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Registered Number: 06718393
England and Wales

 

 

 

ARC MICROTECH LIMITED


Unaudited Financial Statements
 


Period of accounts

Start date: 01 January 2022

End date: 31 December 2022
Director Ian Thirkell
Registered Number 06718393
Registered Office 6-7 Waterside
Station road
Harpenden
Hertfordshire
AL5 4US
Accountants Cubed Consultancy
6-7 Waterside
Station Road
Harpenden
AL4 3US
1
 
 
Notes
 
2022
£
  2021
£
Fixed assets      
Intangible fixed assets 3 89,793    156,582 
Tangible fixed assets 4 5,632    7,510 
95,425    164,092 
Current assets      
Stocks 5 141,717    123,846 
Debtors 6 214,220    47,377 
Cash at bank and in hand 99,641    54,051 
455,578    225,274 
Creditors: amount falling due within one year 7 (404,326)   (211,210)
Net current assets 51,252    14,064 
 
Total assets less current liabilities 146,677    178,156 
Creditors: amount falling due after more than one year 8 (37,262)   (68,142)
Provisions for liabilities 9 18,529    18,124 
Net assets 127,944    128,138 
 

Capital and reserves
     
Called up share capital 10 220    220 
Reserves 11 190,976    190,976 
Profit and loss account (63,252)   (63,058)
Shareholder's funds 127,944    128,138 
 


For the year ended 31 December 2022 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Director's responsibilities:
  1. The members have not required the company to obtain an audit of its accounts for the year in question in accordance with section 476.
  2. The director acknowledges their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts.
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 the provisions of Part 15 of the Companies Act 2006. In accordance with Section 444 of the Companies Act 2006, the income statement has not been delivered to the Registrar of Companies.
The financial statements were approved by the director on 29 September 2023 and were signed by:


-------------------------------
Ian Thirkell
Director
2
General Information
ARC Microtech Limited is a private company, limited by shares, registered in England and Wales, registration number 06718393, registration address 6-7 Waterside, Station road, Harpenden, Hertfordshire, AL5 4US.

The presentation currency is £ sterling.
1.

Accounting policies

Significant accounting policies
Statement of compliance
These financial statements have been prepared in compliance with FRS 102 – The Financial Reporting Standard applicable in the UK and Republic of Ireland and the Companies Act 2006.
Basis of preparation
The financial statements have been prepared under the historical cost convention as modified by the revaluation of land and buildings and certain financial instruments measured at fair value in accordance with the accounting policies.
The financial statements are prepared in sterling which is the functional currency of the company.
Turnover
Turnover comprises the invoiced value of goods and services supplied by the company, net of Value Added Tax and trade discounts.
Foreign currencies
Monetary assets and liabilities denominated in foreign currencies are translated into sterling at the rate of exchange ruling at the statement of financial position date. Transactions in foreign currencies are recorded at the rate ruling at the date of the transaction. All foreign exchange differences are included to the income statement.
Taxation
Taxation represents the sum of tax currently payable and deferred tax. Tax is recognised in the statement of income, except to the extent that it relates to items recognised in other comprehensive income or directly in capital and reserves.
The company’s liability for current tax is calculated using the tax rates and laws that have been enacted or substantively enacted at the reporting date.
Current and deferred tax assets and liabilities are not discounted
Licences and patents
Licences and patents are stated at cost less amortisation. Amortisation of licences is calculated on a straight line basis over the life of the licence. Amortisation of patents is calculated on a straight line basis over the estimated expected useful economic life of the patents of years.
Software License
Software License is stated at cost less amortisation. Amortisation is calculated on a straight line basis over the estimated expected useful economic life of the Software License of 3 years.
Tangible fixed assets
Tangible fixed assets, other than freehold land, are stated at cost or valuation less depreciation and any provision for impairment. Depreciation is provided at rates calculated to write off the cost or valuation of fixed assets, less their estimated residual value, over their expected useful lives on the following basis:
Stocks
Stocks are valued at the lower of cost and net realisable value after making due allowance for obsolete and slow moving items. Cost includes all direct costs and an appropriate proportion of fixed and variable overheads.
Financial instruments
The company has elected to apply the provisions of Section 11 ‘Basic Financial Instruments’ and Section 12 ‘Other Financial Instruments Issues’ of FRS 102 to all of its financial instruments.
Financial instruments are recognised in the company's balance sheet when the company becomes party to the contractual provisions of the instrument.
Financial assets and liabilities are offset, with the net amounts presented in the financial statements, when there is a legally enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously.
2.

Average number of employees


Average number of employees during the year was 7 (2021 : 7).
3.

Intangible fixed assets

Cost Patents   Software License   Total
  £   £   £
At 01 January 2022 477,235    53,789    531,024 
Additions 555    7,435    7,990 
Disposals    
At 31 December 2022 477,790    61,224    539,014 
Amortisation
At 01 January 2022 321,054    53,388    374,442 
Charge for year 73,452    1,327    74,779 
On disposals    
At 31 December 2022 394,506    54,715    449,221 
Net book values
At 31 December 2022 83,284    6,509    89,793 
At 31 December 2021 156,181    401    156,582 


4.

Tangible fixed assets

Cost or valuation Fixtures and Fittings   Computer Equipment   Total
  £   £   £
At 01 January 2022 6,814    23,337    30,151 
Additions    
Disposals    
At 31 December 2022 6,814    23,337    30,151 
Depreciation
At 01 January 2022 5,254    17,387    22,641 
Charge for year 390    1,488    1,878 
On disposals    
At 31 December 2022 5,644    18,875    24,519 
Net book values
Closing balance as at 31 December 2022 1,170    4,462    5,632 
Opening balance as at 01 January 2022 1,560    5,950    7,510 


5.

Stocks

2022
£
  2021
£
Stocks 141,717    123,846 
141,717    123,846 

6.

Debtors: amounts falling due within one year

2022
£
  2021
£
Trade Debtors 175,757    12,127 
Other Debtors 38,463    35,250 
214,220    47,377 

7.

Creditors: amount falling due within one year

2022
£
  2021
£
Trade Creditors 185,795    65,308 
Taxation and Social Security   7,515 
Other Creditors 218,531    138,387 
404,326    211,210 

8.

Creditors: amount falling due after more than one year

2022
£
  2021
£
Bank Loans & Overdrafts 37,262    68,142 
37,262    68,142 

9.

Provisions for liabilities

2022
£
  2021
£
Deferred Tax (19,205)   (20,094)
Pension Provisions 676    1,970 
(18,529)   (18,124)

10.

Share Capital

Allotted, called up and fully paid
2022
£
  2021
£
650,000 Class A shares of £0.00022 each 143    143 
100,000 Class C shares of £0.00022 each 22    22 
100,000 Class D shares of £0.00022 each 22    22 
150,000 Class E shares of £0.00022 each 33    33 
220    220 

11.

Reserves

2022
£
  2021
£
Revaluation Reserve b/fwd 190,976    190,976 
190,976    190,976 

3