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COMPANY REGISTRATION NUMBER: 09842391
Archstone Partners Limited
Filleted Unaudited Abridged Financial Statements
31 October 2024
Archstone Partners Limited
Abridged Financial Statements
Year Ended 31 October 2024
Contents
Pages
Officers and professional advisers
1
Abridged statement of financial position
2 to 3
Notes to the abridged financial statements
4 to 6
Archstone Partners Limited
Officers and Professional Advisers
Director
Mrs X Liu
Registered office
71-75 Shelton Street
Covent Garden
London
UK
WC2H 9JQ
Accountants
SR Howell & Co
Chartered Certified Accountants
88 High Street
Ramsey
Huntingdon
Cambs
PE26 1BS
Archstone Partners Limited
Abridged Statement of Financial Position
31 October 2024
2024
2023
Note
£
£
Fixed assets
Tangible assets
5
11,378,932
12,504,445
Current assets
Debtors
16,862
47,322
Cash at bank and in hand
300,040
55,652
---------
---------
316,902
102,974
Creditors: amounts falling due within one year
( 48,383)
( 271,222)
---------
---------
Net current assets/(liabilities)
268,519
( 168,248)
-------------
-------------
Total assets less current liabilities
11,647,451
12,336,197
Creditors: amounts falling due after more than one year
6
( 3,495,849)
( 4,444,267)
Provisions
( 395,863)
( 358,427)
-------------
-------------
Net assets
7,755,739
7,533,503
-------------
-------------
Capital and reserves
Called up share capital
5,275,918
5,275,918
Fair value reserve
2,098,096
2,048,262
Profit and loss account
381,725
209,323
------------
------------
Shareholders funds
7,755,739
7,533,503
------------
------------
These abridged 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 abridged statement of comprehensive income has not been delivered.
For the year ending 31 October 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
Director's responsibilities:
- The members have not required the company to obtain an audit of its abridged financial statements for the year in question in accordance with section 476 ;
- The director acknowledges her responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of abridged financial statements .
All of the members have consented to the preparation of the abridged statement of comprehensive income and the abridged statement of financial position for the year ending 31 October 2024 in accordance with Section 444(2A) of the Companies Act 2006.
Archstone Partners Limited
Abridged Statement of Financial Position (continued)
31 October 2024
These abridged financial statements were approved by the board of directors and authorised for issue on 1 April 2025 , and are signed on behalf of the board by:
„„„„„„„„„„„„„
Mrs X Liu Director
Company registration number: 09842391
Archstone Partners Limited
Notes to the Abridged Financial Statements
Year Ended 31 October 2024
1. General information
The company is a private company limited by shares, registered in England and Wales. The address of the registered office is 71-75 Shelton Street, Covent Garden, London, WC2H 9JQ, UK.
2. Statement of compliance
These abridged 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
3.1 Basis of preparation
The abridged 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 abridged financial statements are prepared in sterling, which is the functional currency of the entity.
3.2 Revenue recognition
Turnover is measured at the fair value of the consideration received or receivable and represents amounts receivable for goods supplied and services rendered, stated net of discounts.
3.3 Income 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. Current tax is recognised on taxable profit for the current and past periods. Current tax is measured at the amounts of tax expected to pay or recover using the tax rates and laws that have been enacted or substantively enacted at the reporting date.
Deferred tax is recognised in respect of all timing differences at the reporting date. Unrelieved tax losses and other 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. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date that are expected to apply to the reversal of the timing difference.
3.4 Tangible assets
Tangible assets are initially recorded at cost, and subsequently stated at cost less any accumulated depreciation and impairment losses.
3.5 Depreciation
Depreciation is calculated so as to write off the cost or valuation of an asset, less its residual value, over the useful economic life of that asset as follows:
Computer equipment
-
33% reducing balance
3.6 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.
3.7 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.
3.8 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 abridged 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.
4. Employee numbers
The average number of persons employed by the company during the year amounted to 2 (2023: 2 ).
5. Tangible assets
£
Cost or valuation
At 1 November 2023
12,507,973
Disposals
( 1,244,402)
Revaluations
119,232
-------------
At 31 October 2024
11,382,803
-------------
Depreciation
At 1 November 2023
3,528
Charge for the year
343
-------------
At 31 October 2024
3,871
-------------
Carrying amount
At 31 October 2024
11,378,932
-------------
At 31 October 2023
12,504,445
-------------
The investment properties were revalued to their estimated fair value of £11,378,236 on 31 October 2024. The revaluations have been calculated by the director by comparing to similar properties on the same streets.
6. Creditors: amounts falling due after more than one year
Included within creditors: amounts falling due after more than one year is an amount of £3,459,849 (2023: £4,423,264) in respect of liabilities payable or repayable by instalments which fall due for payment after more than five years from the reporting date.
The loans are interest only and repayable in full after 25 years.
7. Director's advances, credits and guarantees
During the year the director entered into the following advances and credits with the company:
2024
Balance brought forward
Advances/ (credits) to the director
Balance outstanding
£
£
£
director
2,234
2,234
----
-------
-------
2023
Balance brought forward
Advances/ (credits) to the director
Balance outstanding
£
£
£
director
----
----
----