Registered number
05303511
A.R.K. (Exeter) Limited
Report and Unaudited Accounts
31 March 2024
A.R.K. (Exeter) Limited
Registered number: 05303511
Balance Sheet
as at 31 March 2024
Notes 2024 2023
£ £
Fixed assets
Investments 3 1,450,000 1,450,000
Current assets
Debtors 4 225,520 216,170
Cash at bank and in hand 94,481 36,988
320,001 253,158
Creditors: amounts falling due within one year 5 (46,757) (40,764)
Net current assets 273,244 212,394
Total assets less current liabilities 1,723,244 1,662,394
Provisions for liabilities (111,970) (85,165)
Net assets 1,611,274 1,577,229
Capital and reserves
Called up share capital 1 1
Fair value reserve 6 336,267 363,072
Profit and loss account 1,275,006 1,214,156
Shareholder's funds 1,611,274 1,577,229
The director is satisfied that the company is entitled to exemption from the requirement to obtain an audit under section 477 of the Companies Act 2006.
The member has not required the company to obtain an audit in accordance with section 476 of the Act.
The director acknowledges his responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts.
The accounts have been prepared and delivered in accordance with the special provisions applicable to companies subject to the small companies regime. The profit and loss account has not been delivered to the Registrar of Companies.
A R King
Director
Approved by the board on 8 September 2024
A.R.K. (Exeter) Limited
Notes to the Accounts
for the year ended 31 March 2024
1 Accounting policies
Basis of preparation
The accounts have been prepared under the historical cost convention and in accordance with FRS 102, The Financial Reporting Standard applicable in the UK and Republic of Ireland (as applied to small entities by section 1A of the standard). The financial statements are presented in sterling which is the functional currency of the company and are rounded to the nearest £.
Turnover
Turnover represents the value of rental income and property management charges receivable during the year.
Investments properties
Investment properties for which fair value can be measured reliably without undue cost or effort are measured at fair value at each reporting date with changes in fair value recognised in profit or loss.
Debtors and creditors receivable/payable within one year
Debtors and creditors with no stated interest rate and receivable and payable within one year are recorded at transaction price. Any losses from impairment are recognised in the profit and loss account in other administrative expenses.
Taxation
A current tax liability is recognised for the tax payable on the taxable profit of the current and past periods. A current tax asset is recognised in respect of a tax loss that can be carried back to recover tax paid in a previous period. Deferred tax is recognised in respect of all timing differences between the recognition of income and expenses in the financial statements and their inclusion in tax assessments. 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. 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, except for revalued land and investment property where the tax rate that applies to the sale of the asset is used. Current and deferred tax assets and liabilities are not discounted.
Provisions
Provisions (ie liabilities of uncertain timing or amount) are recognised when there is an obligation at the reporting date as a result of a past event, it is probable that economic benefit will be transferred to settle the obligation and the amount of the obligation can be estimated reliably.
2 Employees 2024 2023
Number Number
Average number of persons employed by the company 1 1
3 Investments
Other
investments
£
Cost/Fair Value
At 1 April 2023 1,450,000
At 31 March 2024 1,450,000
Investment property is included at 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.

The methods and significant assumptions used to ascertain the fair value of £1,450,000 are as detailed above.

The company's investment properties were valued by the company's director, Mr A R King, on the basis of their fair value for existing use.
4 Debtors 2024 2023
£ £
Other debtors 225,520 216,170
5 Creditors: amounts falling due within one year 2024 2023
£ £
Other taxes and social security costs 20,848 16,259
Other creditors 25,909 24,505
46,757 40,764
6 Fair value reserve 2024 2023
£ £
At 1 April 2023 363,072 261,822
Transfer of unrealised fair value adjustment to profit and loss account (26,805) 101,250
At 31 March 2024 336,267 363,072
7 Other information
A.R.K. (Exeter) Limited is a private company limited by shares and incorporated in England. Its registered office is:
27 Couper Meadows
Exeter
Devon
EX2 7TF
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