IRIS Accounts Production v25.1.0.734 07921852 Board of Directors Board of Directors 31.8.24 1.9.23 31.8.24 31.8.24 Medium entities These accounts have been prepared in accordance with the provisions applicable to companies subject to the medium-sized companies regime. true true false true true false false false true false Fair value model Ordinary 0 iso4217:GBPiso4217:USDiso4217:EURxbrli:sharesxbrli:pureutr:tonnesutr:kWh079218522023-08-31079218522024-08-31079218522023-09-012024-08-31079218522022-08-31079218522022-09-012023-08-31079218522023-08-3107921852ns15:EnglandWales2023-09-012024-08-3107921852ns14:PoundSterling2023-09-012024-08-3107921852ns10:Director12023-09-012024-08-3107921852ns10:Director22023-09-012024-08-3107921852ns10:Consolidated2024-08-3107921852ns10:ConsolidatedGroupCompanyAccounts2023-09-012024-08-3107921852ns10:PrivateLimitedCompanyLtd2023-09-012024-08-3107921852ns10:Consolidatedns10:MediumEntities2023-09-012024-08-3107921852ns10:Consolidatedns10:Audited2023-09-012024-08-3107921852ns10:SmallCompaniesRegimeForDirectorsReport2023-09-012024-08-3107921852ns10:SmallCompaniesRegimeForAccounts2023-09-012024-08-3107921852ns10:Consolidated2023-09-012024-08-3107921852ns10:Consolidatedns10:Medium-sizedCompaniesRegimeForDirectorsReport2023-09-012024-08-3107921852ns10:Consolidatedns10:Medium-sizedCompaniesRegimeForAccounts2023-09-012024-08-3107921852ns10:FullAccounts2023-09-012024-08-310792185212023-09-012024-08-3107921852ns10:OrdinaryShareClass12023-09-012024-08-3107921852ns10:Director32023-09-012024-08-3107921852ns10:RegisteredOffice2023-09-012024-08-3107921852ns10:Consolidated2022-09-012023-08-3107921852ns5:CurrentFinancialInstruments2024-08-3107921852ns5:CurrentFinancialInstruments2023-08-3107921852ns5:ShareCapital2024-08-3107921852ns5:ShareCapital2023-08-3107921852ns5:FurtherSpecificReserve1ComponentTotalEquity2024-08-3107921852ns5:FurtherSpecificReserve1ComponentTotalEquity2023-08-3107921852ns5:RetainedEarningsAccumulatedLosses2024-08-3107921852ns5:RetainedEarningsAccumulatedLosses2023-08-3107921852ns5:ShareCapital2022-08-3107921852ns5:RetainedEarningsAccumulatedLosses2022-08-3107921852ns5:FurtherSpecificReserve1ComponentTotalEquity2022-08-3107921852ns5:RetainedEarningsAccumulatedLosses2022-09-012023-08-3107921852ns5:FurtherSpecificReserve1ComponentTotalEquity2022-09-012023-08-3107921852ns5:RetainedEarningsAccumulatedLosses2023-09-012024-08-3107921852ns5:FurtherSpecificReserve1ComponentTotalEquity2023-09-012024-08-3107921852ns5:NetGoodwill2023-09-012024-08-3107921852ns5:LandBuildings2023-08-3107921852ns5:FurnitureFittings2023-08-3107921852ns5:LandBuildings2023-09-012024-08-3107921852ns5:FurnitureFittings2023-09-012024-08-3107921852ns5:LandBuildings2024-08-3107921852ns5:FurnitureFittings2024-08-3107921852ns5:LandBuildings2023-08-3107921852ns5:FurnitureFittings2023-08-3107921852ns5:CostValuation2023-08-3107921852ns5:WithinOneYearns5:CurrentFinancialInstruments2024-08-3107921852ns5:WithinOneYearns5:CurrentFinancialInstruments2023-08-3107921852ns10:OrdinaryShareClass12024-08-3107921852ns5:RetainedEarningsAccumulatedLosses2023-08-3107921852ns5:FurtherSpecificReserve1ComponentTotalEquity2023-08-31
REGISTERED NUMBER: 07921852 (England and Wales)











Group Strategic Report,

Report of the Directors and

Consolidated Financial Statements

for the Year Ended 31 August 2024

for

Ark Property & Investments Ltd

Ark Property & Investments Ltd (Registered number: 07921852)

Contents of the Consolidated Financial Statements
for the Year Ended 31 August 2024










Page

Company Information 1

Group Strategic Report 2

Report of the Directors 3

Report of the Independent Auditors 5

Consolidated Income Statement 8

Consolidated Other Comprehensive Income 9

Consolidated Balance Sheet 10

Company Balance Sheet 11

Consolidated Statement of Changes in Equity 12

Company Statement of Changes in Equity 13

Consolidated Cash Flow Statement 14

Notes to the Consolidated Financial Statements 15


Ark Property & Investments Ltd

Company Information
for the Year Ended 31 August 2024







DIRECTORS: Mrs R L Marks
Mrs K R Glover
Mr J C Webb





REGISTERED OFFICE: 140 Bay View Road
Northam
Bideford
Devon
EX39 1BJ





REGISTERED NUMBER: 07921852 (England and Wales)





AUDITORS: Metherell Gard Ltd
Chartered Accountants
Burn View
Bude
Cornwall
EX23 8BX

Ark Property & Investments Ltd (Registered number: 07921852)

Group Strategic Report
for the Year Ended 31 August 2024


The directors present their strategic report of the company and the group for the year ended 31 August 2024.

FAIR REVIEW OF THE BUSINESS
The board are pleased with the performance in the year, in view of the current economic climate and the constraints of local authorities constantly questioning fee levels, this coupled with the investment that has been implemented across all of our homes and our latest home, the performance this year was expected.

PRINCIPAL RISKS AND UNCERTAINTIES
The care sector continues to face challenges impacting income streams, operating costs, and the availability of staff. While we still use agency staff where necessary to maintain high-quality care, this reliance has reduced as we recruit and retain our own workforce. We have continued to invest in our buildings through repairs and capital expenditures to ensure our homes remain safe, functional, and welcoming for residents, however these projects are coming to an end in the next quarter.

Recent managerial changes have impacted our occupancy levels and contributed to higher staffing costs however going forward these effects will not be felt. Despite these challenges, the Company remains committed to delivering a high standard of care and operational excellence with the updated management teams.

