FINANCIAL STATEMENTS |
FOR THE YEAR ENDED 31 MARCH 2024 |
FOR |
ARNEWOOD ESTATES LIMITED |
FINANCIAL STATEMENTS |
FOR THE YEAR ENDED 31 MARCH 2024 |
FOR |
ARNEWOOD ESTATES LIMITED |
ARNEWOOD ESTATES LIMITED (REGISTERED NUMBER: 00540712) |
CONTENTS OF THE FINANCIAL STATEMENTS |
For The Year Ended 31 March 2024 |
Page |
Company Information | 1 |
Balance Sheet | 2 |
Notes to the Financial Statements | 3 |
ARNEWOOD ESTATES LIMITED |
COMPANY INFORMATION |
For The Year Ended 31 March 2024 |
DIRECTORS: |
SECRETARY: |
REGISTERED OFFICE: |
REGISTERED NUMBER: |
AUDITORS: |
Chartered Accountants and Statutory Auditors |
Unit 1, St Stephens Court |
15-17 St Stephens Road |
Bournemouth |
Dorset |
BH2 6LA |
ARNEWOOD ESTATES LIMITED (REGISTERED NUMBER: 00540712) |
BALANCE SHEET |
31 March 2024 |
2024 | 2023 |
Notes | £ | £ | £ | £ |
FIXED ASSETS |
Intangible assets | 4 |
Tangible assets | 5 |
Investments | 6 |
CURRENT ASSETS |
Debtors | 7 |
Cash at bank and in hand |
CREDITORS |
Amounts falling due within one year | 8 |
NET CURRENT ASSETS |
TOTAL ASSETS LESS CURRENT LIABILITIES |
CREDITORS |
Amounts falling due after more than one year | 9 |
NET ASSETS |
CAPITAL AND RESERVES |
Called up share capital | 11 |
Revaluation reserve | 12 |
Retained earnings |
SHAREHOLDERS' FUNDS |
In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered. |
The financial statements were approved by the Board of Directors and authorised for issue on |
ARNEWOOD ESTATES LIMITED (REGISTERED NUMBER: 00540712) |
NOTES TO THE FINANCIAL STATEMENTS |
For The Year Ended 31 March 2024 |
1. | STATUTORY INFORMATION |
Arnewood Estates Limited is a |
2. | ACCOUNTING POLICIES |
Basis of preparing the financial statements |
Preparation of consolidated financial statements |
The financial statements contain information about Arnewood Estates Limited as an individual company and do not contain consolidated financial information as the parent of a group. The company is exempt under Section 400 of the Companies Act 2006 from the requirements to prepare consolidated financial statements as it and its subsidiary undertaking are included by full consolidation in the consolidated financial statements of its parent, FJB Hotels Limited, Unit 1 St Stephens Court,15-17 Stephens Road, Bournemouth, BH2 6LA. |
Turnover |
Turnover represents management charges. It is recognised when economic benefits flow to the company and the turnover can be reliably measured. It is measured as the fair value of the consideration received or receivable, excluding value added tax. |
Intangible assets |
Intangible assets are initially measured at cost. After initial recognition, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses. |
Fixed assets |
Depreciation is provided on fixed assets, at rates calculated to write off the cost less estimated residual value, of each asset evenly over its expected useful life, as follows: |
Fixtures, fittings & equipment | - | over 5 years to 20 years |
Motor vehicles | - | 25% reducing balance |
The carrying values of tangible fixed assets are reviewed for impairment if events or changes in circumstances indicate the carrying value may not be recoverable. Any impairment in the value will be charged to profit and loss account. |
Taxation |
Taxation for the year comprises current and deferred tax. Tax is recognised in the Income Statement, 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. |
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. |
Foreign currencies |
Assets and liabilities in foreign currencies are translated into sterling at the rates of exchange ruling at the balance sheet date. Transactions in foreign currencies are translated into sterling at the rate of exchange ruling at the date of transaction. Exchange differences are taken into account in arriving at the operating result. |
ARNEWOOD ESTATES LIMITED (REGISTERED NUMBER: 00540712) |
NOTES TO THE FINANCIAL STATEMENTS - continued |
For The Year Ended 31 March 2024 |
2. | ACCOUNTING POLICIES - continued |
Going concern |
At the time of approving the financial statements, the directors have not identified material uncertainties related to events or conditions that may cast significant doubt about the ability of the company to continue as a going concern. |
The directors in performing their assessment of going concern have considered the availability of intra-group loan and support arrangements for access to cash flows necessary for the day to day running of the company's operations. |
Having assessed the principal risks the directors consider it appropriate for the accounts to be prepared on a going concern basis. |
3. | EMPLOYEES AND DIRECTORS |
The average number of employees during the year was NIL (2023 - NIL). |
4. | INTANGIBLE FIXED ASSETS |
