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Registration number: 07066095

Arc Seven Communications Ltd

Annual Report and Unaudited Filleted Financial Statements

for the Year Ended 30 November 2023

 

Arc Seven Communications Ltd

Contents

Company Information

1

Balance Sheet

2 to 3

Notes to the Unaudited Financial Statements

4 to 7

 

Arc Seven Communications Ltd

Company Information

Directors

A R Clay

Dr G Clay

Registered office

The Enterprise Centre
University of East Anglia
University Drive
Norwich
Norfolk
NR4 7TJ

Accountants

Burton Sweet Limited
Chartered Accountants and Business Advisers
Cooper House
Lower Charlton Estate
Shepton Mallet
Somerset
BA4 5QE

 

Arc Seven Communications Ltd

(Registration number: 07066095)
Balance Sheet
30 November 2023

Note

2023
£

2022
£

Fixed assets

 

Tangible assets

4

2,746

4,214

Current assets

 

Debtors

5

54,123

57,075

Cash at bank and in hand

 

59,656

60,697

 

113,779

117,772

Creditors: Amounts falling due within one year

6

(50,871)

(50,775)

Net current assets

 

62,908

66,997

Net assets

 

65,654

71,211

Capital and reserves

 

Called up share capital

14

14

Retained earnings

65,640

71,197

Shareholders' funds

 

65,654

71,211

 

Arc Seven Communications Ltd

(Registration number: 07066095)
Balance Sheet
30 November 2023

For the financial year ending 30 November 2023 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Directors' responsibilities:

The members have not required the company to obtain an audit of its accounts for the year in question in accordance with section 476; and

The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

These financial statements have been prepared in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006.

These financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime and the option not to file the Profit and Loss Account has been taken.

Approved and authorised by the Board on 5 April 2024 and signed on its behalf by:
 



Dr G Clay
Director

 

Arc Seven Communications Ltd

Notes to the Unaudited Financial Statements
Year Ended 30 November 2023

1

General information

The company is a private company limited by share capital, incorporated in England and Wales.

The address of its registered office is:
The Enterprise Centre
University of East Anglia
University Drive
Norwich
Norfolk
NR4 7TJ

These financial statements were authorised for issue by the Board on 5 April 2024.

2

Accounting policies

Summary of significant accounting policies and key accounting estimates

The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.

Statement of compliance

These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A smaller entities - 'The Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland' and the Companies Act 2006 (as applicable to companies subject to the small companies' regime).

Basis of preparation

These financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.

Revenue recognition

Turnover comprises the fair value of the consideration receivable for the provision of services in the ordinary course of the company’s activities. Turnover is shown net of value added tax.

Tax

The tax expense for the period comprises current tax and tax is recognised in profit or loss.

The current corporation tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the reporting date in the countries where the company operates and generates taxable income.

 

Arc Seven Communications Ltd

Notes to the Unaudited Financial Statements
Year Ended 30 November 2023

Tangible assets

Tangible assets are stated in the balance sheet at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.

The cost of tangible assets includes directly attributable incremental costs incurred in their acquisition and installation.

Depreciation

Depreciation is charged so as to write off the cost of assets, other than land and properties under construction over their estimated useful lives, as follows:

Asset class

Depreciation method and rate

Plant & Machinery

25% on the reducing balance

Office equipment

25% straight line

Furniture, fixtures & fittings

20% on the reducing balance

Trade debtors

Trade debtors are amounts due from customers for services performed in the ordinary course of business and are recognised initially at the transaction price. A provision for the impairment of trade debtors is established when there is objective evidence that the company will not be able to collect all amounts due.

Trade creditors

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers and are recognised initially at the transaction price.

Leases

Leases in which substantially all the risks and rewards of ownership are retained by the lessor are classified as operating leases. Payments made under operating leases are charged to profit or loss on a straight-line basis over the period of the lease.

Defined contribution pension obligation

A defined contribution plan is a pension plan under which fixed contributions are paid into a pension fund and the company has no legal or constructive obligation to pay further contributions even if the fund does not hold sufficient assets to pay all employees the benefits relating to employee service in the current and prior periods.

Contributions to defined contribution plans are recognised as employee benefit expense when they are due. If contribution payments exceed the contribution due for service, the excess is recognised as a prepayment.

3

Staff numbers

The average number of persons employed by the company (including directors) during the year, was 2 (2022 - 2).

 

Arc Seven Communications Ltd

Notes to the Unaudited Financial Statements
Year Ended 30 November 2023

4

Tangible assets

Fixtures and fittings
£

Plant and machinery
£

Office equipment
£

Total
£

Cost or valuation

At 1 December 2022

670

1,984

6,330

8,984

Additions

-

430

-

430

At 30 November 2023

670

2,414

6,330

9,414

Depreciation

At 1 December 2022

530

1,274

2,966

4,770

Charge for the year

28

284

1,586

1,898

At 30 November 2023

558

1,558

4,552

6,668

Carrying amount

At 30 November 2023

112

856

1,778

2,746

At 30 November 2022

140

710

3,364

4,214

5

Debtors

2023
£

2022
£

Trade debtors

19,450

25,664

Other debtors

34,068

28,903

Prepayments

605

2,508

54,123

57,075

 

Arc Seven Communications Ltd

Notes to the Unaudited Financial Statements
Year Ended 30 November 2023

6

Creditors

Creditors: amounts falling due within one year

2023
£

2022
£

Due within one year

 

Trade creditors

 

1,889

694

Taxation and social security

 

46,618

46,369

Other creditors

 

2,364

3,712

 

50,871

50,775