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Registration number: SC595034

Arandkay Ltd

Unaudited Financial Statements

for the Year Ended 30 April 2024

 

Arandkay Ltd

Contents

Statement of Financial Position

1 to 2

Notes to the Unaudited Financial Statements

3 to 7

 

Arandkay Ltd

(Registration number: SC595034)
Statement of Financial Position as at 30 April 2024

Note

2024
£

2023
£

Fixed assets

 

Investment property

4

842,999

842,999

Current assets

 

Debtors

5

-

3,841

Cash at bank and in hand

 

11,159

8,684

 

11,159

12,525

Creditors: Amounts falling due within one year

6

(375,544)

(373,914)

Net current liabilities

 

(364,385)

(361,389)

Total assets less current liabilities

 

478,614

481,610

Creditors: Amounts falling due after more than one year

6

(272,662)

(283,241)

Provisions for liabilities

(34,609)

(34,609)

Net assets

 

171,343

163,760

Capital and reserves

 

Called up share capital

100

100

Retained earnings

7

171,243

163,660

Shareholders' funds

 

171,343

163,760

For the financial year ending 30 April 2024 the Company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Directors' responsibilities:

The members have not required the Company to obtain an audit of its accounts for the year in question in accordance with section 476; and

The Directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

These financial statements have been prepared in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006.

These financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime. As permitted by section 444 (5A) of the Companies Act 2006, the Directors have not delivered to the registrar a copy of the Income Statement.

 

Arandkay Ltd

(Registration number: SC595034)
Statement of Financial Position as at 30 April 2024

Approved and authorised by the Board on 30 January 2025 and signed on its behalf by:
 

.........................................
Mr Kenneth Loades
Director

.........................................
Ms Rebecca Loades
Director

 

Arandkay Ltd

Notes to the Unaudited Financial Statements for the Year Ended 30 April 2024

1

General information

The Company is a private company limited by share capital, incorporated in Scotland.

The address of its registered office is:
29 Commercial Street
Dundee
DD1 3DG
United Kingdom

The principal place of business is:
11a Station Road
Invergowrie
Dundee
DD2 5DU
Scotland

2

Accounting policies

Summary of significant accounting policies and key accounting estimates

The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.

Statement of compliance

These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A smaller entities - 'The Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland' and the Companies Act 2006 (as applicable to companies subject to the small companies' regime).

Basis of preparation

These financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.

The financial statements are prepared in sterling, which is the functional currency of the entity.

Revenue recognition

Turnover comprises the fair value of the consideration received or receivable for the sale of goods and provision of services in the ordinary course of the Company’s activities. Turnover is shown net of sales/value added tax, returns, rebates and discounts.

The Company recognises revenue when:
The amount of revenue can be reliably measured;
it is probable that future economic benefits will flow to the entity;
and specific criteria have been met for each of the Company's activities.

 

Arandkay Ltd

Notes to the Unaudited Financial Statements for the Year Ended 30 April 2024

Tax

The tax expense for the period comprises current tax. Tax is recognised in profit or loss, except that a change attributable to an item of income or expense recognised as other comprehensive income is also recognised directly in other comprehensive income.

The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the reporting date in the countries where the Company operates and generates taxable income.

Investment property

Investment property is carried at fair value, derived from the current market prices for comparable real estate determined annually by external valuers. The valuers use observable market prices, adjusted if necessary for any difference in the nature, location or condition of the specific asset. Changes in fair value are recognised in profit or loss.

Cash and cash equivalents

Cash and cash equivalents comprise cash on hand and call deposits, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value.

Trade debtors

Trade debtors are amounts due from customers for merchandise sold or services performed in the ordinary course of business.

Trade debtors are recognised initially at the transaction price. They are subsequently measured at amortised cost using the effective interest method, less provision for impairment. A provision for the impairment of trade debtors is established when there is objective evidence that the Company will not be able to collect all amounts due according to the original terms of the receivables.

Dividends

Dividend distribution to the Company’s shareholders is recognised as a liability in the financial statements in the reporting period in which the dividends are declared.

Financial instruments

Classification
Financial instruments are classified and accounted for, according to the substance of the contractual agreement, as either financial assets, financial liabilities or equity instruments. An equity instrument is any contract that evidences a residual interest in the assets of the company after deducting all of its liabilities.
 

3

Staff numbers

The average number of persons employed by the Company (including Directors) during the year, was 0 (2023 - 0).

 

Arandkay Ltd

Notes to the Unaudited Financial Statements for the Year Ended 30 April 2024

4

Investment properties

2024
£

At 1 May

842,999

Additions

-

Disposals

-

Fair value adjustments

-

At 30 April

842,999

The last valuation of the properties was at 30 April 2024 by the directors and they are of the opinion that they are stated at fair value in these accounts.

5

Debtors

Current

2024
£

2023
£

Other debtors

-

3,841

 

-

3,841

 

Arandkay Ltd

Notes to the Unaudited Financial Statements for the Year Ended 30 April 2024

6

Creditors

Creditors: amounts falling due within one year

Note

2024
£

2023
£

Due within one year

 

Loans and borrowings

35,483

33,199

Trade creditors

 

1,766

13

Taxation and social security

 

2,248

2,694

Accruals and deferred income

 

1,827

3,600

Other creditors

 

334,220

334,408

 

375,544

373,914

Creditors: amounts falling due after more than one year

Note

2024
£

2023
£

Due after one year

 

Loans and borrowings

272,662

283,241

2024
£

2023
£

Due after more than five years

After more than five years by instalments

95,246

117,246

-

-

7

Reserves

2024

2023

£

£

Profit and loss account - distributable

23,700

16,117

Revaluation on investment properties - undistributable

182,152

182,152

Deferred tax on investment properties - undistributable

(34,609)

(34,609)

171,243

163,660

 

Arandkay Ltd

Notes to the Unaudited Financial Statements for the Year Ended 30 April 2024

8

Dividends

Interim dividends paid

2024
£

2023
£

Interim dividend of £10.53 (2023 - £21.05) per each Ordinary A

1,000

2,000

Interim dividend of £200.00 (2023 - £400.00) per each Ordinary B

1,000

2,000

2,000

4,000