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Company registration number: 02342269
Ardent Facilities Ltd
Unaudited filleted financial statements
31 March 2024
Ardent Facilities Ltd
Contents
Accountants report
Statement of financial position
Statement of changes in equity
Notes to the financial statements
Ardent Facilities Ltd
Accountants report to the director on the preparation of the
unaudited statutory financial statements of Ardent Facilities Ltd
Year ended 31 March 2024
As described on the statement of financial position, the director of the company is responsible for the preparation of the financial statements for the year ended 31 March 2024 which comprise the statement of financial position, statement of changes in equity and related notes.
You consider that the company is exempt from an audit under the Companies Act 2006. In accordance with your instructions we have compiled these unaudited financial statements in order to assist you to fulfil your statutory responsibilities, from the accounting records and from information and explanations supplied to us.
Purcell & Co
Certified Public Accountants
204 Mauldeth Road
Burnage
Manchester
M19 1AJ
17 September 2024
Ardent Facilities Ltd
Statement of financial position
31 March 2024
2024 2023
Note £ £ £ £
Fixed assets
Tangible assets 5 - 1,222
_______ _______
- 1,222
Current assets
Debtors 6 346 346
Cash at bank and in hand 1,158 2,195
_______ _______
1,504 2,541
Creditors: amounts falling due
within one year 7 ( 1,179) ( 1,052)
_______ _______
Net current assets 325 1,489
_______ _______
Total assets less current liabilities 325 2,711
Provisions for liabilities - ( 232)
_______ _______
Net assets 325 2,479
_______ _______
Capital and reserves
Called up share capital 100 100
Profit and loss account 225 2,379
_______ _______
Shareholders funds 325 2,479
_______ _______
For the year ending 31 March 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 members have 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 their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements.
These financial statements have been prepared and delivered 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'.
In accordance with section 444 of the Companies Act 2006, the statement of comprehensive income has not been delivered.
These financial statements were approved by the board of directors and authorised for issue on 17 September 2024 , and are signed on behalf of the board by:
Mr Brian Thomson
Director
Company registration number: 02342269
Ardent Facilities Ltd
Statement of changes in equity
Year ended 31 March 2024
Called up share capital Profit and loss account Total
£ £ £
At 1 April 2022 100 7,736 7,836
Loss for the year ( 1,357) ( 1,357)
_______ _______ _______
Total comprehensive income for the year - ( 1,357) ( 1,357)
Dividends paid and payable ( 4,000) ( 4,000)
_______ _______ _______
Total investments by and distributions to owners - ( 4,000) ( 4,000)
_______ _______ _______
At 31 March 2023 and 1 April 2023 100 2,379 2,479
Loss for the year ( 2,154) ( 2,154)
_______ _______ _______
Total comprehensive income for the year - ( 2,154) ( 2,154)
_______ _______ _______
At 31 March 2024 100 225 325
_______ _______ _______
Ardent Facilities Ltd
Notes to the financial statements
Year ended 31 March 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 12 Rex Buildings, Alderley Road, Wilmslow, Cheshire, SK9 1HY.
2. Statement of compliance
These financial statements have been prepared in compliance with the provisions of FRS 102, Section 1A, 'The Financial Reporting Standard applicable in the UK and 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.
Taxation
The taxation expense represents the aggregate amount of current and deferred tax recognised in the reporting period. Tax is recognised in the statement of comprehensive income, except to the extent that it relates to items recognised in other comprehensive income or directly in capital and reserves. In this case, tax is recognised in other comprehensive income or directly in capital and reserves, 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.
Tangible assets
tangible assets are initially recorded at cost, and are subsequently stated at cost less any accumulated depreciation and impairment losses. Any tangible assets carried at revalued amounts are recorded at the fair value at the date of revaluation less any subsequent accumulated depreciation and subsequent accumulated impairment losses. An increase in the carrying amount of an asset as a result of a revaluation, is recognised in other comprehensive income and accumulated in capital and reserves, except to the extent it reverses a revaluation decrease of the same asset previously recognised in profit or loss. A decrease in the carrying amount of an asset as a result of revaluation is recognised in other comprehensive income to the extent of any previously recognised revaluation increase accumulated in capital and reserves in respect of that asset. Where a revaluation decrease exceeds the accumulated revaluation gains accumulated in capital and reserves in respect of that asset, the excess shall be recognised in profit or loss.
