REGISTERED NUMBER: |
Abridged Unaudited Financial Statements for the Year Ended 31 December 2023 |
for |
ARCH PROPERTY INVESTMENT LTD |
REGISTERED NUMBER: |
Abridged Unaudited Financial Statements for the Year Ended 31 December 2023 |
for |
ARCH PROPERTY INVESTMENT LTD |
ARCH PROPERTY INVESTMENT LTD (REGISTERED NUMBER: 13077851) |
Contents of the Financial Statements |
for the Year Ended 31 December 2023 |
Page |
Company Information | 1 |
Abridged Balance Sheet | 2 |
Notes to the Financial Statements | 4 |
ARCH PROPERTY INVESTMENT LTD |
Company Information |
for the Year Ended 31 December 2023 |
DIRECTOR: |
REGISTERED OFFICE: |
REGISTERED NUMBER: |
ACCOUNTANTS: |
Chartered Certified Accountants |
27 Daventry Street |
London |
NW1 6TD |
ARCH PROPERTY INVESTMENT LTD (REGISTERED NUMBER: 13077851) |
Abridged Balance Sheet |
31 December 2023 |
31.12.23 | 31.12.22 |
Notes | £ | £ | £ | £ |
FIXED ASSETS |
Investments | 4 |
Investment property | 5 |
CURRENT ASSETS |
Debtors |
CREDITORS |
Amounts falling due within one year |
NET CURRENT LIABILITIES | ( |
) | ( |
) |
TOTAL ASSETS LESS CURRENT LIABILITIES |
CAPITAL AND RESERVES |
Called up share capital |
Retained earnings |
SHAREHOLDERS' FUNDS |
The director acknowledges her 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. |
ARCH PROPERTY INVESTMENT LTD (REGISTERED NUMBER: 13077851) |
Abridged Balance Sheet - continued |
31 December 2023 |
The financial statements were approved by the director and authorised for issue on |
ARCH PROPERTY INVESTMENT LTD (REGISTERED NUMBER: 13077851) |
Notes to the Financial Statements |
for the Year Ended 31 December 2023 |
1. | STATUTORY INFORMATION |
Arch Property Investment Ltd is a |
The presentation currency of the financial statements is the Pound Sterling (£). |
2. | ACCOUNTING POLICIES |
Basis of preparing the financial statements |
Turnover |
The turnover is attributable to the company's main activity, and is made up of rental income. |
Investment property |
Investment properties are properties held to earn rentals and/or for capital appreciation. Investment properties are initially measured at cost, including transaction costs. Subsequently investment properties whose fair value can be measured reliably without undue cost or effort on an on-going basis are measured at fair value. Gains and losses arising from changes in the fair value of investment properties are included in profit or loss in the period in which they arise. |
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. |
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. |
Fixed asset investments |
Fixed asset investments in Limited Liability Partnerships are measured at cost less permanent impairment. |
Permanent impairments are taken to the Company's profit and loss account. |
Going concern |
The director has assessed that there are no significant doubts in the Company's ability to continue as a going concern. |
As a result, the financial statements have been prepared on a going concern basis. |
ARCH PROPERTY INVESTMENT LTD (REGISTERED NUMBER: 13077851) |
Notes to the Financial Statements - continued |
for the Year Ended 31 December 2023 |
3. | EMPLOYEES AND DIRECTORS |
The average number of employees during the year was |
4. | FIXED ASSET INVESTMENTS |
Information on investments other than loans is as follows: |
Totals |
£ |
COST |
Additions | 60,315 |
At 31 December 2023 | 60,315 |
NET BOOK VALUE |
At 31 December 2023 | 60,315 |
Fixed asset investments are equity investments in a property Limited Liability Partnership measured at cost less permanent impairment. |
Permanent impairments are taken to the Company's profit and loss account. |
The historic cost of the equity investments was £60,315 (2022: £Nil). |
5. | INVESTMENT PROPERTY |
Total |
£ |
FAIR VALUE |
At 1 January 2023 |
Additions |
At 31 December 2023 |
NET BOOK VALUE |
At 31 December 2023 |
At 31 December 2022 |
The fair values of the properties at 31 December 2023 have been arrived at on the basis of valuations carried out at that date by Mrs S Mir Mohammad Sadeghi, the director of the company who is not a professionally qualified valuer. The valuations, which do not differ from the cost at the date of acquisition, were arrived at by reference to market evidence of transaction prices for similar properties in their location and take into account the economic forces of the rental market in the area where each property is situated. |