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COMPANY REGISTRATION NUMBER: 03748110
Arkhive Limited
Filleted Unaudited Financial Statements
30 June 2024
Arkhive Limited
Financial Statements
Year ended 30 June 2024
Contents
Pages
Chartered accountant's report to the board of directors on the preparation of the unaudited statutory financial statements
1
Statement of financial position
2 to 3
Notes to the financial statements
4 to 7
Arkhive Limited
Chartered Accountant's Report to the Board of Directors on the Preparation of the Unaudited Statutory Financial Statements of Arkhive Limited
Year ended 30 June 2024
In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the financial statements of Arkhive Limited for the year ended 30 June 2024, which comprise the statement of financial position and the related notes from the company's accounting records and from information and explanations you have given us. As a practising member firm of the Institute of Chartered Accountants in England and Wales (ICAEW), we are subject to its ethical and other professional requirements which are detailed at www.icaew.com/en/membership/regulations-standards-and-guidance. This report is made solely to the Board of Directors of Arkhive Limited, as a body, in accordance with the terms of our engagement letter dated 27 March 2025. Our work has been undertaken solely to prepare for your approval the financial statements of Arkhive Limited and state those matters that we have agreed to state to you, as a body, in this report in accordance with ICAEW Technical Release 07/16 AAF as detailed at www.icaew.com/compilation. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than Arkhive Limited and its Board of Directors, as a body, for our work or for this report.
It is your duty to ensure that Arkhive Limited has kept adequate accounting records and to prepare statutory financial statements that give a true and fair view of the assets, liabilities, financial position and profit of Arkhive Limited. You consider that Arkhive Limited is exempt from the statutory audit requirement for the year. We have not been instructed to carry out an audit or a review of the financial statements of Arkhive Limited. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory financial statements.
HEBBLETHWAITES Chartered accountants
2 Westbrook Court Sharrow Vale Road Sheffield S11 8YZ
23 June 2025
Arkhive Limited
Statement of Financial Position
30 June 2024
2024
2023
Note
£
£
Fixed assets
Tangible assets
4
498
391,966
Current assets
Debtors
5
290,029
1,928
Cash at bank and in hand
350
128
---------
-------
290,379
2,056
Creditors: amounts falling due within one year
6
84,419
104,533
---------
---------
Net current assets/(liabilities)
205,960
( 102,477)
---------
---------
Total assets less current liabilities
206,458
289,489
Creditors: amounts falling due after more than one year
7
207,228
499,556
---------
---------
Net liabilities
( 770)
( 210,067)
---------
---------
Arkhive Limited
Statement of Financial Position (continued)
30 June 2024
2024
2023
Note
£
£
Capital and reserves
Called up share capital
100
100
Profit and loss account
( 870)
( 210,167)
----
---------
Shareholders deficit
( 770)
( 210,067)
----
---------
These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with Section 1A of FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.
In accordance with section 444 of the Companies Act 2006, the statement of income and retained earnings has not been delivered.
For the year ending 30 June 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
Directors' responsibilities:
- The members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476 ;
- The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements .
These financial statements were approved by the board of directors and authorised for issue on 23 June 2025 , and are signed on behalf of the board by:
Mr A S Hallam
Director
Company registration number: 03748110
Arkhive Limited
Notes to the Financial Statements
Year ended 30 June 2024
1. General information
The company is a private company limited by shares, registered in England and Wales. The address of the registered office is 15 Napier Street, Sheffield, S11 8HA.
2. Statement of compliance
These financial statements have been prepared in compliance with Section 1A of FRS 102, 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland'.
3. Accounting policies
Basis of preparation
The financial statements have been prepared on the historical cost basis, as modified by the revaluation of certain financial assets and liabilities and investment properties measured at fair value through profit or loss.
The financial statements are prepared in sterling, which is the functional currency of the entity.
Going concern
At the year end date, the company Statement of Financial Position reflects a net liability position. Despite this, the accounts have been prepared on the going concern basis which assumes that the company can meet its' financial obligations as they fall due. The directors are of the opinion that this policy remains valid given the ongoing support provided to the company by the directors and families.
Revenue recognition
Turnover is measured at the fair value of the consideration received or receivable for goods supplied and services rendered, net of discounts and Value Added Tax. Revenue from the sale of goods is recognised when the significant risks and rewards of ownership have transferred to the buyer (usually on despatch of the goods); the amount of revenue can be measured reliably; it is probable that the associated economic benefits will flow to the entity; and the costs incurred or to be incurred in respect of the transactions can be measured reliably.
