Arctec Studio Limited 14339481 false 2023-06-01 2024-05-31 2024-05-31 The principal activity of the company is retail. Digita Accounts Production Advanced 6.30.9574.0 true true 14339481 2023-06-01 2024-05-31 14339481 2024-05-31 14339481 core:RetainedEarningsAccumulatedLosses 2024-05-31 14339481 core:ShareCapital 2024-05-31 14339481 core:CurrentFinancialInstruments 2024-05-31 14339481 core:CurrentFinancialInstruments core:WithinOneYear 2024-05-31 14339481 bus:SmallEntities 2023-06-01 2024-05-31 14339481 bus:AuditExemptWithAccountantsReport 2023-06-01 2024-05-31 14339481 bus:FullAccounts 2023-06-01 2024-05-31 14339481 bus:SmallCompaniesRegimeForAccounts 2023-06-01 2024-05-31 14339481 bus:RegisteredOffice 2023-06-01 2024-05-31 14339481 bus:Director1 2023-06-01 2024-05-31 14339481 bus:PrivateLimitedCompanyLtd 2023-06-01 2024-05-31 14339481 countries:EnglandWales 2023-06-01 2024-05-31 14339481 2022-09-06 2023-05-31 14339481 2023-05-31 14339481 core:RetainedEarningsAccumulatedLosses 2023-05-31 14339481 core:ShareCapital 2023-05-31 14339481 core:CurrentFinancialInstruments 2023-05-31 14339481 core:CurrentFinancialInstruments core:WithinOneYear 2023-05-31 iso4217:GBP xbrli:pure

Registration number: 14339481

Arctec Studio Limited

Unaudited Financial Statements

for the Year Ended 31 May 2024

 

Arctec Studio Limited

Contents

Balance Sheet

1

Notes to the Unaudited Financial Statements

2 to 4

 

Arctec Studio Limited

(Registration number: 14339481)
Balance Sheet as at 31 May 2024

Note

2024
£

2023
£

Current assets

 

Debtors

4

100

174

Cash at bank and in hand

 

-

39

 

100

213

Creditors: Amounts falling due within one year

5

(160)

(2,968)

Net liabilities

 

(60)

(2,755)

Capital and reserves

 

Called up share capital

100

100

Retained earnings

(160)

(2,855)

Shareholders' deficit

 

(60)

(2,755)

For the financial year ending 31 May 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 accounts for the year in question in accordance with section 476; and

The director acknowledges his 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 director has not delivered to the registrar a copy of the Profit and Loss Account.

Approved and authorised by the director on 22 October 2024
 

.........................................
Mr T M Buckley
Director

 

Arctec Studio Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 May 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:
Suite 14
Ground Floor
Edwin Foden Business Centre
Sandbach
CW11 3AE

2

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.

Going concern

The financial statements have been prepared on a going concern basis. The company meets its day to day working capital requirements through funds provided by the directors. The directors consider that these facilities will continue to be made available to the company. On this basis, the directors consider it appropriate to prepare the financial statements on the going concern basis. The financial statements do not include any adjustments which would result if the going concern basis were not appropriate.

 

Arctec Studio Limited

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

Judgements

In the application of the company's accounting policies, the directors are required to make judgements, estimates and assumptions about the carrying amount of assets and liabilities that are not readily apparent from other sources. The estimates and associated assumptions are based on historical experience and other factors that are considered to be relevant. Actual results may differ from these estimates.

The estimates and underlying assumptions are reviewed on an ongoing basis. Revisions to accounting estimates are recognised in the period in which the estimate is revised where revision affects only that period, or in the period of revision and future periods where the revision affects both current and future periods.

Revenue recognition

Turnover comprises the fair value of the consideration received or receivable for the sale of goods and provision of services in the ordinary course of the company’s activities. Turnover is shown net of sales/value added tax, returns, rebates and discounts.

The company recognises revenue when:
The amount of revenue 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.

Borrowings

Interest-bearing borrowings are initially recorded at fair value, net of transaction costs. Interest-bearing borrowings are subsequently carried at amortised cost, with the difference between the proceeds, net of transaction costs, and the amount due on redemption being recognised as a charge to the profit and loss account over the period of the relevant borrowing.

Interest expense is recognised on the basis of the effective interest method and is included in interest payable and similar charges.

Borrowings are classified as current liabilities unless the company has an unconditional right to defer settlement of the liability for at least twelve months after the reporting date.

3

Staff numbers

The average number of persons employed by the company (including the director) during the year, was 1 (2023 - 1).

4

Debtors

Current

2024
£

2023
£

Other debtors

100

174

 

Arctec Studio Limited

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

5

Creditors

Creditors: amounts falling due within one year

Note

2024
£

2023
£

Due within one year

 

Loans and borrowings

6

79

-

Accruals and deferred income

 

81

328

Owed by/(from) group undertakings

 

-

2,640

 

160

2,968

2024
£

2023
£

Current loans and borrowings

Bank overdrafts

79

-

6

Loans and borrowings

2024
£

2023
£

Current loans and borrowings

Bank overdrafts

79

-