Archway Apartments Limited - Accounts to registrar (filleted) - small 22.3

Archway Apartments Limited - Accounts to registrar (filleted) - small 22.3

ARCHWAY APARTMENTS LIMITED - Company Information

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REGISTERED NUMBER: 09180845 (England and Wales)











Financial Statements

for the Year Ended 31 March 2022

for

ARCHWAY APARTMENTS LIMITED
ARCHWAY APARTMENTS LIMITED (REGISTERED NUMBER: 09180845)






Contents of the Financial Statements
for the Year Ended 31 March 2022




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


ARCHWAY APARTMENTS LIMITED

Company Information
for the Year Ended 31 March 2022







DIRECTORS: Mr M Gerrard
Mr J P Gerrard





REGISTERED OFFICE: 42 Lytton Road
Barnet
Hertfordshire
EN5 5BY





REGISTERED NUMBER: 09180845 (England and Wales)





ACCOUNTANTS: Jeff Lermer & Associates
Chartered Accountants
42 Lytton Road
Barnet
Hertfordshire
EN5 5BY
Page 1
ARCHWAY APARTMENTS LIMITED (REGISTERED NUMBER: 09180845)

Balance Sheet
31 March 2022

31.3.22 31.3.21
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 - 12,124
Investments 5 100 100
100 12,224

CURRENT ASSETS
Stocks 4,114,965 7,124,091
Debtors 6 5,007,308 8,397,013
Cash at bank 7,835 22,935
9,130,108 15,544,039
CREDITORS
Amounts falling due within one year 7 11,358,903 19,668,111
NET CURRENT LIABILITIES (2,228,795 ) (4,124,072 )
TOTAL ASSETS LESS CURRENT
LIABILITIES
(2,228,695
)
(4,111,848
)

CAPITAL AND RESERVES
Called up share capital 48 48
Retained earnings (2,228,743 ) (4,111,896 )
SHAREHOLDERS' FUNDS (2,228,695 ) (4,111,848 )

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 March 2022.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 March 2022 in accordance with Section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for:
(a)ensuring that the company keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006 and
(b)preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of each financial year and of its profit or loss for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the company.

The notes form part of these financial statements

Page 2 continued...
ARCHWAY APARTMENTS LIMITED (REGISTERED NUMBER: 09180845)

Balance Sheet - continued
31 March 2022


The financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 13 December 2022 and were signed on its behalf by:





Mr J P Gerrard - Director


The notes form part of these financial statements

Page 3
ARCHWAY APARTMENTS LIMITED (REGISTERED NUMBER: 09180845)

Notes to the Financial Statements
for the Year Ended 31 March 2022

1. STATUTORY INFORMATION

Archway Apartments Limited is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.

The presentation currency of the financial statements is the Pound Sterling (£).


2. ACCOUNTING POLICIES

Basis of preparing the financial statements
These financial statements have been prepared in accordance with Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" including the provisions of Section 1A "Small Entities" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.

Turnover
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.

Investments in subsidiaries
Investments in subsidiary undertakings are recognised at cost.

Stocks
Work in progress is valued at the lower of cost and estimated selling price less costs to sell, after making due allowance for obsolete and slow moving items.

Cost includes all purchase, transport and handling costs bringing stocks to their present location and condition.

Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Income Statement, except to the extent that it relates to items recognised in other comprehensive income or directly in equity.

Current or deferred taxation assets and liabilities are not discounted.

Current tax is recognised at the amount of tax payable using the tax rates and laws that have been enacted or substantively enacted by the balance sheet date.

Page 4 continued...
ARCHWAY APARTMENTS LIMITED (REGISTERED NUMBER: 09180845)

Notes to the Financial Statements - continued
for the Year Ended 31 March 2022

2. ACCOUNTING POLICIES - continued

Going concern
The accounts have been prepared on a going concern basis, since in the opinion of the directors, it is appropriate to assume that the company will receive the continued support from its shareholders and creditors.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was NIL (2021 - NIL).

4. TANGIBLE FIXED ASSETS
Plant and
machiner
etc
£   
COST
At 1 April 2021 12,955
Transfer to ownership (12,124 )
At 31 March 2022 831
DEPRECIATION
At 1 April 2021
and 31 March 2022 831
NET BOOK VALUE
At 31 March 2022 -
At 31 March 2021 12,124

5. FIXED ASSET INVESTMENTS
Shares in
group
undertaki
£   
COST
At 1 April 2021
and 31 March 2022 100
NET BOOK VALUE
At 31 March 2022 100
At 31 March 2021 100

Page 5 continued...
ARCHWAY APARTMENTS LIMITED (REGISTERED NUMBER: 09180845)

Notes to the Financial Statements - continued
for the Year Ended 31 March 2022

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.3.22 31.3.21
£    £   
Trade debtors 53,689 16,500
Amounts owed by group undertakings 4,946,560 8,350,500
Other debtors - 6,000
VAT 7,059 24,013
5,007,308 8,397,013

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.3.22 31.3.21
£    £   
Other loans (see note 8) 4,597,607 12,815,140
Trade creditors 973,127 564,915
Amounts owed to group undertakings 1,195,967 676,967
Other creditors 955,873 1,825,428
Loan - Financial Management
Ltd 809,887 809,887
Loan - IACAP Ltd 941,667 941,667
Loan - ANG Investments Ltd 941,667 941,667
Loan - HDB Brothers Ltd 941,667 941,667
Accruals and deferred income 1,441 150,773
11,358,903 19,668,111

8. LOANS

An analysis of the maturity of loans is given below:

31.3.22 31.3.21
£    £   
Amounts falling due within one year or on demand:
Other loans 4,597,607 12,815,140

Page 6 continued...
ARCHWAY APARTMENTS LIMITED (REGISTERED NUMBER: 09180845)

Notes to the Financial Statements - continued
for the Year Ended 31 March 2022

9. RELATED PARTY DISCLOSURES

At the balance sheet date, other creditors figure included an amounts payable to Financial Management Limited £809,887 (2021: £809,887) a share holder in the company. Interest charged on the balance due @6% p.a.

As at balance sheet date, an amount of £100 (2021: £406,967) was owed to Investland Ltd, a company in which Mr J P Gerrard and Mr M Gerrard are also directors.

As at balance sheet date, an amount of £1,085,867 (2021: £160,000) was owed to Shapes & Things Ltd, a company in which Mr J P Gerrard is also a director.

As at balance sheet date, an amount of £110,000 (2021: £110,000) was owed to Arctic Estates Dalston Ltd, a company in which Mr M Gerrard is also a director.

Page 7