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REGISTERED NUMBER: 06959801 (England and Wales)














FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 AUGUST 2023

FOR

ARKTECH (NE) LIMITED

ARKTECH (NE) LIMITED (REGISTERED NUMBER: 06959801)






CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 AUGUST 2023




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


ARKTECH (NE) LIMITED

COMPANY INFORMATION
FOR THE YEAR ENDED 31 AUGUST 2023







DIRECTORS: B Stansfield
S Bates





SECRETARY: S Bates





REGISTERED OFFICE: 1 Lee Close
Pattinson North Industrial Estate
Washington
Tyne and Wear
NE38 8QF





REGISTERED NUMBER: 06959801 (England and Wales)





ACCOUNTANTS: Ribchesters
Chartered Accountants
Finchale House
Belmont Business Park
Durham
DH1 1TW

ARKTECH (NE) LIMITED (REGISTERED NUMBER: 06959801)

BALANCE SHEET
31 AUGUST 2023

2023 2022
Notes £    £    £    £   
FIXED ASSETS
Intangible assets 4 - -
Tangible assets 5 185,482 193,801
185,482 193,801

CURRENT ASSETS
Stocks 5,000 3,000
Debtors 6 466,804 428,492
Cash at bank and in hand 414,886 257,023
886,690 688,515
CREDITORS
Amounts falling due within one year 7 334,115 223,329
NET CURRENT ASSETS 552,575 465,186
TOTAL ASSETS LESS CURRENT
LIABILITIES

738,057

658,987

PROVISIONS FOR LIABILITIES 14,936 16,234
NET ASSETS 723,121 642,753

CAPITAL AND RESERVES
Called up share capital 9 130 130
Revaluation reserve 10 19,970 20,526
Capital redemption reserve 70 70
Retained earnings 702,951 622,027
SHAREHOLDERS' FUNDS 723,121 642,753

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

The members have not required the company to obtain an audit of its financial statements for the year ended 31 August 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.

ARKTECH (NE) LIMITED (REGISTERED NUMBER: 06959801)

BALANCE SHEET - continued
31 AUGUST 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 Income Statement has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 11 March 2024 and were signed on its behalf by:





B Stansfield - Director


ARKTECH (NE) LIMITED (REGISTERED NUMBER: 06959801)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 AUGUST 2023

1. STATUTORY INFORMATION

Arktech (NE) 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 as modified by the revaluation of certain assets.

Turnover
Turnover represents invoiced sales of goods & services arising from the principal activity, net of value added tax.

In respect of turnover arising from contractual arrangements, income is attributed to the profit and loss account as contract activity progresses in a manner appropriate to the stage of completion of each individual contract.

Goodwill
Goodwill, being the amount paid in connection with the acquisition of a business in 2009, is being amortised evenly over its estimated useful life of ten years.

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.

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
Plant and machinery - 25% on cost
Fixtures and fittings - 25% on reducing balance
Motor vehicles - 25% on reducing balance
Computer equipment - 25% on cost

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 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.


ARKTECH (NE) LIMITED (REGISTERED NUMBER: 06959801)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 AUGUST 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.

Hire purchase and leasing commitments
Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease.

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.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 31 (2022 - 31 ) .

4. INTANGIBLE FIXED ASSETS
Goodwill
£   
COST
At 1 September 2022
and 31 August 2023 59,999
AMORTISATION
At 1 September 2022
and 31 August 2023 59,999
NET BOOK VALUE
At 31 August 2023 -
At 31 August 2022 -

ARKTECH (NE) LIMITED (REGISTERED NUMBER: 06959801)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 AUGUST 2023

5. TANGIBLE FIXED ASSETS
Plant and
Land and machinery
buildings etc Totals
£    £    £   
COST OR VALUATION
At 1 September 2022 150,000 200,185 350,185
Additions - 21,054 21,054
At 31 August 2023 150,000 221,239 371,239
DEPRECIATION
At 1 September 2022 21,844 134,540 156,384
Charge for year 3,000 26,373 29,373
At 31 August 2023 24,844 160,913 185,757
NET BOOK VALUE
At 31 August 2023 125,156 60,326 185,482
At 31 August 2022 128,156 65,645 193,801

Cost or valuation at 31 August 2023 is represented by:

Plant and
Land and machinery
buildings etc Totals
£    £    £   
Valuation in 2023 150,000 221,239 371,239

If freehold property had not been revalued it would have been included at the following historical cost:

2023 2022
£    £   
Cost 122,188 122,188
Aggregate depreciation 13,180 13,180

Freehold property was valued on an open market basis on 31 August 2023 by the directors .

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Trade debtors 373,505 374,840
Amounts recoverable on
contracts 61,235 5,975
Other debtors 32,064 47,677
466,804 428,492

ARKTECH (NE) LIMITED (REGISTERED NUMBER: 06959801)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 AUGUST 2023

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Trade creditors 92,170 111,223
Taxation and social security 165,742 79,633
Other creditors 76,203 32,473
334,115 223,329

8. LEASING AGREEMENTS

Minimum lease payments under non-cancellable operating leases fall due as follows:
2023 2022
£    £   
Within one year 14,100 14,100
Between one and five years 1,175 15,275
15,275 29,375

9. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 2023 2022
value: £    £   
30 Ordinary £1 30 30
100 Classes A-E £1 100 100
130 130

10. RESERVES
Revaluation
reserve
£   
At 1 September 2022 20,526
Transfer (556 )

At 31 August 2023 19,970

11. RELATED PARTY DISCLOSURES

During the year the directors made a interest free loan to the company. As at 31 August 2023 the amount outstanding was £40,848 (2022: 972).