Arborfor Limited |
Notes to the Accounts |
for the year ended 31 May 2023 |
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1 |
Accounting policies |
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Basis of preparation |
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The accounts have been prepared under the historical cost convention and in accordance with FRS 102, The Financial Reporting Standard applicable in the UK and Republic of Ireland (as applied to small entities by section 1A of the standard). |
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Turnover |
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Turnover is measured at the fair value of the consideration received or receivable, net of discounts. Turnover includes revenue earned from the sale of goods and from the rendering of services. |
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Tangible fixed assets |
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Tangible fixed assets are measured at cost less accumulative depreciation and any accumulative impairment losses. Depreciation is provided on all tangible fixed assets at rates calculated to write off the cost, less estimated residual value, of each asset over its expected useful life, as follows: |
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Office equipment |
20% of reducing balance |
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Plant and machinery |
15% of reducing balance |
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Motor vehicles |
20% of reducing balance |
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Stock |
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Stock is measured at the lower of cost and estimated selling price less costs to complete and sell. The carrying amount of stock sold is recognised as an expense in the period in which the related revenue is recognised. |
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Debtors |
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Short term debtors are measured at transaction price, less any impairment losses for bad and doubtful debts. |
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Creditors |
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Short term creditors are measured at transaction price. |
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Taxation |
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A current tax liability is recognised for the tax payable on the taxable profit of the current and past periods. 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. 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. |
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2 |
Employees |
2023 |
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2022 |
Number |
Number |
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Average number of persons employed by the company |
1 |
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1 |
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3 |
Tangible fixed assets |
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Office equipment |
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Plant and machinery |
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Motor vehicles |
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Total |
£ |
£ |
£ |
£ |
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Cost |
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At 1 June 2022 |
2,886 |
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27,025 |
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4,350 |
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34,261 |
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At 31 May 2023 |
2,886 |
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27,025 |
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4,350 |
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34,261 |
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Depreciation |
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At 1 June 2022 |
2,565 |
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23,721 |
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4,318 |
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30,604 |
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Charge for the year |
64 |
|
496 |
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6 |
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566 |
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At 31 May 2023 |
2,629 |
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24,217 |
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4,324 |
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31,170 |
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Net book value |
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At 31 May 2023 |
257 |
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2,808 |
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26 |
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3,091 |
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At 31 May 2022 |
321 |
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3,304 |
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32 |
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3,657 |
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4 |
Debtors |
2023 |
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2022 |
£ |
£ |
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Trade debtors |
3,360 |
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420 |
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Accrued income |
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- |
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2,105 |
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3,360 |
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2,525 |
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5 |
Creditors: amounts falling due within one year |
2023 |
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2022 |
£ |
£ |
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Trade creditors and accruals |
3,411 |
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3,504 |
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Director's loan |
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19,760 |
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15,084 |
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23,171 |
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18,588 |
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6 |
Continuing financial support |
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The future of the company remains dependent upon the continuing financial support of the sole director and shareholder, B G L Turner. With such support having been confirmed, the accounts have been prepared on a going concern basis. |
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7 |
Other information |
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Arborfor Limited is a private company limited by shares and incorporated in England. Its registered office is: |
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Houghton House |
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Ringmore |
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Kingsbridge |
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Devon |
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TQ7 4HH |