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REGISTERED NUMBER: 05304073 (England and Wales)















UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 DECEMBER 2023

FOR

ARCHESTER LTD

ARCHESTER LTD (REGISTERED NUMBER: 05304073)






CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023




Page

Company Information 1

Statement of Financial Position 2

Notes to the Financial Statements 4


ARCHESTER LTD

COMPANY INFORMATION
FOR THE YEAR ENDED 31 DECEMBER 2023







DIRECTOR: Y Lock





SECRETARY: Y Lock





REGISTERED OFFICE: 115 Craven Park Road
South Tottenham
London
N15 6BL





REGISTERED NUMBER: 05304073 (England and Wales)





ACCOUNTANTS: Venitt and Greaves
Chartered Accountants
115 Craven Park Road
South Tottenham
London
N15 6BL

ARCHESTER LTD (REGISTERED NUMBER: 05304073)

STATEMENT OF FINANCIAL POSITION
31 DECEMBER 2023

31.12.23 31.12.22
Notes £    £   
FIXED ASSETS
Tangible assets 4 1,542 1,814
Investment property 5 21,361,969 20,940,446
21,363,511 20,942,260

CURRENT ASSETS
Debtors 6 2,406,517 2,158,278
Cash at bank and in hand 34,458 91,050
2,440,975 2,249,328
CREDITORS
Amounts falling due within one year 7 (1,088,055 ) (1,255,700 )
NET CURRENT ASSETS 1,352,920 993,628
TOTAL ASSETS LESS CURRENT
LIABILITIES

22,716,431

21,935,888

CREDITORS
Amounts falling due after more than one
year

8

(4,816,894

)

(4,529,475

)

PROVISIONS FOR LIABILITIES (2,452,386 ) (2,452,386 )
NET ASSETS 15,447,151 14,954,027

CAPITAL AND RESERVES
Called up share capital 11 100 100
Revaluation reserve 12 12,907,296 12,907,296
Retained earnings 12 2,539,755 2,046,631
SHAREHOLDERS' FUNDS 15,447,151 14,954,027

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 December 2023.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 December 2023 in accordance with Section 476 of the Companies Act 2006.

The director acknowledges his 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.

ARCHESTER LTD (REGISTERED NUMBER: 05304073)

STATEMENT OF FINANCIAL POSITION - continued
31 DECEMBER 2023


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

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

The financial statements were approved by the director and authorised for issue on 1 October 2024 and were signed by:





Y Lock - Director


ARCHESTER LTD (REGISTERED NUMBER: 05304073)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023

1. STATUTORY INFORMATION

Archester Ltd 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.

The presentation currency of the financial statements is the Pound Sterling (£).


2. ACCOUNTING POLICIES

Basis of preparing the financial statements
These financial statements have been prepared in accordance with the provisions of Section 1A "Small Entities" of Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention except for the assets and liabilities which are required by FRS 102 to be stated at fair value.

Turnover
Turnover represents net rent receivable, excluding value added tax.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Fixtures and fittings - 15% on reducing balance

Investment property
Investment property is shown at most recent valuation. Any aggregate surplus or deficit arising from changes in fair value is recognised in profit or loss.

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 statement of financial position date.

Deferred tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the statement of financial position 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.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was NIL (2022 - NIL).

ARCHESTER LTD (REGISTERED NUMBER: 05304073)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 DECEMBER 2023

4. TANGIBLE FIXED ASSETS
Fixtures
and
fittings
£   
COST
At 1 January 2023
and 31 December 2023 19,880
DEPRECIATION
At 1 January 2023 18,066
Charge for year 272
At 31 December 2023 18,338
NET BOOK VALUE
At 31 December 2023 1,542
At 31 December 2022 1,814

5. INVESTMENT PROPERTY
Total
£   
FAIR VALUE
At 1 January 2023 20,940,446
Additions 421,523
At 31 December 2023 21,361,969
NET BOOK VALUE
At 31 December 2023 21,361,969
At 31 December 2022 20,940,446

Fair value at 31 December 2023 is represented by:
£   
Valuation in 2016 12,907,296
Cost 8,454,673
21,361,969

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.12.23 31.12.22
£    £   
Trade debtors 123,368 70,113
Other debtors 2,283,149 2,088,165
2,406,517 2,158,278

ARCHESTER LTD (REGISTERED NUMBER: 05304073)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 DECEMBER 2023

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.12.23 31.12.22
£    £   
Trade creditors 19,150 158,924
Taxation and social security 309,837 264,923
Other creditors 759,068 831,853
1,088,055 1,255,700

8. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
31.12.23 31.12.22
£    £   
Bank loans (see note 9) 4,791,112 4,493,823
Other creditors 25,782 35,652
4,816,894 4,529,475

Amounts falling due in more than five years:

Repayable by instalments
Other loans more 5yrs instal 25,782 35,652

9. LOANS

An analysis of the maturity of loans is given below:

31.12.23 31.12.22
£    £   
Amounts falling due between two and five years:
Bank loans - 2-5 years 4,791,112 4,493,823

Amounts falling due in more than five years:

Repayable by instalments
Other loans more 5yrs instal 25,782 35,652

Under the bank loan, £50,000 was received under Bounce back Loan Scheme (BBL). The loan is unsecured, interest free for the first year, then capped at 2.5% afterwards and backed by HM Government.

10. SECURED DEBTS

The following secured debts are included within creditors:

31.12.23 31.12.22
£    £   
Bank loans 4,791,112 4,493,823

The bank loans and overdrafts are secured by a first charge over the company's investment properties and bear interest at variable rates.

ARCHESTER LTD (REGISTERED NUMBER: 05304073)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 DECEMBER 2023

11. CALLED UP SHARE CAPITAL

Allotted and issued:
Number: Class: Nominal 31.12.23 31.12.22
value: £    £   
100 Share capital 1 £1 100 100

12. RESERVES
Retained Revaluation
earnings reserve Totals
£    £    £   

At 1 January 2023 2,046,631 12,907,296 14,953,927
Profit for the year 493,124 493,124
At 31 December 2023 2,539,755 12,907,296 15,447,051

13. ULTIMATE CONTROLLING PARTY

Mr A E Brinner.