Company No:
Contents
| Note | 2024 | 2023 | ||
| £ | £ | |||
| Fixed assets | ||||
| Tangible assets | 3 |
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| 5,463,117 | 5,463,823 | |||
| Current assets | ||||
| Debtors | 4 |
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| Cash at bank and in hand |
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| 137,480 | 30,601 | |||
| Creditors: amounts falling due within one year | 5 | (
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| Net current assets | 121,269 | 19,610 | ||
| Total assets less current liabilities | 5,584,386 | 5,483,433 | ||
| Creditors: amounts falling due after more than one year | 6 | (
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| Net assets |
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| Capital and reserves | ||||
| Called-up share capital | 7 |
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| Profit and loss account |
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| Total shareholder's funds |
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Director's responsibilities:
The financial statements of A.R.B. Property Projects Limited (registered number:
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Marisa Jane Betteridge
Director |
The principal accounting policies are summarised below. They have all been applied consistently throughout the financial year and to the preceding financial year, unless otherwise stated.
A.R.B. Property Projects Limited (the Company) is a private company, limited by shares, incorporated in the United Kingdom under the Companies Act 2006 and is registered in England and Wales. The address of the Company's registered office is Nexus House, 2 Cray Road, Sidcup, DA14 5DA, United Kingdom.
The financial statements have been prepared under the historical cost convention, modified to include the revaluation of freehold properties and to include investment properties and certain items at fair value, and in accordance with Section 1A of Financial Reporting Standard 102 (FRS 102) ‘The Financial Reporting Standard applicable in the UK and Republic of Ireland’ issued by the Financial Reporting Council and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime.
The financial statements are presented in pounds sterling which is the functional currency of the Company and rounded to the nearest £.
The company recognises rental income when:
- the amount of income can be reliably measured;
- it is probable that the future economic benefits will flow to the entity;
- and specific criteria have been met for each of the company's activities.
The tax expense for the period comprises current 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.
The current corporation tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the reporting date.
| Investment property | not depreciated |
| Office equipment |
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The gain or loss arising on the disposal of an asset is determined as the difference between the sale proceeds and the carrying value of the asset, and is credited or charged to profit or loss.
Assets, other than those measured at fair value, are assessed for indicators of impairment at each Balance Sheet date. If there is objective evidence of impairment, an impairment loss is recognised in the Profit and Loss Account as described below.
| 2024 | 2023 | ||
| Number | Number | ||
| Monthly average number of persons employed by the Company during the year, including the director |
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| Investment property | Office equipment | Total | |||
| £ | £ | £ | |||
| Cost | |||||
| At 01 January 2024 |
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| At 31 December 2024 |
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| Accumulated depreciation | |||||
| At 01 January 2024 |
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| Charge for the financial year |
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| At 31 December 2024 |
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| Net book value | |||||
| At 31 December 2024 | 5,461,000 | 2,117 | 5,463,117 | ||
| At 31 December 2023 | 5,461,000 | 2,823 | 5,463,823 |
Investment properties
The director is of the view that the fair value of the investment properties has not materially changed since the last reporting date. Those earlier valuations were performed by the director on the basis of estimated market value, which is deemed to be not materially different to fair value. The carrying value that would have been recognised if a historic cost model had been adopted is £4,772,500 (2024: £4,772,500).
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| £ | £ | ||
| Other debtors |
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| £ | £ | ||
| Corporation tax |
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| Other creditors |
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| £ | £ | ||
| Amounts owed to Group undertakings |
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| £ | £ | ||
| Allotted, called-up and fully-paid | |||
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Transactions with owners holding a participating interest in the entity
The company has taken advantage of the exemption provided in FRS 102 1A from disclosing transactions with members of the same group.