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Registered Number: 04636020
England and Wales

 

 

 


Unaudited Financial Statements

for the year ended 31 March 2024

for

ARC METALCRAFT LTD

Directors Mr P A K Bettey
Mrs D M Bettey
Registered Number 04636020
Registered Office Parkwood Close
Broadley Industrial Park
Plymouth
Devon
PL6 7SG
Accountants H M Williams Chartered Certified Accountants
5 Sandy Court
Ashleigh Way
Plymouth
PL7 5JX
Secretary Mrs D M Bettey
1
Director's report and financial statements
The directors present their annual report and the financial statements for the year ended 31 March 2024.
Principal activities
The principal activity of the company in the year under review was that of steel fabrication and ornamental ironwork.
Directors
The directors who have held office during the whole of the year were as follows:
Mr P A K Bettey
Mrs D M Bettey
Statement of directors' responsibilities
The directors are responsible for preparing the directors’ report and the financial statements in accordance with applicable law and regulation.

Company law requires the directors to prepare financial statements for each financial year. Under that law the directors have elected to prepare the financial statements in accordance with United Kingdom Generally Accepted Accounting Practice (United Kingdom Accounting Standards and applicable law). Under company law the directors must not approve the financial statements unless they are satisfied that they give a true and fair view of the state of affairs of the company and of the profit or loss of the company for that period. In preparing these financial statements, the directors are required to
  • select suitable accounting policies and then apply them consistently
  • make judgments and accounting estimates that are reasonable and prudent
  • prepare the financial statements on the going concern basis unless it is inappropriate to presume that the company will continue in business


The directors are responsible for keeping adequate accounting records that disclose with reasonable accuracy at any time the financial position of the company and enable them to ensure that the financial statements comply with the Companies Act 2006. The directors are also responsible for safeguarding the assets of the company and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.

The directors are responsible for the maintenance and integrity of the corporate and financial information included on the company's website. Legislation in the United Kingdom governing the preparation and dissemination of financial statements may differ from legislation in other jurisdictions.

This report was approved by the board and signed on its behalf by:


----------------------------------
Mrs D M Bettey
Director

Date approved: 25 October 2024
2
 
 
Notes
 
2024
£
  2023
£
Fixed assets      
Intangible fixed assets 3 6,000    12,000 
Tangible fixed assets 4 155,182    169,900 
Investments 5 60    60 
161,242    181,960 
Current assets      
Stocks 6 63,104    60,045 
Debtors 7 391,305    460,883 
Cash at bank and in hand 1,110,495    949,447 
1,564,904    1,470,375 
Creditors: amount falling due within one year 8 (346,415)   (358,554)
Net current assets 1,218,489    1,111,821 
 
Total assets less current liabilities 1,379,731    1,293,781 
Provisions for liabilities 9 (27,334)   (32,281)
Net assets 1,352,397    1,261,500 
 

Capital and reserves
     
Called up share capital 5    5 
Profit and loss account 1,352,392    1,261,495 
Shareholders' funds 1,352,397    1,261,500 
 


For the 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.

Directors' responsibilities:
  1. The members have not required the company to obtain an audit of its accounts for the year in question in accordance with section 476.
  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 accounts.
These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime. In accordance with Section 444 of the Companies Act 2006, the income statement has not been delivered to the Registrar of Companies.
The financial statements were approved by the board of directors on 25 October 2024 and were signed on its behalf by:


-------------------------------
Mrs D M Bettey
Director
3
General Information
Arc Metalcraft Ltd is a private company, limited by shares, registered in England and Wales, registration number 04636020, registration address Parkwood Close, Broadley Industrial Park, Plymouth, Devon, PL6 7SG.

The presentation currency is £ sterling.
1.

Accounting policies

Significant accounting policies
The accounts have been prepared under the historical cost convention and in accordance with FRS 102, the Financial Reporting Standard applicable in the UK and Republic of Ireland (as applied to small entities by Section 1A of the standard)
Turnover
Turnover comprises the invoiced value of goods and services supplied by the company, net of Value Added Tax and trade discounts.
Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Income Statement, except to the extent that it relates to items recognised in other comprehensive income or directly in equity.

Current or deferred taxation assets and liabilities are not discounted.

Current tax is recognised at the amount of tax payable using the tax rates and laws that have been enacted or substantively enacted by the balance sheet date.
Deferred taxation
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date.

Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from those in which they are recognised in financial statements. Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the year end and that are expected to apply to the reversal of the timing difference.

Unrelieved tax losses and other deferred tax assets are recognised only to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits.
Intangible assets
Intangible assets are initially measured at cost.  After initial recognition, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses.
Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Plant and Machinery 25% Reducing Balance
Motor Vehicles 25% Reducing Balance
Fixtures and Fittings 25% Reducing Balance
Computer Equipment 3 years Straight Line
Stocks
Stocks are valued at the lower of cost and net realisable value after making due allowance for obsolete and slow moving items.
Pension costs and other post-retirement benefits..
The company operates a defined contribution pension scheme. The contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate.
2.

Average number of employees

Average number of employees during the year was 35 (2023 : 37).
3.

Intangible fixed assets

Cost Goodwill   Total
  £   £
At 01 April 2023 60,000    60,000 
Additions  
Disposals  
At 31 March 2024 60,000    60,000 
Amortisation
At 01 April 2023 48,000    48,000 
Charge for year 6,000    6,000 
On disposals  
At 31 March 2024 54,000    54,000 
Net book values
At 31 March 2024 6,000    6,000 
At 31 March 2023 12,000    12,000 


4.

Tangible fixed assets

Cost or valuation Plant and Machinery   Motor Vehicles   Fixtures and Fittings   Computer Equipment   Total
  £   £   £   £   £
At 01 April 2023 269,235    292,138    11,648    5,909    578,930 
Additions 40,903          40,903 
Disposals   (17,995)       (17,995)
At 31 March 2024 310,138    274,143    11,648    5,909    601,838 
Depreciation
At 01 April 2023 226,933    166,566    9,963    4,896    408,358 
Charge for year 20,801    30,325    421    475    52,022 
On disposals   (13,724)       (13,724)
At 31 March 2024 247,734    183,167    10,384    5,371    446,656 
Net book values
Closing balance as at 31 March 2024 62,404    90,976    1,264    538    155,182 
Opening balance as at 01 April 2023 42,302    125,572    1,685    341    169,900 


5.

Investments

Cost Other investments other than loans   Total
  £   £
At 01 April 2023 60    60 
Additions  
Transfer to/from tangible fixed assets  
Disposals  
At 31 March 2024 60    60 

6.

Stocks

2024
£
  2023
£
Work in Progress 53,104    50,045 
Stocks 10,000    10,000 
63,104    60,045 

7.

Debtors: amounts falling due within one year

2024
£
  2023
£
Trade Debtors 383,079    457,910 
Other Debtors 8,226    2,973 
391,305    460,883 

8.

Creditors: amount falling due within one year

2024
£
  2023
£
Trade Creditors 168,761    211,934 
Taxation and Social Security 113,778    97,791 
Other Creditors 63,876    48,829 
346,415    358,554 

9.

Provisions for liabilities

2024
£
  2023
£
Deferred Tax 27,334    32,281 
27,334    32,281 

10.

Ultimate Controlling Party

During the year the company was under the control of its directors by virtue of their equal shareholdings in the company.
4