COMPANY REGISTRATION NUMBER:
SC629692
|
ARL Properties Scotland Limited |
|
|
Filleted Unaudited Abridged Financial Statements |
|
|
ARL Properties Scotland Limited |
|
|
Abridged Statement of Financial Position |
|
31 May 2025
Fixed assets
|
Tangible assets |
5 |
|
328,260 |
296,790 |
|
|
|
|
|
Current assets
|
Cash at bank and in hand |
4,226 |
|
105 |
|
|
|
|
|
Creditors: amounts falling due within one year |
376,147 |
|
98,924 |
|
--------- |
|
-------- |
|
Net current liabilities |
|
371,921 |
98,819 |
|
|
--------- |
--------- |
|
Total assets less current liabilities |
|
(
43,661) |
197,971 |
|
|
|
|
|
Creditors: amounts falling due after more than one year |
6 |
|
– |
212,400 |
|
|
-------- |
--------- |
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Net liabilities |
|
(
43,661) |
(
14,429) |
|
|
-------- |
--------- |
|
|
|
|
|
Capital and reserves
|
Called up share capital |
|
100 |
100 |
|
Profit and loss account |
|
(
43,761) |
(
14,529) |
|
|
-------- |
-------- |
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Shareholder deficit |
|
(
43,661) |
(
14,429) |
|
|
-------- |
-------- |
|
|
|
|
These abridged 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 abridged statement of income and retained earnings has not been delivered.
For the year ending 31 May 2025 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
Directors' responsibilities:
-
The member has not required the company to obtain an audit of its abridged 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 abridged financial statements
.
All of the members have consented to the preparation of the abridged statement of income and retained earnings and the abridged statement of financial position for the year ending 31 May 2025 in accordance with Section 444(2A) of the Companies Act 2006.
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ARL Properties Scotland Limited |
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Abridged Statement of Financial Position (continued) |
|
31 May 2025
These abridged financial statements were approved by the
board of directors
and authorised for issue on
14 May 2026
, and are signed on behalf of the board by:
|
Mr J Banks |
Mrs C Banks |
|
Director |
Director |
|
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Company registration number:
SC629692
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ARL Properties Scotland Limited |
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Notes to the Abridged Financial Statements |
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Year ended 31 May 2025
1.
General information
The company is a private company limited by shares, registered in Scotland. The address of the registered office is The Mechanics Workshop, New Lanark, Lanark, ML11 9DB, South Lanarkshire.
2.
Statement of compliance
These abridged 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 abridged 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 abridged financial statements are prepared in sterling, which is the functional currency of the entity.
Going concern
The accounts have been prepared on the going concern basis reflecting the continuing support of the directors, who intend to ensure there are sufficient funds to meet the company's working capital requirement for the foreseeable future.
Revenue recognition
Turnover is measured at the fair value of the consideration received or receivable and represents amounts receivable for rental properties.
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:
|
Plant and machinery |
- |
15% reducing balance |
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|
|
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Investment property
Investment property is initially recorded at cost, which includes purchase price and any directly attributable expenditure. Investment property is revalued to its fair value at each reporting date and any changes in fair value are recognised in profit or loss. If a reliable measure of fair value is no longer available without undue cost or effort for an item of investment property, it shall be transferred to tangible assets and treated as such until it is expected that fair value will be reliably measurable on an on-going basis.
Financial instruments
A financial asset or a financial liability is recognised only when the company becomes a party to the contractual provisions of the instrument. Basic financial instruments are initially recognised at the transaction price, unless the arrangement constitutes a financing transaction, where it is recognised at the present value of the future payments discounted at a market rate of interest for a similar debt instrument. Financial assets that are measured at cost or amortised cost are reviewed for objective evidence of impairment at the end of each reporting date.
If there is objective evidence of impairment, an impairment loss is recognised in profit or loss immediately. For all equity instruments regardless of significance, and other financial assets that are individually significant, these are assessed individually for impairment. Other financial assets are either assessed individually or grouped on the basis of similar credit risk characteristics. Any reversals of impairment are recognised in profit or loss immediately, to the extent that the reversal does not result in a carrying amount of the financial asset that exceeds what the carrying amount would have been had the impairment not previously been recognised.
4.
Employee numbers
The average number of employees during the year was nil (2024 : nil).
5.
Tangible assets
|
£ |
|
Cost |
|
|
At 1 June 2024 |
297,038 |
|
Additions |
327,520 |
|
Disposals |
(
295,919) |
|
--------- |
|
At 31 May 2025 |
328,639 |
|
--------- |
|
Depreciation |
|
|
At 1 June 2024 |
248 |
|
Charge for the year |
131 |
|
--------- |
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At 31 May 2025 |
379 |
|
--------- |
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Carrying amount |
|
|
At 31 May 2025 |
328,260 |
|
--------- |
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At 31 May 2024 |
296,790 |
|
--------- |
|
|
The directors have considered the valuation in line with market rates of similar properties at the end of each reporting period.
6.
Creditors:
amounts falling due after more than one year
Included within creditors: amounts falling due after more than one year is an amount of £212,400 (2023 : £212,400) in respect of liabilities which fall due for payment after more than five years from the reporting date.
7.
Charges on assets
Creditors include bank loans which are secured of £Nil (2024 : £212,400).
8.
Directors' advances, credits and guarantees
The directors' loan account was not in debit at any time during the current or previous year.
9.
Related party transactions
The company's shareholder, A C Bank Limited, has provided funds and paid costs on its behalf and a balance of £79,400 (2024 - £79,400) is included in creditors.