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Registered number: 13417288
ARDGOWAN HOMES (SOUTH EAST) LTD
UNAUDITED
FINANCIAL STATEMENTS
INFORMATION FOR FILING WITH THE REGISTRAR
FOR THE YEAR ENDED 31 OCTOBER 2024
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ARDGOWAN HOMES (SOUTH EAST) LTD
REGISTERED NUMBER: 13417288
STATEMENT OF FINANCIAL POSITION
AS AT 31 OCTOBER 2024
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Debtors: amounts falling due within one year
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Creditors: amounts falling due within one year
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Total assets less current liabilities
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Creditors: amounts falling due after more than one year
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Provisions for liabilities
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ARDGOWAN HOMES (SOUTH EAST) LTD
REGISTERED NUMBER: 13417288
STATEMENT OF FINANCIAL POSITION (CONTINUED)
AS AT 31 OCTOBER 2024
The directors consider 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 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 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 on 30 October 2025.
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ARDGOWAN HOMES (SOUTH EAST) LTD
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 OCTOBER 2024
Ardgowan Homes (South East) Limited is a company limited by shares, incorporated in England and Wales. The address of the registered office is Unit 3 Cheapside Court, Ascot, Berkshire, United Kingdom, SL5 7RF.
The company is a property development company.
2.Accounting policies
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Basis of preparation of financial statements
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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:
The financial statements have been prepared on a going concern basis not withstanding the net liabilities of £26,335 (2023 - £44,889). The directors have provided an undertaking that they will continue to support the company for the foreseeable future to enable the company's liabilities to be met as they fall due and specifically for a period of not less than twelve months from the date of signing these financial statements. On this basis, the directors believes that the preparation of the accounts on a going concern basis is appropriate.
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ARDGOWAN HOMES (SOUTH EAST) LTD
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 OCTOBER 2024
2.Accounting policies (continued)
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. The following criteria must also be met before revenue is recognised:
Sale of goods
Revenue from the sale of goods is recognised when all of the following conditions are satisfied:
∙the Company has transferred the significant risks and rewards of ownership to the buyer;
∙the Company retains neither continuing managerial involvement to the degree usually associated with ownership nor effective control over the goods sold;
∙the amount of revenue can be measured reliably;
∙it is probable that the Company will receive the consideration due under the transaction; and
∙the costs incurred or to be incurred in respect of the transaction can be measured reliably.
Rendering of services
Revenue from a contract to provide services is recognised in the period in which the services are provided in accordance with the stage of completion of the contract when all of the following conditions are satisfied:
∙the amount of revenue can be measured reliably;
∙it is probable that the Company will receive the consideration due under the contract;
∙the stage of completion of the contract at the end of the reporting period can be measured reliably; and
∙the costs incurred and the costs to complete the contract can be measured reliably.
Finance costs are charged to the Statement of income and retained earnings over the term of the debt using the effective interest method so that the amount charged is at a constant rate on the carrying amount. Issue costs are initially recognised as a reduction in the proceeds of the associated capital instrument.
All borrowing costs are recognised in the Statement of income and retained earnings in the year in which they are incurred.
Stock is comprised of freehold and leasehold properties held for trading and is included in the financial statements at the lower of cost and net realisable value.
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ARDGOWAN HOMES (SOUTH EAST) LTD
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 OCTOBER 2024
2.Accounting policies (continued)
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.
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Cash and cash equivalents
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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.
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.
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Provisions for liabilities
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Provisions are recognised when an event has taken place that gives rise to a legal or constructive obligation, a transfer of economic benefits is probable and a reliable estimate can be made.
Provisions are measured as the best estimate of the amount required to settle the obligation, taking into account the related risks and uncertainties.
Increases in provisions are generally charged as an expense to profit or loss.
The average monthly number of employees, including directors, during the year was 4 (2023 - 4).
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Stock properties (at cost)
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ARDGOWAN HOMES (SOUTH EAST) LTD
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 OCTOBER 2024
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Cash and cash equivalents
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Creditors: Amounts falling due within one year
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Accruals and deferred income
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Bank overdrafts and loans are secured by a fixed and floating change over the assets of the company.
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ARDGOWAN HOMES (SOUTH EAST) LTD
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 OCTOBER 2024
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Creditors: Amounts falling due after more than one year
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Bank overdrafts and loans are secured by a fixed and floating change over the assets of the company.
Other loan amounts totalling £300,000 (2023 - £300,000) are secured over the stock properties of the company.
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Analysis of the maturity of loans is given below:
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Amounts falling due 1-2 years
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Charged to the Statement of comprehensive income
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Allotted, called up and fully paid
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4 Ordinary shares of £1 each
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ARDGOWAN HOMES (SOUTH EAST) LTD
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 OCTOBER 2024
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Related party transactions
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At the year end, an amount of £72,340 (2023 - £207,592) was due from a company controlled by a common director.
Included within creditors falling due within one year is an amount of £849,611 (2023 - £931,991) due to the directors of the company.
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The ultimate controlling party are the directors by virtue of their 100% shareholding in the company.
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