6 false false false false false false false false false false true false false false false false false No description of principal activity 2022-02-01 Sage Accounts Production Advanced 2023 - FRS102_2023 47,500 9,500 4,750 14,250 33,250 38,000 xbrli:pure xbrli:shares iso4217:GBP 09016579 2022-02-01 2023-01-31 09016579 2023-01-31 09016579 2022-01-31 09016579 2021-02-01 2022-01-31 09016579 2022-01-31 09016579 2021-01-31 09016579 core:PlantMachinery 2022-02-01 2023-01-31 09016579 core:FurnitureFittings 2022-02-01 2023-01-31 09016579 core:MotorVehicles 2022-02-01 2023-01-31 09016579 bus:Director1 2022-02-01 2023-01-31 09016579 core:PlantMachinery 2022-01-31 09016579 core:FurnitureFittings 2022-01-31 09016579 core:MotorVehicles 2022-01-31 09016579 core:PlantMachinery 2023-01-31 09016579 core:FurnitureFittings 2023-01-31 09016579 core:MotorVehicles 2023-01-31 09016579 core:WithinOneYear 2023-01-31 09016579 core:WithinOneYear 2022-01-31 09016579 core:AfterOneYear 2023-01-31 09016579 core:AfterOneYear 2022-01-31 09016579 core:ShareCapital 2023-01-31 09016579 core:ShareCapital 2022-01-31 09016579 core:RetainedEarningsAccumulatedLosses 2023-01-31 09016579 core:RetainedEarningsAccumulatedLosses 2022-01-31 09016579 core:PlantMachinery 2022-01-31 09016579 core:FurnitureFittings 2022-01-31 09016579 bus:SmallEntities 2022-02-01 2023-01-31 09016579 bus:AuditExemptWithAccountantsReport 2022-02-01 2023-01-31 09016579 bus:SmallCompaniesRegimeForAccounts 2022-02-01 2023-01-31 09016579 bus:PrivateLimitedCompanyLtd 2022-02-01 2023-01-31 09016579 bus:FullAccounts 2022-02-01 2023-01-31 09016579 core:IntangibleAssetsOtherThanGoodwill 2022-02-01 2023-01-31 09016579 core:IntangibleAssetsOtherThanGoodwill 2023-01-31 09016579 core:IntangibleAssetsOtherThanGoodwill 2022-01-31
COMPANY REGISTRATION NUMBER: 09016579
ARB & Grounds Equipment Limited
Filleted Unaudited Financial Statements
31 January 2023
ARB & Grounds Equipment Limited
Statement of Financial Position
31 January 2023
2023
2022
Note
£
£
£
Fixed assets
Intangible assets
5
33,250
38,000
Tangible assets
6
7,594
10,448
--------
--------
40,844
48,448
Current assets
Stocks
262,038
272,219
Debtors
7
84,564
83,683
Cash at bank and in hand
2,900
10,989
---------
---------
349,502
366,891
Creditors: amounts falling due within one year
8
584,566
489,837
---------
---------
Net current liabilities
235,064
122,946
---------
---------
Total assets less current liabilities
( 194,220)
( 74,498)
Creditors: amounts falling due after more than one year
9
58,759
81,936
---------
---------
Net liabilities
( 252,979)
( 156,434)
---------
---------
Capital and reserves
Called up share capital
100
100
Profit and loss account
( 253,079)
( 156,534)
---------
---------
Shareholders deficit
( 252,979)
( 156,434)
---------
---------
These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with Section 1A of FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.
In accordance with section 444 of the Companies Act 2006, the statement of income and retained earnings has not been delivered.
For the year ending 31 January 2023 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
Director's responsibilities:
- The members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476 ;
- The director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements .
ARB & Grounds Equipment Limited
Statement of Financial Position (continued)
31 January 2023
These financial statements were approved by the board of directors and authorised for issue on 30 April 2024 , and are signed on behalf of the board by:
E Davidson
Director
Company registration number: 09016579
ARB & Grounds Equipment Limited
Notes to the Financial Statements
Year ended 31 January 2023
1. General information
The company is a private company limited by shares, registered in England and Wales. The address of the registered office is 1 Cranmer Street, Long Eaton, Nottingham, NG10 1NJ.
