Company registration number 10933518 (England and Wales)
AR ENGLAND LIMITED
UNAUDITED FINANCIAL STATEMENTS
FOR THE 18 MONTH PERIOD ENDED 31 DECEMBER 2023
PAGES FOR FILING WITH REGISTRAR
AR ENGLAND LIMITED
CONTENTS
Page
Balance sheet
1
Notes to the financial statements
2 - 5
AR ENGLAND LIMITED
BALANCE SHEET
AS AT
31 DECEMBER 2023
31 December 2023
- 1 -
31 December 2023
31 June 2022
Notes
£
£
£
£
Fixed assets
Investment property
4
177,522
Investments
5
69,852
177,522
69,852
Current assets
Debtors
6
2,630,243
2,599,177
Cash at bank and in hand
15,104
313,980
2,645,347
2,913,157
Creditors: amounts falling due within one year
7
(396,677)
(297,173)
Net current assets
2,248,670
2,615,984
Net assets
2,426,192
2,685,836
Capital and reserves
Called up share capital
100
100
Profit and loss reserves
2,426,092
2,685,736
Total equity
2,426,192
2,685,836
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 18 month period ended 31 December 2023 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 18 month period 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.
The financial statements were approved by the board of directors and authorised for issue on 31 January 2025 and are signed on its behalf by:
S Senesie
Director
Company registration number 10933518 (England and Wales)
AR ENGLAND LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE 18 MONTH PERIOD ENDED 31 DECEMBER 2023
- 2 -
1
Accounting policies
Company information
AR England Limited is a private company limited by shares incorporated in England and Wales. The registered office is The Long Barn, Cobham Park Rd, Cobham, KT11 3NE.
1.1
Reporting period
The financial statements to 31 December 2023 have been prepared for an 18 month period. This was to bring the company in line with other operational reporting requirements. The comparative amounts presented in the financial statements (including the related notes) are not entirely comparable.
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 certain financial instruments at fair value. The principal accounting policies adopted are set out below.
1.3
Turnover
Turnover is recognised at the fair value of the consideration received or receivable for services provided in
the normal course of business, and is shown net of VAT and other sales related taxes. The fair value of
consideration takes into account trade discounts, settlement discounts and volume rebates.
Image rights income is recognised in line with the terms of the underlying contract.
1.4
Investment property
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. Changes in fair value are recognised in profit or loss.
1.5
Fixed asset investments
Investments are initially measured at transaction price excluding transaction costs, and are subsequently
measured at fair value at each reporting date. Changes in fair value are recognised in profit or loss. Transaction costs are expensed to profit or loss as incurred.
The fair value of investments is determined by marking the investments to market as at the balance sheet
date.
1.6
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.
AR ENGLAND LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE 18 MONTH PERIOD ENDED 31 DECEMBER 2023
1
Accounting policies
(Continued)
- 3 -
1.7
Financial instruments
The company has elected to apply the provisions of Section 11 ‘Basic Financial Instruments’ and Section 12 ‘Other Financial Instruments Issues’ of FRS 102 to all of its financial instruments.
Financial instruments are recognised in the company's balance sheet when the company becomes party to the contractual provisions of the instrument.
Financial assets and liabilities are offset, with the net amounts presented in the financial statements, when there is a legally enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously.
Basic financial assets
Basic financial assets, which include debtors, are initially measured at transaction price including transaction costs. Financial assets classified as receivable within one year are not amortised.
Classification of financial liabilities
Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instrument is any contract that evidences a residual interest in the assets of the company after deducting all of its liabilities.
Basic financial liabilities
Basic financial liabilities, including creditors are initially recognised at transaction price. Financial liabilities
classified as payable within one year are not amortised.
Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of
business from suppliers. Amounts payable are classified as current liabilities if payment is due within one
year or less.
1.8
Equity instruments
Equity instruments issued by the company are recorded at the proceeds received, net of transaction costs. Dividends payable on equity instruments are recognised as liabilities once they are no longer at the discretion of the company.
1.9
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.
1.10
Employee benefits
The costs of short-term employee benefits are recognised as a liability and an expense, unless those costs are required to be recognised as part of the cost of stock or fixed assets.
The cost of any unused holiday entitlement is recognised in the period in which the employee’s services are received.
Termination benefits are recognised immediately as an expense when the company is demonstrably committed to terminate the employment of an employee or to provide termination benefits.
AR ENGLAND LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE 18 MONTH PERIOD ENDED 31 DECEMBER 2023
1
Accounting policies
(Continued)
- 4 -
1.11
Retirement benefits
Payments to defined contribution retirement benefit schemes are charged as an expense as they fall due.
1.12
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
Judgements and key sources of estimation uncertainty
In the application of the company’s accounting policies, the directors are required to make judgements, estimates and assumptions about the carrying amount of assets and liabilities that are not readily apparent from other sources. The estimates and associated assumptions are based on historical experience and other factors that are considered to be relevant. Actual results may differ from these estimates.
The estimates and underlying assumptions are reviewed on an ongoing basis. Revisions to accounting estimates are recognised in the period in which the estimate is revised where the revision affects only that period, or in the period of the revision and future periods where the revision affects both current and future periods.
3
Employees
The average monthly number of persons (including directors) employed by the company during the 18 month period was:
2023
2022
Number
Number
Total
1
3
4
Investment property
2023
£
Fair value
At 1 July 2022
Additions
177,522
At 31 December 2023
177,522
Investment property comprises residential property which was purchased during the year for an open market value. The directors believe the fair value of the investment property at 31 December 2023 to be unchanged from the acquisition value.
5
Fixed asset investments
2023
2022
£
£
Other investments other than loans
69,852
AR ENGLAND LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE 18 MONTH PERIOD ENDED 31 DECEMBER 2023
5
Fixed asset investments
(Continued)
- 5 -
Fixed asset investments revalued
Fixed asset investments revalued. All investments were disposed of at the end of the reporting period. The historical cost of the investments as at 31 December 2023 is £nil (2022: £67,744).
Movements in fixed asset investments
Investments
£
Cost or valuation
At 1 July 2022
69,852
Additions
14,570
Valuation changes
1,989
Disposals
(86,411)
At 31 December 2023
-
Carrying amount
At 31 December 2023
-
At 30 June 2022
69,852
6
Debtors
2023
2022
Amounts falling due within one year:
£
£
Trade debtors
(1)
2
Other debtors
2,630,244
2,599,175
2,630,243
2,599,177
7
Creditors: amounts falling due within one year
2023
2022
£
£
Trade creditors
18,841
43,500
Taxation and social security
(5,788)
249,748
Other creditors
383,624
3,925
396,677
297,173
8
Related party transactions
At 31 December 2023 a director and shareholder of the company owed £697,183 (2022 - £1,063,823) to the company. The amount payable accrues interest at the official HMRC interest rate, is repayable on demand and is unsecured. The balance is denominated in sterling.