Caseware UK (AP4) 2024.0.164 2024.0.164 2023-12-312023-12-31false3No description of principal activityfalse2023-01-013falsefalse SC182141 2023-01-01 2023-12-31 SC182141 2022-01-01 2022-12-31 SC182141 2023-12-31 SC182141 2022-12-31 SC182141 2022-01-01 SC182141 1 2023-01-01 2023-12-31 SC182141 1 2022-01-01 2022-12-31 SC182141 3 2023-01-01 2023-12-31 SC182141 3 2022-01-01 2022-12-31 SC182141 5 2023-01-01 2023-12-31 SC182141 5 2022-01-01 2022-12-31 SC182141 6 2023-01-01 2023-12-31 SC182141 6 2022-01-01 2022-12-31 SC182141 d:Director1 2023-01-01 2023-12-31 SC182141 d:Director2 2023-01-01 2023-12-31 SC182141 d:RegisteredOffice 2023-01-01 2023-12-31 SC182141 e:PlantMachinery 2023-01-01 2023-12-31 SC182141 e:PlantMachinery 2023-12-31 SC182141 e:PlantMachinery 2022-12-31 SC182141 e:CurrentFinancialInstruments 2023-12-31 SC182141 e:CurrentFinancialInstruments 2022-12-31 SC182141 e:CurrentFinancialInstruments e:WithinOneYear 2023-12-31 SC182141 e:CurrentFinancialInstruments e:WithinOneYear 2022-12-31 SC182141 e:ReportableOperatingSegment1 2023-01-01 2023-12-31 SC182141 e:ReportableOperatingSegment1 2022-01-01 2022-12-31 SC182141 e:ReportableOperatingSegment2 2023-01-01 2023-12-31 SC182141 e:ReportableOperatingSegment2 2022-01-01 2022-12-31 SC182141 e:ReportableOperatingSegment3 2023-01-01 2023-12-31 SC182141 e:ReportableOperatingSegment3 2022-01-01 2022-12-31 SC182141 e:ReportableOperatingSegment5 2023-01-01 2023-12-31 SC182141 e:ReportableOperatingSegment5 2022-01-01 2022-12-31 SC182141 f:UnitedKingdom 2023-01-01 2023-12-31 SC182141 f:UnitedKingdom 2022-01-01 2022-12-31 SC182141 e:UKTax 2023-01-01 2023-12-31 SC182141 e:UKTax 2022-01-01 2022-12-31 SC182141 e:ShareCapital 2023-01-01 2023-12-31 SC182141 e:ShareCapital 2023-12-31 SC182141 e:ShareCapital 2022-01-01 2022-12-31 SC182141 e:ShareCapital 2022-12-31 SC182141 e:ShareCapital 2022-01-01 SC182141 e:SharePremium 2023-01-01 2023-12-31 SC182141 e:SharePremium 2023-12-31 SC182141 e:SharePremium 2022-01-01 2022-12-31 SC182141 e:SharePremium 2022-12-31 SC182141 e:SharePremium 2022-01-01 SC182141 e:RetainedEarningsAccumulatedLosses 2023-01-01 2023-12-31 SC182141 e:RetainedEarningsAccumulatedLosses 2023-12-31 SC182141 e:RetainedEarningsAccumulatedLosses 2022-01-01 2022-12-31 SC182141 e:RetainedEarningsAccumulatedLosses 2022-12-31 SC182141 e:RetainedEarningsAccumulatedLosses 2022-01-01 SC182141 e:AcceleratedTaxDepreciationDeferredTax 2023-12-31 SC182141 e:AcceleratedTaxDepreciationDeferredTax 2022-12-31 SC182141 e:TaxLossesCarry-forwardsDeferredTax 2023-12-31 SC182141 e:TaxLossesCarry-forwardsDeferredTax 2022-12-31 SC182141 d:OrdinaryShareClass1 2023-01-01 2023-12-31 SC182141 d:OrdinaryShareClass1 2023-12-31 SC182141 d:OrdinaryShareClass1 2022-12-31 SC182141 d:FRS102 2023-01-01 2023-12-31 SC182141 d:Audited 2023-01-01 2023-12-31 SC182141 d:FullAccounts 2023-01-01 2023-12-31 SC182141 d:PrivateLimitedCompanyLtd 2023-01-01 2023-12-31 SC182141 e:Subsidiary1 2023-01-01 2023-12-31 SC182141 e:Subsidiary1 1 2023-01-01 2023-12-31 SC182141 e:Subsidiary2 2023-01-01 2023-12-31 SC182141 e:Subsidiary2 1 2023-01-01 2023-12-31 SC182141 6 2023-01-01 2023-12-31 SC182141 g:PoundSterling 2023-01-01 2023-12-31 xbrli:shares iso4217:GBP xbrli:pure

