Company Registration No. 12305031 (England and Wales)
Mitcham Arc Limited
Unaudited accounts
for the year ended 31 December 2024
Mitcham Arc Limited
Unaudited accounts
Contents
Mitcham Arc Limited
Company Information
for the year ended 31 December 2024
Company Number
12305031 (England and Wales)
Mitcham Arc Limited
Statement of financial position
as at 31 December 2024
Tangible assets
79,421
46,728
Cash at bank and in hand
195,835
121,365
Creditors: amounts falling due within one year
(332,746)
(315,228)
Net current assets
155,536
32,915
Total assets less current liabilities
234,957
79,843
Creditors: amounts falling due after more than one year
(14,115)
(23,202)
Provisions for liabilities
Called up share capital
10
10
Profit and loss account
220,832
49,146
Shareholders' funds
220,842
49,156
For the year ending 31 December 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies. The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
These accounts have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with the provisions of FRS 102 Section 1A - Small Entities. The profit and loss account has not been delivered to the Registrar of Companies.
The financial statements were approved by the Board and authorised for issue on 9 May 2025 and were signed on its behalf by
Daniel Lawes
Director
Company Registration No. 12305031
Mitcham Arc Limited
Notes to the Accounts
for the year ended 31 December 2024
Mitcham Arc Limited is a private company, limited by shares, registered in England and Wales, registration number 12305031.
2
Compliance with accounting standards
The accounts have been prepared in accordance with the provisions of FRS 102 Section 1A Small Entities. There were no material departures from that standard.
The principal accounting policies adopted in the preparation of the financial statements are set out below and have remained unchanged from the previous year, and also have been consistently applied within the same accounts.
The accounts have been prepared under the historical cost convention as modified by the revaluation of certain fixed assets.
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
Government grants are recognised under the performance model. Where the grant does not impose specified future performance-related conditions on the recipient, it is recognised in income when the grant proceeds are received or receivable. Where the grant does impose specified future performance-related conditions on the recipient, it is recognised in income only when the performance-related conditions have been met. Where grants are received prior to satisfying the
revenue recognition criteria, they are recognised as a liability.
Intangible fixed assets (including purchased goodwill and patents) are included at cost less accumulated amortisation.
Tangible fixed assets and depreciation
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 over its
expected useful life, as follows:
Leasehold land and buildings 10% straight line
Plant and equipment 25% reducing balance
Motor vehicles 25% reducing balance
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.
Mitcham Arc Limited
Notes to the Accounts
for the year ended 31 December 2024
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.
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
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.
The company operates a defined contribution scheme for the benefit of its employees. Contributions payable are recognised in the profit and loss account when due.
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Intangible fixed assets
Goodwill
Mitcham Arc Limited
Notes to the Accounts
for the year ended 31 December 2024
5
Tangible fixed assets
Land & buildings
Plant & machinery
Motor vehicles
Computer equipment
Total
Cost or valuation
At cost
At cost
At cost
At cost
At 1 January 2024
10,475
46,437
9,900
9,981
76,793
Additions
-
1,600
52,820
1,778
56,198
At 31 December 2024
10,475
48,037
62,720
11,759
132,991
At 1 January 2024
3,142
18,801
4,140
3,982
30,065
Charge for the year
1,047
7,309
13,205
1,944
23,505
At 31 December 2024
4,189
26,110
17,345
5,926
53,570
At 31 December 2024
6,286
21,927
45,375
5,833
79,421
At 31 December 2023
7,333
27,636
5,760
5,999
46,728
Amounts falling due within one year
Trade debtors
189,048
136,731
Accrued income and prepayments
32,253
25,783
Other debtors
31,322
32,604
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Creditors: amounts falling due within one year
2024
2023
Trade creditors
93,338
79,861
Taxes and social security
91,526
65,682
Proposed dividends
30,189
-
8
Creditors: amounts falling due after more than one year
2024
2023
9
Average number of employees
During the year the average number of employees was 25 (2023: 24).