Company registration number 04628091 (England and Wales)
ARCTIC ASSOCIATES LIMITED
UNAUDITED FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JANUARY 2024
PAGES FOR FILING WITH REGISTRAR
ARCTIC ASSOCIATES LIMITED
BALANCE SHEET
AS AT
31 JANUARY 2024
31 January 2024
- 1 -
2024
2023
£
£
£
£
Fixed assets
16,583
21,344
Current assets
20,588
41,719
Prepayments and accrued income
6,411
5,696
Creditors: amounts falling due within one year
(32,666)
(8,525)
Net current (liabilities)/assets
(5,667)
38,890
Total assets less current liabilities
10,916
60,234
Creditors: amounts falling due after more than one year
(14,609)
(26,435)
Accruals and deferred income
(1,008)
(3,333)
Net (liabilities)/assets
(4,701)
30,466
Capital and reserves
(4,701)
30,466
Notes to the financial statements
1
Directors' benefits: advances, credit and guarantees

At 31 January 2024, included within current assets is £365 (2023 - £28,517) owed to the company by the directors. During the year there were advances of £24,925 (2023 - £30,765), repayments of £53,472 (2023 - £7,777) and interest charged on the loan of £395 (2023 - £333) at HMRC’s official rate of interest of 2.25%. The loan was repaid by the directors after the year-end and by the date of signing the accounts.

2
Employees

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

2024
2023
Number
Number
Employees
6
6
3
Going Concern

At 31 January 2024, the company had net liabilities of £4,701 (2023 – net assets of £30,466). At the time of approving the financial statements, the directors had a reasonable expectation that the company has adequate resources to continue in operational existence for the foreseeable future. The directors have therefore continued to adopt the going concern basis of accounting in preparing the financial statements.

Arctic Associates Limited is a private company limited by shares incorporated in England and Wales. The registered office is 33 Queen Street, Morley, Leeds, LS27 8EE.

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

ARCTIC ASSOCIATES LIMITED
BALANCE SHEET (CONTINUED)
AS AT
31 JANUARY 2024
31 January 2024
- 2 -

The directors acknowledge their 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 in accordance with the micro-entity provisions and in accordance with FRS 105 'The Financial Reporting Standard applicable to the Micro-entities Regime' and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

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

The financial statements were approved by the board of directors and authorised for issue on 25 September 2024 and are signed on its behalf by:
R C Trudgen
Director
Company registration number 04628091 (England and Wales)
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