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Registration number: 01147853

Arista (U.K.) Limited

Annual Report and Financial Statements

for the Year Ended 31 December 2023

 

Arista (U.K.) Limited

Contents

Company Information

1

Strategic Report

2

Directors' Report

3

Statement of Directors' Responsibilities

4

Independent Auditor's Report

5 to 8

Profit and Loss Account

9

Balance Sheet

10

Statement of Changes in Equity

11

Statement of Cash Flows

12

Notes to the Financial Statements

13 to 21

 

Arista (U.K.) Limited

Company Information

Directors

SR Bank

J J Bank

R E Bank

Company secretary

R E Bank

Registered office

Unit 3, Bank House
Greenfield Road
Colne
Lancs
BB8 9NL

Auditors

MacMahon Leggate Limited
Chartered Accountants and Registered Auditors
1st Floor
Kingsway House
Kingsway
Burnley
Lancashire
BB11 1BJ

 

Arista (U.K.) Limited

Strategic Report for the Year Ended 31 December 2023

The directors present their strategic report for the year ended 31 December 2023.

Principal activity

The principal activity of the company is that of textile merchants.

Fair review of the business

The company has experienced 11% reduced turnover over the past year due to diversifying its product ranges and decline in local demand. Challenges in operational efficiency and market competition have highlighted areas needing strategic focus. We will continue to look for more regular ranges and keeping operational costs efficient whilst investing in more digital forms of reaching our customers.

Principal risks and uncertainties

During the year turnover showed a substantial drop. The outlook amongst customers and the view of the directors is that this will continue. The directors are carefully monitoring the situation.

The gross margin increased due to the change in buying, having less write downs and left over stock needing to be cleared. This margin is unlikely to continue at these levels especially due to worldwide shipping issues.

The operating loss is due to the directors increasing their incomes with the encouragement of the controlling shareholder’s view that previous years had been inadequately rewarded. Shareholders’ funds are more than adequate for predicted trading.

Increases in establishment/overhead costs are likely to continue although recently installed solar panels might contribute at some point.

Approved and authorised by the Board on 13 June 2024 and signed on its behalf by:
 

.........................................
R E Bank
Company secretary and director

 

Arista (U.K.) 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 of the company

The directors who held office during the year were as follows:

SR Bank

J J Bank

R E Bank - Company secretary and director

Financial instruments

Objectives and policies

The Directors manage the company's exposure to financial risk by researching the credit worthiness of customers.

Price risk, credit risk, liquidity risk and cash flow risk

Currency risk is restricted to the short term settlement of trading balances with customers and suppliers.

So extensive are ranges, numerous are customers, conservative and careful is liquidity management that risks appear to be unforeseen national or international problems.

Disclosure of information to the auditors

Each director has taken steps that they ought to have taken as a director in order to make themselves aware of any relevant audit information and to establish that the company's auditors are aware of that information. The directors confirm that there is no relevant information that they know of and of which they know the auditors are unaware.

Reappointment of auditors

In accordance with section 485 of the Companies Act 2006, a resolution for the re-appointment of MacMahon Leggate Limited as auditors of the company is to be proposed at the forthcoming Annual General Meeting.

Approved and authorised by the Board on 13 June 2024 and signed on its behalf by:
 

.........................................
R E Bank
Company secretary and director

 

Arista (U.K.) Limited

Statement of Directors' Responsibilities

The directors acknowledge their responsibilities for preparing the Annual 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 United Kingdom Generally Accepted Accounting Practice (United Kingdom Accounting Standards and applicable law). 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 and apply them consistently;

make judgements and accounting estimates that are reasonable and prudent;

state whether applicable United Kingdom Accounting Standards have been followed, subject to any material departures disclosed and explained in the financial statements; and

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 enable them to ensure that the financial statements comply with the Companies Act 2006. They 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.

 

Arista (U.K.) Limited

Independent Auditor's Report to the Members of Arista (U.K.) Limited

Opinion

We have audited the financial statements of Arista (U.K.) Limited (the 'company') for the year ended 31 December 2023, which comprise the Profit and Loss Account, Balance Sheet, Statement of Changes in Equity, Statement of Cash Flows, and Notes to the Financial Statements, including a summary of significant accounting policies. The 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 loss 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 auditor 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 UK, including the FRC’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.

Conclusions relating to going concern

In auditing the financial statements, we have concluded that the director's 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 original financial statements were 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.

Other information

The directors are responsible for the other information. The other information comprises the information included in the annual report, other than the financial statements and our auditor’s report thereon. Our 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.

