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Registration number: 10001479

Arba Ground Trading Company Limited

Unaudited Filleted Financial Statements

for the Year Ended 31 December 2023

 

Arba Ground Trading Company Limited

Contents

Balance Sheet

1 to 2

Notes to the Unaudited Financial Statements

3 to 8

 

Arba Ground Trading Company Limited

(Registration number: 10001479)
Balance Sheet as at 31 December 2023

Note

2023
£

2022
£

Fixed assets

 

Tangible assets

29,031

-

Current assets

 

Stocks

4

6,409,288

5,780,198

Debtors

5

1,771,998

947,217

Cash at bank and in hand

 

311

-

 

8,181,597

6,727,415

Creditors: Amounts falling due within one year

6

(7,734,858)

(5,876,025)

Net current assets

 

446,739

851,390

Total assets less current liabilities

 

475,770

851,390

Provisions for liabilities

(7,258)

-

Net assets

 

468,512

851,390

Capital and reserves

 

Called up share capital

60

60

Retained earnings

468,452

851,330

Shareholders' funds

 

468,512

851,390

For the financial year ending 31 December 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 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 director has not delivered to the registrar a copy of the Profit and Loss Account.

 

Arba Ground Trading Company Limited

(Registration number: 10001479)
Balance Sheet as at 31 December 2023

Approved and authorised by the director on 29 July 2024
 

.........................................
Mr N S Griffiths
Director

 

Arba Ground Trading Company Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 December 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:
Unit D Xenon Park
Worcester Avenue
Wheatley
Doncaster
DN2 4NB

These financial statements were authorised for issue by the director on 29 July 2024.

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 is recognised at legal completion in respect of the total proceeds of building and development. Turnover is measured at the fair value of consideration receivable and represents the amount receivable for a property, net of discounts and VAT.

Government grants

Government grants are recognised at the fair value of the asset received or receivable when there is reasonable assurance that the company will comply with conditions attaching to them and the grants will be received using the accrual model.

Tax

The tax expense for the period comprises current and deferred 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 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.

 

Arba Ground Trading Company Limited

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

Deferred tax is recognised in respect of all timing differences between taxable profits and profits reported in the financial statements.

Unrelieved tax losses and other deferred tax assets are recognised when it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits.

Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date and that are expected to apply to the reversal of the timing difference.

Tangible assets

Tangible assets are stated in the balance sheet at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.

The cost of tangible assets includes directly attributable incremental costs incurred in their acquisition and installation.

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.

Trade debtors

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

Trade debtors are recognised initially at the transaction price. They are subsequently measured at amortised cost using the effective interest method, less provision for impairment. A provision for the impairment of trade debtors is established when there is objective evidence that the company will not be able to collect all amounts due according to the original terms of the receivables.

Stocks

Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell. Cost is determined using the first-in, first-out (FIFO) method.

The cost of finished goods and work in progress comprises direct materials and, where applicable, direct labour costs and those overheads that have been incurred in bringing the inventories to their present location and condition. At each reporting date, stocks are assessed for impairment. If stocks are impaired, the carrying amount is reduced to its selling price less costs to complete and sell; the impairment loss is recognised immediately in profit or loss.

 

Arba Ground Trading Company Limited

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

Trade creditors

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Accounts payable are classified as current liabilities if the company does not have an unconditional right, at the end of the reporting period, to defer settlement of the creditor for at least twelve months after the reporting date. If there is an unconditional right to defer settlement for at least twelve months after the reporting date, they are presented as non-current liabilities.

Trade creditors are recognised initially at the transaction price and subsequently measured at amortised cost using the effective interest method.

Borrowings

Interest-bearing borrowings are initially recorded at fair value, net of transaction costs. Interest-bearing borrowings are subsequently carried at amortised cost, with the difference between the proceeds, net of transaction costs, and the amount due on redemption being recognised as a charge to the profit and loss account over the period of the relevant borrowing.

Interest expense is recognised on the basis of the effective interest method and is included in interest payable and similar charges.

Borrowings are classified as current liabilities unless the company has an unconditional right to defer settlement of the liability for at least twelve months after the reporting date.

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 the director) during the year, was 1 (2022 - 1).

4

Stocks

2023
£

2022
£

Other inventories

6,409,288

5,780,198

 

Arba Ground Trading Company Limited

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

5

Debtors

Note

2023
£

2022
£

Trade debtors

 

12,532

4,172

Amounts owed by related parties

8

1,388,086

681,859

Other debtors

 

370,058

259,856

Prepayments

 

1,322

1,330

 

1,771,998

947,217

6

Creditors

Creditors: amounts falling due within one year

Note

2023
£

2022
£

Due within one year

 

Loans and borrowings

7

2,500,000

2,745,006

Trade creditors

 

1,414,756

95,498

Amounts owed to related parties

8

3,105,306

2,471,479

Corporation tax

 

153,205

237,287

Other creditors

 

2,500

608

Accrued expenses

 

559,091

326,147

 

7,734,858

5,876,025

Creditors includes loans which are secured of £2,500,000 (2021 - £2,745,000).

7

Loans and borrowings

Current loans and borrowings

2023
£

2022
£

Bank overdrafts

-

6

Other borrowings

2,500,000

2,745,000

2,500,000

2,745,006

 

Arba Ground Trading Company Limited

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

8

Related party transactions

Loans to related parties

2023

Parent
£

Entities with joint control or significant influence
£

Total
£

At start of period

375,000

306,859

681,859

Advanced

-

706,227

706,227

At end of period

375,000

1,013,086

1,388,086

2022

Parent
£

Entities with joint control or significant influence
£

Total
£

At start of period

375,000

760,799

1,135,799

Repaid

-

(453,940)

(453,940)

At end of period

375,000

306,859

681,859

Loans from related parties

2023

Entities with joint control or significant influence
£

Total
£

At start of period

2,471,479

2,471,479

Advanced

629,262

629,262

At end of period

3,100,741

3,100,741

2022

Entities with joint control or significant influence
£

Total
£

At start of period

1,252,400

1,252,400

Advanced

1,219,079

1,219,079

At end of period

2,471,479

2,471,479

Terms of loans from related parties

 

Arba Ground Trading Company Limited

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

There are no repayment terms and interest is not charged on the balances.
 

9

Parent and ultimate parent undertaking

The company's immediate parent is Hawthorn Group Holdings Limited, incorporated in England and Wales.