Registered number
01165875
Arnold Richer Curran Limited
Filleted Accounts
31 December 2023
Arnold Richer Curran Limited
Registered number: 01165875
Balance Sheet
as at 31 December 2023
Notes 2023 2022
£ £
Fixed assets
Tangible assets 3 730 859
Investments 4 1,425 1,425
2,155 2,284
Current assets
Debtors 5 32,036 33,787
Cash at bank and in hand 24,759 19,005
56,795 52,792
Creditors: amounts falling due within one year 6 (4,002) (2,761)
Net current assets 52,793 50,031
Total assets less current liabilities 54,948 52,315
Provisions for liabilities (137) (162)
Net assets 54,811 52,153
Capital and reserves
Called up share capital 50,100 50,100
Profit and loss account 4,711 2,053
Shareholders' funds 54,811 52,153
The directors are satisfied that the company is entitled to exemption from the requirement to obtain an audit under section 477 of the Companies Act 2006.
The members have not required the company to obtain an audit in accordance with section 476 of the Act.
The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts.
The accounts have been prepared and delivered in accordance with the special provisions applicable to companies subject to the small companies regime. The profit and loss account has not been delivered to the Registrar of Companies.
Mrs D M Curran
Director
Approved by the board on 24 September 2024
Arnold Richer Curran Limited
Notes to the Accounts
for the year ended 31 December 2023
1 Accounting policies
Basis of preparation
The accounts have been prepared under the historical cost convention and in accordance with FRS 102, The Financial Reporting Standard applicable in the UK and Republic of Ireland (as applied to small entities by section 1A of the standard).
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 from the sale of goods is recognised when the significant risks and rewards of ownership of the goods have transferred to the buyer. 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
Tangible fixed assets are measured at cost less accumulative depreciation and any accumulative impairment losses. Depreciation is provided on all tangible fixed assets, other than freehold land, at rates calculated to write off the cost, less estimated residual value, of each asset evenly over its expected useful life, as follows:
Fixtures, fittings, & computer equipment 15% reducing balance method
Investments
Investments in subsidiaries, associates and joint ventures are measured at cost less any accumulated impairment losses. Listed investments are measured at fair value. Unlisted investments are measured at fair value unless the value cannot be measured reliably, in which case they are measured at cost less any accumulated impairment losses. Changes in fair value are included in the profit and loss account. In all cases, fair value is assessed by the directors unless otherwise indicated.
Debtors
Short term debtors are measured at transaction price (which is usually the invoice price), less any impairment losses for bad and doubtful debts. Loans and other financial assets are initially recognised at transaction price including any transaction costs and subsequently measured at amortised cost determined using the effective interest method, less any impairment losses for bad and doubtful debts.
Creditors
Short term creditors are measured at transaction price (which is usually the invoice price). Loans and other financial liabilities are initially recognised at transaction price net of any transaction costs and subsequently measured at amortised cost determined using the effective interest method.
Taxation
A current tax liability is recognised for the tax payable on the taxable profit of the current and past periods. A current tax asset is recognised in respect of a tax loss that can be carried back to recover tax paid in a previous period. Deferred tax is recognised in respect of all timing differences between the recognition of income and expenses in the financial statements and their inclusion in tax assessments. 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. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date and that are expected to apply to the reversal of the timing difference, except for revalued land and investment property where the tax rate that applies to the sale of the asset is used. Current and deferred tax assets and liabilities are not discounted.
Provisions
Provisions (ie liabilities of uncertain timing or amount) are recognised when there is an obligation at the reporting date as a result of a past event, it is probable that economic benefit will be transferred to settle the obligation and the amount of the obligation can be estimated reliably.
Leased assets
A lease is classified as a finance lease if it transfers substantially all the risks and rewards incidental to ownership. All other leases are classified as operating leases. The rights of use and obligations under finance leases are initially recognised as assets and liabilities at amounts equal to the fair value of the leased assets or, if lower, the present value of the minimum lease payments. Minimum lease payments are apportioned between the finance charge and the reduction in the outstanding liability using the effective interest rate method. The finance charge is allocated to each period during the lease so as to produce a constant periodic rate of interest on the remaining balance of the liability. Leased assets are depreciated in accordance with the company's policy for tangible fixed assets. If there is no reasonable certainty that ownership will be obtained at the end of the lease term, the asset is depreciated over the lower of the lease term and its useful life. Operating lease payments are recognised as an expense on a straight line basis over the lease term.
2 Employees 2023 2022
Number Number
Average number of persons employed by the company 1 1
3 Tangible fixed assets
Computer equipment Fixtures & fittings Total
£ £ £
Cost
At 1 January 2023 14,917 12,797 27,714
At 31 December 2023 14,917 12,797 27,714
Depreciation
At 1 January 2023 14,149 12,706 26,855
Charge for the year 115 14 129
At 31 December 2023 14,264 12,720 26,984
Net book value
At 31 December 2023 653 77 730
At 31 December 2022 768 91 859
4 Investments
Other
investments
£
Cost
At 1 January 2023 1,425
At 31 December 2023 1,425
5 Debtors 2023 2022
£ £
Other debtors 32,036 33,787
6 Creditors: amounts falling due within one year 2023 2022
£ £
Trade creditors 428 428
Corporation tax 1,352 69
Other taxes and social security costs 183 345
Other creditors 2,039 1,919
4,002 2,761
7 Transactions with Directors
The company has afforded its directors the facility of a current account. Movements on this account are summarised below:
2023
£
Balance brought forward-due to the company 14,120
Net salary credited (3,310)
Dividend undrawn (3,000)
Mileage incurred on company's behalf credited (1,350)
Use of home credited (1,040)
Directors' personal expenditure met from company funds 6,949
Balance carried forward-due to the company 12,369
8 Other information
Arnold Richer Curran Limited is a private company limited by shares and incorporated in Wales. Its registered office is:
66 Whitchurch Road
Maindy
Cardiff
South Glamorgan
CF14 3LX
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