2. Statement of compliance
These financial statements have been prepared in compliance with Section 1A of FRS 102, 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland'.
3. Accounting policies
Basis of preparation
The financial statements have been prepared on the historical cost basis. The financial statements are prepared in sterling, which is the functional currency of the entity.
Going concern
During the financial year, the company made losses of £96,545. The total losses to date are £253,079. The company is continuing to trade supported by the aid of the directors and loans. The accounts show a net loss and an insolvent balance sheet. In the opinion of the directors the going concern basis remains appropriate, the company is reliant on third party support and has no reason to believe that this will be withdrawn. Should this cease to be the case, the assets and liabilities will need to be be restated to their recoverable amounts.
Revenue recognition
Turnover is measured at the fair value of the consideration received or receivable for goods supplied and services rendered, net of discounts and Value Added Tax. Revenue from the sale of goods is recognised when the significant risks and rewards of ownership have transferred to the buyer (usually on despatch of the goods); the amount of revenue can be measured reliably; it is probable that the associated economic benefits will flow to the entity; and the costs incurred or to be incurred in respect of the transactions can be measured reliably.
Intangible assets
Intangible assets are initially recorded at cost, and are subsequently stated at cost less any accumulated amortisation and impairment losses. Any intangible assets carried at revalued amounts, are recorded at the fair value at the date of revaluation, as determined by reference to an active market, less any subsequent accumulated amortisation and subsequent accumulated impairment losses. Intangible assets acquired as part of a business combination are only recognised separately from goodwill when they arise from contractual or other legal rights, are separable, the expected future economic benefits are probable and the cost or value can be measured reliably.
Amortisation
Amortisation is calculated so as to write off the cost of an asset, less its estimated residual value, over the useful life of that asset as follows:
Intellectual property
-
10% straight line
If there is an indication that there has been a significant change in amortisation rate, useful life or residual value of an intangible asset, the amortisation is revised prospectively to reflect the new estimates.
Tangible assets
Tangible assets are initially recorded at cost, and subsequently stated at cost less any accumulated depreciation and impairment losses. Any tangible assets carried at revalued amounts are recorded at the fair value at the date of revaluation less any subsequent accumulated depreciation and subsequent accumulated impairment losses. An increase in the carrying amount of an asset as a result of a revaluation, is recognised in other comprehensive income and accumulated in equity, except to the extent it reverses a revaluation decrease of the same asset previously recognised in profit or loss. A decrease in the carrying amount of an asset as a result of revaluation, is recognised in other comprehensive income to the extent of any previously recognised revaluation increase accumulated in equity in respect of that asset. Where a revaluation decrease exceeds the accumulated revaluation gains accumulated in equity in respect of that asset, the excess shall be recognised in profit or loss.
Depreciation
Depreciation is calculated so as to write off the cost or valuation of an asset, less its residual value, over the useful economic life of that asset as follows:
Plant and machinery
-
20% straight line
Fixtures and fittings
-
15% straight line
Motor vehicles
-
25% straight line
Impairment of fixed assets
A review for indicators of impairment is carried out at each reporting date, with the recoverable amount being estimated where such indicators exist. Where the carrying value exceeds the recoverable amount, the asset is impaired accordingly. Prior impairments are also reviewed for possible reversal at each reporting date. For the purposes of impairment testing, when it is not possible to estimate the recoverable amount of an individual asset, an estimate is made of the recoverable amount of the cash-generating unit to which the asset belongs. The cash-generating unit is the smallest identifiable group of assets that includes the asset and generates cash inflows that largely independent of the cash inflows from other assets or groups of assets. For impairment testing of goodwill, the goodwill acquired in a business combination is, from the acquisition date, allocated to each of the cash-generating units that are expected to benefit from the synergies of the combination, irrespective of whether other assets or liabilities of the company are assigned to those units.
Stocks
Stocks are measured at the lower of cost and estimated selling price less costs to complete and sell. Cost includes all costs of purchase, costs of conversion and other costs incurred in bringing the stock to its present location and condition.
