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Registration number: 2814061

Arrow Valley Automation Ltd

Annual Report and Unaudited Financial Statements

for the Year Ended 30 April 2024

 

Arrow Valley Automation Ltd

(Registration number: 2814061)
Balance Sheet as at 30 April 2024

Note

2024
£

2023
£

Fixed assets

 

Intangible assets

4

-

4,841

Tangible assets

5

40,703

8,838

 

40,703

13,679

Current assets

 

Stocks

6

144,194

74,471

Debtors

7

357,799

267,337

Cash at bank and in hand

 

151,954

241,221

 

653,947

583,029

Creditors: Amounts falling due within one year

8

(324,018)

(295,875)

Net current assets

 

329,929

287,154

Total assets less current liabilities

 

370,632

300,833

Provisions for liabilities

(7,734)

-

Net assets

 

362,898

300,833

Capital and reserves

 

Called up share capital

9

999

999

Retained earnings

361,899

299,834

Shareholders' funds

 

362,898

300,833

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

Directors' responsibilities:

The members have not required the company to obtain an audit of its accounts for the year in question in accordance with section 476; and

The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

 

Arrow Valley Automation Ltd

(Registration number: 2814061)
Balance Sheet as at 30 April 2024
(continued)

These financial statements have been prepared in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006.

These financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime. As permitted by section 444 (5A) of the Companies Act 2006, the directors have not delivered to the registrar a copy of the Profit and Loss Account.

Approved and authorised by the Board on 29 January 2025 and signed on its behalf by:
 

.........................................
Rob Weale
Director

 

Arrow Valley Automation Ltd

Notes to the Unaudited Financial Statements for the Year Ended 30 April 2024

1

General information

The company is a private company limited by share capital, incorporated in England.

The address of its registered office is:
St Ethelbert House
Ryelands Street
Hereford
Herefordshire
HR4 0LA

The principal place of business is:
Lugg View Industrial Estate
Moreton on Lugg
Hereford
HR4 8DP

These financial statements were authorised for issue by the Board on 29 January 2025.

2

Accounting policies

Summary of significant accounting policies and key accounting estimates

The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.

Statement of compliance

The financial statements have been prepared in accordance with FRS 102, section 1A - 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' and the Companies Act 2006.

Basis of preparation

The financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.

Going concern

The financial statements have been prepared on a going concern basis.

 

Arrow Valley Automation Ltd

Notes to the Unaudited Financial Statements for the Year Ended 30 April 2024
(continued)

2

Accounting policies (continued)

Revenue recognition

Revenue is measured at the fair value of the consideration received or receivable. Revenue is reduced for estimated customer returns, rebates and other similar allowances. Revenue from the sale of goods is recognised when goods are delivered and legal title has passed.

Tax

Taxation represents the sum of tax currently payable and deferred tax.

The company's liability for current tax is calculated using tax rates that have been enacted or substantially enacted by the end of the reporting period.

Deferred tax is recognised on all timing differences between the carrying amounts of assets and liabilities in the financial statements and the corresponding tax bases used in the computation of taxable profit. The carrying amount of deferred tax assets is reviewed at the end of each reporting period and reduced to the extent that it is no longer probable that sufficient taxable profits will be available to allow all or part of the asset to be recovered. Deferred tax assets and liabilities are measured at the tax rates that are expected to apply in the period in which the liability is settled or the asset realised, based on tax rates (and tax laws) that have been enacted or substantially enacted by the end of the reporting period.

Depreciation

Tangible fixed assets held for the company's own use are stated at cost less accumulated depreciation and accumulated impairment losses. Depreciation is provided at rates calculated to write off the cost of fixed assets, less their estimated residual value, over their expected useful lives at the following rates:

Asset class

Depreciation method and rate

Plant and machinery

15% of cost per annum

Fixtures and fittings

20% of cost per annum

Computer equipment

33% of cost per annum

Motor vehicles

25% of written down value per annum

Amortisation

Amortisation is provided on intangible assets so as to write off the cost, less any estimated residual value, over their useful life as follows:

 

Arrow Valley Automation Ltd

Notes to the Unaudited Financial Statements for the Year Ended 30 April 2024
(continued)

2

Accounting policies (continued)

Asset class

Amortisation method and rate

Computer software

20% of cost per annum

Stocks

Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell (net realisable value). Costs, which comprise direct production costs, are based on the method most appropriate to the type of inventory class, but usually on a first-in-first-out basis. Overheads are charged to profit and loss as incurred. Net realiasable value is based on the estimated selling price less any estimated completion or selling costs.

