0 false false false false false false false false false false true false false false false false false No description of principal activity 2023-01-01 Sage Accounts Production Advanced 2023 - FRS102_2023 835,875 65,875 770,000 770,000 10,252,307 5,194,194 6,599,834 449,987 9,296,654 9,296,654 10,252,307 xbrli:pure xbrli:shares iso4217:GBP 08802049 2023-01-01 2023-12-31 08802049 2023-12-31 08802049 2022-12-31 08802049 2022-01-01 2022-12-31 08802049 2022-12-31 08802049 2021-12-31 08802049 bus:Director2 2023-01-01 2023-12-31 08802049 core:LandBuildings core:LongLeaseholdAssets 2023-12-31 08802049 core:AfterOneYear 2023-12-31 08802049 core:AfterOneYear 2022-12-31 08802049 core:WithinOneYear 2023-12-31 08802049 core:WithinOneYear 2022-12-31 08802049 core:ShareCapital 2023-12-31 08802049 core:ShareCapital 2022-12-31 08802049 core:RetainedEarningsAccumulatedLosses 2023-12-31 08802049 core:RetainedEarningsAccumulatedLosses 2022-12-31 08802049 core:CostValuation core:Non-currentFinancialInstruments 2022-12-31 08802049 core:AdditionsToInvestments core:Non-currentFinancialInstruments 2023-12-31 08802049 core:DisposalsRepaymentsInvestments core:Non-currentFinancialInstruments 2023-12-31 08802049 core:Non-currentFinancialInstruments core:RevaluationsIncreaseDecreaseInInvestments 2023-12-31 08802049 core:CostValuation core:Non-currentFinancialInstruments 2023-12-31 08802049 core:Non-currentFinancialInstruments 2023-12-31 08802049 core:Non-currentFinancialInstruments 2022-12-31 08802049 core:LandBuildings core:LongLeaseholdAssets 2022-12-31 08802049 bus:SmallEntities 2023-01-01 2023-12-31 08802049 bus:AuditExempt-NoAccountantsReport 2023-01-01 2023-12-31 08802049 bus:SmallCompaniesRegimeForAccounts 2023-01-01 2023-12-31 08802049 bus:PrivateLimitedCompanyLtd 2023-01-01 2023-12-31 08802049 bus:FullAccounts 2023-01-01 2023-12-31
COMPANY REGISTRATION NUMBER: 08802049
Aria Investments Limited
Filleted Unaudited Financial Statements
31 December 2023
Aria Investments Limited
Statement of Financial Position
31 December 2023
2023
2022
Note
£
£
Fixed assets
Tangible assets
4
770,000
770,000
Investments
5
9,296,654
10,252,307
-------------
-------------
10,066,654
11,022,307
Current assets
Debtors
6
2,206
1,867
Cash at bank and in hand
68,083
339,129
--------
---------
70,289
340,996
Creditors: amounts falling due within one year
7
3,718,786
3,810,538
------------
------------
Net current liabilities
3,648,497
3,469,542
-------------
-------------
Total assets less current liabilities
6,418,157
7,552,765
Creditors: amounts falling due after more than one year
8
3,922,000
5,321,000
------------
------------
Net assets
2,496,157
2,231,765
------------
------------
Capital and reserves
Called up share capital
100
100
Profit and loss account
2,496,057
2,231,665
------------
------------
Shareholders funds
2,496,157
2,231,765
------------
------------
These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with Section 1A of FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.
In accordance with section 444 of the Companies Act 2006, the statement of income and retained earnings has not been delivered.
For the 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.
Directors' responsibilities:
- The members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476 ;
- The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements .
Aria Investments Limited
Statement of Financial Position (continued)
31 December 2023
These financial statements were approved by the board of directors and authorised for issue on 7 August 2024 , and are signed on behalf of the board by:
Dr R G Forman
Director
Company registration number: 08802049
Aria Investments Limited
Notes to the Financial Statements
Year ended 31 December 2023
1. General information
The company is a private company limited by shares, registered in England and Wales. The address of the registered office is Suite 1, First Floor, 1 Duchess Street, London, W1W 6AN.
2. Statement of compliance
These financial statements have been prepared in compliance with Section 1A of FRS 102, 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland'.
3. Accounting policies
Basis of preparation
The financial statements have been prepared on the historical cost basis, as modified by the revaluation of certain financial assets and liabilities and investment properties measured at fair value through profit or loss.
The financial statements are prepared in sterling, which is the functional currency of the entity.
Revenue recognition
Turnover represents income earned on investments held. Dividends are recognised in the period in which they are received. Interest is recognised on an accruals basis.
