Company registration number 10659256 (England and Wales)
ARCSPIRE LIMITED
UNAUDITED FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024
PAGES FOR FILING WITH REGISTRAR
ARCSPIRE LIMITED
CONTENTS
Page
Balance sheet
1
Notes to the financial statements
2 - 5
ARCSPIRE LIMITED
BALANCE SHEET
AS AT
31 MARCH 2024
31 March 2024
- 1 -
2024
2023
Notes
£
£
£
£
Fixed assets
Tangible assets
3
4,325
2,854
Investments
4
50,000
50,000
54,325
52,854
Current assets
Debtors
5
613,159
750,070
Cash at bank and in hand
404,908
213,593
1,018,067
963,663
Creditors: amounts falling due within one year
6
(239,433)
(72,224)
Net current assets
778,634
891,439
Net assets
832,959
944,293
Capital and reserves
Called up share capital
7
2
2
Share premium account
799,999
799,999
Profit and loss reserves
32,958
144,292
Total equity
832,959
944,293

The director of the company has elected not to include a copy of the profit and loss account within the financial statements.true

For the financial year ended 31 March 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

The director acknowledges his responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.

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.

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

The financial statements were approved by the board of directors and authorised for issue on 13 September 2024 and are signed on its behalf by:
M G Jolly
Director
Company Registration No. 10659256
ARCSPIRE LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024
- 2 -
1
Accounting policies
Company information

Arcspire Limited is a private company limited by shares incorporated in England and Wales. The registered office is 32 Blackfriars Road, London, United Kingdom, SE1 8PB. The principal place of business is 70 Colombo Street, London, United Kingdom, SE1 8EE.

1.1
Accounting convention

These financial statements have been prepared in accordance with FRS 102 “The Financial Reporting Standard applicable in the UK and Republic of Ireland” (“FRS 102”) and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime. The disclosure requirements of section 1A of FRS 102 have been applied other than where additional disclosure is required to show a true and fair view.

The financial statements are prepared in sterling, which is the functional currency of the company. Monetary amounts in these financial statements are rounded to the nearest £.

The financial statements have been prepared under the historical cost convention. The principal accounting policies adopted are set out below.

The company has taken advantage of the exemption under section 399 of the Companies Act 2006 not to prepare consolidated accounts, on the basis that the group of which this is the parent qualifies as a small group. The financial statements present information about the company as an individual entity and not about its group.

1.2
Going concern

The director has paid particular attention to the likely effects on the business of the current economic uncertainty and inflationary pressures and he remains confident that sufficient funding is in place and that the company has adequate resources to enable the company to continue as a going concern for the foreseeable future.

1.3
Turnover

Turnover is recognised at the fair value of the consideration received or receivable for goods and services provided in the normal course of business, and is shown net of VAT and other sales related taxes. The fair value of consideration takes into account trade discounts, settlement discounts and volume rebates.

The company recognises turnover when the amount of turnover 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.

1.4
Research and development expenditure

Research and development expenditure is written off against profits in the year in which it is incurred.

1.5
Tangible fixed assets

Tangible fixed assets are initially measured at cost and subsequently measured at cost or valuation, net of depreciation and any impairment losses.

Depreciation is recognised so as to write off the cost or valuation of assets less their residual values over their useful lives on the following bases:

Computers
33% straight line

The gain or loss arising on the disposal of an asset is determined as the difference between the sale proceeds and the carrying value of the asset, and is credited or charged to profit or loss.

ARCSPIRE LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2024
1
Accounting policies
(Continued)
- 3 -
1.6
Fixed asset investments

Interests in subsidiaries, associates and jointly controlled entities are initially measured at cost and subsequently measured at cost less any accumulated impairment losses. The investments are assessed for impairment at each reporting date and any impairment losses or reversals of impairment losses are recognised immediately in profit or loss.

A subsidiary is an entity controlled by the company. Control is the power to govern the financial and operating policies of the entity so as to obtain benefits from its activities.

An associate is an entity, being neither a subsidiary nor a joint venture, in which the company holds a long-term interest and where the company has significant influence. The company considers that it has significant influence where it has the power to participate in the financial and operating decisions of the associate.

