Arona Developments Ltd Filleted accounts for Companies House (small and micro)

COMPANY REGISTRATION NUMBER: NI046329

Arona Developments Ltd

Filleted Unaudited Financial Statements

Year ended

31 March 2025

Arona Developments Ltd

Statement of Financial Position

31 March 2025

	2025	2024
Note	£	£

Fixed assets

Tangible assets	5	445,474	568,904

Current assets

Stocks		1,996,181	2,169,299
Debtors	6	1,089,464	1,002,546
Cash at bank and in hand		529,057	788,726
		------------	------------
		3,614,702	3,960,571

Creditors: amounts falling due within one year	7	878,720	949,866
		------------	------------
Net current assets		2,735,982	3,010,705
		------------	------------
Total assets less current liabilities		3,181,456	3,579,609
		------------	------------

Capital and reserves

Called up share capital	30,000	30,000
Profit and loss account	3,151,456	3,549,609
	------------	------------
Shareholders funds	3,181,456	3,579,609
	------------	------------

These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with Section 1A of FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.

In accordance with section 444 of the Companies Act 2006, the statement of income and retained earnings has not been delivered.

For the year ending 31 March 2025 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Directors' responsibilities:

- 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 ;

- The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements .

These financial statements were approved by the board of directors and authorised for issue on 22 December 2025 , and are signed on behalf of the board by:

Mr A McDowell	Mrs J McDowell
Director	Director

Company registration number: NI046329

Arona Developments Ltd

Notes to the Financial Statements

Year ended 31 March 2025

1. General information

The company is a private company limited by shares, registered in Northern Ireland. The address of the registered office is 15 New Line, Waringstown, Craigavon, Co Armagh, BT66 7RY.

2. Statement of compliance

These financial statements have been prepared in compliance with Section 1A of FRS 102, 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland'.

3. Accounting policies

Basis of preparation

The financial statements have been prepared on the historical cost basis, as modified by the revaluation of certain financial assets and liabilities and investment properties measured at fair value through profit or loss.

The financial statements are prepared in sterling, which is the functional currency of the entity.

Revenue recognition

Turnover is measured at the fair value of the consideration received or receivable for goods supplied and services rendered, net of discounts and Value Added Tax. Revenue from the sale of goods is recognised when the significant risks and rewards of ownership have transferred to the buyer (usually on despatch of the goods); the amount of revenue can be measured reliably; it is probable that the associated economic benefits will flow to the entity; and the costs incurred or to be incurred in respect of the transactions can be measured reliably.

Income tax

The taxation expense represents the aggregate amount of current and deferred tax recognised in the reporting period. Tax is recognised in profit or loss, except to the extent that it relates to items recognised in other comprehensive income or directly in equity. In this case, tax is recognised in other comprehensive income or directly in equity, respectively. Current tax is recognised on taxable profit for the current and past periods. Current tax is measured at the amounts of tax expected to pay or recover using the tax rates and laws that have been enacted or substantively enacted at the reporting date.

Deferred tax is recognised in respect of all timing differences at the reporting date. Unrelieved tax losses and other deferred tax assets are recognised to the extent that 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 that are expected to apply to the reversal of the timing difference.

Tangible assets

Tangible assets are initially recorded at cost, and subsequently stated at cost less any accumulated depreciation and impairment losses. Any tangible assets carried at revalued amounts are recorded at the fair value at the date of revaluation less any subsequent accumulated depreciation and subsequent accumulated impairment losses. An increase in the carrying amount of an asset as a result of a revaluation, is recognised in other comprehensive income and accumulated in equity, except to the extent it reverses a revaluation decrease of the same asset previously recognised in profit or loss. A decrease in the carrying amount of an asset as a result of revaluation, is recognised in other comprehensive income to the extent of any previously recognised revaluation increase accumulated in equity in respect of that asset. Where a revaluation decrease exceeds the accumulated revaluation gains accumulated in equity in respect of that asset, the excess shall be recognised in profit or loss.

