Registered number
11998511
Ardua Property Management Limited
Unaudited Filleted Accounts
31 May 2024
Ardua Property Management Limited
Registered number: 11998511
Balance Sheet
as at 31 May 2024
Notes 2024 2023
£ £
Fixed assets
Tangible assets 3 1,420 1,670
Investments 4 400,000 353,252
401,420 354,922
Current assets
Debtors 5 - 2,000
Cash at bank and in hand 1,706 5,632
1,706 7,632
Creditors: amounts falling due within one year 7 (119,926) (112,526)
Net current liabilities (118,220) (104,894)
Total assets less current liabilities 283,200 250,028
Creditors: amounts falling due after more than one year 8 (255,019) (255,019)
Provisions for liabilities (5,335) -
Net assets/(liabilities) 22,846 (4,991)
Capital and reserves
Called up share capital 100 100
Profit and loss account 22,746 (5,091)
Shareholders' funds 22,846 (4,991)
The directors are satisfied that the company is entitled to exemption from the requirement to obtain an audit under section 477 of the Companies Act 2006.
The members have not required the company to obtain an audit in accordance with section 476 of the Act.
The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts.
The accounts have been prepared and delivered in accordance with the special provisions applicable to companies subject to the small companies regime. The profit and loss account has not been delivered to the Registrar of Companies.
Mr S Roberts
Director
Approved by the board on 26 February 2025
Ardua Property Management Limited
Notes to the Accounts
for the year ended 31 May 2024
1 Accounting policies
Basis of preparation
The accounts have been prepared under the historical cost convention and in accordance with FRS 102, The Financial Reporting Standard applicable in the UK and Republic of Ireland (as applied to small entities by section 1A of the standard). The financial statements are presented in sterling which is the functional currency of the company and are rounded to the nearest £.
Turnover
The company has no turnover as its income is derived from rental income receivable during the year.
Investment properties
Investment properties for which fair value can be measured reliably without undue cost or effort are measured at fair value at each reporting date with changes in fair value recognised in profit or loss.
Tangible fixed assets
Tangible fixed assets are measured at cost less accumulative depreciation and any accumulative impairment losses. Depreciation is provided on all tangible fixed assets, other than freehold land, at rates calculated to write off the cost, less estimated residual value, of each asset evenly over its expected useful life, as follows:
Plant and machinery 15% reducing balance
Debtors and creditors receivable/payable within one year
Debtors and creditors with no stated interest rate and receivable and payable within one year are recorded at transaction price. Any losses from impairment are recognised in the profit and loss account in other administrative expenses.
Taxation
A current tax liability is recognised for the tax payable on the taxable profit of the current and past periods. A current tax asset is recognised in respect of a tax loss that can be carried back to recover tax paid in a previous period. Deferred tax is recognised in respect of all timing differences between the recognition of income and expenses in the financial statements and their inclusion in tax assessments. 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. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date and that are expected to apply to the reversal of the timing difference, except for revalued land and investment property where the tax rate that applies to the sale of the asset is used. Current and deferred tax assets and liabilities are not discounted.
Provisions
Provisions (ie liabilities of uncertain timing or amount) are recognised when there is an obligation at the reporting date as a result of a past event, it is probable that economic benefit will be transferred to settle the obligation and the amount of the obligation can be estimated reliably.
2 Employees 2024 2023
Number Number
Average number of persons employed by the company 2 2
3 Tangible fixed assets
Plant and machinery etc
£
Cost
At 1 June 2023 3,125
At 31 May 2024 3,125
Depreciation
At 1 June 2023 1,455
Charge for the year 250
At 31 May 2024 1,705
Net book value
At 31 May 2024 1,420
At 31 May 2023 1,670
4 Investments
Other
investments
£
Cost
At 1 June 2023 353,252
Revaluation 46,748
At 31 May 2024 400,000
Investment properties are carried at fair value with gains/losses recognised in the profit and loss account. Deferred taxation is provided on these gains at the rate expected to apply when the property is sold.

Investment properties' fair value could be measured reliably without undue cost or effort. At the year end the Director, Mr I Roberts, has assessed the fair value of properties and this is reflected in the cumulative carring amount.
5 Debtors 2024 2023
£ £
Other debtors - 2,000
6 Investments held as current assets 2024 2023
£ £
Fair value
Increase/(decrease) in fair value included in the profit and loss account for the financial year
Unlisted investments 46,748 -
7 Creditors: amounts falling due within one year 2024 2023
£ £
Other creditors 119,926 112,526
8 Creditors: amounts falling due after one year 2024 2023
£ £
Bank loans 255,019 255,019
9 Loans 2024 2023
£ £
Creditors include:
Instalments falling due for payment after more than five years 255,019 -
Secured bank loans 255,019 -
The above loans are secured via fixed and floating charges over the company's assets.
10 Other information
Ardua Property Management Limited is a private company limited by shares and incorporated in England. Its registered office is:
4 Northernhay Square
Exeter
Devon
EX4 3ES
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