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REGISTERED NUMBER: 06135100 (England and Wales)





UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED

30TH JUNE 2023

FOR

ARAD METERING SERVICES (UK) LIMITED

ARAD METERING SERVICES (UK) LIMITED (REGISTERED NUMBER: 06135100)

CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30TH JUNE 2023










Page

Company information 1

Balance sheet 2

Notes to the financial statements 4


ARAD METERING SERVICES (UK) LIMITED

COMPANY INFORMATION
FOR THE YEAR ENDED 30TH JUNE 2023







Director: S C Ogden





Secretary: Ms R J Ogden





Registered office: Network House
Thorn Office Centre
Rotherwas
Hereford
HR2 6JT





Registered number: 06135100 (England and Wales)

ARAD METERING SERVICES (UK) LIMITED (REGISTERED NUMBER: 06135100)

BALANCE SHEET
30TH JUNE 2023

30.6.23 30.6.22
Notes £ £ £ £
Fixed assets
Intangible assets 4 - -
Tangible assets 5 151,006 5,195
151,006 5,195

Current assets
Stocks 6 890,609 213,642
Debtors 7 142,035 191,096
Cash at bank 1,316,120 1,098,223
2,348,764 1,502,961
Creditors
Amounts falling due within one year 8 1,523,484 632,740
Net current assets 825,280 870,221
Total assets less current liabilities 976,286 875,416

Provisions for liabilities 10 37,800 1,300
Net assets 938,486 874,116

Capital and reserves
Called up share capital 11 1,000 1,000
Retained earnings 937,486 873,116
Shareholders' funds 938,486 874,116

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30th June 2023.

The members have not required the company to obtain an audit of its financial statements for the year ended 30th June 2023 in accordance with Section 476 of the Companies Act 2006.

The director acknowledges his 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.

ARAD METERING SERVICES (UK) LIMITED (REGISTERED NUMBER: 06135100)

BALANCE SHEET - continued
30TH JUNE 2023


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 Statement of income and retained earnings has not been delivered.

The financial statements were approved by the director and authorised for issue on 29th February 2024 and were signed by:





S C Ogden - Director


ARAD METERING SERVICES (UK) LIMITED (REGISTERED NUMBER: 06135100)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30TH JUNE 2023


1. Statutory information

Arad Metering Services (UK) Limited 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.

Turnover
The turnover, all of which arises in the UK, consists of invoiced sales net of returns, trade discounts and value added tax.

Intangible fixed assets
Goodwill is shown in the Balance Sheet at cost less amortisation and has been amortised at 10% per annum as the director considers that its useful life is 10 years.

Tangible fixed assets
Tangible fixed assets are stated in the Balance Sheet at cost less depreciation. Depreciation is provided at the following rates, on the straight line method, in order to write off each asset over its estimated useful life:

Leasehold improvements15% SL
Plant & equipment15% SL
Motor vehicles25% SL

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 Statement of Income and Retained Earnings, 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.


ARAD METERING SERVICES (UK) LIMITED (REGISTERED NUMBER: 06135100)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 30TH JUNE 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 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.

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 profit or loss in the period to which they relate.

ARAD METERING SERVICES (UK) LIMITED (REGISTERED NUMBER: 06135100)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 30TH JUNE 2023


2. Accounting policies - continued

Financial instruments
The company has elected to apply the provisions of Section 11 'Basic Financial Instruments' and 'Other Financial Instruments Issues' of FRS102 to all of its financial instruments.

Financial instruments are recognised in the company's statement of financial position when the company becomes party to the contractual provisions of the instrument.

Financial assets and liabilities are offset and the net amounts presented in the financial statements when there is a legally enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously.

Basic financial assets
Basic financial assets, which include trade and other receivables and cash and bank balances, are measured at transaction price less any impairment. Loans receivable are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method, less any impairment.

Other financial assets
Other financial assets, including investments in equity instruments which are not subsidiaries, associates or joint ventures, are initially measured at fair value, which is normally the transaction price. Such assets are subsequently carried at fair value and the changes in fair value are recognised in profit or loss, except that investments in equity instruments that are not publicly traded and whose fair values cannot be measured reliably are measured at the cost less impairment.

Impairment of financial assets
Financial assets, other than those held at fair value through profit and loss, are assessed for indicators of impairment at each reporting date.

Financial assets are impaired where there is objective evidence that, as a result of one or more events that occurred after initial recognition of the financial asset, the estimated future cash flows have been affected. If an asset is impaired, the impairment loss is the difference between the carrying amount and the present value of the estimated cash flows discounted at the assets original effective interest rate. The impairment loss is recognised in profit or loss.

