Company registration number 13847311 (England and Wales)
ARROWSMITH BRUNSWICK SQUARE LIMITED
UNAUDITED FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JANUARY 2024
PAGES FOR FILING WITH REGISTRAR
ARROWSMITH BRUNSWICK SQUARE LIMITED
CONTENTS
Page
Balance sheet
1
Notes to the financial statements
2 - 4
ARROWSMITH BRUNSWICK SQUARE LIMITED
BALANCE SHEET
AS AT
31 JANUARY 2024
31 January 2024
- 1 -
2024
2023
Notes
£
£
£
£
Fixed assets
Investment property
3
8,218,818
7,440,276
Current assets
Debtors
4
2,282,319
315,196
Creditors: amounts falling due within one year
5
(12,342,005)
(8,320,451)
Net current liabilities
(10,059,686)
(8,005,255)
Net liabilities
(1,840,868)
(564,979)
Capital and reserves
Called up share capital
100
100
Profit and loss reserves
(1,840,968)
(565,079)
Total equity
(1,840,868)
(564,979)
For the financial year ended 31 January 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
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.
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.
These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.
The directors of the company have elected not to include a copy of the profit and loss account within the financial statements.true
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:
M Haji
Director
Company registration number 13847311 (England and Wales)
ARROWSMITH BRUNSWICK SQUARE LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JANUARY 2024
- 2 -
1
Accounting policies
Company information
Arrowsmith Brunswick Square Limited is a private company limited by shares incorporated in England and Wales. The registered office is Unit 6, 2-20 Scrutton Street, London, United Kingdom, EC2A 4RJ.
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, [modified to include the revaluation of freehold properties and to include investment properties and certain financial instruments at fair value]. 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
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.
1.4
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
Leases
Rentals payable under operating leases, including any lease incentives received, are charged to profit or loss on a straight line basis over the term of the relevant lease except where another more systematic basis is more representative of the time pattern in which economic benefits from the leases asset are consumed.
Rental income from operating leases is recognised on a straight line basis over the term of the relevant lease. Initial direct costs incurred in negotiating and arranging an operating lease are added to the carrying amount of the leased asset and recognised on a straight line basis over the lease term.
2
Employees
The average monthly number of persons (including directors) employed by the company during the year was:
2024
2023
Number
Number
Total
2
2
ARROWSMITH BRUNSWICK SQUARE LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 JANUARY 2024
- 3 -
3
Investment property
2024
£
Fair value
At 1 February 2023
7,440,276
Additions
778,542
At 31 January 2024
8,218,818
Included in fair value of investment property is freehold land of £7,929,293 which is not depreciated.
4
Debtors
2024
2023
Amounts falling due within one year:
£
£
Trade debtors
1,879,223
4,454
Other debtors
403,096
310,742
2,282,319
315,196
5
Creditors: amounts falling due within one year
2024
2023
£
£
Bank loans and overdrafts
4,900,005
4,900,000
Trade creditors
696,053
68,253
Amounts owed to group undertakings
986,005
830,449
Other creditors
5,759,942
2,521,749
12,342,005
8,320,451
6
Related party transactions
Amounts owed by the company:
During the year the company owed £986,005 (2023 - £830,449) to Arrowsmith Investment Limited, the parent company.
During the year the company owed £341,612 (2023 - £172,002) to Arrowsmith Management Limited, a company under common control.
Amounts owed to the company:
During the year the company was owed £15,000 (2023 - £nil) to AWAL Investment Limited, a company under common control.
The above loans are interest free and there are no terms of payment.
ARROWSMITH BRUNSWICK SQUARE LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 JANUARY 2024
- 4 -
7
Parent company
Arrowsmith Investment Limited, registered at:
Unit 6
2-20 Scrutton street
Shoreditch
London
EC2A 4RJ
The ultimate controlling party is M Abbas Ali Haji.