0 false false false false false false false false false false true false false false false false false No description of principal activity 2023-10-01 Sage Accounts Production Advanced 2023 - FRS102_2023 81,860 8,140 90,000 90,000 81,860 xbrli:pure xbrli:shares iso4217:GBP SC745514 2023-10-01 2024-09-30 SC745514 2024-09-30 SC745514 2023-09-30 SC745514 2022-09-27 2023-09-30 SC745514 2023-09-30 SC745514 2022-09-26 SC745514 bus:Director2 2023-10-01 2024-09-30 SC745514 core:WithinOneYear 2024-09-30 SC745514 core:WithinOneYear 2023-09-30 SC745514 core:ShareCapital 2024-09-30 SC745514 core:ShareCapital 2023-09-30 SC745514 core:RevaluationReserve 2024-09-30 SC745514 core:RetainedEarningsAccumulatedLosses 2024-09-30 SC745514 core:RetainedEarningsAccumulatedLosses 2023-09-30 SC745514 core:LandBuildings core:OwnedOrFreeholdAssets 2024-09-30 SC745514 core:LandBuildings core:OwnedOrFreeholdAssets 2023-09-30 SC745514 core:LandBuildings core:OwnedOrFreeholdAssets 2023-09-30 SC745514 core:LandBuildings core:OwnedOrFreeholdAssets 2023-10-01 2024-09-30 SC745514 bus:SmallEntities 2023-10-01 2024-09-30 SC745514 bus:AuditExemptWithAccountantsReport 2023-10-01 2024-09-30 SC745514 bus:SmallCompaniesRegimeForAccounts 2023-10-01 2024-09-30 SC745514 bus:PrivateLimitedCompanyLtd 2023-10-01 2024-09-30 SC745514 bus:FullAccounts 2023-10-01 2024-09-30 SC745514 core:AllAssociates 2023-10-01 2024-09-30
COMPANY REGISTRATION NUMBER: SC745514
ARK Property & Investment Group Limited
Filleted Unaudited Financial Statements
30 September 2024
ARK Property & Investment Group Limited
Statement of Financial Position
30 September 2024
2024
2023
Note
£
£
Fixed assets
Tangible assets
4
90,000
81,860
Current assets
Debtors
5
6,050
150
Cash at bank and in hand
3,166
4,587
-------
-------
9,216
4,737
Creditors: amounts falling due within one year
6
86,057
84,971
--------
--------
Net current liabilities
76,841
80,234
--------
--------
Total assets less current liabilities
13,159
1,626
Provisions
2,035
--------
-------
Net assets
11,124
1,626
--------
-------
Capital and reserves
Called up share capital
200
200
Fair value reserve
8,140
Profit and loss account
2,784
1,426
--------
-------
Shareholders funds
11,124
1,626
--------
-------
These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with Section 1A of FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.
In accordance with section 444 of the Companies Act 2006, the statement of comprehensive income has not been delivered.
For the 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.
Directors' responsibilities:
- The members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476 ;
- The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements .
ARK Property & Investment Group Limited
Statement of Financial Position (continued)
30 September 2024
These financial statements were approved by the board of directors and authorised for issue on 15 May 2025 , and are signed on behalf of the board by:
Mr A Haneef
Director
Company registration number: SC745514
ARK Property & Investment Group Limited
Notes to the Financial Statements
Year ended 30 September 2024
1. General information
The company is a private company limited by shares, registered in Scotland. The address of the registered office is 41 Dundee Road West, Broughty Ferry, Dundee, DD51NB, Scotland.
2. Statement of compliance
These financial statements have been prepared in compliance with Section 1A of FRS 102, 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland'.
3. Accounting policies
Basis of preparation
The financial statements have been prepared on the historical cost basis, as modified by the revaluation of certain financial assets and liabilities and investment properties measured at fair value through profit or loss.
The financial statements are prepared in sterling, which is the functional currency of the entity.
Judgements and key sources of estimation uncertainty
The preparation of the financial statements requires management to make judgements, estimates and assumptions that affect the amounts reported. These estimates and judgements are continually reviewed and are based on experience and other factors, including expectations of future events that are believed to be reasonable under the circumstances.
Revenue recognition
Turnover is measured at the fair value of the consideration received or receivable for goods supplied and services rendered, net of discounts and Value Added Tax. Revenue from the sale of goods is recognised when the significant risks and rewards of ownership have transferred to the buyer (usually on despatch of the goods); the amount of revenue can be measured reliably; it is probable that the associated economic benefits will flow to the entity; and the costs incurred or to be incurred in respect of the transactions can be measured reliably.
