Caseware UK (AP4) 2024.0.164 2024.0.164 During the year, the company provided an interest-free loan to the directors, which is repayable on demand. At the year end the directors owed £7,000 (2023: £Nil) to the company. Rivers Birtwell Construction Limited Common directors During the year Rivers Birtwell Construction Ltd recharged £695 (2023: £6,939) to Ardra Ltd. At the year end £Nil (2023: £Nil) was due from/(to) Rivers Birtwell Construction Limited. Rivers Birtwell Limited Common directors During the year Rivers Birtwell Ltd charged a management fee of £45,000 (2023: £24,000) and recharged expenses of £3,253 (2023: £2,356) to Ardra Ltd. At the year end £185,450 (2023: £72,450) was due from Rivers Birtwell Limited to Ardra Ltd. Modial Ltd Common directors During the year Modial Ltd recharged expenses of £Nil (2023: £2,760) to Ardra Limited. At the year end £Nil (2023: £61,240) was due from Modial Ltd. Iculous Ltd Common directors During the year Ardra Ltd recharged expenses of £Nil (2023: £2,584) to Iculous Ltd. Charro Ltd Common directors During the year Charro Ltd recharged expenses of £Nil (2023: £405) to Ardra Limited. Big Student House Limited Common directors During the year Big Student House Limited charged agents fees of £66,150 (2023: £10,237) to Ardra Limited.false2true2023-10-01falseNo description of principal activity2trueThe members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006. 11380721 2023-10-01 2024-09-30 11380721 2022-10-01 2023-09-30 11380721 2024-09-30 11380721 2023-09-30 11380721 2022-10-01 11380721 5 2023-10-01 2024-09-30 11380721 5 2022-10-01 2023-09-30 11380721 d:Director2 2023-10-01 2024-09-30 11380721 e:FreeholdInvestmentProperty 2023-10-01 2024-09-30 11380721 e:FreeholdInvestmentProperty 2024-09-30 11380721 e:FreeholdInvestmentProperty 2023-09-30 11380721 e:FreeholdInvestmentProperty 2 2023-10-01 2024-09-30 11380721 e:CurrentFinancialInstruments 2024-09-30 11380721 e:CurrentFinancialInstruments 2023-09-30 11380721 e:Non-currentFinancialInstruments 2024-09-30 11380721 e:Non-currentFinancialInstruments 2023-09-30 11380721 e:CurrentFinancialInstruments e:WithinOneYear 2024-09-30 11380721 e:CurrentFinancialInstruments e:WithinOneYear 2023-09-30 11380721 e:Non-currentFinancialInstruments e:AfterOneYear 2024-09-30 11380721 e:Non-currentFinancialInstruments e:AfterOneYear 2023-09-30 11380721 e:Non-currentFinancialInstruments e:BetweenOneTwoYears 2024-09-30 11380721 e:Non-currentFinancialInstruments e:BetweenOneTwoYears 2023-09-30 11380721 e:Non-currentFinancialInstruments e:MoreThanFiveYears 2024-09-30 11380721 e:Non-currentFinancialInstruments e:MoreThanFiveYears 2023-09-30 11380721 e:ShareCapital 2023-10-01 2024-09-30 11380721 e:ShareCapital 2024-09-30 11380721 e:ShareCapital 2022-10-01 2023-09-30 11380721 e:ShareCapital 2023-09-30 11380721 e:ShareCapital 2022-10-01 11380721 e:RevaluationReserve 2023-10-01 2024-09-30 11380721 e:RevaluationReserve 2024-09-30 11380721 e:RevaluationReserve 5 2023-10-01 2024-09-30 11380721 e:RevaluationReserve 2022-10-01 2023-09-30 11380721 e:RevaluationReserve 2023-09-30 11380721 e:RevaluationReserve 2022-10-01 11380721 e:RevaluationReserve 5 2022-10-01 2023-09-30 11380721 e:RetainedEarningsAccumulatedLosses 2023-10-01 2024-09-30 11380721 e:RetainedEarningsAccumulatedLosses 2024-09-30 11380721 e:RetainedEarningsAccumulatedLosses 2022-10-01 2023-09-30 11380721 e:RetainedEarningsAccumulatedLosses 2023-09-30 11380721 e:RetainedEarningsAccumulatedLosses 2022-10-01 11380721 d:OrdinaryShareClass1 2023-10-01 2024-09-30 11380721 d:OrdinaryShareClass1 2024-09-30 11380721 d:OrdinaryShareClass2 2023-10-01 2024-09-30 11380721 d:OrdinaryShareClass2 2024-09-30 11380721 d:OrdinaryShareClass2 2023-09-30 11380721 d:OrdinaryShareClass3 2023-10-01 2024-09-30 11380721 d:OrdinaryShareClass3 2024-09-30 11380721 d:OrdinaryShareClass3 2023-09-30 11380721 d:OrdinaryShareClass4 2023-10-01 2024-09-30 11380721 d:OrdinaryShareClass4 2024-09-30 11380721 d:OrdinaryShareClass4 2023-09-30 11380721 d:OrdinaryShareClass5 2023-10-01 2024-09-30 11380721 d:OrdinaryShareClass5 2024-09-30 11380721 d:OrdinaryShareClass5 2023-09-30 11380721 d:FRS102 2023-10-01 2024-09-30 11380721 d:AuditExemptWithAccountantsReport 2023-10-01 2024-09-30 11380721 d:FullAccounts 2023-10-01 2024-09-30 11380721 d:PrivateLimitedCompanyLtd 2023-10-01 2024-09-30 11380721 e:AcceleratedTaxDepreciationDeferredTax 2024-09-30 11380721 e:AcceleratedTaxDepreciationDeferredTax 2023-09-30 11380721 f:PoundSterling 2023-10-01 2024-09-30 11380721 e:RetainedEarningsAccumulatedLosses 5 2023-10-01 2024-09-30 11380721 e:RetainedEarningsAccumulatedLosses 5 2022-10-01 2023-09-30 xbrli:shares iso4217:GBP xbrli:pure

