REGISTERED NUMBER: |
Unaudited Financial Statements |
for the Year Ended 31 January 2023 |
for |
Ark Group Services Ltd |
REGISTERED NUMBER: |
Unaudited Financial Statements |
for the Year Ended 31 January 2023 |
for |
Ark Group Services Ltd |
Ark Group Services Ltd (Registered number: 05995846) |
Contents of the Financial Statements |
for the Year Ended 31 January 2023 |
Page |
Company Information | 1 |
Statement of Financial Position | 2 |
Notes to the Financial Statements | 4 |
Ark Group Services Ltd |
Company Information |
for the Year Ended 31 January 2023 |
DIRECTORS: |
REGISTERED OFFICE: |
REGISTERED NUMBER: |
ACCOUNTANTS: |
Chartered Accountants |
1 Minster Court |
Tuscam Way |
Camberley |
Surrey |
GU15 3YY |
Ark Group Services Ltd (Registered number: 05995846) |
Statement of Financial Position |
31 January 2023 |
2023 | 2022 |
Notes | £ | £ |
FIXED ASSETS |
Intangible assets | 4 |
Tangible assets | 5 |
CURRENT ASSETS |
Stocks | 6 |
Debtors | 7 |
Cash at bank |
CREDITORS |
Amounts falling due within one year | 8 | ( |
) | ( |
) |
NET CURRENT ASSETS |
TOTAL ASSETS LESS CURRENT LIABILITIES |
CREDITORS |
Amounts falling due after more than one year |
9 |
( |
) |
( |
) |
PROVISIONS FOR LIABILITIES | ( |
) | ( |
) |
NET ASSETS |
CAPITAL AND RESERVES |
Called up share capital |
Retained earnings |
SHAREHOLDERS' FUNDS |
The directors acknowledge their responsibilities for: |
(a) | ensuring that the company keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006 and |
(b) | preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of each financial year and of its profit or loss for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the company. |
Ark Group Services Ltd (Registered number: 05995846) |
Statement of Financial Position - continued |
31 January 2023 |
In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered. |
The financial statements were approved by the Board of Directors and authorised for issue on |
Ark Group Services Ltd (Registered number: 05995846) |
Notes to the Financial Statements |
for the Year Ended 31 January 2023 |
1. | STATUTORY INFORMATION |
Ark Group Services Ltd is a |
The presentation currency of the financial statements is the Pound Sterling (£). |
2. | ACCOUNTING POLICIES |
Basis of preparing the financial statements |
Turnover |
Turnover represents net invoiced sales of services and goods, excluding value added tax. |
Turnover is recognised on services under contracts to the extent that there is a right to consideration and is recorded at the value of the consideration due. |
When the right to consideration has been earned in advance of the invoice being raised, the amounts are recorded as accrued income and included as part of debtors due within one year. |
Goodwill |
Goodwill relates to a business acquired in 2007 and is amortised to the Income Statement over its estimated economic life. The directors reassess the position at the end of each financial year and are currently amortising goodwill over 10 years. |
Tangible fixed assets |
Plant and machinery | - |
Motor vehicles | - |
Computer equipment | - |
Government grants |
Grants comprise amounts received under the Government's Job Retention Scheme, the Government's Coronavirus support scheme and a Business Interruption Loan Agreement. All amounts are recognised in the Income Statement once the relevant performance conditions have been met. |
Stocks |
Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items. |
Taxation |
Taxation for the year comprises current and deferred tax. Tax is recognised in the Income Statement, except to the extent that it relates to items recognised in other comprehensive income or directly in equity. |
Current or deferred taxation assets and liabilities are not discounted. |
Current tax is recognised at the amount of tax payable using the tax rates and laws that have been enacted or substantively enacted by the statement of financial position date. |
Ark Group Services Ltd (Registered number: 05995846) |
Notes to the Financial Statements - continued |
for the Year Ended 31 January 2023 |
2. | ACCOUNTING POLICIES - continued |
Deferred tax |
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the statement of financial position date. |
Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from those in which they are recognised in financial statements. Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the year end and that are expected to apply to the reversal of the timing difference. |
