Arnold Estate Associates Limited - Accounts to registrar (filleted) - small 18.2
Arnold Estate Associates Limited - Accounts to registrar (filleted) - small 18.2
REGISTERED NUMBER: |
UNAUDITED FINANCIAL STATEMENTS |
FOR THE PERIOD 7 MAY 2021 TO 31 MAY 2022 |
FOR |
ARNOLD ESTATE ASSOCIATES LIMITED |
ARNOLD ESTATE ASSOCIATES LIMITED (REGISTERED NUMBER: 13382130) |
CONTENTS OF THE FINANCIAL STATEMENTS |
FOR THE PERIOD 7 MAY 2021 TO 31 MAY 2022 |
Page |
Company Information | 1 |
Balance Sheet | 2 |
Notes to the Financial Statements | 3 |
ARNOLD ESTATE ASSOCIATES LIMITED |
COMPANY INFORMATION |
FOR THE PERIOD 7 MAY 2021 TO 31 MAY 2022 |
DIRECTORS: |
REGISTERED OFFICE: |
REGISTERED NUMBER: |
ACCOUNTANTS: |
The Old Casino |
28 Fourth Avenue |
Hove |
East Sussex |
BN3 2PJ |
ARNOLD ESTATE ASSOCIATES LIMITED (REGISTERED NUMBER: 13382130) |
BALANCE SHEET |
31 MAY 2022 |
Notes | £ |
CURRENT ASSETS |
Stocks | 3 |
CREDITORS |
Amounts falling due within one year | 4 |
NET CURRENT ASSETS |
TOTAL ASSETS LESS CURRENT LIABILITIES |
CREDITORS |
Amounts falling due after more than one year |
5 |
NET LIABILITIES | ( |
) |
CAPITAL AND RESERVES |
Called up share capital |
Retained earnings | ( |
) |
( |
) |
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 Income Statement has not been delivered. |
The financial statements were approved by the Board of Directors and authorised for issue on |
ARNOLD ESTATE ASSOCIATES LIMITED (REGISTERED NUMBER: 13382130) |
NOTES TO THE FINANCIAL STATEMENTS |
FOR THE PERIOD 7 MAY 2021 TO 31 MAY 2022 |
1. | ACCOUNTING POLICIES |
Basis of preparing the financial statements |
Stocks |
Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items. |
Taxation |
Taxation for the period 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. |
Deferred tax |
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date. |
Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from those in which they are recognised in financial statements. Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the period end and that are expected to apply to the reversal of the timing difference. |
Unrelieved tax losses and other deferred tax assets are recognised only to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits. |
Borrowing costs |
Borrowing costs directly attributable to the acquisition, construction or production of qualifying assets, which are assets that necessarily take a substantial period of time to get ready for their intended use or sale, are added to the cost of those assets, until such time as the assets are substantially ready for their intended use or sale. |
2. | EMPLOYEES AND DIRECTORS |
The average number of employees during the period was NIL. |
3. | STOCKS |
£ |
Stocks |
4. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
£ |
Directors' loan accounts | 108,632 |
Accrued expenses |
5. | CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR |
£ |
Bank loans more 5 yrs non-inst | 2,109,933 |
ARNOLD ESTATE ASSOCIATES LIMITED (REGISTERED NUMBER: 13382130) |
NOTES TO THE FINANCIAL STATEMENTS - continued |
FOR THE PERIOD 7 MAY 2021 TO 31 MAY 2022 |
5. | CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR - continued |
£ |
Amounts falling due in more than five years: |
Repayable otherwise than by instalments |
Bank loans more 5 yrs non-inst |
6. | DIRECTORS' ADVANCES, CREDITS AND GUARANTEES |
During the period, Mr D & Mrs J Arnold introduced a loan to the company. As at 31 May 2022, the company owed them £108,632. This balance represented the maximum amount outstanding during the period and the loan is interest free and repayable on demand. |
7. | ULTIMATE CONTROLLING PARTY |
The ultimate controlling party is |
This was by virtue of their 100% holding of the issued share capital. |
8. | CAPITALISED BORROWING COSTS |
Included within Stocks at 31 May 2022 are capitalised borrowing costs of £45,633. |