REGISTERED NUMBER: |
ARCHER FIRES LTD |
UNAUDITED FINANCIAL STATEMENTS FOR THE PERIOD 12 MAY 2023 TO 30 SEPTEMBER 2024 |
REGISTERED NUMBER: |
ARCHER FIRES LTD |
UNAUDITED FINANCIAL STATEMENTS FOR THE PERIOD 12 MAY 2023 TO 30 SEPTEMBER 2024 |
ARCHER FIRES LTD (REGISTERED NUMBER: 14864073) |
CONTENTS OF THE FINANCIAL STATEMENTS |
FOR THE PERIOD 12 MAY 2023 TO 30 SEPTEMBER 2024 |
Page |
Company Information | 1 |
Chartered Accountants' Report | 2 |
Balance Sheet | 3 |
Notes to the Financial Statements | 4 |
ARCHER FIRES LTD |
COMPANY INFORMATION |
FOR THE PERIOD 12 MAY 2023 TO 30 SEPTEMBER 2024 |
DIRECTORS: |
REGISTERED OFFICE: |
REGISTERED NUMBER: |
ACCOUNTANTS: |
Fryern House |
125 Winchester Road |
Chandlers Ford |
Hampshire |
SO53 2DR |
CHARTERED ACCOUNTANTS' REPORT TO THE BOARD OF DIRECTORS |
ON THE UNAUDITED FINANCIAL STATEMENTS OF |
ARCHER FIRES LTD |
The following reproduces the text of the report prepared for the directors in respect of the company's annual unaudited financial statements. In accordance with the Companies Act 2006, the company is only required to file a Balance Sheet. Readers are cautioned that the Income Statement and certain other primary statements and the Report of the Directors are not required to be filed with the Registrar of Companies. |
In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the financial statements of Archer Fires Ltd for the period ended 30 September 2024 which comprise the Income Statement, Balance Sheet and the related notes from the company's accounting records and from information and explanations you have given us. |
As a practising member firm of the Institute of Chartered Accountants in England and Wales (ICAEW), we are subject to its ethical and other professional requirements which are detailed within the ICAEW's regulations and guidance at http://www.icaew.com/en/membership/regulations-standards-and-guidance. |
This report is made solely to the Board of Directors of Archer Fires Ltd, as a body, in accordance with our terms of engagement. Our work has been undertaken solely to prepare for your approval the financial statements of Archer Fires Ltd and state those matters that we have agreed to state to the Board of Directors of Archer Fires Ltd, as a body, in this report in accordance with ICAEW Technical Release 07/16AAF. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than Archer Fires Ltd and its Board of Directors, as a body, for our work or for this report. |
It is your duty to ensure that Archer Fires Ltd has kept adequate accounting records and to prepare statutory financial statements that give a true and fair view of the assets, liabilities, financial position and loss of Archer Fires Ltd. You consider that Archer Fires Ltd is exempt from the statutory audit requirement for the period. |
We have not been instructed to carry out an audit or a review of the financial statements of Archer Fires Ltd. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory financial statements. |
Fryern House |
125 Winchester Road |
Chandlers Ford |
Hampshire |
SO53 2DR |
ARCHER FIRES LTD (REGISTERED NUMBER: 14864073) |
BALANCE SHEET |
30 SEPTEMBER 2024 |
Notes | £ | £ |
FIXED ASSETS |
Tangible assets | 4 |
CURRENT ASSETS |
Stocks | 5 |
Debtors | 6 |
Cash at bank |
CREDITORS |
Amounts falling due within one year | 7 |
NET CURRENT LIABILITIES | ( |
) |
TOTAL ASSETS LESS CURRENT LIABILITIES |
( |
) |
CAPITAL AND RESERVES |
Called up share capital |
Retained earnings | ( |
) |
( |
) |
The directors acknowledge their responsibilities for: |
(a) | ensuring that the company keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006 and |
(b) | preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of each financial year and of its profit or loss for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the company. |
The financial statements were approved by the Board of Directors and authorised for issue on |
ARCHER FIRES LTD (REGISTERED NUMBER: 14864073) |
NOTES TO THE FINANCIAL STATEMENTS |
FOR THE PERIOD 12 MAY 2023 TO 30 SEPTEMBER 2024 |
1. | STATUTORY INFORMATION |
Archer Fires Ltd is a private company, limited by shares, registered in England and Wales. The company's registered number is 14864073 and the registered office address is Brocksford Farm, Brocksford, Doveridge, Ashbourne, Derbyshire, DE6 5PA. |
2. | ACCOUNTING POLICIES |
Basis of preparing the financial statements |
The presentation currency is £ Sterling. |
