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Arun Holdings Limited

Annual Report and Unaudited Financial Statements

for the Year Ended 30 November 2023

Registration number: 03041317

 

Arun Holdings Limited

Contents

Statement of financial position

1

Notes to the Unaudited Financial Statements

2 to 6

 

Arun Holdings Limited

(Registration number: 03041317)
Statement of financial position as at 30 November 2023

Note

2023
£

2022
£

Fixed assets

 

Tangible assets

5

1,014,946

1,016,596

Investments

6

100

100

 

1,015,046

1,016,696

Current assets

 

Debtors

7

111,927

96,929

Creditors: Amounts falling due within one year

8

(178,910)

(133,867)

Net current liabilities

 

(66,983)

(36,938)

Total assets less current liabilities

 

948,063

979,758

Creditors: Amounts falling due after more than one year

8

-

(38,030)

Net assets

 

948,063

941,728

Capital and reserves

 

Called up share capital

9

600,102

600,102

Revaluation reserve

379,667

379,667

Retained earnings

(31,706)

(38,041)

Shareholders' funds

 

948,063

941,728

For the financial year ending 30 November 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 Income statement.

Approved and authorised by the director on 21 August 2024
 

.........................................
Mr D de Grouchy
Director

 

Arun Holdings Limited

Notes to the Unaudited Financial Statements for the Year Ended 30 November 2023

1

General information

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

The address of its registered office is:
Codmore Hill Garage
Stane Street
Pulborough
West Sussex
RH20 1BQ
United Kingdom

These financial statements were authorised for issue by the director on 21 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.

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.

 

Arun Holdings Limited

Notes to the Unaudited Financial Statements for the Year Ended 30 November 2023

Tangible assets

Tangible assets are stated in the statement of financial position 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

Land and buildings

Not provided

Plant, equipment and machinery

25% reducing balance

Motor vehicles

20% reducing balance

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.

Goodwill

Goodwill arising on the acquisition of an entity represents the excess of the cost of acquisition over the company’s interest in the net fair value of the identifiable assets, liabilities and contingent liabilities of the entity recognised at the date of acquisition. Goodwill is initially recognised as an asset at cost and is subsequently measured at cost less accumulated amortisation and accumulated impairment losses. Goodwill is held in the currency of the acquired entity and revalued to the closing rate at each reporting period date. Goodwill is amortised over its useful life, which shall not exceed ten years if a reliable estimate of the useful life cannot be made.

Amortisation

Amortisation is provided on intangible assets so as to write off the cost, less any estimated residual value, over their useful life as follows:

Asset class

Amortisation method and rate

Goodwill

5% straight line

Investments

Investments in equity shares which are publicly traded or where the fair value can be measured reliably are initially measured at fair value, with changes in fair value recognised in profit or loss. Investments in equity shares which are not publicly traded and where fair value cannot be measured reliably are measured at cost less impairment.


Interest income on debt securities, where applicable, is recognised in income using the effective interest method. Dividends on equity securities are recognised in income when receivable.

 

Arun Holdings Limited

Notes to the Unaudited Financial Statements for the Year Ended 30 November 2023

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 income statement 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.

3

Staff numbers

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

4

Intangible assets

Goodwill
 £

Total
£

Cost or valuation

At 1 December 2022

241,210

241,210

At 30 November 2023

241,210

241,210

Amortisation

At 1 December 2022

241,210

241,210

At 30 November 2023

241,210

241,210

Carrying amount

At 30 November 2023

-

-

 

Arun Holdings Limited

Notes to the Unaudited Financial Statements for the Year Ended 30 November 2023

5

Tangible assets

Land and buildings
£

Furniture, fittings and equipment
 £

Total
£

Cost or valuation

At 1 December 2022

1,082,981

70,159

1,153,140

At 30 November 2023

1,082,981

70,159

1,153,140

Depreciation

At 1 December 2022

72,980

63,564

136,544

Charge for the year

-

1,650

1,650

At 30 November 2023

72,980

65,214

138,194

Carrying amount

At 30 November 2023

1,010,001

4,945

1,014,946

At 30 November 2022

1,010,001

6,595

1,016,596

6

Investments

2023
£

2022
£

Investments in subsidiaries

100

100

Subsidiaries

£

Cost or valuation

At 1 December 2022

100

Provision

Carrying amount

At 30 November 2023

100

At 30 November 2022

100

 

Arun Holdings Limited

Notes to the Unaudited Financial Statements for the Year Ended 30 November 2023

7

Debtors

Note

2023
£

2022
£

Amounts owed by related parties

59,418

59,418

Other debtors

 

52,509

37,511

 

111,927

96,929

8

Creditors

Creditors: amounts falling due within one year

Note

2023
£

2022
£

Due within one year

 

Loans and borrowings

42,437

64,293

Amounts owed to group undertakings and undertakings in which the company has a participating interest

134,600

69,050

Taxation and social security

 

1,873

524

 

178,910

133,867

Creditors: amounts falling due after more than one year

Note

2023
£

2022
£

Due after one year

 

Loans and borrowings

-

38,030

9

Share capital

Allotted, called up and fully paid shares

2023

2022

No.

£

No.

£

Ordinary of £1 each

600,002

600,002

600,002

600,002

Ordinary B of £1 each

100

100

100

100

600,102

600,102

600,102

600,102