OBJECTIVE AND POLICIES
Ark continues to develop its working practices and governance to ensure our services meet the Care Quality Commission (CQC) standards. Internal quality assurance monitoring accurately reflects the CQC inspection standards, and we remain fully committed to maintaining this high level of care. Our extensive refurbishment projects are coming to an end, with a clear focus on enhancing the environment for both residents and staff.

Looking forward, the Company is prioritising cost-saving exercises where possible to ensure long-term sustainability and continued service delivery in an increasingly competitive market alongside reduction in agency usage.

FINANCIAL RISKS
Price risk - The group is exposed to price risk as a result of its operations. Increases in costs cannot easily be offset by increases in tariffs. Instead, operational efficiencies have been identified to maintain profitability and occupancy levels are constantly monitored.

Credit risk - A large proportion of the groups customers are in the public sector; however for the private sector the group has implemented policies that require appropriate credit checks before contracts are entered. The credit given to customers is subject to limits which are determined and reassessed by the directors.

Liquidity risk - The group ensures that it has sufficient available funds for operations and planned expansions.

Cash Flow risk - The group maintains adequate cash balances to ensure that there are no cash flow issues.

KEY PERFORMANCE INDICATORS
The profit (2023 loss) before tax for the year was £60,659 (2023: £60,218) and occupancy of beds across care homes was 90.2% (2023:89.8%).

ENVIRONMENTAL AND SOCIAL MATTERS
Information about environmental matters, the companies employees, social community and human rights issues have not been provided as the directors do not believe this is material to gain an understanding of the business.

ON BEHALF OF THE BOARD:





Mrs R L Marks - Director


28 April 2025

Ark Property & Investments Ltd (Registered number: 07921852)

Report of the Directors
for the Year Ended 31 August 2024


The directors present their report with the financial statements of the company and the group for the year ended 31 August 2024.

PRINCIPAL ACTIVITIES
The principal activities of the group continued to be that of investment property rental, provision of residential care services and a nursing agency.

DIVIDENDS
No dividends will be distributed for the year ended 31 August 2024.

DIRECTORS
The directors shown below have held office during the whole of the period from 1 September 2023 to the date of this report.

Mrs R L Marks
Mrs K R Glover
Mr J C Webb

DISABLED WORKERS
In line with our recruitment policy, we interview and onboard individuals with the appropriate competences for a role. If the new recruit was a person with a disability, we would work with the individual to establish what reasonable adjustments may need to be made in order for them to reach their full potential whilst working for the Group.

We as an employer are also aware that life can be hard and individuals in our employment can become disabled at some point throughout their journey with us. We would consider reasonable adjustments such as shift changes, adaptation of computer systems such as voice activation, and structural changes to our premises if required amongst others. This would all be undertaken with full involvement of the employee in question.

In line with our Equal Opportunities Policy, the Group is committed to creating an environment in which differences are recognised and valued. Everyone is entitled to work within an environment that promotes dignity and respect to all.

ENGAGEMENT WITH EMPLOYEES
The directors are committed to engaging with our employees throughout the company on subjects that affect them and providing updates on the wider market as well as the business. This is done by different methods: we use anonymous online platforms, site visits, face to face meetings, staff committee meetings and written updates to ensure updates are provided throughout the year. The directors believe this is a beneficial way of staying in touch with our employees through this variety of methods and through a variety of people in the business as opposed to one person.

STATEMENT OF DIRECTORS' RESPONSIBILITIES
The directors are responsible for preparing the Group Strategic Report, the Report of the Directors and the financial statements in accordance with applicable law and regulations.

Company law requires the directors to prepare financial statements for each financial year. Under that law the directors have elected to prepare the financial statements in accordance with United Kingdom Generally Accepted Accounting Practice (United Kingdom Accounting Standards and applicable law). Under company law the directors must not approve the financial statements unless they are satisfied that they give a true and fair view of the state of affairs of the company and the group and of the profit or loss of the group for that period. In preparing these financial statements, the directors are required to:

- select suitable accounting policies and then apply them consistently;
- make judgements and accounting estimates that are reasonable and prudent;
- prepare the financial statements on the going concern basis unless it is inappropriate to presume that the company will continue in business.

The directors are responsible for keeping adequate accounting records that are sufficient to show and explain the company's and the group's transactions and disclose with reasonable accuracy at any time the financial position of the company and the group and enable them to ensure that the financial statements comply with the Companies Act 2006. They are also responsible for safeguarding the assets of the company and the group and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.

Strategic report
The group has chosen in accordance with Companies Act 2006, s.414C(11) to set out in the group's strategic report information required by Large and Medium-sized Companies and Groups (Accounts and Reports) Regulations 2008 Sch. 7 to be contained in the directors' report. It has done so in respect of the 'Review of Business' and Development and Performance' of the group during the year.

Ark Property & Investments Ltd (Registered number: 07921852)

Report of the Directors
for the Year Ended 31 August 2024


STATEMENT AS TO DISCLOSURE OF INFORMATION TO AUDITORS
So far as the directors are aware, there is no relevant audit information (as defined by Section 418 of the Companies Act 2006) of which the group's auditors are unaware, and each director has taken all the steps that he or she ought to have taken as a director in order to make himself or herself aware of any relevant audit information and to establish that the group's auditors are aware of that information.

ON BEHALF OF THE BOARD:





Mrs R L Marks - Director


28 April 2025

Report of the Independent Auditors to the Members of
Ark Property & Investments Ltd


Opinion
We have audited the financial statements of Ark Property & Investments Ltd (the 'parent company') and its subsidiaries (the 'group') for the year ended 31 August 2024 which comprise the Consolidated Income Statement, Consolidated Other Comprehensive Income, Consolidated Balance Sheet, Company Balance Sheet, Consolidated Statement of Changes in Equity, Company Statement of Changes in Equity, Consolidated Cash Flow Statement and Notes to the Financial Statements, including a summary of significant accounting policies. The financial reporting framework that has been applied in their preparation is applicable law and United Kingdom Accounting Standards, including Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' (United Kingdom Generally Accepted Accounting Practice).

In our opinion the financial statements:
-give a true and fair view of the state of the group's and of the parent company affairs as at 31 August 2024 and of the group's loss for the year then ended;
-have been properly prepared in accordance with United Kingdom Generally Accepted Accounting Practice; and
-have been prepared in accordance with the requirements of the Companies Act 2006.

Basis for opinion
We conducted our audit in accordance with International Standards on Auditing (UK) (ISAs (UK)) and applicable law. Our responsibilities under those standards are further described in the Auditors' responsibilities for the audit of the financial statements section of our report. We are independent of the group in accordance with the ethical requirements that are relevant to our audit of the financial statements in the UK, including the FRC's Ethical Standard, and we have fulfilled our other ethical responsibilities in accordance with these requirements. We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our opinion.

