8 false false false false false false false false false false true false false false false false false No description of principal activity 2022-04-01 Sage Accounts Production Advanced 2023 - FRS102_2023 67,130 3,018 70,148 64,316 2,169 66,485 3,663 2,814 120,000 80,000 20,000 100,000 20,000 40,000 xbrli:pure xbrli:shares iso4217:GBP 6130832 2022-04-01 2023-03-31 6130832 2023-03-31 6130832 2022-03-31 6130832 2021-04-01 2022-03-31 6130832 2022-03-31 6130832 2021-03-31 6130832 bus:Director1 2022-04-01 2023-03-31 6130832 core:WithinOneYear 2023-03-31 6130832 core:WithinOneYear 2022-03-31 6130832 core:ShareCapital 2023-03-31 6130832 core:ShareCapital 2022-03-31 6130832 core:RetainedEarningsAccumulatedLosses 2023-03-31 6130832 core:RetainedEarningsAccumulatedLosses 2022-03-31 6130832 core:CostValuation core:Non-currentFinancialInstruments 2023-03-31 6130832 core:Non-currentFinancialInstruments core:ProvisionsForImpairmentInvestments 2022-03-31 6130832 core:ImpairmentLossProvisionsForImpairmentInvestments core:Non-currentFinancialInstruments 2023-03-31 6130832 core:Non-currentFinancialInstruments core:ProvisionsForImpairmentInvestments 2023-03-31 6130832 core:Non-currentFinancialInstruments 2023-03-31 6130832 core:Non-currentFinancialInstruments 2022-03-31 6130832 bus:Director1 2022-03-31 6130832 bus:Director1 2023-03-31 6130832 bus:Director1 2021-03-31 6130832 bus:Director1 2022-03-31 6130832 bus:Director1 2021-04-01 2022-03-31 6130832 bus:SmallEntities 2022-04-01 2023-03-31 6130832 bus:AuditExempt-NoAccountantsReport 2022-04-01 2023-03-31 6130832 bus:SmallCompaniesRegimeForAccounts 2022-04-01 2023-03-31 6130832 bus:PrivateLimitedCompanyLtd 2022-04-01 2023-03-31 6130832 bus:FullAccounts 2022-04-01 2023-03-31 6130832 core:OfficeEquipment 2022-04-01 2023-03-31 6130832 core:OfficeEquipment 2022-03-31 6130832 core:OfficeEquipment 2023-03-31 6130832 core:AllAssociates 2022-04-01 2023-03-31
COMPANY REGISTRATION NUMBER: 6130832
Archangel Accounting Limited
Filleted Unaudited Financial Statements
31 March 2023
Archangel Accounting Limited
Statement of Financial Position
31 March 2023
2023
2022
Note
£
£
£
Fixed assets
Tangible assets
5
3,663
2,814
Investments
6
20,000
40,000
--------
--------
23,663
42,814
Current assets
Debtors
7
127,654
132,471
Cash at bank and in hand
488,236
144,422
---------
---------
615,890
276,893
Creditors: amounts falling due within one year
8
638,180
318,205
---------
---------
Net current liabilities
22,290
41,312
--------
--------
Total assets less current liabilities
1,373
1,502
-------
-------
Net assets
1,373
1,502
-------
-------
Capital and reserves
Called up share capital
3
3
Profit and loss account
1,370
1,499
-------
-------
Shareholders funds
1,373
1,502
-------
-------
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 2023 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 financial statements for the year in question in accordance with section 476 ;
- The director acknowledges her responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements .
Archangel Accounting Limited
Statement of Financial Position (continued)
31 March 2023
These financial statements were approved by the board of directors and authorised for issue on 30 September 2023 , and are signed on behalf of the board by:
Mrs JF Jones
Director
Company registration number: 6130832
Archangel Accounting Limited
Notes to the Financial Statements
Year ended 31 March 2023
1. General information
The company is a private company limited by shares, registered in England and Wales. The address of the registered office is Burnham House, Splash Lane, Wyton, Huntingdon, PE28 2AF, Cambs.
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.
Revenue recognition
Turnover is measured at the fair value of the consideration received or receivable for goods supplied and services rendered, net of discounts and Value Added Tax. Revenue from the sale of goods is recognised when the significant risks and rewards of ownership have transferred to the buyer (usually on despatch of the goods); the amount of revenue can be measured reliably; it is probable that the associated economic benefits will flow to the entity; and the costs incurred or to be incurred in respect of the transactions can be measured reliably.