Registered number: SC182141









ARRANGLEN LIMITED









ANNUAL REPORT AND FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 DECEMBER 2023

 
ARRANGLEN LIMITED
 

COMPANY INFORMATION


Directors
J Easdale 
G Easdale 




Registered number
SC182141



Registered office
99 Earnhill Road
Larkfield Industrial Estate

Greenock

PA16 0EQ




Independent auditors
Armstrong Watson Audit Limited
Chartered Accountants

1st Floor

24 Blythswood Square

Glasgow

G2 4BG





 
ARRANGLEN LIMITED
 

CONTENTS



Page
Strategic report
1
Directors' report
2 - 3
Independent auditors' report
4 - 7
Statement of comprehensive income
8
Balance sheet
9
Statement of changes in equity
10
Statement of cash flows
11
Analysis of net debt
12
Notes to the financial statements
13 - 24


 
ARRANGLEN LIMITED
 

STRATEGIC REPORT
FOR THE YEAR ENDED 31 DECEMBER 2023

Introduction
 
The Directors present their Strategic Report for the year ended 31 December 2023.

Business review
 
The Company is a holding and management consultancy company.

Principal risks and uncertainties
 
The Company has not granted any securities to any of its subsidiaries and this limits the risks to which the company is exposed.

Financial key performance indicators
 
The Directors review the company's income, expenditure, bank balances and cashflow on an ongoing basis.

Section S172 Statement
 
The directors acknowledge and understand their duties and responsibilities, including that of section 172, of the Companies Act 2006. A director of a company must act in the way he or she considers, in good faith, would be most likely to promote the success of the company for the benefit of its members as a whole, and in doing so have regard (amongst other matters) to:
- the likely consequences of any decision in the long term;
- the interest of the company's employees;
- the need to foster the company's business relationships with suppliers, customers and others;
- the impact of the company's operating on the local community and the environment;
- the desirability of the company maintaining a reputation for high standards of business conduct; and
- the need to act fairly as members of the company.
The board recognises that the long term success of the Group is dependent on the way we interact with a large number of stakeholders including our colleagues, customers and shareholders.
The directors have had regard to the interest of our stakeholders while complying with their obligations to promote the ongoing success of the Group in line with the section 172 of the Companies Act.
Ahead of all board meetings the directors ares supplied with board papers that highlight relevant stakeholder considerations along with performance metrics.
The board's decision making considers both risk and reward in the pursuit of delivering long term value to our stakeholders and acknowledging and understanding the current and potential risks to the business, both financial and non-financial, are fundemental to how we manage the Group.
The directors, both individually and collectively as a board, consider the decisions taken during the period ended 31 December 2023 were in conformance of their duty under section 172 of the Companies Act.
 


This report was approved by the board and signed on its behalf.



J Easdale
Director

Date: 25 June 2025

Page 1

 
ARRANGLEN LIMITED
 

 
DIRECTORS' REPORT
FOR THE YEAR ENDED 31 DECEMBER 2023

The Directors present their report and the financial statements for the year ended 31 December 2023.

Directors' responsibilities statement

The Directors are responsible for preparing the Strategic report, the Directors' report 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 applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice), including Financial Reporting Standard 102 ‘The Financial Reporting Standard applicable in the UK and Republic of Ireland'. 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 of the profit or loss of the Company for that period.

 In preparing these financial statements, the Directors are required to:


select suitable accounting policies for the Company's financial statements and then apply them consistently;

make judgments and accounting estimates that are reasonable and prudent;

state whether applicable UK Accounting Standards have been followed, subject to any material departures disclosed and explained in the financial statements;

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 transactions and disclose with reasonable accuracy at any time the financial position of the Company and to enable them to ensure that the financial statements comply with the Companies Act 2006They are also responsible for safeguarding the assets of the Company and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.

Results and dividends

The profit for the year, after taxation, amounted to £4,136,335 (2022 - £2,120,449).

No dividends were declared or paid during the year (2022: £Nil).

Directors

The Directors who served during the year were:

J Easdale 
G Easdale 

Future developments

The Directors anticipate that the company will continue to operate at similar levels for the foreseeable future.

Engagement with suppliers, customers and others

As a holding company, there is limited engagement with external customers.

