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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: J G J Butterworth
J W E Barcellos





SECRETARY: J W E Barcellos





REGISTERED OFFICE: Unit 1, St Stephens Court
15 - 17 St Stephens Road
Bournemouth
Dorset
BH2 6LA





REGISTERED NUMBER: 00540712 (England and Wales)





AUDITORS: Schofields
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 50 50
Tangible assets 5 1,070 3,950
Investments 6 72,326 73,519
73,446 77,519

CURRENT ASSETS
Debtors 7 17,145,372 16,278,476
Cash at bank and in hand 166,734 1,059,007
17,312,106 17,337,483
CREDITORS
Amounts falling due within one year 8 818,908 769,908
NET CURRENT ASSETS 16,493,198 16,567,575
TOTAL ASSETS LESS CURRENT
LIABILITIES

16,566,644

16,645,094

CREDITORS
Amounts falling due after more than one year 9 3,159,085 3,182,168
NET ASSETS 13,407,559 13,462,926

CAPITAL AND RESERVES
Called up share capital 11 20,000 20,000
Revaluation reserve 12 697 697
Retained earnings 13,386,862 13,442,229
SHAREHOLDERS' FUNDS 13,407,559 13,462,926

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 Income Statement has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 25 March 2025 and were signed on its behalf by:




J G J Butterworth - Director



J W E Barcellos - Director


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 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.

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 50
NET BOOK VALUE
At 31 March 2024 50
At 31 March 2023 50

5. TANGIBLE FIXED ASSETS
Fixtures
and Motor
fittings vehicles Totals
£    £    £   
COST
At 1 April 2023
and 31 March 2024 143,882 31,688 175,570
DEPRECIATION
At 1 April 2023 143,882 27,738 171,620
Charge for year - 2,880 2,880
At 31 March 2024 143,882 30,618 174,500
NET BOOK VALUE
At 31 March 2024 - 1,070 1,070
At 31 March 2023 - 3,950 3,950

6. FIXED ASSET INVESTMENTS
Shares in Shares in
group related Other
undertakings companies investments Totals
£    £    £    £   
COST OR VALUATION
At 1 April 2023 71,573 262 1,684 73,519
Revaluations - - (1,193 ) (1,193 )
At 31 March 2024 71,573 262 491 72,326
NET BOOK VALUE
At 31 March 2024 71,573 262 491 72,326
At 31 March 2023 71,573 262 1,684 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 - 85,000
Amounts owed by group companies 73,259 66,452
Other debtors 2,682,618 2,715,327
2,755,877 2,866,779

Amounts falling due after more than one year:
Amounts owed by group undertakings 13,557,483 12,550,752
Other debtors 832,012 860,945
14,389,495 13,411,697

Aggregate amounts 17,145,372 16,278,476

8. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Bank loans and overdrafts 52,405 57,832
Hire purchase contracts - 4,432
Trade creditors 318,811 232,443
Amounts owed to group companies 81,304 81,304
Taxation and social security 257,715 344,183
Other creditors 108,673 49,714
818,908 769,908

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 3,159,085 3,182,168

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 3,211,490 3,240,000

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: £    £   
15,200 'A' Ordinary £1 15,200 15,200
4,800 'B' Ordinary £1 4,800 4,800
20,000 20,000

12. RESERVES
Revaluation
reserve
£   
At 1 April 2023
and 31 March 2024 697

13. DISCLOSURE UNDER SECTION 444(5B) OF THE COMPANIES ACT 2006

The Report of the Auditors was unqualified.

Mr I M Legg FCCA ACA (Senior Statutory Auditor)
for and on behalf of Schofields

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
£    £   
J G J Butterworth
Balance outstanding at start of year 2,700,196 2,283,624
Amounts advanced - 416,572
Amounts repaid (85,728 ) -
Amounts written off - -
Amounts waived - -
Balance outstanding at end of year 2,614,468 2,700,196

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.