Ardane Limited - Accounts to registrar (filleted) - small 23.1.2

Ardane Limited - Accounts to registrar (filleted) - small 23.1.2

ARDANE LIMITED - Company Information

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REGISTERED NUMBER: 04642522 (England and Wales)















ARDANE LIMITED

FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 JANUARY 2023





The Rees Partnership
Bentley Bridge House
Chesterfield Road
Matlock
Derbyshire
DE4 5LE








ARDANE LIMITED (REGISTERED NUMBER: 04642522)

CONTENTS OF THE FINANCIAL STATEMENTS
For The Year Ended 31 January 2023










Page

Company Information 1

Abridged Balance Sheet 2 to 3

Notes to the Financial Statements 4 to 7


ARDANE LIMITED

COMPANY INFORMATION
For The Year Ended 31 January 2023







DIRECTORS: E J Gallagher
G C Morton
R A Cutt





REGISTERED OFFICE: 54 Knifesmithgate
Chesterfield
Derbyshire
S40 1RQ





REGISTERED NUMBER: 04642522 (England and Wales)





ACCOUNTANTS: The Rees Partnership
Bentley Bridge House
Chesterfield Road
Matlock
Derbyshire
DE4 5LE
Page 1
ARDANE LIMITED (REGISTERED NUMBER: 04642522)

ABRIDGED BALANCE SHEET
31 January 2023

2023 2022
as restated
Notes £    £   
FIXED ASSETS
Tangible assets 4 135 180
Investments 5 46,761 39,282
Investment property 6 1,260,000 1,250,000
1,306,896 1,289,462

CURRENT ASSETS
Debtors 1,115 -
Prepayments and accrued income 1,628 1,248
Cash at bank 5,380 2,984
8,123 4,232
CREDITORS
Amounts falling due within one year (311,247 ) (354,909 )
NET CURRENT LIABILITIES (303,124 ) (350,677 )
TOTAL ASSETS LESS CURRENT
LIABILITIES
1,003,772
938,785

PROVISIONS FOR LIABILITIES (30,977 ) (21,916 )
NET ASSETS 972,795 916,869

CAPITAL AND RESERVES
Called up share capital 70,000 70,000
Fair value reserve 8 420,868 384,776
Retained earnings 481,927 462,093
SHAREHOLDERS' FUNDS 972,795 916,869

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 January 2023.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 January 2023 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...
ARDANE LIMITED (REGISTERED NUMBER: 04642522)

ABRIDGED BALANCE SHEET - continued
31 January 2023


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

All the members have consented to the preparation of an abridged Balance Sheet for the year ended 31 January 2023 in accordance with Section 444(2A) of the Companies Act 2006.

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 18 July 2023 and were signed on its behalf by:





E J Gallagher - Director


The notes form part of these financial statements

Page 3
ARDANE LIMITED (REGISTERED NUMBER: 04642522)

NOTES TO THE FINANCIAL STATEMENTS
For The Year Ended 31 January 2023


1. STATUTORY INFORMATION

Ardane 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.

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 as modified by the revaluation of certain assets.

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.
Plant and machinery etc - 25% on reducing balance

Investments in associates
Investments in associate undertakings are recognised at most recent valuation.

Investment property
Investment property is shown at most recent valuation. Any aggregate surplus or deficit arising from changes in fair value is recognised in profit or loss.

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.

Page 4 continued...
ARDANE LIMITED (REGISTERED NUMBER: 04642522)

NOTES TO THE FINANCIAL STATEMENTS - continued
For The Year Ended 31 January 2023


2. ACCOUNTING POLICIES - continued

Hire purchase and leasing commitments
Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease.

Assets held under finance leases and hire purchase contracts, which are those where substantially all the risks and rewards of ownership of the asset have passed to the company, are capitalised in the balance sheet and depreciated over their useful lives. The corresponding lease or hire purchase obligation is treated in the balance sheet as a liability.

The interest element of the rental obligations 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.

Rentals paid under operating leases are charged to income on as incurred over the lease term.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was NIL (2022 - NIL).

4. TANGIBLE FIXED ASSETS
Totals
£   
COST
At 1 February 2022
and 31 January 2023 18,482
DEPRECIATION
At 1 February 2022 18,302
Charge for year 45
At 31 January 2023 18,347
NET BOOK VALUE
At 31 January 2023 135
At 31 January 2022 180

5. FIXED ASSET INVESTMENTS

Information on investments other than loans is as follows:
Totals
£   
COST OR VALUATION
At 1 February 2022 39,282
Revaluations 7,479
At 31 January 2023 46,761
NET BOOK VALUE
At 31 January 2023 46,761
At 31 January 2022 39,282

Page 5 continued...
ARDANE LIMITED (REGISTERED NUMBER: 04642522)

NOTES TO THE FINANCIAL STATEMENTS - continued
For The Year Ended 31 January 2023


5. FIXED ASSET INVESTMENTS - continued

Cost or valuation at 31 January 2023 is represented by:
Totals
£   
Valuation in 2023 46,721
Cost 40
46,761

6. INVESTMENT PROPERTY
Total
£   
FAIR VALUE
At 1 February 2022 1,250,000
Disposals (27,675 )
Revaluations 37,675
At 31 January 2023 1,260,000
NET BOOK VALUE
At 31 January 2023 1,260,000
At 31 January 2022 1,250,000

Fair value at 31 January 2023 is represented by:
£   
Valuation in 2023 405,125
Cost 854,875
1,260,000

If investment properties had not been revalued they would have been included at the following historical cost:

2023 2022
as restated
£    £   
Cost 854,875 882,550

Investment properties were valued on an open market basis on 31 January 2023 by the directors .

Page 6 continued...
ARDANE LIMITED (REGISTERED NUMBER: 04642522)

NOTES TO THE FINANCIAL STATEMENTS - continued
For The Year Ended 31 January 2023


7. SECURED DEBTS

The following secured debts are included within creditors:

2023 2022
as restated
£    £   
Bank loans 45,000 202,000

Bank borrowings are secured by fixed and floating charges over the company's assets.

8. RESERVES
Fair
value
reserve
£   
At 1 February 2022 384,776
Movement in the year 36,092

At 31 January 2023 420,868

9. RELATED PARTY DISCLOSURES

Creditors include:

A loan from Sil-brite Limited of £125,000 (2022: £Nil). Maximum amount £125,000. This company is controlled by the Cutt family.

A loan from R Cutt of £119,400 (2022: £119,400). Maximum amount £119,400. R Cutt is a relation of the directors.

The loans are provided interest free and are repayable on demand.

10. ULTIMATE CONTROLLING PARTY

The company is controlled by the trustees of the SER Family Discretionary Trust and the RRE No. 1 Discretionary Trust by virtue of the trusts' shareholdings. The directors are the trustees to these trusts.

Page 7