Registered number: 11380721










Ardra Limited








Unaudited

Financial statements

Information for filing with the registrar

For the Year Ended 30 September 2024

 
Ardra Limited
 
  
Chartered Accountants' Report to the Board of Directors on the preparation of the Unaudited Statutory Financial Statements of Ardra Limited for the Year Ended 30 September 2024

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the financial statements of Ardra Limited for the year ended 30 September 2024 which comprise the Balance Sheet, the Statement of Changes in Equity and the related notes from the Company's accounting records and from information and explanations you have given us.

As a practising member firm of the Institute of Chartered Accountants in England and Wales (ICAEW)we are subject to its ethical and other professional requirements which are detailed at https://www.icaew.com /regulation.

This report is made solely to the Board of Directors of Ardra Limited, as a body, in accordance with the terms of our engagement letter dated 15 June 2022Our work has been undertaken solely to prepare for your approval the financial statements of Ardra Limited and state those matters that we have agreed to state to the Board of Directors of Ardra Limited, as a body, in this report in accordance with ICAEW Technical Release TECH07/16AAF. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than Ardra Limited and its Board of Directors, as a body, for our work or for this report. 

It is your duty to ensure that Ardra Limited has kept adequate accounting records and to prepare statutory financial statements that give a true and fair view of the assets, liabilities, financial position and loss of Ardra Limited. You consider that Ardra Limited is exempt from the statutory audit requirement for the year.

We have not been instructed to carry out an audit or review of the financial statements of Ardra Limited. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory financial statements.

  



Kreston Reeves LLP
Chartered Accountants
Springfield House
Springfield Road
Horsham
West Sussex
RH12 2RG
11 February 2025
Page 1

 
Ardra Limited
Registered number: 11380721

Balance Sheet
As at 30 September 2024

2024
2023
Note
£
£

Fixed assets
  

Investment property
 4 
7,820,001
6,520,001

  
7,820,001
6,520,001

Current assets
  

Debtors: amounts falling due within one year
 5 
194,383
141,246

Cash at bank and in hand
  
26,441
31,303

  
220,824
172,549

Creditors: amounts falling due within one year
 6 
(26,718)
(300,006)

Net current assets/(liabilities)
  
 
 
194,106
 
 
(127,457)

Total assets less current liabilities
  
8,014,107
6,392,544

Creditors: amounts falling due after more than one year
 7 
(4,994,334)
(4,721,049)

Provisions for liabilities
  

Deferred tax
 9 
(746,888)
(423,236)

  
 
 
(746,888)
 
 
(423,236)

Net assets
  
2,272,885
1,248,259


Capital and reserves
  

Called up share capital 
 10 
1,000
1,000

Revaluation reserve
  
2,240,665
1,269,709

Profit and loss account
  
31,220
(22,450)

  
2,272,885
1,248,259


Page 2

 
Ardra Limited
Registered number: 11380721

Balance Sheet (continued)
As at 30 September 2024

The directors consider 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 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.

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 comprehensive income 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 by: 




................................................
O Dorman
Director
Date: 10 February 2025

The notes on pages 5 to 11 form part of these financial statements.

