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Company registration number: 00989743







FINANCIAL STATEMENTS
FOR THE YEAR ENDED
31 MARCH 2024


ARKLEY ESTATES LIMITED






































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ARKLEY ESTATES LIMITED
REGISTERED NUMBER:00989743



STATEMENT OF FINANCIAL POSITION
AS AT 31 MARCH 2024

2024
2023
Note
£
£

Fixed assets
  

Tangible assets
 4 
6,075,000
6,075,000

  
6,075,000
6,075,000

Current assets
  

Stocks
  
270,651
55,235

Debtors: amounts falling due within one year
 5 
1,467,826
1,146,439

Cash at bank and in hand
  
9,536
11,664

  
1,748,013
1,213,338

Creditors: amounts falling due within one year
 6 
(437,307)
(124,186)

Net current assets
  
 
 
1,310,706
 
 
1,089,152

Total assets less current liabilities
  
7,385,706
7,164,152

Provisions for liabilities
  

Deferred tax
 7 
(1,479,121)
(1,380,009)

  
 
 
(1,479,121)
 
 
(1,380,009)

Net assets
  
5,906,585
5,784,143


Capital and reserves
  

Allotted, called up and fully paid share capital
  
1,000
1,000

Revaluation reserve
  
4,536,475
4,536,475

Profit and loss account
  
1,369,110
1,246,668

  
5,906,585
5,784,143


Page 1

 


ARKLEY ESTATES LIMITED
REGISTERED NUMBER:00989743


    
STATEMENT OF FINANCIAL POSITION (CONTINUED)
AS AT 31 MARCH 2024

The financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies regime and in accordance with the provisions of FRS 102 Section 1A - small entities.

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

The Company has opted not to file the statement of comprehensive income in accordance with provisions applicable to companies subject to the small companies' regime.

The financial statements were approved and authorised for issue by the board and were signed on its behalf on 4 November 2024.




M.C. Annis
Director

The notes on pages 4 to 8 form part of these financial statements.

Page 2

 


ARKLEY ESTATES LIMITED
 



STATEMENT OF CHANGES IN EQUITY
FOR THE YEAR ENDED 31 MARCH 2024


Called up share capital
Revaluation reserve
Profit and loss account
Total equity

£
£
£
£


At 1 April 2022
1,000
3,692,725
908,818
4,602,543


Comprehensive income for the year

Profit for the year
-
-
337,850
337,850

Surplus on revaluation of freehold property
-
1,125,000
-
1,125,000

Deferred tax on revaluation
-
(281,250)
-
(281,250)


Other comprehensive income for the year
-
843,750
-
843,750


Total comprehensive income for the year
-
843,750
337,850
1,181,600


Total transactions with owners
-
-
-
-



At 1 April 2023
1,000
4,536,475
1,246,668
5,784,143


Comprehensive income for the year

Profit for the year
-
-
221,554
221,554

Deferred tax movements
-
-
(99,112)
(99,112)


Other comprehensive income for the year
-
-
(99,112)
(99,112)


Total comprehensive income for the year
-
-
122,442
122,442


Total transactions with owners
-
-
-
-


At 31 March 2024
1,000
4,536,475
1,369,110
5,906,585


The notes on pages 4 to 8 form part of these financial statements.

Page 3

 


ARKLEY ESTATES LIMITED
 


 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024

1.


General information

Arkley Estates Limited is a private company limited by shares incorporated in England and Wales within the United Kingdom. The address of the registered office is Ashcombe House, 5 The Crescent, Leatherhead, Surrey, KT22 8DY. The principal place of business is Arkley Residential Park, Barnet Road, Barnet, EN5 3JQ.
The Company's functional and presentational currency is GBP, rounded to the nearest £1.

2.Accounting policies

 
2.1

Basis of preparation of financial statements

The financial statements have been prepared under the historical cost convention unless otherwise specified within these accounting policies and in accordance with FRS 102 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland' and the requirements of the Companies Act 2006. 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 following principal accounting policies have been applied:

 
2.2

Revenue

Turnover is recognised by the Company to the extent that it obtains the right to consideration in exchange for its performance. Turnover is measured as the fair value of the consideration received or receivable, excluding discounts, rebates, Value Added Tax and other sales taxes. Monies received in advance are treated as deferred income and held as payments on account.
Pitch fees, Recharges and Commissions are recognised on an accruals basis in the period to which they relate.
Sales of mobile homes are recognised when the risks and rewards of ownership are transferred to the customer, usually on occupation when the park home agreement is signed or legal completion takes place.

 
2.3

Current and deferred taxation

The tax expense for the year comprises current and deferred tax. Tax is recognised in profit or loss except that a charge attributable to an item of income and expense recognised as other comprehensive income or to an item recognised directly in equity is also recognised in other comprehensive income or directly in equity respectively.

The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the reporting date in the countries where the Company operates and generates income.

Deferred tax balances are recognised in respect of all timing differences that have originated but not reversed by the reporting date, except that:
The recognition of deferred tax assets is limited to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits; and
Any deferred tax balances are reversed if and when all conditions for retaining associated tax allowances have been met.

