Company registration number 04144714 (England and Wales)
ARCHGLEBE LTD
UNAUDITED FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 JUNE 2024
PAGES FOR FILING WITH REGISTRAR
ARCHGLEBE LTD
CONTENTS
Page
Balance sheet
1
Notes to the financial statements
2 - 5
ARCHGLEBE LTD
BALANCE SHEET
AS AT
30 JUNE 2024
30 June 2024
- 1 -
2024
2023
Notes
£
£
£
£
Fixed assets
Tangible assets
5
-
0
4,981
Current assets
Stocks
6
-
220
Debtors
7
1,380
-
0
Cash at bank and in hand
21,016
14,899
22,396
15,119
Creditors: amounts falling due within one year
8
(22,296)
(12,444)
Net current assets
100
2,675
Total assets less current liabilities
100
7,656
Creditors: amounts falling due after more than one year
9
-
0
(9,804)
Net assets/(liabilities)
100
(2,148)
Capital and reserves
Called up share capital
10
100
100
Profit and loss reserves
-
0
(2,248)
Total equity
100
(2,148)

The director of the company has elected not to include a copy of the profit and loss account within the financial statements.true

For the financial year ended 30 June 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

The director acknowledges his responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.

The members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476.

These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

The financial statements were approved and signed by the director and authorised for issue on 3 December 2024
Mr Dilip Patel
Director
Company registration number 04144714 (England and Wales)
ARCHGLEBE LTD
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 JUNE 2024
- 2 -
1
Accounting policies
Company information

Archglebe Ltd is a private company limited by shares incorporated in England and Wales. The registered office is Amba House, 15 College Road, Harrow, Middlesex, HA1 1BA.

1.1
Accounting convention

These financial statements have been prepared in accordance with FRS 102 “The Financial Reporting Standard applicable in the UK and Republic of Ireland” (“FRS 102”) and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime. The disclosure requirements of section 1A of FRS 102 have been applied other than where additional disclosure is required to show a true and fair view.

The financial statements are prepared in sterling, which is the functional currency of the company. Monetary amounts in these financial statements are rounded to the nearest £.

The financial statements have been prepared under the historical cost convention, [modified to include the revaluation of freehold properties and to include investment properties and certain financial instruments at fair value]. The principal accounting policies adopted are set out below.

1.2
Turnover

Turnover is recognised at the fair value of the consideration received or receivable for goods and services provided in the normal course of business, and is shown net of VAT and other sales related taxes. The fair value of consideration takes into account trade discounts, settlement discounts and volume rebates.

1.3
Intangible fixed assets - goodwill

Goodwill represents the excess of the cost of acquisition of unincorporated businesses over the fair value of net assets acquired. It is initially recognised as an asset at cost and is subsequently measured at cost less accumulated amortisation and accumulated impairment losses. Goodwill is considered to have a finite useful life and is amortised on a systematic basis over its expected life.

1.4
Tangible fixed assets

Tangible fixed assets are initially measured at cost and subsequently measured at cost or valuation, net of depreciation and any impairment losses.

Depreciation is recognised so as to write off the cost or valuation of assets less their residual values over their useful lives on the following bases:

Plant and machinery
20% Reducing Balance Method
Fixtures, fittings & equipment
20% Reducing balance Method
Motor vehicles
20% Reducing Balance Method

The gain or loss arising on the disposal of an asset is determined as the difference between the sale proceeds and the carrying value of the asset, and is credited or charged to profit or loss.

1.5
Stocks

Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell. Cost comprises direct materials and, where applicable, direct labour costs and those overheads that have been incurred in bringing the stocks to their present location and condition.

1.6
Cash and cash equivalents

Cash and cash equivalents are basic financial assets and include cash in hand, deposits held at call with banks, other short-term liquid investments with original maturities of three months or less, and bank overdrafts. Bank overdrafts are shown within borrowings in current liabilities.

ARCHGLEBE LTD
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 30 JUNE 2024
1
Accounting policies
(Continued)
- 3 -
1.7
Taxation

The tax expense represents the sum of the tax currently payable and deferred tax.

Current tax

The tax currently payable is based on taxable profit for the year. Taxable profit differs from net profit as reported in the profit and loss account because it excludes items of income or expense that are taxable or deductible in other years and it further excludes items that are never taxable or deductible. The company’s liability for current tax is calculated using tax rates that have been enacted or substantively enacted by the reporting end date.

1.8
Employee benefits

The costs of short-term employee benefits are recognised as a liability and an expense, unless those costs are required to be recognised as part of the cost of stock or fixed assets.

 

The cost of any unused holiday entitlement is recognised in the period in which the employee’s services are received.

 

Termination benefits are recognised immediately as an expense when the company is demonstrably committed to terminate the employment of an employee or to provide termination benefits.

1.9
Retirement benefits

Payments to defined contribution retirement benefit schemes are charged as an expense as they fall due.

2
Employees

The average monthly number of persons (including directors) employed by the company during the year was:

2024
2023
Number
Number
Total
2
2
3
Dividends
2024
2023
£
£
Final paid
38,422
-
0
ARCHGLEBE LTD
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 30 JUNE 2024
- 4 -
4
Intangible fixed assets
Goodwill
£
Cost
At 1 July 2023 and 30 June 2024
16,999
Amortisation and impairment
At 1 July 2023 and 30 June 2024
16,999
Carrying amount
At 30 June 2024
-
0
At 30 June 2023
-
0
5
Tangible fixed assets
Plant and machinery
Fixtures, fittings & equipment
Motor vehicles
Total
£
£
£
£
Cost
At 1 July 2023 and 30 June 2024
13,641
21,156
21,685
56,482
Depreciation and impairment
At 1 July 2023
12,652
20,147
18,702
51,501
Depreciation charged in the year
989
1,009
2,983
4,981
At 30 June 2024
13,641
21,156
21,685
56,482
Carrying amount
At 30 June 2024
-
0
-
0
-
0
-
0
At 30 June 2023
989
1,009
2,983
4,981
6
Stocks
2024
2023
£
£
Stocks
-
220
7
Debtors
2024
2023
Amounts falling due within one year:
£
£
Other debtors
1,380
-
0
ARCHGLEBE LTD
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 30 JUNE 2024
- 5 -
8
Creditors: amounts falling due within one year
2024
2023
£
£
Bank loans
9,821
4,000
Trade creditors
2
1,971
Corporation tax
10,327
-
0
Other taxation and social security
-
0
2,898
Other creditors
2,146
3,575
22,296
12,444
9
Creditors: amounts falling due after more than one year
2024
2023
£
£
Bank loans and overdrafts
-
0
9,804

Included in bank loans is a loan received from Lloyds Bank under the Bounce Back Loan Scheme (BBLS) amounting to £20,000. The loan was received on 08 May 2020 at a rate of 2.5% for a period of 5 years. The bank received a guarantee from the UK government under BBLS which provides the bank with a full guarantee should the company default on repaying the loan.

 

There is no security required for the loan.

10
Called up share capital
2024
2023
Ordinary share capital
£
£
Issued and fully paid
100 Ordinary shares of £1 each
100
100
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