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Registration number: 08629525

ARB Assets Limited

Unaudited Filleted Financial Statements

for the Year Ended 31 October 2023

 

ARB Assets Limited

Contents

Balance Sheet

1

Notes to the Unaudited Financial Statements

2 to 7

 

ARB Assets Limited

(Registration number: 08629525)
Balance Sheet as at 31 October 2023

Note

2023
£

2022
£

Fixed assets

 

Investments

4

150

150

Current assets

 

Debtors

5

134,520

165,520

Cash at bank and in hand

 

1,956,418

1,516,622

 

2,090,938

1,682,142

Creditors: Amounts falling due within one year

6

(499)

(499)

Net current assets

 

2,090,439

1,681,643

Net assets

 

2,090,589

1,681,793

Capital and reserves

 

Called up share capital

200

200

Retained earnings

2,090,389

1,681,593

Shareholders' funds

 

2,090,589

1,681,793

For the financial year ending 31 October 2023 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Directors' 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 directors acknowledge their 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 in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006.

These financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime. As permitted by section 444 (5A) of the Companies Act 2006, the directors have not delivered to the registrar a copy of the Profit and Loss Account.

Approved and authorised by the Board on 29 July 2024 and signed on its behalf by:
 

.........................................
B P Sutton
Director

 

ARB Assets Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 October 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:
2 Old Bath Road
Newbury
Berkshire
RG14 1QL
England

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 smaller entities - 'The Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland' and the Companies Act 2006 (as applicable to companies subject to the small companies' regime).

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.

Revenue recognition

Turnover comprises the fair value of the consideration received or receivable for the sale of goods and provision of services in the ordinary course of the company’s activities. Turnover is shown net of sales/value added tax, returns, rebates and discounts.

Tax

The current income 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.

Business combinations

Business combinations are accounted for using the purchase method. The consideration for each acquisition is measured at the aggregate of the fair values at acquisition date of assets given, liabilities incurred or assumed, and equity instruments issued by the group in exchange for control of the acquired, plus any costs directly attributable to the business combination. When a business combination agreement provides for an adjustment to the cost of the combination contingent on future events, the group includes the estimated amount of that adjustment in the cost of the combination at the acquisition date if the adjustment is probable and can be measured reliably.

Investments

Fixed asset investments are stated at historical cost less provision for any diminution in value.

Cash and cash equivalents

Cash and cash equivalents comprise cash on hand and call deposits, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value.

Debtors

Trade debtors are amounts due from customers for merchandise sold or services performed in the ordinary course of business.

 

ARB Assets Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 October 2023

Stocks

Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell.

Trade creditors

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers.

Share capital

Ordinary shares are classified as equity. Equity instruments are measured at the fair value of the cash or other resources received or receivable, net of the direct costs of issuing the equity instruments. If payment is deferred and the time value of money is material, the initial measurement is on a present value basis.

Dividends

Dividend distribution to the company’s shareholders is recognised as a liability in the financial statements in the reporting period in which the dividends are declared.

3

Staff numbers

The average number of persons employed by the company (including directors) during the year, was 2 (2022 - 2).

 

ARB Assets Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 October 2023

4

Investments

2023
£

2022
£

Investments in subsidiaries

150

150

Subsidiaries

£

Cost or valuation

At 1 November 2022

150

Provision

Carrying amount

At 31 October 2023

150

At 31 October 2022

150

 

ARB Assets Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 October 2023

Details of undertakings

Details of the investments (including principal place of business of unincorporated entities) in which the company holds 20% or more of the nominal value of any class of share capital are as follows:

Undertaking

Registered office

Holding

Proportion of voting rights and shares held

     

2023

2022

Subsidiary undertakings

Adaptive Cooling Limited

2 Old Bath Road
Newbury
Berkshire

Ordinary

100%

100%

 

England

     

Subsidiary undertakings

Adaptive Cooling Limited

The principal activity of Adaptive Cooling Limited is Mechanical services installation.

5

Debtors

Current

Note

2023
£

2022
£

Amounts owed by related parties

8

134,520

165,520

   

134,520

165,520

 

ARB Assets Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 October 2023

6

Creditors

Creditors: amounts falling due within one year

2023
£

2022
£

Due within one year

Other creditors

499

499

7

Reserves

R Ordinary share

B Ordinary share

Total

£

£

£

At 1 November 2022

913,890

767,703

1,681,593

Profit for the Year

279,898

279,898

559,796

Dividends

(91,000)

(60,000)

(151,000)

At 31 October 2023

1,102,788

987,601

2,090,389

 

ARB Assets Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 October 2023

8

Related party transactions

Transactions with directors

2023

At 1 November 2022
£

At 31 October 2023
£

R A Walker

Had a loan with the company

(260)

(260)

B P Sutton

Had a loan with the company

(238)

(238)

Summary of transactions with subsidiaries

Adaptive Cooling Limited - provided a loan to the company. At the balance sheet date the amount due from Adaptive Cooling Limited was £134,520 (2022 - (£165,520)).