Conclusions relating to going concern
In auditing the financial statements, we have concluded that the directors' use of the going concern basis of accounting in the preparation of the financial statements is appropriate.

Based on the work we have performed, we have not identified any material uncertainties relating to events or conditions that, individually or collectively, may cast significant doubt on the group's and the parent company's ability to continue as a going concern for a period of at least twelve months from when the financial statements are authorised for issue.

Our responsibilities and the responsibilities of the directors with respect to going concern are described in the relevant sections of this report.

Other information
The directors are responsible for the other information. The other information comprises the information in the Group Strategic Report and the Report of the Directors, but does not include the financial statements and our Report of the Auditors thereon.

Our opinion on the financial statements does not cover the other information and, except to the extent otherwise explicitly stated in our report, we do not express any form of assurance conclusion thereon.

In connection with our audit of the financial statements, our responsibility is to read the other information and, in doing so, consider whether the other information is materially inconsistent with the financial statements or our knowledge obtained in the audit or otherwise appears to be materially misstated. If we identify such material inconsistencies or apparent material misstatements, we are required to determine whether this gives rise to a material misstatement in the financial statements themselves. If, based on the work we have performed, we conclude that there is a material misstatement of this other information, we are required to report that fact. We have nothing to report in this regard.

Opinions on other matters prescribed by the Companies Act 2006
In our opinion, based on the work undertaken in the course of the audit:
- the information given in the Group Strategic Report and the Report of the Directors for the financial year for which the financial statements are prepared is consistent with the financial statements; and
- the Group Strategic Report and the Report of the Directors have been prepared in accordance with applicable legal requirements.

Report of the Independent Auditors to the Members of
Ark Property & Investments Ltd


Matters on which we are required to report by exception
In the light of the knowledge and understanding of the group and the parent company and its environment obtained in the course of the audit, we have not identified material misstatements in the Group Strategic Report or the Report of the Directors.

We have nothing to report in respect of the following matters where the Companies Act 2006 requires us to report to you if, in our opinion:
- adequate accounting records have not been kept by the parent company, or returns adequate for our audit have not been received from branches not visited by us; or
- the parent company financial statements are not in agreement with the accounting records and returns; or
- certain disclosures of directors' remuneration specified by law are not made; or
- we have not received all the information and explanations we require for our audit.

Responsibilities of directors
As explained more fully in the Statement of Directors' Responsibilities set out on page three, the directors are responsible for the preparation of the financial statements and for being satisfied that they give a true and fair view, and for such internal control as the directors determine necessary to enable the preparation of financial statements that are free from material misstatement, whether due to fraud or error.

In preparing the financial statements, the directors are responsible for assessing the group's and the parent company's ability to continue as a going concern, disclosing, as applicable, matters related to going concern and using the going concern basis of accounting unless the directors either intend to liquidate the group or the parent company or to cease operations, or have no realistic alternative but to do so.

Auditors' responsibilities for the audit of the financial statements
Our objectives are to obtain reasonable assurance about whether the financial statements as a whole are free from material misstatement, whether due to fraud or error, and to issue a Report of the Auditors that includes our opinion. Reasonable assurance is a high level of assurance, but is not a guarantee that an audit conducted in accordance with ISAs (UK) will always detect a material misstatement when it exists. Misstatements can arise from fraud or error and are considered material if, individually or in the aggregate, they could reasonably be expected to influence the economic decisions of users taken on the basis of these financial statements.

Extent to which the audit was considered capable of detecting irregularities, including fraud
Irregularities, including fraud, are instances of non-compliance with laws and regulations. We design procedures in line with our responsibilities, outlined above and on the Financial Reporting Council's website, to detect material misstatements in respect of irregularities, including fraud. The extent to which our procedures are capable of detecting irregularities, including fraud is detailed below:

Because of the inherent limitations of an audit, there is a risk that we will not detect all irregularities, including those leading to a material misstatement in the financial statements or non-compliance with regulation. This risk increases the more that compliance with a law or regulation is removed from the events and transactions reflected in the financial statements, as we will be less likely to become aware of instances of non-compliance. The risk of not detecting a material misstatement resulting from fraud is higher than for one resulting from error, as fraud may involve collusion, forgery, intentional omissions, misrepresentations, or the override of internal control.

As part of our audit planning, we obtained an understanding of the legal and regulatory framework that is applicable to the entity. We gained an understanding of the entity and the industry in which the entity operates as part of this assessment to identify the key laws and regulations affecting the entity. We also considered those laws and regulations that have a direct impact on the preparation of the financial statements, primarily the companies Act 2006.

We discussed with management and those charged with governance around how the compliance with these laws and regulations is monitored and discussed policies and procedures in place. As part of our planning procedures, we assessed the risk of any non-compliance with laws and regulations on the entity's ability to continue trading and the risk of material misstatement to the accounts.

We also evaluated management's incentives and opportunities for fraudulent manipulation of the financial statements. Management bias was also reviewed in regard to accounting estimates and judgemental areas which have a direct impact on the entity's profits.

Report of the Independent Auditors to the Members of
Ark Property & Investments Ltd

Based on this understanding we designed our audit procedures of any non-compliance with such laws and regulations. Our procedures involved the following:

- Enquires of management regarding their knowledge of any non-compliance with laws and regulations that could affect the financial statements. As part of these enquiries we also discussed with management whether there have been any known instances of fraud;

- Understanding of management's internal controls designed to prevent and detect irregularities, and fraud;

- Designing audit procedures to incorporate unpredictability around the nature, timing or extent of our testing of income and expenses in regard to cut-off and valuation;

- Auditing the risk of management override of controls, including through testing journal entries and other adjustments
for appropriateness, and evaluating the business rationale of significant transactions outside the normal course of
business;

- Reviewing estimates and judgements made in the accounts for any indication of bias and challenged assumptions
used by management in making the estimates.

A further description of our responsibilities for the audit of the financial statements is located on the Financial Reporting Council's website at www.frc.org.uk/auditorsresponsibilities. This description forms part of our Report of the Auditors.

Use of our report
This report is made solely to the company's members, as a body, in accordance with Chapter 3 of Part 16 of the Companies Act 2006. Our audit work has been undertaken so that we might state to the company's members those matters we are required to state to them in a Report of the Auditors and for no other purpose. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than the company and the company's members as a body, for our audit work, for this report, or for the opinions we have formed.




