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Company Registration No. 04299068 (England and Wales)
Arundel House Development Limited Unaudited accounts for the year ended 31 December 2023
Arundel House Development Limited Unaudited accounts Contents
Page
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Arundel House Development Limited Company Information for the year ended 31 December 2023
Director
Mr B G Morris
Company Number
04299068 (England and Wales)
Registered Office
1-5 Vyner Street Tower Hamlets London E2 9DG
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Arundel House Development Limited Statement of financial position as at 31 December 2023
2023 
2022 
Notes
£ 
£ 
Fixed assets
Tangible assets
701 
1,000 
Investment property
14,000,000 
11,518,219 
14,000,701 
11,519,219 
Current assets
Debtors
5,313,189 
708,332 
Cash at bank and in hand
17,620 
139,749 
5,330,809 
848,081 
Creditors: amounts falling due within one year
(3,335,794)
(3,845,581)
Net current assets/(liabilities)
1,995,015 
(2,997,500)
Total assets less current liabilities
15,995,716 
8,521,719 
Creditors: amounts falling due after more than one year
(5,228,428)
(234,428)
Provisions for liabilities
Deferred tax
(1,651,937)
(1,661,161)
Net assets
9,115,351 
6,626,130 
Capital and reserves
Called up share capital
670 
670 
Share premium
434,668 
434,668 
Profit and loss account
8,680,013 
6,190,792 
Shareholders' funds
9,115,351 
6,626,130 
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 director acknowledges his 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 and authorised for issue on 26 September 2024 and were signed on its behalf by
Mr B G Morris Director Company Registration No. 04299068
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Arundel House Development Limited Notes to the Accounts for the year ended 31 December 2023
1
Statutory information
Arundel House Development Limited is a private company, limited by shares, registered in England and Wales, registration number 04299068. The registered office is 1-5 Vyner Street, Tower Hamlets, London, E2 9DG.
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 as modified by the revaluation of certain fixed assets.
Presentation currency
The accounts are presented in £ sterling.
Turnover
Revenue is recognised to the extent that it is probably that the economic benefits will flow to the Company and the revenue can be reliably measured. Revenue is measured as the fair value of the rent received or receivable, excluding discounts, rebates, 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:
Plant & machinery
20% straight line
Fixtures & fittings
20% straight line
Investment property
Investment property is included at market fair value. Gains are recognised in the income statement. Deferred taxation is provided on these gains at the rate expected to apply when the property is sold.
Investments
Investments in subsidiaries are measured as cost less accumulated impairment.
Pension costs
The company operates a defined contribution scheme for the benefit of its employees. Contributions payable are recognised in the profit and loss account when due.
Deferred taxation
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 accounts. 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.
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Arundel House Development Limited Notes to the Accounts for the year ended 31 December 2023
4
Tangible fixed assets
Plant & machinery 
Fixtures & fittings 
Computer equipment 
Total 
£ 
£ 
£ 
£ 
Cost or valuation
At cost 
At cost 
At cost 
At 1 January 2023
116,107 
31,382 
649 
148,138 
At 31 December 2023
116,107 
31,382 
649 
148,138 
Depreciation
At 1 January 2023
116,107 
30,771 
260 
147,138 
Charge for the year
- 
169 
130 
299 
At 31 December 2023
116,107 
30,940 
390 
147,437 
Net book value
At 31 December 2023
- 
442 
259 
701 
At 31 December 2022
- 
611 
389 
1,000 
5
Investment property
2023 
£ 
Fair value at 1 January 2023
11,518,219 
Additions
3,100 
Net gain from fair value adjustments
2,478,681 
At 31 December 2023
14,000,000 
The investment property was valued by the director as at 31 December 2023. The director is of the opinion that this was the fair value as at the balance sheet date.
6
Debtors
2023 
2022 
£ 
£ 
Amounts falling due within one year
Trade debtors
263,503 
224,521 
Accrued income and prepayments
11,230 
10,081 
Other debtors
5,038,456 
473,730 
5,313,189 
708,332 
7
Creditors: amounts falling due within one year
2023 
2022 
£ 
£ 
VAT
86,855 
51,628 
Trade creditors
37,911 
42,378 
Taxes and social security
672 
3,925 
Other creditors
331,132 
181,127 
Loans from directors
2,724,863 
3,413,310 
Accruals
23,642 
23,642 
Deferred income
130,719 
129,571 
3,335,794 
3,845,581 
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Arundel House Development Limited 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
5,000,000 
- 
Other creditors
228,428 
234,428 
5,228,428 
234,428 
The bank loans falling due over one year are secured over the assets of the company.
9
Average number of employees
During the year the average number of employees was 4 (2022: 4).
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