Greenhouse gas emissions, energy consumption and energy efficiency action

The Company has not disclosed information in respect of greenhouse gas emissions, energy consumption and energy efficiency action as its energy consumption in the United Kingdom for the year is 40,000kWh or lower.

Page 2

 
ARRANGLEN LIMITED
 

 
DIRECTORS' REPORT (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2023

Disclosure of information to auditors

Each of the persons who are Directors at the time when this Directors' report is approved has confirmed that:
 
so far as the Director is aware, there is no relevant audit information of which the Company's auditors are unaware, and

the Director has taken all the steps that ought to have been taken as a Director in order to be aware of any relevant audit information and to establish that the Company's auditors are aware of that information.

Post balance sheet events

There have been no significant events affecting the Company since the year end.

Auditors

The auditorsArmstrong Watson Audit Limitedwill be proposed for reappointment in accordance with section 485 of the Companies Act 2006.

This report was approved by the board and signed on its behalf.
 





J Easdale
Director

Date: 25 June 2025

Page 3

 
ARRANGLEN LIMITED
 

 
INDEPENDENT AUDITORS' REPORT TO THE MEMBERS OF ARRANGLEN LIMITED
 

Disclaimer of opinion


We were engaged to audit the financial statements of Arranglen Limited (the 'Company') for the year ended 31 December 2023, which comprise the Statement of comprehensive income, the Balance sheet, the Statement of cash flows Statement of changes in equity and the related notes, 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).
We do not express an opinion on the accompanying financial statements of the company. Because of the significance of the matters described in the basis for disclaimer of opinion section of our report, we have not been able to obtain sufficient appropriate audit evidence to provide a basis for an audit opinion on these financial statements.


Basis for disclaimer of opinion


In the prior period we were unable to obtain sufficient appropriate audit evidence regarding amounts recognised as other debtors of £2,351,835 and amounts recognised as other creditors of £2,397,517 within the financial statements by the company due to an inability to obtain sufficient supporting evidence  to verify the valuation and existence of these balances. Whilst we have been able to obtain sufficient assurance this year, the effect of the above points on the current period’s results cannot be determined. Our opinion on the current period’s financial statements is also modified because of the possible material effect of the prior year matters on the accuracy and comparability of the current period’s figures and the corresponding figures.
In addition, in the current year we were unable to obtain sufficient assurance over the turnover recognised in the accounts of £1,620,908. 
Additionally as explained in note 2.1 to the financial statements, the directors have not prepared consolidated financial statements for the group for the subsidiaries which this company controls.  Under FRS 102, since there is no publicly available set of consolidated accounts prepared that include the parent company and subsidiaries, the exemption from preparing consolidated accounts is not applicable. The effects of this on the financial statements presented have not been determined, however had the consolidation been prepared, the financial statements would have been materially affected. 
Our opinion is modified because of the possible material effect of the above matters on the current period’s results. 
.
 








Page 4

 
ARRANGLEN LIMITED
 

 
INDEPENDENT AUDITORS' REPORT TO THE MEMBERS OF ARRANGLEN LIMITED (CONTINUED)


Opinion on other matters prescribed by the Companies Act 2006


Because of the significance of the matter described in the basis for disclaimer of opinion section of our report, we have been unable to form an opinion, whether based on the work undertaken in the course of the audit:
• the information given in the Strategic report and the Directors' report for the financial year for which the    financial statements are prepared is consistent with the financial statements; and
• the Strategic report and the Directors' report have been prepared in accordance with applicable legal    requirements.


Matters on which we are required to report by exception
 

Notwithstanding our disclaimer of an opinion on the financial statements in the light of the knowledge and understanding of the Company and its environment obtained in the course of the audit performed subject to the pervasive limitation described above, we have not identified material misstatements in the Strategic report or the Directors' report.
Arising from the limitation of our work referred to above:
• we have not obtained all the information and explanations that we considered necessary for the purpose    of our audit; and
• we were unable to determine whether adequate accounting records have been kept.
We have nothing to report in respect of the following matters in relation to which the Companies Act 2006 requires us to report to you if, in our opinion:

• returns adequate for our audit have not been received from branches not visited by us; or
• the financial statements are not in agreement with the accounting records and returns; or
• certain disclosures of Directors' remuneration specified by law are not made.

Responsibilities of directors
 

As explained more fully in the Directors' responsibilities statement set out on page 2 , 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 is 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 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 Company or to cease operations, or have no realistic alternative but to do so.
 