David Nigel Cox (Senior Statutory Auditor)
for and on behalf of Metherell Gard Ltd
Chartered Accountants
Burn View
Bude
Cornwall
EX23 8BX

7 May 2025

Ark Property & Investments Ltd (Registered number: 07921852)

Consolidated
Income Statement
for the Year Ended 31 August 2024

2024 2023
Notes £    £    £   

TURNOVER 3 8,638,150 8,130,782

Cost of sales 6,667,510 6,237,936
GROSS PROFIT 1,970,640 1,892,846

Distribution costs 240 316
Administrative expenses 1,944,148 1,815,608
1,944,388 1,815,924
26,252 76,922

Other operating income 4 7,816 8,431
OPERATING PROFIT 6 34,068 85,353

Interest receivable and similar income 8 26,591 2,446
60,659 87,799
Gain/loss on revaluation of investment
property

-

(148,000

)
60,659 (60,201 )

Interest payable and similar expenses 9 - 17
PROFIT/(LOSS) BEFORE TAXATION 60,659 (60,218 )

Tax on profit/(loss) 10 73,499 2,006
LOSS FOR THE FINANCIAL YEAR (12,840 ) (62,224 )
Loss attributable to:
Owners of the parent (12,840 ) (62,224 )

Ark Property & Investments Ltd (Registered number: 07921852)

Consolidated
Other Comprehensive Income
for the Year Ended 31 August 2024

2024 2023
Notes £    £   

LOSS FOR THE YEAR (12,840 ) (62,224 )


OTHER COMPREHENSIVE INCOME - -
TOTAL COMPREHENSIVE INCOME FOR
THE YEAR

(12,840

)

(62,224

)

Total comprehensive income attributable to:
Owners of the parent (12,840 ) (62,224 )

Ark Property & Investments Ltd (Registered number: 07921852)

Consolidated Balance Sheet
31 August 2024

2024 2023
Notes £    £    £   
FIXED ASSETS
Intangible assets 12 831,496 949,773
Tangible assets 13 4,587,729 4,593,690
Investments 14 - -
Investment property 15 1,950,000 1,950,000
7,369,225 7,493,463

CURRENT ASSETS
Debtors 16 573,626 498,812
Cash at bank and in hand 1,262,091 1,375,581
1,835,717 1,874,393
CREDITORS
Amounts falling due within one year 17 913,638 1,106,112
NET CURRENT ASSETS 922,079 768,281
TOTAL ASSETS LESS CURRENT
LIABILITIES

8,291,304

8,261,744

PROVISIONS FOR LIABILITIES 18 149,997 107,597
NET ASSETS 8,141,307 8,154,147

CAPITAL AND RESERVES
Called up share capital 19 3 3
Other reserves 20 493,795 493,795
Retained earnings 20 7,647,509 7,660,349
SHAREHOLDERS' FUNDS 8,141,307 8,154,147

The financial statements were approved by the Board of Directors and authorised for issue on 28 April 2025 and were signed on its behalf by:




Mrs R L Marks - Director



Mrs K R Glover - Director


Ark Property & Investments Ltd (Registered number: 07921852)

Company Balance Sheet
31 August 2024

2024 2023
Notes £    £    £   
FIXED ASSETS
Intangible assets 12 - -
Tangible assets 13 4,191,240 4,294,517
Investments 14 102 102
Investment property 15 1,950,000 1,950,000
6,141,342 6,244,619

CURRENT ASSETS
Debtors 16 1,074,426 989,981
Cash at bank 171,783 58,871
1,246,209 1,048,852
CREDITORS
Amounts falling due within one year 17 3,317,699 3,384,376
NET CURRENT LIABILITIES (2,071,490 ) (2,335,524 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

4,069,852

3,909,095

PROVISIONS FOR LIABILITIES 18 104,897 106,397
NET ASSETS 3,964,955 3,802,698

CAPITAL AND RESERVES
Called up share capital 19 3 3
Other reserves 20 493,795 493,795
Retained earnings 20 3,471,157 3,308,900
SHAREHOLDERS' FUNDS 3,964,955 3,802,698

Company's profit for the financial year 162,257 74,622

The financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies regime.

The financial statements were approved by the Board of Directors and authorised for issue on 28 April 2025 and were signed on its behalf by:




Mrs R L Marks - Director



Mrs K R Glover - Director


Ark Property & Investments Ltd (Registered number: 07921852)

Consolidated Statement of Changes in Equity
for the Year Ended 31 August 2024

Called up
share Retained Other Total
capital earnings reserves equity
£    £    £    £   
Balance at 1 September 2022 3 7,658,224 558,144 8,216,371
Deficit for the year - (62,224 ) - (62,224 )
Total comprehensive income - (62,224 ) - (62,224 )
Fair value gains on investment
properties

-

148,000

(148,000

)

-
Deferred tax movement - (83,651 ) 83,651 -
Total transactions with owners,
recognised directly in equity

-

64,349

(64,349

)

-
Balance at 31 August 2023 3 7,660,349 493,795 8,154,147
Deficit for the year - (12,840 ) - (12,840 )
Total comprehensive income - (12,840 ) - (12,840 )
Total transactions with owners,
recognised directly in equity

-

-

-

-
Balance at 31 August 2024 3 7,647,509 493,795 8,141,307

Ark Property & Investments Ltd (Registered number: 07921852)

Company Statement of Changes in Equity
for the Year Ended 31 August 2024

Called up
share Retained Other Total
capital earnings reserves equity
£    £    £    £   
Balance at 1 September 2022 3 3,169,929 558,144 3,728,076

Changes in equity
Total comprehensive income - 74,622 - 74,622
Fair value gains on investment
properties

-

148,000

(148,000

)

-
Deferred tax movement - (83,651 ) 83,651 -
Balance at 31 August 2023 3 3,308,900 493,795 3,802,698

Changes in equity
Total comprehensive income - 162,257 - 162,257
Balance at 31 August 2024 3 3,471,157 493,795 3,964,955

Ark Property & Investments Ltd (Registered number: 07921852)

Consolidated Cash Flow Statement
for the Year Ended 31 August 2024

2024 2023
Notes £    £   
Cash flows from operating activities
Cash generated from operations 23 234,177 561,350
Interest paid - (17 )
Tax paid (106,944 ) (90,807 )
Net cash from operating activities 127,233 470,526

Cash flows from investing activities
Purchase of intangible fixed assets - (762,765 )
Purchase of tangible fixed assets (168,682 ) (956,832 )
Sale of tangible fixed assets 29,999 -
Interest received 26,591 2,446
Net cash from investing activities (112,092 ) (1,717,151 )

Cash flows from financing activities
Amount withdrawn by directors (128,631 ) 5,784
Net cash from financing activities (128,631 ) 5,784

Decrease in cash and cash equivalents (113,490 ) (1,240,841 )
Cash and cash equivalents at beginning
of year

24

1,375,581

2,616,422

Cash and cash equivalents at end of year 24 1,262,091 1,375,581

Ark Property & Investments Ltd (Registered number: 07921852)

Notes to the Consolidated Financial Statements
for the Year Ended 31 August 2024


1. STATUTORY INFORMATION

Ark Property & Investments Ltd 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 General Information page.

