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ARH Acquisitions Limited

Annual Report and Unaudited Financial Statements

for the Year Ended 31 October 2017

Tahas
Certified Accountants & Tax Advisors
Suite 3, Second Floor
760 Eastern Avenue
Newbury Park
London
IG2 7HU

ARH Acquisitions Limited

Contents

Company Information	1
Accountants' Report	2
Statement of Comprehensive Income	3
Balance Sheet	4 to 5
Statement of Changes in Equity	6
Notes to the Financial Statements	7 to 12

ARH Acquisitions Limited

Company Information

Director

Mr Minal Kishorchandra Harji

Registered office

1a Grange Crescent Chigwell Essex IG7 5JB

Accountants

Tahas Certified Accountants & Tax Advisors Suite 3, Second Floor 760 Eastern Avenue Newbury Park London IG2 7HU

Page 1

Chartered Certified Accountants' Report to the Director on the Preparation of the Unaudited Statutory Accounts of
ARH Acquisitions Limited
for the Year Ended 31 October 2017

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the accounts of ARH Acquisitions Limited for the year ended 31 October 2017 as set out on pages 3 to 12 from the company's accounting records and from information and explanations you have given us.

As a practising member firm of the Association of Chartered Certified Accountants, we are subject to its ethical and other professional requirements which are detailed at
http://www.accaglobal.com/gb/en/discover/public-value/rulebook.html.

This report is made solely to the Board of Directors of ARH Acquisitions Limited, as a body, in accordance with the terms of our engagement letter. Our work has been undertaken solely to prepare for your approval the accounts of ARH Acquisitions Limited and state those matters that we have agreed to state to the Board of Directors of ARH Acquisitions Limited, as a body, in this report in accordance with the requirements of the Association of Chartered Certified Accountants as detailed at http://www.accaglobal.com/gb/en/technical-activities/technical-resources-search/2009/
october/factsheet-163-audit-exempt-companies.html. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than ARH Acquisitions Limited and its Board of Directors as a body for our work or for this report.

It is your duty to ensure that ARH Acquisitions Limited has kept adequate accounting records and to prepare statutory accounts that give a true and fair view of the assets, liabilities, financial position and profit of ARH Acquisitions Limited. You consider that ARH Acquisitions Limited is exempt from the statutory audit requirement for the year.

We have not been instructed to carry out an audit or a review of the accounts of ARH Acquisitions Limited. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory accounts.

......................................

Tahas
Certified Accountants & Tax Advisors
Suite 3, Second Floor
760 Eastern Avenue
Newbury Park
London
IG2 7HU

31 July 2018

Page 2

ARH Acquisitions Limited

Statement of Comprehensive Income for the Year Ended 31 October 2017

	Note	2017 £	2016 £
Profit for the year		769,226	9,680
Total comprehensive income for the year		769,226	9,680

The notes on pages 7 to 12 form an integral part of these financial statements.

Page 3

ARH Acquisitions Limited

(Registration number: 07419198)
Balance Sheet as at 31 October 2017

	Note	2017 £	2016 £
Fixed assets
Tangible assets	4	7,359	9,812
Investment property	5	2,281,551	1,360,313
		2,288,910	1,370,125
Current assets
Debtors	6	100,720	600
Cash at bank and in hand		166,107	25,218
		266,827	25,818
Creditors: Amounts falling due within one year	7	(31,623)	(40,363)
Net current assets/(liabilities)		235,204	(14,545)
Total assets less current liabilities		2,524,114	1,355,580
Creditors: Amounts falling due after more than one year	7	(1,808,467)	(1,409,159)
Net assets/(liabilities)		715,647	(53,579)
Capital and reserves
Called up share capital		100	100
Profit and loss account		715,547	(53,679)
Total equity		715,647	(53,579)

For the financial year ending 31 October 2017 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Director's responsibilities:

•	The members have not required the company to obtain an audit of its accounts for the year in question in accordance with section 476; and
•	The director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

These financial statements have been prepared in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006.

These financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime and the option not to file the Profit and Loss Account has been taken.

The notes on pages 7 to 12 form an integral part of these financial statements.

Page 4

ARH Acquisitions Limited

(Registration number: 07419198)
Balance Sheet as at 31 October 2017

Approved and authorised by the director on 31 July 2018
 

.........................................

Mr Minal Kishorchandra Harji

Director

The notes on pages 7 to 12 form an integral part of these financial statements.

Page 5

ARH Acquisitions Limited

Statement of Changes in Equity for the Year Ended 31 October 2017

	Share capital £	Profit and loss account £	Total £
At 1 November 2016	100	(53,679)	(53,579)
Profit for the year	-	769,226	769,226
Total comprehensive income	-	769,226	769,226
At 31 October 2017	100	715,547	715,647

	Share capital £	Profit and loss account £	Total £
At 1 November 2015	100	(63,359)	(63,259)
Profit for the year	-	9,680	9,680
Total comprehensive income	-	9,680	9,680
At 31 October 2016	100	(53,679)	(53,579)

The notes on pages 7 to 12 form an integral part of these financial statements.

