Company registration number 08775541 (England and Wales)
ARISTEA UK LIMITED
UNAUDITED FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2024
PAGES FOR FILING WITH REGISTRAR
ARISTEA UK LIMITED
CONTENTS
Page
Balance sheet
1
Notes to the financial statements
2 - 5
ARISTEA UK LIMITED
BALANCE SHEET
AS AT 31 DECEMBER 2024
31 December 2024
- 1 -
2024
2023
Notes
£
£
£
£
Fixed assets
Investment property
5
1,200,000
1,200,000
Current assets
Debtors
6
12,115
4,651
Investments
7
190,000
130,000
Cash at bank and in hand
34,398
42,051
236,513
176,702
Creditors: amounts falling due within one year
8
(43,284)
(10,935)
Net current assets
193,229
165,767
Net assets
1,393,229
1,365,767
Capital and reserves
Called up share capital
9
3
3
Share premium account
1,529,997
1,529,997
Profit and loss reserves
(136,771)
(164,233)
Total equity
1,393,229
1,365,767
The directors of the company have elected not to include a copy of the profit and loss account within the financial statements.true
For the financial year ended 31 December 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.
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.
These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.
The financial statements were approved by the board of directors and authorised for issue on 17 July 2025 and are signed on its behalf by:
Chiara Morgante
Director
Company registration number 08775541 (England and Wales)
ARISTEA UK LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2024
- 2 -
1
Accounting policies
Company information
Aristea UK Limited is a private company limited by shares incorporated in England and Wales. The registered office is 35 Princess Street, Rochdale, Greater Manchester, England, OL12 0HA.
1.1
Accounting convention
These financial statements have been prepared in accordance with FRS 102 “The Financial Reporting Standard applicable in the UK and Republic of Ireland” (“FRS 102”) and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime. 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 financial statements are prepared in sterling, which is the functional currency of the company. Monetary amounts in these financial statements are rounded to the nearest £.
The financial statements have been prepared under the historical cost convention, modified to include investment properties and certain financial instruments at fair value. The principal accounting policies adopted are set out below.
1.2
Turnover
Revenue is recognised in respect of the rent receivable from the rental property owned by the company as per the rental agreement terms.
Revenue is shown net of VAT and any other sales related taxes.
1.3
Tangible fixed assets
Tangible fixed assets are initially measured at cost and subsequently measured at cost or valuation, net of depreciation and any impairment losses.
Depreciation is recognised so as to write off the cost or valuation of assets less their residual values over their useful lives on the following bases:
Fixtures, fittings & equipment
25% straight line basis
1.4
Investment properties
Investment property, which is property held to earn rentals and/or for capital appreciation, is initially recognised at cost, which includes the purchase cost and any directly attributable expenditure. Subsequently it is measured at fair value at the reporting end date. The surplus or deficit on revaluation is recognised in profit or loss.
1.5
Financial instruments
The company has elected to apply the provisions of Section 11 ‘Basic Financial Instruments’ and Section 12 ‘Other Financial Instruments Issues’ 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.
ARISTEA UK LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2024
1
Accounting policies
(Continued)
- 3 -
Basic financial assets
Basic financial assets include debtors and cash and bank balances.
Debtors
Debtors do not carry any interest and are stated at their nominal value. Appropriate allowances for estimated irrecoverable amounts are recognised in the Profit and Loss account when there is objective evidence that the asset is impaired.
Cash at bank and in hand
Cash at bank and in hand include cash in hand, deposits held at call with banks and other short-term liquid investments with original maturities of three months or less.
Derecognition of financial assets
Financial assets are derecognised only when the contractual rights to the cash flows from the asset expire or are settled, or when the company transfers the financial asset and substantially all the risks and rewards of ownership to another entity, or if some significant risks and rewards of ownership are retained but control of the asset has transferred to another party that is able to sell the asset in its entirety to an unrelated third party.
Classification of 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 deducting all of its liabilities.
Basic financial liabilities
Basic financial liabilities include creditors. Creditors are not interest bearing and are stated at their nominal value.
Derecognition of financial liabilities
Financial liabilities are derecognised when the company’s contractual obligations expire or are discharged or cancelled.
1.6
Equity instruments
Equity instruments issued by the company are recorded at the proceeds received, net of transaction costs. Dividends payable on equity instruments are recognised as liabilities once they are no longer at the discretion of the company.
1.7
Taxation
The tax expense represents the sum of the tax currently payable.
Current tax
The tax currently payable is based on taxable profit for the year. Taxable profit differs from net profit as reported in the profit and loss account because it excludes items of income or expense that are taxable or deductible in other years and it further excludes items that are never taxable or deductible. The company’s liability for current tax is calculated using tax rates that have been enacted or substantively enacted by the reporting end date.
ARISTEA UK LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2024
- 4 -
2
Employees
The average monthly number of persons (including directors) employed by the company during the year was:
2024
2023
Number
Number
Total
0
0
3
Taxation
2024
2023
£
£
Current tax
UK corporation tax on profits for the current period
7,350
4,118
4
Tangible fixed assets
Plant and machinery etc
£
Cost
At 1 January 2024 and 31 December 2024
5,680
Depreciation and impairment
At 1 January 2024 and 31 December 2024
5,680
Carrying amount
At 31 December 2024
At 31 December 2023
5
Investment property
2024
£
Fair value
At 1 January 2024 and 31 December 2024
1,200,000
Investment property comprises of a property at 57 Stanhope Gardens, London, SW7 5RF. The fair value of the investment property has been arrived at on the basis of a valuation carried out by Chiara Morgante (director).The valuation was made on an open market value basis by reference to market evidence of transaction prices for similar properties. The directors confirm that there has been no significant change in valuation as at 31 December 2024.
ARISTEA UK LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2024
- 5 -
6
Debtors
2024
2023
Amounts falling due within one year:
£
£
Other debtors
12,115
4,651
7
Current asset investments
2024
2023
£
£
Other investments
190,000
130,000
On 20th March 2024, the company invested £160,000 into a HSBC Money Market Fixed Deposit account that will mature on 19th March 2025. On 19th November 2024, the company invested £30,000 into a HSBC Money Market Fixed Deposit account that will mature on 19th March 2025.
8
Creditors: amounts falling due within one year
2024
2023
£
£
Corporation tax
7,315
4,118
Other creditors
35,969
6,817
43,284
10,935
9
Called up share capital
2024
2023
2024
2023
Ordinary share capital
Number
Number
£
£
Issued and fully paid
Ordinary shares of £1 each
3
3
3
3
10
Related party transactions
Included within other creditors is a directors loan due from the company of £2,969 (2023: £2,969). This loan is interest free and is repayable on demand.