Going concern |
The period to 30 September 2024 was a formation and establishment period. Accordingly, the company incurred significant startup costs which included a number of one-off costs associated with the design and approval of the goods. These costs were incurred at a time where there were little to no sales, therefore the company appears to have traded at a loss. The trading performance in the following period will not have any of these costs and will show the company trading profitably. The financial statements have therefore been prepared on a going concern basis. |
Turnover |
Turnover represents net amounts invoiced during the year (excluding value added tax) adjusted for accrued and deferred income where applicable. Turnover is recognised on the despatch of the product. |
Tangible fixed assets |
All tangible fixed assets are initially recognised at cost and subsequently carried at cost less accumulated depreciation and accumulated impairment losses. |
The cost of tangible fixed assets initially recognised includes its purchase price and any cost that is directly attributable to bringing the asset to the location and condition necessary for it to be capable of operating in a manner intended by management. |
Depreciation is calculated so as to write off the cost of an asset, less its estimated residual value, over the useful economic life of that asset as follows: |
Plant and machinery | 4 years straight line |
The assets' residual values and useful lives are reviewed and adjusted, if appropriate, at the end of each reporting period. The effect of any change is accounted for prospectively. |
Tangible fixed assets are derecognised on disposal or when no future economic benefits are expected. On disposal, the difference between the net disposal proceeds and the carrying amount is recognised in the Income Statement. |
Stocks |
Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items. Costs include all direct material and direct labour costs. Net realisable value is based on estimated selling price less additional costs to completion and disposal. |
ARCHER FIRES LTD (REGISTERED NUMBER: 14864073) |
NOTES TO THE FINANCIAL STATEMENTS - continued |
FOR THE PERIOD 12 MAY 2023 TO 30 SEPTEMBER 2024 |
2. | ACCOUNTING POLICIES - continued |
Taxation |
Taxation for the period comprises current and deferred tax. Tax is recognised in the Income Statement, except to the extent that it relates to items recognised in other comprehensive income or directly in equity. |
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 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 have been enacted or substantively enacted by the period end 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 probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits. |
Pension costs and other post-retirement benefits |
The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to the Income Statement in the period to which they relate. |
Financial instruments |
The company only has financial assets and liabilities of the kind that qualify as basic financial instruments. Basic financial instruments are initially measured at transaction value and debt instruments are subsequently measured at amortised cost. |
3. | EMPLOYEES AND DIRECTORS |
The average number of employees during the period was |
4. | TANGIBLE FIXED ASSETS |
Plant and |
machinery |
£ |
COST |
Additions |
At 30 September 2024 |
DEPRECIATION |
Charge for period |
At 30 September 2024 |
NET BOOK VALUE |
At 30 September 2024 |
5. | STOCKS |
£ |
Raw materials |
Finished goods |
ARCHER FIRES LTD (REGISTERED NUMBER: 14864073) |
NOTES TO THE FINANCIAL STATEMENTS - continued |
FOR THE PERIOD 12 MAY 2023 TO 30 SEPTEMBER 2024 |
6. | DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
£ |
Trade debtors |
Other debtors |
VAT |
Prepayments and accrued income |
7. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
£ |
Trade creditors |
Social security and other taxes |
Other creditors |
Accruals and deferred income |
8. | RELATED PARTY DISCLOSURES |
During the period the company was advanced loans from entities with common shareholders. The amount outstanding at the year end is £181,995 and is included within 'Creditors: Amounts falling due within one year'. The loans are due for repayment on demand and no interest has been charged on the loans. |
9. | ULTIMATE CONTROLLING PARTY |
The ultimate controlling party is Mr J R Archer. |