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Registration number: 13143990

ARG Projects Ltd

Unaudited Filleted Financial Statements

for the Year Ended 31 January 2025

 

ARG Projects Ltd

Contents

Company Information

1

Balance Sheet

2 to 3

Notes to the Unaudited Financial Statements

4 to 10

 

ARG Projects Ltd

Company Information

Director

Anthony Roland Gilbody

Registered office

The White House
Greenall's Avenue
Warrington
Cheshire
WA4 6HL

Accountants

Beans Accountants Ltd
Chartered AccountantSuite F/22
The White House
Greenalls Avenue
Warrington
Cheshire
WA4 6HL

 

ARG Projects Ltd

(Registration number: 13143990)
Balance Sheet as at 31 January 2025

Note

2025
£

2024
£

Fixed assets

 

Tangible assets

4

54

146

Investment property

5

861,997

509,561

 

862,051

509,707

Current assets

 

Debtors

6

25,340

9,404

Cash at bank and in hand

 

2,037

2,805

 

27,377

12,209

Creditors: Amounts falling due within one year

7

(408,913)

(119,838)

Net current liabilities

 

(381,536)

(107,629)

Total assets less current liabilities

 

480,515

402,078

Creditors: Amounts falling due after more than one year

7

(433,496)

(400,280)

Provisions for liabilities

(15,302)

(3,472)

Net assets/(liabilities)

 

31,717

(1,674)

Capital and reserves

 

Called up share capital

8

10

10

Other reserves

65,235

14,803

Retained earnings

(33,528)

(16,487)

Shareholders' funds/(deficit)

 

31,717

(1,674)

For the financial year ending 31 January 2025 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 accounts for the year in question in accordance with section 476; and

The director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime. As permitted by section 444 (5A) of the Companies Act 2006, the director has not delivered to the registrar a copy of the Profit and Loss Account.

Approved and authorised by the director on 17 July 2025
 

 

ARG Projects Ltd

(Registration number: 13143990)
Balance Sheet as at 31 January 2025 (continued)

.........................................
Anthony Roland Gilbody
Director

 

ARG Projects Ltd

Notes to the Unaudited Financial Statements for the Year Ended 31 January 2025

1

General information

The company is a private company limited by share capital, incorporated in England and Wales.

The address of its registered office is:
The White House
Greenall's Avenue
Warrington
Cheshire
WA4 6HL
England

These financial statements were authorised for issue by the director on 17 July 2025.

2

Accounting policies

Summary of significant accounting policies and key accounting estimates

The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.

Statement of compliance

These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A smaller entities - 'The Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland' and the Companies Act 2006 (as applicable to companies subject to the small companies' regime).

Basis of preparation

These financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.

Revenue recognition

Turnover comprises the fair value of the consideration received or receivable for the sale of goods and provision of services in the ordinary course of the company’s activities. Turnover is shown net of sales/value added tax, returns, rebates and discounts.

The company recognises revenue when:
The amount of revenue can be reliably measured;
it is probable that future economic benefits will flow to the entity;
and specific criteria have been met for each of the company's activities.

Tax

The tax expense for the period comprises deferred tax. Tax is recognised in profit or loss, except that a change attributable to an item of income or expense recognised as other comprehensive income is also recognised directly in other comprehensive income.

 

ARG Projects Ltd

Notes to the Unaudited Financial Statements for the Year Ended 31 January 2025 (continued)

2

Accounting policies (continued)

Deferred tax is recognised in respect of all timing differences between taxable profits and profits reported in the financial statements.

Unrelieved tax losses and other deferred tax assets are recognised when 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 and that are expected to apply to the reversal of the timing difference.

Tangible assets

Tangible assets are stated in the balance sheet at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.

The cost of tangible assets includes directly attributable incremental costs incurred in their acquisition and installation.

Depreciation

Depreciation is charged so as to write off the cost of assets, other than land and properties under construction over their estimated useful lives, as follows:





Asset class

Depreciation method and rate

Plant and machinery

3 years, straight line

Investment property

Investment property is carried at fair value, derived from the current market prices for comparable real estate determined every three years by external valuers. The valuers use observable market prices, adjusted if necessary for any difference in the nature, location or condition of the specific asset. At other times management will review the reported fair values taking into consideration market values for similar properties. Changes in fair value are recognised in profit or loss.

Cash and cash equivalents

Cash and cash equivalents comprise cash on hand and call deposits, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value.

Trade debtors

Trade debtors are amounts due from customers for merchandise sold or services performed in the ordinary course of business.

Trade debtors are recognised initially at the transaction price. They are subsequently measured at amortised cost using the effective interest method, less provision for impairment. A provision for the impairment of trade debtors is established when there is objective evidence that the company will not be able to collect all amounts due according to the original terms of the receivables.

 

ARG Projects Ltd

Notes to the Unaudited Financial Statements for the Year Ended 31 January 2025 (continued)

2

Accounting policies (continued)

Trade creditors

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Accounts payable are classified as current liabilities if the company does not have an unconditional right, at the end of the reporting period, to defer settlement of the creditor for at least twelve months after the reporting date. If there is an unconditional right to defer settlement for at least twelve months after the reporting date, they are presented as non-current liabilities.

Trade creditors are recognised initially at the transaction price and subsequently measured at amortised cost using the effective interest method.

Borrowings

Interest-bearing borrowings are initially recorded at fair value, net of transaction costs. Interest-bearing borrowings are subsequently carried at amortised cost, with the difference between the proceeds, net of transaction costs, and the amount due on redemption being recognised as a charge to the profit and loss account over the period of the relevant borrowing.

