Caseware UK (AP4) 2023.0.135 2023.0.135 2023-03-312023-03-314property investment2022-04-01false4truetrueThe members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006. 00495950 2022-04-01 2023-03-31 00495950 2021-04-01 2022-03-31 00495950 2023-03-31 00495950 2022-03-31 00495950 c:Director3 2022-04-01 2023-03-31 00495950 d:FreeholdInvestmentProperty 2023-03-31 00495950 d:FreeholdInvestmentProperty 2022-03-31 00495950 d:CurrentFinancialInstruments 2023-03-31 00495950 d:CurrentFinancialInstruments 2022-03-31 00495950 d:CurrentFinancialInstruments d:WithinOneYear 2023-03-31 00495950 d:CurrentFinancialInstruments d:WithinOneYear 2022-03-31 00495950 d:ShareCapital 2023-03-31 00495950 d:ShareCapital 2022-03-31 00495950 d:InvestmentPropertiesRevaluationReserve 2023-03-31 00495950 d:InvestmentPropertiesRevaluationReserve 2022-03-31 00495950 d:RetainedEarningsAccumulatedLosses 2023-03-31 00495950 d:RetainedEarningsAccumulatedLosses 2022-03-31 00495950 c:OrdinaryShareClass1 2022-04-01 2023-03-31 00495950 c:OrdinaryShareClass1 2023-03-31 00495950 c:OrdinaryShareClass1 2022-03-31 00495950 c:FRS102 2022-04-01 2023-03-31 00495950 c:AuditExempt-NoAccountantsReport 2022-04-01 2023-03-31 00495950 c:FullAccounts 2022-04-01 2023-03-31 00495950 c:PrivateLimitedCompanyLtd 2022-04-01 2023-03-31 00495950 d:OtherDeferredTax 2023-03-31 00495950 d:OtherDeferredTax 2022-03-31 00495950 e:PoundSterling 2022-04-01 2023-03-31 xbrli:shares iso4217:GBP xbrli:pure

Registered number: 00495950









ARATAN PROPERTIES LIMITED







UNAUDITED

FINANCIAL STATEMENTS

INFORMATION FOR FILING WITH THE REGISTRAR

FOR THE YEAR ENDED 31 MARCH 2023

 
ARATAN PROPERTIES LIMITED
 

CONTENTS



Page
Balance sheet
 
1 - 2
Notes to the financial statements
 
3 - 8


 
ARATAN PROPERTIES LIMITED
REGISTERED NUMBER: 00495950

BALANCE SHEET
AS AT 31 MARCH 2023

2023
2022
Note
£
£

Fixed assets
  

Investment property
 4 
1,850,000
1,850,000

  
1,850,000
1,850,000

Current assets
  

Debtors
  
588
-

Cash at bank and in hand
 5 
250,860
189,096

  
251,448
189,096

Creditors: amounts falling due within one year
 6 
(52,561)
(15,085)

Net current assets
  
 
 
198,887
 
 
174,011

Total assets less current liabilities
  
2,048,887
2,024,011

Provisions for liabilities
  

Deferred tax
 7 
(271,000)
(271,000)

  
 
 
(271,000)
 
 
(271,000)

Net assets
  
1,777,887
1,753,011


Capital and reserves
  

Called up share capital 
 8 
1,800
1,800

Investment property reserve
  
1,554,139
1,554,139

Profit and loss account
  
221,948
197,072

  
1,777,887
1,753,011


Page 1

 
ARATAN PROPERTIES LIMITED
REGISTERED NUMBER: 00495950
    
BALANCE SHEET (CONTINUED)
AS AT 31 MARCH 2023

The directors consider that the Company is entitled to exemption from audit under section 477 of the Companies Act 2006 and members have not required the Company to obtain an audit for the year in question in accordance with section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.

The financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies regime and in accordance with the provisions of FRS 102 Section 1A - small entities.

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

The Company has opted not to file the statement of comprehensive income in accordance with provisions applicable to companies subject to the small companies' regime.

The financial statements were approved and authorised for issue by the board and were signed on its behalf on 5 March 2024.



................................................
D N Lew
Director

The notes on pages 3 to 8 form part of these financial statements.

Page 2

 
ARATAN PROPERTIES LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2023

1.


General information

Aratan Properties Limited is a company limited by shares incorporated in England and Wales.  The registered office is 35 Ballards Lane, London, N3 1XW. The principal activity is property investment.

2.Accounting policies

 
2.1

Basis of preparation of financial statements

The financial statements have been prepared under the historical cost convention unless otherwise specified within these accounting policies and in accordance with Section 1A of Financial Reporting Standard 102, the Financial Reporting Standard applicable in the UK and the Republic of Ireland and the Companies Act 2006.

