ARO INVESTMENTS LIMITED Filleted accounts for Companies House (small and micro)

ARO INVESTMENTS LIMITED - Company Information

2 false false false false false false false false false true false false false false false false No description of principal activity 2021-04-01 Sage Accounts Production Advanced 2021 - FRS102_2021 985,000 985,000 985,000 xbrli:pure xbrli:shares iso4217:GBP 06336896 2021-04-01 2022-03-31 06336896 2022-03-31 06336896 2020-04-01 2021-03-31 06336896 2021-03-31 06336896 bus:OrdinaryShareClass1 2021-04-01 2022-03-31 06336896 bus:Director1 2021-04-01 2022-03-31 06336896 core:AfterOneYear 2022-03-31 06336896 core:AfterOneYear 2021-03-31 06336896 core:WithinOneYear 2022-03-31 06336896 core:WithinOneYear 2021-03-31 06336896 core:ShareCapital 2022-03-31 06336896 core:ShareCapital 2021-03-31 06336896 core:RetainedEarningsAccumulatedLosses 2022-03-31 06336896 core:RetainedEarningsAccumulatedLosses 2021-03-31 06336896 bus:SmallEntities 2021-04-01 2022-03-31 06336896 bus:AuditExemptWithAccountantsReport 2021-04-01 2022-03-31 06336896 bus:FullAccounts 2021-04-01 2022-03-31 06336896 bus:SmallCompaniesRegimeForAccounts 2021-04-01 2022-03-31 06336896 bus:PrivateLimitedCompanyLtd 2021-04-01 2022-03-31 06336896 bus:OrdinaryShareClass1 2022-03-31 06336896 bus:OrdinaryShareClass1 2021-03-31 06336896 core:InvestmentPropertyIncludedWithinPPE 2022-03-31 06336896 core:InvestmentPropertyIncludedWithinPPE 2021-03-31 06336896 core:EntitiesControlledByKeyManagementPersonnel 2021-04-01 2022-03-31

COMPANY REGISTRATION NUMBER: 06336896

ARO INVESTMENTS LIMITED

Filleted Unaudited Financial Statements

31 March 2022

ARO INVESTMENTS LIMITED

Statement of Financial Position

31 March 2022

	2022	2021
Note	£	£

Fixed assets

Tangible assets	5	985,000	985,000

Current assets

Cash at bank and in hand	2	2

Creditors: amounts falling due within one year	6	51,124	53,539
		---------	---------
Net current liabilities		51,122	53,537
		---------	---------
Total assets less current liabilities		933,878	931,463

Creditors: amounts falling due after more than one year	7	768,034	768,037
		---------	---------
Net assets		165,844	163,426
		---------	---------

Capital and reserves

Called up share capital	8	2	2
Profit and loss account		165,842	163,424
		---------	---------
Shareholders funds		165,844	163,426
		---------	---------

These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with Section 1A of FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.

In accordance with section 444 of the Companies Act 2006, the statement of income and retained earnings has not been delivered.

For the year ending 31 March 2022 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Directors' responsibilities:

- The members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476 ;

- The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements .

These financial statements were approved by the board of directors and authorised for issue on 26 September 2022 , and are signed on behalf of the board by:

M A Owen
Director

Company registration number: 06336896

ARO INVESTMENTS LIMITED

Notes to the Financial Statements

Year ended 31 March 2022

1. General information

The company is a private company limited by shares, registered in England and Wales. The address of the registered office is 1 St. Johns Mews, St. Johns Street, Bridgnorth, Shropshire, WV15 6AG.

2. Statement of compliance

These financial statements have been prepared in compliance with Section 1A of FRS 102, 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland'.

3. Accounting policies

Basis of preparation

The financial statements have been prepared on the historical cost basis, as modified by the revaluation of certain financial assets and liabilities and investment properties measured at fair value through profit or loss.

The financial statements are prepared in sterling, which is the functional currency of the entity.

Investment property

Investment property is initially recorded at cost, which includes purchase price and any directly attributable expenditure.

Investment property is revalued to its fair value at each reporting date and any changes in fair value are recognised in profit or loss. Fair value is determined by the directors and not an independent valuer and is based on the changes in value of similar properties in the surrounding area.

If a reliable measure of fair value is no longer available without undue cost or effort for an item of investment property, it shall be transferred to tangible assets and treated as such until it is expected that fair value will be reliably measurable on an on-going basis.