Auditors' responsibilities for the audit of the financial statements
 

Our responsibility is to conduct an audit of the company’s financial statements in accordance with International Standards on Auditing (UK) and to issue an auditor’s report.
However, because of the matters described in the basis for disclaimer of opinion section of our report, we were not able to obtain sufficient appropriate audit evidence to provide a basis for an audit opinion on these financial statements.
We are independent of the company 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.



Page 5

 
ARRANGLEN LIMITED
 

 
INDEPENDENT AUDITORS' REPORT TO THE MEMBERS OF ARRANGLEN LIMITED (CONTINUED)


Other matters
 

Irregularities, including fraud, are instances of non compliance with laws and regulations. We design procedures in line with our responsibilities, outlined above, 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:


Our approach to identifying and assessing the risks of material misstatement in respect of irregularities, including fraud and non compliance with laws and regulations, was as follows: 
• the engagement partner ensured that the engagement team collectively had the appropriate competence, capabilities and knowledge of the Company to identify or recognise non compliance with applicable laws and regulations;  
• we identified the laws and regulations applicable to the company through discussions with directors and other management and review of appropriate industry knowledge. Key laws and regulations we identified during the audit were the UK Companies Act 2006 and tax legislation, UK employment legislation and UK health and safety legislation; 
• we assessed the extent of compliance with the laws and regulations identified above by making enquiries of management; and 
• identified laws and regulations were communicated within the audit team regularly and the team remained alert to instances of non compliance throughout the audit.
We assessed the susceptibility of the Company’s financial statements to material misstatement, including obtaining an understanding of how fraud might occur, by:
• making enquiries of management as to where they considered there was susceptibility to fraud, their knowledge of actual, suspected and alleged fraud; and 
• considering the internal controls in place to mitigate risks of fraud and non compliance with laws and regulations. 
To address the risk of fraud through management bias and override of controls, we: 
• performed analytical procedures as a risk assessment tool to identify any unusual or unexpected relationships; 
• tested journal entries recorded on the Company’s finance system to identify unusual transactions that may indicate override of controls; 
• reviewed key judgements and estimates for any evidence of management bias; and 
• reviewed the application of accounting policies with focus on those with heightened estimation uncertainty.
In response to the risk of irregularities and non compliance with laws and regulations, we designed procedures which included, but were not limited to: 
• agreeing financial statement disclosures to underlying supporting documentation; and 
• enquiring of management to identify actual and potential litigation and claims. 
Due to the inherent limitations of an audit, there is an unavoidable risk that we may not have detected some material misstatements in the financial statements, even though we have properly planned and performed our audit in accordance with auditing standards. For example, as with any audit, there remains a higher risk of non detection of irregularities, as these may involve collusion, forgery, intentional omissions, misrepresentations, or the override of internal controls. We are not responsible for preventing fraud or non compliance with laws and regulations and cannot be expected to detect all fraud and non compliance with laws and regulations.


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 Auditors' report.


Page 6

 
ARRANGLEN LIMITED
 

 
INDEPENDENT AUDITORS' REPORT TO THE MEMBERS OF ARRANGLEN LIMITED (CONTINUED)


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 2006Our 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 an Auditors' report 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.





Martin Johnston (Senior statutory auditor)
  
for and on behalf of
Armstrong Watson Audit Limited
 
Chartered Accountants & Statutory Auditors
  
1st Floor
24 Blythswood Square
Glasgow
G2 4BG

25 June 2025
Page 7

 
ARRANGLEN LIMITED
 

STATEMENT OF COMPREHENSIVE INCOME
FOR THE YEAR ENDED 31 DECEMBER 2023

2023
2022
Note
£
£

  

Turnover
 3 
1,620,908
225,936

Gross profit
  
1,620,908
225,936

Administrative expenses
  
(1,015,274)
(58,401)

Other operating income
 4 
3,950,800
2,450,582

Operating profit
  
4,556,434
2,618,117

Investment income/(costs)
  
-
(2)

Profit before tax
  
4,556,434
2,618,115

Tax on profit
 7 
(420,099)
(497,666)

Profit for the financial year
  
4,136,335
2,120,449

Other comprehensive income for the year
  

Total comprehensive income for the year
  
4,136,335
2,120,449

The notes on pages 13 to 24 form part of these financial statements.

