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Registration number: NI634378

ARDU Ltd

Unaudited Filleted Abridged Financial Statements

for the Year Ended 30 September 2024

 

ARDU Ltd

Contents

Company Information

1

Abridged Balance Sheet

2 to 3

Notes to the Unaudited Abridged Financial Statements

4 to 10

 

ARDU Ltd

Company Information

Director

Mr Jim Hughes

Registered office

46 Hill Street
Belfast
Co. Antrim
BT1 2LB

Accountants

C.D. Diamond & Company
Chartered Accountants & Registered Auditors46 Hill Street
Belfast
Co. Antrim
BT1 2LB

 

ARDU Ltd

(Registration number: NI634378)
Abridged Balance Sheet as at 30 September 2024

Note

2024
£

2023
£

Fixed assets

 

Intangible assets

4

515,865

591,154

Tangible assets

5

4,182

5,576

Investments

6

1,244,494

1,244,494

Other financial assets

7

-

38,439

 

1,764,541

1,879,663

Current assets

 

Debtors

8

165,213

211,383

Cash at bank and in hand

 

49,508

148,852

 

214,721

360,235

Creditors: Amounts falling due within one year

(1,430,278)

(1,636,871)

Net current liabilities

 

(1,215,557)

(1,276,636)

Total assets less current liabilities

 

548,984

603,027

Accruals and deferred income

 

(2,750)

(2,700)

Net assets

 

546,234

600,327

Capital and reserves

 

Called up share capital

9

1,000

1,000

Retained earnings

545,234

599,327

Shareholders' funds

 

546,234

600,327

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

Director's 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 director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

All of the company’s members have consented to the preparation of an Abridged Balance Sheet in accordance with Section 444(2A) of the Companies Act 2006.

These financial statements have been prepared and 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 director has not delivered to the registrar a copy of the Profit and Loss Account.

 

ARDU Ltd

(Registration number: NI634378)
Abridged Balance Sheet as at 30 September 2024

Approved and authorised by the director on 11 March 2025
 

.........................................
Mr Jim Hughes
Director

 

ARDU Ltd

Notes to the Unaudited Abridged Financial Statements for the Year Ended 30 September 2024

1

General information

The company is a private company limited by share capital, incorporated in Northern Ireland.

The address of its registered office is:
46 Hill Street
Belfast
Co. Antrim
BT1 2LB

The principal place of business is:
3B Heron Wharf
Heron Road
Belfast
BT3 9LE

These financial statements were authorised for issue by the director on 11 March 2025.

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 abridged 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 abridged 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.

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.

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.

 

ARDU Ltd

Notes to the Unaudited Abridged Financial Statements for the Year Ended 30 September 2024

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.

Tangible assets

Tangible assets are stated in the balance sheet at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.

The cost of tangible assets includes directly attributable incremental costs incurred in their acquisition and installation.

Depreciation

Depreciation is charged so as to write off the cost of assets, other than land and properties under construction over their estimated useful lives, as follows:

Asset class

Depreciation method and rate

Fixtures & Fittings

25% Reducing Balance

Business combinations

Business combinations are accounted for using the purchase method. The consideration for each acquisition is measured at the aggregate of the fair values at acquisition date of assets given, liabilities incurred or assumed, and equity instruments issued by the group in exchange for control of the acquired, plus any costs directly attributable to the business combination. When a business combination agreement provides for an adjustment to the cost of the combination contingent on future events, the group includes the estimated amount of that adjustment in the cost of the combination at the acquisition date if the adjustment is probable and can be measured reliably.

Goodwill

Goodwill arising on the acquisition of an entity represents the excess of the cost of acquisition over the company’s interest in the net fair value of the identifiable assets, liabilities and contingent liabilities of the entity recognised at the date of acquisition. Goodwill is initially recognised as an asset at cost and is subsequently measured at cost less accumulated amortisation and accumulated impairment losses. Goodwill is held in the currency of the acquired entity and revalued to the closing rate at each reporting period date. Goodwill is amortised over its useful life, which shall not exceed ten years if a reliable estimate of the useful life cannot be made.

