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Registration number: 08123895

Arrowedge Properties Ltd

Unaudited Filleted Financial Statements

for the Year Ended 30 April 2024

 

Arrowedge Properties Ltd

Contents

Balance Sheet

1 to 2

Notes to the Unaudited Financial Statements

3 to 6

 

Arrowedge Properties Ltd

(Registration number: 08123895)
Balance Sheet as at 30 April 2024

Note

2024
£

2023
£

Fixed assets

 

Investment property

4

436,551

436,551

Current assets

 

Debtors

5

252,844

250,664

Cash at bank and in hand

 

7,576

16,659

 

260,420

267,323

Creditors: Amounts falling due within one year

6

(391,024)

(414,094)

Net current liabilities

 

(130,604)

(146,771)

Total assets less current liabilities

 

305,947

289,780

Provisions for liabilities

(24,236)

(24,236)

Net assets

 

281,711

265,544

Capital and reserves

 

Called up share capital

100

100

Other reserves

103,321

103,321

Retained earnings

178,290

162,123

Shareholders' funds

 

281,711

265,544

 

Arrowedge Properties Ltd

(Registration number: 08123895)
Balance Sheet as at 30 April 2024

For the financial year ending 30 April 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.

These financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime. As permitted by section 444 (5A) of the Companies Act 2006, the directors have not delivered to the registrar a copy of the Profit and Loss Account.

Approved and authorised by the Board on 7 October 2024 and signed on its behalf by:
 

.........................................
Mr U M Patel
Director

 

Arrowedge Properties Ltd

Notes to the Unaudited Financial Statements for the Year Ended 30 April 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:
62 Poole Road
Westbourne
Bournemouth
Dorset
BH4 9DZ

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 is made up of rents receivable.

Tax

The tax expense for the period comprises current tax payable and deferred tax.

The current tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the reporting date in the countries where the company operates and generates taxable 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.

Investment property

Investment property is carried at fair value, derived from the current market prices for comparable real estates. 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.

 

Arrowedge Properties Ltd

Notes to the Unaudited Financial Statements for the Year Ended 30 April 2024

Debtors

Trade debtors are amounts due from customers for merchandise sold or services performed in the ordinary course of business.

Trade creditors

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers.

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).

 

Arrowedge Properties Ltd

Notes to the Unaudited Financial Statements for the Year Ended 30 April 2024

4

Investment properties

2024
£

At 1 May 2022

436,551

At 30 April 2023

436,551

The directors have revalued investment properties at open market value as at 30 April 2023. The historic cost of investment properties is £308,994.

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

5

Debtors

Current

2024
£

2023
£

Trade debtors

2,844

664

Other debtors

250,000

250,000

 

252,844

250,664

6

Creditors

Creditors: amounts falling due within one year

2024
£

2023
£

Due within one year

Loans and borrowings

324,946

370,000

Taxation and social security

3,776

10,063

Other creditors

62,302

34,031

391,024

414,094

 

Arrowedge Properties Ltd

Notes to the Unaudited Financial Statements for the Year Ended 30 April 2024

7

Loans and borrowings

2024
£

2023
£

Current loans and borrowings

Other borrowings

324,946

370,000

8

Related party transactions

Summary of transactions with other related parties

U M Patel is also a director of Arrowedge Limited. Arrowedge Properties Limited has received a loan from Arrowedge Limited. At the balance sheet date the amount owed to Arrowedge Limited was £324,946 (2023: £370,000).