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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
Page
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Mitcham Arc Limited Company Information for the year ended 31 December 2024
Director
Daniel Lawes
Company Number
12305031 (England and Wales)
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Mitcham Arc Limited Statement of financial position as at 31 December 2024
2024 
2023 
Notes
£ 
£ 
Fixed assets
Intangible assets
- 
200 
Tangible assets
79,421 
46,728 
79,421 
46,928 
Current assets
Inventories
39,824 
31,660 
Debtors
252,623 
195,118 
Cash at bank and in hand
195,835 
121,365 
488,282 
348,143 
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
Deferred tax
- 
(7,485)
Net assets
220,842 
49,156 
Capital and reserves
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
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Mitcham Arc Limited Notes to the Accounts for the year ended 31 December 2024
1
Statutory information
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.
3
Accounting policies
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.
Basis of preparation
The accounts have been prepared under the historical cost convention as modified by the revaluation of certain fixed assets.
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
Grants Receivable
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
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
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.
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Mitcham Arc Limited Notes to the Accounts for the year ended 31 December 2024
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.
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.
Pension
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.
4
Intangible fixed assets
Goodwill 
£ 
Cost
At 1 January 2024
1,000 
At 31 December 2024
1,000 
Amortisation
At 1 January 2024
800 
Charge for the year
200 
At 31 December 2024
1,000 
Net book value
At 31 December 2024
- 
At 31 December 2023
200 
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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 
Depreciation
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 
Net book value
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 
6
Debtors
2024 
2023 
£ 
£ 
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 
252,623 
195,118 
7
Creditors: amounts falling due within one year
2024 
2023 
£ 
£ 
VAT
50,626 
79,252 
Trade creditors
93,338 
79,861 
Taxes and social security
91,526 
65,682 
Proposed dividends
30,189 
- 
Other creditors
- 
6,920 
Accruals
67,067 
83,513 
332,746 
315,228 
8
Creditors: amounts falling due after more than one year
2024 
2023 
£ 
£ 
Bank loans
14,115 
23,202 
9
Average number of employees
During the year the average number of employees was 25 (2023: 24).
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