Silverfin false false 31/12/2023 01/01/2023 31/12/2023 A R Betteridge 01/12/2023 21/07/2008 M J Betteridge 20/08/2024 D A Newlyn 20/08/2024 10/08/2023 23 September 2024 The principal activity of the company during the financial year was letting and operating of own or leased real estate. 06651066 2023-12-31 06651066 bus:Director1 2023-12-31 06651066 bus:Director2 2023-12-31 06651066 bus:Director3 2023-12-31 06651066 2022-12-31 06651066 core:CurrentFinancialInstruments 2023-12-31 06651066 core:CurrentFinancialInstruments 2022-12-31 06651066 core:Non-currentFinancialInstruments 2023-12-31 06651066 core:Non-currentFinancialInstruments 2022-12-31 06651066 core:ShareCapital 2023-12-31 06651066 core:ShareCapital 2022-12-31 06651066 core:RetainedEarningsAccumulatedLosses 2023-12-31 06651066 core:RetainedEarningsAccumulatedLosses 2022-12-31 06651066 core:InvestmentPropertyIncludedWithinPPE 2022-12-31 06651066 core:OfficeEquipment 2022-12-31 06651066 core:InvestmentPropertyIncludedWithinPPE 2023-12-31 06651066 core:OfficeEquipment 2023-12-31 06651066 bus:OrdinaryShareClass1 2023-12-31 06651066 2023-01-01 2023-12-31 06651066 bus:FilletedAccounts 2023-01-01 2023-12-31 06651066 bus:SmallEntities 2023-01-01 2023-12-31 06651066 bus:AuditExemptWithAccountantsReport 2023-01-01 2023-12-31 06651066 bus:PrivateLimitedCompanyLtd 2023-01-01 2023-12-31 06651066 bus:Director1 2023-01-01 2023-12-31 06651066 bus:Director2 2023-01-01 2023-12-31 06651066 bus:Director3 2023-01-01 2023-12-31 06651066 core:OfficeEquipment 2023-01-01 2023-12-31 06651066 2022-01-01 2022-12-31 06651066 core:InvestmentPropertyIncludedWithinPPE 2023-01-01 2023-12-31 06651066 core:Non-currentFinancialInstruments 2023-01-01 2023-12-31 06651066 bus:OrdinaryShareClass1 2023-01-01 2023-12-31 06651066 bus:OrdinaryShareClass1 2022-01-01 2022-12-31 iso4217:GBP xbrli:pure xbrli:shares

Company No: 06651066 (England and Wales)

A.R.B. PROPERTY PROJECTS LIMITED

Unaudited Financial Statements
For the financial year ended 31 December 2023
Pages for filing with the registrar

A.R.B. PROPERTY PROJECTS LIMITED

Unaudited Financial Statements

For the financial year ended 31 December 2023

Contents

A.R.B. PROPERTY PROJECTS LIMITED

BALANCE SHEET

As at 31 December 2023
A.R.B. PROPERTY PROJECTS LIMITED

BALANCE SHEET (continued)

As at 31 December 2023
Note 2023 2022
£ £
Fixed assets
Tangible assets 4 5,463,823 5,462,181
5,463,823 5,462,181
Current assets
Debtors 5 4,722 3,174
Cash at bank and in hand 25,879 115,516
30,601 118,690
Creditors: amounts falling due within one year 6 ( 10,991) ( 13,570)
Net current assets 19,610 105,120
Total assets less current liabilities 5,483,433 5,567,301
Creditors: amounts falling due after more than one year 7 ( 4,676,603) ( 4,450,128)
Net assets 806,830 1,117,173
Capital and reserves
Called-up share capital 8 100,000 100,000
Profit and loss account 706,830 1,017,173
Total shareholder's funds 806,830 1,117,173

For the financial 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.

