24 false false false false false false false false false true false false false false false false No description of principal activity 2022-10-01 Sage Accounts Production Advanced 2021 - FRS102_2021 xbrli:pure xbrli:shares iso4217:GBP 07293975 2022-10-01 2023-09-30 07293975 2023-09-30 07293975 2022-09-30 07293975 2021-10-01 2022-09-30 07293975 2022-09-30 07293975 bus:Director1 2022-10-01 2023-09-30 07293975 core:LandBuildings core:LongLeaseholdAssets 2022-09-30 07293975 core:PlantMachinery 2022-09-30 07293975 core:FurnitureFittings 2022-09-30 07293975 core:LandBuildings core:LongLeaseholdAssets 2023-09-30 07293975 core:PlantMachinery 2023-09-30 07293975 core:FurnitureFittings 2023-09-30 07293975 core:MotorVehicles 2023-09-30 07293975 core:LandBuildings core:LongLeaseholdAssets 2022-10-01 2023-09-30 07293975 core:PlantMachinery 2022-10-01 2023-09-30 07293975 core:FurnitureFittings 2022-10-01 2023-09-30 07293975 core:MotorVehicles 2022-10-01 2023-09-30 07293975 core:WithinOneYear 2023-09-30 07293975 core:WithinOneYear 2022-09-30 07293975 core:AfterOneYear 2023-09-30 07293975 core:ShareCapital 2023-09-30 07293975 core:ShareCapital 2022-09-30 07293975 core:RetainedEarningsAccumulatedLosses 2023-09-30 07293975 core:RetainedEarningsAccumulatedLosses 2022-09-30 07293975 core:LandBuildings core:LongLeaseholdAssets 2022-09-30 07293975 core:PlantMachinery 2022-09-30 07293975 core:FurnitureFittings 2022-09-30 07293975 bus:SmallEntities 2022-10-01 2023-09-30 07293975 bus:AuditExemptWithAccountantsReport 2022-10-01 2023-09-30 07293975 bus:FullAccounts 2022-10-01 2023-09-30 07293975 bus:SmallCompaniesRegimeForAccounts 2022-10-01 2023-09-30 07293975 bus:PrivateLimitedCompanyLtd 2022-10-01 2023-09-30
COMPANY REGISTRATION NUMBER: 07293975
ARCK LIVING SOLUTIONS LTD
FILLETED UNAUDITED FINANCIAL STATEMENTS
30 September 2023
ARCK LIVING SOLUTIONS LTD
FINANCIAL STATEMENTS
Year ended 30 September 2023
CONTENTS
PAGE
Balance sheet
1
Notes to the financial statements
3
ARCK LIVING SOLUTIONS LTD
BALANCE SHEET
30 September 2023
2023
2022
Note
£
£
FIXED ASSETS
Tangible assets
5
89,496
58,993
CURRENT ASSETS
Debtors
6
404,264
252,255
Cash at bank and in hand
116,656
293,075
---------
---------
520,920
545,330
CREDITORS: amounts falling due within one year
7
( 64,664)
( 110,298)
---------
---------
NET CURRENT ASSETS
456,256
435,032
---------
---------
TOTAL ASSETS LESS CURRENT LIABILITIES
545,752
494,025
CREDITORS: amounts falling due after more than one year
8
( 29,359)
PROVISIONS
( 13,306)
( 13,438)
---------
---------
NET ASSETS
503,087
480,587
---------
---------
CAPITAL AND RESERVES
Called up share capital
2
2
Profit and loss account
503,085
480,585
---------
---------
SHAREHOLDERS FUNDS
503,087
480,587
---------
---------
These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with Section 1A of FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.
In accordance with section 444 of the Companies Act 2006, the profit and loss account has not been delivered.
For the year ending 30 September 2023 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
Director's responsibilities:
- The members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476 ;
- The director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements .
ARCK LIVING SOLUTIONS LTD
BALANCE SHEET (continued)
30 September 2023
These financial statements were approved by the board of directors and authorised for issue on 25 September 2024 , and are signed on behalf of the board by:
Mr R C Hunt
Director
Company registration number: 07293975
ARCK LIVING SOLUTIONS LTD
NOTES TO THE FINANCIAL STATEMENTS
Year ended 30 September 2023
1. GENERAL INFORMATION
The company is a private company limited by shares, registered in England & Wales. The address of the registered office is Cwmrhuddan Mansion A4069, Llangadog Road, Llandovery, Carmarthenshire, SA20 0DX.
