Arcontech Solutions Limited - Limited company accounts 18.2

REGISTERED NUMBER: 03818846 (England and Wales)

REPORT OF THE DIRECTORS AND

UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 30 JUNE 2019

FOR

ARCONTECH SOLUTIONS LIMITED

Page

Company Information

1

Report of the Directors

2

Income Statement

3

Balance Sheet

4

Statement of Changes in Equity

5

Notes to the Financial Statements

6

DIRECTORS:

Michael Stewart Levy

Matthew David Jeffs

SECRETARY:

Michael Stewart Levy

REGISTERED OFFICE:

1st Floor

11-21 Paul Street

London

EC2A 4JU

REGISTERED NUMBER:

03818846 (England and Wales)

SOLICITORS:

Faegre Baker Daniels LLP

7 Pilgrim Street

London

EC4V 6LB

The directors present their report with the financial statements of the company for the year ended 30 June 2019.

PRINCIPAL ACTIVITY

The principal activity of the company in the year under review was that of software development and the

provision of financial information over the internet.

DIRECTORS

The directors shown below have held office during the whole of the period from 1 July 2018 to the date of

this report.

Michael Stewart Levy

Matthew David Jeffs

The directors interests in the issued share capital of the parent company are disclosed in the financial

statements of that company.

This report has been prepared in accordance with the provisions of Part 15 of the Companies Act 2006

relating to small companies.

ON BEHALF OF THE BOARD:

Michael Stewart Levy - Secretary

21 August 2019

TURNOVER

-

45,278

Administrative expenses

-

(28,141

)

OPERATING PROFIT and

PROFIT BEFORE TAXATION

-

17,137

Tax on profit

-

PROFIT FOR THE FINANCIAL
YEAR

-

17,137

CURRENT ASSETS

Debtors

3

100

650

CREDITORS

Amounts falling due within one year

4

-

(550

)

NET CURRENT ASSETS

100

TOTAL ASSETS LESS CURRENT
LIABILITIES

100

CAPITAL AND RESERVES

Called up share capital

100

SHAREHOLDERS' FUNDS

100

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30 June 2019.

The members have not required the company to obtain an audit of its financial statements for the year ended 30 June 2019 in accordance with Section 476 of the Companies Act 2006.

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 each financial year and of its profit or loss for each financial year in accordance 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.

The financial statements have been prepared in accordance with the provisions of Part 15 of the Companies Act 2006 relating to small companies.

The financial statements were approved by the Board of Directors on 21 August 2019 and were signed on its
behalf by:

Michael Stewart Levy - Director

Matthew David Jeffs - Director

Called up

share

Retained

Share

Total

capital

earnings

premium

equity

£

Balance at 1 July 2017

100

197,693

250,000

447,793

Changes in equity

Dividends

-

(464,830

)

-

(464,830

)

Total comprehensive income

-

17,137

-

17,137

Cancellation of share premium

-

250,000

(250,000

)

-

Balance at 30 June 2018

100

-

100

Changes in equity

Balance at 30 June 2019

100

-

100

1.	STATUTORY INFORMATION

Arcontech Solutions Limited is a private company, limited by shares , registered in England and

Wales. The company's registered number and registered office address can be found on the Company

Information page.

2.	ACCOUNTING POLICIES

Basis of preparing the financial statements

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

The following principal accounting policies have been applied:

Turnover

Turnover represents net invoiced sales of services and licence fees receivable, excluding value added

tax.

Taxation

Taxation for the year comprises current and deferred tax. Tax is recognised in the Income Statement,

except to the extent that it relates to items recognised in other comprehensive income or directly in

equity.

Current or deferred taxation assets and liabilities are not discounted.

Current tax is recognised at the amount of tax payable using the tax rates and laws that have been

enacted or substantively enacted by the balance sheet date.

Deferred tax

Deferred tax is recognised in respect of all timing differences that have originated but not reversed at

the balance sheet date.

Timing differences arise from the inclusion of income and expenses in tax assessments in periods

different from those in which they are recognised in financial statements. Deferred tax is measured

using tax rates and laws that have been enacted or substantively enacted by the year end and that are

expected to apply to the reversal of the timing difference.

Unrelieved tax losses and other deferred tax assets are recognised only to the extent that it is probable

that they will be recovered against the reversal of deferred tax liabilities or other future taxable

profits.

Cash flow statement

The company has taken advantage of the exemption in FRS1 (Cash Flow Statements) from the

requirement to prepare a cash flow statement as it qualifies as a wholly owned subsidiary.

3.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2019

2018

£

Amounts owed by group undertakings

100

241

VAT

-

409

100

650

4.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2019

2018

£

Other creditors

-

550

Amounts owed to the parent undertaking are repayable on demand. However, it is not anticipated that

this will be repaid within one year.

5.	RELATED PARTY DISCLOSURES

During the year, fees payable to Michael Levy & Co, Chartered Accountants, in which Michael Levy

is the principal, in respect of accountancy services amounted to £Nil (2018: £9,500). At 30 June 2019

the amount outstanding was £Nil (2018: £Nil).

6.	ULTIMATE CONTROLLING PARTY

The company is a wholly owned subsidiary of Arcontech Group plc which is registered in England &

Wales and is the immediate controlling party.

There is no ultimate controlling party.

The largest and smallest group of companies for which group financial statements are drawn up is that

headed by Arcontech Group plc. Consolidated financial statements of Arcontech Group plc are

available from Companies House.

The company has taken advantage of the exemption under Financial Reporting Standard 8 from

disclosing transactions with other wholly owned group companies that are incorporated within the

financial statements of its parent company Arcontech Group plc.