Registration number:
ARCA (Plymouth) Limited
(A company limited by guarantee)
for the Year Ended 31 March 2024
ARCA (Plymouth) Limited
Contents
Statement of Financial Position |
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Notes to the Financial Statements |
ARCA (Plymouth) Limited
(Registration number: 12187662)
Statement of Financial Position as at 31 March 2024
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2023 |
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Fixed assets |
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Tangible assets |
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Current assets |
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Stocks |
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Debtors |
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Cash at bank and in hand |
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Creditors: Amounts falling due within one year |
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Net current liabilities |
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Net assets/(liabilities) |
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Reserves |
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Surplus/(deficit) |
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These financial statements have been prepared in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006.
These financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime. As permitted by section 444 (5A) of the Companies Act 2006, the directors have not delivered to the registrar a copy of the Statement of Comprehensive Income.
Approved and authorised by the
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ARCA (Plymouth) Limited
Notes to the Financial Statements for the Year Ended 31 March 2024
General information |
The company is a company limited by guarantee, incorporated in England and Wales, and consequently does not have share capital. Each of the members is liable to contribute an amount not exceeding £Nil towards the assets of the company in the event of liquidation.
The address of its registered office is:
Principal activity
The principal activity of the company is that of museums activities.
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 have been prepared in accordance with Financial Reporting Standard 102 Section 1A smaller entities - 'The Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland' and the Companies Act 2006 (as applicable to companies subject to the small companies' regime).
Basis of preparation
These financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.
The financial statements are prepared in sterling which is the functional currency of the entity.
Going concern
The financial statements have been prepared on a going concern basis.
ARCA (Plymouth) Limited
Notes to the Financial Statements for the Year Ended 31 March 2024 (continued)
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Accounting policies (continued) |
Audit report
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Judgements and key sources of estimation uncertainty
The preparation of the financial statements requires management to make judgements, estimates and assumptions that affect the amounts reported. These estimates and judgements are continually reviewed and are based on experience and other factors, including expectations of future events that are believed to be reasonable under the circumstances. |
Accounting estimates and assumptions are made concerning the future and, by their nature, will rarely equal the related actual outcome. |
Revenue recognition
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.
Admission fees and shop income are recognised at the point of sale, being the delivery of goods and services to customers.
Ticket sales, Informal learning and Provision of facilities and services are recognised at the point of sale as they are all non refundable once purchased.
Sponsorship income is recognised on the earlier of date of agreement or receipt of income as this is non refundable once received.
Membership income is recognised evenly over the period of membership.
Grant income is recognised on the accruals basis.
Government grant income is recognised at fair value of the grant received or receivable.
Tangible assets
Tangible assets are stated in the statement of financial position 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:
ARCA (Plymouth) Limited
Notes to the Financial Statements for the Year Ended 31 March 2024 (continued)
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Accounting policies (continued) |
Asset class |
Depreciation method and rate |
Fixtures and Fittings |
20% reducing balance |
Computer Equipment |
3 years straight line |
Stocks
Stocks are measured at the lower of cost and estimated selling price less costs to complete and sell. Costs include all costs of purchase, costs of conversion and other costs incurred in bringing the stocks 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.
Leases
Rentals paid under operating leases are charged to surplus or deficit on a straight line basis over the period of the lease.
Multi employer plans
Grants paid are recognised at the point where the recipient of the grant is entitled to the funds, which have been agreed by the board.
Financial instruments
Recognition and measurement
Basic financial instruments are initially recognised at the transaction price, unless the arrangement constitutes a financing transaction, where it is recognised at the present value of the future payments discounted at a market rate of interest for a similar debt instrument.
Staff numbers |
The average number of persons employed by the company (including directors) during the year, was
ARCA (Plymouth) Limited
Notes to the Financial Statements for the Year Ended 31 March 2024 (continued)
Tangible assets |
Fixtures and fittings |
Computer equipment |
Total |
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Cost or valuation |
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At 1 April 2023 |
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Additions |
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At 31 March 2024 |
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Depreciation |
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At 1 April 2023 |
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Charge for the year |
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At 31 March 2024 |
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Carrying amount |
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At 31 March 2024 |
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At 31 March 2023 |
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Stocks |
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2023 |
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Finished goods and goods for resale |
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Debtors |
2024 |
2023 |
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Trade debtors |
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Other debtors |
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Prepayments |
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ARCA (Plymouth) Limited
Notes to the Financial Statements for the Year Ended 31 March 2024 (continued)
Creditors |
Creditors: amounts falling due within one year
2024 |
2023 |
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Due within one year |
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Trade creditors |
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Taxation and social security |
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Other creditors |
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Parent and ultimate parent undertaking |
The ultimate controlling party is