Caseware UK (AP4) 2023.0.135 2023.0.135 2023-12-312023-12-3125false2023-01-0124truefalsefalse 05571879 2023-01-01 2023-12-31 05571879 2022-01-01 2022-12-31 05571879 2023-12-31 05571879 2022-12-31 05571879 c:CompanySecretary1 2023-01-01 2023-12-31 05571879 c:Director1 2023-01-01 2023-12-31 05571879 c:Director4 2023-01-01 2023-12-31 05571879 c:RegisteredOffice 2023-01-01 2023-12-31 05571879 d:PlantMachinery 2023-01-01 2023-12-31 05571879 d:PlantMachinery 2023-12-31 05571879 d:PlantMachinery 2022-12-31 05571879 d:PlantMachinery d:OwnedOrFreeholdAssets 2023-01-01 2023-12-31 05571879 d:MotorVehicles 2023-01-01 2023-12-31 05571879 d:MotorVehicles 2023-12-31 05571879 d:MotorVehicles 2022-12-31 05571879 d:MotorVehicles d:OwnedOrFreeholdAssets 2023-01-01 2023-12-31 05571879 d:FurnitureFittings 2023-01-01 2023-12-31 05571879 d:FurnitureFittings 2023-12-31 05571879 d:FurnitureFittings 2022-12-31 05571879 d:FurnitureFittings d:OwnedOrFreeholdAssets 2023-01-01 2023-12-31 05571879 d:OwnedOrFreeholdAssets 2023-01-01 2023-12-31 05571879 d:ComputerSoftware 2023-12-31 05571879 d:ComputerSoftware 2022-12-31 05571879 d:CurrentFinancialInstruments 2023-12-31 05571879 d:CurrentFinancialInstruments 2022-12-31 05571879 d:Non-currentFinancialInstruments 2023-12-31 05571879 d:Non-currentFinancialInstruments 2022-12-31 05571879 d:CurrentFinancialInstruments d:WithinOneYear 2023-12-31 05571879 d:CurrentFinancialInstruments d:WithinOneYear 2022-12-31 05571879 d:Non-currentFinancialInstruments d:AfterOneYear 2023-12-31 05571879 d:Non-currentFinancialInstruments d:AfterOneYear 2022-12-31 05571879 d:ShareCapital 2023-12-31 05571879 d:ShareCapital 2022-12-31 05571879 d:RetainedEarningsAccumulatedLosses 2023-01-01 2023-12-31 05571879 d:RetainedEarningsAccumulatedLosses 2023-12-31 05571879 d:RetainedEarningsAccumulatedLosses 2022-01-01 2022-12-31 05571879 d:RetainedEarningsAccumulatedLosses 2022-12-31 05571879 d:RetainedEarningsAccumulatedLosses 2022-01-01 05571879 c:FRS102 2023-01-01 2023-12-31 05571879 c:Audited 2023-01-01 2023-12-31 05571879 c:FullAccounts 2023-01-01 2023-12-31 05571879 c:PrivateLimitedCompanyLtd 2023-01-01 2023-12-31 05571879 d:WithinOneYear 2023-12-31 05571879 d:WithinOneYear 2022-12-31 05571879 d:BetweenOneFiveYears 2023-12-31 05571879 d:BetweenOneFiveYears 2022-12-31 05571879 d:PlantMachinery d:LeasedAssetsHeldAsLessee 2023-12-31 05571879 d:PlantMachinery d:LeasedAssetsHeldAsLessee 2022-12-31 05571879 d:MotorVehicles d:LeasedAssetsHeldAsLessee 2023-12-31 05571879 d:MotorVehicles d:LeasedAssetsHeldAsLessee 2022-12-31 05571879 d:LeasedAssetsHeldAsLessee 2023-12-31 05571879 d:LeasedAssetsHeldAsLessee 2022-12-31 05571879 e:PoundSterling 2023-01-01 2023-12-31 iso4217:GBP xbrli:pure

Registered number: 05571879










ARROWCRUIT LIMITED










DIRECTORS' REPORT AND FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 DECEMBER 2023

 
ARROWCRUIT LIMITED
 
 
COMPANY INFORMATION


DIRECTORS
Mrs C A Hutchinson 
Mr R O Hutchinson 




COMPANY SECRETARY
Mrs C A Hutchinson



REGISTERED NUMBER
05571879



REGISTERED OFFICE
White House Farm
Sandy Lane West

Billingham

TS22 5NB




INDEPENDENT AUDITORS
Waltons Business Advisers Limited
Chartered Accountants & Statutory Auditors

