ARC Devon Construction Ltd - Accounts to registrar (filleted) - small 18.2

REGISTERED NUMBER: 09240381 (England and Wales)

Unaudited Financial Statements for the Year Ended 30 September 2019

for

ARC Devon Construction Ltd

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

3

DIRECTOR:

L J Kent

REGISTERED OFFICE:

c/o Baines & Co

46 Rolle Street

Exmouth

Devon

EX8 2SQ

REGISTERED NUMBER:

09240381 (England and Wales)

ACCOUNTANTS:

Baines & Co

46 Rolle Street

Exmouth

Devon

EX8 2SQ

BANKERS:

NatWest Bank plc

11 Rolle Street

Exmouth

Devon

EX8 1HJ

FIXED ASSETS

Tangible assets

4

11,822

17,964

CURRENT ASSETS

Stocks

5

25,300

300

Debtors

6

1,801

84

Cash at bank

675

38,882

27,776

39,266

CREDITORS

Amounts falling due within one year

7

12,958

26,717

NET CURRENT ASSETS

14,818

12,549

TOTAL ASSETS LESS CURRENT LIABILITIES

26,640

30,513

PROVISIONS FOR LIABILITIES

8

2,246

3,413

NET ASSETS

24,394

27,100

CAPITAL AND RESERVES

Called up share capital

9

2

2

Retained earnings

10

24,392

27,098

SHAREHOLDERS' FUNDS

24,394

27,100

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

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

The director acknowledges his 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 and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered.

The financial statements were approved by the director and authorised for issue on 15 April 2020 and were signed by:

L J Kent - Director

1.	STATUTORY INFORMATION

ARC Devon Construction Ltd 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.

The presentation currency of the financial statements is the Pound Sterling (£).

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.

Turnover

Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates,

value added tax and other sales taxes.

Tangible fixed assets

Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.

Plant and machinery

-

20% on cost

Motor vehicles

-

20% on cost

Computer equipment

-

25% on cost

Stocks

Stocks and work in progress are valued at the lower of cost and net realisable value, after making due allowance

for obsolete and slow moving items.

Cost is calculated using the first-in, first-out method and includes all purchase, transport, and handling costs in

bringing stocks to their present location and condition.

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.

Hire purchase and leasing commitments

Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the

lease.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was NIL (2018 - 1 ).

4.	TANGIBLE FIXED ASSETS

Plant and

Motor

Computer

machinery

vehicles

equipment

Totals

£

£

£

£

COST

At 1 October 2018

and 30 September 2019

9,870

20,095

599

30,564

DEPRECIATION

At 1 October 2018

6,031

6,419

150

12,600

Charge for year

1,973

4,019

150

6,142

At 30 September 2019

8,004

10,438

300

18,742

NET BOOK VALUE

At 30 September 2019

1,866

9,657

299

11,822

At 30 September 2018

3,839

13,676

449

17,964

5.

STOCKS

30.9.19

30.9.18

£

£

Stocks

300

300

Work-in-progress

25,000

-

25,300

300

6.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

30.9.19

30.9.18

£

£

Other debtors

545

-

VAT

931

-

Prepayments

325

84

1,801

84

7.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

30.9.19

30.9.18

£

£

Trade creditors

5,792

10,151

Tax

532

3,302

Social security and other taxes

118

-

VAT

-

4,168

Other creditors

2,764

-

Directors' current accounts

2,697

8,337

Accrued expenses

1,055

759

12,958

26,717

8.	PROVISIONS FOR LIABILITIES

30.9.19

30.9.18

£

£

Deferred tax

2,246

3,413

Deferred

tax

£

Balance at 1 October 2018

3,413

Credit to Income Statement during year

(1,167

)

Balance at 30 September 2019

2,246

9.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

30.9.19

30.9.18

value:

£

£

2

Ordinary

1

2

2

10.

RESERVES

Retained

earnings

£

At 1 October 2018

27,098

Deficit for the year

(2,706

)

At 30 September 2019

24,392

11.	POST BALANCE SHEET EVENTS

There have been no events since the balance sheet date, which will have a material effect on the

financial statements of the company ended on that date.

12.	ULTIMATE CONTROLLING PARTY

The controlling party is L J Kent.

The ultimate controlling party is L J Kent.