The following principal accounting policies have been applied:

 
2.2

Revenue

Revenue is recognised to the extent that it is probable that the economic benefits will flow to the Company and the revenue can be reliably measured. Revenue is measured as the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. The following criteria must also be met before revenue is recognised:

Turnover comprises revenue recognised by the company in respect of rental, exclusive of Value Added Tax and trade discounts.

 
2.3

Current and deferred taxation

The tax expense for the year comprises current and deferred tax. Tax is recognised in profit or loss except that a charge attributable to an item of income and expense recognised as other comprehensive income or to an item recognised directly in equity is also recognised in other comprehensive income or directly in equity respectively.

The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the balance sheet date in the countries where the Company operates and generates income.

Deferred tax balances are recognised in respect of all timing differences that have originated but not reversed by the balance sheet date, except that:
The recognition of deferred tax assets is limited to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits; and
Any deferred tax balances are reversed if and when all conditions for retaining associated tax allowances have been met.

Deferred tax balances are not recognised in respect of permanent differences except in respect of business combinations, when deferred tax is recognised on the differences between the fair values of assets acquired and the future tax deductions available for them and the differences between the fair values of liabilities acquired and the amount that will be assessed for tax. Deferred tax is determined using tax rates and laws that have been enacted or substantively enacted by the balance sheet date.

Page 3

 
ARATAN PROPERTIES LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2023

2.Accounting policies (continued)

 
2.4

Investment property

Investment property is carried at fair value determined annually by external valuers and derived from the current market rents and investment property yields for comparable real estate, adjusted if necessary for any difference in the nature, location or condition of the specific asset. No depreciation is provided. Changes in fair value are recognised in profit or loss.
 
2.5

Debtors

Short-term debtors are measured at transaction price, less any impairment. Loans receivable are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method, less any impairment.

Page 4

 
ARATAN PROPERTIES LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2023

2.Accounting policies (continued)

 
2.6

Cash and cash equivalents

Cash is represented by cash in hand and deposits with financial institutions repayable without penalty on notice of not more than 24 hours. Cash equivalents are highly liquid investments that mature in no more than three months from the date of acquisition and that are readily convertible to known amounts of cash with insignificant risk of change in value.

 
2.7

Creditors

Short-term creditors are measured at the transaction price. Other financial liabilities, including bank loans, are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method.

 
2.8

Provisions for liabilities

Provisions are recognised when an event has taken place that gives rise to a legal or constructive obligation, a transfer of economic benefits is probable and a reliable estimate can be made.
Provisions are measured as the best estimate of the amount required to settle the obligation, taking into account the related risks and uncertainties.
 
Increases in provisions are generally charged as an expense to profit or loss.

 
2.9

Dividends

Equity dividends are recognised when they become legally payable. Interim equity dividends are recognised when paid. Final equity dividends are recognised when approved by the shareholders at an annual general meeting.


3.


Employees

The average monthly number of employees, including directors, during the year was 4 (2022 - 4).

Page 5

 
ARATAN PROPERTIES LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2023

4.


Investment property


Freehold investment property

£



Valuation


At 1 April 2022
1,850,000



At 31 March 2023
1,850,000

The 2023 valuations were made by the directors, on an open market value for existing use basis.

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2023
2022
£
£

Revaluation reserves


At 1 April 2022
1,554,139
1,619,139

Net deficit in movement properties
-
(65,000)

At 31 March 2023
1,554,139
1,554,139



If the Investment properties had been accounted for under the historic cost accounting rules, the properties would have been measured as follows:

2023
2022
£
£


Historic cost
24,861
24,861

24,861
24,861


5.


Cash and cash equivalents

2023
2022
£
£

Cash at bank and in hand
250,860
189,096

250,860
189,096


Page 6

 
ARATAN PROPERTIES LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2023

6.


Creditors: Amounts falling due within one year

2023
2022
£
£

Trade creditors
-
(11,029)

Corporation tax
13,695
6,748

Other taxation and social security
22,306
8,034

Other creditors
2,080
1,852

Accruals and deferred income
14,480
9,480

52,561
15,085



7.


Deferred taxation




2023


£






At beginning of year
(271,000)



At end of year
(271,000)

The provision for deferred taxation is made up as follows:

2023
2022
£
£


Revaluation of investment property
(271,000)
(271,000)

(271,000)
(271,000)


8.


Share capital

2023
2022
£
£
Allotted, called up and fully paid



1,800 (2022 - 1,800) Ordinary shares of £1.00 each
1,800
1,800


Page 7

 
ARATAN PROPERTIES LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2023

9.


Related party transactions

The company was under the joint control of the directors of the company, throughout the current and previous year.  
The following dividends were paid to directors during the year:


2023
2022
£
£

J H Lever
7,500
7,500
C Lever
7,500
7,500
D N Lew
2,500
2,500
I J Lew
2,500
2,500
20,000
20,000


10.


Controlling party

There is no overall controlling party.

Page 8