Depreciation

Depreciation is calculated so as to write off the cost or valuation of an asset, less its residual value, over the useful economic life of that asset as follows:

Computer Software	-	33% straight line
Plant and Machinery	-	33% straight line
Fixtures and Fittings	-	33% straight line
Motor Vehicles	-	20% straight line

	Office Equipment	-	33% straight line

Impairment of fixed assets

A review for indicators of impairment is carried out at each reporting date, with the recoverable amount being estimated where such indicators exist. Where the carrying value exceeds the recoverable amount, the asset is impaired accordingly. Prior impairments are also reviewed for possible reversal at each reporting date. For the purposes of impairment testing, when it is not possible to estimate the recoverable amount of an individual asset, an estimate is made of the recoverable amount of the cash-generating unit to which the asset belongs. The cash-generating unit is the smallest identifiable group of assets that includes the asset and generates cash inflows that largely independent of the cash inflows from other assets or groups of assets. For impairment testing of goodwill, the goodwill acquired in a business combination is, from the acquisition date, allocated to each of the cash-generating units that are expected to benefit from the synergies of the combination, irrespective of whether other assets or liabilities of the company are assigned to those units.

Stocks

Stocks are measured at the lower of cost and estimated selling price less costs to complete and sell. Cost includes all costs of purchase, costs of conversion and other costs incurred in bringing the stock to its present location and condition.

Financial instruments

Financial instruments are classified and accounted for, according to the substance of the contractual arrangement, as either financial assets, financial liabilities or equity instruments. An equity instrument is any contract that evidences a residual interest in the assets of the company after deducting all of its liabilities.

4. Employee numbers

The average number of persons employed by the company during the year amounted to 8 (2024: 8 ).

5. Tangible assets

	Land and buildings	Plant and machinery	Fixtures, fittings and equipment	Motor vehicles	Total
	£	£	£	£	£
Cost
At 1 April 2024	55,600	813,504	22,200	114,851	1,006,155
Additions	–	95,425	–	–	95,425
Disposals	–	( 20,000)	–	–	( 20,000)
	--------	---------	--------	---------	------------
At 31 March 2025	55,600	888,929	22,200	114,851	1,081,580
	--------	---------	--------	---------	------------
Depreciation
At 1 April 2024	1,360	386,187	21,757	27,947	437,251
Charge for the year	240	199,095	405	19,115	218,855
Disposals	–	( 20,000)	–	–	( 20,000)
	--------	---------	--------	---------	------------
At 31 March 2025	1,600	565,282	22,162	47,062	636,106
	--------	---------	--------	---------	------------
Carrying amount
At 31 March 2025	54,000	323,647	38	67,789	445,474
	--------	---------	--------	---------	------------
At 31 March 2024	54,240	427,317	443	86,904	568,904
	--------	---------	--------	---------	------------

6. Debtors

	2025	2024
	£	£
Trade debtors	303,012	211,792
Other debtors	786,452	790,754
	------------	------------
	1,089,464	1,002,546
	------------	------------

7. Creditors: amounts falling due within one year

	2025	2024
	£	£
Bank loans and overdrafts	–	799
Trade creditors	321,638	237,830
Amounts owed to group undertakings and undertakings in which the company has a participating interest	18,658	483,048
Corporation tax	320,536	64,924
Social security and other taxes	14,058	12,546
Other creditors	203,830	150,719
	---------	---------
	878,720	949,866
	---------	---------

8. Related party transactions

Banoge Holdings Limited, a company established in Northern Ireland holds 100% of the equity share capital in the Company and is the ultimate parent undertaking. The ultimate controlling parties are the directors, Aaron and Judith McDowell. At the year end Arona Developments Ltd owed Banoge Holdings Limited £18,658 (2024 £483,048) Arona Developments Ltd paid interest on this loan to Banoge Holdings Limited, the amount paid during the year was £1,103 (2024 £17,838). The company paid site fines to Banoge Holdings Ltd totalling £295,000. (2024 £320,000) Arona Developments Ltd is owed £60,800 from Banoge Properties Ltd. Banoge Properties Ltd is under the control of the same directors.