Registered number
03215636
Arcane Trading Limited
Filleted Accounts
30 November 2024
Arcane Trading Limited
Registered number: 03215636
Balance Sheet
as at 30 November 2024
Notes 2024 2023
£ £
Fixed assets
Tangible assets 3 776,673 755,324
Current assets
Debtors 4 284,118 365,594
Cash at bank and in hand 873,411 926,269
1,157,529 1,291,863
Creditors: amounts falling due within one year 5 (594,185) (669,926)
Net current assets 563,344 621,937
Total assets less current liabilities 1,340,017 1,377,261
Provisions for liabilities - (2,177)
Net assets 1,340,017 1,375,084
Capital and reserves
Called up share capital 200 200
Profit and loss account 1,339,817 1,374,884
Shareholders' funds 1,340,017 1,375,084
The directors are satisfied that the company is entitled to exemption from the requirement to obtain an audit under section 477 of the Companies Act 2006.
The members have not required the company to obtain an audit in accordance with section 476 of the Act.
The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts.
The accounts have been prepared and delivered in accordance with the special provisions applicable to companies subject to the small companies regime. The profit and loss account has not been delivered to the Registrar of Companies.
Steven Smith
Director
Approved by the board on 17 April 2025
Arcane Trading Limited
Notes to the Accounts
for the year ended 30 November 2024
1 Accounting policies
Basis of preparation
The accounts have been prepared under the historical cost convention and in accordance with FRS 102, The Financial Reporting Standard applicable in the UK and Republic of Ireland (as applied to small entities by section 1A of the standard).
Turnover
Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover includes revenue earned from the sale of goods and from the rendering of services. Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods have transferred to the buyer. Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs.
Tangible fixed assets
Tangible fixed assets are measured at cost less accumulative depreciation and any accumulative impairment losses. Depreciation is provided on all tangible fixed assets, other than freehold land, at rates calculated to write off the cost, less estimated residual value, of each asset evenly over its expected useful life, as follows:
Freehold buildings over 50 years
Plant and equipment over 5 years
Motor vehicles over 4 years
Debtors
Short term debtors are measured at transaction price (which is usually the invoice price), less any impairment losses for bad and doubtful debts. Loans and other financial assets are initially recognised at transaction price including any transaction costs and subsequently measured at amortised cost determined using the effective interest method, less any impairment losses for bad and doubtful debts.
Creditors
Short term creditors are measured at transaction price (which is usually the invoice price). Loans and other financial liabilities are initially recognised at transaction price net of any transaction costs and subsequently measured at amortised cost determined using the effective interest method.
Taxation
A current tax liability is recognised for the tax payable on the taxable profit of the current and past periods. A current tax asset is recognised in respect of a tax loss that can be carried back to recover tax paid in a previous period. Deferred tax is recognised in respect of all timing differences between the recognition of income and expenses in the financial statements and their inclusion in tax assessments. 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. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date and that are expected to apply to the reversal of the timing difference, except for revalued land and investment property where the tax rate that applies to the sale of the asset is used. Current and deferred tax assets and liabilities are not discounted.
Provisions
Provisions (ie liabilities of uncertain timing or amount) are recognised when there is an obligation at the reporting date as a result of a past event, it is probable that economic benefit will be transferred to settle the obligation and the amount of the obligation can be estimated reliably.
Leased assets
A lease is classified as a finance lease if it transfers substantially all the risks and rewards incidental to ownership. All other leases are classified as operating leases. The rights of use and obligations under finance leases are initially recognised as assets and liabilities at amounts equal to the fair value of the leased assets or, if lower, the present value of the minimum lease payments. Minimum lease payments are apportioned between the finance charge and the reduction in the outstanding liability using the effective interest rate method. The finance charge is allocated to each period during the lease so as to produce a constant periodic rate of interest on the remaining balance of the liability. Leased assets are depreciated in accordance with the company's policy for tangible fixed assets. If there is no reasonable certainty that ownership will be obtained at the end of the lease term, the asset is depreciated over the lower of the lease term and its useful life. Operating lease payments are recognised as an expense on a straight line basis over the lease term.
Pensions
Contributions to defined contribution plans are expensed in the period to which they relate.
2 Employees 2024 2023
Number Number
Average number of persons employed by the company 19 17
3 Tangible fixed assets
Land and buildings Plant and equipment Motor vehicles Total
£ £ £ £
Cost
At 1 December 2023 773,252 329,004 77,831 1,180,087
Additions - 43,078 24,000 67,078
Disposals - - (19,739) (19,739)
At 30 November 2024 773,252 372,082 82,092 1,227,426
Depreciation
At 1 December 2023 86,604 296,525 41,634 424,763
Charge for the year 12,372 12,221 19,902 44,495
On disposals - - (18,505) (18,505)
At 30 November 2024 98,976 308,746 43,031 450,753
Net book value
At 30 November 2024 674,276 63,336 39,061 776,673
At 30 November 2023 686,648 32,479 36,197 755,324
4 Debtors 2024 2023
£ £
Trade debtors 255,350 329,143
Prepayments 26,432 33,162
Other debtors 2,336 3,289
284,118 365,594
5 Creditors: amounts falling due within one year 2024 2023
£ £
Accruals 66,494 77,681
Trade creditors 182,688 183,498
Directors' accounts 81,653 75,530
Taxation and social security costs 51,414 73,896
Other creditors 211,936 259,321
594,185 669,926
6 Other financial commitments 2024 2023
£ £
Total future minimum payments under non-cancellable operating leases 3,829 5,361
7 Contingent liabilities
The company granted a fixed charge on book debts and other debts on 7 December 2001 to National Westminster Bank plc.
8 Controlling party
The company is controlled by the directors, together with members of their close families, by virtue of a 100 per cent controlling interest in the authorised, issued, ordinary share capital. The dividend payable to the directors was £28,750 (2023 - £28,750)
9 Other information
Arcane Trading Limited is a private company limited by shares and incorporated in England. Its registered office is:
George House
Bannerley Road
Birmingham
B33 0SL
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