Page 6

ARH Acquisitions Limited

Notes to the Financial Statements for the Year Ended 31 October 2017

1	General information

The company is a private company limited by share capital incorporated in England and Wales.

The address of its registered office is:
1a Grange Crescent
Chigwell
Essex
IG7 5JB

These financial statements were authorised for issue by the director on 31 July 2018.

2	Accounting policies

Summary of significant accounting policies and key accounting estimates

The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.

Statement of compliance

These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A - 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' and the Companies Act 2006.

Basis of preparation

These financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.

Tangible assets

Tangible assets are stated in the statement of financial position at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.

The cost of tangible assets includes directly attributable incremental costs incurred in their acquisition and installation.

Depreciation

Depreciation is charged so as to write off the cost of assets, other than land and properties under construction over their estimated useful lives, as follows:

Asset class	Depreciation method and rate
Fixtures and fittings	25% on Reducing balance
Office equipment	25% on Reducing balance

Investment property

Investment property is carried at fair value, derived from the current market prices for comparable real estate determined annually by external valuers. The valuers use observable market prices, adjusted if necessary for any difference in the nature, location or condition of the specific asset. Changes in fair value are recognised in profit or loss.

Cash and cash equivalents

Cash and cash equivalents comprise cash on hand and call deposits, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value.

Page 7

ARH Acquisitions Limited

Notes to the Financial Statements for the Year Ended 31 October 2017

Trade debtors

Trade debtors are amounts due from customers for merchandise sold or services performed in the ordinary course of business.

Trade debtors are recognised initially at the transaction price. They are subsequently measured at amortised cost using the effective interest method, less provision for impairment. A provision for the impairment of trade debtors is established when there is objective evidence that the company will not be able to collect all amounts due according to the original terms of the receivables.

Trade creditors

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Accounts payable are classified as current liabilities if the company does not have an unconditional right, at the end of the reporting period, to defer settlement of the creditor for at least twelve months after the reporting date. If there is an unconditional right to defer settlement for at least twelve months after the reporting date, they are presented as non-current liabilities.

Trade creditors are recognised initially at the transaction price and subsequently measured at amortised cost using the effective interest method.

Borrowings

Interest-bearing borrowings are initially recorded at fair value, net of transaction costs. Interest-bearing borrowings are subsequently carried at amortised cost, with the difference between the proceeds, net of transaction costs, and the amount due on redemption being recognised as a charge to the Profit and Loss Account over the period of the relevant borrowing.

Interest expense is recognised on the basis of the effective interest method and is included in interest payable and similar charges.

Borrowings are classified as current liabilities unless the company has an unconditional right to defer settlement of the liability for at least twelve months after the reporting date.

Share capital

Ordinary shares are classified as equity. Equity instruments are measured at the fair value of the cash or other resources received or receivable, net of the direct costs of issuing the equity instruments. If payment is deferred and the time value of money is material, the initial measurement is on a present value basis.

Defined contribution pension obligation

A defined contribution plan is a pension plan under which fixed contributions are paid into a pension fund and the company has no legal or constructive obligation to pay further contributions even if the fund does not hold sufficient assets to pay all employees the benefits relating to employee service in the current and prior periods.

Contributions to defined contribution plans are recognised as employee benefit expense when they are due. If contribution payments exceed the contribution due for service, the excess is recognised as a prepayment.

3	Staff numbers

The average number of persons employed by the company (including the director) during the year, was 4 (2016 - 2).

Page 8

ARH Acquisitions Limited

Notes to the Financial Statements for the Year Ended 31 October 2017

4	Tangible assets

	Furniture, fittings and equipment  £	Total £
Cost or valuation
At 1 November 2016	27,204	27,204
At 31 October 2017	27,204	27,204
Depreciation
At 1 November 2016	17,392	17,392
Charge for the year	2,453	2,453
At 31 October 2017	19,845	19,845
Carrying amount
At 31 October 2017	7,359	7,359
At 31 October 2016	9,812	9,812

Included within the net book value of land and buildings above is £Nil (2016 - £Nil) in respect of freehold land and buildings.
 

5	Investment properties

	2017 £
At 1 November	1,360,313
Additions	139,190
Fair value adjustments	782,048
At 31 October	2,281,551

The freehold property was valued on an open market basis on 31st October 2017. The fair value adjustments reflects the increment from historic cost and the carrying value is considered to be the open market value as assessed by the directors and professional valuers.

The historical costs of the properties is £1,499,503 (2016 - £1,360,313). The gain on revaluation of the investment properties of £782,048 has been credited to the income statement in the year.

The value of the property have been assessed by professional independent valuers

6

Debtors

	2017 £	2016 £
Other debtors	100,720	600
Total current trade and other debtors	100,720	600

Page 9

ARH Acquisitions Limited

Notes to the Financial Statements for the Year Ended 31 October 2017

7

Creditors

	Note	2017 £	2016 £
Due within one year
Taxation and social security		254	8
Other creditors		31,369	40,355
		31,623	40,363
Due after one year
Loans and borrowings	8	1,770,567	1,378,459
Other non-current financial liabilities		37,900	30,700
		1,808,467	1,409,159