Arrowfield Developments Limited - Accounts to registrar (filleted) - small 18.2

REGISTERED NUMBER: 09270215 (England and Wales)

UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 OCTOBER 2020

FOR

ARROWFIELD DEVELOPMENTS LIMITED

Page

Balance Sheet

1

Notes to the Financial Statements

2

FIXED ASSETS

Tangible assets

4

795

-

CURRENT ASSETS

Stocks

1,577,673

581,761

Debtors

5

46,421

23,306

Cash at bank

49,252

81,968

1,673,346

687,035

CREDITORS

Amounts falling due within one year

6

1,301,774

273,588

NET CURRENT ASSETS

371,572

413,447

TOTAL ASSETS LESS CURRENT LIABILITIES

372,367

413,447

CAPITAL AND RESERVES

Called up share capital

100

100

Retained earnings

372,267

413,347

372,367

413,447

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 October 2020.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 October 2020 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 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 Statement of Income and Retained Earnings has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 5 April 2021 and were signed on its behalf by:

D W Wilson - Director

1.	STATUTORY INFORMATION

Arrowfield Developments Limited is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address are as below:

Registered number:

09270215

Registered office:

Quarry House

Hutts Lane

Grewelthorpe

Ripon

North Yorkshire

HG4 3DA

The presentation currency of the financial statements is the Pound Sterling, which is the functional currency of the company, rounded to the nearest £1.

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

The turnover shown in the profit and loss account represents amounts invoiced during the year, exclusive of Value Added Tax.

Revenue in respect of house sales is recognised on legal completion.

In respect of contracts for on-going services, turnover represents the value of work done in the year, including estimates of amounts not invoiced. Turnover in respect of contracts for on-going services is recognised by reference to the stage of completion.

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

-

15% on reducing balance

Tangible fixed assets under the cost model are stated at historical cost less accumulated depreciation and any accumulated impairment losses.

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.

Debtors

Short term debtors are measured at transaction price, less any impairment.

Creditors

Short term creditors are measured at the transaction price.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 4 (2019 - 4 ) .

4.	TANGIBLE FIXED ASSETS

Plant and

machinery

£

COST

Additions

795

At 31 October 2020

795

NET BOOK VALUE

At 31 October 2020

795

5.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.10.20

31.10.19

£

£

Trade debtors

893

556

Other debtors

9,823

5,000

VAT

27,170

12,715

Prepayments and accrued income

8,535

5,035

46,421

23,306

6.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.10.20

31.10.19

£

£

Trade creditors

81,993

32,024

Social security and other taxes

582

36,548

Other creditors

1,184,009

200,585

Directors' current accounts

20,087

87

Accruals and deferred income

15,103

4,344

1,301,774

273,588