Registered number
03057555
Arian Finance Limited
Unaudited Filleted Accounts
30 June 2024
Arian Finance Limited
Registered number: 03057555
Balance Sheet
as at 30 June 2024
Notes 2024 2023
£ £
Fixed assets
Tangible assets 3 164,454 104,846
Investments 4 10,000 10,000
174,454 114,846
Current assets
Debtors 5 1,245,760 2,304,507
Cash at bank and in hand 867,096 327,427
2,112,856 2,631,934
Creditors: amounts falling due within one year 6 (20,490) (524,097)
Net current assets 2,092,366 2,107,837
Total assets less current liabilities 2,266,820 2,222,683
Creditors: amounts falling due after more than one year 7 - (22,297)
Provisions for liabilities (31,246) (19,921)
Net assets 2,235,574 2,180,465
Capital and reserves
Called up share capital 100,000 100,000
Profit and loss account 2,135,574 2,080,465
Shareholders' funds 2,235,574 2,180,465
The directors are satisfied that the company is entitled to exemption from the requirement to obtain an audit under section 477 of the Companies Act 2006.
The members have not required the company to obtain an audit in accordance with section 476 of the Act.
The directors acknowledge their 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.
J D Honeybun
Director
Approved by the board on 29 October 2024
Arian Finance Limited
Notes to the Accounts
for the year ended 30 June 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).
Turnover
Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover includes revenue earned from the sale of goods and from the rendering of services. Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods have transferred to the buyer. Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs.
Tangible fixed assets
Tangible fixed assets are measured at cost less accumulative depreciation and any accumulative impairment losses. Depreciation is provided on all tangible fixed assets, other than freehold land, at rates calculated to write off the cost, less estimated residual value, of each asset evenly over its expected useful life, as follows:
Motor vehicles 20% reducing balance
Computer equipment 33% straight line
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.
Leased assets
A lease is classified as a finance lease if it transfers substantially all the risks and rewards incidental to ownership. All other leases are classified as operating leases. The rights of use and obligations under finance leases are initially recognised as assets and liabilities at amounts equal to the fair value of the leased assets or, if lower, the present value of the minimum lease payments. Minimum lease payments are apportioned between the finance charge and the reduction in the outstanding liability using the effective interest rate method. The finance charge is allocated to each period during the lease so as to produce a constant periodic rate of interest on the remaining balance of the liability. Leased assets are depreciated in accordance with the company's policy for tangible fixed assets. If there is no reasonable certainty that ownership will be obtained at the end of the lease term, the asset is depreciated over the lower of the lease term and its useful life. Operating lease payments are recognised as an expense on a straight line basis over the lease term.
Pensions
Contributions to defined contribution plans are expensed in the period to which they relate.
2 Employees 2024 2023
Number Number
Average number of persons employed by the company 3 3
3 Tangible fixed assets
Plant and machinery etc Motor vehicles Total
£ £ £
Cost
At 1 July 2023 1,504 126,769 128,273
Additions - 201,066 201,066
Disposals - (144,887) (144,887)
At 30 June 2024 1,504 182,948 184,452
Depreciation
At 1 July 2023 1,504 21,923 23,427
Charge for the year - 15,201 15,201
On disposals - (18,630) (18,630)
At 30 June 2024 1,504 18,494 19,998
Net book value
At 30 June 2024 - 164,454 164,454
At 30 June 2023 - 104,846 104,846
4 Investments
Other
investments
£
Cost
At 1 July 2023 10,000
At 30 June 2024 10,000
5 Debtors 2024 2023
£ £
Trade debtors 1,231,468 2,274,631
Other debtors 14,292 29,876
1,245,760 2,304,507
Amounts due after more than one year included above 643,071 1,068,509
6 Creditors: amounts falling due within one year 2024 2023
£ £
Bank loans and overdrafts - 9,748
Block discounting contracts - 496,188
Taxation and social security costs 10,339 2,495
Other creditors 10,151 15,666
20,490 524,097
7 Creditors: amounts falling due after one year 2024 2023
£ £
Bank loans - 22,297
8 Secured loans 2024 2023
£ £
Creditors include:
Block discounting contracts - 496,188
The block discounting contracts are secured through fixed and floating charges over the assets of the company.
9 Other information
Arian Finance Limited is a private company limited by shares and incorporated in England & Wales. Its registered office is:
Unit 12 Felindre Court
Pencoed
Bridgend
CF35 5FQ
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