Corporation tax
The taxation expense represents the aggregate amount of current and deferred tax recognised in the reporting period. Tax is recognised in profit or loss, except to the extent that it relates to items recognised in other comprehensive income or directly in equity. In this case, tax is recognised in other comprehensive income or directly in equity, respectively.
Tangible assets
Tangible assets are initially recorded at cost, and subsequently stated at cost less any accumulated depreciation and impairment losses. Any tangible assets carried at revalued amounts are recorded at the fair value at the date of revaluation less any subsequent accumulated depreciation and subsequent accumulated impairment losses. An increase in the carrying amount of an asset as a result of a revaluation, is recognised in other comprehensive income and accumulated in equity, except to the extent it reverses a revaluation decrease of the same asset previously recognised in profit or loss. A decrease in the carrying amount of an asset as a result of revaluation, is recognised in other comprehensive income to the extent of any previously recognised revaluation increase accumulated in equity in respect of that asset. Where a revaluation decrease exceeds the accumulated revaluation gains accumulated in equity in respect of that asset, the excess shall be recognised in profit or loss.
Investment property
Investment property is initially recorded at cost, which includes purchase price and any directly attributable expenditure. Investment property is revalued to its fair value at each reporting date and any changes in fair value are recognised in profit or loss. If a reliable measure of fair value is no longer available without undue cost or effort for an item of investment property, it shall be transferred to tangible assets and treated as such until it is expected that fair value will be reliably measurable on an on-going basis.
Impairment of fixed assets
A review for indicators of impairment is carried out at each reporting date, with the recoverable amount being estimated where such indicators exist. Where the carrying value exceeds the recoverable amount, the asset is impaired accordingly. Prior impairments are also reviewed for possible reversal at each reporting date. For the purposes of impairment testing, when it is not possible to estimate the recoverable amount of an individual asset, an estimate is made of the recoverable amount of the cash-generating unit to which the asset belongs. The cash-generating unit is the smallest identifiable group of assets that includes the asset and generates cash inflows that largely independent of the cash inflows from other assets or groups of assets. For impairment testing of goodwill, the goodwill acquired in a business combination is, from the acquisition date, allocated to each of the cash-generating units that are expected to benefit from the synergies of the combination, irrespective of whether other assets or liabilities of the company are assigned to those units.
Provisions
Provisions are recognised when the entity has an obligation at the reporting date as a result of a past event, it is probable that the entity will be required to transfer economic benefits in settlement and the amount of the obligation can be estimated reliably. Provisions are recognised as a liability in the statement of financial position and the amount of the provision as an expense. Provisions are initially measured at the best estimate of the amount required to settle the obligation at the reporting date and subsequently reviewed at each reporting date and adjusted to reflect the current best estimate of the amount that would be required to settle the obligation. Any adjustments to the amounts previously recognised are recognised in profit or loss unless the provision was originally recognised as part of the cost of an asset. When a provision is measured at the present value of the amount expected to be required to settle the obligation, the unwinding of the discount is recognised as a finance cost in profit or loss in the period it arises.
Financial instruments
A financial asset or a financial liability is recognised only when the entity becomes a party to the contractual provisions of the instrument. Basic financial instruments are initially recognised at the transaction price, unless the arrangement constitutes a financing transaction, where it is recognised at the present value of the future payments discounted at a market rate of interest for a similar debt instrument.
4. Tangible assets
Investment property
£
Cost or valuation
At 1 October 2023
81,860
Revaluations
8,140
--------
At 30 September 2024
90,000
--------
Depreciation
At 1 October 2023 and 30 September 2024
--------
Carrying amount
At 30 September 2024
90,000
--------
At 30 September 2023
81,860
--------
Tangible assets held at valuation
The company directors revalued the property at the year end using an open market valuation based on sales of similar properties.
5. Debtors
2024
2023
£
£
Other debtors
6,050
150
-------
----
6. Creditors: amounts falling due within one year
2024
2023
£
£
Corporation tax
796
334
Deposits held
842
842
Other creditors
84,419
83,795
--------
--------
86,057
84,971
--------
--------
7. Related party transactions
The company was under the control of the directors throughout the year. At the year end, the company owed the directors £82,967 (2023 - £82,595). This amount is interest free and repayable on demand.
8. Subsequent events
After the year end, the company acquired an interest in commercial property units costing £553,000.