Registered number
07958917
Arbcore Limited
Filleted Accounts
29 February 2024
Arbcore Limited
Registered number: 07958917
Balance Sheet
as at 29 February 2024
Notes 2024 2023
£ £
Fixed assets
Intangible assets 3 4,240 4,770
Tangible assets 4 97,164 141,811
101,404 146,581
Current assets
Debtors 5 65,523 60,375
Cash at bank and in hand 114,904 64,057
180,427 124,432
Creditors: amounts falling due within one year 6 (73,313) (59,121)
Net current assets 107,114 65,311
Total assets less current liabilities 208,518 211,892
Creditors: amounts falling due after more than one year 7 (16,819) (30,456)
Net assets 191,699 181,436
Capital and reserves
Called up share capital 100 100
Profit and loss account 191,599 181,336
Shareholders' funds 191,699 181,436
The director is satisfied that the company is entitled to exemption from the requirement to obtain an audit under section 477 of the Companies Act 2006.
The members have not required the company to obtain an audit in accordance with section 476 of the Act.
The director acknowledges his responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts.
The accounts have been prepared and delivered in accordance with the special provisions applicable to companies subject to the small companies regime. The profit and loss account has not been delivered to the Registrar of Companies.
Mr Tristan Merry-Howe
Director
Approved by the board on 23 November 2024
Arbcore Limited
Notes to the Accounts
for the year ended 29 February 2024
1 Accounting policies
Basis of preparation
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 is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover includes revenue earned from the sale of goods and from the rendering of services. Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods have transferred to the buyer. Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs.
Intangible fixed assets
Intangible fixed assets are measured at cost less accumulative amortisation and any accumulative impairment losses.
Tangible fixed assets
Tangible fixed assets are measured at cost less accumulative depreciation and any accumulative impairment losses. Depreciation is provided on all tangible fixed assets, other than freehold land, at rates calculated to write off the cost, less estimated residual value, of each asset evenly over its expected useful life, as follows:
Plant and machinery over 5 years
Motor vehicles over 5 years
Debtors
Short term debtors are measured at transaction price (which is usually the invoice price), less any impairment losses for bad and doubtful debts. Loans and other financial assets are initially recognised at transaction price including any transaction costs and subsequently measured at amortised cost determined using the effective interest method, less any impairment losses for bad and doubtful debts.
Creditors
Short term creditors are measured at transaction price (which is usually the invoice price). Loans and other financial liabilities are initially recognised at transaction price net of any transaction costs and subsequently measured at amortised cost determined using the effective interest method.
Taxation
A current tax liability is recognised for the tax payable on the taxable profit of the current and past periods. A current tax asset is recognised in respect of a tax loss that can be carried back to recover tax paid in a previous period. Deferred tax is recognised in respect of all timing differences between the recognition of income and expenses in the financial statements and their inclusion in tax assessments. 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. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date and that are expected to apply to the reversal of the timing difference, except for revalued land and investment property where the tax rate that applies to the sale of the asset is used. Current and deferred tax assets and liabilities are not discounted.
Provisions
Provisions (ie liabilities of uncertain timing or amount) are recognised when there is an obligation at the reporting date as a result of a past event, it is probable that economic benefit will be transferred to settle the obligation and the amount of the obligation can be estimated reliably.
Leased assets
A lease is classified as a finance lease if it transfers substantially all the risks and rewards incidental to ownership. All other leases are classified as operating leases. The rights of use and obligations under finance leases are initially recognised as assets and liabilities at amounts equal to the fair value of the leased assets or, if lower, the present value of the minimum lease payments. Minimum lease payments are apportioned between the finance charge and the reduction in the outstanding liability using the effective interest rate method. The finance charge is allocated to each period during the lease so as to produce a constant periodic rate of interest on the remaining balance of the liability. Leased assets are depreciated in accordance with the company's policy for tangible fixed assets. If there is no reasonable certainty that ownership will be obtained at the end of the lease term, the asset is depreciated over the lower of the lease term and its useful life. Operating lease payments are recognised as an expense on a straight line basis over the lease term.
Pensions
Contributions to defined contribution plans are expensed in the period to which they relate.
2 Employees 2024 2023
Number Number
Average number of persons employed by the company 4 4
3 Intangible fixed assets £
Goodwill:
Cost
At 1 March 2023 10,600
At 29 February 2024 10,600
Amortisation
At 1 March 2023 5,830
Provided during the year 530
At 29 February 2024 6,360
Net book value
At 29 February 2024 4,240
At 28 February 2023 4,770
Goodwill is being written off in equal annual instalments over its estimated economic life of 20 years.
4 Tangible fixed assets
Plant and machinery etc Motor vehicles Total
£ £ £
Cost
At 1 March 2023 137,411 192,138 329,549
Additions 3,949 - 3,949
At 29 February 2024 141,360 192,138 333,498
Depreciation
At 1 March 2023 77,835 109,903 187,738
Charge for the year 21,071 27,525 48,596
At 29 February 2024 98,906 137,428 236,334
Net book value
At 29 February 2024 42,454 54,710 97,164
At 28 February 2023 59,576 82,235 141,811
5 Debtors 2024 2023
£ £
Trade debtors 49,505 44,357
Other debtors 16,018 16,018
65,523 60,375
6 Creditors: amounts falling due within one year 2024 2023
£ £
Bank loans and overdrafts 10,200 9,700
Obligations under finance lease and hire purchase contracts 3,205 3,205
Accruals 6,943 6,156
Taxation and social security costs 31,288 16,778
Other creditors 21,677 23,282
73,313 59,121
7 Creditors: amounts falling due after one year 2024 2023
£ £
Bank loans 13,080 23,512
Obligations under finance lease and hire purchase contracts 3,739 6,944
16,819 30,456
8 Other information
Arbcore Limited is a private company limited by shares and incorporated in Wales. Its registered office is:
Ysgol Trefeurig
Penbontrhydybeddau
Aberystwyth
Ceredigion
SY23 3EZ
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