In connection with our audit of the financial statements, 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 audit or otherwise appears to be materially misstated. If we identify such material inconsistencies or apparent material misstatements, we are required to determine whether there is a material misstatement in the financial statements or a material misstatement of the other information. 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.

 

Arista (U.K.) Limited

Independent Auditor's Report to the Members of Arista (U.K.) Limited

We have nothing to report in this regard.

Opinion on other matter 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 Strategic Report and Directors' Report for the financial year for which the financial statements are prepared is consistent with the financial statements; and

the Strategic Report and Directors' Report have been prepared in accordance with applicable legal requirements.

Matters on which we are required to report by exception

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

We have nothing to report in respect of the following matters where 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.

Responsibilities of directors

As explained more fully in the Statement of Directors' Responsibilities [set out on page 4], 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.

Auditor 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 auditor’s 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.

 

Arista (U.K.) Limited

Independent Auditor's Report to the Members of Arista (U.K.) Limited

We obtain and update our understanding of the entity, its activities, its control environment, and likely future developments, including in relation to the legal and regulatory framework applicable and how the entity is complying with that framework. Based on this understanding, we identify and assess the risks of material misstatement of the financial statements, whether due to fraud or error, design and perform audit procedures responsive to those risks, and obtain audit evidence that is sufficient and appropriate to provide a basics for our opinion. This includes consideration of the risk of acts by the entity that were contrary to applicable laws and regulations, including fraud.
In response to the risk of irregularities and non-compliance with laws and regulations, including fraud, we designed procedures which included:
• Enquiry of management and those charged with governance around actual and potential litigation and claims as well as actual, suspected and alleged fraud;
• Assessing the extent of compliance with the laws and regulations considered to have a direct material effect on the financial statements or the operations of the company though enquiry and inspection;
• Reviewing financial statement disclosures and testing to supporting documentation to assess compliance with applicable laws and regulations;
• Performing audit work over the risk of management bias and override of controls, including testing of journal entries and other adjustments for appropriateness, evaluating the business rationale of significant transactions outside the normal course of business and reviewing accounting estimates for indicators of potential bias.
Because of the inherent limitations of an audit, there is a risk that we will not detect all irregularities, including those leading to a material misstatement in the financial statements or non-compliance with regulation. This risk increases the more that compliance with a law or regulation is removed from the events and transactions reflected in the financial statements, as we will be less likely to become aware of instances of non-compliance. The risk of not detecting a material misstatement resulting from fraud is higher than for one resulting from error, as fraud may include collusion, forgery, internal omissions, misrepresentations, or the override of internal control.

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.

A further description of our responsibilities is available on the Financial Reporting Council’s website at: www.frc.org.uk/auditorsresponsibilities. This description forms part of our auditor’s report.

 

Arista (U.K.) Limited

Independent Auditor's Report to the Members of Arista (U.K.) Limited

Use of our report

This report is made solely to the company’s members, as a body, in accordance with Chapter 3 of Part 16 of the Companies Act 2006. Our audit work has been undertaken so that we might state to the company’s members those matters we are required to state to them in an auditor’s 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 members as a body, for our audit work, for this report, or for the opinions we have formed.

......................................
Richard Robinson (Senior Statutory Auditor)
For and on behalf of MacMahon Leggate Limited, Statutory Auditor

1st Floor
Kingsway House
Kingsway
Burnley
Lancashire
BB11 1BJ

13 June 2024

 

Arista (U.K.) Limited

Profit and Loss Account for the Year Ended 31 December 2023

Note

2023
£

2022
£

Turnover

9,989,571

11,264,064

Cost of sales

 

(5,458,142)

(6,927,247)

Gross profit

 

4,531,429

4,336,817

Distribution costs

 

(414,216)

(430,454)

Administrative expenses

 

(5,057,200)

(3,191,084)

Operating (loss)/profit

3

(939,987)

715,279

Other interest receivable and similar income

4

188,101

33,585

Interest payable and similar expenses

5

21,888

59,369

   

209,989

92,954

(Loss)/profit before tax

 

(729,998)

808,233

Tax on (loss)/profit

9

158,257

(168,574)

(Loss)/profit for the financial year

 

(571,741)

639,659

The above results were derived from continuing operations.