Page 8

 
ARRANGLEN LIMITED
REGISTERED NUMBER: SC182141

BALANCE SHEET
AS AT 31 DECEMBER 2023

2023
2022
Note
£
£

Fixed assets
  

Investments
 9 
1,638,979
1,209,482

  
1,638,979
1,209,482

Current assets
  

Debtors
 10 
12,426,997
7,251,308

Cash at bank and in hand
 11 
471,130
200,918

  
12,898,127
7,452,226

Creditors: amounts falling due within one year
 12 
(5,037,027)
(3,297,600)

Net current assets
  
 
 
7,861,100
 
 
4,154,626

Total assets less current liabilities
  
9,500,079
5,364,108

Provisions for liabilities
  

Deferred tax
 13 
-
(364)

  
 
 
-
 
 
(364)

Net assets
  
9,500,079
5,363,744


Capital and reserves
  

Called up share capital 
 14 
262,800
262,800

Share premium account
 15 
354,161
354,161

Profit and loss account
 15 
8,883,118
4,746,783

  
9,500,079
5,363,744


The financial statements were approved and authorised for issue by the board and were signed on its behalf by: 




J Easdale
Director

Date: 25 June 2025

The notes on pages 13 to 24 form part of these financial statements.

Page 9

 
ARRANGLEN LIMITED
 

STATEMENT OF CHANGES IN EQUITY
FOR THE YEAR ENDED 31 DECEMBER 2023


Called up share capital
Share premium account
Profit and loss account
Total equity

£
£
£
£


At 1 January 2022
262,800
354,161
2,626,334
3,243,295


Comprehensive income for the year

Profit for the year
-
-
2,120,449
2,120,449
Total comprehensive income for the year
-
-
2,120,449
2,120,449



At 1 January 2023
262,800
354,161
4,746,783
5,363,744


Comprehensive income for the year

Profit for the year
-
-
4,136,335
4,136,335
Total comprehensive income for the year
-
-
4,136,335
4,136,335


At 31 December 2023
262,800
354,161
8,883,118
9,500,079


The notes on pages 13 to 24 form part of these financial statements.

Page 10

 
ARRANGLEN LIMITED
 

STATEMENT OF CASH FLOWS
FOR THE YEAR ENDED 31 DECEMBER 2023

2023
2022
£
£

Cash flows from operating activities

Profit for the financial year
4,136,335
2,120,449

Adjustments for:

Taxation charge
937,940
497,666

(Increase) in debtors
(989,037)
(844,479)

(Increase) in amounts owed by groups
(4,186,357)
(2,364,984)

Increase/(decrease) in creditors
1,114,677
(60,833)

Corporation tax (paid)
(313,849)
(163,848)

Disposal of investment
-
2

Net cash generated from operating activities

699,709
(816,027)


Cash flows from investing activities

Purchase of fixed asset investments
(429,497)
-

Net cash from investing activities

(429,497)
-


Net increase/(decrease) in cash and cash equivalents
270,212
(816,027)

Cash and cash equivalents at beginning of year
200,918
1,016,945

Cash and cash equivalents at the end of year
471,130
200,918


Cash and cash equivalents at the end of year comprise:

Cash at bank and in hand
471,130
200,918

471,130
200,918


The notes on pages 13 to 24 form part of these financial statements.

Page 11

 
ARRANGLEN LIMITED
 

ANALYSIS OF NET DEBT
FOR THE YEAR ENDED 31 DECEMBER 2023




At 1 January 2023
Cash flows
At 31 December 2023
£

£

£

Cash at bank and in hand

200,918

270,212

471,130


200,918
270,212
471,130

The notes on pages 13 to 24 form part of these financial statements.

Page 12

 
ARRANGLEN LIMITED
 

 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023

1.


General information

Arranglen Limited is a private company, limited by shares, registered in Scotland. The company's registered number and registered office address can be found on the Company Information page.
The presentation currency of the financial statements is Pound Sterling (£).

2.Accounting policies

 
2.1

Basis of preparation of financial statements

The financial statements have been prepared under the historical cost convention unless otherwise specified within these accounting policies and in accordance with Financial Reporting Standard 102, the Financial Reporting Standard applicable in the UK and the Republic of Ireland and the Companies Act 2006.
The company has prepared standalone financial statements and has not prepared consolidated financial statements for the group for the subsidiaries which the company owns and controls, which would be required under the Companies Act 2006, and under the requirements of FRS 102. Under FRS 102, since there is no publicly available set of consolidated accounts prepared that include the parent company and subsidiaries, the exemption from preparing consolidated accounts is not applicable.  The directors are unable to evaluate the effects of this on the financial statements presented, however, had the consolidated financial statements been prepared, the financial statements would have been materially affected. 

The preparation of financial statements in compliance with FRS 102 requires the use of certain critical accounting estimates. It also requires management to exercise judgment in applying the Company's accounting policies.

