Arden Grange Limited - Accounts to registrar (filleted) - small 18.2

REGISTERED NUMBER: 09586065 (England and Wales)

UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MAY 2018

FOR

ARDEN GRANGE LIMITED

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

3

DIRECTOR:

K S Sura

REGISTERED OFFICE:

1110 Elliott Court

Coventry Business Park

Herald Avenue

Coventry

West Midlands

CV5 6UB

REGISTERED NUMBER:

09586065 (England and Wales)

ACCOUNTANTS:

LDP Luckmans

1110 Elliott Court

Coventry Business Park

Herald Avenue

Coventry

West Midlands

CV5 6UB

FIXED ASSETS

Tangible assets

4

7,850

-

CURRENT ASSETS

Stocks

2,742,014

1,679,904

Debtors

5

47,964

18,622

Cash at bank and in hand

6,294

125,376

2,796,272

1,823,902

CREDITORS

Amounts falling due within one year

6

3,339,523

1,957,734

NET CURRENT LIABILITIES

(543,251

)

(133,832

)

TOTAL ASSETS LESS CURRENT LIABILITIES

(535,401

)

(133,832

)

PROVISIONS FOR LIABILITIES

1,492

-

NET LIABILITIES

(536,893

)

(133,832

)

CAPITAL AND RESERVES

Called up share capital

10

10

Retained earnings

(536,903

)

(133,842

)

(536,893

)

(133,832

)

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 May 2018.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 May 2018 in accordance with Section 476 of the Companies Act 2006.

The director acknowledges his 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 financial statements have been prepared and delivered in accordance with the provisions of Part 15 of the Companies Act 2006 relating to small companies.

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 on 28 March 2019 and were signed by:

K S Sura - Director

1.	STATUTORY INFORMATION

Arden Grange 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 preparation

These financial statements have been prepared in accordance with the provisions of Section 1A "Small Entities" of Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.

Tangible fixed assets

Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.

Motor vehicles

-

25% on reducing balance

Stocks

Work in progress is valued at the lower of cost and net realisable value.

Cost is calculated using the first-in, first-out method and includes all purchase, transport, and handling

costs in bringing stocks to their present location and condition.

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.

Going concern

At 31st May 2018, the company had total liabilities of £3,341,015 and total assets of £2,804,122.

Therefore liabilities exceeded assets by £536,893 at the balance sheet date. The business continues

to trade due to the ongoing support of the director and the bank. If the going concern basis were not to

apply, adjustments to the financial statements would be necessary to value assets and liabilities on a

net realisable basis.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was NIL (2017 - NIL).

4.	TANGIBLE FIXED ASSETS

Motor

vehicles

£

COST

Additions

9,830

At 31 May 2018

9,830

DEPRECIATION

Charge for year

1,980

At 31 May 2018

1,980

NET BOOK VALUE

At 31 May 2018

7,850

5.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2018

2017

£

£

VAT

47,964

18,622

6.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2018

2017

£

£

Bank loans and overdrafts

2,439,228

1,046,359

Loan from family

455,989

463,506

Other loan

80,965

74,965

Trade creditors

222,623

114,052

Amounts owed to associates

118,420

149,031

Directors' current accounts

13,741

104,821

Accrued expenses

8,557

5,000

3,339,523

1,957,734

7.	SECURED DEBTS

The following secured debts are included within creditors:

2018

2017

£

£

Bank loans

2,439,228

1,046,359