Page 3

 
Ardra Limited
 

Statement of Changes in Equity
For the Year Ended 30 September 2024


Called up share capital
Revaluation reserve
Profit and loss account
Total equity

£
£
£
£


At 1 October 2022
1,000
1,169,493
3,881
1,174,374


Comprehensive income for the year

Loss for the year

-
-
(59,737)
(59,737)

Surplus on revaluation of freehold property
-
133,622
-
133,622


Other comprehensive income for the year
-
133,622
-
133,622


Total comprehensive income for the year
-
133,622
(59,737)
73,885

Transfer to/from profit and loss account
-
(33,406)
33,406
-



At 1 October 2023
1,000
1,269,709
(22,450)
1,248,259


Comprehensive income for the year

Loss for the year

-
-
(249,982)
(249,982)

Surplus on revaluation of freehold property
-
1,294,608
-
1,294,608


Other comprehensive income for the year
-
1,294,608
-
1,294,608


Total comprehensive income for the year
-
1,294,608
(249,982)
1,044,626


Contributions by and distributions to owners

Dividends: Equity capital
-
-
(20,000)
(20,000)

Transfer to/from profit and loss account
-
(323,652)
323,652
-


At 30 September 2024
1,000
2,240,665
31,220
2,272,885


Page 4

 
Ardra Limited
 

 
Notes to the Financial Statements
For the Year Ended 30 September 2024

1.


General information

The company is a private company, limited by share capital, incorporated in England, within the United Kingdom. The registration number of the company is 11380721.
The registered office address is 30 Waterfront, Brighton Marina Village, Brighton, England, BN2 5WA.
These financial statements are presented in £ Sterling and 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.

The following principal accounting policies have been applied:

 
2.2

Going concern

The financial statements have been prepared on a going concern basis. The company is dependent upon the continued support of related undertakings and mortgage companies for the foreseeable future.

 
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:

Rendering of services

Revenue from a contract to provide services is recognised in the period in which the services are provided in accordance with the stage of completion of the contract when all of the following conditions are satisfied:
the amount of revenue can be measured reliably;
it is probable that the Company will receive the consideration due under the contract;
the stage of completion of the contract at the end of the reporting period can be measured reliably; and
the costs incurred and the costs to complete the contract can be measured reliably.

 
2.4

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.

 
2.5

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 5

 
Ardra Limited
 

 
Notes to the Financial Statements
For the Year Ended 30 September 2024

2.Accounting policies (continued)

 
2.6

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.

 
2.7

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.

 
2.8

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.

 
2.9

Borrowing costs

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

 
2.10

Provisions for liabilities

Provisions are made where an event has taken place that gives the Company a legal or constructive obligation that probably requires settlement by a transfer of economic benefit, and a reliable estimate can be made  amount of the obligation.
Provisions are charges as an expense to profit or loss in the year that the Company becomes aware of the obligation, and are measured at the best estimate at the balance sheet date of the expenditure required to settle the obligation, taking into account relevant risks and uncertainties.
When payments are eventually made, they are charged to the provision carried in the Balance Sheet.

 
2.11

Dividends

Equity dividends are recognised when they become legally payable. Interim equity dividends are recognised when paid. Final equity dividends are recognised when approved by the shareholders at an annual general meeting.

Page 6

 
Ardra Limited
 

 
Notes to the Financial Statements
For the Year Ended 30 September 2024

2.Accounting policies (continued)

 
2.12

Current and deferred taxation

The tax expense for the year comprises current and deferred tax. Tax is recognised in profit or loss except that a charge attributable to an item of income and expense recognised as other comprehensive income or to an item recognised directly in equity is also recognised in other comprehensive income or directly in equity respectively.

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

Deferred tax balances are recognised in respect of all timing differences that have originated but not reversed by the balance sheet date, except that:
The recognition of deferred tax assets is limited to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits; and
Any deferred tax balances are reversed if and when all conditions for retaining associated tax allowances have been met.

Deferred tax balances are not recognised in respect of permanent differences except in respect of business combinations, when deferred tax is recognised on the differences between the fair values of assets acquired and the future tax deductions available for them and the differences between the fair values of liabilities acquired and the amount that will be assessed for tax. Deferred tax is determined using tax rates and laws that have been enacted or substantively enacted by the balance sheet date.



3.


Employees

The average monthly number of employees, including directors, during the year was 2 (2023 - 2).

Page 7

 
Ardra Limited
 

 
Notes to the Financial Statements
For the Year Ended 30 September 2024

4.


Investment property


Freehold investment property

£



Valuation


At 1 October 2023
6,520,001


Additions at cost
5,392


Surplus on revaluation
1,294,608



At 30 September 2024
7,820,001

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



If the Investment properties had been accounted for under the historic cost accounting rules, the properties would have been measured as follows:

2024
2023
£
£


Historic cost
4,832,447
4,827,055

4,832,447
4,827,055


5.


