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REGISTERED NUMBER: 03771980 (England and Wales)
















Unaudited Financial Statements for the Year Ended 31 March 2024

for

Arnolds Development Company Limited

Arnolds Development Company Limited (Registered number: 03771980)






Contents of the Financial Statements
for the Year Ended 31 March 2024




Page

Company Information 1

Abridged Balance Sheet 2

Notes to the Financial Statements 4


Arnolds Development Company Limited

Company Information
for the Year Ended 31 March 2024







DIRECTORS: Mr J R T Arnold
Mr R W S Arnold
Mrs V Arnold





SECRETARY: Mr J R T Arnold





REGISTERED OFFICE: Hardcastle Burton Llp
Lake House
Market Hill
Royston
Hertfordshire
SG8 9JN





REGISTERED NUMBER: 03771980 (England and Wales)





ACCOUNTANTS: Hardcastle Burton LLP
Lake House
Market Hill
Royston
Hertfordshire
SG8 9JN

Arnolds Development Company Limited (Registered number: 03771980)

Abridged Balance Sheet
31 March 2024

31.3.24 31.3.23
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 3,607,285 3,607,518

CURRENT ASSETS
Debtors 1,390,513 1,392,581
Cash at bank 116,321 78,156
1,506,834 1,470,737
CREDITORS
Amounts falling due within one year 190,237 173,931
NET CURRENT ASSETS 1,316,597 1,296,806
TOTAL ASSETS LESS CURRENT
LIABILITIES

4,923,882

4,904,324

CREDITORS
Amounts falling due after more than one
year

(2,090,281

)

(2,090,281

)

PROVISIONS FOR LIABILITIES 5 (304,646 ) (231,576 )
NET ASSETS 2,528,955 2,582,467

CAPITAL AND RESERVES
Called up share capital 6 5 5
Undistributable reserves 1,706,742 1,778,852
Retained earnings 822,208 803,610
SHAREHOLDERS' FUNDS 2,528,955 2,582,467

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 March 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 March 2024 in accordance with Section 476 of the Companies Act 2006.

The directors acknowledge their 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.

Arnolds Development Company Limited (Registered number: 03771980)

Abridged Balance Sheet - continued
31 March 2024


The financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

All the members have consented to the preparation of an abridged Balance Sheet for the year ended 31 March 2024 in accordance with Section 444(2A) of the Companies Act 2006.

In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 19 September 2024 and were signed on its behalf by:




Mr J R T Arnold - Director



Mr R W S Arnold - Director


Arnolds Development Company Limited (Registered number: 03771980)

Notes to the Financial Statements
for the Year Ended 31 March 2024

1. STATUTORY INFORMATION

Arnolds Development Company Limited is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.

2. ACCOUNTING POLICIES

Basis of preparing the financial statements
These financial statements have been prepared in accordance with Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" including the provisions of Section 1A "Small Entities" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.

The financial statements have been prepared on a going concern basis. The Directors consider this basis to be appropriate despite the fact that the balance sheet shows net current liabilities at 31 March 2019 the company is generating sufficient cash flows on a weekly basis together with the support of its bank to meet its current liabilities.

Should the company be unable to continue trading, adjustments would have to be made to adjust the value of assets to their recoverable amount, to provide for any further liabilities which might arise.

Turnover
Turnover represents net invoiced rental and maintenance services and is recognised once services have been provided. It is measured at the fair value of the consideration received, or receivable, excluding any discounts, rebates and value added taxes.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.

Freehold property - not depreciated
Motor vehicles- 25% on reducing balance
Computer equipment- 25% on reducing balance

Freehold property was, up until 31 March 2012, being depreciated at an annual rate of 2% on cost. The Directors have reviewed this accounting policy in light of the fact that the Freehold property is not depreciating in value. The revised policy adopted is that this asset class will not be depreciated.

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.

Arnolds Development Company Limited (Registered number: 03771980)

Notes to the Financial Statements - continued
for the Year Ended 31 March 2024

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 3 (2023 - 3 ) .

4. TANGIBLE FIXED ASSETS
Totals
£   
COST
At 1 April 2023
and 31 March 2024 3,805,636
DEPRECIATION
At 1 April 2023 198,118
Charge for year 233
At 31 March 2024 198,351
NET BOOK VALUE
At 31 March 2024 3,607,285
At 31 March 2023 3,607,518

The revaluation of the investment properties was undertaken by the Directors at £3,600,000 on 31 March 2019. The valuation was carried out on the basis of market value in accordance with the RICS Appraisal and Valuation standards. The directors have concluded that there has been no material change in market value from date of valuation to the accounts reporting date.

5. PROVISIONS FOR LIABILITIES
31.3.24 31.3.23
£    £   
Deferred tax 304,646 231,576

Deferred
tax
£   
Balance at 1 April 2023 231,576
Provided during year 960
Revaluations movement in year 72,110
Balance at 31 March 2024 304,646

6. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 31.3.24 31.3.23
value: £    £   
5 Ordinary £1.00 5 5