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COMPANY REGISTRATION NUMBER: 11415235
Arrowed Investments Limited
Unaudited Financial Statements
30 June 2024
Arrowed Investments Limited
Financial Statements
Year ended 30 June 2024
Contents
Page
Director's report
1
Statement of income and retained earnings
2
Statement of financial position
3
Notes to the financial statements
5
The following pages do not form part of the financial statements
Chartered accountants and business advisers report to the director on the preparation of the unaudited statutory financial statements
9
Arrowed Investments Limited
Director's Report
Year ended 30 June 2024
The director presents his report and the unaudited financial statements of the company for the year ended 30 June 2024 .
Director
The director who served the company during the year was as follows:
Mr T Farnhill
Small company provisions
This report has been prepared in accordance with the provisions applicable to companies entitled to the small companies exemption.
This report was approved by the board of directors on 23 September 2024 and signed on behalf of the board by:
Mr T Farnhill
Director
Registered office:
45 Victoria Road
Brynteg
Wrexham
LL11 6NG
Arrowed Investments Limited
Statement of Income and Retained Earnings
Year ended 30 June 2024
2024
2023
Note
£
£
Turnover
2,999
6,000
-------
-------
Gross profit
2,999
6,000
Administrative expenses
( 24,725)
26,279
--------
--------
Operating profit/(loss)
27,724
( 20,279)
(Loss)/gain on financial assets at fair value through profit or loss
( 5,581)
3,674
Income from other fixed asset investments
195
Interest payable and similar expenses
3,487
4,682
--------
--------
Profit/(loss) before taxation
4
18,851
( 21,287)
Tax on profit/(loss)
4,442
( 2,377)
--------
--------
Profit/(loss) for the financial year and total comprehensive income
14,409
( 18,910)
--------
--------
Retained (losses)/earnings at the start of the year
( 8,385)
10,525
-------
--------
Retained earnings/(losses) at the end of the year
6,024
( 8,385)
-------
--------
All the activities of the company are from continuing operations.
Arrowed Investments Limited
Statement of Financial Position
30 June 2024
2024
2023
Note
£
£
Fixed assets
Investments
5
122,000
100,000
Current assets
Debtors
6
1,485
1,485
Investments
7
17,432
Cash at bank and in hand
174
25,348
-------
--------
1,659
44,265
Creditors: amounts falling due within one year
8
48,045
87,974
--------
--------
Net current liabilities
46,386
43,709
---------
---------
Total assets less current liabilities
75,614
56,291
Creditors: amounts falling due after more than one year
9
64,424
63,951
Provisions
5,066
625
--------
--------
Net assets/(liabilities)
6,124
( 8,285)
--------
--------
Capital and reserves
Called up share capital
100
100
Profit and loss account
6,024
( 8,385)
-------
-------
Shareholder funds/(deficit)
6,124
( 8,285)
-------
-------
These financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with Section 1A of FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.
For the year ending 30 June 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
Director's responsibilities:
- The member has not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476 ;
- The director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements .
Arrowed Investments Limited
Statement of Financial Position (continued)
30 June 2024
These financial statements were approved by the board of directors and authorised for issue on 23 September 2024 , and are signed on behalf of the board by:
Mr T Farnhill
Director
Company registration number: 11415235
Arrowed Investments Limited
Notes to the Financial Statements
Year ended 30 June 2024
1. General information
The company is a private company limited by shares, registered in England and Wales. The address of the registered office is 45 Victoria Road, Brynteg, Wrexham, LL11 6NG.
2. Statement of compliance
These financial statements have been prepared in compliance with Section 1A of FRS 102, 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland'.
3. Accounting policies
Basis of preparation
The financial statements have been prepared on the historical cost basis, as modified by the revaluation of certain financial assets and liabilities and investment properties measured at fair value through profit or loss.
The financial statements are prepared in sterling, which is the functional currency of the entity.
Going concern
The accounts have been prepared on a going concern basis. The director considers this basis to be appropriate because of the continuing financial support provided by the director and the steps he has taken to improve the trading position.
Revenue recognition
Turnover is measured at the fair value of the consideration received or receivable for goods supplied and services rendered, net of discounts and Value Added Tax. Revenue from the sale of goods is recognised when the significant risks and rewards of ownership have transferred to the buyer (usually on despatch of the goods); the amount of revenue can be measured reliably; it is probable that the associated economic benefits will flow to the entity; and the costs incurred or to be incurred in respect of the transactions can be measured reliably.
Taxation
The taxation expense represents the aggregate amount of current and deferred tax recognised in the reporting period. Tax is recognised in profit or loss, except to the extent that it relates to items recognised in other comprehensive income or directly in equity. In this case, tax is recognised in other comprehensive income or directly in equity, respectively. Current tax is recognised on taxable profit for the current and past periods. Current tax is measured at the amounts of tax expected to pay or recover using the tax rates and laws that have been enacted or substantively enacted at the reporting date.
