Company Registration No. 11319179 (England and Wales)
ARK SWEETS LIMITED
Unaudited accounts
for the year ended 30 April 2024
ARK SWEETS LIMITED
Statement of financial position
as at 30 April 2024
Tangible assets
1,273
1,697
Cash at bank and in hand
530,866
493,860
Creditors: amounts falling due within one year
(241,390)
(314,395)
Net current assets
679,704
552,842
Total assets less current liabilities
680,977
554,539
Provisions for liabilities
Net assets
680,735
554,391
Called up share capital
100
100
Profit and loss account
680,635
554,291
Shareholders' funds
680,735
554,391
For the year ending 30 April 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies. The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
The members have agreed to the preparation of abridged accounts for the year in accordance with Section 444(2A).
These accounts have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with the provisions of FRS 102 Section 1A - Small Entities. The profit and loss account has not been delivered to the Registrar of Companies.
The financial statements were approved by the Board and authorised for issue on 15 May 2024 and were signed on its behalf by
Sadaqat Rahman
Director
Company Registration No. 11319179
ARK SWEETS LIMITED
Notes to the Accounts
for the year ended 30 April 2024
ARK SWEETS LIMITED is a private company, limited by shares, registered in England and Wales, registration number 11319179. The registered office is UNIT 1 WHETLEY MILLS, THORNTON ROAD, BRADFORD, BD8 8LQ, UNITED KINGDOM.
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Compliance with accounting standards
The accounts have been prepared in accordance with the provisions of FRS 102 Section 1A Small Entities. There were no material departures from that standard.
The principal accounting policies adopted in the preparation of the financial statements are set out below and have remained unchanged from the previous year, and also have been consistently applied within the same accounts.
The accounts have been prepared under the historical cost convention as modified by the revaluation of certain fixed assets.
The accounts are presented in £ sterling.
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. Turnover from the sale of goods is recognised when goods have been delivered to customers such that risks and rewards of ownership have transferred to them. Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs.
Tangible fixed assets and depreciation
Tangible assets are included at cost less depreciation and impairment. Depreciation has been provided at the following rates in order to write off the assets over their estimated useful lives:
Plant & machinery
25% on reducing balance
Motor vehicles
25% on reducing balance
Computer equipment
25% on reducing balance
Inventories have been valued at the lower of cost and estimated selling price less costs to complete and sell. In respect of work in progress and finished goods, cost includes a relevant proportion of overheads according to the stage of manufacturing/completion.
Deferred tax arises as a result of including items of income and expenditure in taxation computations in periods different from those in which they are included in the company's accounts. Deferred tax is provided in full on timing differences which result in an obligation to pay more (or less) tax at a future date, at the average tax rates that are expected to apply when the timing differences reverse, based on current tax rates and laws.
Deferred tax assets and liabilities are not discounted.
The company operates a defined contribution scheme for the benefit of its employees. Contributions payable are recognised in the profit and loss account when due.
ARK SWEETS LIMITED
Notes to the Accounts
for the year ended 30 April 2024
The director has carried out a detailed review of the company's resources and projected income streams. He is confident that the company has sufficient cash flows to meet its liabilities as they fall due for at least one year from the date of approval of the financial statements. Therefore, the company continues to adopt the going concern basis in preparing the financial statements.
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Tangible fixed assets
Total
5
Deferred taxation
2024
2023
Accelerated capital allowances
242
148
Provision at start of year
148
217
Charged/(credited) to the profit and loss account
94
(69)
Provision at end of year
242
148
Allotted, called up and fully paid:
100 Ordinary shares of £1 each
100
100
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Transactions with related parties
During the year the company paid dividends of £30,000 (2023 - £25,000) to Mr S Rahman who is the director and shareholder of the company. The company also paid dividends of £30,000 (2023 - £25,000) to Mrs H Khan who is a shareholder of the company.
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Average number of employees
During the year the average number of employees was 18 (2023: 14).