Finance leases and hire purchase contracts
Assets held under finance leases and hire purchase contracts are recognised in the statement of financial position as assets and liabilities at the lower of the fair value of the assets and the present value of the minimum lease payments, which is determined at the inception of the lease term. Any initial direct costs of the lease are added to the amount recognised as an asset. Lease payments are apportioned between the finance charges and reduction of the outstanding lease liability using the effective interest method. Finance charges are allocated to each period so as to produce a constant rate of interest on the remaining balance of the liability.
Government grants
Government grants are recognised at the fair value of the asset received or receivable. Grants are not recognised until there is reasonable assurance that the company will comply with the conditions attaching to them and the grants will be received. Government grants are recognised using the accrual model and the performance model. Under the accrual model, government grants relating to revenue are recognised on a systematic basis over the periods in which the company recognises the related costs for which the grant is intended to compensate. Grants that are receivable as compensation for expenses or losses already incurred or for the purpose of giving immediate financial support to the entity with no future related costs are recognised in income in the period in which it becomes receivable. Grants relating to assets are recognised in income on a systematic basis over the expected useful life of the asset. Where part of a grant relating to an asset is deferred, it is recognised as deferred income and not deducted from the carrying amount of the asset. Under the performance model, where the grant does not impose specified future performance-related conditions on the recipient, it is recognised in income when the grant proceeds are received or receivable. Where the grant does impose specified future performance-related conditions on the recipient, it is recognised in income only when the performance-related conditions have been met. Where grants received are prior to satisfying the revenue recognition criteria, they are recognised as a liability.
Financial instruments
A financial asset or a financial liability is recognised only when the entity becomes a party to the contractual provisions of the instrument. Basic financial instruments are initially recognised at the transaction price, unless the arrangement constitutes a financing transaction, where it is recognised at the present value of the future payments discounted at a market rate of interest for a similar debt instrument. Debt instruments are subsequently measured at amortised cost.
Defined contribution plans
Contributions to defined contribution plans are recognised as an expense in the period in which the related service is provided. Prepaid contributions are recognised as an asset to the extent that the prepayment will lead to a reduction in future payments or a cash refund.
4. Employee numbers
The average number of persons employed by the company during the year amounted to 6 (2022: 8 ).
5. Intangible assets
Intellectual Property
£
Cost
At 1 February 2022 and 31 January 2023
47,500
--------
Amortisation
At 1 February 2022
9,500
Charge for the year
4,750
--------
At 31 January 2023
14,250
--------
Carrying amount
At 31 January 2023
33,250
--------
At 31 January 2022
38,000
--------
6. Tangible assets
Plant and machinery
Fixtures and fittings
Motor vehicles
Total
£
£
£
£
Cost
At 1 February 2022 and 31 January 2023
39,679
8,885
101,516
150,080
--------
-------
---------
---------
Depreciation
At 1 February 2022
32,045
6,071
101,516
139,632
Charge for the year
1,744
1,110
2,854
--------
-------
---------
---------
At 31 January 2023
33,789
7,181
101,516
142,486
--------
-------
---------
---------
Carrying amount
At 31 January 2023
5,890
1,704
7,594
--------
-------
---------
---------
At 31 January 2022
7,634
2,814
10,448
--------
-------
---------
---------
7. Debtors
2023
2022
£
£
Trade debtors
5,913
5,243
Other debtors
78,651
78,440
--------
--------
84,564
83,683
--------
--------
8. Creditors: amounts falling due within one year
2023
2022
£
£
Bank loans and overdrafts
25,013
55,027
Trade creditors
167,115
164,894
Social security and other taxes
178,962
149,716
Other creditors
213,476
120,200
---------
---------
584,566
489,837
---------
---------
9. Creditors: amounts falling due after more than one year
2023
2022
£
£
Bank loans and overdrafts
58,759
67,959
Other creditors
13,977
--------
--------
58,759
81,936
--------
--------
10. Director's advances, credits and guarantees
At the year end the director's account balance was nil (2022: £38,215 owed to the director)