Company registration number: 04623359
Unaudited financial statements
for the year ended 31 October 2024
for
Arco Heating Limited
Pages for filing with the Registrar
Company registration number: 04623359
Arco Heating Limited
Balance sheet
as at 31 October 2024
2024 2023
Note £ £ £ £
Fixed assets
Intangible assets 4 - -
Tangible assets 5 11,832 15,987
11,832 15,987
Current assets
Stocks 1,383 3,694
Debtors 3,577 17,932
Cash at bank and in hand 23,638 37,169
28,598 58,795
Creditors: amounts falling due within
one year
(39,403) (74,125)
Net current liabilities (10,805) (15,330)
Total assets less current liabilities 1,027 657
NET ASSETS 1,027 657
Capital and reserves
Called up share capital 100 100
Profit and loss account 927 557
TOTAL EQUITY 1,027 657
The company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies for the year ended 31 October 2024.
The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The directors acknowledge their responsibilities to comply with the Companies Act 2006 in respect to accounting records and the preparation of financial statements.
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Company registration number: 04623359
Arco Heating Limited
Balance sheet - continued
as at 31 October 2024
The 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 Profit and loss account has not been delivered to the Registrar.
These financial statements were approved by the Board of directors and authorised for issue on 2 December 2024 and signed on its behalf by:
Mr M Parker, Director
2 December 2024
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Arco Heating Limited
Notes to the financial statements
for the year ended 31 October 2024
1 Company information
Arco Heating Limited is a private company registered in England and Wales. Its registered number is 04623359. The company is limited by shares. Its registered office is 203 Carter Drive, Romford, Essex, RM5 2UP.
2 Accounting policies
Basis of preparing the financial statements
These financial statements have been prepared in accordance with Financial Reporting Standard 102 “The Financial Reporting Standard applicable in the UK and Republic of Ireland” including the provisions of Section 1A “Small Entities” and the Companies Act 2006. The financial statements have been prepared under the historic cost convention.
Going concern
In preparing these financial statements, the directors have assessed whether there are any material uncertainties related to events or conditions that cast significant doubt upon the company's ability to continue as a going concern. In making this assessment, the directors take into account all available information about the future which is at least 12 months from the date that the financial statements are authorised for issue.
The directors consider that the company has adequate resources to continue in business for the foreseeable future and that it is appropriate to adopt the going concern basis in preparing the financial statements.
Turnover
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, Value Added Tax and other sales taxes.
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.
Amortisation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Goodwill - 10% straight line
Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life or, if held under a finance lease, over the lease term, whichever is the shorter.
Plant and machinery etc.:
Plant and machinery - 25% straight line
Fixtures & fittings - 25% straight line
Motor vehicles - 25% reducing balance
Computer equipment - 25% straight line
3
Arco Heating Limited
Notes to the financial statements - continued
for the year ended 31 October 2024
2 Accounting policies - continued
Stocks
Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.
Taxation
Taxation for the year comprises current and deferred taxation. Tax is recognised in the Profit and loss account, except to the extent that it relates to items recognised in other comprehensive income or directly in equity.
Current 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 been enacted or substantively enacted by the balance sheet date 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 probably that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits.
3 Average number of employees
During the year the average number of employees was 3 (2023 - 3).
4 Intangible assets
Goodwill
£
Cost
At 1 November 2023 25,000
At 31 October 2024 25,000
Amortisation
At 1 November 2023 25,000
At 31 October 2024 25,000
4
Arco Heating Limited
Notes to the financial statements - continued
for the year ended 31 October 2024
4 Intangible assets - continued
Net book value
At 31 October 2024 -
At 31 October 2023 -
5 Tangible fixed assets
Plant and
machinery
etc.
£
Cost
At 1 November 2023 36,213
At 31 October 2024 36,213
Depreciation
At 1 November 2023 20,226
Charge for year 4,155
At 31 October 2024 24,381
Net book value
At 31 October 2024 11,832
At 31 October 2023 15,987
6 Advances, credit and guarantees granted to directors
The following advances and credits to directors subsisted during the years ended 31 October 2024 and 31 October 2023.
2024 2023
£ £
Mr Martin Parker
Balance outstanding at start of year (69) (313)
Amounts advanced 55,700 36,600
Amounts repaid (55,654) (36,356)
Balance outstanding at end of year (23) (69)
5
Arco Heating Limited
Notes to the financial statements - continued
for the year ended 31 October 2024
6 Advances, credit and guarantees granted to directors - continued
2024 2023
£ £
Mr Craig Puddyford
Balance outstanding at start of year (162) (406)
Amounts advanced 55,700 36,600
Amounts repaid (55,654) (36,356)
Balance outstanding at end of year (116) (162)
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