2. ACCOUNTING POLICIES

Accounting convention
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" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention as modified by the revaluation of certain assets.

The financial statements are prepared in sterling, which is the functional currency of the company. Monetary amounts in these financial statements are rounded to the nearest £.

Financial Reporting Standard 102 - reduced disclosure exemptions
This company is a qualifying entity for the purposes of FRS 102, being a member of a group where the parent of that group prepares publicly available consolidated financial statements, including this company, which are intended to give a true and fair view of the assets, liabilities, financial position and profit or loss of the group. The company has therefore taken advantage of exemptions from the following disclosure requirements:

- Section 4 'Statement of Financial Position': Reconciliation of the opening and closing number of shares;
- Section 7 'Statement of Cash Flows': Presentation of a statement of cash flow and related notes and disclosures;
- Section 11 'Basic Financial Instruments' and Section 12 'Other Financial Instrument Issues': Carrying amounts, interest income/expense and net gains/losses for each category of financial instrument; basis of determining fair values; details of collateral, loan defaults or breaches, details of hedges, hedging fair value changes recognised in profit or loss and in other comprehensive income;
- Section 26 'Share based Payment': Share-based payment expense charged to profit or loss, reconciliation of opening and closing number and weighted average exercise price of share options, how the fair value of options granted was measured, measurement and carrying amount of liabilities for cash-settled share-based payments, explanation of modifications to arrangements;
- Section 33 'Related Party Disclosures': Compensation for key management personnel.

Basis of consolidation
The consolidated group financial statements consist of the financial statements of the parent company Ark Property & Investments Ltd together with all entities controlled by the parent company (its subsidiaries) and the group's share of its interests in joint ventures and associates.

All financial statements are made up to 31 August 2024. Where necessary, adjustments are made to the financial statements of subsidiaries to bring the accounting policies used into line with those used by other members of the group.

All intra-group transactions, balances and unrealised gains on transactions between group companies are eliminated on consolidation. Unrealised losses are also eliminated unless the transaction provides evidence of an impairment of the asset transferred.

Going concern
At the time of approving the financial statements, the directors have a reasonable expectation that the company has adequate resources to continue in operational existence for the foreseeable future. Accordingly, the directors continue to adopt the going concern basis of accounting in preparing the financial statements.

Turnover
Turnover is recognised at the fair value of the consideration received or receivable for goods and services provided in the normal course of business, and is shown net of VAT and other sales related taxes. The fair value of consideration takes into account trade discounts, settlement discounts and volume rebates.

Revenue from contracts for the provision of professional services is recognised as the services are performed.

Intangible fixed assets - goodwill
Goodwill represents the excess of the cost of acquisition of a business over the fair value of net assets acquired. It is initially recognised as an asset at cost and is subsequently measured at cost less accumulated amortisation and accumulated impairment losses. Goodwill is considered to have a finite useful life and is amortised on a systematic basis over its expected life, which is 10 years.

Ark Property & Investments Ltd (Registered number: 07921852)

Notes to the Consolidated Financial Statements - continued
for the Year Ended 31 August 2024


2. ACCOUNTING POLICIES - continued

Tangible fixed assets
Tangible fixed assets are initially measured at cost and subsequently measured at cost, net of depreciation and any impairment losses.

Depreciation is recognised so as to write off the cost or valuation of assets less their residual values over their useful lives on the following basis:

Freehold property2% straight line
Leasehold improvementsStraight line over 50 years
Plant and equipment 15% reducing balance
Fixtures and fittings25% straight line and 15% reducing balance
Motor vehicles25% straight line

The gain or loss arising on the disposal of an asset is determined as the difference between the sale proceeds and the carrying value of the asset, and is credited or charged to profit or loss.

Investment properties
Investment property, which is property held to earn rentals and/or for capital appreciation, is initially recognised at cost, which includes the purchase cost and any directly attributable expenditure. Subsequently it is measured at fair value at the reporting end date. Changes in fair value are recognised in profit or loss net of the related tax impact.

Fixed asset investments
Equity investments are measured at fair value through profit or loss, except for those equity investments that are not publicly traded and whose fair value cannot otherwise be measured reliably, which are recognised at cost less impairment until a reliable measure of fair value becomes available.

In the parent company financial statements, investments in subsidiaries, associates and jointly controlled entities are initially measured at cost and subsequently measured at cost less any accumulated impairment losses.

A subsidiary is an entity controlled by the group. Control is the power to govern the financial and operating policies of the entity so as to obtain benefits from its activities.

Impairment of fixed assets
At each reporting period end date, the group reviews the carrying amounts of its tangible and intangible assets to determine whether there is any indication that those assets have suffered an impairment loss. If any such indication exists, the recoverable amount of the asset is estimated in order to determine the extent of the impairment loss (if any). Where it is not possible to estimate the recoverable amount of an individual asset, the company estimates the recoverable amount of the cash-generating unit to which the asset belongs.

The carrying amount of the investments accounted for using the equity method is tested for impairment as a single asset. Any goodwill included in the carrying amount of the investment is not tested separately for impairment.

Recoverable amount is the higher of fair value less costs to sell and value in use.

If the recoverable amount of an asset (or cash-generating unit) is estimated to be less than its carrying amount, the carrying amount of the asset (or cash-generating unit) is reduced to its recoverable amount. An impairment loss is recognised immediately in profit or loss, unless the relevant asset is carried at a revalued amount, in which case the impairment loss is treated as a revaluation decrease.

Recognised impairment losses are reversed if, and only if, the reasons for the impairment loss have ceased to apply. Where an impairment loss subsequently reverses, the carrying amount of the asset (or cash-generating unit) is increased to the revised estimate of its recoverable amount, but so that the increased carrying amount does not exceed the carrying amount that would have been determined had no impairment loss been recognised for the asset (or cash-generating unit) in prior years. A reversal of an impairment loss is recognised immediately in profit and loss, unless the relevant asset is carried at a revalued amount, in which case the reversal of the impairment loss is treated as a revaluation increase.
Cash at bank and in hand
Cash and cash equivalents are basic financial assets and include cash in hand, deposits held at call with banks, other short-term liquid investments with original maturities of three months or less, and bank overdrafts. Bank overdrafts are shown within borrowings in current liabilities.

