Caseware UK (AP4) 2023.0.135 2023.0.135 2024-04-302024-04-302023-05-01The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.falseNo description of principal activity11truetruefalse 13359107 2023-05-01 2024-04-30 13359107 2022-05-01 2023-04-30 13359107 2024-04-30 13359107 2023-04-30 13359107 c:Director1 2023-05-01 2024-04-30 13359107 d:FreeholdInvestmentProperty 2024-04-30 13359107 d:FreeholdInvestmentProperty 2023-04-30 13359107 d:CurrentFinancialInstruments 2024-04-30 13359107 d:CurrentFinancialInstruments 2023-04-30 13359107 d:CurrentFinancialInstruments d:WithinOneYear 2024-04-30 13359107 d:CurrentFinancialInstruments d:WithinOneYear 2023-04-30 13359107 d:ShareCapital 2024-04-30 13359107 d:ShareCapital 2023-04-30 13359107 d:RetainedEarningsAccumulatedLosses 2024-04-30 13359107 d:RetainedEarningsAccumulatedLosses 2023-04-30 13359107 c:OrdinaryShareClass1 2023-05-01 2024-04-30 13359107 c:OrdinaryShareClass1 2024-04-30 13359107 c:OrdinaryShareClass1 2023-04-30 13359107 c:FRS102 2023-05-01 2024-04-30 13359107 c:AuditExempt-NoAccountantsReport 2023-05-01 2024-04-30 13359107 c:FullAccounts 2023-05-01 2024-04-30 13359107 c:PrivateLimitedCompanyLtd 2023-05-01 2024-04-30 13359107 2 2023-05-01 2024-04-30 13359107 e:PoundSterling 2023-05-01 2024-04-30 iso4217:GBP xbrli:shares xbrli:pure

Registered number: 13359107









ARK 29 LIMITED







UNAUDITED

FINANCIAL STATEMENTS

INFORMATION FOR FILING WITH THE REGISTRAR

FOR THE YEAR ENDED 30 APRIL 2024

 
ARK 29 LIMITED
REGISTERED NUMBER: 13359107

BALANCE SHEET
AS AT 30 APRIL 2024

2024
2023
Note
£
£

Fixed assets
  

Investment property
 4 
4,800,540
4,800,540

  
4,800,540
4,800,540

Current assets
  

Debtors: amounts falling due within one year
 5 
45,706
132,872

Cash at bank and in hand
  
28,360
10,039

  
74,066
142,911

Creditors: amounts falling due within one year
 6 
(5,170,115)
(5,019,318)

Net current liabilities
  
 
 
(5,096,049)
 
 
(4,876,407)

Total assets less current liabilities
  
(295,509)
(75,867)

  

Net liabilities
  
(295,509)
(75,867)


Capital and reserves
  

Called up share capital 
 7 
1
1

Profit and loss account
  
(295,510)
(75,868)

  
(295,509)
(75,867)


Page 1

 
ARK 29 LIMITED
REGISTERED NUMBER: 13359107
    
BALANCE SHEET (CONTINUED)
AS AT 30 APRIL 2024

The director considers that the Company is entitled to exemption from audit under section 477 of the Companies Act 2006 and members have not required the Company to obtain an audit for the year in question in accordance with section 476 of the Companies Act 2006.

The director acknowledges his responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.

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 income and retained earnings 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 31 January 2025.




N Nathwani
Director

The notes on pages 3 to 6 form part of these financial statements.

Page 2

 
ARK 29 LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 APRIL 2024

1.


General information

The Company is a private company, limited by shares, incorporated and domiciled in England within the United Kingdom, registration number 13359107.  The Company's registered office is Sterling House, 71 Francis Road, Edgbaston, Birmingham, B16 8SP.
The company was incorporated on 27 April 2021 and the comparative figures cover the period from 27 April 2021 to 30 April 2022.  These accounts cover the year ended 30 April 2023.
The financial statements are presented in sterling which is the functional currency of the company and the financial statements are 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.

