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ARROW BUSINESS COMMUNICATIONS PS LIMITED
REGISTERED NUMBER:13225278
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STATEMENT OF FINANCIAL POSITION
AS AT 31 DECEMBER 2022
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Creditors: amounts falling due within one year
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Total assets less current liabilities
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The financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies regime and in accordance with the provisions of FRS 102 Section 1A - small entities.
The financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime.
The Company has opted not to file the statement of income and retained earnings in accordance with provisions applicable to companies subject to the small companies' regime.
The financial statements were approved and authorised for issue by the board and were signed on its behalf by:
The notes on pages 2 to 3 form part of these financial statements.
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ARROW BUSINESS COMMUNICATIONS PS LIMITED
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NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 31 DECEMBER 2022
Arrow Business Communications PS Limited is a private company limited by shares, incorporated in the England and Wales under Companies Act 2006. The registered office and pricipal trading address is given on the Company Information page. The functional and presentational currency is GBP.
The Company was incorporated on 25 February 2021, from which the prior period was prepared from in a short period. Therefore the prior period is not comparrable with the current 12 month period.
2.Accounting policies
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Basis of preparation of financial statements
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The financial statements have been prepared under the historical cost convention unless otherwise specified within these accounting policies and in accordance with Section 1A of Financial Reporting Standard 102, the Financial Reporting Standard applicable in the UK and the Republic of Ireland and the Companies Act 2006.
The following principal accounting policies have been applied:
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Exemption from preparing consolidated financial statements
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The Company is a parent company that is also a subsidiary included in the consolidated financial statements of a larger group by a parent undertaking established under the law of any part of the United Kingdom and is therefore exempt from the requirement to prepare consolidated financial statements under section 400 of the Companies Act 2006.
Finance costs are charged to profit or loss over the term of the debt using the effective interest method so that the amount charged is at a constant rate on the carrying amount. Issue costs are initially recognised as a reduction in the proceeds of the associated capital instrument.
Investments in subsidiaries are measured at cost less accumulated impairment.
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, loans to related parties and investments in ordinary shares.
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The Company has no employees other than the Directors, who did not receive any remuneration (2021 - £NIL).
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ARROW BUSINESS COMMUNICATIONS PS LIMITED
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NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 31 DECEMBER 2022
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Investments in subsidiary companies
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Creditors: Amounts falling due within one year
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Amounts owed to group undertakings
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6.Financial commitments
Loans included within entities of the group that the Company is a part are secured by fixed and floating charges over the assets of the Company and the group. At the year end the loans amounted to £186,225,036 (2021: £176,242,950).
The parent undertaking of the smallest group in which consolidated financial statements are prepared, which include this company, is Arrow Communications Holdings Limited. The company’s registered address is The Wharf, Abbey Mills Business Park, Lower Eashing, Godalming, Surrey, GU7 2QN.
The auditors' report on the financial statements for the period ended 31 December 2022 was unqualified.
The audit report was signed on 20 October 2023 by Robin Hopkins FCA (Senior statutory auditor) on behalf of Menzies LLP.
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