If there is a decrease in the impairment loss arising from an event occurring after the impairment was recognised, the impairment is reversed. The reversal is such that the current carrying amount does not exceed what the carrying amount would have been, had the impairment not previously been recognised. The impairment reversal is recognised in profit or loss.

Derecognition of financial assets
Financial assets are derecognised only when the contractual rights to the cash flows from the asset expire or are settled, or when the group transfers the financial asset and substantially all of the risks and rewards of the ownership to another entity, or if some significant risks and rewards of ownership are retained but control of the asset has transferred to another party that is able to sell the asset in its entirety to an unrelated third party.




ARAD METERING SERVICES (UK) LIMITED (REGISTERED NUMBER: 06135100)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 30TH JUNE 2023


2. Accounting policies - continued
Classification of financial liabilities
Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instrument is any contract that evidences a residual interest in the assets of the group after deducing all of its liabilities.
Basic financial liabilities, including trade and other payables are measured at the transaction price. Other financial liabilities, including bank loans, loans from fellow group companies and preference shares that are classified as debt, are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method.

Other financial liabilities
Derivatives, including interest rate swaps and forward foreign exchange contracts, are not basic financial instruments. Derivatives are initially recognised at fair value on the date a derivative contract is entered into and are subsequently re-measured at their fair value. Changes in the fair value of derivatives are recognised in profit or loss in finance costs or finance income as appropriate, unless hedge accounting is applied and the hedge is a cash flow hedge.

Derecognition of financial liabilities
Financial liabilities are derecognised when the group's contractual obligations expire or are discharged or cancelled.

3. Employees (including officers)

The average number of employees during the year was 3 (2022 - 3 ) .

4. Intangible fixed assets
Goodwill
£
Cost
At 1st July 2022
and 30th June 2023 100,000
Amortisation
At 1st July 2022
and 30th June 2023 100,000
Net book value
At 30th June 2023 -
At 30th June 2022 -

ARAD METERING SERVICES (UK) LIMITED (REGISTERED NUMBER: 06135100)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 30TH JUNE 2023


5. Tangible fixed assets
Leasehold Plant & Motor
improvements equipment vehicles Totals
£ £ £ £
Cost
At 1st July 2022 3,000 24,363 40,470 67,833
Additions - 1,747 195,650 197,397
Disposals - (3,566 ) (10,858 ) (14,424 )
At 30th June 2023 3,000 22,544 225,262 250,806
Depreciation
At 1st July 2022 3,000 19,168 40,470 62,638
Charge for year - 1,652 48,912 50,564
Eliminated on disposal - (2,544 ) (10,858 ) (13,402 )
At 30th June 2023 3,000 18,276 78,524 99,800
Net book value
At 30th June 2023 - 4,268 146,738 151,006
At 30th June 2022 - 5,195 - 5,195

6. Stocks
30.6.23 30.6.22
£ £
Goods for resale 890,609 213,642

7. Debtors: amounts falling due within one year
30.6.23 30.6.22
£ £
Trade debtors 119,366 170,443
Other debtors & prepayments 22,669 20,653
142,035 191,096

8. Creditors: amounts falling due within one year
30.6.23 30.6.22
£ £
Trade creditors 1,440,821 543,153
Corporation tax 3,600 6,000
Social security & other tax 77,846 65,206
Other creditors 177 16,501
Director's loan account 1,040 1,880
1,523,484 632,740

ARAD METERING SERVICES (UK) LIMITED (REGISTERED NUMBER: 06135100)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 30TH JUNE 2023


9. Leasing agreements

Minimum lease payments under non-cancellable operating leases fall due as follows:
30.6.23 30.6.22
£ £
Within one year - 13,331

10. Provisions for liabilities
30.6.23 30.6.22
£ £
Deferred tax 37,800 1,300

Deferred tax
£
Balance at 1st July 2022 1,300
Provided during year 36,500
Balance at 30th June 2023 37,800

11. Called up share capital

Allotted, issued and fully paid:


Number: Class: Nominal 31.6.23 31.6.22
value: £    £   

250 Ordinary A shares £1 250 250
250 Ordinary B shares £1 250 250
250 Ordinary C shares £1 250 250
250 Ordinary D shares £1 250 250
1,000 1,000

12. Contingent liabilities & lease commitments

There were no contingent liabilities or lease commitments at 30th June 2023.

ARAD METERING SERVICES (UK) LIMITED (REGISTERED NUMBER: 06135100)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 30TH JUNE 2023


13. Related party disclosures

The director
During the year, the director used a current account with the company to record amounts due to them and amounts drawn by them. The balance at the year end was £1,040 owed by the company (2022: £1,880).

The following transactions with related parties , on normal commercial terms, took place during the year:

Loans repaidCreditor balance
£   £   
Other related parties6,977132