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Registration number: SC292397

Arc Marquees Limited

Unaudited Filleted Financial Statements

for the Year Ended 31 October 2024

 

Arc Marquees Limited

Contents

Balance Sheet

1 to 2

Notes to the Unaudited Financial Statements

3 to 9

 

Arc Marquees Limited

(Registration number: SC292397)
Balance Sheet as at 31 October 2024

Note

2024
£

2023
£

Fixed assets

 

Tangible assets

4

1,407,648

1,313,619

Current assets

 

Debtors

5

296,076

125,721

Cash at bank and in hand

 

643,803

388,153

 

939,879

513,874

Creditors: Amounts falling due within one year

6

(838,230)

(714,675)

Net current assets/(liabilities)

 

101,649

(200,801)

Total assets less current liabilities

 

1,509,297

1,112,818

Creditors: Amounts falling due after more than one year

6

(61,697)

(101,225)

Provisions for liabilities

(348,041)

(274,137)

Net assets

 

1,099,559

737,456

Capital and reserves

 

Called up share capital

13,800

13,800

Share premium reserve

8,200

8,200

Retained earnings

1,077,559

715,456

Shareholders' funds

 

1,099,559

737,456

For the financial year ending 31 October 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 of its accounts for the year in question in accordance with section 476; and

The directors acknowledge their responsibilities for
(a) ensuring that the company keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006 and
(b) preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of the financial year and of its profit or loss for each financial year in accordancce with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the company.

 

Arc Marquees Limited

(Registration number: SC292397)
Balance Sheet as at 31 October 2024 (continued)

These financial statements have been prepared in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006.

These financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime. As permitted by section 444 (5A) of the Companies Act 2006, the directors have not delivered to the registrar a copy of the Profit and Loss Account.

Approved and authorised by the Board on 18 July 2025 and signed on its behalf by:
 

.........................................
D M Thomson
Director

.........................................
E R Scovell
Company secretary and director

 

Arc Marquees Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 October 2024

1

General information

The company is a private company limited by share capital, incorporated in Scotland.

The address of its registered office is:
Algo Business Centre
Glenearn Road
Perth
PH2 0NJ

These financial statements were authorised for issue by the Board on 18 July 2025.

2

Accounting policies

Summary of significant accounting policies and key accounting estimates

The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.

Statement of compliance

Basis of preparing the financial statements
These financial statements have been prepared in accordance with the provisions of Section 1A "Small Entities" of Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.

The exemptions under section 1A regarding cashflow statement and under s414B of the Companies Act regarding the strategic report have been taken this year.
 

Revenue recognition

Turnover comprises the fair value of the consideration received or receivable for the sale of goods and provision of services in the ordinary course of the company’s activities. Turnover is shown net of sales/value added tax, returns, rebates and discounts.

The company recognises revenue when:
The amount of revenue can be reliably measured;
it is probable that future economic benefits will flow to the entity;
and specific criteria have been met for each of the company's activities.

Tax

The tax expense for the period comprises current and deferred tax. Tax is recognised in profit or loss, except that a change attributable to an item of income or expense recognised as other comprehensive income is also recognised directly in other comprehensive income.

 

Arc Marquees Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 October 2024 (continued)

2

Accounting policies (continued)

The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the reporting date in the countries where the company operates and generates taxable income.

Deferred tax is recognised in respect of all timing differences between taxable profits and profits reported in the financial statements.

Unrelieved tax losses and other deferred tax assets are recognised when 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.

Depreciation

Depreciation is charged so as to write off the cost of assets, other than land and properties under construction over their estimated useful lives, as follows:

Asset class

Depreciation method and rate

Furniture, fittings and equipment

Varying rates on cost

Motor vehicles

25% on reducing balance

Borrowings

Interest-bearing borrowings are initially recorded at fair value, net of transaction costs. Interest-bearing borrowings are subsequently carried at amortised cost, with the difference between the proceeds, net of transaction costs, and the amount due on redemption being recognised as a charge to the profit and loss account over the period of the relevant borrowing.

Interest expense is recognised on the basis of the effective interest method and is included in interest payable and similar charges.

Borrowings are classified as current liabilities unless the company has an unconditional right to defer settlement of the liability for at least twelve months after the reporting date.

