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Registration number: 07419198

ARH Acquisitions Limited

Unaudited Filleted Financial Statements

for the Year Ended 31 October 2023

 

ARH Acquisitions Limited

Contents

Company Information

1

Balance Sheet

2 to 3

Notes to the Unaudited Financial Statements

4 to 10

 

ARH Acquisitions Limited

Company Information

Director

Mr Minal Kishorchandra Harji

Registered office

1A Grange Crescent
Chigwell
Essex
IG7 5JB

Accountants

Tahas
Certified Accountants & Tax Advisors
Suite 3, Second Floor
760 Eastern Avenue
Newbury Park
London
IG2 7HU

 

ARH Acquisitions Limited

(Registration number: 07419198)
Balance Sheet as at 31 October 2023

Note

2023
£

2022
£

Fixed assets

 

Tangible assets

4

1,310

1,746

Investment property

5

7,369,700

7,369,700

 

7,371,010

7,371,446

Current assets

 

Debtors

6

22,770

20,000

Cash at bank and in hand

 

275,504

252,277

 

298,274

272,277

Creditors: Amounts falling due within one year

7

(336,295)

(321,465)

Net current liabilities

 

(38,021)

(49,188)

Total assets less current liabilities

 

7,332,989

7,322,258

Creditors: Amounts falling due after more than one year

7

(4,589,522)

(4,680,155)

Net assets

 

2,743,467

2,642,103

Capital and reserves

 

Called up share capital

8

100

100

Retained earnings

2,743,367

2,642,003

Shareholders' funds

 

2,743,467

2,642,103

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.

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.

Approved and authorised by the director on 8 August 2024
 

 

ARH Acquisitions Limited

(Registration number: 07419198)
Balance Sheet as at 31 October 2023

.........................................
Mr Minal Kishorchandra Harji
Director

 

ARH Acquisitions 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:
1A Grange Crescent
Chigwell
Essex
IG7 5JB
United Kingdom

These financial statements were authorised for issue by the director on 8 August 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.

Going concern

The financial statements have been prepared on a going concern basis.

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.

The company recognises revenue when:
The amount of revenue can be reliably measured;
it is probable that future economic benefits will flow to the entity;
and specific criteria have been met for each of the company's activities.

Tax

The tax expense for the period comprises current 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.

 

ARH Acquisitions Limited

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

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.

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.

Depreciation

Depreciation is charged so as to write off the cost of assets, other than land and properties under construction over their estimated useful lives, as follows:

Asset class

Depreciation method and rate

Fixtures and fittings

25% on Reducing balance

Office equipment

25% on Reducing balance

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.

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.

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

 

ARH Acquisitions Limited

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

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 4 (2022 - 4).

 

ARH Acquisitions Limited

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

4

Tangible assets

Furniture, fittings and equipment
 £

Total
£

Cost or valuation

At 1 November 2022

27,204

27,204

At 31 October 2023

27,204

27,204

Depreciation

At 1 November 2022

25,458

25,458

Charge for the year

436

436

At 31 October 2023

25,894

25,894

Carrying amount

At 31 October 2023

1,310

1,310

At 31 October 2022

1,746

1,746

5

Investment properties

2023
£

At 1 November

7,369,700

At 31 October

7,369,700

The freehold property was valued on an open market basis on 31st October 2023. The fair value adjustments reflects the increment from historic cost and the carrying value is considered to be the open market value as assessed by the directors and professional valuers.

The historical costs of the properties is £5,028,563 (2022 - £5,028,563).

There has been no valuation of investment property by an independent valuer.

6

Debtors

Current

2023
£

2022
£

Other debtors

22,770

20,000

 

22,770

20,000

 

ARH Acquisitions Limited

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

7

Creditors

Creditors: amounts falling due within one year

2023
£

2022
£

Due within one year

Trade creditors

105,478

84,613

Taxation and social security

39,956

34,272

Accruals and deferred income

1,440

1,440

Other creditors

189,421

201,140

336,295

321,465

Creditors: amounts falling due after more than one year

Note

2023
£

2022
£

Due after one year

 

Loans and borrowings

9

4,540,672

4,642,005

Other non-current financial liabilities

 

48,850

38,150

 

4,589,522

4,680,155

8

Share capital

Allotted, called up and fully paid shares

2023

2022

No.

£

No.

£

Ordinary of £1 each

100

100

100

100

       

9

Loans and borrowings

Non-current loans and borrowings

2023
£

2022
£

Bank borrowings

3,395,093

3,474,600

Other borrowings

1,145,579

1,167,405

4,540,672

4,642,005

 

ARH Acquisitions Limited

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

10

Related party transactions

 

ARH Acquisitions Limited

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

Director's remuneration

The director's remuneration for the year was as follows:

2023
£

2022
£

Remuneration

12,000

12,000