Company registration number 15126799 (England and Wales)
ARIEL HOUSE (SHELDON) LIMITED
UNAUDITED FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 NOVEMBER 2024
PAGES FOR FILING WITH REGISTRAR
ARIEL HOUSE (SHELDON) LIMITED
COMPANY INFORMATION
Directors
Mr M J Diskin
Mr S P Dodd
Mr R Lal
(Appointed 23 April 2024)
Ms C A Bennett
(Appointed 3 May 2024)
Mr J A Costello
(Appointed 13 May 2025)
Company number
15126799
Registered office
St Pauls House
23 St Pauls Square
Birmingham
West Midlands
B3 1RB
Accountants
Ormerod Rutter Limited
The Oakley
Kidderminster Road
Droitwich Spa
Worcestershire
WR9 9AY
ARIEL HOUSE (SHELDON) LIMITED
CONTENTS
Page
Accountants' report
1
Balance sheet
2
Notes to the financial statements
3 - 5
ARIEL HOUSE (SHELDON) LIMITED
ACCOUNTANTS' REPORT TO THE BOARD OF DIRECTORS ON THE PREPARATION OF THE UNAUDITED STATUTORY FINANCIAL STATEMENTS OF ARIEL HOUSE (SHELDON) LIMITED FOR THE YEAR ENDED 30 NOVEMBER 2024
- 1 -
In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the financial statements of Ariel House (Sheldon) Limited for the year ended 30 November 2024 which comprise, the balance sheet and the related notes from the company’s accounting records and from information and explanations you have given us.
As a practising member firm of the Institute of Chartered Accountants in England and Wales (ICAEW), we are subject to its ethical and other professional requirements which are detailed at https://www.icaew.com/regulation.
This report is made solely to the board of directors of Ariel House (Sheldon) Limited, as a body, in accordance with our terms of engagement. Our work has been undertaken solely to prepare for your approval the financial statements of Ariel House (Sheldon) Limited and state those matters that we have agreed to state to the board of directors of Ariel House (Sheldon) Limited, as a body, in this report in accordance with ICAEW Technical Release 07/16 AAF. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than Ariel House (Sheldon) Limited and its board of directors as a body, for our work or for this report.
It is your duty to ensure that Ariel House (Sheldon) Limited has kept adequate accounting records and to prepare statutory financial statements that give a true and fair view of the assets, liabilities, financial position and loss of Ariel House (Sheldon) Limited. You consider that Ariel House (Sheldon) Limited is exempt from the statutory audit requirement for the year.
We have not been instructed to carry out an audit or a review of the financial statements of Ariel House (Sheldon) Limited. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory financial statements.
Ormerod Rutter Limited
27 August 2025
Chartered Accountants
The Oakley
Kidderminster Road
Droitwich Spa
Worcestershire
WR9 9AY
ARIEL HOUSE (SHELDON) LIMITED
BALANCE SHEET
AS AT 30 NOVEMBER 2024
30 November 2024
- 2 -
2024
2023
Notes
£
£
£
£
Current assets
Stocks
4,934,693
22,229
Debtors
4
57,650
Cash at bank and in hand
171
4,992,514
22,229
Creditors: amounts falling due within one year
5
(1,140,931)
(23,204)
Net current assets/(liabilities)
3,851,583
(975)
Creditors: amounts falling due after more than one year
6
(3,852,895)
Net liabilities
(1,312)
(975)
Capital and reserves
Called up share capital
8
20
10
Profit and loss reserves
(1,332)
(985)
Total equity
(1,312)
(975)
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 30 November 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 27 August 2025 and are signed on its behalf by:
Mr S P Dodd
Mr R Lal
Director
Director
Company registration number 15126799 (England and Wales)
ARIEL HOUSE (SHELDON) LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 NOVEMBER 2024
- 3 -
1
Accounting policies
Company information
Ariel House (Sheldon) Limited is a private company limited by shares incorporated in England and Wales. The registered office is St Pauls House, 23 St Pauls Square, Birmingham, West Midlands, B3 1RB.
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 have been prepared under the historical cost convention. The principal accounting policies adopted are set out below.
1.2
Going concern
These financial statements have been drawn up on the going concern basis. If the going concern basis were not appropriate, adjustments would have been made to reduce assets to recoverable amounts, to provide for any further liabilities that might arise, and to re-classify fixed assets as current assets and long term liabilities as current liabilities.
