTERED NUMBER: 11108462 (England and Wales)





ACCOUNTANTS: Hartley Fowler LLP
Chartered Accountants
4th Floor Tuition House
27-37 St George's Road
Wimbledon
London
SW19 4EU

ARTIN HOMES LTD. (REGISTERED NUMBER: 11108462)

BALANCE SHEET
31 MAY 2023

2023 2022
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 422 811
Investments 5 30 30
452 841

CURRENT ASSETS
Stocks - 1,273,142
Debtors 6 164,119 519,640
Cash at bank 96,337 3,189
260,456 1,795,971
CREDITORS
Amounts falling due within one year 7 82,033 1,960,314
NET CURRENT ASSETS/(LIABILITIES) 178,423 (164,343 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

178,875

(163,502

)

CREDITORS
Amounts falling due after more than one
year

8

4,365

7,265
NET ASSETS/(LIABILITIES) 174,510 (170,767 )

CAPITAL AND RESERVES
Called up share capital 10 10
Retained earnings 174,500 (170,777 )
SHAREHOLDERS' FUNDS 174,510 (170,767 )

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

The members have not required the company to obtain an audit of its financial statements for the year ended 31 May 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.

ARTIN HOMES LTD. (REGISTERED NUMBER: 11108462)

BALANCE SHEET - continued
31 MAY 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 Income Statement has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 5 February 2024 and were signed on its behalf by:





J A D Yeganeh - Director


ARTIN HOMES LTD. (REGISTERED NUMBER: 11108462)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MAY 2023


1. STATUTORY INFORMATION

Artin Homes 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.

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

Revenue is measured at fair value of the consideration received or receivable. Revenue is reduced for estimated customer returns, rebates and other similar allowances. Revenue from the sale of goods is recognised when goods are delivered and legal title has passed.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.

Depreciation rate for Computer Equipment: 33% SL.

Investments in associates
Investments in associate undertakings are recognised at cost.

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

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.

ARTIN HOMES LTD. (REGISTERED NUMBER: 11108462)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 MAY 2023


2. ACCOUNTING POLICIES - continued

Debtors and creditors receivable / payable within one year
Debtors and creditors with no stated interest rate and receivables or payables within one year are recorded at transaction price. Any losses arising from impairment are recognised in the profit and loss account in other administrative expenses.

Impairment
Assets not measured at fair value are reviewed for any indication that the asset may be impaired at each balance sheet date. If such indication exists, the recoverable amount of the asset, or the asset's cash generating unit, is estimated and compared to the carrying amount. Where the carrying amount exceeds its recoverable amount, an impairment loss is recognised in profit or loss unless the asset is carried at a revalued amount where the impairment loss is a revaluation decrease.

Going concern
Due to the ongoing support of the company's principal shareholders the directors believes that it is appropriate to prepare the financial statements on the going concern basis, which assumes that the company will continue in operational existence for the foreseeable future.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 2 (2022 - 3 ) .

4. TANGIBLE FIXED ASSETS
Computer
equipment
£   
COST
At 1 June 2022
and 31 May 2023 4,771
DEPRECIATION
At 1 June 2022 3,960
Charge for year 389
At 31 May 2023 4,349
NET BOOK VALUE
At 31 May 2023 422
At 31 May 2022 811

5. FIXED ASSET INVESTMENTS
Interest
in
associate
£   
COST
At 1 June 2022
and 31 May 2023 30
NET BOOK VALUE
At 31 May 2023 30
At 31 May 2022 30

ARTIN HOMES LTD. (REGISTERED NUMBER: 11108462)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 MAY 2023


6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Amounts owed by associates 163,966 514,966
Other debtors 153 4,674
164,119 519,640

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Bank loans and overdrafts 1,468 -
Other loans - 765,000
Trade creditors - 3,561
Tax 46,312 -
Social security and other taxes 538 1,563
Other creditors 25,432 24,105
Directors' loan accounts 2,283 1,136,981
Accrued expenses 6,000 29,104
82,033 1,960,314

The loan of £765,000 is secured on the property at First floor, 38 Chipstead Street, London, SW6 3SS.

8. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR
2023 2022
£    £   
Bank loans - 1-2 years 1,505 1,500
Bank loans - 2-5 years 2,860 5,765
4,365 7,265

9. DIRECTORS' ADVANCES, CREDITS AND GUARANTEES

At the balance sheet date the directors loan account was in credit as follows: J A D Yeganeh £2,283 Cr (2022: £1,136,981 Cr) . This loan is unsecured, non interest bearing and has no repayment terms.

10. RELATED PARTY DISCLOSURES

At the balance sheet, the company was owed £163,966 (2022: £514,966) by Fulham (Arte) Limited, an associate company incorporated in England and Wales. This loan bears no interest and there are no repayment terms.