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REGISTERED NUMBER: 13058708 (England and Wales)















Unaudited Financial Statements for the Year Ended 31 December 2022

for

Arctic Circle Developments Ltd

Arctic Circle Developments Ltd (Registered number: 13058708)






Contents of the Financial Statements
for the Year Ended 31 December 2022




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 3


Arctic Circle Developments Ltd

Company Information
for the Year Ended 31 December 2022







DIRECTORS: Mr Paul Anthony Williams
Ms Holly Kennedy





REGISTERED OFFICE: 9 Hawthorns Grove
Liverpool
Merseyside
L12 1NE





REGISTERED NUMBER: 13058708 (England and Wales)





ACCOUNTANTS: LJS Accounting Services (UK) Ltd
Unit 5, 1st Floor
Connect Business Village
24 Derby Road
Liverpool
Merseyside
L5 9PR

Arctic Circle Developments Ltd (Registered number: 13058708)

Balance Sheet
31 December 2022

31.12.22 31.12.21
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 197,082 152,880

CURRENT ASSETS
Cash at bank 7 28

CREDITORS
Amounts falling due within one year 5 215,929 161,390
NET CURRENT LIABILITIES (215,922 ) (161,362 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

(18,840

)

(8,482

)

CAPITAL AND RESERVES
Called up share capital 7 2 2
Retained earnings 8 (18,842 ) (8,484 )
SHAREHOLDERS' FUNDS (18,840 ) (8,482 )

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 December 2022.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 December 2022 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 Income Statement has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 6 February 2024 and were signed on its behalf by:





Mr Paul Anthony Williams - Director


Arctic Circle Developments Ltd (Registered number: 13058708)

Notes to the Financial Statements
for the Year Ended 31 December 2022

1. STATUTORY INFORMATION

Arctic Circle Developments Ltd is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.

2. 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.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Freehold property - 2% on cost

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 balance sheet date.

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.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 2 (2021 - 2 ) .

Arctic Circle Developments Ltd (Registered number: 13058708)

Notes to the Financial Statements - continued
for the Year Ended 31 December 2022

4. TANGIBLE FIXED ASSETS
Freehold
property
£   
COST
At 1 January 2022 156,000
Additions 48,288
At 31 December 2022 204,288
DEPRECIATION
At 1 January 2022 3,120
Charge for year 4,086
At 31 December 2022 7,206
NET BOOK VALUE
At 31 December 2022 197,082
At 31 December 2021 152,880

5. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.12.22 31.12.21
£    £   
Other loans (see note 6) 136,682 74,998
Other creditors - 1,394
Directors' current accounts 78,538 84,498
Accrued expenses 709 500
215,929 161,390

6. LOANS

An analysis of the maturity of loans is given below:

31.12.22 31.12.21
£    £   
Amounts falling due within one year or on demand:
Other loans 136,682 74,998

7. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 31.12.22 31.12.21
value: £    £   
2 Ordinary £1 2 2

Arctic Circle Developments Ltd (Registered number: 13058708)

Notes to the Financial Statements - continued
for the Year Ended 31 December 2022

8. RESERVES
Retained
earnings
£   

At 1 January 2022 (8,484 )
Deficit for the year (10,358 )
At 31 December 2022 (18,842 )