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REGISTERED NUMBER: 03077182 (England and Wales)















ARCOM IT LIMITED

UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 DECEMBER 2023






ARCOM IT LIMITED (REGISTERED NUMBER: 03077182)

CONTENTS OF THE FINANCIAL STATEMENTS
for the year ended 31 December 2023










Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4

Chartered Accountants' Report 7

ARCOM IT LIMITED

COMPANY INFORMATION
for the year ended 31 December 2023







Directors: S Azeem
J P C Ruffle





Registered office: The Ebb Stadium
High Street
Aldershot
Hampshire
GU11 1TW





Registered number: 03077182 (England and Wales)





Accountants: JPS Accountancy Limited
Chartered Accountants
Thorncroft Manor
Thorncroft Drive
Leatherhead
Surrey
KT22 8JB

ARCOM IT LIMITED (REGISTERED NUMBER: 03077182)

BALANCE SHEET
31 December 2023

2023 2022
Notes £    £   
FIXED ASSETS
Tangible assets 4 7,863 4,339

CURRENT ASSETS
Stocks 5,047 5,212
Debtors 5 499,064 507,369
Cash in hand 96 23
504,207 512,604
CREDITORS
Amounts falling due within one year 6 (605,012 ) (615,261 )
NET CURRENT LIABILITIES (100,805 ) (102,657 )
TOTAL ASSETS LESS CURRENT LIABILITIES (92,942 ) (98,318 )

CREDITORS
Amounts falling due after more than one
year

7

(288,852

)

(347,416

)
NET LIABILITIES (381,794 ) (445,734 )

CAPITAL AND RESERVES
Called up share capital 100 100
Retained earnings (381,894 ) (445,834 )
(381,794 ) (445,734 )

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 December 2023.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 December 2023 in accordance with Section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for:
(a)ensuring that the company keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006 and
(b)preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of each financial year and of its profit or loss for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the company.

ARCOM IT LIMITED (REGISTERED NUMBER: 03077182)

BALANCE SHEET - continued
31 December 2023


The financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

In accordance with Section 444 of the Companies Act 2006, the Profit and Loss Account has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 23 September 2024 and were signed on its behalf by:





S Azeem - Director


ARCOM IT LIMITED (REGISTERED NUMBER: 03077182)

NOTES TO THE FINANCIAL STATEMENTS
for the year ended 31 December 2023


1. STATUTORY INFORMATION

Arcom IT Limited is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.

2. ACCOUNTING POLICIES

Basis of preparing the financial statements
These financial statements have been prepared in accordance with the provisions of Section 1A "Small Entities" of Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention unless otherwise stated below.

The financial statements have been prepared on a going concern basis as this is considered appropriate by the directors. A director will continue to financially support the company for the foreseeable future and enable the company to meet its liabilities as they fall due.

Turnover
Turnover is measured at the fair value of the consideration receivable for the sale of goods and services in the ordinary course of the business, excluding value added tax. Turnover from the sale of services is recognised by reference to the stage of completion of the transaction.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Office equipment - 25% on reducing balance
Computer equipment - 25% on cost

Stocks
Stocks are measured at the lower of cost and estimated selling price less costs to complete and sell.

Financial instruments
Financial instruments are classified by directors as basic or non-basic following the conditions of FRS 102 Section 11. Basic financial instruments are initially measured at transaction price (including transaction costs) and subsequently recognised at amortised cost using the effective interest method. The company does not have any non-basic instruments.

Taxation
Taxation for the year comprises current and deferred tax. Current tax is recognised at the amount of tax payable using the tax rates and laws that have been enacted or substantively enacted by the balance sheet date.

Deferred tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date.

Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from those in which they are recognised in financial statements. Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the year end and that are expected to apply to the reversal of the timing difference.

Unrelieved tax losses and other deferred tax assets are recognised only to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits.