Maritime House

Harbour Walk

The Marina

Hartlepool

TS24 0UX





 
ARROWCRUIT LIMITED
 

CONTENTS



Page
Directors' Report
1 - 2
Independent Auditors' Report
3 - 6
Statement of Income and Retained Earnings
7
Balance Sheet
8 - 9
Notes to the Financial Statements
10 - 16


 
ARROWCRUIT LIMITED
 
 
 
DIRECTORS' REPORT
FOR THE YEAR ENDED 31 DECEMBER 2023

The directors present their report and the financial statements for the year ended 31 December 2023.

DIRECTORS' RESPONSIBILITIES STATEMENT

The directors are responsible for preparing the Directors' Report and the financial statements in accordance with applicable law and regulations.
 
Company law requires the directors to prepare financial statements for each financial year. Under that law the directors have elected to prepare the financial statements in accordance with applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice), including Financial Reporting Standard 102 ‘The Financial Reporting Standard applicable in the UK and Republic of Ireland'. Under company law the directors must not approve the financial statements unless they are satisfied that they give a true and fair view of the state of affairs of the company and of the profit or loss of the company for that period.

 In preparing these financial statements, the directors are required to:


select suitable accounting policies for the company's financial statements and then apply them consistently;

make judgements and accounting estimates that are reasonable and prudent;

prepare the financial statements on the going concern basis unless it is inappropriate to presume that the company will continue in business.

The directors are responsible for keeping adequate accounting records that are sufficient to show and explain the company's transactions and disclose with reasonable accuracy at any time the financial position of the company and to enable them to ensure that the financial statements comply with the Companies Act 2006They are also responsible for safeguarding the assets of the company and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.

PRINCIPAL ACTIVITY

The company's principal activity during the year was to act as a buying agent for the provision of labour and hire of equipment to its related companies.

DIRECTORS

The directors who served during the year were:

Mrs C A Hutchinson 
Mr R O Hutchinson 

DISCLOSURE OF INFORMATION TO AUDITORS

Each of the persons who are directors at the time when this Directors' Report is approved has confirmed that:
 
so far as the director is aware, there is no relevant audit information of which the company's auditors are unaware, and

the director has taken all the steps that ought to have been taken as a director in order to be aware of any relevant audit information and to establish that the company's auditors are aware of that information.

Page 1

 
ARROWCRUIT LIMITED
 
 
 
DIRECTORS' REPORT (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2023


AUDITORS

The auditorsWaltons Business Advisers Limitedwill be proposed for reappointment in accordance with section 485 of the Companies Act 2006.

SMALL COMPANIES NOTE

In preparing this report, the directors have taken advantage of the small companies exemptions provided by section 415A of the Companies Act 2006.

This report was approved by the board and signed on its behalf.
 




Mr R O Hutchinson
Director

Date: 15 August 2024

Page 2

 
ARROWCRUIT LIMITED
 
 
 
INDEPENDENT AUDITORS' REPORT TO THE SHAREHOLDERS, AS A BODY, OF ARROWCRUIT LIMITED
 

UNQUALIFIED OPINION


We have audited the financial statements of Arrowcruit Limited (the 'company') for the year ended 31 December 2023, which comprise the Statement of Income and Retained Earnings, the Balance Sheet and the related notes, including a summary of significant accounting policiesThe financial reporting framework that has been applied in their preparation is applicable law and United Kingdom Accounting Standards, including Financial Reporting Standard 102 ‘The Financial Reporting Standard applicable in the UK and Republic of Ireland' (United Kingdom Generally Accepted Accounting Practice).


In our opinion the financial statements:


give a true and fair view of the state of the company's affairs as at 31 December 2023 and of its profit for the year then ended;
have been properly prepared in accordance with United Kingdom Generally Accepted Accounting Practice; and
have been prepared in accordance with the requirements of the Companies Act 2006.


BASIS FOR OPINION


We conducted our audit in accordance with International Standards on Auditing (UK) (ISAs (UK)) and applicable law. Our responsibilities under those standards are further described in the Auditors' responsibilities for the audit of the financial statements section of our report. We are independent of the company in accordance with the ethical requirements that are relevant to our audit of the financial statements in the United Kingdom, including the Financial Reporting Council's Ethical Standard and we have fulfilled our other ethical responsibilities in accordance with these requirements. We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our opinion.