Interest expense is recognised on the basis of the effective interest method and is included in interest payable and similar charges.

Borrowings are classified as current liabilities unless the company has an unconditional right to defer settlement of the liability for at least twelve months after the reporting date.

Share capital

Ordinary shares are classified as equity. Equity instruments are measured at the fair value of the cash or other resources received or receivable, net of the direct costs of issuing the equity instruments. If payment is deferred and the time value of money is material, the initial measurement is on a present value basis.

3

Staff numbers

The average number of persons employed by the company (including the director) during the year, was 1 (2024 - 1).

 

ARG Projects Ltd

Notes to the Unaudited Financial Statements for the Year Ended 31 January 2025 (continued)

4

Tangible assets

Other tangible assets
£

Total
£

Cost or valuation

At 1 February 2024

1,608

1,608

At 31 January 2025

1,608

1,608

Depreciation

At 1 February 2024

1,462

1,462

Charge for the year

92

92

At 31 January 2025

1,554

1,554

Carrying amount

At 31 January 2025

54

54

At 31 January 2024

146

146

5

Investment properties

2025
£

At 1 February

491,287

Additions

290,174

Fair value adjustments

80,536

At 31 January

861,997

Properties purchased during the year are shown at purchase cost plus any enhancement costs. In subsequent years properties are valued at the director's best estimate based on comparable properties. An independent valuation will be carried out every three years.

Independent valuations were performed for two properties:
1. 1A Ripley Street was valued at £275,000
2. 53 Thelwall Lane was valued at £150,00

6

Debtors

Current

2025
£

2024
£

Prepayments

2,108

7,926

Other debtors

23,232

1,478

 

25,340

9,404

 

ARG Projects Ltd

Notes to the Unaudited Financial Statements for the Year Ended 31 January 2025 (continued)

7

Creditors

Creditors: amounts falling due within one year

Note

2025
£

2024
£

Due within one year

 

Loans and borrowings

9

237,265

-

Accruals and deferred income

 

3,715

-

Other creditors

 

167,933

119,838

 

408,913

119,838

Creditors: amounts falling due after more than one year

Note

2025
£

2024
£

Due after one year

 

Loans and borrowings

9

433,496

400,280

2025
£

2024
£

Due after more than five years

After more than five years not by instalments

433,496

400,280

-

-

8

Share capital

Allotted, called up and fully paid shares

2025

2024

No.

£

No.

£

Ordinary of £1 each

10

10

10

10

       

9

Loans and borrowings

Non-current loans and borrowings

2025
£

2024
£

Bank borrowings

433,496

400,280

Current loans and borrowings

 

ARG Projects Ltd

Notes to the Unaudited Financial Statements for the Year Ended 31 January 2025 (continued)

9

Loans and borrowings (continued)

2025
£

2024
£

Bank borrowings

237,265

-

Bank borrowings

Interest only mortgage 1 is denominated in GBP with a nominal interest rate of 3.24%, and the final instalment is due on 4 November 2046. The carrying amount at year end is £Nil (2024 - £126,216).

This loan was repaid on 01/02/24

Interest only mortgage 2 is denominated in GBP with a nominal interest rate of 3.30%, and the final instalment is due on 8 December 2046. The carrying amount at year end is £99,013 (2024 - £99,013).

The mortgage was secured against 53 Thelwall Lane, Warrington, WA4 1LJ

Interest only mortgage 3 is denominated in GBP with a nominal interest rate of 4.89%, and the final instalment is due on 4 October 2046. The carrying amount at year end is £Nil (2024 - £53,076).

This loan was repaid on 01/02/24

Interest only mortgage 4 is denominated in GBP with a nominal interest rate of 3.99%, and the final instalment is due on 9 February 2048. The carrying amount at year end is £121,972 (2024 - £121,975).

The mortgage was secured against 112 Bostock Street, Warrington WA5 1TU

Interest only mortgage 5 is denominated in GBP with a nominal interest rate of 5.32%, and the final instalment is due on 6 February 2049. The carrying amount at year end is £212,511 (2024 - £Nil).

The mortgage was secured against 1A Ripley Street, Warrington, WA5 1PZ.

Interest only Loan 6 is denominated in GBP with a nominal interest rate of 13.08%, and the final instalment is due on 26 March 2025. The carrying amount at year end is £63,000 (2024 - £Nil).

The loan is secured against 4a Cross Lane, Newton le Willows, WA12 9QE

Interest only Loan 7 is denominated in GBP with a nominal interest rate of 12.48%, and the final instalment is due on 23 June 2025. The carrying amount at year end is £174,265 (2024 - £Nil).

The loan is secured against 68 Chester Road, Warrington, WA4 6AD

Included in the loans and borrowings are the following amounts due after more than five years:

Bank loans and overdrafts after five years

The entire amount showing as non-current creditors is due after five years.

10

Related party transactions

Loans from related parties

 

ARG Projects Ltd

Notes to the Unaudited Financial Statements for the Year Ended 31 January 2025 (continued)

10

Related party transactions (continued)

2025

Key management
£

Total
£

At start of period

119,838

119,838

Advanced

48,095

48,095

At end of period

167,933

167,933

2024

Key management
£

Total
£

At start of period

105,956

105,956

Advanced

14,150

14,150

Repaid

(268)

(268)

At end of period

119,838

119,838

Terms of loans from related parties

The Director has made interest free advances to the Company that are repayable on demand.