ARCOM IT LIMITED (REGISTERED NUMBER: 03077182)

NOTES TO THE FINANCIAL STATEMENTS - continued
for the year ended 31 December 2023


2. ACCOUNTING POLICIES - continued

Hire purchase and leasing commitments
Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease.

Pension costs and other post-retirement benefits
The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 9 (2022 - 11 ) .

4. TANGIBLE FIXED ASSETS
Office Computer
equipment equipment Totals
£    £    £   
Cost
At 1 January 2023 12,078 12,808 24,886
Additions 6,197 - 6,197
At 31 December 2023 18,275 12,808 31,083
Depreciation
At 1 January 2023 11,379 9,168 20,547
Charge for year 820 1,853 2,673
At 31 December 2023 12,199 11,021 23,220
Net book value
At 31 December 2023 6,076 1,787 7,863
At 31 December 2022 699 3,640 4,339

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Trade debtors 209,794 192,528
Amounts owed by group undertakings 188,003 188,003
Other debtors 101,267 126,838
499,064 507,369

ARCOM IT LIMITED (REGISTERED NUMBER: 03077182)

NOTES TO THE FINANCIAL STATEMENTS - continued
for the year ended 31 December 2023


6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Bank loans and overdrafts 189,525 153,164
Trade creditors 109,636 124,035
Taxation and social security 57,759 51,705
Other creditors 248,092 286,357
605,012 615,261

7. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR
2023 2022
£    £   
Bank loans 174,474 248,813
Other creditors 114,378 98,603
288,852 347,416

8. LEASING AGREEMENTS

Minimum lease payments under non-cancellable operating leases fall due as follows:
2023 2022
£    £   
Within one year - 51,378
Between one and five years - 207,667
In more than five years - 36,462
- 295,507

9. SECURED DEBTS

At 31 December 2023, there was a bank loan of £112,016 (2022: £139,796) which is secured by a fixed and floating charge over the assets of the company. There is also a personal guarantee which has been given as security by a director of the company.

CHARTERED ACCOUNTANTS' REPORT TO THE BOARD OF DIRECTORS
ON THE UNAUDITED FINANCIAL STATEMENTS OF
ARCOM IT LIMITED


The following reproduces the text of the report prepared for the directors in respect of the company's annual unaudited financial statements. In accordance with the Companies Act 2006, the company is only required to file a Balance Sheet. Readers are cautioned that the Income Statement and certain other primary statements and the Report of the Directors are not required to be filed with the Registrar of Companies.

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the financial statements of Arcom IT Limited for the year ended 31 December 2023 which comprise the Profit and Loss Account, Balance Sheet and the related notes from the company's accounting records and from information and explanations you have given us.

As a practising member firm of the Institute of Chartered Accountants in England and Wales (ICAEW), we are subject to its ethical and other professional requirements which are detailed within the ICAEW's regulations and guidance at http://www.icaew.com/en/membership/regulations-standards-and-guidance.

This report is made solely to the Board of Directors of Arcom IT Limited, as a body, in accordance with our terms of engagement. Our work has been undertaken solely to prepare for your approval the financial statements of Arcom IT Limited and state those matters that we have agreed to state to the Board of Directors of Arcom IT Limited, as a body, in this report in accordance with ICAEW Technical Release 07/16AAF. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than Arcom IT Limited and its Board of Directors, as a body, for our work or for this report.

It is your duty to ensure that Arcom IT Limited has kept adequate accounting records and to prepare statutory financial statements that give a true and fair view of the assets, liabilities, financial position and profit of Arcom IT Limited. You consider that Arcom IT Limited is exempt from the statutory audit requirement for the year.

We have not been instructed to carry out an audit or a review of the financial statements of Arcom IT Limited. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory financial statements.






JPS Accountancy Limited
Chartered Accountants
Thorncroft Manor
Thorncroft Drive
Leatherhead
Surrey
KT22 8JB


23 September 2024