EMPHASIS OF MATTER


We draw attention to note 3 in the financial statements, which includes a balance of £231,289 due from a group company. The director considers these amounts to be recoverable but there is no formal evidence to support this assumption. Our opinion is not modified in respect of this matter.


CONCLUSIONS RELATING TO GOING CONCERN


In auditing the financial statements, we have concluded that the directors' use of the going concern basis of accounting in the preparation of the financial statements is appropriate.


Based on the work we have performed, we have not identified any material uncertainties relating to events or conditions that, individually or collectively, may cast significant doubt on the company's ability to continue as a going concern for a period of at least twelve months from when the financial statements are authorised for issue.


Our responsibilities and the responsibilities of the directors with respect to going concern are described in the relevant sections of this report.


Page 3

 
ARROWCRUIT LIMITED
 
 
 
INDEPENDENT AUDITORS' REPORT TO THE SHAREHOLDERS, AS A BODY, OF ARROWCRUIT LIMITED (CONTINUED)


OTHER INFORMATION


The other information comprises the information included in the Annual Report other than the financial statements and our Auditors' Report thereon. The directors are responsible for the other information contained within the Annual ReportOur opinion on the financial statements does not cover the other information and, except to the extent otherwise explicitly stated in our report, we do not express any form of assurance conclusion thereon. Our responsibility is to read the other information and, in doing so, consider whether the other information is materially inconsistent with the financial statements or our knowledge obtained in the course of the audit, or otherwise appears to be materially misstated. If we identify such material inconsistencies or apparent material misstatements, we are required to determine whether this gives rise to a material misstatement in the financial statements themselves. If, based on the work we have performed, we conclude that there is a material misstatement of this other information, we are required to report that fact.


We have nothing to report in this regard.


OPINION ON OTHER MATTERS PRESCRIBED BY THE COMPANIES ACT 2006
 

In our opinion, based on the work undertaken in the course of the audit:


the information given in the Directors' Report for the financial year for which the financial statements are prepared is consistent with the financial statements; and
the Directors' Report has been prepared in accordance with applicable legal requirements.


MATTERS ON WHICH WE ARE REQUIRED TO REPORT BY EXCEPTION
 

In the light of the knowledge and understanding of the company and its environment obtained in the course of the audit, we have not identified material misstatements in the Directors' Report.


We have nothing to report in respect of the following matters in relation to which the Companies Act 2006 requires us to report to you if, in our opinion:


adequate accounting records have not been kept, or returns adequate for our audit have not been received from branches not visited by us; or
the financial statements are not in agreement with the accounting records and returns; or
certain disclosures of directors' remuneration specified by law are not made; or
we have not received all the information and explanations we require for our audit; or
the directors were not entitled to prepare the financial statements in accordance with the small companies regime and take advantage of the small companies' exemptions in preparing the Directors' Report and from the requirement to prepare a Strategic Report.


Page 4

 
ARROWCRUIT LIMITED
 
 
 
INDEPENDENT AUDITORS' REPORT TO THE SHAREHOLDERS, AS A BODY, OF ARROWCRUIT LIMITED (CONTINUED)


RESPONSIBILITIES OF DIRECTORS
 

As explained more fully in the Directors' Responsibilities Statement set out on page 1, the directors are responsible for the preparation of the financial statements and for being satisfied that they give a true and fair view, and for such internal control as the directors determine is necessary to enable the preparation of financial statements that are free from material misstatement, whether due to fraud or error.


In preparing the financial statements, the directors are responsible for assessing the company's ability to continue as a going concern, disclosing, as applicable, matters related to going concern and using the going concern basis of accounting unless the directors either intend to liquidate the company or to cease operations, or have no realistic alternative but to do so.


AUDITORS' RESPONSIBILITIES FOR THE AUDIT OF THE FINANCIAL STATEMENTS
 

Our objectives are to obtain reasonable assurance about whether the financial statements as a whole are free from material misstatement, whether due to fraud or error, and to issue an Auditors' Report that includes our opinion. Reasonable assurance is a high level of assurance, but is not a guarantee that an audit conducted in accordance with ISAs (UK) will always detect a material misstatement when it exists. Misstatements can arise from fraud or error and are considered material if, individually or in the aggregate, they could reasonably be expected to influence the economic decisions of users taken on the basis of these financial statements.


