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Registration number: 11354814

ARC Home Investments Ltd

Unaudited Filleted Financial Statements

for the Year Ended 31 January 2024

 

ARC Home Investments Ltd

Contents

Company Information

1

Balance Sheet

2 to 3

Notes to the Unaudited Financial Statements

4 to 8

 

ARC Home Investments Ltd

Company Information

Directors

AR Charles

Mrs RJ Charles

Registered office

Suite A4, Skylon Court
Coldnose Road
Rotherwas
Hereford
HR2 6JS

Accountants

Boon and Worth Limited
Suite A4, Skylon Court
Coldnose Road
Rotherwas
Hereford
HR2 6JS

 

ARC Home Investments Ltd

(Registration number: 11354814)
Balance Sheet as at 31 January 2024

Note

2024
£

2023
£

Fixed assets

 

Tangible assets

4

187

347

Investment property

5

1,468,530

1,468,530

 

1,468,717

1,468,877

Current assets

 

Debtors

2,546

1,635

Cash at bank and in hand

 

4,991

9,098

 

7,537

10,733

Creditors: Amounts falling due within one year

6

(261,215)

(278,969)

Net current liabilities

 

(253,678)

(268,236)

Total assets less current liabilities

 

1,215,039

1,200,641

Creditors: Amounts falling due after more than one year

6

(1,076,933)

(1,076,927)

Provisions for liabilities

(42,236)

(32,099)

Net assets

 

95,870

91,615

Capital and reserves

 

Called up share capital

7

2

2

Retained earnings

95,868

91,613

Shareholders' funds

 

95,870

91,615

 

ARC Home Investments Ltd

(Registration number: 11354814)
Balance Sheet as at 31 January 2024

For the financial year ending 31 January 2024 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 accounts for the year in question in accordance with section 476; and

The directors acknowledge their 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.

Approved and authorised by the Board on 27 August 2024 and signed on its behalf by:
 

.........................................
AR Charles
Director

.........................................
Mrs RJ Charles
Director

 

ARC Home Investments Ltd

Notes to the Unaudited Financial Statements for the Year Ended 31 January 2024

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:
Suite A4, Skylon Court
Coldnose Road
Rotherwas
Hereford
HR2 6JS
England

These financial statements were authorised for issue by the Board on 27 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.

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 deferred 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.

Deferred tax is recognised in respect of all timing differences between taxable profits and profits reported in the financial statements.

Unrelieved tax losses and other deferred tax assets are recognised when 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 and that are expected to apply to the reversal of the timing difference.

 

ARC Home Investments Ltd

Notes to the Unaudited Financial Statements for the Year Ended 31 January 2024

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

Office Equipment

20% Straight Line

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.

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 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.

3

Staff numbers

The average number of persons employed by the company (including directors) during the year, was 2 (2023 - 2).

 

ARC Home Investments Ltd

Notes to the Unaudited Financial Statements for the Year Ended 31 January 2024

4

Tangible assets

Office equipment
£

Total
£

Cost or valuation

At 1 February 2023

800

800

At 31 January 2024

800

800

Depreciation

At 1 February 2023

453

453

Charge for the year

160

160

At 31 January 2024

613

613

Carrying amount

At 31 January 2024

187

187

At 31 January 2023

347

347

5

Investment properties

2024
£

At 1 February

1,468,530

At 31 January

1,468,530

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

 

ARC Home Investments Ltd

Notes to the Unaudited Financial Statements for the Year Ended 31 January 2024

6

Creditors

Creditors: amounts falling due within one year

2024
£

2023
£

Due within one year

Accruals and deferred income

12,155

11,680

Other creditors

249,060

267,289

261,215

278,969

Creditors: amounts falling due after more than one year

Note

2024
£

2023
£

Due after one year

 

Loans and borrowings

8

1,076,933

1,076,927

7

Share capital

Allotted, called up and fully paid shares

2024

2023

No.

£

No.

£

Ordinary class A of £1 each

1

1

1

1

Ordinary class B of £1 each

1

1

1

1

2

2

2

2

8

Loans and borrowings

Non-current loans and borrowings

2024
£

2023
£

Other borrowings

1,076,933

1,076,927

 

ARC Home Investments Ltd

Notes to the Unaudited Financial Statements for the Year Ended 31 January 2024

9

Related party transactions

Transactions with directors

2024

At 1 February 2023
£

Advances to director
£

Repayments by director
£

At 31 January 2024
£

AR Charles

Directors' loan account

(266,989)

51,234

(27,309)

(243,063)

2023

At 1 February 2022
£

Repayments by director
£

At 31 January 2023
£

AR Charles

Directors' loan account

(32,172)

(234,816)

(266,989)

Directors' remuneration

The directors' remuneration for the year was as follows:

2024
£

2023
£

Remuneration

12,475

11,600