Arena Farnborough Limited - Accounts to registrar (filleted) - small 18.2
Arena Farnborough Limited - Accounts to registrar (filleted) - small 18.2
| REGISTERED NUMBER: |
| Arena Farnborough Limited |
| Unaudited Financial Statements |
| for the Year Ended 30 June 2021 |
| Arena Farnborough Limited (Registered number: 09235522) |
| Contents of the Financial Statements |
| for the Year Ended 30 June 2021 |
| Page |
| Company Information | 1 |
| Balance Sheet | 2 |
| Notes to the Financial Statements | 4 |
| Arena Farnborough Limited |
| Company Information |
| for the Year Ended 30 June 2021 |
| DIRECTORS: |
| REGISTERED OFFICE: |
| REGISTERED NUMBER: |
| Arena Farnborough Limited (Registered number: 09235522) |
| Balance Sheet |
| 30 June 2021 |
| 2021 | 2020 |
| Notes | £ | £ |
| FIXED ASSETS |
| Investment property | 5 |
| CREDITORS |
| Amounts falling due within one year | 6 | ( |
) | ( |
) |
| NET CURRENT LIABILITIES | ( |
) | ( |
) |
| TOTAL ASSETS LESS CURRENT LIABILITIES |
| CREDITORS |
| Amounts falling due after more than one year | 7 | ( |
) | ( |
) |
| PROVISIONS FOR LIABILITIES | ( |
) | ( |
) |
| NET ASSETS |
| CAPITAL AND RESERVES |
| Share capital | 8 |
| Investment property revaluation reserve |
| Profit and loss account |
| SHAREHOLDERS' FUNDS |
| Arena Farnborough Limited (Registered number: 09235522) |
| Balance Sheet - continued |
| 30 June 2021 |
| 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. |
| In accordance with Section 444 of the Companies Act 2006, the Profit and Loss Account has not been delivered. |
| The financial statements were approved by the Board of Directors and authorised for issue on |
| Arena Farnborough Limited (Registered number: 09235522) |
| Notes to the Financial Statements |
| for the Year Ended 30 June 2021 |
| 1. | GENERAL INFORMATION |
| The company is a private company limited by share capital, incorporated in England and Wales. |
| The address of its registered office is: |
| 118 Old Milton Road |
| New Milton |
| Hampshire |
| BH25 6EB |
| England |
| 2. | STATEMENT OF COMPLIANCE |
| These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A - 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' and the Companies Act 2006. |
| 3. | ACCOUNTING POLICIES |
| BASIS OF PREPARATION |
| These financial statements have been prepared using the historical cost convention except that as disclosed in theaccounting policies certain items are shown at fair value. |
| The company's functional and presentational currency is pound sterling. |
| SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES AND KEY ACCOUNTING ESTIMATES |
| The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated. |
| GOING CONCERN |
| The financial statements have been prepared on a going concern basis despite the excess of liabilities over assets at the balance sheet date. The company will continue to receive support from group companies for the foreseeable future. |
| TURNOVER |
| Turnover represents rents receivable, which are credited to revenue in the accounting period in which they are receivable. |
| INVESTMENT PROPERTY |
| Investment property is carried at fair value, derived from the current market prices for comparable real estate determined annually by external valuers. The valuers use observable market prices, adjusted if necessary for any difference in the nature, location or condition of the specific asset. Changes in fair value are recognised in profit or loss, which have been disclosed as a separate component of shareholders' funds, the Investment Property Revaluation Reserve. |
| Arena Farnborough Limited (Registered number: 09235522) |
| Notes to the Financial Statements - continued |
| for the Year Ended 30 June 2021 |
| 3. | ACCOUNTING POLICIES - continued |
| TAX |
| The tax expense for the period comprises current and deferred tax. Tax is recognised in profit or loss, except that a change attributable to an item of income or expense recognised as other comprehensive income is also recognised directly in other comprehensive income. |
| The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the reporting date in the countries where the company operates and generates taxable income. |
| Deferred tax is recognised in respect of all timing differences between taxable profits and profits reported in the financial statements. |
| Unrelieved tax losses and other deferred tax assets are recognised when 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 and that are expected to apply to the reversal of the timing difference. |
| HIRE PURCHASE AND LEASING |
| Assets held under finance leases, which are leases where substantially all the risks and rewards of ownership of the asset have passed to the company, are capitalised in the balance sheet as tangible fixed assets and are depreciated over the shorter of the lease term and their useful lives. The capital elements of future obligations under the leases are included as liabilities in the balance sheet. The interest element of the rental obligation is charged to the profit and loss account over the period of the lease and represents a constant proportion of the balance of capital repayments outstanding. Assets held under hire purchase agreements are capitalised as tangible fixed assets and are depreciated over the shorter of the lease term and their useful lives. The capital element of future finance payments is included within creditors. Finance charges are allocated to accounting periods over the length of the contract and represent a constant proportion of the balance of capital repayments outstanding. |
| SHARE CAPITAL |
| Ordinary shares are classified as equity. Equity instruments are measured at the fair value of the cash or other resources received or receivable, net of the direct costs of issuing the equity instruments. If payment is deferred and the time value of money is material, the initial measurement is on a present value basis. |
| 4. | EMPLOYEES AND DIRECTORS |
| The average number of employees during the year was |
| 5. | INVESTMENT PROPERTY |
| Total |
| £ |
| FAIR VALUE |
| At 1 July 2020 |
| Additions |
| At 30 June 2021 |
| NET BOOK VALUE |
| At 30 June 2021 |
| At 30 June 2020 |
| Arena Farnborough Limited (Registered number: 09235522) |
| Notes to the Financial Statements - continued |
| for the Year Ended 30 June 2021 |
| 6. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
| 2021 | 2020 |
| £ | £ |
| Finance leases |
| Amounts owed to group undertakings |
| Corporation tax |
| 7. | CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR |
| 2021 | 2020 |
| £ | £ |
| Finance leases |
| Amounts falling due in more than five years: |
| Repayable by instalments |
| Finance leases | 1,591,008 | 1,591,380 |
| 8. | SHARE CAPITAL |
| Allotted, issued and fully paid: |
| Number: | Class: | Nominal | 2021 | 2020 |
| value: | £ | £ |
| Ordinary shares | £1 | 1 | 1 |