REGISTERED NUMBER: |
Unaudited Financial Statements |
for the Year Ended 31 May 2018 |
for |
Archway Holdings Ltd |
REGISTERED NUMBER: |
Unaudited Financial Statements |
for the Year Ended 31 May 2018 |
for |
Archway Holdings Ltd |
Archway Holdings Ltd (Registered number: 10136884) |
Contents of the Financial Statements |
for the year ended 31 May 2018 |
Page |
Company Information | 1 |
Balance Sheet | 2 |
Notes to the Financial Statements | 3 |
Archway Holdings Ltd |
Company Information |
for the year ended 31 May 2018 |
DIRECTORS: |
SECRETARY: |
REGISTERED OFFICE: |
REGISTERED NUMBER: |
ACCOUNTANTS: |
Chartered Accountants |
Watergate House |
85 Watergate Street |
Chester |
Cheshire |
CH1 2LF |
Archway Holdings Ltd (Registered number: 10136884) |
Balance Sheet |
31 May 2018 |
2018 | 2017 |
Notes | £ | £ | £ | £ |
FIXED ASSETS |
Investments | 3 |
CURRENT ASSETS |
Debtors | 4 |
Cash at bank |
CREDITORS |
Amounts falling due within one year | 5 |
NET CURRENT ASSETS |
TOTAL ASSETS LESS CURRENT LIABILITIES |
CAPITAL AND RESERVES |
Called up share capital |
Retained earnings |
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. |
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 on |
Archway Holdings Ltd (Registered number: 10136884) |
Notes to the Financial Statements |
for the year ended 31 May 2018 |
1. | STATUTORY INFORMATION |
Archway Holdings Ltd is a |
number and registered office address can be found on the Company Information page. |
2. | ACCOUNTING POLICIES |
Basis of preparing the financial statements |
Investments in subsidiaries |
Investments in subsidiary undertakings are recognised at cost. |
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. |
3. | FIXED ASSET INVESTMENTS |
Shares in |
group |
undertakings |
£ |
COST |
At 1 June 2017 |
and 31 May 2018 |
NET BOOK VALUE |
At 31 May 2018 |
At 31 May 2017 |
Subsidiary undertakings |
The company's investment in its subsidiary companies represents the cost of acquisition of the whole of the ordinary share |
capital of Archway Homes Limited of £12,000 and Archway Groundworks Limited of £6,000. |
At 31 May 2018, the aggregate of the share capital and reserves of Archway Homes Limited amounted to £457,291 (2017 |
£354,821) and the profit for the year to that date was £402,470 (2017 £322,165). |
At 31 May 2018, the aggregate of the share capital and reserves of Archway Groundworks Limited amounted to £8,844 |
(2017 £5,634) and the profit for the year to that date was £3,210 (2017 loss £366). |
4. | DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
2018 | 2017 |
£ | £ |
Amounts owed by group undertakings |
Archway Holdings Ltd (Registered number: 10136884) |
Notes to the Financial Statements - continued |
for the year ended 31 May 2018 |
5. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
2018 | 2017 |
£ | £ |
Amounts owed to group undertakings |
Taxation and social security |
Other creditors |
6. | RELATED PARTY DISCLOSURES |
Amounts owed by group undertakings includes an amount of £1,465,000 (2017 £900,000) owed from Archway Homes |
Limited, a wholly owned subsidiary. The loan is secured with a fixed and floating charge on the assets of Archway Homes |
Limited. Interest was charged in the period and it is repayable on demand. |
Amounts owed by group undertakings includes an amount of £75,000 owed from Archway Groundworks Limited (2017 |
£5,000 owed to Archway Groundworks Limited), a wholly owned subsidiary. The loan is secured with a fixed and floating |
charge on the assets of Archway Groundworks Limited. Interest was charged in the period and it is repayable on demand. |
Included in other creditors is £375,000 (2017 £nil) owed to Barrowmore Investments Limited, a company that directors Mr P |
L and Mrs A Pedley are also directors. Interest is charged on this loan. |
Dividends totalling £37,000 (2017 £40,000) were paid during the year to Mr P L and Mrs A Pedley, together with members |
of their close family. |
7. | ULTIMATE CONTROLLING PARTY |
The company is controlled by Mr P L and Mrs A Pedley, the directors of the company, together with members of their close |
family by virtue of owning the majority of the issued share capital. |