Director's responsibilities:

The financial statements of A.R.B. Property Projects Limited (registered number: 06651066) were approved and authorised for issue by the Director on 23 September 2024. They were signed on its behalf by:

M J Betteridge
Director
A.R.B. PROPERTY PROJECTS LIMITED

NOTES TO THE FINANCIAL STATEMENTS

For the financial year ended 31 December 2023
A.R.B. PROPERTY PROJECTS LIMITED

NOTES TO THE FINANCIAL STATEMENTS

For the financial year ended 31 December 2023
1. Accounting policies

The principal accounting policies are summarised below. They have all been applied consistently throughout the financial year and to the preceding financial year, unless otherwise stated.

General information and basis of accounting

A.R.B. Property Projects Limited (the Company) is a private company, limited by shares, incorporated in the United Kingdom under the Companies Act 2006 and is registered in England and Wales. The address of the Company's registered office is Nexus House, 2 Cray Road, Sidcup, DA14 5DA, United Kingdom.

The financial statements have been prepared under the historical cost convention, modified to include the revaluation of freehold properties and to include investment properties and certain items at fair value, and in accordance with Section 1A of Financial Reporting Standard 102 (FRS 102) ‘The Financial Reporting Standard applicable in the UK and Republic of Ireland’ issued by the Financial Reporting Council and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime.

The financial statements are presented in pounds sterling which is the functional currency of the Company and rounded to the nearest £.

Going concern

The director has assessed the Balance Sheet and likely future cash flows at the date of approving these financial statements. The director has a reasonable expectation that the Company has adequate resources to continue in operational existence and to meet its financial obligations as they fall due for at least 12 months from the date of signing these financial statements. Accordingly, they continue to adopt the going concern basis in preparing the financial statements.

After reviewing the company's forecasts and projections, the director has a reasonable expectation that the company has adequate resources to continue in operational existence for the foreseeable future. The company therefore continues to adopt the going concern basis in preparing its financial statements.

Turnover

Turnover comprises the fair value of the consideration received or receivable for the rent, sale of goods and provision of services in the ordinary course of the company's activities.

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.

Taxation

Current 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 corporation tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the reporting date.

Deferred tax
Deferred tax arises as a result of including items of income and expenditure in taxation computations in periods different from those in which they are included in the Company's financial statements. Deferred tax is provided in full on timing differences which result in an obligation to pay more or less tax at a future date, at the average tax rates that are expected to apply when the timing differences reverse, based on current tax rates and laws. Deferred tax assets and liabilities are not discounted.

The carrying amount of deferred tax assets are reviewed at each reporting date and a valuation allowance is set up against deferred tax assets so that the net carrying amount equals the highest amount that is more likely than not to be recovered based on current or future taxable profit.

Tangible fixed assets

Tangible fixed assets are stated at cost or valuation, net of depreciation and any provision for impairment. Depreciation is provided on all tangible fixed assets, other than investment property and freehold land, at rates calculated to write off the cost or valuation, less estimated residual value, of each asset on a straight-line or reducing balance basis over its expected useful life, as follows:

Investment property not depreciated
Office equipment 25 % reducing balance

Residual value represents the estimated amount which would currently be obtained from disposal of an asset, after deducting estimated costs of disposal, if the asset were already of the age and in the condition expected at the end of its useful life.

The gain or loss arising on the disposal of an asset is determined as the difference between the sale proceeds and the carrying value of the asset, and is credited or charged to profit or loss.

Investment property

Investment property is carried at fair value, derived from the current market prices for comparable real estate determined annually by the director. The director uses 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 and loss. Deferred taxation, only where material, is provided on these gains at the rate expected to apply when the property is sold.

Trade and other debtors

Trade and other debtors are recognised initially at the transaction price. They are subsequently measured at amortised cost using the effective interest method, less provision for impairment. A provision for the impairment of trade debtors is established when there is objective evidence that the company will not be able to collect all amounts due according to the original terms of the receivables.

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.

Trade and other creditors

Trade and other creditors are recognised initially at the transaction price and subsequently measured at amortised cost using the effective interest method.