2. STATEMENT OF COMPLIANCE
These financial statements have been prepared in compliance with Section 1A of FRS 102, 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland'.
3. ACCOUNTING POLICIES
Basis of preparation
The financial statements have been prepared on the historical cost basis, as modified by the revaluation of certain financial assets and liabilities and investment properties measured at fair value through profit or loss.
The financial statements are prepared in sterling, which is the functional currency of the entity.
Turnover
Turnover is measured at the fair value of the consideration received or receivable and represents amounts receivable for services and accommodation provided to residents, stated net of discounts.
Taxation
The taxation expense represents the aggregate amount of current and deferred tax recognised in the reporting period. Tax is recognised in profit or loss, except to the extent that it relates to items recognised in other comprehensive income or directly in equity. In this case, tax is recognised in other comprehensive income or directly in equity, respectively. Current tax is recognised on taxable profit for the current and past periods. Current tax is measured at the amounts of tax expected to pay or recover using the tax rates and laws that have been enacted or substantively enacted at the reporting date.
Deferred tax is recognised in respect of all timing differences at the reporting date. Unrelieved tax losses and other deferred tax assets are recognised to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date that are expected to apply to the reversal of the timing difference.
Tangible assets
Tangible assets are initially recorded at cost, and subsequently stated at cost less any accumulated depreciation and impairment losses. Any tangible assets carried at revalued amounts are recorded at the fair value at the date of revaluation less any subsequent accumulated depreciation and subsequent accumulated impairment losses. An increase in the carrying amount of an asset as a result of a revaluation, is recognised in other comprehensive income and accumulated in equity, except to the extent it reverses a revaluation decrease of the same asset previously recognised in profit or loss. A decrease in the carrying amount of an asset as a result of revaluation, is recognised in other comprehensive income to the extent of any previously recognised revaluation increase accumulated in equity in respect of that asset. Where a revaluation decrease exceeds the accumulated revaluation gains accumulated in equity in respect of that asset, the excess shall be recognised in profit or loss.
Depreciation
Depreciation is calculated so as to write off the cost or valuation of an asset, less its residual value, over the useful economic life of that asset as follows:
Leasehold property
-
5%-25% on cost
Plant and machinery
-
15% on cost
Fixtures and fittings
-
15% on cost
Motor vehicles
-
25%
Impairment of fixed assets
A review for indicators of impairment is carried out at each reporting date, with the recoverable amount being estimated where such indicators exist. Where the carrying value exceeds the recoverable amount, the asset is impaired accordingly. Prior impairments are also reviewed for possible reversal at each reporting date. For the purposes of impairment testing, when it is not possible to estimate the recoverable amount of an individual asset, an estimate is made of the recoverable amount of the cash-generating unit to which the asset belongs. The cash-generating unit is the smallest identifiable group of assets that includes the asset and generates cash inflows that largely independent of the cash inflows from other assets or groups of assets. For impairment testing of goodwill, the goodwill acquired in a business combination is, from the acquisition date, allocated to each of the cash-generating units that are expected to benefit from the synergies of the combination, irrespective of whether other assets or liabilities of the company are assigned to those units.
Finance leases and hire purchase contracts
Assets held under finance leases and hire purchase contracts are recognised in the balance sheet as assets and liabilities at the lower of the fair value of the assets and the present value of the minimum lease payments, which is determined at the inception of the lease term. Any initial direct costs of the lease are added to the amount recognised as an asset. Lease payments are apportioned between the finance charges and reduction of the outstanding lease liability using the effective interest method. Finance charges are allocated to each period so as to produce a constant rate of interest on the remaining balance of the liability.
Provisions
Provisions are recognised when the entity has an obligation at the reporting date as a result of a past event, it is probable that the entity will be required to transfer economic benefits in settlement and the amount of the obligation can be estimated reliably. Provisions are recognised as a liability in the balance sheet and the amount of the provision as an expense. Provisions are initially measured at the best estimate of the amount required to settle the obligation at the reporting date and subsequently reviewed at each reporting date and adjusted to reflect the current best estimate of the amount that would be required to settle the obligation. Any adjustments to the amounts previously recognised are recognised in profit or loss unless the provision was originally recognised as part of the cost of an asset. When a provision is measured at the present value of the amount expected to be required to settle the obligation, the unwinding of the discount is recognised as a finance cost in profit or loss in the period it arises.
