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REGISTERED NUMBER: 06959801 (England and Wales)














FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 AUGUST 2024

FOR

ARKTECH (NE) LIMITED

ARKTECH (NE) LIMITED (REGISTERED NUMBER: 06959801)






CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 AUGUST 2024




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


ARKTECH (NE) LIMITED

COMPANY INFORMATION
FOR THE YEAR ENDED 31 AUGUST 2024







DIRECTORS: B Stansfield
S Bates





SECRETARY: S Bates





REGISTERED OFFICE: 1 Lee Close
Pattinson North Industrial Estate
Washington
Tyne and Wear
NE38 8QF





REGISTERED NUMBER: 06959801 (England and Wales)





ACCOUNTANTS: RMT Ribchesters
Accountants and Business Advisors
Finchale House
Belmont Business Park
Durham
DH1 1TW

ARKTECH (NE) LIMITED (REGISTERED NUMBER: 06959801)

BALANCE SHEET
31 AUGUST 2024

2024 2023
Notes £    £    £    £   
FIXED ASSETS
Intangible assets 4 - -
Tangible assets 5 183,539 185,482
183,539 185,482

CURRENT ASSETS
Stocks 14,598 5,000
Debtors 6 465,542 466,804
Cash at bank and in hand 955,592 414,886
1,435,732 886,690
CREDITORS
Amounts falling due within one year 7 505,217 334,115
NET CURRENT ASSETS 930,515 552,575
TOTAL ASSETS LESS CURRENT
LIABILITIES

1,114,054

738,057

PROVISIONS FOR LIABILITIES 15,346 14,936
NET ASSETS 1,098,708 723,121

CAPITAL AND RESERVES
Called up share capital 9 130 130
Revaluation reserve 10 19,414 19,970
Capital redemption reserve 70 70
Retained earnings 1,079,094 702,951
SHAREHOLDERS' FUNDS 1,098,708 723,121

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 August 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 August 2024 in accordance with Section 476 of the Companies Act 2006.

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.

ARKTECH (NE) LIMITED (REGISTERED NUMBER: 06959801)

BALANCE SHEET - continued
31 AUGUST 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 Income Statement has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 12 March 2025 and were signed on its behalf by:





B Stansfield - Director


ARKTECH (NE) LIMITED (REGISTERED NUMBER: 06959801)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 AUGUST 2024

1. STATUTORY INFORMATION

Arktech (NE) Limited is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.

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 historical cost convention as modified by the revaluation of certain assets.

Turnover
Turnover represents invoiced sales of goods & services arising from the principal activity, net of value added tax.

In respect of turnover arising from contractual arrangements, income is attributed to the profit and loss account as contract activity progresses in a manner appropriate to the stage of completion of each individual contract.

Goodwill
Goodwill, being the amount paid in connection with the acquisition of a business in 2009, is being amortised evenly over its estimated useful life of ten years.

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.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Freehold property - 2% on cost
Plant and machinery - 25% on cost
Fixtures and fittings - 25% on reducing balance
Motor vehicles - 25% on reducing balance
Computer equipment - 25% on cost

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 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 or deferred 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.


ARKTECH (NE) LIMITED (REGISTERED NUMBER: 06959801)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 AUGUST 2024

2. ACCOUNTING POLICIES - continued
Deferred tax
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 year 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.

Hire purchase and leasing commitments
Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease.

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 profit or loss in the period to which they relate.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 26 (2023 - 31 ) .

4. INTANGIBLE FIXED ASSETS
Goodwill
£   
COST
At 1 September 2023
and 31 August 2024 59,999
AMORTISATION
At 1 September 2023
and 31 August 2024 59,999
NET BOOK VALUE
At 31 August 2024 -
At 31 August 2023 -

ARKTECH (NE) LIMITED (REGISTERED NUMBER: 06959801)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 AUGUST 2024

5. TANGIBLE FIXED ASSETS
Plant and
Land and machinery
buildings etc Totals
£    £    £   
COST OR VALUATION
At 1 September 2023 150,000 221,239 371,239
Additions - 21,812 21,812
At 31 August 2024 150,000 243,051 393,051
DEPRECIATION
At 1 September 2023 24,844 160,913 185,757
Charge for year 3,000 20,755 23,755
At 31 August 2024 27,844 181,668 209,512
NET BOOK VALUE
At 31 August 2024 122,156 61,383 183,539
At 31 August 2023 125,156 60,326 185,482

Cost or valuation at 31 August 2024 is represented by:

Plant and
Land and machinery
buildings etc Totals
£    £    £   
Valuation in 2024 150,000 243,051 393,051

If freehold property had not been revalued it would have been included at the following historical cost:

2024 2023
£    £   
Cost 122,188 122,188
Aggregate depreciation 13,180 13,180

Freehold property was valued on an open market basis on 31 August 2024 by the directors .

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Trade debtors 279,181 373,505
Amounts recoverable on
contracts 133,235 61,235
Other debtors 53,126 32,064
465,542 466,804

ARKTECH (NE) LIMITED (REGISTERED NUMBER: 06959801)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 AUGUST 2024

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Trade creditors 40,621 92,170
Taxation and social security 360,837 165,742
Other creditors 103,759 76,203
505,217 334,115

8. LEASING AGREEMENTS

Minimum lease payments under non-cancellable operating leases fall due as follows:
2024 2023
£    £   
Within one year 1,175 14,100
Between one and five years - 1,175
1,175 15,275

9. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 2024 2023
value: £    £   
30 Ordinary £1 30 30
100 Classes A-E £1 100 100
130 130

10. RESERVES
Revaluation
reserve
£   
At 1 September 2023 19,970
Transfer (556 )

At 31 August 2024 19,414

11. RELATED PARTY DISCLOSURES

During the year the directors maintained an interest free loan to the company. As at 31 August 2024 the balance outstanding was £43,942 (2023: £40,568). .