Income tax
The taxation expense represents the aggregate amount of current and deferred tax recognised in the reporting period. Tax is recognised in profit or loss, except to the extent that it relates to items recognised in other comprehensive income or directly in equity. In this case, tax is recognised in other comprehensive income or directly in equity, respectively. Current tax is recognised on taxable profit for the current and past periods. Current tax is measured at the amounts of tax expected to pay or recover using the tax rates and laws that have been enacted or substantively enacted at the reporting date.
Deferred tax is recognised in respect of all timing differences at the reporting date. Unrelieved tax losses and other deferred tax assets are recognised to the extent that 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 that are expected to apply to the reversal of the timing difference.
Foreign currencies
Foreign currency transactions are initially recorded in the functional currency, by applying the spot exchange rate as at the date of the transaction. Monetary assets and liabilities denominated in foreign currencies are translated at the exchange rate ruling at the reporting date, with any gains or losses being taken to the profit and loss account.
Operating leases
The company generates short term lease rental income from operating leases on its residential investment property, which is recognised on a straight line basis over the term of the relevant lease. Due to the short term nature of the leases, there is no long term commitment from the tenants in relation to a future income stream.
Investment property
Investment property is initially recorded at cost, which includes purchase price and any directly attributable expenditure. Investment property is revalued to its fair value at each reporting date and any changes in fair value are recognised in profit or loss.
Investments
Listed investments are measured at fair value with changes in fair value being recognised in profit or loss.
Impairment of fixed assets
A review for indicators of impairment is carried out at each reporting date, with the recoverable amount being estimated where such indicators exist. Where the carrying value exceeds the recoverable amount, the asset is impaired accordingly. Prior impairments are also reviewed for possible reversal at each reporting date.
Financial instruments
A financial asset or a financial liability is recognised only when the entity becomes a party to the contractual provisions of the instrument Basic financial instruments are initially recognised at the transaction price, unless the arrangement constitutes a financing transaction, where it is recognised at the present value of the future payments discounted at a market rate of interest for a similar debt instrument. Debt instruments are subsequently measured at amortised cost. Other financial instruments are subsequently measured at fair value, with any changes recognised in profit or loss. Financial assets that are measured at cost or amortised cost are reviewed for objective evidence of impairment at the end of each reporting date. If there is objective evidence of impairment, an impairment loss is recognised in profit or loss immediately. Any reversals of impairment are recognised in profit or loss immediately, to the extent that the reversal does not result in a carrying amount of the financial asset that exceeds what the carrying amount would have been had the impairment not previously been recognised.
4. Tangible assets
Investment property
£
Cost
At 1 January 2023 and 31 December 2023
835,875
---------
Impairment
At 1 January 2023 and 31 December 2023
65,875
---------
Carrying amount
At 31 December 2023
770,000
---------
At 31 December 2022
770,000
---------
Investment property is stated at the directors valuation at the balance sheet date on an open market basis.
5. Investments
Other investments other than loans
£
Valuation
At 1 January 2023
10,252,307
Additions
5,194,194
Disposals
( 6,599,834)
Revaluations
449,987
-------------
At 31 December 2023
9,296,654
-------------
Impairment
At 1 January 2023 and 31 December 2023
-------------
Carrying amount
At 31 December 2023
9,296,654
-------------
At 31 December 2022
10,252,307
-------------
6. Debtors
2023
2022
£
£
Other debtors
2,206
1,867
-------
-------
7. Creditors: amounts falling due within one year
2023
2022
£
£
Corporation tax
30,755
9,464
Other creditors
3,688,031
3,801,074
------------
------------
3,718,786
3,810,538
------------
------------
8. Creditors: amounts falling due after more than one year
2023
2022
£
£
Bank loans and overdrafts
3,922,000
5,321,000
------------
------------
9. Financial instruments
The carrying amount for each category of financial instrument is as follows:
2023
2022
£
£
Financial assets measured at fair value through profit or loss
Financial assets measured at fair value through profit or loss
9,296,654
10,252,307
------------
-------------
10. Called up share capital issued and fully paid
2023
2022
£
£
80 Ordinary 'A' shares of £1 each
80
80
10 Ordinary 'B' shares of £1 each
10
10
10 Ordinary 'C' shares of £1 each
10
10
----
----
100
100
----
----
11. Directors' advances, credits and guarantees
The company continues to be fundamentally reliant upon continuing support of the directors by way of short term loan funding to remain a going concern. During the year, net repayments were made to the directors amounting to £118,018 (2022: £2,837,502). At the year end, the company owed £3,661,680 (2022: £3,779,698) to the directors. The loan is unsecured, interest free and repayable on demand.