Amortisation

Amortisation is provided on intangible assets so as to write off the cost, less any estimated residual value, over their useful life as follows:

Asset class

Amortisation method and rate

Goodwill

10% Straight Line

Investments

Investments in equity shares which are publicly traded or where the fair value can be measured reliably are initially measured at fair value, with changes in fair value recognised in profit or loss. Investments in equity shares which are not publicly traded and where fair value cannot be measured reliably are measured at cost less impairment.


Interest income on debt securities, where applicable, is recognised in income using the effective interest method. Dividends on equity securities are recognised in income when receivable.

 

ARDU Ltd

Notes to the Unaudited Abridged Financial Statements for the Year Ended 30 September 2024

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.

Trade creditors

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Accounts payable are classified as current liabilities if the company does not have an unconditional right, at the end of the reporting period, to defer settlement of the creditor for at least twelve months after the reporting date. If there is an unconditional right to defer settlement for at least twelve months after the reporting date, they are presented as non-current liabilities.

Trade creditors are recognised initially at the transaction price and subsequently measured at amortised cost using the effective interest method.

Borrowings

Interest-bearing borrowings are initially recorded at fair value, net of transaction costs. Interest-bearing borrowings are subsequently carried at amortised cost, with the difference between the proceeds, net of transaction costs, and the amount due on redemption being recognised as a charge to the profit and loss account over the period of the relevant borrowing.

Interest expense is recognised on the basis of the effective interest method and is included in interest payable and similar charges.

Borrowings are classified as current liabilities unless the company has an unconditional right to defer settlement of the liability for at least twelve months after the reporting date.

Share capital

Ordinary shares are classified as equity. Equity instruments are measured at the fair value of the cash or other resources received or receivable, net of the direct costs of issuing the equity instruments. If payment is deferred and the time value of money is material, the initial measurement is on a present value basis.

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.

3

Staff numbers

The average number of persons employed by the company (including the director) during the year, was 1 (2023 - 1).

 

ARDU Ltd

Notes to the Unaudited Abridged Financial Statements for the Year Ended 30 September 2024

4

Intangible assets

Total
£

Cost or valuation

At 1 October 2023

752,891

At 30 September 2024

752,891

Amortisation

At 1 October 2023

161,737

Amortisation charge

75,289

At 30 September 2024

237,026

Carrying amount

At 30 September 2024

515,865

At 30 September 2023

591,154

5

Tangible assets

Furniture, fittings and equipment
 £

Total
£

Cost or valuation

At 1 October 2023

10,021

10,021

At 30 September 2024

10,021

10,021

Depreciation

At 1 October 2023

4,445

4,445

Charge for the year

1,394

1,394

At 30 September 2024

5,839

5,839

Carrying amount

At 30 September 2024

4,182

4,182

At 30 September 2023

5,576

5,576

 

ARDU Ltd

Notes to the Unaudited Abridged Financial Statements for the Year Ended 30 September 2024

6

Investments

Total
£

Cost or valuation

At 1 October 2023

1,244,494

Provision

Carrying amount

At 30 September 2024

1,244,494

At 30 September 2023

1,244,494

2024
£

2023
£

Other investments

The market value of the listed investments at 30 September 2024 was £Nil (2023 - £38,439).

7

Other financial assets (current and non-current)

Non-current financial assets

Cost or valuation

Impairment

Carrying amount

At 30 September 2024

8

Debtors

Debtors includes £Nil (2023 - £Nil) due after more than one year.

9

Share capital

Allotted, called up and fully paid shares

 

ARDU Ltd

Notes to the Unaudited Abridged Financial Statements for the Year Ended 30 September 2024

2024

2023

No.

£

No.

£

Ordinary Shares of £1 each

1,000

1,000

1,000

1,000

       

10

Dividends

2024

2023

£

£

Interim dividend of £65.00 (2023 - £50.00) per ordinary share

65,000

50,000

 

 

11

Related party transactions

 

ARDU Ltd

Notes to the Unaudited Abridged Financial Statements for the Year Ended 30 September 2024

Director's remuneration

The director's remuneration for the year was as follows:

2024
£

2023
£

Remuneration

10,011

-