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Arcus Compliance Limited

Financial Statements for the Year Ended 31 May 2023






Arcus Compliance Limited

Company Information
for the Year Ended 31 May 2023







DIRECTORS: L J Bryan
J C T Walker





REGISTERED OFFICE: Brighton House
Temple Street
Llandrindod Wells
Powys
LD1 5DL





REGISTERED NUMBER: 10757383 (England and Wales)





ACCOUNTANTS: BPU Limited
Chartered Accountants
Radnor House
Greenwood Close
Cardiff Gate Business Park
Cardiff
CF23 8AA

Chartered Accountants' Report to the Board of Directors
on the Unaudited Financial Statements of
Arcus Compliance Limited


The following reproduces the text of the report prepared for the directors in respect of the company's annual unaudited financial statements. In accordance with the Companies Act 2006, the company is only required to file a Balance Sheet. Readers are cautioned that the Income Statement and certain other primary statements and the Report of the Directors are not required to be filed with the Registrar of Companies.

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the financial statements of Arcus Compliance Limited for the year ended 31 May 2023 which comprise the Profit and Loss Account, Balance Sheet and the related notes from the company's accounting records and from information and explanations you have given us.

As a practising member firm of the Institute of Chartered Accountants in England and Wales (ICAEW), we are subject to its ethical and other professional requirements which are detailed within the ICAEW's regulations and guidance at http://www.icaew.com/en/membership/regulations-standards-and-guidance.

This report is made solely to the Board of Directors of Arcus Compliance Limited, as a body, in accordance with our terms of engagement. Our work has been undertaken solely to prepare for your approval the financial statements of Arcus Compliance Limited and state those matters that we have agreed to state to the Board of Directors of Arcus Compliance Limited, as a body, in this report in accordance with ICAEW Technical Release 07/16AAF. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than Arcus Compliance Limited and its Board of Directors, as a body, for our work or for this report.

It is your duty to ensure that Arcus Compliance Limited has kept adequate accounting records and to prepare statutory financial statements that give a true and fair view of the assets, liabilities, financial position and profit of Arcus Compliance Limited. You consider that Arcus Compliance Limited is exempt from the statutory audit requirement for the year.

We have not been instructed to carry out an audit or a review of the financial statements of Arcus Compliance Limited. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory financial statements.






BPU Limited
Chartered Accountants


24 August 2023

Arcus Compliance Limited (Registered number: 10757383)

Balance Sheet
31 May 2023

2023 2022
Notes £    £    £    £   
FIXED ASSETS
Intangible assets 3 72,272 98,197
Tangible assets 4 318,013 292,506
390,285 390,703

CURRENT ASSETS
Debtors 5 48,309 117,555
Cash at bank and in hand 853,777 1,079,933
902,086 1,197,488
CREDITORS
Amounts falling due within one year 6 736,601 1,049,253
NET CURRENT ASSETS 165,485 148,235
TOTAL ASSETS LESS CURRENT
LIABILITIES

555,770

538,938

CREDITORS
Amounts falling due after more than
one year

7

(24,167

)

(34,167

)

PROVISIONS FOR LIABILITIES (60,300 ) (39,300 )
NET ASSETS 471,303 465,471

CAPITAL AND RESERVES
Called up share capital 100 100
Retained earnings 471,203 465,371
SHAREHOLDERS' FUNDS 471,303 465,471

Arcus Compliance Limited (Registered number: 10757383)

Balance Sheet - continued
31 May 2023


The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 May 2023.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 May 2023 in accordance with Section 476 of the Companies Act 2006.

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.

The financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

In accordance with Section 444 of the Companies Act 2006, the Profit and Loss Account has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 24 August 2023 and were signed on its behalf by:





L J Bryan - Director


Arcus Compliance Limited (Registered number: 10757383)

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


1. ACCOUNTING POLICIES

Basis of preparing the financial statements
These financial statements have been prepared in accordance with Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" including the provisions of Section 1A "Small Entities" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.

Turnover
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Intangible assets
Intangible assets are initially measured at cost. After initial recognition, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses.

Software development are being amortised evenly over their estimated useful life of five years.

Computer software is being amortised evenly over its estimated useful life of five years.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Plant and machinery - 15% reducing balance
Motor vehicles - 15% reducing balance
Computer equipment - 15% reducing balance

Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Profit and Loss Account, 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 balance sheet date.


Arcus Compliance Limited (Registered number: 10757383)

Notes to the Financial Statements - continued
for the Year Ended 31 May 2023


1. ACCOUNTING POLICIES - continued
Deferred tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet 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.

Foreign currencies
Assets and liabilities in foreign currencies are translated into sterling at the rates of exchange ruling at the balance sheet date. Transactions in foreign currencies are translated into sterling at the rate of exchange ruling at the date of transaction. Exchange differences are taken into account in arriving at the operating result.

Pension costs
The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate.

2. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 11 (2022 - 11 ) .

3. INTANGIBLE FIXED ASSETS
Software Computer
development software Totals
£    £    £   
COST
At 1 June 2022
and 31 May 2023 105,623 24,000 129,623
AMORTISATION
At 1 June 2022 26,226 5,200 31,426
Amortisation for year 21,125 4,800 25,925
At 31 May 2023 47,351 10,000 57,351
NET BOOK VALUE
At 31 May 2023 58,272 14,000 72,272
At 31 May 2022 79,397 18,800 98,197

Arcus Compliance Limited (Registered number: 10757383)

Notes to the Financial Statements - continued
for the Year Ended 31 May 2023


4. TANGIBLE FIXED ASSETS
Plant and Motor Computer
machinery vehicles equipment Totals
£    £    £    £   
COST
At 1 June 2022 8,359 261,710 47,689 317,758
Additions 2,950 69,785 6,449 79,184
Disposals - (4,500 ) - (4,500 )
At 31 May 2023 11,309 326,995 54,138 392,442
DEPRECIATION
At 1 June 2022 2,985 9,146 13,121 25,252
Charge for year 1,101 43,118 5,872 50,091
Eliminated on disposal - (914 ) - (914 )
At 31 May 2023 4,086 51,350 18,993 74,429
NET BOOK VALUE
At 31 May 2023 7,223 275,645 35,145 318,013
At 31 May 2022 5,374 252,564 34,568 292,506

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Trade debtors 40,948 72,664
Other debtors & prepayments 7,361 44,891
48,309 117,555

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Bank loans and overdrafts 10,000 10,000
Trade creditors 13,723 266,016
Amounts owed to group undertakings 400,000 512,764
Taxes & social security costs 166,717 161,488
Other creditors & accruals 146,161 98,985
736,601 1,049,253

Arcus Compliance Limited (Registered number: 10757383)

Notes to the Financial Statements - continued
for the Year Ended 31 May 2023


7. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN
ONE YEAR
2023 2022
£    £   
Bank loans 24,167 34,167