Deferred tax balances are not recognised in respect of permanent differences except in respect of business combinations, when deferred tax is recognised on the differences between the fair values of assets acquired and the future tax deductions available for them and the differences between the fair values of liabilities acquired and the amount that will be assessed for tax. Deferred tax is determined using tax rates and laws that have been enacted or substantively enacted by the reporting date.

Page 4

 


ARKLEY ESTATES LIMITED
 


 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024

2.Accounting policies (continued)

 
2.4

Tangible fixed assets

Tangible fixed assets under the cost model are stated at historical cost less accumulated depreciation and any accumulated impairment losses. Historical cost includes expenditure that is directly attributable to bringing the asset to the location and condition necessary for it to be capable of operating in the manner intended by management.

Depreciation is charged so as to allocate the cost of assets less their residual value over their estimated useful lives, on a reducing balance basis.

Depreciation is provided on the following basis:

Freehold property
-
Not depreciated
Fixtures and fittings
-
20% reducing balance

No depreciation has been provided on freehold property as the property is held at valuation.

 
2.5

Revaluation of tangible fixed assets

Individual freehold and leasehold properties are carried at current year value at fair value at the date of the revaluation less any subsequent accumulated depreciation and subsequent accumulated impairment losses. Revaluations are undertaken with sufficient regularity to ensure the carrying amount does not differ materially from that which would be determined using fair value at the reporting date.
Fair values are determined from market based evidence normally undertaken by professionally qualified valuers.

Revaluation gains and losses are recognised in other comprehensive income unless losses exceed the previously recognised gains or reflect a clear consumption of economic benefits, in which case the excess losses are recognised in profit or loss.

 
2.6

Stocks

Stocks are stated at the lower of cost and net realisable value, being the estimated selling price less costs to complete and sell. 

At each reporting date, stocks are assessed for impairment. If stock is impaired, the carrying amount is reduced to its selling price less costs to complete and sell. The impairment loss is recognised immediately in profit or loss.

 
2.7

Financial instruments

The Company only enters into basic financial instrument transactions that result in the recognition of financial assets and liabilities like trade and other debtors and creditors, loans from banks and other third parties, loans to related parties and investments in ordinary shares.
Financial assets that are measured at cost and amortised cost are assessed at the end of each reporting period for objective evidence of impairment. If objective evidence of impairment is found, an impairment loss is recognised in the Statement of Comprehensive Income.

Page 5

 


ARKLEY ESTATES LIMITED
 


 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024

3.


Employees

The Company has no employees other than the directors, who did not receive any remuneration (2023 - £NIL).







4.


Tangible fixed assets





Freehold property
Fixtures and fittings
Total

£
£
£



Cost or valuation


At 1 April 2023
6,075,000
2,102
6,077,102



At 31 March 2024

6,075,000
2,102
6,077,102



Depreciation


At 1 April 2023
-
2,102
2,102



At 31 March 2024

-
2,102
2,102



Net book value



At 31 March 2024
6,075,000
-
6,075,000



At 31 March 2023
6,075,000
-
6,075,000


The property was professionally revalued in January 2023 by commercial real estate agents, Avison Young, at market value. The directors chose to adopt this valuation at 31 March 2024.

If the land and buildings had not been included at valuation they would have been included under the historical cost convention as follows:

2024
2023
£
£



Cost
158,517
158,517

Net book value
158,517
158,517

Page 6

 


ARKLEY ESTATES LIMITED
 


 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024

5.


Debtors

2024
2023
£
£


Trade debtors
23,916
7,925

Amounts owed by group undertakings
1,210,370
1,138,251

Other debtors
233,540
-

Prepayments and accrued income
-
263

1,467,826
1,146,439



6.


Creditors: Amounts falling due within one year

2024
2023
£
£

Trade creditors
244,686
1,777

Amounts owed to group undertakings
132,883
81,221

Corporation tax
37,500
28,500

Other taxation and social security
6,774
4,054

Other creditors
5,000
-

Accruals and deferred income
10,464
8,634

437,307
124,186



7.


Deferred taxation




2024


£






At beginning of year
(1,380,009)


Charged to other comprehensive income
(99,112)



At end of year
(1,479,121)

The provision for deferred taxation is made up as follows:

2024
2023
£
£


At beginning of the year
(1,380,009)
(1,098,759)

Charge to revaluation reserve
(99,112)
(281,250)

(1,479,121)
(1,380,009)

Page 7

 


ARKLEY ESTATES LIMITED
 


 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024

8.


Contingent liabilities

The Company has given a guarantee in respect of the bank borrowings of its parent company. The guarantee is secured by a fixed charge over the Company's freehold property and a debenture over all other assets of the Company.


9.


Related party transactions

The Company has taken advantage of the exemption available within FRS 102 Section 33.1A, from disclosing
transactions entered into with entities which are a wholly owned part of the group.


10.


Controlling party

The parent company is Monte Carlo Parks Ltd by virtue of its 100% shareholding. The address of the parent company's registered office is Ashcombe House, 5 The Crescent, Leatherhead, Surrey, KT22 8DY.
The ultimate controlling party is M.C. Annis by virtue of his 100% shareholding in Monte Carlo Parks Ltd.


11.


Auditors' information

The auditors' report on the financial statements for the year ended 31 March 2024 was unqualified.

The audit report was signed on 4 November 2024 by Andrew Hookway FCA (Senior statutory auditor) on behalf of Menzies LLP.

 
Page 8