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Registration number: 11359664

Arctec Data Limited

Unaudited Financial Statements

for the Year Ended 31 May 2023

 

Arctec Data Limited

Contents

Balance Sheet

1 to 2

Notes to the Unaudited Financial Statements

3 to 6

 

Arctec Data Limited

(Registration number: 11359664)
Balance Sheet as at 31 May 2023

Note

2023
£

2022
£

Fixed assets

 

Tangible assets

4

6,378

4,524

Current assets

 

Debtors

5

16,117

15,553

Cash at bank and in hand

 

57,419

28,918

 

73,536

44,471

Creditors: Amounts falling due within one year

6

(44,877)

(35,201)

Net current assets

 

28,659

9,270

Total assets less current liabilities

 

35,037

13,794

Provisions for liabilities

(1,212)

(860)

Net assets

 

33,825

12,934

Capital and reserves

 

Called up share capital

20

20

Retained earnings

33,805

12,914

Shareholders' funds

 

33,825

12,934

For the financial year ending 31 May 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 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.

 

Arctec Data Limited

(Registration number: 11359664)
Balance Sheet as at 31 May 2023

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. As permitted by section 444 (5A) of the Companies Act 2006, the director has not delivered to the registrar a copy of the Profit and Loss Account.

Approved and authorised by the director on 19 October 2023
 

.........................................
T M Buckley
Director

 

Arctec Data Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 May 2023

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:
Suite 14
Ground Floor
Edwin Foden Business Centre
Sandbach
CW11 3AE

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 smaller entities - 'The Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland' and the Companies Act 2006 (as applicable to companies subject to the small companies' regime).

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.

These financial statements are prepared in Sterling, which is the functional currency of the company. All monetary amounts are rounded to the nearest £.

Revenue recognition

Turnover comprises the fair value of the consideration received or receivable for the provision of services in the ordinary course of the company’s activities. Turnover is shown net of sales, rebates and discounts.

The company recognises revenue when:
The amount of revenue can be reliably measured;
it is probable that future economic benefits will flow to the entity;
and specific criteria have been met for each of the company's activities.

Foreign currency transactions and balances

Transactions in foreign currencies are initially recorded at the functional currency rate prevailing at the date of the transaction. Monetary assets and liabilities denominated in foreign currencies are retranslated into the respective functional currency of the entity at the rates prevailing on the reporting period date. Non-monetary items carried at fair value that are denominated in foreign currencies are retranslated at the rate on the date when the fair value is re-measured.

Non-monetary items measured in terms of historical cost in a foreign currency are not retranslated.

Tax

The tax expense for the period comprises current and deferred tax.

 

Arctec Data Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 May 2023

The current tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the reporting date in the countries where the company operates and generates taxable income.

Deferred tax is recognised in respect of all timing differences between taxable profits and profits reported in the financial statements.

Unrelieved tax losses and other deferred tax assets are recognised when 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.

Tangible assets

Tangible assets are stated in the balance sheet 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

Office equipment

25% Straight Line

Motor vehicles

25% Straight Line

3

Staff numbers

The average number of persons employed by the company (including the director) during the year, was 4 (2022 - 4).

 

Arctec Data Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 May 2023

4

Tangible assets

Office equipment
£

Total
£

Cost or valuation

At 1 June 2022

7,658

7,658

Additions

4,245

4,245

At 31 May 2023

11,903

11,903

Depreciation

At 1 June 2022

3,134

3,134

Charge for the year

2,391

2,391

At 31 May 2023

5,525

5,525

Carrying amount

At 31 May 2023

6,378

6,378

At 31 May 2022

4,524

4,524

 

Arctec Data Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 May 2023

5

Debtors

Current

Note

2023
£

2022
£

Trade debtors

 

11,050

14,169

Amounts owed by related parties

4,837

1,254

Other debtors

 

230

130

   

16,117

15,553

6

Creditors

Creditors: amounts falling due within one year

Note

2023
£

2022
£

Due within one year

 

Trade creditors

 

866

-

Amounts owed to group undertakings and undertakings in which the company has a participating interest

17,067

-

Taxation and social security

 

25,600

17,270

Other creditors

 

1,344

17,931

 

44,877

35,201