Foreign currencies
Foreign currency transactions are initially recorded in the functional currency, by applying the spot exchange rate as at the date of the transaction. Monetary assets and liabilities denominated in foreign currencies are translated at the exchange rate ruling at the reporting date, with any gains or losses being taken to the profit and loss account.
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.
Depreciation
Depreciation is calculated so as to write off the cost or valuation of an asset, less its residual value, over the useful economic life of that asset as follows:
Office Equipment
-
33% straight line
Investments
Fixed asset investments are initially recorded at cost, and subsequently stated at cost less any accumulated impairment losses.
Listed investments are measured at fair value with changes in fair value being recognised in profit or loss.
Investments in associates
Investments in associates accounted for in accordance with the cost model are recorded at cost less any accumulated impairment losses. Investments in associates accounted for in accordance with the fair value model are initially recorded at the transaction price. At each reporting date, the investments are measured at fair value, with changes in fair value recognised in other comprehensive income/profit or loss. Where it is impracticable to measure fair value reliably without undue cost or effort, the cost model will be adopted. Dividends and other distributions received from the investment are recognised as income without regard to whether the distributions are from accumulated profits of the associate arising before or after the date of acquisition.
Investments in joint ventures
Investments in jointly controlled entities accounted for in accordance with the cost model are recorded at cost less any accumulated impairment losses. Investments in jointly controlled entities accounted for in accordance with the fair value model are initially recorded at the transaction price. At each reporting date, the investments are measured at fair value, with changes in fair value recognised in other comprehensive income/profit or loss. Where it is impracticable to measure fair value reliably without undue cost or effort, the cost model will be adopted. Dividends and other distributions received from the investment are recognised as income without regard to whether the distributions are from accumulated profits of the joint venture arising before or after the date of acquisition.
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
The Company only enters into basic financial instrument transactions that result in the recognition of financial assets and liabilities like trade and other debtors and creditors, loans from banks and other third parties, deposits with banks, loans to related parties and investments in non-puttable ordinary shares.
Defined contribution plans
Contributions to defined contribution plans are recognised as an expense in the period in which the related service is provided. Prepaid contributions are recognised as an asset to the extent that the prepayment will lead to a reduction in future payments or a cash refund. When contributions are not expected to be settled wholly within 12 months of the end of the reporting date in which the employees render the related service, the liability is measured on a discounted present value basis. The unwinding of the discount is recognised as a finance cost in profit or loss in the period in which it arises.
4. Employee numbers
The average number of persons employed by the company during the year amounted to 8 (2022: 5 ).
5. Tangible assets
Equipment
Total
£
£
Cost
At 1 April 2022
67,130
67,130
Additions
3,018
3,018
--------
--------
At 31 March 2023
70,148
70,148
--------
--------
Depreciation
At 1 April 2022
64,316
64,316
Charge for the year
2,169
2,169
--------
--------
At 31 March 2023
66,485
66,485
--------
--------
Carrying amount
At 31 March 2023
3,663
3,663
--------
--------
At 31 March 2022
2,814
2,814
--------
--------
6. Investments
Other investments other than loans
£
Cost
At 1 April 2022 and 31 March 2023
120,000
---------
Impairment
At 1 April 2022
80,000
Impairment losses
20,000
---------
At 31 March 2023
100,000
---------
Carrying amount
At 31 March 2023
20,000
---------
At 31 March 2022
40,000
---------
7. Debtors
2023
2022
£
£
Trade debtors
126,779
132,471
Other debtors
875
---------
---------
127,654
132,471
---------
---------
8. Creditors: amounts falling due within one year
2023
2022
£
£
Bank loans and overdrafts
98,034
138,980
Trade creditors
1,606
1,755
Social security and other taxes
63,096
74,876
Other creditors
475,444
102,594
---------
---------
638,180
318,205
---------
---------
9. Director's advances, credits and guarantees
During the year the director entered into the following advances and credits with the company:
2023
Balance brought forward
Amounts repaid
Balance outstanding
£
£
£
Mrs JF Jones
( 94,059)
( 381,385)
( 475,444)
--------
---------
---------
2022
Balance brought forward
Amounts repaid
Balance outstanding
£
£
£
Mrs JF Jones
85,000
( 179,059)
( 94,059)
--------
---------
--------
10. Related party transactions
The company was under the control of Mrs JF Jones throughout the current and previous year. Mrs JF Jones is the managing director and majority shareholder.