Management consider there to be no key judgments or significant estimates.

The following principal accounting policies have been applied:

 
2.2

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. Thus the Directors continue to adopt the going concern basis of accounting in preparing the financial statements.
The information used to make this assessment is the preparation of group forecasts to at least twelve months from the date of the financial statements approval. These showed that the Group has a sufficient cash position for the foreseeable future and has sufficient funding facilities available.
On this basis, the Directors are confident that the Group and Company will continue to meet its liabilities as they fall due for at least twelve months from the date of approval of the financial statements and the Company will continue as a going concern for at least this twelve month period.

Page 13

 
ARRANGLEN LIMITED
 

 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023

2.Accounting policies (continued)

 
2.3

Revenue

Revenue is recognised to the extent that it is probable that the economic benefits will flow to the Company and the revenue can be reliably measured. Revenue is measured as the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. The following criteria must also be met before revenue is recognised:

Rendering of services

Revenue from a contract to provide services is recognised in the period in which the services are provided in accordance with the stage of completion of the contract when all of the following conditions are satisfied:
the amount of revenue can be measured reliably;
it is probable that the Company will receive the consideration due under the contract;
the stage of completion of the contract at the end of the reporting period can be measured reliably; and
the costs incurred and the costs to complete the contract can be measured reliably.

 
2.4

Current and deferred taxation

The tax expense for the year comprises current and deferred tax. Tax is recognised in profit or loss except that a charge attributable to an item of income and expense recognised as other comprehensive income or to an item recognised directly in equity is also recognised in other comprehensive income or directly in equity respectively.

The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the balance sheet date in the countries where the Company operates and generates income.

Deferred tax balances are recognised in respect of all timing differences that have originated but not reversed by the balance sheet date, except that:
The recognition of deferred tax assets is limited to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits; and
Any deferred tax balances are reversed if and when all conditions for retaining associated tax allowances have been met.

Deferred tax balances are not recognised in respect of permanent differences except in respect of business combinations, when deferred tax is recognised on the differences between the fair values of assets acquired and the future tax deductions available for them and the differences between the fair values of liabilities acquired and the amount that will be assessed for tax. Deferred tax is determined using tax rates and laws that have been enacted or substantively enacted by the balance sheet date.


 
2.5

Tangible fixed assets

Tangible fixed assets under the cost model are stated at historical cost less accumulated depreciation and any accumulated impairment losses. Historical cost includes expenditure that is directly attributable to bringing the asset to the location and condition necessary for it to be capable of operating in the manner intended by management.

Page 14

 
ARRANGLEN LIMITED
 

 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023

2.Accounting policies (continued)


2.5
Tangible fixed assets (continued)

Depreciation is charged so as to allocate the cost of assets less their residual value over their estimated useful lives, using the straight-line method.

Depreciation is provided on the following basis:

Plant and machinery
-
20%

The assets' residual values, useful lives and depreciation methods are reviewed, and adjusted prospectively if appropriate, or if there is an indication of a significant change since the last reporting date.

Gains and losses on disposals are determined by comparing the proceeds with the carrying amount and are recognised in profit or loss.

 
2.6

Valuation of investments

Investments in subsidiaries are measured at cost less accumulated impairment.

Investments in unlisted Company shares, whose market value can be reliably determined, are remeasured to market value at each balance sheet date. Gains and losses on remeasurement are recognised in the Statement of comprehensive income for the period. Where market value cannot be reliably determined, such investments are stated at historic cost less impairment.

 
2.7

Debtors

Short-term debtors are measured at transaction price, less any impairment. Loans receivable are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method, less any impairment.

 
2.8

Cash and cash equivalents

Cash is represented by cash in hand and deposits with financial institutions repayable without penalty on notice of not more than 24 hours. Cash equivalents are highly liquid investments that mature in no more than three months from the date of acquisition and that are readily convertible to known amounts of cash with insignificant risk of change in value.

In the Statement of cash flows, cash and cash equivalents are shown net of bank overdrafts that are repayable on demand and form an integral part of the Company's cash management.

 
2.9

Creditors

Short-term creditors are measured at the transaction price. Other financial liabilities, including bank loans, are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method.

 
2.10

Provisions for liabilities

Provisions are recognised when an event has taken place that gives rise to a legal or constructive obligation, a transfer of economic benefits is probable and a reliable estimate can be made.
Provisions are measured as the best estimate of the amount required to settle the obligation, taking into account the related risks and uncertainties.
 
