Abbreviated Company Accounts - ARN PROPERTIES LIMITED

ARN PROPERTIES LIMITED - Company Information

NI629260 ARN PROPERTIES LIMITED 2016-02-28 false 2015-02-10 2016-02-28 true NI629260 2015-02-10 2016-02-28 NI629260 2016-02-28 NI629260 uk-gaap-cd-bus:Director1 2015-02-10 2016-02-28 NI629260 uk-gaap-cd-bus:Director2 2015-02-10 2016-02-28 uk-gaap-cd-bus:OrdinaryShareClass1 2015-02-10 2016-02-28 uk-gaap-cd-bus:OrdinaryShareClass1 2016-02-28 iso4217:GBP shares

Registered Number NI629260

ARN PROPERTIES LIMITED

Abbreviated Accounts

28 February 2016

ARN PROPERTIES LIMITED Registered Number NI629260

Abbreviated Balance Sheet as at 28 February 2016

	Notes	2016
		£
Called up share capital not paid		-
Fixed assets
Tangible assets	2	2,445,237
		2,445,237
Current assets
Debtors		897,082
Cash at bank and in hand		41,060
		938,142
Creditors: amounts falling due within one year		(3,429,612)
Net current assets (liabilities)		(2,491,470)
Total assets less current liabilities		(46,233)
Total net assets (liabilities)		(46,233)
Capital and reserves
Called up share capital	3	1
Profit and loss account		(46,234)
Shareholders' funds		(46,233)

For the year ending 28 February 2016 the company was entitled to exemption under section 477 of the Companies Act 2006 relating to small companies.
The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
These accounts have been prepared in accordance with the provisions applicable to companies subject to the small companies regime.

Approved by the Board on 10 November 2016

And signed on their behalf by:
Mr A Nappin, Director

ARN PROPERTIES LIMITED Registered Number NI629260

Notes to the Abbreviated Accounts for the period ended 28 February 2016

1Accounting Policies

Basis of measurement and preparation of accounts
1.1 Accounting convention
The financial statements are prepared under the historical cost convention and in accordance with the Financial Reporting Standard for Smaller Entities (effective January 2015) and the Companies Act 2006.

1.2 Going concern
Although the company currently has a balance sheet deficit, the director has given assurances that he will continue to support the company. On that basis the director considers it appropriate to prepare the financial statements on a going concern basis.

1.3 Compliance with accounting standards
The financial statements are prepared in accordance with applicable United Kingdom Accounting
Standards (United Kingdom Generally Accepted Accounting Practice), which have been applied
consistently (except as otherwise stated).

Turnover policy
Turnover represents amounts receivable for goods and services net of VAT and trade discounts. Revenue is recognised in the period which it relates.

Tangible assets depreciation policy
Tangible fixed assets are stated at cost less depreciation. Depreciation is provided at rates calculated to write off the cost less estimated residual value of each asset over its expected useful life, as follows:

Fixtures, fittings & equipment 25% straight line

Investment properties are included in the balance sheet at their open market value. Depreciation is
provided only on those investment properties which are leasehold and where the unexpired lease term is less than 20 years.

Although this accounting policy is in accordance with the Financial Reporting Standard for Smaller Entities (effective April 2008), 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 director 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.

2Tangible fixed assets

	£
Cost
Additions	2,446,756
Disposals	-
Revaluations	-
Transfers	-
At 28 February 2016	2,446,756
Depreciation
Charge for the year	1,519
On disposals	-
At 28 February 2016	1,519
Net book values
At 28 February 2016	2,445,237

3Called Up Share Capital
Allotted, called up and fully paid:

	2016 £
100 Ordinary shares of £0.01 each	1