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. |
Hire purchase and operating leases |
Assets obtained under hire purchase contracts are capitalised in the Statement of Financial Position. Those held under hire purchase contracts are depreciated over their estimated useful lives. |
The interest element of these obligations is charged to the Income Statement over the relevant period. The capital element of the future payments is treated as a liability. |
Rentals paid under operating leases are charged to the Income Statement on a straight line basis over the period of the lease. |
Pension costs and other post-retirement benefits |
The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to the Income Statement in the period to which they relate. |
3. | EMPLOYEES AND DIRECTORS |
The average number of employees during the year was |
4. | INTANGIBLE FIXED ASSETS |
Goodwill |
£ |
COST |
At 1 February 2022 |
and 31 January 2023 |
AMORTISATION |
At 1 February 2022 |
Amortisation for year |
At 31 January 2023 |
NET BOOK VALUE |
At 31 January 2023 |
At 31 January 2022 |
Ark Group Services Ltd (Registered number: 05995846) |
Notes to the Financial Statements - continued |
for the Year Ended 31 January 2023 |
5. | TANGIBLE FIXED ASSETS |
Plant and | Motor | Computer |
machinery | vehicles | equipment | Totals |
£ | £ | £ | £ |
COST |
At 1 February 2022 |
Additions |
At 31 January 2023 |
DEPRECIATION |
At 1 February 2022 |
Charge for year |
At 31 January 2023 |
NET BOOK VALUE |
At 31 January 2023 |
At 31 January 2022 |
6. | STOCKS |
2023 | 2022 |
£ | £ |
Stocks |
7. | DEBTORS |
2023 | 2022 |
£ | £ |
Amounts falling due within one year: |
Trade debtors |
Other debtors |
Director's current account | 10,783 | 42,788 |
Prepayments |
Amounts falling due after more than one year: |
Other debtors |
Aggregate amounts |
Ark Group Services Ltd (Registered number: 05995846) |
Notes to the Financial Statements - continued |
for the Year Ended 31 January 2023 |
8. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
2023 | 2022 |
£ | £ |
Bank loans and overdrafts |
Hire purchase contracts (see note 10) |
Trade creditors |
Tax |
Social security and other taxes |
VAT | 56,065 | 52,928 |
Other creditors |
Wages control | 54,225 | 35,907 |
Director's current account | 11,907 | 25,313 |
9. | CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR |
2023 | 2022 |
£ | £ |
Bank loans - 1-2 years |
Bank loans - 2-5 years |
Hire purchase contracts (see note 10) |
10. | LEASING AGREEMENTS |
Minimum lease payments fall due as follows: |
Hire purchase contracts |
2023 | 2022 |
£ | £ |
Net obligations repayable: |
Within one year |
Between one and five years |
Non-cancellable operating | leases |
2023 | 2022 |
£ | £ |
Within one year |
Between one and five years |
11. | SECURED DEBTS |
The following secured debts are included within creditors: |
2023 | 2022 |
£ | £ |
Hire purchase contracts | 148,783 | 88,302 |
The hire purchase contracts are secured on the assets held under these contracts. |
Ark Group Services Ltd (Registered number: 05995846) |
Notes to the Financial Statements - continued |
for the Year Ended 31 January 2023 |
12. | DIRECTORS' ADVANCES, CREDITS AND GUARANTEES |
The following advances and credits to directors subsisted during the years ended 31 January 2023 and 31 January 2022: |
2023 | 2022 |
£ | £ |
Balance outstanding at start of year | ( |
) | ( |
) |
Amounts advanced |
Amounts repaid | ( |
) | ( |
) |
Amounts written off | - | - |
Amounts waived | - | - |
Balance outstanding at end of year | ( |
) | ( |
) |
Balance outstanding at start of year | ( |
) |
Amounts advanced |
Amounts repaid | ( |
) | ( |
) |
Amounts written off | - | - |
Amounts waived | - | - |
Balance outstanding at end of year |
The above loans are unsecured, repayable on demand and where applicable, interest has been charged at the HMRC approved rate. |
13. | RELATED PARTY DISCLOSURES |
Included under other debtors are amounts totalling £18,627 for loan accounts with shareholders. These loans are unsecured, repayable on demand and where applicable, interest has been charged at the HMRC approved rate. |
Included under other debtors are amounts totalling £884,161 for amounts due from entities under common control. These amounts are unsecured, interest free and repayable on demand. |