Debtors

2024
2023
£
£


Amounts owed by group undertakings
185,450
133,690

Other debtors
7,000
-

Prepayments and accrued income
1,933
7,556

194,383
141,246



6.


Creditors: Amounts falling due within one year

2024
2023
£
£

Bank loans
734
734

Other loans
-
280,637

Trade creditors
6,955
16,685

Corporation tax
17,229
-

Accruals and deferred income
1,800
1,950

26,718
300,006


Page 8

 
Ardra Limited
 

 
Notes to the Financial Statements
For the Year Ended 30 September 2024

7.


Creditors: Amounts falling due after more than one year

2024
2023
£
£

Bank loans
4,994,334
4,721,049

4,994,334
4,721,049


The following liabilities were secured:



Details of security provided:

Included within creditors is £4,994,334 (2023: £4,721,049) which is secured by way of a legal mortgage provided by United Trust Bank Limited and Shawbrook Bank, over investmenet properties held by the company.  The value of these properties at the end of the period was £7,80,001 (2023: £6,520,001).


8.


Loans


Analysis of the maturity of loans is given below:


2024
2023
£
£

Amounts falling due within one year

Bank loans
734
734

Other loans
-
280,637


734
281,371

Amounts falling due 1-2 years

Bank loans
722
1,479


722
1,479


Amounts falling due after more than 5 years

Mortgages
4,993,612
4,719,570

4,995,068
5,002,420


Page 9

 
Ardra Limited
 

 
Notes to the Financial Statements
For the Year Ended 30 September 2024

9.


Deferred taxation




2024


£






At beginning of year
(423,236)


Charged to profit or loss
(323,652)



At end of year
(746,888)

The provision for deferred taxation is made up as follows:

2024
2023
£
£


Chargeable gains
(746,888)
(423,236)

(746,888)
(423,236)


10.


Share capital

2024
2023
£
£
Allotted, called up and fully paid



213 (2023 - 213) Ordinary A shares of £1 each
213
213
212 (2023 - 212) Ordinary B shares of £1 each
212
212
213 (2023 - 213) Ordinary C shares of £1 each
213
213
212 (2023 - 212) Ordinary D shares of £1 each
212
212
38 (2023 - 38) Ordinary E shares of £1 each
38
38
37 (2023 - 37) Ordinary F shares of £1 each
37
37
38 (2023 - 38) Ordinary G shares of £1 each
38
38
37 (2023 - 37) Ordinary H shares of £1 each
37
37

1,000

1,000

In December 2020, 1000 Ordinary shares were redesignated as 213 A shares, 212 B shares, 213 C shares, 212 D shares, 38 E shares, 37 F shares, 38 G shares, 37 H shares at par.
All shares rank pari passu, although each class has different dividend rights.



11.


Transactions with directors

During the year, the company provided an interest-free loan to the directors, which is repayable on demand. At the year end the directors owed £7,000 (2023: £Nil) to the company.  

Page 10

 
Ardra Limited
 

 
Notes to the Financial Statements
For the Year Ended 30 September 2024

12.


Related party transactions

Rivers Birtwell Construction Limited 
Common directors
During the year Rivers Birtwell Construction Ltd recharged £695 (2023: £6,939) to Ardra Ltd. At the year end £Nil (2023: £Nil) was due from/(to) Rivers Birtwell Construction Limited. 
Rivers Birtwell Limited
Common directors
During the year Rivers Birtwell Ltd charged a management fee of £45,000 (2023: £24,000) and recharged expenses of £3,253 (2023: £2,356) to Ardra Ltd. At the year end £185,450 (2023: £72,450) was due from Rivers Birtwell Limited to Ardra Ltd.
Modial Ltd
Common directors
During the year Modial Ltd recharged expenses of £Nil (2023: £2,760) to Ardra Limited. At the year end £Nil (2023: £61,240)  was due from Modial Ltd.
Iculous Ltd
Common directors
During the year Ardra Ltd recharged expenses of £Nil (2023: £2,584) to Iculous Ltd.
Charro Ltd
Common directors
During the year Charro Ltd recharged expenses of £Nil (2023: £405) to Ardra Limited.
Big Student House Limited
Common directors
During the year Big Student House Limited charged agents fees of £66,150 (2023: £10,237) to Ardra Limited.
 


13.


Controlling party

The company is controlled by its parent undertaking, Birtwell & Dorman LLP, for which the directors G Birtwell and O Dorman are the only members. The registered office and principal place of business of Birtwell & Dorman LLP is 30 Waterfront, Brighton Marina Village, Brighton, England, BN2 5WA.


Page 11