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Company No: 14302082 (England and Wales)

ARC CLUB LIMITED

Unaudited Financial Statements
For the financial period from 17 August 2022 to 31 July 2023
Pages for filing with the registrar

ARC CLUB LIMITED

Unaudited Financial Statements

For the financial period from 17 August 2022 to 31 July 2023

Contents

ARC CLUB LIMITED

COMPANY INFORMATION

For the financial period from 17 August 2022 to 31 July 2023
ARC CLUB LIMITED

COMPANY INFORMATION (continued)

For the financial period from 17 August 2022 to 31 July 2023
DIRECTORS Josie Leah Rennie Baum
Hannah Louise Philp
REGISTERED OFFICE 1 Poultry C/O Praxis
London
EC2R 8EJ
England
United Kingdom
COMPANY NUMBER 14302082 (England and Wales)
CHARTERED ACCOUNTANTS Praxis
1 Poultry
London
EC2R 8EJ
United Kingdom
ARC CLUB LIMITED

BALANCE SHEET

As at 31 July 2023
ARC CLUB LIMITED

BALANCE SHEET (continued)

As at 31 July 2023
Note 31.07.2023
£
Fixed assets
Intangible assets 3 16,481
Tangible assets 4 1,693
Investments 5 4
18,178
Current assets
Debtors 6 61,823
61,823
Creditors: amounts falling due within one year 7 ( 16,278)
Net current assets 45,545
Total assets less current liabilities 63,723
Net assets 63,723
Capital and reserves
Called-up share capital 8 2
Share premium account 241,680
Profit and loss account ( 177,959 )
Total shareholders' funds 63,723

For the financial period ending 31 July 2023 the Company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Directors' responsibilities:

The financial statements of Arc Club Limited (registered number: 14302082) were approved and authorised for issue by the Board of Directors on 26 July 2024. They were signed on its behalf by:

Hannah Louise Philp
Director
ARC CLUB LIMITED

NOTES TO THE FINANCIAL STATEMENTS

For the financial period from 17 August 2022 to 31 July 2023
ARC CLUB LIMITED

NOTES TO THE FINANCIAL STATEMENTS

For the financial period from 17 August 2022 to 31 July 2023
1. Accounting policies

The principal accounting policies are summarised below. They have all been applied consistently throughout the financial period, unless otherwise stated.

General information and basis of accounting

Arc Club Limited (the Company) is a private company, limited by shares, incorporated in the United Kingdom under the Companies Act 2006 and is registered in England and Wales. The address of the Company's registered office is 1 Poultry C/O Praxis, London, EC2R 8EJ, England, United Kingdom.

The financial statements have been prepared under the historical cost convention, modified to include certain items at fair value, and in accordance with Section 1A of Financial Reporting Standard 102 (FRS 102) ‘The Financial Reporting Standard applicable in the UK and Republic of Ireland’ issued by the Financial Reporting Council and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime.

The financial statements are presented in pounds sterling which is the functional currency of the Company and rounded to the nearest £.

Going concern

The directors have assessed the Balance Sheet and likely future cash flows at the date of approving these financial statements. The directors have a reasonable expectation that the Company has adequate resources to continue in operational existence and to meet its financial obligations as they fall due for at least 12 months from the date of signing these financial statements. Accordingly, they continue to adopt the going concern basis in preparing the financial statements.

Group accounts exemption

Group accounts exemption s399
The Company has taken advantage of the exemption under section 399 of the Companies Act 2006 not to prepare consolidated accounts, on the basis that the group of which this is the parent qualifies as a small group. The financial statements present information about the Company as an individual entity and not about its group.

Turnover

Turnover is recognised at the fair value of the consideration received or receivable for goods and services provided in the normal course of business, and is shown net of VAT and other sales related taxes. The fair value of consideration takes into account trade discounts, settlement discounts and volume rebates.

Turnover is recognised when the significant risks and rewards are considered to have been transferred to the customer.

Employee benefits

Defined contribution schemes
The Company operates a defined contribution scheme. The amount charged to the Statement of Income and Retained Earnings in respect of pension costs and other post-retirement benefits is the contributions payable in the financial period. Differences between contributions payable in the financial period and contributions actually paid are included as either accruals or prepayments in the Balance Sheet.

Taxation

Current tax
Current tax is provided at amounts expected to be paid (or recoverable) using the tax rates and laws that have been enacted or substantively enacted at the Balance Sheet date.

Intangible assets

Intangible assets are stated at cost or valuation, net of amortisation and any provision for impairment. Amortisation is provided on all intangible assets at rates to write off the cost or valuation of each asset over its expected useful life as follows:

Other intangible assets 5 years straight line
Other intangible assets

Intangible assets are initially recognised at cost. After recognition, under the cost model, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses.