Irregularities, including fraud, are instances of non-compliance with laws and regulations. We design procedures in line with our responsibilities, outlined above, to detect material misstatements in respect of irregularities, including fraud. The extent to which our procedures are capable of detecting irregularities, including fraud is detailed below:

We gained an understanding of the legal and regulatory framework applicable to the company and the area in which it operates, and considered the risk of acts by the company that were contrary to applicable laws and regulations, including fraud. We designed audit procedures to respond to the risk, recognising that the risk of not detecting a material mistatement due to fraud is higher than the risk of not detecting one resulting from error, as fraud may involve deliberate concealment by, for example, forgery or intentional misrepresentations, or through collusion.
We identified that the greatest potential for fraud in the following areas: recognition and completeness of income and posting of unusual journals. We discussed these risks with management and designed audit procedures to  test the recognition and completeness of revenue. We reviewed journals posted around the year end to look for potential "window dressing".


A further description of our responsibilities for the audit of the financial statements is located on the Financial Reporting Council's website at: www.frc.org.uk/auditorsresponsibilities. This description forms part of our Auditors' Report.


Page 5

 
ARROWCRUIT LIMITED
 
 
 
INDEPENDENT AUDITORS' REPORT TO THE SHAREHOLDERS, AS A BODY, OF ARROWCRUIT LIMITED (CONTINUED)


USE OF OUR REPORT
 

This report is made solely to the company's shareholders, as a body, in accordance with Chapter 3 of Part 16 of the Companies Act 2006Our audit work has been undertaken so that we might state to the company's shareholders those matters we are required to state to them in an Auditors' Report and for no other purpose. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than the company and the company's shareholders, as a body, for our audit work, for this report, or for the opinions we have formed.





Paul Harrison MSc, BSc, FCA (Senior Statutory Auditor)
  
for and on behalf of
Waltons Business Advisers Limited
 
Chartered Accountants
Statutory Auditors
  
Maritime House
Harbour Walk
The Marina
Hartlepool
TS24 0UX

21 August 2024
Page 6

 
ARROWCRUIT LIMITED
 
 
STATEMENT OF INCOME AND RETAINED EARNINGS
FOR THE YEAR ENDED 31 DECEMBER 2023

2023
2022
£
£


Turnover
3,715,798
3,565,671

Cost of sales
(1,454,405)
(1,652,011)

GROSS PROFIT
2,261,393
1,913,660

Administrative expenses
(1,880,379)
(1,729,219)

Other operating income
8,298
25,555

OPERATING PROFIT
389,312
209,996

Interest payable and similar expenses
(230,082)
(162,747)

PROFIT BEFORE TAX
159,230
47,249

Tax on profit
(94,156)
19,209

PROFIT AFTER TAX
65,074
66,458



Retained earnings at the beginning of the year
1,117,041
1,050,583

Profit for the year
65,074
66,458

RETAINED EARNINGS AT THE END OF THE YEAR
1,182,115
1,117,041
There were no recognised gains and losses for 2023 or 2022 other than those included in the statement of income and retained earnings.

The notes on pages 10 to 16 form part of these financial statements.

Page 7

 
ARROWCRUIT LIMITED
REGISTERED NUMBER: 05571879

BALANCE SHEET
AS AT 31 DECEMBER 2023

2023
2022
Note
£
£

FIXED ASSETS
  

Intangible assets
 6 
23,545
23,545

Tangible assets
 7 
9,366,585
8,840,688

  
9,390,130
8,864,233

CURRENT ASSETS
  

Debtors: amounts falling due within one year
 8 
1,812,518
625,624

Cash at bank and in hand
 9 
175,030
10,087

  
1,987,548
635,711

Creditors: amounts falling due within one year
 10 
(6,402,809)
(4,515,044)

NET CURRENT LIABILITIES
  
 
 
(4,415,261)
 
 
(3,879,333)

TOTAL ASSETS LESS CURRENT LIABILITIES
  
4,974,869
4,984,900

Creditors: amounts falling due after more than one year
 11 
(2,893,885)
(3,228,539)

PROVISIONS FOR LIABILITIES
  

Deferred tax
  
(898,868)
(639,319)