 

Arista (U.K.) Limited

(Registration number: 01147853)
Balance Sheet as at 31 December 2023

Note

2023
£

2022
£

Fixed assets

 

Intangible assets

10

1

1

Tangible assets

11

2,039,629

2,134,300

 

2,039,630

2,134,301

Current assets

 

Stocks

12

5,792,474

5,082,216

Debtors

13

1,108,292

1,577,211

Cash at bank and in hand

 

5,777,605

5,328,641

 

12,678,371

11,988,068

Creditors: Amounts falling due within one year

15

(3,859,794)

(2,534,164)

Net current assets

 

8,818,577

9,453,904

Total assets less current liabilities

 

10,858,207

11,588,205

Provisions for liabilities

16

(76,074)

(234,331)

Net assets

 

10,782,133

11,353,874

Capital and reserves

 

Called up share capital

30,006

30,006

Revaluation reserve

-

768,911

Retained earnings

10,752,127

10,554,957

Shareholders' funds

 

10,782,133

11,353,874

Approved and authorised by the Board on 13 June 2024 and signed on its behalf by:
 

.........................................
R E Bank
Company secretary and director

 

Arista (U.K.) Limited

Statement of Changes in Equity for the Year Ended 31 December 2023

Share capital
£

Revaluation reserve
£

Retained earnings
£

Total
£

At 1 January 2023

30,006

768,911

10,554,957

11,353,874

Loss for the year

-

-

(571,741)

(571,741)

Other comprehensive income

-

(768,911)

768,911

-

Total comprehensive income

-

(768,911)

197,170

(571,741)

At 31 December 2023

30,006

-

10,752,127

10,782,133

Share capital
£

Revaluation reserve
£

Retained earnings
£

Total
£

At 1 January 2022

30,006

789,692

9,894,517

10,714,215

Profit for the year

-

-

639,659

639,659

Other comprehensive income

-

(20,781)

20,781

-

Total comprehensive income

-

(20,781)

660,440

639,659

At 31 December 2022

30,006

768,911

10,554,957

11,353,874

 

Arista (U.K.) Limited

Statement of Cash Flows for the Year Ended 31 December 2023

Note

2023
£

(As restated)

2022
£

Cash flows from operating activities

(Loss)/profit for the year

 

(571,741)

639,659

Adjustments to cash flows from non-cash items

 

Depreciation and amortisation

3

145,671

176,669

Profit on disposal of tangible assets

-

(14,519)

Finance income

4

(188,101)

(33,585)

Tax expense

9

(158,257)

168,574

 

(772,428)

936,798

Working capital adjustments

 

Increase in stocks

12

(710,258)

(739,928)

Decrease/(increase) in trade debtors

13

468,919

(461,065)

Increase in trade creditors

15

1,325,630

720,789

Cash generated from operations

 

311,863

456,594

Taxes paid

9

-

(200,405)

Net cash flow from operating activities

 

311,863

256,189

Cash flows from investing activities

 

Interest received

4

188,101

33,585

Acquisitions of tangible assets

(51,000)

-

Proceeds from sale of tangible assets

 

-

48,000

Net cash flows from investing activities

 

137,101

81,585

Cash flows from financing activities

 

Payments to finance lease creditors

 

-

(15,614)

Net increase in cash and cash equivalents

 

448,964

322,160

Cash and cash equivalents at 1 January

 

5,328,641

5,006,481

Cash and cash equivalents at 31 December

 

5,777,605

5,328,641

 

Arista (U.K.) Limited

Notes to the Financial Statements for the Year Ended 31 December 2023

1

General information

The company is a private company limited by share capital, incorporated in England and Wales.

The address of its registered office is:
Unit 3, Bank House
Greenfield Road
Colne
Lancs
BB8 9NL
England

These financial statements were authorised for issue by the Board on 13 June 2024.

2

Accounting policies

Summary of significant accounting policies and key accounting estimates

The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.

Statement of compliance

These financial statements were prepared in accordance with Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.

Basis of preparation

These financial statements have been prepared in sterling (£) using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.

Revenue recognition

Turnover comprises the fair value of the consideration received or receivable for the sale of goods and provision of services in the ordinary course of the company’s activities. Turnover is shown net of sales/value added tax, returns, rebates and discounts.

The company recognises revenue when:
The amount of revenue can be reliably measured;
it is probable that future economic benefits will flow to the entity;
and specific criteria have been met for each of the company's activities.

Foreign currency transactions and balances

Transactions in foreign currencies are initially recorded at the functional currency rate prevailing at the date of the transaction. Monetary assets and liabilities denominated in foreign currencies are retranslated into the respective functional currency of the entity at the rates prevailing on the reporting period date. Non-monetary items carried at fair value that are denominated in foreign currencies are retranslated at the rate on the date when the fair value is re-measured.

Non-monetary items measured in terms of historical cost in a foreign currency are not retranslated.

 

Arista (U.K.) Limited

Notes to the Financial Statements for the Year Ended 31 December 2023

Tax

The tax expense for the period comprises current and deferred tax. Tax is recognised in profit or loss, except that a change attributable to an item of income or expense recognised as other comprehensive income is also recognised directly in other comprehensive income.

