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Registered number: 02284316









ARDENWAY LIMITED







UNAUDITED

FINANCIAL STATEMENTS

INFORMATION FOR FILING WITH THE REGISTRAR

FOR THE YEAR ENDED 31 AUGUST 2024

 
ARDENWAY LIMITED
REGISTERED NUMBER: 02284316

BALANCE SHEET
AS AT 31 AUGUST 2024

2024
2023
Note
£
£

Fixed assets
  

Investment property
 4 
1,848,749
1,848,749

  
1,848,749
1,848,749

Current assets
  

Debtors: amounts falling due within one year
 5 
642,901
703,148

Cash at bank and in hand
  
10,026
9,647

  
652,927
712,795

Creditors: amounts falling due within one year
 6 
(1,080,179)
(1,110,595)

Net current liabilities
  
 
 
(427,252)
 
 
(397,800)

Total assets less current liabilities
  
1,421,497
1,450,949

Creditors: amounts falling due after more than one year
 7 
(750,000)
(750,000)

  

Net assets
  
671,497
700,949


Capital and reserves
  

Called up share capital 
 9 
100
100

Revaluation reserve
  
1,261,461
1,261,461

Profit and loss account
  
(590,064)
(560,612)

  
671,497
700,949


Page 1

 
ARDENWAY LIMITED
REGISTERED NUMBER: 02284316
    
BALANCE SHEET (CONTINUED)
AS AT 31 AUGUST 2024

The director considers that the Company is entitled to exemption from audit under section 477 of the Companies Act 2006 and members have not required the Company to obtain an audit for the year in question in accordance with section 476 of the Companies Act 2006.

The director acknowledges his responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.

The financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies regime and in accordance with the provisions of FRS 102 Section 1A - small entities.

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

The Company has opted not to file the statement of comprehensive income in accordance with provisions applicable to companies subject to the small companies' regime.

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




M J Keats
Director

Date: 14 July 2025

The notes on pages 3 to 6 form part of these financial statements.

Page 2

 
ARDENWAY LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 AUGUST 2024

1.


General information

Ardenway Limited is a private company, limited by shares, incorporated in the United Kingdom and registered in England and Wales (registration number: 02284316). The Company's registered office address is 101 New Cavendish Street, 1st Floor South, London, United Kingdom, W1W 6XH, and functional currency is pound sterling (£ GBP).

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 FRS 102 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland' and the requirements of the Companies Act 2006. The disclosure requirements of Section 1A of FRS 102 have been applied other than where additional disclosure is required to show a true and fair view.

The following principal accounting policies have been applied:

 
2.2

Going concern

In assessing the ability of the company to operate as a going concern, management have evaluated current and forecasted operational results, and the solvency of the company. As a result, the director considers it appropriate to prepare the financial statements on a going concern basis.

 
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.

 
2.4

Investment property

Investment property is carried at fair value and derived from the current market rents and investment property yields for comparable real estate, adjusted if necessary for any difference in the nature, location or condition of the specific asset. No depreciation is provided. Changes in fair value are recognised in the Statement of Comprehensive Income. 

 
2.5

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.

 
2.6

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.

Page 3

 
ARDENWAY LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 AUGUST 2024

2.Accounting policies (continued)

 
2.7

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.


3.


Employees




The average monthly number of employees, including directors, during the year was 1 (2023 - 1).


4.


Investment property


Freehold investment property

£



Valuation


At 1 September 2023
1,848,749



At 31 August 2024
1,848,749



The 2024 valuations were made by the director, on an open market value for existing use basis.





If the Investment properties had been accounted for under the historic cost accounting rules, the properties would have been measured as follows:

2024
2023
£
£


Historic cost
587,288
587,288

587,288
587,288

Page 4

 
ARDENWAY LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 AUGUST 2024

5.


Debtors

2024
2023
£
£


Amounts owed by group undertakings
642,535
702,535

Other debtors
366
281

Prepayments and accrued income
-
332

642,901
703,148



6.


Creditors: Amounts falling due within one year

2024
2023
£
£

Amounts owed to group undertakings
10,800
9,000

Amounts owed to related undertakings
1,060,400
1,059,400

Other creditors
-
30,000

Accruals and deferred income
8,979
12,195

1,080,179
1,110,595



7.


Creditors: Amounts falling due after more than one year

2024
2023
£
£

Bank loans
750,000
750,000

750,000
750,000


Page 5

 
ARDENWAY LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 AUGUST 2024

8.


Loans


2024
2023
£
£




Amounts falling due after more than 5 years

Bank loans
750,000
750,000

750,000
750,000

750,000
750,000


The bank loan is secured by way of a first legal mortgage over the company's freehold investment property by way of a fixed and floating charge.


9.


Share capital

2024
2023
£
£
Allotted, called up and fully paid



100 (2023 - 100) Ordinary shares of £1.00 each
100
100



10.


Controlling party and ultimate parent company

The ultimate parent company is Eastmount Holdings Limited, a company registered in England and Wales. 

 
Page 6