Financial instruments

Classification
Financial instruments are classified and accounted for, according to the substance of the contractual arrangement, as either financial assets, financial liabilities or equity instruments. An equity instrument is any contract that evidences a residual interest in the assets of the company after deducting all of its liabilities.

Financial assets are classified as financial assets at fair value through profit or loss, loans and debtors, held-to-maturity investments. available-for-sale financial assets, or as derivatives designated as hedging instruments in an effective hedge, as appropriate. The company determines the classification of its financial assets at initial recognition.

Financial liabilities are classified as financial liabilities at fair value through profit and loss, loans and borrowings, trade and other creditors, or as derivatives designated as hedging instruments in an effective hedge, as appropriate. The company determines the classification of its financial liabilities at initial recognition.

Recognition and measurement
All financial instruments are recognised initially at fair value plus transaction costs. Thereafter financial instruments are stated at amortised cost using the effective interest rate method (less impairment where appropriate) unless the effect of discounting would be immaterial in which case they are stated at cost (less impairment where appropriate). The exception to this are those financial instruments where it is a requirement to continue recording them at fair value through profit and loss.

Impairment
Financial assets are assessed for indicators of impairment at the end of each reporting period. Financial assets are considered to be impaired when there is objective evidence that, as a result of one or more events that occurred after the initial recognition of the financial asset, the estimated future cash flows of the asset have been affected.

Ordinary 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.

2. Critical accounting judgements and key sources of estimation uncertainty

In the application of the Company’s accounting policies, the director is required to make judgements that have a significant impact on the amounts recognised. The following are the critical judgements that the director has made in the process of applying the Company’s accounting policies and that have the most significant effect on the amounts recognised in the financial statements.

Specifically, areas requiring judgement are the residual value of tangible fixed assets, recoverability of debtors and using the going concern basis.

The estimates and underlying assumptions are reviewed on an ongoing basis. Revisions to accounting estimates are recognised in the period in which the estimate is revised if the revision affects only that period, or in the period of the revision and future periods if the revision affects both current and future periods.

3. Employees

2023 2022
Number Number
Monthly average number of persons employed by the Company during the year, including the director 1 1

4. Tangible assets

Investment property Office equipment Total
£ £ £
Cost
At 01 January 2023 5,461,000 1,350 5,462,350
Additions 0 1,979 1,979
At 31 December 2023 5,461,000 3,329 5,464,329
Accumulated depreciation
At 01 January 2023 0 169 169
Charge for the financial year 0 337 337
At 31 December 2023 0 506 506
Net book value
At 31 December 2023 5,461,000 2,823 5,463,823
At 31 December 2022 5,461,000 1,181 5,462,181

The director is of the view that the fair value of the investment properties has not materially changed since the last reporting date. Those earlier valuations were performed by the directors on the basis of estimated market value, which is deemed to be not materially different to fair value. The carrying value that would have been recognised if a historic cost model had been adopted is £4,772,500 (2022: £4,772,500).

5. Debtors

2023 2022
£ £
Other debtors 4,722 3,174

6. Creditors: amounts falling due within one year

2023 2022
£ £
Corporation tax 2,866 6,435
Other creditors 8,125 7,135
10,991 13,570

7. Creditors: amounts falling due after more than one year

2023 2022
£ £
Amounts owed to Group undertakings 4,676,603 4,450,128

A.R Betteridge Limited has a fixed and floating charge over all of A.R.B Property Projects land and buildings and undertakings of the company.

8. Called-up share capital

2023 2022
£ £
Allotted, called-up and fully-paid
100,000 Ordinary shares of £ 1.00 each 100,000 100,000

Reserves
The profit and loss account includes £688,500 (2022: £688,500) of non distributable profits in relation to unrealised revaluation gains.

9. Related party transactions

Transactions with owners holding a participating interest in the entity

The company has taken advantage of the exemption provided in FRS 102 1A from disclosing transactions with members of the same group.