1.3
Turnover
Revenue from the provision of property rental is recognised by reference to the period of its occupancy and where the amount of rent can be measured reliably.
1.4
Borrowing costs related to fixed assets
Borrowing costs directly attributable to the acquisition, construction or production of qualifying assets, which are assets that necessarily take a substantial period of time to get ready for their intended use or sale, are added to the cost of those assets, until such time as the assets are substantially ready for their intended use or sale.
All other borrowing costs are recognised in profit or loss in the period in which they are incurred.
1.5
Stocks
Inventories are made up of land, options over land and associated planning and development costs. Inventories are stated at the lower of cost and net realisable value, being the estimated selling price less costs to complete and sell.
Where it is determined that the completion of a development project is no longer probable, all previously incurred pre-development costs would be immediately expensed.
At each financial year end, the inventories are assessed for impairment. If inventories are impaired, the carrying amount is reduced to its net realisable value, calculated as its selling price less costs to complete and sell. The impairment loss is recognised immediately in the profit and loss account.
Options over land and professional costs incurred in connection with land development opportunities are included within inventory and are subject to impairment reviews at each balance sheet date.
ARIEL HOUSE (SHELDON) LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 30 NOVEMBER 2024
- 4 -
2
Judgements and key sources of estimation uncertainty
In the application of the company’s accounting policies, the directors are required to make judgements, estimates and assumptions about the carrying amount of assets and liabilities that are not readily apparent from other sources. The estimates and associated assumptions are based on historical experience and other factors that are considered to be relevant. Actual results may differ from these estimates.
The estimates and underlying assumptions are reviewed on an ongoing basis. Revisions to accounting estimates are recognised in the period in which the estimate is revised where the revision affects only that period, or in the period of the revision and future periods where the revision affects both current and future periods.
Critical judgements
The following judgements (apart from those involving estimates) have had the most significant effect on amounts recognised in the financial statements.
Stocks/inventories of pre-development work in progress
The company's principal judgement relates to the carrying value of its land, options over land and associated professional and planning fees held for development. The director continues to review these sites and planning risks associated.
Significant judgement is applied when evaluating both the feasibility and profitability of long term development projects ongoing at the year end and when reviewing the recoverability of development and pre-development costs included as stock of work in progress.
Where it is determined that the completion of a development project is no longer probable, all previously incurred pre-development costs would be immediately expensed. Where it is determined that the completion of a development project is probable, but the future selling price on the development project is less than the current net book value of the relating stock of work in progress, an impairment provision is made.
The company's activities involve it in a number of high value property and construction related contracts which, from time to time, result in commercial disputes, often in respect of valuations or project specifications. Most of these are amicably resolved in line with normal commercial practice. The director exercises judgement in assessing the likely outcome of disputes and whether a provision is required within the financial statements.
3
Employees
The average monthly number of persons (including directors) employed by the company during the year was:
2024
2023
Number
Number
Total
4
2
4
Debtors
2024
2023
Amounts falling due within one year:
£
£
Other debtors
57,650
ARIEL HOUSE (SHELDON) LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 30 NOVEMBER 2024
- 5 -
5
Creditors: amounts falling due within one year
2024
2023
£
£
Trade creditors
171,220
Amounts owed to group undertakings and undertakings in which the company has a participating interest
964,655
22,454
Other creditors
5,056
750
1,140,931
23,204
6
Creditors: amounts falling due after more than one year
2024
2023
£
£
Bank loans and overdrafts
3,852,895
7
Secured debts
The following secured debts are included within creditors:
2024
2023
£
£
Bank loans
3,852,895
-
Bank loans are secured by way of a fixed and floating charge over all assets of the company. together with a personal guarantee of £1,500,000.
8
Called up share capital
2024
2023
2024
2023
Ordinary share capital
Number
Number
£
£
Issued and fully paid
Ordinary A of £1 each
10
10
10
10
Ordinary of £1 each
10
0
10
20
10
20
10
9
Related party transactions
The company has taken advantage of exemption, under the terms of Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland', not to disclose related party transactions with wholly owned subsidiaries within the group.
10
Ultimate controlling party
There is no ultimate controlling party.