Deferred tax is recognised in respect of all timing differences at the reporting date. Unrelieved tax losses and other deferred tax assets are recognised to the extent that 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 that are expected to apply to the reversal of the timing difference.
Fixed asset investment properties
Investment property is initially recorded at cost, which includes purchase price and any directly attributable expenditure. Investment property is revalued to its fair value at each reporting date and any changes in fair value are recognised in profit or loss.
Provisions
Provisions are recognised when the entity has an obligation at the reporting date as a result of a past event, it is probable that the entity will be required to transfer economic benefits in settlement and the amount of the obligation can be estimated reliably. Provisions are recognised as a liability in the statement of financial position and the amount of the provision as an expense. Provisions are initially measured at the best estimate of the amount required to settle the obligation at the reporting date and subsequently reviewed at each reporting date and adjusted to reflect the current best estimate of the amount that would be required to settle the obligation. Any adjustments to the amounts previously recognised are recognised in profit or loss unless the provision was originally recognised as part of the cost of an asset. When a provision is measured at the present value of the amount expected to be required to settle the obligation, the unwinding of the discount is recognised as a finance cost in profit or loss in the period it arises.
Financial instruments
The following assets and liabilities within the accounts are classified as financial instruments - trade debtors, trade creditors and directors loans. Directors loans (being repayable upon demand), trade debtors and trade creditors, are measured at the undiscounted amount of cash or other consideration expected to be paid or received. Financial assets that are measured at amortised cost are assessed at the end of each reporting period for objective evidence of impairment. If such evidence is found, an impairment loss is recognised in the statement of Income and Retained Earnings.
4. Profit before taxation
Profit before taxation is stated after charging/crediting:
2024
2023
£
£
Fair value adjustments to investment property
( 22,000)
10,000
--------
--------
5. Investments
Other investments other than loans
£
Cost
At 1 July 2023
100,000
Revaluations
22,000
---------
At 30 June 2024
122,000
---------
Impairment
At 1 July 2023 and 30 June 2024
---------
Carrying amount
At 30 June 2024
122,000
---------
At 30 June 2023
100,000
---------
6. Debtors
2024
2023
£
£
Other debtors
1,485
1,485
-------
-------
7. Investments
2024
2023
£
£
Other investments - Ramsey Crookall - Cash account
439
Other investments - Ramsey Crookall - Trusts & OEICS
16,993
----
--------
17,432
----
--------
8. Creditors: amounts falling due within one year
2024
2023
£
£
Other creditors
48,045
87,974
--------
--------
9. Creditors: amounts falling due after more than one year
2024
2023
£
£
Bank loans and overdrafts
64,424
63,951
--------
--------
10. Director's advances, credits and guarantees
During the period the director operated a loan account with the company, the closing balance of which was £46,931 (2023 - £86,931) in credit. The loan is interest free and repayable on demand.
11. Related party transactions
No transactions with related parties were undertaken such as are required to be disclosed under Financial Reporting Standard 102 section 33.
Arrowed Investments Limited
Management Information
Year ended 30 June 2024
The following pages do not form part of the financial statements.
Arrowed Investments Limited
Chartered Accountants and Business Advisers Report to the Director on the Preparation of the Unaudited Statutory Financial Statements of Arrowed Investments Limited
Year ended 30 June 2024
In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the financial statements of Arrowed Investments Limited for the year ended 30 June 2024, which comprise the statement of income and retained earnings, statement of financial position and the related notes from the company's accounting records and from information and explanations you have given us. As a practising member firm of the Institute of Chartered Accountants in England and Wales (ICAEW), we are subject to its ethical and other professional requirements which are detailed at www.icaew.com/en/membership/regulations-standards-and-guidance. This report is made solely to the director of Arrowed Investments Limited in accordance with the terms of our engagement letter dated 8 August 2018. Our work has been undertaken solely to prepare for your approval the financial statements of Arrowed Investments Limited and state those matters that we have agreed to state to you in this report in accordance with ICAEW Technical Release 07/16 AAF as detailed at www.icaew.com/compilation. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than Arrowed Investments Limited and its director for our work or for this report.
It is your duty to ensure that Arrowed Investments Limited has kept adequate accounting records and to prepare statutory financial statements that give a true and fair view of the assets, liabilities, financial position and profit of Arrowed Investments Limited. You consider that Arrowed Investments Limited is exempt from the statutory audit requirement for the year. We have not been instructed to carry out an audit or a review of the financial statements of Arrowed Investments Limited. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory financial statements.
BRUCE ROBERTS & CO LIMITED Chartered Accountants and Business Advisers
Unit 10, Edison Court Ellice Way Wrexham Technology Park Wrexham LL13 7YT
23 September 2024