Depreciation
Depreciation is calculated so as to write off the cost or valuation of an asset, less its residual value, over the useful economic life of that asset as follows:
Plant and machinery - 25 % reducing balance
Fittings fixtures and equipment - 25 % reducing balance
If there is an indication that there has been a significant change in depreciation rate, useful life or residual value of tangible assets, the depreciation is revised prospectively to reflect the new estimates.
Impairment
A review for indicators of impairment is carried out at each reporting date, with the recoverable amount being estimated where such indicators exist. Where the carrying value exceeds the recoverable amount, the asset is impaired accordingly. Prior impairments are also reviewed for possible reversal at each reporting date. When it is not possible to estimate the recoverable amount of an individual asset, an estimate is made of the recoverable amount of the cash-generating unit to which the asset belongs. The cash-generating unit is the smallest identifiable group of assets that includes the asset and generates cash inflows that are largely independent of the cash inflows from other assets or groups of assets.
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 in finance costs in profit or loss in the period it arises.
Financial instruments
A financial asset or a financial liability is recognised only when the company becomes a party to the contractual provisions of the instrument.
Basic financial instruments are initially recognised at the transaction price, unless the arrangement constitutes a financing transaction, where it is recognised at the present value of the future payments discounted at a market rate of interest for a similar debt instrument.
Debt instruments are subsequently measured at amortised cost.
Financial assets that are measured at cost or amortised cost are reviewed for objective evidence of impairment at the end of each reporting date. If there is objective evidence of impairment, an impairment loss is recognised in profit or loss immediately. Any reversals of impairment are recognised in profit or loss immediately, to the extent that the reversal does not result in a carrying amount of the financial asset that exceeds what the carrying amount would have been had the impairment not previously been recognised.
4. Tax on loss
Major components of tax income
2024 2023
£ £
Current tax:
Adjustments in respect of previous periods - ( 346)
_______ _______
Deferred tax:
Origination and reversal of timing differences ( 232) ( 57)
_______ _______
Tax on loss ( 232) ( 403)
_______ _______
Reconciliation of tax income
The tax assessed on the loss for the year is lower than (2023: lower than) the standard rate of corporation tax in the UK of - % (2023: -%).
2024 2023
£ £
Loss before taxation ( 2,386) ( 1,760)
_______ _______
Adjustments in respect of prior periods - ( 346)
_______ _______
5. Tangible assets
Plant and machinery Fixtures, fittings and equipment Total
£ £ £
Cost
At 1 April 2023 872 6,090 6,962
Disposals - ( 6,090) ( 6,090)
_______ _______ _______
At 31 March 2024 872 - 872
_______ _______ _______
Depreciation
At 1 April 2023 872 4,868 5,740
Disposals - ( 4,868) ( 4,868)
_______ _______ _______
At 31 March 2024 872 - 872
_______ _______ _______
Carrying amount
At 31 March 2024 - - -
_______ _______ _______
At 31 March 2023 - 1,222 1,222
_______ _______ _______
6. Debtors
2024 2023
£ £
Other debtors 346 346
_______ _______
7. Creditors: amounts falling due within one year
2024 2023
£ £
Other creditors 1,179 1,052
_______ _______
8. Deferred tax
The deferred tax included in the statement of financial position is as follows:
2024 2023
£ £
Included in provisions (note ) - 232
_______ _______
The deferred tax account consists of the tax effect of timing differences in respect of:
2024 2023
£ £
Accelerated capital allowances ( 232) ( 57)
_______ _______
9. Directors advances, credits and guarantees
During the year the director entered into the following advances and credits with the company:
2024
Balance brought forward Amounts repaid Balance o/standing
£ £ £
Mr Brian Thomson ( 238) - ( 238)
_______ _______ _______
2023
Balance brought forward Amounts repaid Balance o/standing
£ £ £
Mr Brian Thomson ( 1,520) 1,282 ( 238)
_______ _______ _______
10. Controlling party
The company is controlled by the director Mr Brian Thomson as he is the majority shareholder in the company.