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Registered number: 08457407
Arcot Grange Developments Limited
Unaudited Financial Statements
For The Year Ended 31 March 2024
Contents
Page
Statement of Financial Position 1—2
Notes to the Financial Statements 3—5
Page 1
Statement of Financial Position
Registered number: 08457407
2024 2023
Notes £ £ £ £
FIXED ASSETS
Tangible Assets 4 69,510 85,786
69,510 85,786
CURRENT ASSETS
Stocks 5 1,550,000 1,195,000
Debtors 6 134,438 604
Cash at bank and in hand - 196,978
1,684,438 1,392,582
Creditors: Amounts Falling Due Within One Year 7 (929,585 ) (542,482 )
NET CURRENT ASSETS (LIABILITIES) 754,853 850,100
TOTAL ASSETS LESS CURRENT LIABILITIES 824,363 935,886
Creditors: Amounts Falling Due After More Than One Year 8 (790,154 ) (825,423 )
PROVISIONS FOR LIABILITIES
Deferred Taxation (13,055 ) (12,294 )
NET ASSETS 21,154 98,169
CAPITAL AND RESERVES
Called up share capital 10 1 1
Income Statement 21,153 98,168
SHAREHOLDERS' FUNDS 21,154 98,169
Page 1
Page 2
For the year ending 31 March 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
The member has 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.
These accounts have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime.
The company has taken advantage of section 444(1) of the Companies Act 2006 and opted not to deliver to the registrar a copy of the company's Income Statement.
On behalf of the board
Mr Stuart Moy
Director
17/09/2024
The notes on pages 3 to 5 form part of these financial statements.
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Page 3
Notes to the Financial Statements
1. General Information
Arcot Grange Developments Limited is a private company, limited by shares, incorporated in England & Wales, registered number 08457407 . The registered office is 24 Apex Business Village, Cramlington, Northumberland, NE23 7BF.
2. Accounting Policies
2.1. Basis of Preparation of Financial Statements
The financial statements have been prepared under the historical cost convention and in accordance with Financial Reporting Standard 102 section 1A Small Entities "The Financial Reporting Standard applicable in the UK and Republic of Ireland" and the Companies Act 2006.
2.2. Turnover
Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover includes revenue earned from the sale of goods and from the rendering of services. Turnover is reduced for estimated customer returns, rebates and other similar allowances.
Sale of goods
Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods has transferred to the buyer. This is usually at the point that the customer has signed for the delivery of the goods.
Rendering of services
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. Turnover is only recognised to the extent of recoverable expenses when the outcome of a contract cannot be estimated reliably.
2.3. Tangible Fixed Assets and Depreciation
Tangible fixed assets are measured at cost less accumulated depreciation and any accumulated impairment losses. Depreciation is provided at rates calculated to write off the cost of the fixed assets, less their estimated residual value, over their expected useful lives on the following bases:
Plant & Machinery 20% reducing balance
Motor Vehicles 25% reducing balance
Computer Equipment 33.3% reducing balance
2.4. Leasing and Hire Purchase Contracts
Assets obtained under finance leases are capitalised as tangible fixed assets. Assets acquired under finance leases are depreciated over the shorter of the lease term and their useful lives. Assets acquired under hire purchase contracts are depreciated over their useful lives. Finance leases are those where substantially all of the benefits and risks of ownership are assumed by the company. Obligations under such agreements are included in the creditors net of the finance charge allocated to future periods. The finance element of the rental payment is charged to the income statement so as to produce a constant periodic rate of charge on the net obligation outstanding in each period.

Rentals applicable to operating leases where substantially all of the benefits and risks of ownership remain with the lessor are charged to income statement as incurred.
2.5. Stocks and Work in Progress
Stocks and work in progress are valued at the lower of cost and net realisable value after making due allowance for obsolete and slow-moving stocks. Cost includes all direct costs and an appropriate proportion of fixed and variable overheads. Work-in-progress is reflected in the accounts on a contract by contract basis by recording turnover and related costs as contract activity progresses.