Increases in provisions are generally charged as an expense to profit or loss.

Page 15

 
ARRANGLEN LIMITED
 

 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023

2.Accounting policies (continued)

 
2.11

Financial instruments

The Company has elected to apply the provisions of Section 11 “Basic Financial Instruments” of FRS 102 to all of its financial instruments.

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

Financial assets and liabilities are offset, with 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 trade and other debtors, cash and bank balances, are initially measured at their transaction price (adjusted for transaction costs except in the initial measurement of financial assets that are subsequently measured at fair value through profit and loss) and are subsequently carried at their amortised cost using the effective interest method, less any provision for impairment, 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.

Discounting is omitted where the effect of discounting is immaterial. The Company's cash and cash equivalents, trade and most other debtors due with the operating cycle fall into this category of financial instruments.

Other financial assets

Other financial assets, which includes investments in equity instruments which are not classified as subsidiaries, associates or joint ventures, are initially measured at fair value, which is normally the recognised transaction price. Such assets are subsequently measured at fair value with the changes in fair value being recognised in the profit or loss. Where other financial assets are not publicly traded, hence their fair value cannot be measured reliably, they are measured at cost less impairment.

Impairment of financial assets

At the end of each reporting period financial assets measured at amortised cost are assessed for objective evidence of impairment. If an asset is impaired the impairment loss is the difference between the carrying amount and the present value of the estimated cash flows discounted at the asset’s original effective interest rate. The impairment loss is recognised in profit or loss. 

Financial assets are impaired when events, subsequent to their initial recognition, indicate the estimated future cash flows derived from the financial asset(s) have been adversely impacted. The impairment loss will be the difference between the current carrying amount and the present value of the future cash flows at the asset(s) original effective interest rate.

If there is a favourable change in relation to the events surrounding the impairment loss then the impairment can be reviewed for possible reversal. The reversal will not cause the current carrying amount to exceed the original carrying amount had the impairment not been recognised. The impairment reversal is recognised in the profit or loss.

Financial liabilities

Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instrument is any contract that evidences a residual interest in the assets of the Company after the deduction of all its liabilities.

Page 16

 
ARRANGLEN LIMITED
 

 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023

2.Accounting policies (continued)


2.11
Financial instruments (continued)

Basic financial liabilities, which include trade and other creditors, bank loans and other loans are initially measured at their transaction price (adjusting for transaction costs except in the initial measurement of financial liabilities that are subsequently measured at fair value through profit and loss). When this constitutes a financing transaction, whereby the debt instrument is measured at the present value of the future payments discounted at a market rate of interest, discounting is omitted where the effect of discounting is immaterial.

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

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

Derecognition of financial assets

Financial assets are derecognised when their contractual right to future cash flow expire, or are settled, or when the Company transfers the asset and substantially all the risks and rewards of ownership to another party. If significant risks and rewards of ownership are retained after the transfer to another party, then the Company will continue to recognise the value of the portion of the risks and rewards retained.

Derecognition of financial liabilities

Financial liabilities are derecognised when the Company's contractual obligations expire or are discharged or cancelled.

Page 17

 
ARRANGLEN LIMITED
 

 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023

3.


Turnover

An analysis of turnover by class of business is as follows:


2023
2022
£
£

Advertising income
160,778
73,718

Rental income
26,380
29,575

Commision on insurance contract
558,750
122,643

Consulting Income
875,000
-

1,620,908
225,936


Analysis of turnover by country of destination:

2023
2022
£
£

United Kingdom
1,620,908
225,936

1,620,908
225,936



4.


Other operating income

2023
2022
£
£

Management charges receivable
3,950,800
2,450,582

3,950,800
2,450,582



5.


Auditors' remuneration

During the year, the Company obtained the following services from the Company's auditors and their associates:


2023
2022
£
£

Fees payable to the Company's auditors and their associates for the audit of the Company's financial statements
10,000
6,000

Fees payable to the Company's auditors and their associates in respect of:

Taxation compliance services
3,000
3,000

All non-audit services not included above
4,000
4,000

Page 18

 
ARRANGLEN LIMITED
 

 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023

6.


Employees

Staff costs, including Directors' remuneration, were as follows:


2023
2022
£
£

Wages and salaries
507,748
5,444

Social security costs
67,932
-

575,680
5,444


Directors remuneration in the year was £227,182 (2022: £Nil). Remuneration paid to Key Management Personnel was £511,159 (2022:£Nil)

The average monthly number of employees, including the Directors, during the year was as follows:


        2023
        2022
            No.
            No.