Tangible assets
Tangible assets are initially recorded at cost, and subsequently stated at cost less any accumulated depreciation and impairment losses. Any tangible assets carried at revalued amounts are recorded at the fair value at the date of revaluation less any subsequent accumulated depreciation and subsequent accumulated impairment losses. An increase in the carrying amount of an asset as a result of a revaluation, is recognised in other comprehensive income and accumulated in equity, except to the extent it reverses a revaluation decrease of the same asset previously recognised in profit or loss. A decrease in the carrying amount of an asset as a result of revaluation, is recognised in other comprehensive income to the extent of any previously recognised revaluation increase accumulated in equity in respect of that asset. Where a revaluation decrease exceeds the accumulated revaluation gains accumulated in equity in respect of that asset, the excess shall be recognised in profit or loss.
Depreciation
Depreciation is calculated so as to write off the cost or valuation of an asset, less its residual value, over the useful economic life of that asset as follows:
Plant and machinery
-
10% reducing balance
Fixtures and fittings
-
25% reducing balance
Impairment of fixed assets
A review for indicators of impairment is carried out at each reporting date, with the recoverable amount being estimated where such indicators exist. Where the carrying value exceeds the recoverable amount, the asset is impaired accordingly. Prior impairments are also reviewed for possible reversal at each reporting date. For the purposes of impairment testing, when it is not possible to estimate the recoverable amount of an individual asset, an estimate is made of the recoverable amount of the cash-generating unit to which the asset belongs. The cash-generating unit is the smallest identifiable group of assets that includes the asset and generates cash inflows that largely independent of the cash inflows from other assets or groups of assets. For impairment testing of goodwill, the goodwill acquired in a business combination is, from the acquisition date, allocated to each of the cash-generating units that are expected to benefit from the synergies of the combination, irrespective of whether other assets or liabilities of the company are assigned to those units.
Financial instruments
A financial asset or a financial liability is recognised only when the company becomes a party to the contractual provisions of the instrument. Basic financial instruments are initially recognised at the transaction price, unless the arrangement constitutes a financing transaction, where it is recognised at the present value of the future payments discounted at a market rate of interest for a similar debt instrument. Debt instruments are subsequently measured at amortised cost. Where investments in non-convertible preference shares and non-puttable ordinary shares or preference shares are publicly traded or their fair value can otherwise be measured reliably, the investment is subsequently measured at fair value with changes in fair value recognised in profit or loss. All other such investments are subsequently measured at cost less impairment. Other financial instruments, including derivatives, are initially recognised at fair value, unless payment for an asset is deferred beyond normal business terms or financed at a rate of interest that is not a market rate, in which case the asset is measured at the present value of the future payments discounted at a market rate of interest for a similar debt instrument. Other financial instruments are subsequently measured at fair value, with any changes recognised in profit or loss, with the exception of hedging instruments in a designated hedging relationship.
Financial assets that are measured at cost or amortised cost are reviewed for objective evidence of impairment at the end of each reporting date. If there is objective evidence of impairment, an impairment loss is recognised in profit or loss immediately. For all equity instruments regardless of significance, and other financial assets that are individually significant, these are assessed individually for impairment. Other financial assets are either assessed individually or grouped on the basis of similar credit risk characteristics. Any reversals of impairment are recognised in profit or loss immediately, to the extent that the reversal does not result in a carrying amount of the financial asset that exceeds what the carrying amount would have been had the impairment not previously been recognised.
4. Tangible assets
Freehold property
Plant and machinery
Fixtures and fittings
Total
£
£
£
£
Cost
At 1 July 2023
355,858
248,451
( 10,017)
594,292
Disposals
( 355,858)
( 248,451)
( 604,309)
---------
---------
--------
---------
At 30 June 2024
( 10,017)
( 10,017)
---------
---------
--------
---------
Depreciation
At 1 July 2023
213,008
( 10,682)
202,326
Charge for the year
1,624
167
1,791
Disposals
( 214,632)
( 214,632)
---------
---------
--------
---------
At 30 June 2024
( 10,515)
( 10,515)
---------
---------
--------
---------
Carrying amount
At 30 June 2024
498
498
---------
---------
--------
---------
At 30 June 2023
355,858
35,443
665
391,966
---------
---------
--------
---------
5. Debtors
2024
2023
£
£
Trade debtors
1,212
Other debtors
290,029
716
---------
-------
290,029
1,928
---------
-------
6. Creditors: amounts falling due within one year
2024
2023
£
£
Bank loans and overdrafts
10,770
Other creditors
84,419
93,763
--------
---------
84,419
104,533
--------
---------
7. Creditors: amounts falling due after more than one year
2024
2023
£
£
Bank loans and overdrafts
309,365
Other creditors
207,228
190,191
---------
---------
207,228
499,556
---------
---------
8. Directors' advances, credits and guarantees
At the year end date and included as 'other creditors' at note 9 above are loans from the directors and family totalling £207,228 (2023: £190,191). These loans are not subject to formal repayment terms if, as agreed, not to be repaid until at least twelve months after the accounting reference date, and are not subject to interest charges.
9. Related party transactions
Included within 'other creditors' at note 7 above is a loan liability to a related party company in the sum of £76,970 (2023: £72,720). The loan is not subject to any formal repayment terms and interest is not being charged or accrued thereon.