 

Arc Marquees Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 October 2024 (continued)

2

Accounting policies (continued)

Leases

Leases in which substantially all the risks and rewards of ownership are retained by the lessor are classified as operating leases. Payments made under operating leases are charged to profit or loss on a straight-line basis over the period of the lease.

Leases are classified as finance leases whenever the terms of the lease transfer substantially all the risks and rewards of ownership to the lessee.

Assets held under finance leases are recognised at the lower of their fair value at inception of the lease and the present value of the minimum lease payments. These assets are depreciated on a straight-line basis over the shorter of the useful life of the asset and the lease term. The corresponding liability to the lessor is included in the balance sheet as a finance lease obligation.

Lease payments are apportioned between finance costs in the profit and loss account and reduction of the lease obligation so as to achieve a constant periodic rate of interest on the remaining balance of the liability.

Share capital

Ordinary shares are classified as equity. Equity instruments are measured at the fair value of the cash or other resources received or receivable, net of the direct costs of issuing the equity instruments. If payment is deferred and the time value of money is material, the initial measurement is on a present value basis.

Dividends

Dividend distribution to the company’s shareholders is recognised as a liability in the financial statements in the reporting period in which the dividends are declared.

Defined contribution pension obligation

A defined contribution plan is a pension plan under which fixed contributions are paid into a pension fund and the company has no legal or constructive obligation to pay further contributions even if the fund does not hold sufficient assets to pay all employees the benefits relating to employee service in the current and prior periods.

Contributions to defined contribution plans are recognised as employee benefit expense when they are due. If contribution payments exceed the contribution due for service, the excess is recognised as a prepayment.

3

Staff numbers

The average number of persons employed by the company (including directors) during the year, was 29 (2023 - 26).

 

Arc Marquees Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 October 2024 (continued)

4

Tangible assets

Furniture, fittings and equipment
 £

Motor vehicles
 £

Total
£

Cost or valuation

At 1 November 2023

2,380,709

294,761

2,675,470

Additions

306,979

47,134

354,113

Disposals

-

(28,559)

(28,559)

At 31 October 2024

2,687,688

313,336

3,001,024

Depreciation

At 1 November 2023

1,243,921

117,930

1,361,851

Charge for the year

202,960

52,995

255,955

Eliminated on disposal

-

(24,430)

(24,430)

At 31 October 2024

1,446,881

146,495

1,593,376

Carrying amount

At 31 October 2024

1,240,807

166,841

1,407,648

At 31 October 2023

1,136,788

176,831

1,313,619

 

Arc Marquees Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 October 2024 (continued)

5

Debtors

2024
£

2023
£

Trade debtors

174,447

2,809

Prepayments

65,439

63,791

Other debtors

56,190

59,121

296,076

125,721

6

Creditors

Creditors: amounts falling due within one year

Note

2024
£

2023
£

Due within one year

 

Loans and borrowings

7

46,581

85,179

Trade creditors

 

55,225

146,561

Taxation and social security

 

226,820

69,325

Accruals and deferred income

 

53,850

2,800

Other creditors

 

455,754

410,810

 

838,230

714,675

Creditors: amounts falling due after more than one year

Note

2024
£

2023
£

Due after one year

 

Loans and borrowings

7

61,697

101,225


 

Arc Marquees Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 October 2024 (continued)

7

Loans and borrowings

Current loans and borrowings

2024
£

2023
£

Hire purchase contracts

46,581

85,179

Non-current loans and borrowings

2024
£

2023
£

Hire purchase contracts

10,684

25,213

Other borrowings

51,013

76,012

61,697

101,225

Hire purhase contracts are secured over the assets to which they relate and bear interest at varying rates from 4.9% to 9.75%.

Other borrowings are unsecured and do not bear interest.

8

Related party transactions

Transactions with directors

2024

At 1 November 2023
£

Advances to director
£

Repayments by director
£

At 31 October 2024
£

E R Scovell

Loan to director

51,847

70,006

(73,582)

48,271

The loan to Mr Scovell is due for repayment by 31 July 2024.

 

Arc Marquees Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 October 2024 (continued)

8

Related party transactions (continued)

2023

At 1 November 2022
£

Advances to director
£

Repayments by director
£

At 31 October 2023
£

E R Scovell

Loan to director

42,705

78,998

(69,856)

51,847