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Registration number: 03903860

Arcwhiz 2000 Limited

Unaudited Filleted Financial Statements

for the Year Ended 31 January 2024

image-name
 

Arcwhiz 2000 Limited

Contents

Company Information

1

Balance Sheet

2 to 3

Notes to the Unaudited Financial Statements

4 to 8

 

Arcwhiz 2000 Limited

Company Information

Directors

Mr Robert Pattinson

Mr Stevie-Lee Pattinson

Registered office

Lion House
400 Durham Road
Birtley
Co Durham
DH3 1LS

Accountants

Chuhan and Singh Partnership Limited
Chartered Accountants
81 Borough Road
Middlesbrough
TS1 3AA

 

Arcwhiz 2000 Limited

(Registration number: 03903860)
Balance Sheet as at 31 January 2024

Note

2024
£

2023
£

Fixed assets

 

Tangible assets

4

643,216

654,483

Current assets

 

Stocks

11,910

9,841

Debtors

5

1,173,641

1,227,671

Cash at bank and in hand

 

704,723

813,731

 

1,890,274

2,051,243

Creditors: Amounts falling due within one year

6

(521,034)

(143,608)

Net current assets

 

1,369,240

1,907,635

Total assets less current liabilities

 

2,012,456

2,562,118

Creditors: Amounts falling due after more than one year

6

(16,011)

(27,079)

Provisions for liabilities

(8,211)

(10,682)

Net assets

 

1,988,234

2,524,357

Capital and reserves

 

Called up share capital

1,068,572

1,240,000

Share premium reserve

1,121,430

1,550,000

Revaluation reserve

188,000

188,000

Retained earnings

(389,768)

(453,643)

Shareholders' funds

 

1,988,234

2,524,357

 

Arcwhiz 2000 Limited

(Registration number: 03903860)
Balance Sheet as at 31 January 2024 (continued)

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

Directors' responsibilities:

The member has not required the company to obtain an audit of its accounts for the year in question in accordance with section 476; and

The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

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 Profit and Loss Account.

Approved and authorised by the Board on 9 October 2024 and signed on its behalf by:
 

.........................................
Mr Stevie-Lee Pattinson
Director

 

Arcwhiz 2000 Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 January 2024

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:
Lion House
400 Durham Road
Birtley
Co Durham
DH3 1LS

These financial statements were authorised for issue by the Board on 9 October 2024.

2

Accounting policies

Statement of compliance

These financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with Section 1A of FRS 102 'The Financial Reporting Standard applicable to the UK and the Republic of Ireland'.

Basis of preparation

These financial statements have been prepared on the historical cost basis, as modified by the revaluation of certain financial assets and liabilities and investment properties measured at fair value through profit and loss.

The financial statements are prepared in sterling, which is the functional currency of the entity.

Revenue recognition

Turnover represents licensed bar and restaurant income, excluding value added tax.

 

Arcwhiz 2000 Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 January 2024 (continued)

2

Accounting policies (continued)

Tangible assets

Tangible assets are initially recorded at cost, and subsequently stated at cost less any accumulated depreciation and impairment losses. Any tangible assets carried at revalued amounts are recorded at the fair value at the date of revaluation less any subsequent accumulated depreciation and subsequent accumulated impairment losses.

An increase in the carrying amount of an asset as a result of revaluation, is recognised in other comprehensive income and accumulated in equity, except to the extent it reverses a revaluation decrease of the same asset previously recognise in profit or loss. A decrease in the carrying amount of an asset as a revaluation, is recognised in other comprehensive income to the extent of any previously recognised revaluation increase accumulated in equity in respect of that asset. Where a revaluation decrease exceeds the accumulated revaluation gains accumulated in equity in respect of that asset, the excess shall be recognised in profit or loss.

Depreciation

Depreciation is calculated so as to write off the cost or valuation of an asset, less its residual value, over the useful economic life of that asset. The directors consider that the net realisable value for land and buildings is not materially different from the costs of those assets, consequently the depreciation rate for this category of assets is nil. Depreciation rates for other categories of assets are as follows;

Asset class

Depreciation method and rate

Fixtures and fittings

20% reducing balance

Motor vehicles

25% reducing balance

Computer equipment

20% straight line

Stocks

Stocks are measured at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.

3

Staff numbers

The average number of persons employed by the company during the year, amounted to 26 (2023 - 27).

 

Arcwhiz 2000 Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 January 2024 (continued)

4

Tangible assets

Land and buildings
£

Fixtures and fittings
£

Office equipment
£

Motor vehicles
 £

Total
£

Cost or valuation

At 1 February 2023

600,000

118,916

9,040

10,491

738,447

Additions

-

5,439

-

-

5,439

Disposals

-

(27,200)

(4,861)

-

(32,061)

At 31 January 2024

600,000

97,155

4,179

10,491

711,825

Depreciation

At 1 February 2023

-

74,000

5,738

4,226

83,964

Charge for the year

-

8,102

837

1,566

10,505

Eliminated on disposal

-

(21,001)

(4,859)

-

(25,860)

At 31 January 2024

-

61,101

1,716

5,792

68,609

Carrying amount

At 31 January 2024

600,000

36,054

2,463

4,699

643,216

At 31 January 2023

600,000

44,916

3,302

6,265

654,483

Revaluation
The fair value of the company's land and buildings was revalued on 31st January 2022. The directors have revalued the building to £600,000, which is the original cost.

The directors consider the carrying value of this property to be equal to its current market value which is not materially different to cost.

5

Debtors

Current

Note

2024
£

2023
£

Amounts owed by related parties

8

1,160,000

1,160,000

Prepayments

 

13,641

12,347

Other debtors

 

-

55,324

   

1,173,641

1,227,671

 

Arcwhiz 2000 Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 January 2024 (continued)

6

Creditors

Creditors: amounts falling due within one year

Note

2024
£

2023
£

Due within one year

 

Loans and borrowings

11,912

11,912

Trade creditors

 

90,210

43,408

Taxation and social security

 

108,292

74,702

Accruals and deferred income

 

17,895

10,099

Other creditors

 

292,725

3,487

 

521,034

143,608

Creditors: amounts falling due after more than one year

Note

2024
£

2023
£

Due after one year

 

Loans and borrowings

16,011

27,079

7

Reserves

The changes to each component of equity resulting from items of other comprehensive income for the prior year were as follows:

Revaluation reserve
£

Total
£

Property revaluation

188,000

188,000

 

Arcwhiz 2000 Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 January 2024 (continued)

8

Related party transactions

Included in debtors is £1,160,000 (2023: £1,160,000) owed by companies in which the directors, or their close family members, have an interest.

Included in creditors due within one year is £292,725 (2023: £3,487) owed to the company directors and their close family members.

During the year the company bought back 171,428 of £1 ordinary shares from Mr Pattinson, a shareholder and director, for £600,000. As a consequence of this transaction the Called Up Share Capital has been reduced by £171,428 and the Share Premium Reserve has decreased by £428,570.