The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the reporting date in the countries where the company operates and generates taxable income.

Deferred tax is recognised in respect of all timing differences between taxable profits and profits reported in the financial statements.

Unrelieved tax losses and other deferred tax assets are recognised when 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.

Tangible assets

Tangible assets are stated in the balance sheet at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.

The cost of tangible assets includes directly attributable incremental costs incurred in their acquisition and installation.

Depreciation

Depreciation is charged so as to write off the cost of assets, other than land and properties under construction over their estimated useful lives, as follows:

Asset class

Depreciation method and rate

Freehold Buildings

2% straight line

Plant and machinery

25% reducing balance

Motor vehicles

25% reducing balance

Goodwill

Goodwill arising on the acquisition of an entity represents the excess of the cost of acquisition over the company’s interest in the net fair value of the identifiable assets, liabilities and contingent liabilities of the entity recognised at the date of acquisition. Goodwill is initially recognised as an asset at cost and is subsequently measured at cost less accumulated amortisation and accumulated impairment losses. Goodwill is held in the currency of the acquired entity and revalued to the closing rate at each reporting period date. Goodwill is amortised over its useful life, which shall not exceed ten years if a reliable estimate of the useful life cannot be made.

Amortisation

Amortisation is provided on intangible assets so as to write off the cost, less any estimated residual value, over their useful life as follows:

Asset class

Amortisation method and rate

Goodwill

20% Straight Line

 

Arista (U.K.) Limited

Notes to the Financial Statements for the Year Ended 31 December 2023

Cash and cash equivalents

Cash and cash equivalents comprise cash on hand and call deposits, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value.

Trade debtors

Trade debtors are amounts due from customers for merchandise sold or services performed in the ordinary course of business.

Trade debtors are recognised initially at the transaction price. They are subsequently measured at amortised cost using the effective interest method, less provision for impairment. A provision for the impairment of trade debtors is established when there is objective evidence that the company will not be able to collect all amounts due according to the original terms of the receivables.

Stocks

Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell. Cost is determined using the average cost method.

The cost of finished goods comprises direct materials and, where applicable, direct labour costs and those overheads that have been incurred in bringing the inventories to their present location and condition. At each reporting date, stocks are assessed for impairment. If stocks are impaired, the carrying amount is reduced to its selling price less costs to complete and sell; the impairment loss is recognised immediately in profit or loss.

Trade creditors

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Accounts payable are classified as current liabilities if the company does not have an unconditional right, at the end of the reporting period, to defer settlement of the creditor for at least twelve months after the reporting date. If there is an unconditional right to defer settlement for at least twelve months after the reporting date, they are presented as non-current liabilities.

Trade creditors are recognised initially at the transaction price and subsequently measured at amortised cost using the effective interest method.

Share capital

Ordinary shares are classified as equity. Equity instruments are measured at the fair value of the cash or other resources received or receivable, net of the direct costs of issuing the equity instruments. If payment is deferred and the time value of money is material, the initial measurement is on a present value basis.

Defined contribution pension obligation

A defined contribution plan is a pension plan under which fixed contributions are paid into a pension fund and the company has no legal or constructive obligation to pay further contributions even if the fund does not hold sufficient assets to pay all employees the benefits relating to employee service in the current and prior periods.

Contributions to defined contribution plans are recognised as employee benefit expense when they are due. If contribution payments exceed the contribution due for service, the excess is recognised as a prepayment.

 

Arista (U.K.) Limited

Notes to the Financial Statements for the Year Ended 31 December 2023

3

Operating (loss)/profit

Arrived at after charging/(crediting)

2023
 £

2022
 £

Depreciation expense

145,671

176,669

Profit on disposal of property, plant and equipment

-

(14,519)

4

Other interest receivable and similar income

2023
 £

2022
 £

Interest income on bank deposits

188,101

29,085

Other finance income

-

4,500

188,101

33,585

5

Interest payable and similar expenses

2023
 £

2022
 £

Foreign exchange gains/losses

(21,888)

(59,369)

 

Arista (U.K.) Limited

Notes to the Financial Statements for the Year Ended 31 December 2023

6

Staff costs

The aggregate payroll costs (including directors' remuneration) were as follows:

2023
 £

2022
 £

Wages and salaries

4,380,685

2,740,124

Pension costs, defined contribution scheme

12,553

8,810

4,393,238

2,748,934

The average number of persons employed by the company (including directors) during the year, analysed by category was as follows:

