Arrowband Limited - Accounts to registrar (filleted) - small 23.1.2
Arrowband Limited - Accounts to registrar (filleted) - small 23.1.2
REGISTERED NUMBER: |
UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 SEPTEMBER 2022 |
FOR |
ARROWBAND LIMITED |
ARROWBAND LIMITED (REGISTERED NUMBER: 02327874) |
CONTENTS OF THE FINANCIAL STATEMENTS |
FOR THE YEAR ENDED 30 SEPTEMBER 2022 |
Page |
Company Information | 1 |
Balance Sheet | 2 |
Notes to the Financial Statements | 4 |
ARROWBAND LIMITED |
COMPANY INFORMATION |
FOR THE YEAR ENDED 30 SEPTEMBER 2022 |
DIRECTOR: |
REGISTERED OFFICE: |
REGISTERED NUMBER: |
ACCOUNTANTS: |
Chartered Accountants |
2 Jordan Street |
Knott Mill |
Manchester |
M15 4PY |
ARROWBAND LIMITED (REGISTERED NUMBER: 02327874) |
BALANCE SHEET |
30 SEPTEMBER 2022 |
30.9.22 | 30.9.21 |
Notes | £ | £ | £ | £ |
FIXED ASSETS |
Tangible assets | 4 |
Investment property | 5 |
CURRENT ASSETS |
Debtors | 6 |
Cash at bank |
CREDITORS |
Amounts falling due within one year | 7 |
NET CURRENT (LIABILITIES)/ASSETS | ( |
) |
TOTAL ASSETS LESS CURRENT LIABILITIES |
PROVISIONS FOR LIABILITIES |
NET ASSETS |
CAPITAL AND RESERVES |
Called up share capital |
Share premium | 8 |
Other reserves | 8 |
Retained earnings | 8 |
The director acknowledges her 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. |
ARROWBAND LIMITED (REGISTERED NUMBER: 02327874) |
BALANCE SHEET - continued |
30 SEPTEMBER 2022 |
In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered. |
The financial statements were approved by the director and authorised for issue on |
ARROWBAND LIMITED (REGISTERED NUMBER: 02327874) |
NOTES TO THE FINANCIAL STATEMENTS |
FOR THE YEAR ENDED 30 SEPTEMBER 2022 |
1. | STATUTORY INFORMATION |
Arrowband Limited is a private company limited by shares, registered in England and Wales. The company's registered number is 02327874 and its registered office is at 75-83 Leasowe Road, Wallasey, Wirral, CH45 8NZ. |
The principal activity of the Company is property investment. |
The financial statements are presented in Sterling, which is also the functional currency of the Company. |
2. | ACCOUNTING POLICIES |
Basis of preparing the financial statements |
At the balance sheet date the company had net current liabilities of £1,363,303 (2021: £nil). The director is satisfied that the company has sufficiently cash generative assets that, coupled with the ongoing support of certain creditors, the going concern basis remains appropriate. |
Turnover |
Turnover is measured at the fair value of rents receivable for the period, excluding discounts or rebates. |
Tangible fixed assets |
Plant and machinery etc | - |
Investment property |
Investment property is shown at most recent valuation. Any aggregate surplus or deficit arising from changes in fair value is recognised in the income statement. Fair value gains or losses are ultimately presented as non-distributable other reserves at each balance sheet date by virtue of subsequent transfers between retained earnings and other reserves. |
Depreciation is not provided in respect of investment properties. Although this accounting policy is in accordance with the Financial Reporting Standard 102, it is a departure from the general requirement of the Companies Act 2006 for all tangible assets to be depreciated. In the opinion of the directors compliance with the standard is necessary for the financial statements to give a true and fair view. Depreciation or amortisation is only one of many factors reflected in the annual valuation and the amount of this which might otherwise have been charged cannot be separately identified or quantified. |
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. |
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 year 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. |
ARROWBAND LIMITED (REGISTERED NUMBER: 02327874) |
NOTES TO THE FINANCIAL STATEMENTS - continued |
FOR THE YEAR ENDED 30 SEPTEMBER 2022 |
2. | ACCOUNTING POLICIES - continued |
Financial instruments |
Financial instruments are classified and accounted for, according to the substance of the contractual arrangement, as 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. |
Financial assets, which are measured on a non-discounted basis at transaction price less any necessary impairment, comprise trade debtors plus credit bank balances. |
Financial liabilities, which are similarly measured on a non-discounted basis at transaction price less any necessary impairment, comprise related company creditors; other creditors and accruals. |
3. | EMPLOYEES AND DIRECTORS |
The average number of employees during the year was NIL (2021 - NIL). |
4. | TANGIBLE FIXED ASSETS |
Plant and |
machinery |
etc |
£ |
COST |
At 1 October 2021 |
and 30 September 2022 |
DEPRECIATION |
At 1 October 2021 |
and 30 September 2022 |
NET BOOK VALUE |
At 30 September 2022 |
5. | INVESTMENT PROPERTY |
Total |
£ |
FAIR VALUE |
At 1 October 2021 |
Additions |
At 30 September 2022 |
NET BOOK VALUE |
At 30 September 2022 |
At 30 September 2021 |
If investment properties had not been revalued they would have been included at an historical cost of £3,719,318 (2021: £2,042,282). |
Investment properties were professionally valued on an open market basis on 21 October 2021. The directors consider it appropriate to reflect the valuation as fair value at 30 September 2022. |
6. | DEBTORS |
30.9.22 | 30.9.21 |
£ | £ |
Amounts falling due within one year: |
Other debtors |
ARROWBAND LIMITED (REGISTERED NUMBER: 02327874) |
NOTES TO THE FINANCIAL STATEMENTS - continued |
FOR THE YEAR ENDED 30 SEPTEMBER 2022 |
6. | DEBTORS - continued |
30.9.22 | 30.9.21 |
£ | £ |
Amounts falling due after more than one year: |
Other debtors |
Aggregate amounts |
7. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
30.9.22 | 30.9.21 |
£ | £ |
Amounts owed to related undertakings |
Taxation and social security |
Other creditors |
8. | RESERVES |
Reserves include other reserves, which are non-distributable profit reserves representing fair valuation gains on investment property and stated after deduction of provision for deferred tax which has been recognised in respect of the gains. |