NET ASSETS
  
1,182,116
1,117,042


CAPITAL AND RESERVES
  

Called up share capital 
  
1
1

Profit and loss account
  
1,182,115
1,117,041

  
1,182,116
1,117,042


Page 8

 
ARROWCRUIT LIMITED
REGISTERED NUMBER: 05571879
    
BALANCE SHEET (CONTINUED)
AS AT 31 DECEMBER 2023

The financial statements have been prepared 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 financial statements were approved and authorised for issue by the board and were signed on its behalf by: 




Mr R O Hutchinson
Director
Date: 15 August 2024

The notes on pages 10 to 16 form part of these financial statements.

Page 9

 
ARROWCRUIT LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023

1.


GENERAL INFORMATION

The company is a private company, limited by shares, incorporated in England and Wales and its registered office is:-
White House Farm
Sandy Lane West
Billingham
Stockton on Tees
TS22 5NB
The immediate and ultimate parent company is Arrowcruit Holdings Limited.

2.ACCOUNTING POLICIES

 
2.1

Basis of preparation of financial statements

The financial statements have been prepared under the historical cost convention unless otherwise specified within these accounting policies and in accordance with FRS 102 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland' and the requirements of the Companies Act 2006. The disclosure requirements of Section 1A of FRS 102 have been applied other than where additional disclosure is required to show a true and fair view.

The following principal accounting policies have been applied:

 
2.2

Going concern

The directors, having made due and careful enquiry, are of the opinion that the company, with the continued trade of Arrowbuild & Civil Engineering Limited and other group and related party companies, who it relies on for the majority of its sales and income, has adequate working capital to execute its operations over the next 12 months. The directors, therefore, have made an informed judgement, at the time of approving the financial statements, that there is reasonable expectation that the company has adequate resources to continue in operational existence for the foreseeable future. As a result the directors have continued to adopt the going concern basis of accounting in preparing the annual financial statements.

  
2.3

Revenue

Revenue in respect of vehicle hire and the supply of labour is recognised to the extent that it is probable that the economic benefits will flow to the company and the revenue can be reliably measured. Revenue is measured as the fair value of the consideration received or receivable, excluding discounts and value added tax. The following criteria must also be met before revenue is recognised:
-  the amount of revenue can be measured reliably;
-   it is probable that the company will receive the consideration due under the contract;
-   the stage of completion of the contract at the end of the reporting period can be measured     reliably; 
-   and the costs incurred and the costs to complete the contract can be measured reliably.

Page 10

 
ARROWCRUIT LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023

2.ACCOUNTING POLICIES (CONTINUED)

 
2.4

Tangible fixed assets

Tangible fixed assets under the cost model are stated at historical cost less accumulated depreciation and any accumulated impairment losses. Historical cost includes expenditure that is directly attributable to bringing the asset to the location and condition necessary for it to be capable of operating in the manner intended by management.

Depreciation is charged so as to allocate the cost of assets less their residual value over their estimated useful lives.

Depreciation is provided on the following basis:

Plant & machinery
-
5-7 years straight line
Motor vehicles
-
3-7 years straight line
Fixtures & fittings
-
3-5 years straight line

  
2.5

Intangible assets

Computer software will be depreciated over a period of 5 years and will commence when the software is used.

  
2.6

Financial instruments

The company only enters into basic financial instrument transactions that result in the recognition of financial assets and liabilities like trade and other debtors and creditors, loans from banks and other third parties and loans to related parties. 


3.



JUDGEMENTS IN APPLYING ACCOUNTING POLICIES AND KEY SOURCES OF ESTIMATION UNCERTAINTY

The preparation of the financial statements requires management to make judgements, estimates and assumptions that affect the amounts reported. These estimates and judgements are continually reviewed and are based on experience and other factors, including expectations of future events that are believed to be reasonable under the circumstances.
Significant judgements
The judgements and key sources of estimation uncertainty that management have made in the process of applying the entity’s accounting policies and that have the most significant effect on the amounts recognised in the financial statements are as follows:
Related party and group company debtors
At the reporting date there was £231,289 due from a group company.The directors consider this debt to be recoverable, but this is dependent upon the profitable execution of new orders now in the pipeline.

Page 11

 
ARROWCRUIT LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023

4.


