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REGISTERED NUMBER: 00411964 (England and Wales)















UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 DECEMBER 2023

FOR

ARNETT PROPERTIES LTD

ARNETT PROPERTIES LTD (REGISTERED NUMBER: 00411964)

CONTENTS OF THE FINANCIAL STATEMENTS
for the Year Ended 31 December 2023










Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


ARNETT PROPERTIES LTD

COMPANY INFORMATION
for the Year Ended 31 December 2023







DIRECTORS: Mrs P M Arnett
H V Arnett





SECRETARY: Mrs P M Arnett





REGISTERED OFFICE: 25 Checkstone Avenue
Bessacarr
Doncaster
South Yorkshire
DN4 7JY





REGISTERED NUMBER: 00411964 (England and Wales)





ACCOUNTANTS: Sowerby
Chartered Accountants
50-52 Aire Street
Goole
DN14 5QE

ARNETT PROPERTIES LTD (REGISTERED NUMBER: 00411964)

BALANCE SHEET
31 December 2023

2023 2022
Notes £    £    £    £   
FIXED ASSETS
Investment property 4 250,000 250,000

CURRENT ASSETS
Debtors 5 6,040 2,933
Cash at bank 21,750 21,193
27,790 24,126
CREDITORS
Amounts falling due within one year 6 3,679 1,664
NET CURRENT ASSETS 24,111 22,462
TOTAL ASSETS LESS CURRENT
LIABILITIES

274,111

272,462

PROVISIONS FOR LIABILITIES 41,525 41,525
NET ASSETS 232,586 230,937

CAPITAL AND RESERVES
Called up share capital 9,000 9,000
Revaluation reserve 7 122,544 122,544
Fair value reserve 7 20,251 20,251
Retained earnings 80,791 79,142
SHAREHOLDERS' FUNDS 232,586 230,937

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 December 2023.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 December 2023 in accordance with Section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for:
(a)ensuring that the company keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006 and
(b)preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of each financial year and of its profit or loss for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the company.

ARNETT PROPERTIES LTD (REGISTERED NUMBER: 00411964)

BALANCE SHEET - continued
31 December 2023


The financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 20 August 2024 and were signed on its behalf by:





H V Arnett - Director


ARNETT PROPERTIES LTD (REGISTERED NUMBER: 00411964)

NOTES TO THE FINANCIAL STATEMENTS
for the Year Ended 31 December 2023


1. STATUTORY INFORMATION

Arnett Properties Ltd is a private company, limited by shares, incorporated and domiciled in England.

The company's registered number is 00411964 and registered office and principal place of business is at 25 Checkstone Avenue, Bessacarr, Doncaster, DN14 7JY.

The financial statements are presented in Pound Sterling, which is the functional currency of the company.

The principal activity of the company is the letting of real estate.

2. ACCOUNTING POLICIES

Basis of preparing the financial statements
These financial statements have been prepared in accordance with Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" including the provisions of Section 1A "Small Entities" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention as modified by the revaluation of certain assets.

Having regard to liquidity risk, current market conditions and other factors affecting the company, the use of the going concern basis of accountancy is appropriate as, in the opinion of the directors, there are no material uncertainties related to events or conditions that may cast significant doubt about the ability of the company to continue as a going concern.

Turnover
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Turnover from the sale of goods is recognised at the point of sale.

Turnover from services is recognised on completion of service, or when those services span the year end date, by reference to the stage of completion at the balance sheet date.

Investment property
Investment property is shown at most recent valuation. Any aggregate surplus or deficit arising from changes in fair value is recognised in profit or loss.

Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Income Statement, except to the extent that it relates to items recognised in other comprehensive income or directly in equity.

Current or deferred taxation assets and liabilities are not discounted.

Current tax is recognised at the amount of tax payable using the tax rates and laws that have been enacted or substantively enacted by the balance sheet date.


ARNETT PROPERTIES LTD (REGISTERED NUMBER: 00411964)

NOTES TO THE FINANCIAL STATEMENTS - continued
for the Year Ended 31 December 2023


2. ACCOUNTING POLICIES - continued
Deferred tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date.

Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from those in which they are recognised in financial statements. Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the year end and that are expected to apply to the reversal of the timing difference.

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

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 2 (2022 - 2 ) .

4. INVESTMENT PROPERTY
Total
£   
FAIR VALUE
At 1 January 2023
and 31 December 2023 250,000
NET BOOK VALUE
At 31 December 2023 250,000
At 31 December 2022 250,000

Fair value at 31 December 2023 is represented by:
£   
Valuation in 2016 25,001
Valuation in 2009 135,907
Valuation in 1992 57,645
Cost 31,447
250,000

If investment property had not been revalued it would have been included at the following historical cost:

2023 2022
£    £   
Cost 224,999 224,999

Investment property was valued on a fair value basis on 31 December 2019 by the directors .

The directors review investment properties annually and consider the valuation to be fairly stated.

ARNETT PROPERTIES LTD (REGISTERED NUMBER: 00411964)

NOTES TO THE FINANCIAL STATEMENTS - continued
for the Year Ended 31 December 2023


5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Trade debtors 4,745 1,348
Other debtors 1,295 1,585
6,040 2,933

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Trade creditors - 260
Taxation and social security 410 203
Other creditors 3,269 1,201
3,679 1,664

7. RESERVES
Fair
Revaluation value
reserve reserve Totals
£    £    £   
At 1 January 2023
and 31 December 2023 122,544 20,251 142,795

8. RELATED PARTY DISCLOSURES

At the balance sheet date the company owed its directors £438 (2022: the directors owed the company £166). The loan is interest free and was repaid within 9 months of the year end.