Registered number
06703718
Arc (Nottm) Limited
Filleted Accounts
30 September 2024
Arc (Nottm) Limited
Registered number: 06703718
Balance Sheet
as at 30 September 2024
Notes 2024 2023
£ £
Fixed assets
Tangible assets 3 3,647 2,623
Current assets
Debtors 4 123,886 67,904
Cash at bank and in hand 119,409 122,141
243,295 190,045
Creditors: amounts falling due within one year 5 (189,196) (189,806)
Net current assets 54,099 239
Total assets less current liabilities 57,746 2,862
Provisions for liabilities (1,124) (868)
Net assets 56,622 1,994
Capital and reserves
Called up share capital 1,000 1,000
Profit and loss account 55,622 994
Shareholders' funds 56,622 1,994
The directors are 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 directors acknowledge their 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 A Rhodes
Director
Approved by the board on 21 November 2024
Arc (Nottm) Limited
Notes to the Accounts
for the year ended 30 September 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.
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 4 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.
Pensions
Contributions to defined contribution plans are expensed in the period to which they relate.
2 Employees 30/09/2024 30/09/2023
Number Number
Average number of persons employed by the company 10 6
3 Tangible fixed assets
Plant and machinery etc
£
Cost
At 1 October 2023 55,183
Additions 2,360
At 30 September 2024 57,543
Depreciation
At 1 October 2023 52,560
Charge for the year 1,336
At 30 September 2024 53,896
Net book value
At 30 September 2024 3,647
At 30 September 2023 2,623
4 Debtors 30/09/2024 30/09/2023
£ £
Trade debtors 6,552 1,890
Other debtors 117,334 66,014
123,886 67,904
5 Creditors: amounts falling due within one year 30/09/2024 30/09/2023
£ £
Trade creditors 55,699 84,690
Corporation tax 75,356 46,638
Other taxes and social security costs 24,931 21,650
Other creditors 33,210 36,828
189,196 189,806
6 Loans (to) from directors
Description and conditions B/fwd Paid Repaid C/fwd
£ £ £ £
Mr A Rhodes
Loan (to) from director (828) 12,400 (13,025) (1,453)
Mr L Kinsella
Loan (to) from director 17,620 96,092 (98,217) 15,495
16,792 108,492 (111,242) 14,042
The loans are interest free and repayable on demand.
7 Controlling party
The ultimate control of the company lies with Mr A Rhodes and Mr L Kinsella as joint directors.
8 Other information
Arc (Nottm) Limited is a private company limited by shares and incorporated in England. Its registered office is:
1st Floor, Block B Blenheim Court
Huntingdon Street
Nottingham
NG1 3BY
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