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Registered number: 10256969









ARDELIUS PROPERTIES LIMITED







UNAUDITED

DIRECTOR'S REPORT AND FINANCIAL STATEMENTS

FOR THE YEAR ENDED 30 APRIL 2024

 
ARDELIUS PROPERTIES LIMITED
 
 
COMPANY INFORMATION


 Director
R A Pears 




 Registered number
10256969



 Registered office
12th Floor Aldgate Tower
2 Leman Street

London

E1W 9US





 
ARDELIUS PROPERTIES LIMITED
 

CONTENTS



Page
Director's Report
1
Statement of Comprehensive Income
2
Statement of Financial Position
3
Notes to the Financial Statements
4 - 6


 
ARDELIUS PROPERTIES LIMITED
 
 
 
DIRECTOR'S REPORT
FOR THE YEAR ENDED 30 APRIL 2024

The director presents his report and the financial statements for the year ended 30 April 2024.

Principal activity

The principal activity of the company continued to be that of the purchase and sale of real estate.

Director

The director who served during the year was:

R A Pears 

Small companies note

In preparing this report, the director has taken advantage of the small companies exemptions provided by section 415A of the Companies Act 2006.

This report was approved by the board and signed on its behalf.
 



R A Pears
Director
Date: 30 January 2025

Page 1

 
ARDELIUS PROPERTIES LIMITED
 
 
STATEMENT OF COMPREHENSIVE INCOME
FOR THE YEAR ENDED 30 APRIL 2024

2024
2023
£
£

  

Turnover
  
18,483
19,100

Gross profit
  
18,483
19,100

Administrative expenses
  
(24,492)
(6,881)

Operating (loss)/profit
  
(6,009)
12,219

Interest receivable and similar income
  
1
-

Interest payable and similar expenses
  
(22,609)
(33,579)

Loss before tax
  
(28,617)
(21,360)

Loss for the financial year
  
(28,617)
(21,360)

There was no other comprehensive income for 2024 (2023:£NIL).

The notes on pages 4 to 6 form part of these financial statements.

Page 2

 
ARDELIUS PROPERTIES LIMITED
REGISTERED NUMBER: 10256969

STATEMENT OF FINANCIAL POSITION
AS AT 30 APRIL 2024

2024
2023
Note
£
£

  

Current assets
  

Stocks
  
327,209
327,209

Debtors: amounts falling due within one year
 4 
46,378
-

Cash at bank and in hand
 5 
8,998
39,457

  
382,585
366,666

Creditors: amounts falling due within one year
 6 
(610,909)
(566,372)

Net current liabilities
  
 
 
(228,324)
 
 
(199,706)

Total assets less current liabilities
  
(228,324)
(199,706)

  

Net liabilities
  
(228,324)
(199,706)


Capital and reserves
  

Called up share capital 
  
1,000
1,000

Profit and loss account
  
(229,324)
(200,706)

  
(228,324)
(199,706)


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 were approved and authorised for issue by the board and were signed on its behalf by: 


R A Pears
Director
Date: 30 January 2025

The notes on pages 4 to 6 form part of these financial statements.

Page 3

 
ARDELIUS PROPERTIES LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 APRIL 2024

1.


General information

Ardelius Properties Limited (the "Company") is a private company limited by shares incorporated in England and Wales. The registered office address is 12th Floor Aldgate Tower, 2 Leman Street, London,  E1W 9US.

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.

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 following principal accounting policies have been applied:

 
2.2

Going concern

The financial statements have been prepared on a going concern basis even though the company has net liabilities of £208,324 (2023 - £199,706). The validity of the going concern concept is dependent on the continuing support from creditors. The director believes that the going concern concept is applicable as the company will be able to meet its debts as and when they fall due, as the director is confident that the principal creditor will continue to provide support as required for a period of at least 12 months from the date of approval of the financial statements.

 
2.3

Turnover

Turnover is recognised at the fair value consideration received or receivable for goods and services provided in the normal course of business.

 
2.4

Interest income

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

 
2.5

Stocks

Stocks are stated at the lower of cost and net realisable value, being the estimated selling price less costs to complete and sell. 

At each reporting date, stocks are assessed for impairment. If stock is impaired, the carrying amount is reduced to its selling price less costs to complete and sell. The impairment loss is recognised immediately in profit or loss.

 
2.6

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.

Page 4

 
ARDELIUS PROPERTIES LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 APRIL 2024

2.Accounting policies (continued)

 
2.7

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.

 
2.8

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.

 
2.9

Financial instruments

The Company has elected to apply the provisions of Section 11 “Basic Financial Instruments” of FRS 102 to all of its financial instruments.

Financial instruments are recognised in the Company's Statement of Financial Position 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 and cash and bank balances, are initially measured at transaction price including transaction costs and are subsequently carried at amortised cost using the effective interest method unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest. 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 liability
Basic financial liabilities, including creditors, bank loans, loans from fellow group companies and preference shares that are classified as debt are initially recognised at transaction price unless the arrangement constitutes a financing transaction, where the debt instrument is measured at the present value of the future payments discounted at a market rate of interest. Financial liabilities classified as payable within one year are not amortised.
Debt instruments are subsequently carried at amortised cost, using effective interest rate method.
Trade creditors are obligations to pay for good or services that have been acquired in the ordinary course of business from suppliers. Amounts payable are classified as current liabilities if payments is due within one year or less. If not, they are presented as non-current liabilities. Trade creditors are recognised initially at transaction price and subsequently measured at amortised cost using the
Page 5

 
ARDELIUS PROPERTIES LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 APRIL 2024

2.Accounting policies (continued)


2.9
Financial instruments (continued)

effective interest method.


3.


Employees




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


4.


Debtors

2024
2023
£
£


Trade debtors
45,278
-

Prepayments
1,100
-

46,378
-



5.


Cash and cash equivalents

2024
2023
£
£

Cash at bank and in hand
8,998
39,457

8,998
39,457



6.


Creditors: Amounts falling due within one year

2024
2023
£
£

Trade creditors
2,640
-

Other creditors
394,967
376,089

Accruals and deferred income
213,302
190,283

610,909
566,372


Included in other creditors is a related party loan of £322,990 (2023: £322,990) which is secured by way of legal mortgage on the properties held as stock. The loan attracts interest at 7% p.a and is repayable on demand.

 
Page 6