ARCA (Plymouth) Limited

Notes to the Financial Statements for the Year Ended 31 March 2025

1	General information

The company is a company limited by guarantee, incorporated in England and Wales, and consequently does not have share capital. Each of the members is liable to contribute an amount not exceeding £Nil towards the assets of the company in the event of liquidation.

The address of its registered office is:
Plymouth City Council
Ballard House
West Hoe Road
Plymouth
Devon
PL1 3BJ

Principal activity

The principal activity of the company is that of museums activities.

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

These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A smaller entities - 'The Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland' and the Companies Act 2006 (as applicable to companies subject to the small companies' regime).

Basis of preparation

These financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.

The financial statements are prepared in sterling which is the functional currency of the entity.

ARCA (Plymouth) Limited

Notes to the Financial Statements for the Year Ended 31 March 2025 (continued)

2	Accounting policies (continued)

Audit report

The Independent Auditor's Report was unqualified. The name of the Senior Statutory Auditor who signed the audit report on 31 March 2025 was Adam Croney ACA, who signed for and on behalf of Westcotts (SW) LLP, of Plym House, 3 Longbridge Road, Plymouth, Devon, United Kingdom, PL6 8LT.

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Judgements and key sources of estimation uncertainty

The preparation of the financial statements requires management to make judgements, estimates and assumptions that affect the amounts reported. These estimates and judgements are continually reviewed and are based on experience and other factors, including expectations of future events that are believed to be reasonable under the circumstances.

Accounting estimates and assumptions are made concerning the future and, by their nature, will rarely equal the related actual outcome.

Revenue recognition

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

Admission fees and shop income are recognised at the point of sale, being the delivery of goods and services to customers.

Ticket sales, Informal learning and Provision of facilities and services are recognised at the point of sale as they are all non refundable once purchased.

Sponsorship income is recognised on the earlier of date of agreement or receipt of income as this is non refundable once received.

Membership income is recognised evenly over the period of membership.

Grant income is recognised on the accruals basis.

Government grant income is recognised at fair value of the grant received or receivable.

Tangible assets

Tangible assets are stated in the statement of financial position at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.

The cost of tangible assets includes directly attributable incremental costs incurred in their acquisition and installation.

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:

ARCA (Plymouth) Limited

Notes to the Financial Statements for the Year Ended 31 March 2025 (continued)

2	Accounting policies (continued)

Asset class	Depreciation method and rate
Fixtures and Fittings	20% reducing balance
Computer Equipment	3 years straight line

Stocks

Stocks are measured at the lower of cost and estimated selling price less costs to complete and sell. Costs include all costs of purchase, costs of conversion and other costs incurred in bringing the stocks to their present location and condition.

At each reporting date, stocks are assessed for impairment. If stocks are impaired, the carrying amount is reduced to its selling price less costs to complete and sell; the impairment loss is recognised immediately in profit or loss.

Leases

Rentals paid under operating leases are charged to surplus or deficit on a straight line basis over the period of the lease.

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.

Multi employer plans

Grants paid are recognised at the point where the recipient of the grant is entitled to the funds, which have been agreed by the board.

Financial instruments

Recognition and measurement
A financial asset or a financial liability is recognised only when the company becomes 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.

3	Staff numbers

The average number of persons employed by the company (including directors) during the year, was 4 (2024 - 5).

ARCA (Plymouth) Limited

Notes to the Financial Statements for the Year Ended 31 March 2025 (continued)

4	Tangible assets

	Fixtures and fittings £	Computer equipment £	Total £
Cost or valuation
At 1 April 2024	25,294	36,883	62,177
At 31 March 2025	25,294	36,883	62,177
Depreciation
At 1 April 2024	9,432	19,388	28,820
Charge for the year	3,172	9,438	12,610
At 31 March 2025	12,604	28,826	41,430
Carrying amount
At 31 March 2025	12,690	8,057	20,747
At 31 March 2024	15,862	17,495	33,357

ARCA (Plymouth) Limited

Notes to the Financial Statements for the Year Ended 31 March 2025 (continued)

5

Stocks

	2025 £	2024 £
Finished goods and goods for resale	43,044	46,065

6

Debtors

	2025 £	2024 £
Trade debtors	231,657	96,369
Other debtors	24,779	187,369
Prepayments	31,678	23,245
	288,114	306,983

7

Creditors

Creditors: amounts falling due within one year

	2025 £	2024 £
Due within one year
Trade creditors	45,243	38,409
Taxation and social security	65,230	21,109
Other creditors	2,732,512	2,082,665
	2,842,985	2,142,183

8	Parent and ultimate parent undertaking

The ultimate controlling party is Plymouth City Council.