Directors
2
2



Administrative
1
1

3
3


7.


Taxation


2023
2022
£
£

Corporation tax


Current tax on profits for the year
420,761
497,639


420,761
497,639


Total current tax
420,761
497,639

Deferred tax


Origination and reversal of timing differences
(662)
27

Total deferred tax
(662)
27


Tax on profit
420,099
497,666
Page 19

 
ARRANGLEN LIMITED
 

 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023
 
7.Taxation (continued)


Factors affecting tax charge for the year

The tax assessed for the year is lower than (2022 - higher than) the standard rate of corporation tax in the UK of 23.52% (2022 - 19%). The differences are explained below:

2023
2022
£
£


Profit on ordinary activities before tax
4,556,434
2,618,115


Profit on ordinary activities multiplied by standard rate of corporation tax in the UK of 23.52% (2022 - 19%)
1,071,673
497,442

Effects of:


Expenses not deductible for tax purposes
31,697
311

Group relief surrendered/(claimed)
(645,167)
-

Adjustments to tax charge in respect of 
previous periods
(37,380)
-

Adjustments to tax charge in respect of 
previous periods - deferred tax
(337)
-

Remeasurement of deferred tax for
changes in tax rates
4
20

Movement in deferred tax not recognised
(391)
(107)

Total tax charge for the year
420,099
497,666


Factors that may affect future tax charges

There were no factors that may affect future tax charges.

Page 20

 
ARRANGLEN LIMITED
 

 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023

8.


Tangible fixed assets





Plant and machinery

£



Cost or valuation


At 1 January 2023
61,821



At 31 December 2023

61,821



Depreciation


At 1 January 2023
61,821



At 31 December 2023

61,821



Net book value



At 31 December 2023
-



At 31 December 2022
-


9.


Fixed asset investments





Investments in subsidiary companies

£



Cost or valuation


At 1 January 2023
1,209,482


Additions
429,497



At 31 December 2023
1,638,979




Page 21

 
ARRANGLEN LIMITED
 

 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023

Subsidiary undertakings


The following were subsidiary undertakings of the Company:

Name

Registered office

Class of shares

Holding

Clayhunt Limited
73 Union Street, Greenock, PA16 8BG
Ordinary
100%
McGills Bus Services Limited
99 Earnhill Road, Larkfield Industrial Estate, Greenock, Renfrewshire, PA16 0EQ
Ordinary
100%


10.


Debtors

2023
2022
£
£



Trade debtors
900
618

Amounts owed by group undertakings
9,078,753
4,892,396

Other debtors
3,304,754
2,351,834

Prepayments and accrued income
42,292
6,460

Deferred taxation
298
-

12,426,997
7,251,308



11.


Cash and cash equivalents

2023
2022
£
£

Cash at bank and in hand
471,130
200,918

471,130
200,918



12.


Creditors: Amounts falling due within one year

2023
2022
£
£

Trade creditors
3,730
3,840

Corporation tax
1,496,724
871,971

Other taxation and social security
820,898
9,285

Other creditors
2,566,938
2,397,516

Accruals and deferred income
148,737
14,988

5,037,027
3,297,600


Page 22

 
ARRANGLEN LIMITED
 

 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023

13.


Deferred taxation




2023


£






At beginning of year
(364)


Charged to profit or loss
662



At end of year
298

The deferred taxation balance is made up as follows:

2023
2022
£
£


Fixed asset timing differences
298
(27)

Over/(under) provided
-
(337)

298
(364)


14.


Share capital

2023
2022
£
£
Allotted, called up and fully paid



262,800 (2022 - 262,800) Ordinary shares of £1.00 each
262,800
262,800



15.


Reserves

Share premium account

This reserve records the amount above the nominal value received for shares issued less transaction costs.

Profit and loss account

The profit and loss account comprises the accumulated profits and losses of the company.


16.


Related party transactions

As at 31 December 2023 a Director owed the Company £268,566 (2022: £238,566). In addition as at the 31 December 2023 Key Management Personnel owed the company £878,361 (2022:£863,361). 
During the year, £291,000 was paid to a company which is considered a related party as a result of its director holding a common directorship  with one of the subsidiary undertakings.As at 31 December 2023 there are £Nil balances outstanding with this company and the company was dissolved on 15th October 2024.

Page 23

 
ARRANGLEN LIMITED
 

 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023

17.


Controlling party

The ultimate parent company is Dalglen (No 1812) Limited which in the opinion of the Director does not have an ultimate controlling party.


Page 24