Financial instruments
A financial asset or a financial liability is recognised only when the company becomes a party to the contractual provisions of the instrument. Basic financial instruments are initially recognised at the transaction price, unless the arrangement constitutes a financing transaction, where it is recognised at the present value of the future payments discounted at a market rate of interest for a similar debt instrument. Debt instruments are subsequently measured at amortised cost. Where investments in non-convertible preference shares and non-puttable ordinary shares or preference shares are publicly traded or their fair value can otherwise be measured reliably, the investment is subsequently measured at fair value with changes in fair value recognised in profit or loss. All other such investments are subsequently measured at cost less impairment. Other financial instruments, including derivatives, are initially recognised at fair value, unless payment for an asset is deferred beyond normal business terms or financed at a rate of interest that is not a market rate, in which case the asset is measured at the present value of the future payments discounted at a market rate of interest for a similar debt instrument. Other financial instruments are subsequently measured at fair value, with any changes recognised in profit or loss, with the exception of hedging instruments in a designated hedging relationship.
Financial assets that are measured at cost or amortised cost are reviewed for objective evidence of impairment at the end of each reporting date. If there is objective evidence of impairment, an impairment loss is recognised in profit or loss immediately. For all equity instruments regardless of significance, and other financial assets that are individually significant, these are assessed individually for impairment. Other financial assets are either assessed individually or grouped on the basis of similar credit risk characteristics. Any reversals of impairment are recognised in profit or loss immediately, to the extent that the reversal does not result in a carrying amount of the financial asset that exceeds what the carrying amount would have been had the impairment not previously been recognised.
Defined contribution plans
Contributions to defined contribution plans are recognised as an expense in the period in which the related service is provided. Prepaid contributions are recognised as an asset to the extent that the prepayment will lead to a reduction in future payments or a cash refund. When contributions are not expected to be settled wholly within 12 months of the end of the reporting date in which the employees render the related service, the liability is measured on a discounted present value basis. The unwinding of the discount is recognised as a finance cost in profit or loss in the period in which it arises.
4. EMPLOYEE NUMBERS
The average number of persons employed by the company during the year amounted to 24 (2022: 28 ).
5. TANGIBLE ASSETS
Leasehold property
Plant and machinery
Fixtures and fittings
Motor vehicles
Total
£
£
£
£
£
Cost
At 1 October 2022
52,768
11,904
65,904
130,576
Additions
2,089
8,945
33,356
44,390
--------
--------
--------
--------
---------
At 30 September 2023
52,768
13,993
74,849
33,356
174,966
--------
--------
--------
--------
---------
Depreciation
At 1 October 2022
42,126
9,078
20,379
71,583
Charge for the year
1,398
1,212
9,192
2,085
13,887
--------
--------
--------
--------
---------
At 30 September 2023
43,524
10,290
29,571
2,085
85,470
--------
--------
--------
--------
---------
Carrying amount
At 30 September 2023
9,244
3,703
45,278
31,271
89,496
--------
--------
--------
--------
---------
At 30 September 2022
10,642
2,826
45,525
58,993
--------
--------
--------
--------
---------
6. DEBTORS
2023
2022
£
£
Trade debtors
5,855
7,595
Amounts owed by group undertakings and undertakings in which the company has a participating interest
337,289
180,136
Other debtors
61,120
64,524
---------
---------
404,264
252,255
---------
---------
7. CREDITORS: amounts falling due within one year
2023
2022
£
£
Corporation tax
6
39,051
Social security and other taxes
6,841
6,451
Other creditors
57,817
64,796
--------
---------
64,664
110,298
--------
---------
The above includes secured creditors of £3,288 (2022 - £–). These balances are secured over the assets to which they relate.
8. CREDITORS: amounts falling due after more than one year
2023
2022
£
£
Other creditors
29,359
--------
----
The above includes secured creditors of £29,359 (2022 - £-). These balances are secured over the assets to which they relate.
9. DIRECTOR'S ADVANCES, CREDITS AND GUARANTEES
Included within creditors is a balance of £43,440 (2022 - £48,974) due to a director. This balance is interest free and repayable on demand.
10. RELATED PARTY TRANSACTIONS
The company has taken advantage of the exemption provided by Section 33 of Financial Reporting Standard 102 from the requirement to disclose transactions between wholly owned members of the same group.
11. CONTROLLING PARTY
The ultimate parent company is RCH (Wales) Limited, registered in England & Wales, which owns 100% of the allotted share capital. The registered office of RCH (Wales) Limited is Cwmrhuddan Mansion, Llandovery, SA20 0DX.