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UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2021 |
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ARANROSE PROPERTIES LIMITED |
REGISTERED NUMBER:
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UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2021 |
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FOR |
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ARANROSE PROPERTIES LIMITED |
ARANROSE PROPERTIES LIMITED (REGISTERED NUMBER: 03862599) |
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CONTENTS OF THE FINANCIAL STATEMENTS |
for the year ended 31 December 2021 |
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Company Information | 1 |
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Balance Sheet | 2 |
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Notes to the Financial Statements | 3 |
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ARANROSE PROPERTIES LIMITED |
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COMPANY INFORMATION |
for the year ended 31 December 2021 |
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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 |
ARANROSE PROPERTIES LIMITED (REGISTERED NUMBER: 03862599) |
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BALANCE SHEET |
31 December 2021 |
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2021 | 2020 |
Notes | € | € | € | € |
FIXED ASSETS |
Investments | 5 |
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CURRENT ASSETS |
Debtors | 6 |
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CREDITORS |
Amounts falling due within one year | 7 |
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NET CURRENT LIABILITIES | ( |
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TOTAL ASSETS LESS CURRENT
LIABILITIES |
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CAPITAL AND RESERVES |
Called up share capital | 8 |
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Retained earnings |
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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. |
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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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ARANROSE PROPERTIES LIMITED (REGISTERED NUMBER: 03862599) |
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NOTES TO THE FINANCIAL STATEMENTS |
for the year ended 31 December 2021 |
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1. | STATUTORY INFORMATION |
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Aranrose Properties Limited is a
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The presentation currency of the financial statements is the Euro (€). |
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2. | STATEMENT OF COMPLIANCE |
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3. | ACCOUNTING POLICIES |
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Basis of preparing the financial statements |
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Preparation of consolidated financial statements |
The financial statements contain information about Aranrose Properties Limited as an individual company and do not contain consolidated financial information as the parent of a group. The company is exempt under Section 399(2A) of the Companies Act 2006 from the requirements to prepare consolidated financial statements. |
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Going concern |
As described in the balance sheet the company has net current liabilities of €967,002. These net liabilities include amounts due to the shareholder of €2,172,894. Accordingly the company is dependent upon the continued support of its shareholder. |
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The shareholder has confirmed that he will not seek full or partial repayment of the loan for a period of at least one year from the approval date of the accounts, On this basis the directors consider it appropriate to prepare the financial statements on a going concern basis. |
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If the company were unable to continue in operational existence for the foreseeable future, adjustments would have to be made to reduce the balance sheet values of assets to their recoverable amounts, and to provide for further liabilities that might arise, and to reclassify fixed assets and long-term liabilities as current assets and liabilities. |
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Investments in subsidiaries |
Investments in subsidiary undertakings are stated at cost less accumulated impairment losses. |
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ARANROSE PROPERTIES LIMITED (REGISTERED NUMBER: 03862599) |
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NOTES TO THE FINANCIAL STATEMENTS - continued |
for the year ended 31 December 2021 |
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3. | ACCOUNTING POLICIES - continued |
Taxation |
Taxation expense for the period comprises current and deferred tax recognised in the reporting period. Tax is recognised in the profit and loss account, except to the extent that it relates to items recognised in other comprehensive income or directly in equity. In this case tax is also recognised in other comprehensive income or directly in equity respectively. |
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Current or deferred taxation assets and liabilities are not discounted. |
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Current tax |
Current tax is the amount of income tax payable in respect of the taxable profit for the year or prior years. Tax is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the period end. |
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Management periodically evaluates positions taken in tax returns with respect to situations in which applicable tax regulation is subject to interpretation. It establishes provisions where appropriate on the basis of amounts expected to be paid to the tax authorities. |
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Deferred tax |
Deferred tax is recognised in respect of all timing differences which are differences between taxable profits and total comprehensive income that arise from the inclusion of income and expenses in tax assessments in periods different from those in which they are recognised in the financial statements. |
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Unrelieved tax losses and other deferred tax assets are recognised only to the extent that the directors consider that it probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits |
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Foreign currencies |
The accounts are denominated in Euros throughout. |
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Monetary assets and liabilities in foreign currencies are translated into Euros at the rates of exchange ruling at the balance sheet date. Transactions in foreign currencies are translated into Euros at the rate of exchange ruling at the date of transaction. Exchange differences are taken into account in arriving at the operating result. |
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Cash and cash equivalent |
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. |
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Share capital |
The ordinary share capital of the company is classified as equity and recorded at fair value of the cash or other resources received or receivable, net of direct costs of issuing the equity instruments. |
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4. | EMPLOYEES AND DIRECTORS |
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The average number of employees during the year was
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ARANROSE PROPERTIES LIMITED (REGISTERED NUMBER: 03862599) |
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NOTES TO THE FINANCIAL STATEMENTS - continued |
for the year ended 31 December 2021 |
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5. | FIXED ASSET INVESTMENTS |
Shares in |
group |
undertakings |
€ |
COST |
At 1 January 2021 |
and 31 December 2021 |
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NET BOOK VALUE |
At 31 December 2021 |
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At 31 December 2020 |
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6. |
DEBTORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR |
2021 | 2020 |
€ | € |
Amounts owed by group undertakings |
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Amounts owed by group undertakings are unsecured and interest is chargeable at 1.5% over the 3 month EURIBOR and the loan is due for repayment in full by 31 May 2023. |
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7. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
2021 | 2020 |
€ | € |
Shareholder loan |
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Tax |
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Other creditors |
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Accruals and deferred income |
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The loan from shareholder is interest free and has no fixed terms of repayment. Hence the loan is considered to be repayable on demand. |
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However, the lender has confirmed that he will not seek full or partial repayment of the loan for a period of at least one year from the approval date of the accounts. |
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8. | CALLED UP SHARE CAPITAL |
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Allotted, issued and fully paid: |
Number: | Class: | Nominal | 2021 | 2020 |
value: | € | € |
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Ordinary | £1 | 1,134 | 1,134 |
ARANROSE PROPERTIES LIMITED (REGISTERED NUMBER: 03862599) |
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NOTES TO THE FINANCIAL STATEMENTS - continued |
for the year ended 31 December 2021 |
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9. | RELATED PARTY DISCLOSURES |
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Courta Holdings B.V. |
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The company is the 100% shareholder of Courta Holdings B.V. In previous years the company provided a loan of €1,158,895 to Courta Holdings B.V. which is due for repayment on 31 May 2023. The loan is unsecured and interest is charged at 1.5% over the 3 month EURIBOR. |
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On 31 December 2021 the amount outstanding in respect of the above is €1,209,905 which includes €51,010 of interest receivable. |
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10. | ULTIMATE CONTROLLING PARTY |
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The ultimate controlling party is
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