Cash flow
Under Financial Reporting Standard 102, the company is exempt from the requirement to prepare a cash flow statement on the grounds that it qualifies as a small company.

The following principal accounting policies have been applied:

 
2.2

Going concern

The company has made a loss in the year and as a result has net liabilities.  The director is prepared to continue supporting the company going forwards and is one of the main creditors of the company and as such has considered it appropriate to prepare the accounts on a going concern basis.

 
2.3

Revenue

Revenue is recognised to the extent that it is probable that the economic benefits will flow to the Company and the revenue can be reliably measured. Revenue is measured as the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. The following criteria must also be met before revenue is recognised:

Rental of investment property and rental related recharges
Turnover from the rental of investment property and rental related recharges is recognised when all the following conditions are satisfied:
- the amount of turnover can be measured reliably;
- it is probable that the Company will receive consideration due for the rental of property;
- the period of rental can be measured reliably; and
- the costs incurred or to be incurred in respect of the transaction can be measured reliably.

 
2.4

Interest income

Interest income is recognised in profit or loss using the effective interest method.

Page 3

 
ARK 29 LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 APRIL 2024

2.Accounting policies (continued)

 
2.5

Finance costs

Finance costs are charged to profit or loss over the term of the debt using the effective interest method so that the amount charged is at a constant rate on the carrying amount. Issue costs are initially recognised as a reduction in the proceeds of the associated capital instrument.

 
2.6

Borrowing costs

All borrowing costs are recognised in profit or loss in the year in which they are incurred.

 
2.7

Pensions

Defined contribution pension plan

The Company operates a defined contribution plan for its employees. A defined contribution plan is a pension plan under which the Company pays fixed contributions into a separate entity. Once the contributions have been paid the Company has no further payment obligations.

The contributions are recognised as an expense in profit or loss when they fall due. Amounts not paid are shown in accruals as a liability in the Balance sheet. The assets of the plan are held separately from the Company in independently administered funds.

 
2.8

Investment property

Investment property is carried at fair value determined annually by external valuers and derived from the current market rents and investment property yields for comparable real estate, adjusted if necessary for any difference in the nature, location or condition of the specific asset. No depreciation is provided. Changes in fair value are recognised in profit or loss.

 
2.9

Debtors

Short-term debtors are measured at transaction price, less any impairment. Loans receivable are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method, less any impairment.

 
2.10

Cash and cash equivalents

Cash is represented by cash in hand and deposits with financial institutions repayable without penalty on notice of not more than 24 hours. Cash equivalents are highly liquid investments that mature in no more than three months from the date of acquisition and that are readily convertible to known amounts of cash with insignificant risk of change in value.

 
2.11

Creditors

Short-term creditors are measured at the transaction price. Other financial liabilities, including bank loans, are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method.


3.


Employees

The average monthly number of employees, including directors, during the year was 1 (2023 - 1).

Page 4

 
ARK 29 LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 APRIL 2024

4.


Investment property


Freehold investment property

£



Valuation


At 1 May 2023
4,800,540



At 30 April 2024
4,800,540

The 2024 valuations were made by the director, on an open market value for existing use basis.







5.


Debtors

2024
2023
£
£


Trade debtors
1,145
9,818

Other debtors
-
75,822

Prepayments and accrued income
44,561
47,232

45,706
132,872



6.


Creditors: Amounts falling due within one year

2024
2023
£
£

Bank loans
3,163,000
2,883,000

Trade creditors
62,799
72,877

Other taxation and social security
4,506
-

Other creditors
1,900,559
2,021,069

Accruals and deferred income
39,251
42,372

5,170,115
5,019,318


Page 5

 
ARK 29 LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 APRIL 2024

7.


Share capital

2024
2023
£
£
Allotted, called up and fully paid



1 (2023 - 1) Ordinary share of £1.00
1
1



8.


Transactions with directors

During the period the company received a loan from the director of £Nil (2023 - £Nil) and made repayments of £146,710 (2023 - £Nil).  As at the balance sheet date £1,850,402 (2023 - £1,997,112) was due to the director. The loan is interest free and repayable on demand.

 
Page 6