REGISTERED NUMBER: |
ARISE YORKSHIRE LIMITED |
(A COMPANY LIMITED BY GUARANTEE) |
UNAUDITED FINANCIAL STATEMENTS |
FOR THE YEAR ENDED 31ST MARCH 2024 |
REGISTERED NUMBER: |
ARISE YORKSHIRE LIMITED |
(A COMPANY LIMITED BY GUARANTEE) |
UNAUDITED FINANCIAL STATEMENTS |
FOR THE YEAR ENDED 31ST MARCH 2024 |
ARISE YORKSHIRE LIMITED |
(A COMPANY LIMITED BY GUARANTEE) (REGISTERED NUMBER: 08408211) |
CONTENTS OF THE FINANCIAL STATEMENTS |
FOR THE YEAR ENDED 31ST MARCH 2024 |
Page |
Balance Sheet | 1 |
Notes to the Financial Statements | 2 | to | 4 |
ARISE YORKSHIRE LIMITED |
(A COMPANY LIMITED BY GUARANTEE) (REGISTERED NUMBER: 08408211) |
BALANCE SHEET |
31ST MARCH 2024 |
2024 | 2023 |
Notes | £ | £ | £ | £ |
FIXED ASSETS |
Investment property | 4 |
CURRENT ASSETS |
Debtors | 5 |
Cash at bank |
CREDITORS |
Amounts falling due within one year | 6 |
NET CURRENT ASSETS |
TOTAL ASSETS LESS CURRENT LIABILITIES |
PROVISIONS FOR LIABILITIES | 7 |
NET ASSETS |
RESERVES |
Income and expenditure account | 8 |
MEMBERS' FUNDS |
The directors acknowledge their 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 surplus or deficit 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. |
In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered. |
The financial statements were approved by the Board of Directors and authorised for issue on |
ARISE YORKSHIRE LIMITED |
(A COMPANY LIMITED BY GUARANTEE) (REGISTERED NUMBER: 08408211) |
NOTES TO THE FINANCIAL STATEMENTS |
FOR THE YEAR ENDED 31ST MARCH 2024 |
1. | STATUTORY INFORMATION |
Arise Yorkshire Limited (A company Limited by guarantee) is a |
Registered number: |
Registered office: |
2. | ACCOUNTING POLICIES |
Basis of preparing the financial statements |
The financial statements are presented in sterling which is the functional currency of the company and rounded to the nearest £. |
The significant accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all years presented unless otherwise stated. |
Income and expenditure |
Income and expenses are included in the financial statements as they become receivable or due. |
Expenses include VAT where applicable as the company cannot reclaim it. |
Investment property |
Investment property is shown at most recent valuation. Any aggregate surplus or deficit arising from changes in fair value is recognised in surplus or deficit. |
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 balance sheet date. |
Deferred tax |
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet 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. |
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. |
ARISE YORKSHIRE LIMITED |
(A COMPANY LIMITED BY GUARANTEE) (REGISTERED NUMBER: 08408211) |
NOTES TO THE FINANCIAL STATEMENTS - continued |
FOR THE YEAR ENDED 31ST MARCH 2024 |
3. | EMPLOYEES AND DIRECTORS |
The average number of employees during the year was |
4. | INVESTMENT PROPERTY |
Total |
£ |
FAIR VALUE |
At 1st April 2023 |
Disposals | ( |
) |
At 31st March 2024 |
NET BOOK VALUE |
At 31st March 2024 |
At 31st March 2023 |
Investment property comprises of 16 properties valued at £1,111,654 (2023: 17 properties valued at £1,180,209). The valuation was assessed as at the year end on an open market value basis by the directors by reference to market evidence of transaction prices for similar properties. |
5. | DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
2024 | 2023 |
£ | £ |
Trade debtors |
Other debtors |
6. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
2024 | 2023 |
£ | £ |
Trade creditors |
Taxation and social security |
Other creditors |
7. | PROVISIONS FOR LIABILITIES |
2024 | 2023 |
£ | £ |
Deferred tax | 277,914 | 295,053 |
Deferred |
tax |
£ |
Balance at 1st April 2023 |
Provided during year | ( |
) |
Balance at 31st March 2024 |
Deferred tax arises on the full carrying value of investments properties which were acquired with the assistance of capital grants and accordingly have a tax base cost of zero. |
ARISE YORKSHIRE LIMITED |
(A COMPANY LIMITED BY GUARANTEE) (REGISTERED NUMBER: 08408211) |
NOTES TO THE FINANCIAL STATEMENTS - continued |
FOR THE YEAR ENDED 31ST MARCH 2024 |
8. | RESERVES |
Income |
and |
expenditure |
account |
£ |
At 1st April 2023 |
Surplus for the year |
Distribution of accumulated |
surpluses | ( |
) |
At 31st March 2024 |
9. | MEMBERS' LIABILITY |
The company is limited by guarantee, not having a share capital and consequently the liability of members is limited, subject to an undertaking by each member to contribute to the net assets or liabilities of the company on winding up such amounts as may be required not exceeding £1. |
10. | RELATED PARTY DISCLOSURES |
Arise Yorkshire Limited is a joint venture company in which Action for Business (Bradford) Limited, Bradford |
Trident, Inspired Neighbourhoods and Royds Community Association are all partners. During the year, the |
partners charged Arise Yorkshire Limited £39,729 (2023: £10,989) in relation to financial and administrative |
duties undertaken on its behalf. |
During the year, surplus reserves of £51,552 (2023: £237,017) were distributed to the partners of Arise Yorkshire Limited. The reserves were distributed in four equal shares. |