1 March 2023 v2024.44.1 limited_company_frs_102_section_1a_v1_1_2 companies_houseSoftwarefalsetruetruetrueNo description of principal activityfalsetruexbrli:purexbrli:sharesiso4217:GBP132018792023-03-012024-02-28132018792024-02-28132018792023-02-2813201879core:WithinOneYear2024-02-2813201879core:WithinOneYear2023-02-2813201879core:ShareCapital2024-02-2813201879core:ShareCapital2023-02-2813201879core:RetainedEarningsAccumulatedLosses2024-02-2813201879core:RetainedEarningsAccumulatedLosses2023-02-2813201879bus:Director12023-03-012024-02-2813201879bus:RegisteredOffice2023-03-012024-02-28132018792022-03-012023-02-281320187912023-03-012024-02-2813201879countries:EnglandWales2023-03-012024-02-2813201879bus:AuditExemptWithAccountantsReport2023-03-012024-02-2813201879bus:PrivateLimitedCompanyLtd2023-03-012024-02-2813201879bus:SmallEntities2023-03-012024-02-2813201879bus:FullAccounts2023-03-012024-02-28
Company registration number:
13201879
Arc Living Ltd
Unaudited Filleted Financial Statements for the year ended
28 February 2024
Arc Living Ltd
Statement of Financial Position
28 February 2024
20242023
Note££
Current assets    
Debtors 5
12,783
 
12,783
 
Cash at bank and in hand
815
 
3,393
 
13,598
 
16,176
 
Creditors: amounts falling due within one year 6
(14,426
)
(14,697
)
Net current (liabilities)/assets
(828
)
1,479
 
Total assets less current liabilities (828 ) 1,479  
Capital and reserves    
Called up share capital
1
 
1
 
Profit and loss account
(829
)
1,478
 
Shareholders (deficit)/funds
(828
)
1,479
 
For the year ending
28 February 2024
, 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 their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements.
These
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 income statement has not been delivered.
These
financial statements
were approved by the board of directors and authorised for issue on
1 October 2024
, and are signed on behalf of the board by:
Hafiz Muhammad Imran
Director
Company registration number:
13201879
Arc Living Ltd
Notes to the Financial Statements
Year ended
28 February 2024

1 General information

The company is a private company limited by shares and is registered in England and Wales. The address of the registered office is
37 Ratcliffe Street
,
Manchester
,
Greater Manchester
,
M19 3GF
, United Kingdom. The company is engaged in retail sale via mail order houses or via Internet.

2 Statement of compliance

These
financial statements
have been prepared in compliance with FRS 102 Section 1A, 'The Financial Reporting Standard applicable to the UK and 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 assets.
The
financial statements
are prepared in sterling, which is the functional currency of the company.

Turnover

Turnover is measured at the fair value of the consideration received or receivable for goods supplied, net of discounts and Value Added Tax.
Revenue from the sale of goods is recognised when the significant risks and rewards of ownership have transferred to the buyer, usually on despatch of the goods; the amount of revenue can be measured reliably; it is probable that the associated economic benefits will flow to the entity; and the costs incurred or to be incurred in respect of the transactions can be measured reliably.

Current tax

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.

4 Average number of employees

The average number of persons employed by the company during the year was
1
(2023:
1.00
).

5 Debtors

20242023
££
Trade debtors
12,783
 
12,783
 

6 Creditors: amounts falling due within one year

20242023
££
Taxation and social security -  
347
 
Other creditors
14,426
 
14,350
 
14,426
 
14,697
 
Other creditors include loan from director, Hafiz Muhammad IMRAN, amounting to £13,358 (2023: £13,282).