AUDITORS' REMUNERATION

During the year, the company obtained the following services from the company's auditors:


2023
2022
£
£

Fees payable to the company's auditors for the audit of the company's financial statements
5,775
5,760

The company has taken advantage of the exemption not to disclose amounts paid for non-audit services as these are disclosed in the consolidated accounts of the parent company.


5.


EMPLOYEES

The average monthly number of employees, including directors, during the year was 24 (2022 - 25).


6.


INTANGIBLE ASSETS




Computer software

£



Cost


At 1 January 2023
23,545



At 31 December 2023

23,545






Net book value



At 31 December 2023
23,545



At 31 December 2022
23,545



Page 12

 
ARROWCRUIT LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023

7.


TANGIBLE FIXED ASSETS





Plant & machinery
Motor vehicles
Fixtures & fittings
Total

£
£
£
£



Cost 


At 1 January 2023
9,013,380
3,742,776
49,777
12,805,933


Additions
2,072,950
699,686
-
2,772,636


Disposals
(850,738)
(316,149)
-
(1,166,887)



At 31 December 2023

10,235,592
4,126,313
49,777
14,411,682



Depreciation


At 1 January 2023
2,751,839
1,163,658
49,748
3,965,245


Charge for the year on owned assets
1,090,416
414,136
29
1,504,581


Disposals
(344,103)
(80,626)
-
(424,729)



At 31 December 2023

3,498,152
1,497,168
49,777
5,045,097



Net book value



At 31 December 2023
6,737,440
2,629,145
-
9,366,585



At 31 December 2022
6,261,541
2,579,118
29
8,840,688

The net book value of assets held under finance leases or hire purchase contracts, included above, are as follows:


2023
2022
£
£



Plant and machinery
5,190,058
4,541,119

Motor vehicles
2,226,833
2,417,680

7,416,891
6,958,799

Page 13

 
ARROWCRUIT LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023

8.


DEBTORS

2023
2022
£
£


Trade debtors
-
93,450

Amounts owed by group undertakings
1,528,979
481,208

Other debtors
283,539
50,966

1,812,518
625,624



9.


CASH AND CASH EQUIVALENTS

2023
2022
£
£

Cash at bank and in hand
175,030
10,087

175,030
10,087



10.


CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2023
2022
£
£

Trade creditors
130,989
189,986

Amounts owed to group undertakings
3,479,904
2,389,804

Other taxation and social security
183,147
80,207

Obligations under finance lease and hire purchase contracts
1,826,719
1,802,076

Other creditors
763,119
12,709

Accruals and deferred income
18,931
40,262

6,402,809
4,515,044


Page 14

 
ARROWCRUIT LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023

11.


CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

2023
2022
£
£

Net obligations under finance leases and hire purchase contracts
2,838,563
3,178,094

Other creditors
55,322
50,445

2,893,885
3,228,539


The net obligations under finance leases and hire purchase contracts are secured upon the assets to which they relate.

The following liabilities were secured:

2023
2022
£
£



Net obligations under finance leases and hire purchase contracts
4,665,282
4,980,170

4,665,282
4,980,170

Details of security provided:

The net obligations under finance leases and hire purchase contracts are secured upon the assets to which they relate.


12.


PENSION COMMITMENTS

The company contributes to a defined contribution pension scheme. Contributions totalling £5,000          (31 December 2022: £5,000) were payable to the fund at the balance sheet date.


13.


COMMITMENTS UNDER OPERATING LEASES

At 31 December 2023 the company had future minimum lease payments due under non-cancellable operating leases for each of the following periods:

2023
2022
£
£


Not later than 1 year
24,696
24,696

Later than 1 year and not later than 5 years
14,406
39,102

39,102
63,798

Page 15

 
ARROWCRUIT LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023

14.


RELATED PARTY TRANSACTIONS

At 31 December 2023 the directors were owed £37,682 (1 January 2023: £34,442).
During the year the company had sales amounting to £269,070 with companies and businesses in which the directors have an interest. At 31 December 2023 £501,710 (
1 January 2023: £32,837) was due from these companies.
 


15.


CONTROLLING PARTY

The company's ultimate parent company is Arrowcruit Holdings Limited (address: White House Farm, Sandy Lane West, Billingham, Stockton on Tees, TS22 5NB) a company incorporated in England and Wales.
The consolidated financial statements for the group are publicly available from Companies House, Crown Way, Maindy, Cardiff.

 
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