Company registration number SC524620 (Scotland)
ARINVE LIMITED
UNAUDITED FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024
PAGES FOR FILING WITH REGISTRAR
ARINVE LIMITED
CONTENTS
Page
Balance sheet
1 - 2
Notes to the financial statements
3 - 6
ARINVE LIMITED
BALANCE SHEET
AS AT 31 MARCH 2024
31 March 2024
- 1 -
2024
2023
Notes
£
£
£
£
Fixed assets
Investments
4
626,436
1,818,949
Current assets
Debtors
5
7,132
4,572
Cash at bank and in hand
5,020
454
12,152
5,026
Creditors: amounts falling due within one year
6
(8,180)
(1,484,696)
Net current assets/(liabilities)
3,972
(1,479,670)
Total assets less current liabilities
630,408
339,279
Provisions for liabilities
Deferred tax liability
1,756
-
(1,756)
-
Net assets
628,652
339,279
Capital and reserves
Called up share capital
7
12,999
12,999
Share premium account
1,517,670
1,517,670
Profit and loss reserves
(902,017)
(1,191,390)
Total equity
628,652
339,279

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.

ARINVE 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 27 November 2024 and are signed on its behalf by:
K KELLY-WATT
K Kelly-Watt
Director
Company Registration No. SC524620
ARINVE LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024
- 3 -
1
Accounting policies
Company information

Arinve Limited is a private company limited by shares incorporated in Scotland. The registered office is Joseph House, Denmore Road, Bridge Of Don, Aberdeen, AB23 8JW.

1.1
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.The principal accounting policies adopted are set out below.

1.2
Going concern

Atruet the time of approving the financial statements, the directors have a reasonable expectation that the company has adequate resources to continue in operational existence for the foreseeable future. Thus the directors continue to adopt the going concern basis of accounting in preparing the financial statements.

1.3
Fixed asset investments

Investments in listed company shares are remeasured to market value at each Balance sheet date. Gains and losses on remeasurement are recognised in profit or loss for the period.

 

Other investments are stated at historic cost less impairment.

1.4
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.

1.5
Financial instruments

The Company only enters into basic financial instruments 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. These are measured at amortised cost, except for investments in listed company shares which are measured at fair value, and 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.

1.6
Taxation

The tax expense represents the sum of the tax currently payable and deferred tax.

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.

ARINVE LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2024
1
Accounting policies
(Continued)
- 4 -
Deferred tax

Deferred tax liabilities are generally recognised for all timing differences and deferred tax assets are recognised to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits. Such assets and liabilities are not recognised if the timing difference arises from goodwill or from the initial recognition of other assets and liabilities in a transaction that affects neither the tax profit nor the accounting profit.

 

The carrying amount of deferred tax assets is reviewed at each reporting end date and reduced to the extent that it is no longer probable that sufficient taxable profits will be available to allow all or part of the asset to be recovered. Deferred tax is calculated at the tax rates that are expected to apply in the period when the liability is settled or the asset is realised. Deferred tax is charged or credited in the profit and loss account, except when it relates to items charged or credited directly to equity, in which case the deferred tax is also dealt with in equity. Deferred tax assets and liabilities are offset when the company has a legally enforceable right to offset current tax assets and liabilities and the deferred tax assets and liabilities relate to taxes levied by the same tax authority.

1.7
Foreign exchange

Transactions in currencies other than pounds sterling are recorded at the rates of exchange prevailing at the dates of the transactions. At each reporting end date, monetary assets and liabilities that are denominated in foreign currencies are retranslated at the rates prevailing on the reporting end date. Gains and losses arising on translation in the period are included in profit or loss.

2
Exceptional item
2024
2023
£
£
Expenditure
Loans written off
-
624,743
3
Employees

The average monthly number of persons (including directors) employed by the company during the year was:

2024
2023
Number
Number
2
2
4
Fixed asset investments
2024
2023
£
£
Listed investments
626,436
1,346,955
Other investments
-
471,994
626,436
1,818,949
ARINVE LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2024
4
Fixed asset investments
(Continued)
- 5 -
Movements in fixed asset investments
Investments
Other
Total
£
£
£
Cost or valuation
At 1 April 2023
1,346,955
471,994
1,818,949
Additions
10,723
-
10,723
Fair value movement
61,287
-
61,287
Disposals
(792,529)
(471,994)
(1,264,523)
At 31 March 2024
626,436
-
626,436
Carrying amount
At 31 March 2024
626,436
-
626,436
At 31 March 2023
1,346,955
471,994
1,818,949
5
Debtors
2024
2023
Amounts falling due within one year:
£
£
Trade debtors
7,132
4,542
Other debtors
-
30
7,132
4,572
6
Creditors: amounts falling due within one year
2024
2023
£
£
Trade creditors
-
180
Other creditors
2,579
1,479,362
Accruals and deferred income
5,601
5,154
8,180
1,484,696
7
Share capital
2024
2023
2024
2023
Ordinary share capital
Number
Number
£
£
Issued and fully paid
Ordinary shares of £1 each
11,049
11,049
11,049
11,049
Ordinary B shares of £1 each
1,950
1,950
1,950
1,950
12,999
12,999
12,999
12,999
ARINVE LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2024
- 6 -
8
Related party transactions

During the year, the company made advances of £1,485,363 to a companies under common control. Credits of £8,580 were received, resulting in amounts due by the company at the year end of £2,579 (2023 - £1,479,362).

 

There are no set repayment terms, nor is interest charged on the outstanding balance due.

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