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2.6. Taxation
Income tax expense represents the sum of the tax currently payable and deferred tax.
The tax currently payable is based on taxable profit for the year. Taxable profit differs from profit as reported in the statement of comprehensive income because of items of income or expense that are taxable or deductible in other years and items that are never taxable or deductible. The company's liability for current tax is calculated using tax rates that have been enacted or substantively enacted by the end of the reporting period.
Deferred tax is recognised on timing differences between the carrying amounts of assets and liabilities in the financial statements and the corresponding tax bases used in the computation of taxable profit. Deferred tax liabilities are generally recognised for all taxable timing differences. Deferred tax assets are generally recognised for all deductible temporary differences to the extent that it is probable that taxable profits will be available against which those deductible timing differences can be utilised. The carrying amount of deferred tax assets is reviewed at the end of each reporting period and reduced to the extent that it is no longer probable that sufficient taxable profits will be available to allow all or part of the asset to be recovered.
Deferred tax assets and liabilities are measured at the tax rates that are expected to apply in the period in which the liability is settled or the asset realised, based on tax rates (and tax laws) that have been enacted or substantively enacted by the end of the reporting period. Deferred tax liabilities are presented within provisions for liabilities and deferred tax assets within debtors. The measurement of deferred tax liabilities and assets reflect the tax consequences that would follow from the manner in which the Company expects, at the end of the reporting period, to recover or settle the carrying amount of its assets and liabilities.
Current or deferred tax for the year is recognised in profit or loss, except when they related to items that are recognised in other comprehensive income or directly in equity, in which case, the current and deferred tax is also recognised in other comprehensive income or directly in equity respectively.
3. Average Number of Employees
Average number of employees, including directors, during the year was: 6 (2023: 6)
6 6
4. Tangible Assets
Plant & Machinery Motor Vehicles Computer Equipment Total
£ £ £ £
Cost
As at 1 April 2023 161,015 64,754 8,719 234,488
Additions 435 - 1,815 2,250
Disposals - - (1,600 ) (1,600 )
As at 31 March 2024 161,450 64,754 8,934 235,138
Depreciation
As at 1 April 2023 91,966 51,588 5,148 148,702
Provided during the period 13,884 3,291 1,261 18,436
Disposals - - (1,510 ) (1,510 )
As at 31 March 2024 105,850 54,879 4,899 165,628
Net Book Value
As at 31 March 2024 55,600 9,875 4,035 69,510
As at 1 April 2023 69,049 13,166 3,571 85,786
5. Stocks
2024 2023
£ £
Stock 75,000 75,000
Work in progress 1,475,000 1,120,000
1,550,000 1,195,000
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6. Debtors
2024 2023
£ £
Due within one year
Trade debtors 6,735 -
Other debtors 127,703 604
134,438 604
7. Creditors: Amounts Falling Due Within One Year
2024 2023
£ £
Net obligations under finance lease and hire purchase contracts 6,860 20,349
Trade creditors 22,335 40,275
Bank loans and overdrafts 3,899 -
Other loans 620,437 55,022
Other creditors 272,423 422,949
Taxation and social security 3,631 3,887
929,585 542,482
8. Creditors: Amounts Falling Due After More Than One Year
2024 2023
£ £
Net obligations under finance lease and hire purchase contracts 13,920 17,831
Other loans 776,234 807,592
790,154 825,423
9. Obligations Under Finance Leases and Hire Purchase
2024 2023
£ £
The future minimum finance lease payments are as follows:
Not later than one year 6,860 20,349
Later than one year and not later than five years 13,920 17,831
20,780 38,180
20,780 38,180
10. Share Capital
2024 2023
£ £
Allotted, Called up and fully paid 1 1
11. Directors Advances, Credits and Guarantees
Included within other creditors is a loan provided by Mr S Moy who is a director.  As at 31 March 2024 the company owed Mr S Moy £254,062 (2023: £422,798)
The above loan is unsecured, interest free and repayable on demand.
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