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REGISTERED NUMBER: 02821521 (England and Wales)















Arcade Accomodation Services Limited

Unaudited Financial Statements for the Year Ended 31 May 2024






Arcade Accomodation Services Limited (Registered number: 02821521)






Contents of the Financial Statements
for the Year Ended 31 May 2024




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


Arcade Accomodation Services Limited

Company Information
for the Year Ended 31 May 2024







DIRECTORS: P Nicolaou
N Nicolaou
C Nicolaou
C Nicolaou



REGISTERED OFFICE: 97 Judd Street
London
WC1H 9JG



REGISTERED NUMBER: 02821521 (England and Wales)



ACCOUNTANTS: Chris Syrimis & Co
Chartered Certified Accountants
97 Judd Street
London
WC1H 9JG



BANKERS: Cynergy Bank
P.O. Box 17484
London
N14 5WH

Arcade Accomodation Services Limited (Registered number: 02821521)

Balance Sheet
31 May 2024

31/5/24 31/5/23
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 770 1,006
Investment property 5 2,253,322 2,019,180
2,254,092 2,020,186

CURRENT ASSETS
Debtors 6 11,494 12,484
Cash at bank and in hand 287,599 15,856
299,093 28,340
CREDITORS
Amounts falling due within one year 7 60,166 73,682
NET CURRENT ASSETS/(LIABILITIES) 238,927 (45,342 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

2,493,019

1,974,844

CREDITORS
Amounts falling due after more than one
year

8

(1,440,707

)

(897,073

)

PROVISIONS FOR LIABILITIES (76,321 ) (95,490 )
NET ASSETS 975,991 982,281

Arcade Accomodation Services Limited (Registered number: 02821521)

Balance Sheet - continued
31 May 2024

31/5/24 31/5/23
Notes £    £    £    £   
CAPITAL AND RESERVES
Called up share capital 100 100
Revaluation reserve 10 (281,282 ) -
Retained earnings 1,257,173 982,181
SHAREHOLDERS' FUNDS 975,991 982,281

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 May 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 May 2024 in accordance with Section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for:
(a)ensuring that the company keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006 and
(b)preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of each financial year and of its profit or loss for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the company.

The financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

In accordance with Section 444 of the Companies Act 2006, the Statement of Income and Retained Earnings has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 31 January 2025 and were signed on its behalf by:





C Nicolaou - Director


Arcade Accomodation Services Limited (Registered number: 02821521)

Notes to the Financial Statements
for the Year Ended 31 May 2024

1. STATUTORY INFORMATION

Arcade Accomodation Services Limited is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.

2. ACCOUNTING POLICIES

Basis of preparing the financial statements
These financial statements have been prepared in accordance with Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" including the provisions of Section 1A "Small Entities" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention as modified by the revaluation of certain assets.

Turnover
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Plant and machinery - 20% on reducing balance
Fixtures and fittings - 25% on reducing balance

Investment property
Investment property is shown at most recent valuation. Any aggregate surplus or deficit arising from changes in fair value is recognised in profit or loss.

Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Statement of Income and Retained Earnings, except to the extent that it relates to items recognised in other comprehensive income or directly in equity.

Current or deferred taxation assets and liabilities are not discounted.

Current tax is recognised at the amount of tax payable using the tax rates and laws that have been enacted or substantively enacted by the balance sheet date.


Arcade Accomodation Services Limited (Registered number: 02821521)

Notes to the Financial Statements - continued
for the Year Ended 31 May 2024

2. ACCOUNTING POLICIES - continued
Deferred tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date.

Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from those in which they are recognised in financial statements. Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the year end and that are expected to apply to the reversal of the timing difference.

Unrelieved tax losses and other deferred tax assets are recognised only to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 2 (2023 - 2 ) .

4. TANGIBLE FIXED ASSETS
Fixtures
Plant and and
machinery fittings Totals
£    £    £   
COST
At 1 June 2023
and 31 May 2024 19,032 69,440 88,472
DEPRECIATION
At 1 June 2023 18,695 68,771 87,466
Charge for year 68 168 236
At 31 May 2024 18,763 68,939 87,702
NET BOOK VALUE
At 31 May 2024 269 501 770
At 31 May 2023 337 669 1,006

Arcade Accomodation Services Limited (Registered number: 02821521)

Notes to the Financial Statements - continued
for the Year Ended 31 May 2024

5. INVESTMENT PROPERTY
Total
£   
FAIR VALUE
At 1 June 2023 2,019,180
Additions 740,554
Disposals (506,412 )
At 31 May 2024 2,253,322
NET BOOK VALUE
At 31 May 2024 2,253,322
At 31 May 2023 2,019,180

Fair value at 31 May 2024 is represented by:
£   
Valuation in 2024 714,021
Cost 1,539,301
2,253,322

If Investment Property had not been revalued it would have been included at the following historical cost:

31/5/24 31/5/23
£    £   
Cost 1,539,301 1,004,708

Investment property was valued on an open market basis on 31 May 2024 by the directors .

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31/5/24 31/5/23
£    £   
Trade debtors 9,494 12,484
Other debtors 2,000 -
11,494 12,484

Arcade Accomodation Services Limited (Registered number: 02821521)

Notes to the Financial Statements - continued
for the Year Ended 31 May 2024

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31/5/24 31/5/23
£    £   
Trade creditors 1,380 4,850
Taxation and social security 52,457 23,232
Other creditors 6,329 45,600
60,166 73,682

8. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN
ONE YEAR
31/5/24 31/5/23
£    £   
Bank loans 1,440,707 897,073

Amounts falling due in more than five years:

Repayable by instalments
Bank loans more 5 yr by instal 1,440,707 897,073

9. SECURED DEBTS

The following secured debts are included within creditors:

31/5/24 31/5/23
£    £   
Bank loans 1,440,707 897,073

The bank loans are secured by a mortgage over the company's freehold properties.

10. RESERVES
Revaluation
reserve
£   
Revaluation of property (281,282 )

At 31 May 2024 (281,282 )