Company registration number 04526240 (England and Wales)
ARROW PROPERTY MANAGEMENT LIMITED
UNAUDITED FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024
PAGES FOR FILING WITH REGISTRAR
ARROW PROPERTY MANAGEMENT LIMITED
CONTENTS
Page
Balance sheet
1 - 2
Notes to the financial statements
3 - 5
ARROW PROPERTY MANAGEMENT LIMITED
BALANCE SHEET
AS AT
31 MARCH 2024
31 March 2024
- 1 -
2024
2023
Notes
£
£
£
£
Fixed assets
Tangible assets
3
2,736
3,219
Investment property
4
752,241
752,241
754,977
755,460
Current assets
Debtors
5
2,567
1,357
Cash at bank and in hand
9,568
11,977
12,135
13,334
Creditors: amounts falling due within one year
6
(30,473)
(31,418)
Net current liabilities
(18,338)
(18,084)
Total assets less current liabilities
736,639
737,376
Creditors: amounts falling due after more than one year
7
(577,766)
(577,720)
Net assets
158,873
159,656
Capital and reserves
Called up share capital
4
4
Revaluation reserve
8
81,006
81,006
Profit and loss reserves
77,863
78,646
Total equity
158,873
159,656

The directors of the company have elected not to include a copy of the profit and loss account within the financial statements.true

For the financial year ended 31 March 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.

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.

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

ARROW PROPERTY MANAGEMENT LIMITED
BALANCE SHEET (CONTINUED)
AS AT
31 MARCH 2024
31 March 2024
- 2 -
The financial statements were approved by the board of directors and authorised for issue on 2 November 2024 and are signed on its behalf by:
Mr M N G Archenhold
Mrs S J Archenhold
Director
Director
Mr G Owens
Mrs J Owens
Director
Director
Company registration number 04526240 (England and Wales)
ARROW PROPERTY MANAGEMENT LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024
- 3 -
1
Accounting policies
Company information

Arrow Property Management Limited is a private company limited by shares incorporated in England and Wales. The registered office is 9 Tregarne Terrace, St Austell, Cornwall, PL25 4DD.

1.1
Reporting period

The entity’s reporting period presented has been shortened to 6 months. This was to bring the company year end in line with the self assessment tax year end. Comparative amounts presented in the financial statements (including the related notes) are therefore not entirely comparable being for a period of one year.

1.2
Accounting convention

These financial statements have been prepared in accordance with FRS 102 “The Financial Reporting Standard applicable in the UK and Republic of Ireland” (“FRS 102”) and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime. The disclosure requirements of section 1A of FRS 102 have been applied other than where additional disclosure is required to show a true and fair view.

The financial statements are prepared in sterling, which is the functional currency of the company. Monetary amounts in these financial statements are rounded to the nearest £.

The financial statements have been prepared under the historical cost convention, [modified to include the revaluation of freehold properties and to include investment properties and certain financial instruments at fair value]. The principal accounting policies adopted are set out below.

1.3
Turnover

Turnover is in respect of rental income which is recognised on a receivable basis and deferred where the income is received in advance.

1.4
Tangible fixed assets

Tangible fixed assets are initially measured at cost and subsequently measured at cost or valuation, net of depreciation and any impairment losses.

Depreciation is recognised so as to write off the cost or valuation of assets less their residual values over their useful lives on the following bases:

Plant and equipment
25% reducing balance method
Computers
15% reducing balance method

The gain or loss arising on the disposal of an asset is determined as the difference between the sale proceeds and the carrying value of the asset, and is credited or charged to profit or loss.

1.5
Investment properties

Investment property, which is property held to earn rentals and/or for capital appreciation, is initially recognised at cost, which includes the purchase cost and any directly attributable expenditure. Subsequently it is measured at fair value at the reporting end date. The surplus or deficit on revaluation is recognised in the profit and loss account. Investment properties are stated at fair value based on the revaluation performed by an independent professional valuer.

1.6
Impairment of fixed assets

At each reporting period end date, the company reviews the carrying amounts of its tangible assets to determine whether there is any indication that those assets have suffered an impairment loss. If any such indication exists, the recoverable amount of the asset is estimated in order to determine the extent of the impairment loss (if any). Where it is not possible to estimate the recoverable amount of an individual asset, the company estimates the recoverable amount of the cash-generating unit to which the asset belongs.

ARROW PROPERTY MANAGEMENT LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2024
1
Accounting policies
(Continued)
- 4 -
1.7
Cash and cash equivalents

Cash and cash equivalents are basic financial assets and include cash in hand, deposits held at call with banks, other short-term liquid investments with original maturities of three months or less, and bank overdrafts. Bank overdrafts are shown within borrowings in current liabilities.

1.8
Debtors and creditors receivable/payable within one year

Debtors and creditors with no stated interest rate and receivable or payable within one year are recorded at transaction price. Any losses arising from impairment are recognised in the profit and loss account in other administrative expenses.

1.9
Taxation
Current tax

The tax currently payable is based on taxable profit for the year. Taxable profit differs from net profit as reported in the profit and loss account because it excludes items of income or expense that are taxable or deductible in other years and it further excludes items that are never taxable or deductible. The company’s liability for current tax is calculated using tax rates that have been enacted or substantively enacted by the reporting end date.

1.10
Retirement benefits

Payments to defined contribution retirement benefit schemes are charged as an expense as they fall due.

2
Employees
2024
2023
Number
Number
Total
-
0
-
0
3
Tangible fixed assets
Plant and equipment
Computers
Total
£
£
£
Cost
At 1 April 2023 and 31 March 2024
60
5,647
5,707
Depreciation and impairment
At 1 April 2023
60
2,428
2,488
Depreciation charged in the year
-
0
483
483
At 31 March 2024
60
2,911
2,971
Carrying amount
At 31 March 2024
-
0
2,736
2,736
At 31 March 2023
-
0
3,219
3,219
ARROW PROPERTY MANAGEMENT LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2024
- 5 -
4
Investment property
2024
£
Fair value
At 1 April 2023 and 31 March 2024
752,241

The directors considered that the valuation of all investment properties at 31 March 2024 and 31 March 2023 is reasonable.

If stated under historical cost principles the comparable amount for investment properties would be 2024: £679,439 (2023: £679,439).

5
Debtors
2024
2023
Amounts falling due within one year:
£
£
Trade debtors
-
0
101
Other debtors
2,567
1,256
2,567
1,357
6
Creditors: amounts falling due within one year
2024
2023
£
£
Corporation tax
930
2,014
Other creditors
29,543
29,404
30,473
31,418
7
Creditors: amounts falling due after more than one year
2024
2023
£
£
Bank loans and overdrafts
577,766
577,720
8
Revaluation reserve
2024
2023
£
£
At the beginning and end of the year
81,006
81,006
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