Ark Property & Investments Ltd (Registered number: 07921852)

Notes to the Consolidated Financial Statements - continued
for the Year Ended 31 August 2024


2. ACCOUNTING POLICIES - continued

Financial instruments
The group has elected to apply the provisions of Section 11 'Basic Financial Instruments' and Section 12 'Other Financial Instruments Issues' of FRS 102 to all of its financial instruments.

Financial instruments are recognised in the group's balance sheet when the group becomes party to the contractual provisions of the instrument.

Financial assets and liabilities are offset and the net amounts presented in the financial statements when there is a legally enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously.

Basic financial assets
Basic financial assets, which include debtors and cash and bank balances, are initially measured at transaction price included transaction costs and are subsequently carried at amortised cost using the effective interest method unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest. Financial assets classified as receivable within one year are not amortised.

Basic financial liabilities
Basic financial liabilities, including creditors, bank loans, loans from fellow group companies and preference shares that are classified as debt, are initially recognised at transaction price unless the arrangement constitutes a financing transaction, where the debt instrument is measured at the present value of the future payments discounted at a market rate of interest. Financial liabilities classified as payable within one year are not amortised.

Debt instruments are subsequently carried at amortised cost, using the effective interest rate method.

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Amounts payable are classified as current liabilities if payment is due within one year or less. If not, they are presented as non-current liabilities.Trade creditors are recognised initially at transaction price and subsequently measured at amortised cost using the effective interest method.

Equity instruments
Equity instruments issued by the group are recorded at the proceeds received, net of transaction costs. Dividends payable on equity instruments are recognised as liabilities once they are no longer at the discretion of the group.

Taxation
The tax expense represents the sum of the tax currently payable and deferred tax.

Current tax
The tax currently payable is based on taxable profit for the year. Taxable profit differs from net profit as reported in the profit and loss account because it excludes items of income or expense that are taxable or deductible in other years and it further excludes items that are never taxable or deductible. The group's liability for current tax is calculated using tax rates that have been enacted or substantively enacted by the reporting end date.

Deferred tax
Deferred tax liabilities are generally recognised for all timing differences and deferred tax assets are recognised to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits. Such assets and liabilities are not recognised if the timing difference arises from goodwill or from the initial recognition of other assets and liabilities in a transaction that affects neither the tax profit nor the accounting profit.
The carrying amount of deferred tax assets is reviewed at each reporting end date and reduced to the extent that it is no longer probable that sufficient taxable profits will be available to allow all or part of the asset to be recovered. Deferred tax is calculated at the tax rates that are expected to apply in the period when the liability is settled or the asset is realised. Deferred tax is charged or credited in the profit and loss account, except when it relates to items charged or credited directly to equity, in which case the deferred tax is also dealt with in equity. Deferred tax assets and liabilities are offset when the company has a legally enforceable right to offset current tax assets and liabilities and the deferred tax assets and liabilities relate to taxes levied by the same tax authority.

Ark Property & Investments Ltd (Registered number: 07921852)

Notes to the Consolidated Financial Statements - continued
for the Year Ended 31 August 2024


2. ACCOUNTING POLICIES - continued

Leases
Rentals payable under operating leases, including any lease incentives received, are charged to profit or loss on a straight line basis over the term of the relevant lease except where another more systematic basis is more representative of the time pattern in which economic benefits from the leased asset are consumed.

Rental income from operating leases is recognised on a straight line basis over the term of the relevant lease. Initial direct costs incurred in negotiating and arranging an operating lease are added to the carrying amount of the leased asset and recognised on a straight line basis over the lease term.

Employee benefits
The costs of short-term employee benefits are recognised as a liability and an expense, unless those costs are required to be recognised as part of the cost of stock or fixed assets.

The cost of any unused holiday entitlement is recognised in the period in which the employee's services are received.

Termination benefits are recognised immediately as an expense when the company is demonstrably committed to terminate the employment of an employee or to provide termination benefits.

Retirement benefits
Payments to defined contribution retirement benefit schemes are charged as an expense as they fall due.

Government grants
Government grants are recognised at the fair value of the asset received or receivable when there is reasonable assurance that the grant conditions will be met and the grants will be received.

A grant that specifies performance conditions is recognised in income when the performance conditions are met. Where a grant does not specify performance conditions it is recognised in income when the proceeds are received or receivable. A grant received before the recognition criteria are satisfied is recognised as a liability.

Provisions
Provisions are recognised when the company has a legal or constructive present obligation as a result of a past event, it is probable that the company will be required to settle that obligation and a reliable estimate can be made of the amount of the obligation.

The amount recognised as a provision is the best estimate of the consideration required to settle the present obligation at the reporting end date, taking into account the risks and uncertainties surrounding the obligation. Where the effect of the time value of money is material, the amount expected to be required to settle the obligation is recognised at present value. When a provision is measured at present value, the unwinding of the discount is recognised as a finance cost in profit or loss in the period in which it arises.

Judgements and key sources of estimation uncertainty
In the application of the group's accounting policies, the directors are required to make judgements, estimates and assumptions about the carrying amount of assets and liabilities that are not readily apparent from other sources. The estimates and associated assumptions are based on historical experience and other factors that are considered to be relevant. Actual results may differ from these estimates.

The estimates and underlying assumptions are reviewed on an ongoing basis. Revisions to accounting estimates are recognised in the period in which the estimate is revised where the revision affects only that period, or in the period of the revision and future periods where the revision affects both current and future periods.

Ark Property & Investments Ltd (Registered number: 07921852)

Notes to the Consolidated Financial Statements - continued
for the Year Ended 31 August 2024


3. TURNOVER

The turnover and profit (2023 - loss) before taxation are attributable to the principal activities of the group.

