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REGISTERED NUMBER: 11922135 (England and Wales)











Financial Statements

for the Year Ended 31 July 2024

for

Ark Warranty Services Limited

Ark Warranty Services Limited (Registered number: 11922135)






Contents of the Financial Statements
for the Year Ended 31 July 2024




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 3


Ark Warranty Services Limited

Company Information
for the Year Ended 31 July 2024







DIRECTORS: R Gow
A Hollier





REGISTERED OFFICE: Leofric House
18B Binley Road
Coventry
West Midlands
CV3 1JN





REGISTERED NUMBER: 11922135 (England and Wales)





AUDITORS: Leigh Christou Ltd
Chartered Certified Accountants and
Statutory Auditor
Leofric House
Binley Road
Coventry
CV3 1JN

Ark Warranty Services Limited (Registered number: 11922135)

Balance Sheet
31 July 2024

31.7.24 31.7.23
Notes £    £    £   
FIXED ASSETS
Intangible assets 4 13,187 25,370
Tangible assets 5 24,723 36,884
37,910 62,254

CURRENT ASSETS
Debtors 6 146,479 146,479
Cash at bank 85,349 375,202
231,828 521,681
CREDITORS
Amounts falling due within one year 7 313,030 551,465
NET CURRENT LIABILITIES (81,202 ) (29,784 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

(43,292

)

32,470

PROVISIONS FOR LIABILITIES 8 6,181 9,221
NET (LIABILITIES)/ASSETS (49,473 ) 23,249

CAPITAL AND RESERVES
Called up share capital 9 100 100
Retained earnings 10 (49,573 ) 23,149
SHAREHOLDERS' FUNDS (49,473 ) 23,249

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 Statement of Income and Retained Earnings has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 17 April 2025 and were signed on its behalf by:





R Gow - Director


Ark Warranty Services Limited (Registered number: 11922135)

Notes to the Financial Statements
for the Year Ended 31 July 2024

1. STATUTORY INFORMATION

Ark Warranty Services 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.

The presentation currency of the financial statements is the Pound Sterling (£).


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.

Related party exemption
The company has taken advantage of exemption, under the terms of Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland', not to disclose related party transactions with wholly owned subsidiaries within the group.

Turnover
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Survey fees are recognised on an accrual basis over the term of the contract.

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.

Development costs are being amortised evenly over their estimated useful life of five years.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Fixtures and fittings - 15% on reducing balance
Motor vehicles - 25% on reducing balance
Computer equipment - 25% on cost

Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Statement of Income and Retained Earnings, 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.


Ark Warranty Services Limited (Registered number: 11922135)

Notes to the Financial Statements - continued
for the Year Ended 31 July 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 5 (2023 - 6 ) .

4. INTANGIBLE FIXED ASSETS
Other
intangible
assets
£   
COST
At 1 August 2023
and 31 July 2024 60,916
AMORTISATION
At 1 August 2023 35,546
Charge for year 12,183
At 31 July 2024 47,729
NET BOOK VALUE
At 31 July 2024 13,187
At 31 July 2023 25,370

Ark Warranty Services Limited (Registered number: 11922135)

Notes to the Financial Statements - continued
for the Year Ended 31 July 2024

5. TANGIBLE FIXED ASSETS
Fixtures
and Motor Computer
fittings vehicles equipment Totals
£    £    £    £   
COST
At 1 August 2023
and 31 July 2024 883 37,576 18,898 57,357
DEPRECIATION
At 1 August 2023 160 7,045 13,268 20,473
Charge for year 109 7,633 4,419 12,161
At 31 July 2024 269 14,678 17,687 32,634
NET BOOK VALUE
At 31 July 2024 614 22,898 1,211 24,723
At 31 July 2023 723 30,531 5,630 36,884

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.7.24 31.7.23
£    £   
Accrued income 13,720 24,678
Amounts owed by group undertakings 115,457 113,047
VAT 12,025 -
Prepayments 5,277 8,754
146,479 146,479

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.7.24 31.7.23
£    £   
Trade creditors 10,789 10,425
Amounts owed to group undertakings 206,436 130,182
Tax - 773
Social security and other taxes 268 3,317
Pension control account 249 432
VAT - 7,613
Accrued expenses 95,288 398,723
313,030 551,465

8. PROVISIONS FOR LIABILITIES
31.7.24 31.7.23
£    £   
Deferred tax
Accelerated capital allowances 6,181 9,221

Ark Warranty Services Limited (Registered number: 11922135)

Notes to the Financial Statements - continued
for the Year Ended 31 July 2024

8. PROVISIONS FOR LIABILITIES - continued

Deferred
tax
£   
Balance at 1 August 2023 9,221
Credit to Statement of Income and Retained Earnings during year (3,040 )
Balance at 31 July 2024 6,181

9. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 31.7.24 31.7.23
value: £    £   
100 Ordinary £1 100 100

10. RESERVES
Retained
earnings
£   

At 1 August 2023 23,149
Deficit for the year (72,722 )
At 31 July 2024 (49,573 )

11. DISCLOSURE UNDER SECTION 444(5B) OF THE COMPANIES ACT 2006

The Report of the Auditors was unqualified.

C A Christou FCCA MAE (Senior Statutory Auditor)
for and on behalf of Leigh Christou Ltd

12. RELATED PARTY DISCLOSURES

In accordance with FRS 102 Section 1A, the company only discloses transactions with related parties, including group companies, where they are not undertaken under normal market conditions.

13. AUDITOR LIABILITY LIMITATION AGREEMENT

Auditors liability is limited to a maximum of twenty five times the fee relating to the audit engagement.

The directors approved the agreement on 17th October 2024.

14. ULTIMATE CONTROLLING PARTY

The company was controlled throughout the period by R Gow by virtue of her shareholding in the issued share capital of the immediate and ultimate parent company, ITUS Group Limited.

The consolidation financial statements for ITUS Group Limited are available from the registered office, being Leofric House, Binley Road, Coventry, CV3 1JN.