2023
No.

2022
No.

Administration and support

5

7

Sales

2

2

Distribution

25

27

32

36

7

Directors' remuneration

The directors' remuneration for the year was as follows:

2023
 £

2022
 £

Remuneration

3,488,718

1,882,248

8

Auditors' remuneration

2023
 £

2022
 £

Audit of the financial statements

9,000

10,000


 

 

Arista (U.K.) Limited

Notes to the Financial Statements for the Year Ended 31 December 2023

9

Taxation

Tax charged/(credited) in the income statement

2023
 £

2022
 £

Current taxation

UK corporation tax

-

200,405

Deferred taxation

Arising from origination and reversal of timing differences

(158,257)

(31,831)

Tax (receipt)/expense in the income statement

(158,257)

168,574

The tax on profit before tax for the year is the same as the standard rate of corporation tax in the UK (2022 - the same as the standard rate of corporation tax in the UK) of 19% (2022 - 19%).

The differences are reconciled below:

2023
 £

2022
 £

(Loss)/profit before tax

(729,998)

808,233

Corporation tax at standard rate

(138,700)

153,564

Effect of expense not deductible in determining taxable profit (tax loss)

(3,713)

15,010

Effect of tax losses

127,800

-

Deferred tax expense (credit) arising from origination and reversal of timing differences

(158,257)

(31,831)

Tax increase (decrease) from effect of capital allowances and depreciation

14,613

31,831

Total tax (credit)/charge

(158,257)

168,574

 

Arista (U.K.) Limited

Notes to the Financial Statements for the Year Ended 31 December 2023

10

Intangible assets

Goodwill
 £

Total
£

Cost or valuation

At 1 January 2023

50,000

50,000

At 31 December 2023

50,000

50,000

Amortisation

At 1 January 2023

49,999

49,999

At 31 December 2023

49,999

49,999

Carrying amount

At 31 December 2023

1

1

At 31 December 2022

1

1

11

Tangible assets

Freehold Land and buildings
£

Furniture, fittings and equipment
 £

Motor vehicles
 £

Total
£

Cost or valuation

At 1 January 2023

2,021,625

911,242

85,912

3,018,779

Additions

-

51,000

-

51,000

At 31 December 2023

2,021,625

962,242

85,912

3,069,779

Depreciation

At 1 January 2023

296,761

551,333

36,385

884,479

Charge for the year

40,433

89,977

15,261

145,671

At 31 December 2023

337,194

641,310

51,646

1,030,150

Carrying amount

At 31 December 2023

1,684,431

320,932

34,266

2,039,629

At 31 December 2022

1,724,864

359,909

49,527

2,134,300

12

Stocks

2023
 £

2022
 £

Other inventories

5,792,474

5,082,216

 

Arista (U.K.) Limited

Notes to the Financial Statements for the Year Ended 31 December 2023

13

Debtors

Current

2023
£

2022
£

Trade debtors

955,689

1,097,134

Other debtors

119,666

447,111

Prepayments

32,937

32,966

 

1,108,292

1,577,211

14

Cash and cash equivalents

2023
 £

2022
 £

Cash at bank

5,777,605

5,328,641

15

Creditors

2023
 £

2022
 £

Due within one year

Trade creditors

22,634

26,692

Social security and other taxes

111,674

429,608

Other payables

30,557

35,435

Accrued expenses

3,694,929

2,042,429

3,859,794

2,534,164

16

Provisions for liabilities

Deferred tax
£

Total
£

At 1 January 2023

234,331

234,331

Increase (decrease) in existing provisions

(158,257)

(158,257)

At 31 December 2023

76,074

76,074

17

Pension and other schemes

Defined contribution pension scheme

The company operates a defined contribution pension scheme. The pension cost charge for the year represents contributions payable by the company to the scheme and amounted to £12,553 (2022 - £8,810).

 

Arista (U.K.) Limited

Notes to the Financial Statements for the Year Ended 31 December 2023

18

Share capital

Allotted, called up and fully paid shares

 

2023

2022

 

No.

£

No.

£

Ordinary of £1 each

30,000

30,000

30,000

30,000

Ordinary B of £1 each

1

1

1

1

Ordinary C of £1 each

1

1

1

1

Ordinary D of £1 each

1

1

1

1

Ordinary E of £1 each

2

2

2

2

Ordinary F of £1 each

1

1

1

1

 

30,006

30,006

30,006

30,006

22 Control

The company is controlled by J S Bank as a trustee.

20

Debentures

Debentures
A debenture was registered with Companies House on February 8th, 2021 relating to the assets of the company. A fixed charge is held over the company's land and buildings, and a floating charge is held over the remainder of their assets.