Entities in which the company has a long term interest and shares control under a contractual arrangement are classified as jointly controlled entities.

1.7
Cash and cash equivalents

Cash and cash equivalents are basic financial assets and include cash in hand, deposits held at call with banks, other short-term liquid investments with original maturities of three months or less, and bank overdrafts. Bank overdrafts are shown within borrowings in current liabilities.

1.8
Leases

Leases in which substantially all the risks and rewards of ownership are retained by the lessor are classified as operating leases. Payments made under operating leases are charged to profit or loss on a straight-line basis over the period of the lease.

1.9
Foreign exchange

Transactions in currencies other than pounds sterling are recorded at the rates of exchange prevailing at the dates of the transactions. At each reporting end date, monetary assets and liabilities that are denominated in foreign currencies are retranslated at the rates prevailing on the reporting end date. Gains and losses arising on translation in the period are included in profit or loss.

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

2
Employees

The average monthly number of persons (including directors) employed by the company during the year was:

2024
2023
Number
Number
Total
2
2
ARCSPIRE LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2024
- 4 -
3
Tangible fixed assets
Computers
£
Cost
At 1 April 2023
9,038
Additions
4,341
At 31 March 2024
13,379
Depreciation and impairment
At 1 April 2023
6,184
Depreciation charged in the year
2,870
At 31 March 2024
9,054
Carrying amount
At 31 March 2024
4,325
At 31 March 2023
2,854
4
Fixed asset investments
2024
2023
£
£
Shares in subsidiary undertakings
50,000
50,000
5
Debtors
2024
2023
Amounts falling due within one year:
£
£
Trade debtors
1,800
-
0
Corporation tax recoverable
-
0
23,734
Other debtors
2,005
33,897
Prepayments and accrued income
609,354
692,439
613,159
750,070
6
Creditors: amounts falling due within one year
2024
2023
£
£
Taxation and social security
10,294
5,913
Other creditors
26,211
2,247
Accruals and deferred income
202,928
64,064
239,433
72,224
ARCSPIRE LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2024
- 5 -
7
Called up share capital
2024
2023
2024
2023
Ordinary share capital
Number
Number
£
£
Issued and fully paid
Ordinary of 0.1001558p each
2,566
2,566
2
2
8
Related party transactions
2024
2023
Amounts due to related parties
£
£
Key management personnel
26
276

The amount due is a loan balance that has no formal terms, is unsecured, interest free and repayable on demand.

2024-03-312023-04-01false13 September 2024CCH SoftwareCCH Accounts Production 2024.210No description of principal activityM CowardM G Jollyfalsefalse106592562023-04-012024-03-31106592562024-03-31106592562023-03-3110659256core:ComputerEquipment2024-03-3110659256core:ComputerEquipment2023-03-3110659256core:CurrentFinancialInstrumentscore:WithinOneYear2024-03-3110659256core:CurrentFinancialInstrumentscore:WithinOneYear2023-03-3110659256core:CurrentFinancialInstruments2024-03-3110659256core:CurrentFinancialInstruments2023-03-3110659256core:ShareCapital2024-03-3110659256core:ShareCapital2023-03-3110659256core:SharePremium2024-03-3110659256core:SharePremium2023-03-3110659256core:RetainedEarningsAccumulatedLosses2024-03-3110659256core:RetainedEarningsAccumulatedLosses2023-03-3110659256bus:Director22023-04-012024-03-3110659256core:ComputerEquipment2023-04-012024-03-31106592562022-04-012023-03-3110659256core:ComputerEquipment2023-03-3110659256bus:PrivateLimitedCompanyLtd2023-04-012024-03-3110659256bus:SmallCompaniesRegimeForAccounts2023-04-012024-03-3110659256bus:FRS1022023-04-012024-03-3110659256bus:AuditExemptWithAccountantsReport2023-04-012024-03-3110659256bus:Director12023-04-012024-03-3110659256bus:FullAccounts2023-04-012024-03-31xbrli:purexbrli:sharesiso4217:GBP