All intangible assets are considered to have a finite useful life. If a reliable estimate of the useful life cannot be made, the useful life shall not exceed ten years.

Tangible fixed assets

Tangible fixed assets are stated at cost or valuation, net of depreciation and any provision for impairment. Depreciation is provided on all tangible fixed assets, other than investment property and freehold land, at rates calculated to write off the cost or valuation, less estimated residual value, of each asset on a straight-line or reducing balance basis over its expected useful life, as follows:

Plant and machinery etc. 3 years straight line

Residual value represents the estimated amount which would currently be obtained from disposal of an asset, after deducting estimated costs of disposal, if the asset were already of the age and in the condition expected at the end of its useful life.

The gain or loss arising on the disposal of an asset is determined as the difference between the sale proceeds and the carrying value of the asset, and is credited or charged to profit or loss.

Leases

The Company as lessee
Assets held under finance leases, hire purchase contracts and other similar arrangements, which confer rights and obligations similar to those attached to owned assets, are capitalised as tangible fixed assets at the fair value of the leased asset (or, if lower, the present value of the minimum lease payments as determined at the inception of the lease) and are depreciated over the shorter of the lease terms and their useful lives. The capital elements of future lease obligations are recorded as liabilities, while the interest elements are charged to the Statement of Income and Retained Earnings over the period of the leases to produce a constant periodic rate of interest on the remaining balance of the liability.

Rentals under operating leases are charged on a straight-line basis over the lease term, even if the payments are not made on such a basis. Benefits received and receivable as an incentive to sign an operating lease are similarly spread on a straight-line basis over the lease term.

Impairment of assets

Assets, other than those measured at fair value, are assessed for indicators of impairment at each Balance Sheet date. If there is objective evidence of impairment, an impairment loss is recognised in the Statement of Income and Retained Earnings as described below.

Trade and other debtors

Trade and other debtors are initially recognised at fair value and thereafter stated at amortised cost using the effective interest method less impairment losses for bad and doubtful debts, except where the effect of discounting would be immaterial. In such cases the receivables are stated at cost less impairment losses for bad and doubtful debts.

Cash and cash equivalents

Cash and cash equivalents are basic financial assets and include cash in hand, deposits held at call with banks, other short-term liquid investments with original maturities of three months or less, and bank overdrafts. Bank overdrafts are shown within borrowings in creditors: amounts falling due within one year.

Trade and other creditors

Trade and other creditors are initially recognised at fair value and thereafter stated at amortised cost using the effective interest rate method, unless the effect of discounting would be immaterial, in which case they are stated at cost.

Ordinary share capital

The ordinary share capital of the Company is presented as equity.

2. Employees

Period from
17.08.2022 to
31.07.2023
Number
Monthly average number of persons employed by the Company during the period, including directors 2

3. Intangible assets

Other intangible assets Total
£ £
Cost
At 17 August 2022 0 0
Additions 19,546 19,546
At 31 July 2023 19,546 19,546
Accumulated amortisation
At 17 August 2022 0 0
Charge for the financial period 3,065 3,065
At 31 July 2023 3,065 3,065
Net book value
At 31 July 2023 16,481 16,481

4. Tangible assets

Plant and machinery etc. Total
£ £
Cost
At 17 August 2022 0 0
Additions 2,223 2,223
At 31 July 2023 2,223 2,223
Accumulated depreciation
At 17 August 2022 0 0
Charge for the financial period 530 530
At 31 July 2023 530 530
Net book value
At 31 July 2023 1,693 1,693

5. Fixed asset investments

Investments in subsidiaries

31.07.2023
£
Cost
At 17 August 2022 0
Additions 4
At 31 July 2023 4
Carrying value at 31 July 2023 4

6. Debtors

31.07.2023
£
Amounts owed by Group undertakings 60,584
Other debtors 1,239
61,823

Amounts owed by Group undertakings are repayable on demand and do not bear interest.

7. Creditors: amounts falling due within one year

31.07.2023
£
Trade creditors 7,866
Other taxation and social security 7,442
Other creditors 970
16,278

There are no amounts included above in respect of which any security has been given by the small entity.

Amounts owed to Group undertakings are repayable on demand and do not bear interest.

8. Called-up share capital

31.07.2023
£
Allotted, called-up and fully-paid
1,947,666 Ordinary shares of £ 0.000001 each 2

9. Financial commitments

Pensions

The Company operates a defined contribution pension scheme for the directors and employees. The assets of the scheme are held separately from those of the Company in an independently administered fund.

31.07.2023
£
Unpaid contributions due to the fund (inc. in other creditors) 967

10. Events after the Balance Sheet date

There have been no events after the balance sheet date affecting the Company since the financial period.