Goodwill |
£ |
COST |
At 1 April 2023 |
and 31 March 2024 |
NET BOOK VALUE |
At 31 March 2024 |
At 31 March 2023 |
5. | TANGIBLE FIXED ASSETS |
Fixtures |
and | Motor |
fittings | vehicles | Totals |
£ | £ | £ |
COST |
At 1 April 2023 |
and 31 March 2024 |
DEPRECIATION |
At 1 April 2023 |
Charge for year |
At 31 March 2024 |
NET BOOK VALUE |
At 31 March 2024 |
At 31 March 2023 |
6. | FIXED ASSET INVESTMENTS |
Shares in | Shares in |
group | related | Other |
undertakings | companies | investments | Totals |
£ | £ | £ | £ |
COST OR VALUATION |
At 1 April 2023 | 73,519 |
Revaluations | ( |
) | (1,193 | ) |
At 31 March 2024 | 72,326 |
NET BOOK VALUE |
At 31 March 2024 | 72,326 |
At 31 March 2023 | 73,519 |
ARNEWOOD ESTATES LIMITED (REGISTERED NUMBER: 00540712) |
NOTES TO THE FINANCIAL STATEMENTS - continued |
For The Year Ended 31 March 2024 |
6. | FIXED ASSET INVESTMENTS - continued |
Cost or valuation at 31 March 2024 is represented by: |
Shares in | Shares in |
group | related | Other |
undertakings | companies | investments | Totals |
£ | £ | £ | £ |
Valuation in 2024 | - | - | 491 | 491 |
Cost | 71,573 | 262 | - | 71,835 |
71,573 | 262 | 491 | 72,326 |
The Directors believe that the market value of shares in related companies and unquoted securities is not less than cost. |
The company's investments at the Balance Sheet date in the share capital of companies include the following: |
Subsidiary |
Nature of business |
Class of shares |
% holding |
Arnewood Property Investments Limited | Dormant | Ordinary | 100.00 |
Arnewood Estates (Management) Limited | Dormant | Ordinary | 100.00 |
Solent Leisure Limited | Dormant | Ordinary | 100.00 |
New Hippodrome (Southampton) Limited | Dormant | Ordinary | 100.00 |
FJB Theatres (Grimsby) Limited | Dormant | Ordinary | 100.00 |
Astoria Casino (Bournemouth) Limited | Dormant | Ordinary | 100.00 |
Brownsea Haven Properties Limited | Dormant | Ordinary | 100.00 |
The registered office of the above subsidiary companies is Unit 1 St Stephens Court, 15-17 St Stephens Road, Bournemouth, BH2 6LA. |
7. | DEBTORS |
2024 | 2023 |
£ | £ |
Amounts falling due within one year: |
Trade debtors |
Amounts owed by group companies |
Other debtors |
Amounts falling due after more than one year: |
Amounts owed by group undertakings |
Other debtors |
Aggregate amounts |
8. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
2024 | 2023 |
£ | £ |
Bank loans and overdrafts |
Hire purchase contracts |
Trade creditors |
Amounts owed to group companies |
Taxation and social security |
Other creditors |
ARNEWOOD ESTATES LIMITED (REGISTERED NUMBER: 00540712) |
NOTES TO THE FINANCIAL STATEMENTS - continued |
For The Year Ended 31 March 2024 |
9. | CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR |
2024 | 2023 |
£ | £ |
Bank loans |
Amounts falling due in more than five years: |
Repayable by instalments |
Bank loans more 5 years by instalment | 2,908,124 | 2,913,026 |
10. | SECURED DEBTS |
The following secured debts are included within creditors: |
2024 | 2023 |
£ | £ |
Bank loans |
The bank loans are secured by way of legal charges over the group's freehold and investment property. |
11. | CALLED UP SHARE CAPITAL |
Allotted, issued and fully paid: |
Number: | Class: | Nominal | 2024 | 2023 |
value: | £ | £ |
'A' Ordinary | £1 | 15,200 | 15,200 |
'B' Ordinary | £1 | 4,800 | 4,800 |
20,000 | 20,000 |
12. | RESERVES |
Revaluation |
reserve |
£ |
At 1 April 2023 |
and 31 March 2024 |
13. | DISCLOSURE UNDER SECTION 444(5B) OF THE COMPANIES ACT 2006 |
The Report of the Auditors was unqualified. |
for and on behalf of |
14. | CONTINGENT LIABILITIES |
The company has provided a guarantee in respect of bank loans held in parent company FJB Hotels Limited. As at 31 March 2024 the outstanding bank loan balances in FJB Hotels Limited amounted to £2,735,713 (2023 - £2,760,000). |
15. | FINANCIAL COMMITMENTS |
The total commitments, guarantees and contingencies at 31 March 2024 amount to £22,776 (2023 - 34,659). |
ARNEWOOD ESTATES LIMITED (REGISTERED NUMBER: 00540712) |
NOTES TO THE FINANCIAL STATEMENTS - continued |
For The Year Ended 31 March 2024 |
16. | DIRECTORS' ADVANCES, CREDITS AND GUARANTEES |
The following advances and credits to a director subsisted during the years ended 31 March 2024 and 31 March 2023: |
2024 | 2023 |
£ | £ |
Balance outstanding at start of year |
Amounts advanced |
Amounts repaid | ( |
) |
Amounts written off | - | - |
Amounts waived | - | - |
Balance outstanding at end of year |
The loan is unsecured, interest free and repayable on demand. |
17. | ULTIMATE PARENT COMPANY |
The ultimate parent company is FJB Hotels Limited whose registered office is Unit 1 St Stephens Court, 15-17 St Stephens Road, Bournemouth, BH2 6LA. |