An analysis of turnover by class of business is given below:

2024 2023
£    £   
Agency income 909,822 1,022,605
Rent 67,055 61,796
Care fees 7,661,273 7,046,381
8,638,150 8,130,782

An analysis of turnover by geographical market is given below:

2024 2023
£    £   
South West England 8,638,150 8,130,782
8,638,150 8,130,782

4. OTHER OPERATING INCOME
2024 2023
£    £   
Sundry income 7,794 8,364
Other interest 22 67
7,816 8,431

5. EMPLOYEES AND DIRECTORS
2024 2023
£    £   
Wages and salaries 5,703,192 5,303,089
Social security costs 460,958 402,608
Other pension costs 90,057 77,424
6,254,207 5,783,121

The average number of employees during the year was as follows:
2024 2023

Average number of employees 272 275

2024 2023
£    £   
Directors' remuneration 124,654 119,824

The number of directors to whom retirement benefits were accruing was as follows:

Money purchase schemes 2 2

Ark Property & Investments Ltd (Registered number: 07921852)

Notes to the Consolidated Financial Statements - continued
for the Year Ended 31 August 2024


6. OPERATING PROFIT/(LOSS)

The operating profit (2023 - operating loss) is stated after charging:

2024 2023
£    £   
Other operating leases 67,181 67,159
Depreciation - owned assets 175,702 144,491
Loss on disposal of fixed assets 861 4,781
Goodwill amortisation 118,277 106,992

7. AUDITORS' REMUNERATION
2024 2023
£    £   
Fees payable to the company's auditors for the audit of the company's
financial statements

5,088

4,800
Audit of the financial statements of the company's subsidiaries 20,352 19,200

8. INTEREST RECEIVABLE AND SIMILAR INCOME
2024 2023
£    £   
Bank interest received 26,591 2,446

9. INTEREST PAYABLE AND SIMILAR EXPENSES
2024 2023
£    £   
Interest paid - 17

10. TAXATION

Analysis of the tax charge
The tax charge on the profit for the year was as follows:
2024 2023
£    £   
Current tax:
UK corporation tax - 102,500
Over/under provision in
earlier periods 4,499 (4,802 )
Total current tax 4,499 97,698

Deferred tax 69,000 (95,692 )
Tax on profit/(loss) 73,499 2,006

UK corporation tax has been charged at 25 % .

Ark Property & Investments Ltd (Registered number: 07921852)

Notes to the Consolidated Financial Statements - continued
for the Year Ended 31 August 2024


10. TAXATION - continued

Reconciliation of total tax charge included in profit and loss
The tax assessed for the year is higher than the standard rate of corporation tax in the UK. The difference is explained below:

2024 2023
£    £   
Profit/(loss) before tax 60,659 (60,218 )
Profit/(loss) multiplied by the standard rate of corporation tax in the UK of
25 % (2023 - 21.500 %)

15,165

(12,947

)

Effects of:
Expenses not deductible for tax purposes 1,247 -
Depreciation in excess of capital allowances 38,114 51,778
Utilisation of tax losses (54,526 ) -
Adjustments to tax charge in respect of previous periods 5,200 (4,891 )

Deferred tax 69,000 (95,692 )
Adjustment for current year provision (701 ) 730
Losses not group relieved - 63,028
Total tax charge 73,499 2,006

11. INDIVIDUAL INCOME STATEMENT

As permitted by Section 408 of the Companies Act 2006, the Income Statement of the parent company is not presented as part of these financial statements.


12. INTANGIBLE FIXED ASSETS

Group
Goodwill
£   
COST
At 1 September 2023
and 31 August 2024 1,557,765
AMORTISATION
At 1 September 2023 607,992
Amortisation for year 118,277
At 31 August 2024 726,269
NET BOOK VALUE
At 31 August 2024 831,496
At 31 August 2023 949,773

Ark Property & Investments Ltd (Registered number: 07921852)

Notes to the Consolidated Financial Statements - continued
for the Year Ended 31 August 2024


13. TANGIBLE FIXED ASSETS

Group
Freehold Long Plant and
property leasehold machinery
£    £    £   
COST
At 1 September 2023 4,907,037 86,186 178,403
Additions 612 - 93,770
Disposals - - -
At 31 August 2024 4,907,649 86,186 272,173
DEPRECIATION
At 1 September 2023 650,996 2,455 59,758
Charge for year 98,118 1,707 30,941
Eliminated on disposal - - -
At 31 August 2024 749,114 4,162 90,699
NET BOOK VALUE
At 31 August 2024 4,158,535 82,024 181,474
At 31 August 2023 4,256,041 83,731 118,645

Fixtures
and Motor
fittings vehicles Totals
£    £    £   
COST
At 1 September 2023 419,482 196,558 5,787,666
Additions 24,219 82,000 200,601
Disposals - (66,948 ) (66,948 )
At 31 August 2024 443,701 211,610 5,921,319
DEPRECIATION
At 1 September 2023 340,518 140,249 1,193,976
Charge for year 13,758 31,178 175,702
Eliminated on disposal - (36,088 ) (36,088 )
At 31 August 2024 354,276 135,339 1,333,590
NET BOOK VALUE
At 31 August 2024 89,425 76,271 4,587,729
At 31 August 2023 78,964 56,309 4,593,690

Ark Property & Investments Ltd (Registered number: 07921852)

Notes to the Consolidated Financial Statements - continued
for the Year Ended 31 August 2024


13. TANGIBLE FIXED ASSETS - continued

Company
Fixtures
Freehold and
property fittings Totals
£    £    £   
COST
At 1 September 2023 4,907,037 218,494 5,125,531
Additions 612 - 612
At 31 August 2024 4,907,649 218,494 5,126,143
DEPRECIATION
At 1 September 2023 650,997 180,017 831,014
Charge for year 98,118 5,771 103,889
At 31 August 2024 749,115 185,788 934,903
NET BOOK VALUE
At 31 August 2024 4,158,534 32,706 4,191,240
At 31 August 2023 4,256,040 38,477 4,294,517

14. FIXED ASSET INVESTMENTS

Company
Other
investments
£   
COST
At 1 September 2023
and 31 August 2024 102
NET BOOK VALUE
At 31 August 2024 102
At 31 August 2023 102


The group or the company's investments at the Balance Sheet date in the share capital of companies include the following:

Subsidiaries

Ark Care Homes Limited
Registered office: England and Wales
Nature of business: Care home
%
Class of shares: holding
Ordinary 100.00

Ark Nursing & Care Agency Limited
Registered office: England and Wales
Nature of business: Nursing and Care Agency services
%
Class of shares: holding
Ordinary 100.00

Ark Property & Investments Ltd (Registered number: 07921852)

Notes to the Consolidated Financial Statements - continued
for the Year Ended 31 August 2024


14. FIXED ASSET INVESTMENTS - continued

Company

Southern Coast Care Ltd
Registered office: England and Wales
Nature of business: Care home
%
Class of shares: holding
Ordinary 100.00


15. INVESTMENT PROPERTY

Group
Total
£   
FAIR VALUE
At 1 September 2023
and 31 August 2024 1,950,000
NET BOOK VALUE
At 31 August 2024 1,950,000
At 31 August 2023 1,950,000

Fair value at 31 August 2024 is represented by:
£   
Valuation in 2024 1,950,000

If investment property had not been revalued it would have been included at the following historical cost:

2024 2023
£    £   
Cost 1,353,808 1,353,808

The investment property was valued on an open market basis on 27 September 2023 by AHN Chartered Surveyors .

