Registered number
11740391
A.R.M Rigging Services LTD
Filleted Accounts
31 December 2021
A.R.M Rigging Services LTD
Registered number: 11740391
Balance Sheet
as at 31 December 2021
Notes 2021 2020
£ £
Fixed assets
Tangible assets 3 10,725 13,791
Current assets
Debtors 4 15,947 1,147
Cash at bank and in hand 2,228 23,316
18,175 24,463
Creditors: amounts falling due within one year 5 (25,093) (19,215)
Net current (liabilities)/assets (6,918) 5,248
Total assets less current liabilities 3,807 19,039
Creditors: amounts falling due after more than one year 6 (2,500) (18,000)
Net assets 1,307 1,039
Capital and reserves
Called up share capital 1 1
Profit and loss account 1,306 1,038
Shareholders' funds 1,307 1,039
The director is satisfied that the company is entitled to exemption from the requirement to obtain an audit under section 477 of the Companies Act 2006.
The members have not required the company to obtain an audit in accordance with section 476 of the Act.
The director acknowledges his responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts.
The accounts have been prepared and delivered in accordance with the special provisions applicable to companies subject to the small companies regime. The profit and loss account has not been delivered to the Registrar of Companies.
Andrew Rose-McGuckin
Director
Approved by the board on 24 May 2022
A.R.M Rigging Services LTD
Notes to the Accounts
for the year ended 31 December 2021
1 Accounting policies
Basis of preparation
The accounts have been prepared under the historical cost convention and in accordance with FRS 102, The Financial Reporting Standard applicable in the UK and Republic of Ireland (as applied to small entities by section 1A of the standard).
Turnover
Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover includes revenue earned from the sale of goods and from the rendering of services. Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods have transferred to the buyer. Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs.
Tangible fixed assets
Tangible fixed assets are measured at cost less accumulative depreciation and any accumulative impairment losses. Depreciation is provided on all tangible fixed assets, other than freehold land, at rates calculated to write off the cost, less estimated residual value, of each asset evenly over its expected useful life, as follows:
Freehold buildings over 50 years
Leasehold land and buildings over the lease term
Plant and machinery over 5 years
Fixtures, fittings, tools and equipment over 5 years
Debtors
Short term debtors are measured at transaction price (which is usually the invoice price), less any impairment losses for bad and doubtful debts. Loans and other financial assets are initially recognised at transaction price including any transaction costs and subsequently measured at amortised cost determined using the effective interest method, less any impairment losses for bad and doubtful debts.
Creditors
Short term creditors are measured at transaction price (which is usually the invoice price). Loans and other financial liabilities are initially recognised at transaction price net of any transaction costs and subsequently measured at amortised cost determined using the effective interest method.
Taxation
A current tax liability is recognised for the tax payable on the taxable profit of the current and past periods. A current tax asset is recognised in respect of a tax loss that can be carried back to recover tax paid in a previous period. Deferred tax is recognised in respect of all timing differences between the recognition of income and expenses in the financial statements and their inclusion in tax assessments. 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. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date and that are expected to apply to the reversal of the timing difference, except for revalued land and investment property where the tax rate that applies to the sale of the asset is used. Current and deferred tax assets and liabilities are not discounted.
Provisions
Provisions (ie liabilities of uncertain timing or amount) are recognised when there is an obligation at the reporting date as a result of a past event, it is probable that economic benefit will be transferred to settle the obligation and the amount of the obligation can be estimated reliably.
2 Employees 2021 2020
Number Number
Average number of persons employed by the company 1 1
3 Tangible fixed assets
Plant and machinery etc Motor vehicles Total
£ £ £
Cost
At 1 January 2021 3,739 13,498 17,237
Additions 380 - 380
At 31 December 2021 4,119 13,498 17,617
Depreciation
At 1 January 2021 747 2,699 3,446
Charge for the year 747 2,699 3,446
At 31 December 2021 1,494 5,398 6,892
Net book value
At 31 December 2021 2,625 8,100 10,725
At 31 December 2020 2,992 10,799 13,791
4 Debtors 2021 2020
£ £
Trade debtors (1,179) -
Other debtors 17,126 1,147
15,947 1,147
5 Creditors: amounts falling due within one year 2021 2020
£ £
Bank loans and overdrafts 2,551 -
Obligations under finance lease and hire purchase contracts 5,280 8,973
Taxation and social security costs 8,466 8,430
Other creditors 8,796 1,812
25,093 19,215
6 Creditors: amounts falling due after one year 2021 2020
£ £
Bank loans 2,500 18,000
7 Other information
A.R.M Rigging Services LTD is a private company limited by shares and incorporated in England. Its registered office is:
2 Ellesmere
Houghton-Le-Spring
DH4 6DZ
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