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Company Registration No. 08847955 (England)
Arton Ltd Unaudited accounts for the year ended 31 December 2023
Arton Ltd Statement of financial position as at 31 December 2023
2023 
2022 
Notes
£ 
£ 
Fixed assets
Investment property
16,085,000 
16,500,000 
Current assets
Debtors
- 
20,730 
Cash at bank and in hand
27,004 
46,862 
27,004 
67,592 
Creditors: amounts falling due within one year
(429,968)
(387,148)
Net current liabilities
(402,964)
(319,556)
Total assets less current liabilities
15,682,036 
16,180,444 
Creditors: amounts falling due after more than one year
(9,754,843)
(10,020,388)
Net assets
5,927,193 
6,160,056 
Capital and reserves
Called up share capital
2 
2 
Profit and loss account
5,927,191 
6,160,054 
Shareholders' funds
5,927,193 
6,160,056 
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. The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
These accounts have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with the provisions of FRS 102 Section 1A - Small Entities. The profit and loss account has not been delivered to the Registrar of Companies.
The financial statements were approved by the Board of Directors and authorised for issue on 5 September 2024 and were signed on its behalf by
Creighton Boyd Director Company Registration No. 08847955
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Arton Ltd Notes to the Accounts for the year ended 31 December 2023
1
Statutory information
Arton Ltd is a private company, limited by shares, registered in England, registration number 08847955. The registered office is 14 Holywell Row, London, EC2A 4JB, United Kingdom.
2
Compliance with accounting standards
The accounts have been prepared in accordance with the provisions of FRS 102 Section 1A Small Entities. There were no material departures from that standard.
3
Accounting policies
The principal accounting policies adopted in the preparation of the financial statements are set out below and have remained unchanged from the previous year, and also have been consistently applied within the same accounts.
Basis of preparation
The accounts have been prepared under the historical cost convention unless otherwise specified within these accounting policies and in accordance with FRS 102 Section 1A.
Presentation currency
The accounts are presented in £ sterling.
Going concern
The directors believe that Arton Ltd has adequate resources available to enable it to continue to meet its ongoing obligations as and when they fall due for at least a period of 12 months from the date of approval of the financial statements. Accordingly, the company continues to adopt the going concern basis in preparation of its financial statements.
Turnover
Turnover is recognised to the extent that it is probable that economic benefits will flow to the company and revenue can be measured reliably. Revenue from a rental contract is measured as the fair value of the consideration received or receivable, excluding discounts, rebate, value added tax and other sales taxes.
Tangible fixed assets and depreciation
Tangible assets are included at cost less depreciation and impairment. Depreciation has been provided at the following rates in order to write off the assets over their estimated useful lives:
Fixtures & fittings
15% straight line
Investment properties
Investment property is measured at fair value with changes in fair value recognised in the Profit and Loss Account. Revalued investment properties are not depreciated or amortised.
Trade and other debtors
Trade and other debtors are initially recognised at fair value and thereafter stated at amortised cost using the effective interest method less impairment losses for bad and doubtful debts except where the effect of discounting would be immaterial. In such cases the receivables are stated at cost less impairment losses for bad and doubtful debts.
Trade and other creditors
Trade and other creditors are initially recognised at fair value and thereafter stated at amortised cost using the effective interest rate method, unless the effect of discounting would be immaterial, in which case they are stated at cost.
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Arton Ltd Notes to the Accounts for the year ended 31 December 2023
Taxation and Deferred taxation
Current tax represents the amount expected to be paid or recovered in respect of taxable profits for the year and is calculated using the tax rates and laws that have been enacted or substantially enacted at the Balance Sheet date.
4
Tangible fixed assets
Fixtures & fittings 
£ 
Cost or valuation
At cost 
At 1 January 2023
124,593 
At 31 December 2023
124,593 
Depreciation
At 1 January 2023
124,593 
At 31 December 2023
124,593 
Net book value
At 31 December 2023
- 
5
Investment property
2023 
£ 
Fair value at 1 January 2023
16,500,000 
Net loss from fair value adjustments
(415,000)
At 31 December 2023
16,085,000 
Investment properties were revalued by the Directors on 31 December 2023. The profit and loss account includes £14,264,025 of accumulated undistributable reserves relating to fair value uplifts recognised on investment properties (2022: £14,679,025).
6
Debtors
2023 
2022 
£ 
£ 
Amounts falling due within one year
Amounts due from group undertakings etc.
- 
20,730 
7
Creditors: amounts falling due within one year
2023 
2022 
£ 
£ 
Bank loans and overdrafts
265,545 
255,416 
Trade creditors
55,088 
33,749 
Amounts owed to group undertakings and other participating interests
13,390 
- 
Other creditors
57,654 
57,653 
Accruals
38,291 
40,330 
429,968 
387,148 
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Arton Ltd Notes to the Accounts for the year ended 31 December 2023
8
Creditors: amounts falling due after more than one year
2023 
2022 
£ 
£ 
Bank loans
9,754,843 
10,020,388 
Aggregate of amounts that fall due for payment after five years
8,565,008 
8,881,358 
Bank loans are secured by way of a fixed charge over property and a floating charge over the assets of the company.
9
Share capital
2023 
2022 
£ 
£ 
Allotted, called up and fully paid:
2 Ordinary shares of £1 each
2 
2 
10
Transactions with related parties
Included within debtors are amounts due from connected companies of £Nil (2022: £20,730). Included within creditors are amounts due to connected companies of £13,390 (2022: £nil). All amounts due are unsecured, interest-free and repayable on demand.
11
Average number of employees
During the year the average number of employees was 0 (2022: 0).
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