Company
Total
£   
FAIR VALUE
At 1 September 2023
and 31 August 2024 1,950,000
NET BOOK VALUE
At 31 August 2024 1,950,000
At 31 August 2023 1,950,000

Fair value at 31 August 2024 is represented by:
£   
Valuation in 2024 1,950,000

Ark Property & Investments Ltd (Registered number: 07921852)

Notes to the Consolidated Financial Statements - continued
for the Year Ended 31 August 2024


15. INVESTMENT PROPERTY - continued

Company

If investment property had not been revalued it would have been included at the following historical cost:

2024 2023
£    £   
Cost 1,353,808 1,353,808

The investment property was valued on an open market basis on 27 September 2023 by AHN Chartered Surveyors .

16. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

Group Company
2024 2023 2024 2023
£    £    £    £   
Trade debtors 281,701 306,887 11,656 10,218
Bad debt provision - (34,656 ) - -
Amounts owed by group undertakings - - 927,937 974,352
Other debtors 135,553 8,246 128,631 194
Deferred tax asset 38,900 65,500 - -
Prepayments and accrued income 117,472 152,835 6,202 5,217
573,626 498,812 1,074,426 989,981

The deferred tax asset arose due to the availability of tax losses within the group.

17. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

Group Company
2024 2023 2024 2023
£    £    £    £   
Trade creditors 162,200 191,924 774 556
Amounts owed to group undertakings - - 3,295,786 3,295,186
Tax (11 ) 102,433 - 68,963
Social security and other taxes 163,578 143,629 - -
Other creditors 334,749 377,022 - 340
Deferred income 131,578 132,339 8,379 7,171
Accrued expenses 121,544 158,765 12,760 12,160
913,638 1,106,112 3,317,699 3,384,376

Ark Property & Investments Ltd (Registered number: 07921852)

Notes to the Consolidated Financial Statements - continued
for the Year Ended 31 August 2024


18. PROVISIONS FOR LIABILITIES

Deferred taxation

The following are the major deferred tax liabilities and assets recognised by the group and company, and movements thereon:

Group Liabilities Liabilities Assets Assets
2024 2023 2024 2023
£ £ £ £
Accelerated capital allowances 47,600 33,300 840 1,000
Tax losses (19,259 ) (47,359 ) 38,060 64,500
Revaluations 121,656 121,656 - -
149,997 107,597 38,900 65,500



Company Liabilities Liabilities Assets Assets
2024 2023 2024 2023
£ £ £ £
Accelerated capital allowances 2,500 4,000 - -
Revaluations 121,656 121.656 - -
Tax losses (19,259 ) (19,259 ) - -
104,897 106,397 - -

Movements in the year: Group Company
£ £
Liability at 1 September 2023 42,097 106,397
Debit/(Credit) to Income Statement during year 69,000 (1,500 )
Balance at 31 August 2024 111,097 104,897

19. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 2024 2023
value: £    £   
3 Ordinary £1 3 3

20. RESERVES

Group
Retained Other
earnings reserves Totals
£    £    £   

At 1 September 2023 7,660,349 493,795 8,154,144
Deficit for the year (12,840 ) (12,840 )
At 31 August 2024 7,647,509 493,795 8,141,304

Ark Property & Investments Ltd (Registered number: 07921852)

Notes to the Consolidated Financial Statements - continued
for the Year Ended 31 August 2024


20. RESERVES - continued

Company
Retained Other
earnings reserves Totals
£    £    £   

At 1 September 2023 3,308,900 493,795 3,802,695
Profit for the year 162,257 162,257
At 31 August 2024 3,471,157 493,795 3,964,952


21. FINANCIAL COMMITMENTS, GUARANTEES AND CONTINGENT LIABILITIES

Group
At the reporting end date the group had outstanding commitments for future minimum lease payments under non-cancellable operating leases of £30,673 (2023:£28,049). There were no guarantees or contingent liabilities (2023: £Nil).

Company
At the reporting end date the company had no financial commitments, guarantees or contingent liabilities (2023: £Nil).

22. DIRECTORS' ADVANCES, CREDITS AND GUARANTEES

Advances or credits have been granted by the company to its directors as follows.

These amounts are unsecured, interest free and repayable on demand.



Description
Opening
balance
Amounts
advanced
Amounts
repaid
Closing
balance
£    £    £    £   

Mrs R L Marks - - 2,089 - 2,089
Mrs K R Glover - 83 126,542 (83 ) 126,542
83 128,631 (83 ) 128,631

The loans were repaid in October 2024.

23. RECONCILIATION OF PROFIT/(LOSS) BEFORE TAXATION TO CASH GENERATED FROM OPERATIONS

2024 2023
£    £   
Profit/(loss) before taxation 60,659 (60,218 )
Depreciation charges 293,980 251,480
Loss on disposal of fixed assets 861 4,781
Loss on revaluation of fixed assets - 148,000
Movement in provisions - (500 )
Finance costs - 17
Finance income (26,591 ) (2,446 )
328,909 341,114
Increase in trade and other debtors (4,702 ) (29,827 )
(Decrease)/increase in trade and other creditors (90,030 ) 250,063
Cash generated from operations 234,177 561,350

Ark Property & Investments Ltd (Registered number: 07921852)

Notes to the Consolidated Financial Statements - continued
for the Year Ended 31 August 2024


24. CASH AND CASH EQUIVALENTS

The amounts disclosed on the Cash Flow Statement in respect of cash and cash equivalents are in respect of these Balance Sheet amounts:

Year ended 31 August 2024
31.8.24 1.9.23
£    £   
Cash and cash equivalents 1,262,091 1,375,581
Year ended 31 August 2023
31.8.23 1.9.22
£    £   
Cash and cash equivalents 1,375,581 2,616,422


25. ANALYSIS OF CHANGES IN NET FUNDS

At 1.9.23 Cash flow At 31.8.24
£    £    £   
Net cash
Cash at bank and in hand 1,375,581 (113,490 ) 1,262,091
1,375,581 (113,490 ) 1,262,091
Total 1,375,581 (113,490 ) 1,262,091