Borrowings

Interest-bearing borrowings are initially recorded at fair value, net of transaction costs. Interest-bearing borrowings are subsequently carried at amortised cost, with the difference between the proceeds, net of transaction costs, and the amount due on redemption being recognised as a charge to the profit and loss account over the period of the relevant borrowing.

Interest expense is recognised on the basis of the effective interest method and is included in interest payable and similar charges.

Borrowings are classified as current liabilities unless the company has an unconditional right to defer settlement of the liability for at least twelve months after the reporting date.

Dividends

Dividend distribution to the company’s shareholders is recognised as a liability in the financial statements in the reporting period in which the dividends are declared.

3

Staff numbers

The average number of persons employed by the company (including directors) during the year, was 13 (2023 - 14).

 

Arrow Valley Automation Ltd

Notes to the Unaudited Financial Statements for the Year Ended 30 April 2024
(continued)

4

Intangible assets

Software
 £

Contractual customer relationships
 £

Total
£

Cost or valuation

At 1 May 2023

-

14,361

14,361

Disposals

-

(14,361)

(14,361)

At 30 April 2024

-

-

-

Amortisation

At 1 May 2023

-

9,520

9,520

Amortisation eliminated on disposals

-

(9,520)

(9,520)

At 30 April 2024

-

-

-

Carrying amount

At 30 April 2024

-

-

-

At 30 April 2023

4,841

-

4,841

 

Arrow Valley Automation Ltd

Notes to the Unaudited Financial Statements for the Year Ended 30 April 2024
(continued)

5

Tangible assets

Furniture, fittings and equipment
 £

Motor vehicles
 £

Total
£

Cost or valuation

At 1 May 2023

32,063

-

32,063

Additions

6,657

33,930

40,587

Disposals

(14,725)

-

(14,725)

At 30 April 2024

23,995

33,930

57,925

Depreciation

At 1 May 2023

27,731

-

27,731

Charge for the year

3,509

707

4,216

Eliminated on disposal

(14,725)

-

(14,725)

At 30 April 2024

16,515

707

17,222

Carrying amount

At 30 April 2024

7,480

33,223

40,703

At 30 April 2023

8,838

-

8,838

6

Stocks

2024
£

2023
£

Other inventories

144,194

74,471

 

Arrow Valley Automation Ltd

Notes to the Unaudited Financial Statements for the Year Ended 30 April 2024
(continued)

7

debtors

Current

2024
£

2023
£

Trade debtors

351,370

259,491

Prepayments

4,902

7,846

Other debtors

1,527

-

 

357,799

267,337

 

Arrow Valley Automation Ltd

Notes to the Unaudited Financial Statements for the Year Ended 30 April 2024
(continued)

8

Creditors

Creditors: amounts falling due within one year

Note

2024
£

2023
£

Due within one year

 

Loans and borrowings

10

1,955

904

Trade creditors

 

149,358

116,414

Taxation and social security

 

16,457

15,367

Accruals and deferred income

 

9,102

13,254

Other creditors

 

147,146

149,936

 

324,018

295,875

9

Share capital

Allotted, called up and fully paid shares

2024

2023

No.

£

No.

£

Ordinary Shares of £1 each

999

999

999

999

       

10

Loans and borrowings

Current loans and borrowings

2024
£

2023
£

Bank overdrafts

1,955

904

 

Arrow Valley Automation Ltd

Notes to the Unaudited Financial Statements for the Year Ended 30 April 2024
(continued)

11

Financial commitments, guarantees and contingencies

Amounts not provided for in the balance sheet

The total amount of financial commitments not included in the balance sheet is £24,000 (2023 - £24,000). This includes rent for the period to 30 April 2024.