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Argon Freehold Ltd

Annual Report and Unaudited Financial Statements
Year Ended 31 March 2023

Registration number: 12698238

 

Argon Freehold Ltd

Contents

Balance Sheet

1

Notes to the Unaudited Financial Statements

2 to 4

 

Argon Freehold Ltd

Balance Sheet

31 March 2023

Note

2023
£

2022
£

Fixed assets

 

Investment property

4

39,000

39,000

Current assets

 

Debtors

5

411,674

410,324

Creditors: Amounts falling due within one year

6

(410,087)

(409,344)

Net current assets

 

1,587

980

Net assets

 

40,587

39,980

Capital and reserves

 

Called up share capital

7

15

15

Profit and loss account

40,572

39,965

Shareholders' funds

 

40,587

39,980

For the financial 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 accounts for the year in question in accordance with section 476; and

The director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

These financial statements have been prepared and delivered in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006 and the option not to file the Profit and Loss Account has been taken.

Approved and authorised by the director on 5 March 2024
 

.........................................
S T Janes
Director

Company Registration Number: 12698238

 

Argon Freehold Ltd

Notes to the Unaudited Financial Statements

Year Ended 31 March 2023

1

General information

The company is a private company limited by share capital, incorporated in England and Wales.

The address of its registered office is:
202 Sandbanks Road
Poole
BH14 8HA

These financial statements were authorised for issue by the director on 5 March 2024.

These financial statements replace the original financial statements and are now the statutory financial statements.

2

Accounting policies

Summary of significant accounting policies and key accounting estimates

The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.

Statement of compliance

These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A - 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' and the Companies Act 2006.

Basis of preparation

These financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.

Tax

Tax is recognised in profit or loss, except that a change attributable to an item of income or expense recognised as other comprehensive income is also recognised directly in other comprehensive income.

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

Investment property

Investment property is carried at fair value, derived from the current market prices for comparable real estate determined annually by external valuers. The valuers use observable market prices, adjusted if necessary for any difference in the nature, location or condition of the specific asset. Changes in fair value are recognised in profit or loss.

 

Argon Freehold Ltd

Notes to the Unaudited Financial Statements

Year Ended 31 March 2023

Financial instruments

Classification
The company holds the following financial instruments:

• Short term trade and other debtors and creditors;

All financial instruments are classified as basic.

 Recognition and measurement
The company has chosen to apply the recognition and measurement principles in FRS102.

Financial instruments are recognised when the company becomes party to the contractual provisions of the instrument and derecognised when in the case of assets, the contractual rights to cash flows from the assets expire or substantially all the risks and rewards of ownership are transferred to another party, or in the case of liabilities, when the company’s obligations are discharged, expire or are cancelled.

Except for bank loans, such instruments are initially measured at transaction price, including transaction costs, and are subsequently carried at the undiscounted amount of the cash or other consideration expected to be paid or received, after taking account of impairment adjustments.

Bank loans are initially measured at transaction price, including transaction costs, and are subsequently carried at amortised cost using the effective interest method.


 

3

Staff numbers

The average number of persons employed by the company (including the director) during the year, was 1 (2022 - 1).

4

Investment properties

2023
£

At 1 April 2022

39,000

At 31 March 2023

39,000

 

Argon Freehold Ltd

Notes to the Unaudited Financial Statements

Year Ended 31 March 2023

5

Debtors

2023
£

2022
£

Amounts owed by group undertakings

411,659

410,309

Other debtors

15

15

411,674

410,324

6

Creditors

Creditors: amounts falling due within one year

2023
£

2022
£

Due within one year

Amounts owed to group undertakings

407,159

408,059

Corporation tax

228

85

Accruals and deferred income

2,700

1,200

410,087

409,344

7

Share capital

Allotted, called up and fully paid shares

 

2023

2022

 

No.

£

No.

£

Ordinary of £1 each

15

15

15

15