2022-03-012023-02-282023-02-28false03793497The Arcade (Llandysul) 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The Arcade (Llandysul) Limited

Registered Number
03793497
(England and Wales)

Unaudited Financial Statements for the Year ended
28 February 2023

The Arcade (Llandysul) Limited
Company Information
for the year from 1 March 2022 to 28 February 2023

Directors

Catherine Janice Davies
Jayne Margaret Ludgate
Mark Joseph Ludgate

Registered Address

The Arcade
High Street
Llandysul
SA44 4DJ

Registered Number

03793497 (England and Wales)
The Arcade (Llandysul) Limited
Balance Sheet as at
28 February 2023

Notes

2023

2022

£

£

£

£

Fixed assets
Tangible assets61,308,4471,204,838
1,308,4471,204,838
Current assets
Stocks1,157,230824,875
Debtors8319,717352,155
Cash at bank and on hand1,167,549925,677
2,644,4962,102,707
Creditors amounts falling due within one year9(654,822)(632,116)
Net current assets (liabilities)1,989,6741,470,591
Total assets less current liabilities3,298,1212,675,429
Creditors amounts falling due after one year(150,855)(173,679)
Provisions for liabilities(38,644)(17,497)
Net assets3,108,6222,484,253
Capital and reserves
Called up share capital2,0022,002
Profit and loss account3,106,6202,482,251
Shareholders' funds3,108,6222,484,253
The financial statements were approved and authorised for issue by the Board of Directors on 19 September 2023, and are signed on its behalf by:
Jayne Margaret Ludgate
Director
Registered Company No. 03793497
The Arcade (Llandysul) Limited
Notes to the Financial Statements
for the year ended 28 February 2023

1.Statutory information
The company is a private company limited by shares and registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.
2.Compliance with applicable reporting framework
The financial statements have been prepared in compliance with FRS 102 Section 1A as it applies to the financial statements for the period and there were no material departures from the reporting standard.
3.Accounting policies
Property, plant and equipment policy
Tangible fixed assets are stated at cost or valuation less depreciation. Depreciation is provided on all tangible fixed assets as follows:
Intangible assets policy
Goodwill arising in connection with the acquisition of businesses was capitalised and has been amortised over its estimated economic life to a maximum of 20 years Goodwill is reviewed annually for impairment if events or changes in circumstances indicate that the carrying value may not be recoverable.
Stocks policy
Stocks are valued at the lower of cost and estimated selling price (less any associated costs to enable such sales to complete).
Revenue recognition policy
Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods have transferred to the buyer. Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs.
Deferred tax policy
Deferred tax is recognised in respect of all timing differences between the recognition of income and expenses in the financial statements and their inclusion in tax assessments. 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. 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, except for revalued land and investment property where the tax rate that applies to the sale of the asset is used. Current and deferred tax assets and liabilities are not discounted.
Foreign currency translation and operations policy
Transactions in foreign currencies are initially recognised at the rate of exchange ruling at the date of the transaction. At the end of each reporting period foreign currency monetary items are translated at the closing rate of exchange. Non-monetary items that are measured at historical cost are translated at the rate ruling at the date of the transaction. All differences are charged to profit or loss.
Leases policy
Assets held under finance leases which are leases where substantially all the risks and rewards of ownership of the asset have passed to the company, and hire purchase contracts are capitalised in the balance sheet. They are depreciated over the shorter of their useful lives or the term of the lease.
Employee benefits policy
Contributions to defined contribution plans are expensed in the period to which they relate.
4.Employee information

20232022
Average number of employees during the year1617
5.Intangible assets

Total

£
Cost or valuation
At 01 March 2213,000
At 28 February 2313,000
Amortisation and impairment
At 01 March 2213,000
At 28 February 2313,000
Net book value
At 28 February 23-
At 28 February 22-
6.Property, plant and equipment

Total

£
Cost or valuation
At 01 March 221,452,605
Additions138,662
At 28 February 231,583,572
Depreciation and impairment
At 01 March 22247,767
Charge for year35,053
At 28 February 23275,125
Net book value
At 28 February 231,308,447
At 28 February 221,204,838
7.Directors advances, credits and guarantees
The directors' have lent money to the company. The company owed them £145,668 (2022 - £142,668).
8.Debtors

2023

2022

££
Trade debtors / trade receivables271,566301,120
Other debtors-17,666
Prepayments and accrued income48,15133,369
Total319,717352,155
Short term debtors are measured at transaction price (which is usually the invoice price), less any impairment losses for bad and doubtful debts. Loans and other financial assets are initially recognised at transaction price including any transaction costs and subsequently measured at amortised cost determined using the effective interest method, less any impairment losses for bad and doubtful debts.
9.Creditors within one year

2023

2022

££
Trade creditors / trade payables339,886404,288
Bank borrowings and overdrafts159,669152,669
Taxation and social security130,11672,259
Other creditors12,251-
Accrued liabilities and deferred income12,9002,900
Total654,822632,116
Short term creditors are measured at transaction price (which is usually the invoice price). Loans and other financial liabilities are initially recognised at transaction price net of any transaction costs and subsequently measured at amortised cost determined using the effective interest method.