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Unaudited Financial Statements for the Year Ended 31 March 2022 |
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ARCHBURN INVESTMENTS LIMITED |
REGISTERED NUMBER:
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Unaudited Financial Statements for the Year Ended 31 March 2022 |
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for |
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ARCHBURN INVESTMENTS LIMITED |
ARCHBURN INVESTMENTS LIMITED (REGISTERED NUMBER: 00750594) |
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Contents of the Financial Statements |
for the year ended 31 March 2022 |
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Company Information | 1 |
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Statement of Financial Position | 2 |
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Notes to the Financial Statements | 4 |
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ARCHBURN INVESTMENTS LIMITED |
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Company Information |
for the year ended 31 March 2022 |
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DIRECTORS: |
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SECRETARY: |
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REGISTERED OFFICE: |
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REGISTERED NUMBER: |
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ACCOUNTANTS: |
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4th Floor |
Venture House |
27-29 Glasshouse Street |
London |
W1B 5DF |
ARCHBURN INVESTMENTS LIMITED (REGISTERED NUMBER: 00750594) |
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Statement of Financial Position |
31 March 2022 |
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2022 | 2021 |
Notes | £ | £ | £ | £ |
FIXED ASSETS |
Investments | 4 |
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Investment property | 5 |
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CURRENT ASSETS |
Debtors | 6 |
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Cash at bank |
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CREDITORS |
Amounts falling due within one year | 7 |
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NET CURRENT ASSETS |
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TOTAL ASSETS LESS CURRENT
LIABILITIES |
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PROVISIONS FOR LIABILITIES | 8 |
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NET ASSETS |
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CAPITAL AND RESERVES |
Called up share capital | 9 |
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Fair value reserve | 10 |
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Retained earnings | 10 |
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SHAREHOLDERS' FUNDS |
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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. |
ARCHBURN INVESTMENTS LIMITED (REGISTERED NUMBER: 00750594) |
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Statement of Financial Position - continued |
31 March 2022 |
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In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered. |
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The financial statements were approved by the Board of Directors and authorised for issue on
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ARCHBURN INVESTMENTS LIMITED (REGISTERED NUMBER: 00750594) |
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Notes to the Financial Statements |
for the year ended 31 March 2022 |
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1. | STATUTORY INFORMATION |
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Archburn Investments Limited is a
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The presentation currency of the financial statements is the Pound Sterling (£). |
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2. | ACCOUNTING POLICIES |
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Basis of preparing the financial statements |
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Turnover and revenue recognition |
Turnover consists of rents receivable from letting properties receivable from freehold interests in the ordinary course of business. |
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Rental revenues are recognised on the accruals basis. |
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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. |
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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. |
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Current or deferred taxation assets and liabilities are not discounted. |
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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 statement of financial position date. |
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Deferred tax |
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the statement of financial position date. |
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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. |
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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. |
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Cash and cash equivalents |
Cash and cash equivalents in the balance sheet comprise cash at banks and in hand and short term deposits with an original maturity date of three months or less. |
ARCHBURN INVESTMENTS LIMITED (REGISTERED NUMBER: 00750594) |
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Notes to the Financial Statements - continued |
for the year ended 31 March 2022 |
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2. | ACCOUNTING POLICIES - continued |
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Financial instruments |
The company has adopted section 11 of FRS 102 in respect of its basic financial instruments. |
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Basic financial assets |
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Trade and other debtors, amounts owed by related undertakings, cash and bank balances are initially recognised at transaction price and subsequently carried at amortised cost using the effective interest method. |
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At the end of each reporting period basic financial assets measured at amortised cost are assessed for objective evidence of impairment. If an asset is impaired the impairment loss is the difference between the carrying amount and the present value of the estimated cash flows discounted at the asset's original effective interest rate. The impairment loss is recognised in profit or loss. |
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If there is decrease in the impairment loss arising from an event occurring after the impairment was recognised the impairment is reversed. The reversal is such that the current carrying amount does not exceed what the carrying amount would have been had the impairment not previously been recognised. The impairment reversal is recognised in profit or loss. |
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Basic financial assets are derecognised when (a) the contractual rights to the cash flows from the assets expire or are settled, or (b) substantially all the risks and rewards of the ownership of the asset are transferred to another party who has the practical ability to unilaterally sell the asset to an unrelated third party without imposing additional restrictions. |
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Basic financial liabilities |
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Trade and other creditors, directors' current accounts and accruals are initially recognised at transaction price and subsequently carried at amortised cost, using the effective interest rate method. |
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Basic financial liabilities are derecognised when the contractual obligation is discharged, cancelled or expired. |
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Listed investment |
Listed investments relate to equity investments and are recognised initially at fair value which is normally the transaction price (but excludes any transaction costs, where the investment is subsequently measured at fair value through profit and loss). |
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Subsequently, they are measured at fair value through profit or loss except for those equity investments that are not publicly traded and whose fair value cannot otherwise be measured reliably which are recognised at cost less impairment until a reliable measure of fair value becomes available. If a reliable measure of fair value is no longer available, the equity instrument’s fair value on the last date the instrument was reliably measurable is treated as the cost of the instrument. |
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3. | EMPLOYEES AND DIRECTORS |
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The average number of employees during the year was
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ARCHBURN INVESTMENTS LIMITED (REGISTERED NUMBER: 00750594) |
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Notes to the Financial Statements - continued |
for the year ended 31 March 2022 |
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4. | FIXED ASSET INVESTMENTS |
Other |
investments |
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COST OR VALUATION |
At 1 April 2021 |
and 31 March 2022 |
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NET BOOK VALUE |
At 31 March 2022 |
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At 31 March 2021 |
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Cost or valuation at 31 March 2022 is represented by: |
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Other |
investments |
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Valuation in 2019 | 58,900 |
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5. | INVESTMENT PROPERTY |
Total |
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FAIR VALUE |
At 1 April 2021 |
and 31 March 2022 |
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NET BOOK VALUE |
At 31 March 2022 |
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At 31 March 2021 |
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6. | DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
2022 | 2021 |
£ | £ |
Other debtors |
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7. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
2022 | 2021 |
£ | £ |
Corporation tax |
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Rent deposit | 8,750 | 8,750 |
Directors' loan accounts | 520 | 1,560 |
Accruals and deferred income |
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8. | PROVISIONS FOR LIABILITIES |
2022 | 2021 |
£ | £ |
Deferred tax | 80,663 | 80,663 |
ARCHBURN INVESTMENTS LIMITED (REGISTERED NUMBER: 00750594) |
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Notes to the Financial Statements - continued |
for the year ended 31 March 2022 |
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8. | PROVISIONS FOR LIABILITIES - continued |
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Deferred |
tax |
£ |
Balance at 1 April 2021 |
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Balance at 31 March 2022 |
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Deferred tax liability is in relation to the revaluation of the investment property. |
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9. | CALLED UP SHARE CAPITAL |
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Allotted, issued and fully paid: |
Number: | Class: | Nominal | 2022 | 2021 |
value: | £ | £ |
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Ordinary | £1 | 99 | 99 |
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10. | RESERVES |
Fair |
Retained | value |
earnings | reserve | Totals |
£ | £ | £ |
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At 1 April 2021 |
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812,529 |
Profit for the year |
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At 31 March 2022 |
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855,909 |
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11. | RELATED PARTY DISCLOSURES |
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At the balance sheet date the company owed £520 to a director, C Owen. The amount is unsecured and interest fee, and there is no fixed date of repayment. |