This is in accordance with FRS 102 section 16 which, unlike the Companies Act 2006, does not require depreciation of investment properties. Investment properties are held for their investment potential and not for use by the company and so their current value is of prime importance. The departure from the provisions of the Act is required in order to give a true and fair view and to ensure compliance with FRS 102 section 2.

Management has concluded that the financial statements present fairly the company's financial position, financial performance and cash flows. Management also concludes that the company has complied with applicable legislation, except that it has departed from a particular requirement of the applicable legislation to achieve a fair presentation.

There are no restrictions on the realisability of investment property or the remittance of income and proceeds of disposal. There are no contractual obligations to purchase, construct or develop the investment property or for repairs, maintenance or enhancements.

Judgements and key sources of estimation uncertainty

The preparation of the financial statements requires management to make judgements, estimates and assumptions that affect the amounts reported. These estimates and judgements are continually reviewed and are based on experience and other factors, including expectations of future events that are believed to be reasonable under the circumstances.

Income tax

Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date where transactions or events have occurred at that date that will result in an obligation to pay more, or a right to pay less or to receive more tax. Deferred tax is measured on an undiscounted basis at the tax rates that are expected to apply in the periods in which timing differences reverse, based on tax rates and laws enacted or substantively enacted at the balance sheet date.

Tangible assets

Tangible assets are initially recorded at cost, and subsequently stated at cost less any accumulated depreciation and impairment losses. Any tangible assets carried at revalued amounts are recorded at the fair value at the date of revaluation less any subsequent accumulated depreciation and subsequent accumulated impairment losses. An increase in the carrying amount of an asset as a result of a revaluation, is recognised in other comprehensive income and accumulated in equity, except to the extent it reverses a revaluation decrease of the same asset previously recognised in profit or loss. A decrease in the carrying amount of an asset as a result of revaluation, is recognised in other comprehensive income to the extent of any previously recognised revaluation increase accumulated in equity in respect of that asset. Where a revaluation decrease exceeds the accumulated revaluation gains accumulated in equity in respect of that asset, the excess shall be recognised in profit or loss.

Impairment of fixed assets

A review for indicators of impairment is carried out at each reporting date, with the recoverable amount being estimated where such indicators exist. Where the carrying value exceeds the recoverable amount, the asset is impaired accordingly. Prior impairments are also reviewed for possible reversal at each reporting date. For the purposes of impairment testing, when it is not possible to estimate the recoverable amount of an individual asset, an estimate is made of the recoverable amount of the cash-generating unit to which the asset belongs. The cash-generating unit is the smallest identifiable group of assets that includes the asset and generates cash inflows that largely independent of the cash inflows from other assets or groups of assets. For impairment testing of goodwill, the goodwill acquired in a business combination is, from the acquisition date, allocated to each of the cash-generating units that are expected to benefit from the synergies of the combination, irrespective of whether other assets or liabilities of the company are assigned to those units.

Financial instruments

Financial instruments are classified and accounted for, according to the substance of the contractual arrangement, as either 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.

4. Employee numbers

The average number of persons employed by the company during the year amounted to 2 (2021: 2 ).

5. Tangible assets

	Investment Property	Total
	£	£
Cost/Fair Value
At 1 April 2021 and 31 March 2022	985,000	985,000
	---------	---------
Depreciation
At 1 April 2021 and 31 March 2022	–	–
	---------	---------
Carrying amount
At 31 March 2022	985,000	985,000
	---------	---------
At 31 March 2021	985,000	985,000
	---------	---------

6. Creditors: amounts falling due within one year

	2022	2021
	£	£
Corporation tax	567	442
Amounts owed to group undertakings	48,217	50,757
Other creditors	2,340	2,340
	---------	---------
	51,124	53,539
	---------	---------

7. Creditors: amounts falling due after more than one year

	2022	2021
	£	£
Bank loans and overdrafts	768,034	768,037
	---------	---------

Included within creditors falling after more than one year is an amount of £768,034 (2021: £768,037) in respect of interest only loans.

8. Called up share capital

Issued, called up and fully paid

	2022		2021
	No	£	No	£
Ordinary shares of £ 1 each	2	2	2	2
	---------	---------	---------	---------

9. Related party transactions

The company was under the control of the directors throughout the current and previous year. The company received loans from its 100% parent company, ARO Properties Limited. At the year end amounts owed to ARO Properties Limited was £48,217 (2021: £50,757). No formal repayment terms have been agreed.

10. Controlling party

The ultimate parent company is ARO Properties Limited, a company incorporated in England and Wales.