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 2020

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

8,469

11,822

CURRENT ASSETS

Stocks

5

37,100

25,300

Debtors

6

802

1,801

Cash at bank

2,758

675

40,660

27,776

CREDITORS

Amounts falling due within one year

7

42,614

12,958

NET CURRENT (LIABILITIES)/ASSETS

(1,954

)

14,818

TOTAL ASSETS LESS CURRENT LIABILITIES

6,515

26,640

PROVISIONS FOR LIABILITIES

8

1,320

2,246

NET ASSETS

5,195

24,394

CAPITAL AND RESERVES

Called up share capital

9

2

2

Retained earnings

10

5,193

24,392

SHAREHOLDERS' FUNDS

5,195

24,394

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30 September 2020.

The members have not required the company to obtain an audit of its financial statements for the year ended 30 September 2020 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 24 May 2021 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 1 (2019 - NIL ) .

4.	TANGIBLE FIXED ASSETS

Plant and

Motor

Computer

machinery

vehicles

equipment

Totals

£

£

£

£

COST

At 1 October 2019

9,870

20,095

599

30,564

Additions

1,521

-

-

1,521

At 30 September 2020

11,391

20,095

599

32,085

DEPRECIATION

At 1 October 2019

8,004

10,438

300

18,742

Charge for year

1,305

3,419

150

4,874

At 30 September 2020

9,309

13,857

450

23,616

NET BOOK VALUE

At 30 September 2020

2,082

6,238

149

8,469

At 30 September 2019

1,866

9,657

299

11,822

5.

STOCKS

30.9.20

30.9.19

£

£

Stocks

2,100

300

Work-in-progress

35,000

25,000

37,100

25,300

6.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

30.9.20

30.9.19

£

£

Other debtors

545

545

VAT

-

931

Prepayments

257

325

802

1,801

7.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

30.9.20

30.9.19

£

£

Trade creditors

10,751

5,792

Tax

4,004

532

Social security and other taxes

102

118

VAT

1,675

-

Other creditors

1,042

2,764

Directors' current accounts

23,590

2,697

Accrued expenses

1,450

1,055

42,614

12,958

8.	PROVISIONS FOR LIABILITIES

30.9.20

30.9.19

£

£

Deferred tax

1,320

2,246

Deferred

tax

£

Balance at 1 October 2019

2,246

Provided during year

(926

)

Balance at 30 September 2020

1,320

9.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

30.9.20

30.9.19

value:

£

£

2

Ordinary

1

2

2

10.

RESERVES

Retained

earnings

£

At 1 October 2019

24,392

Profit for the year

10,801

Dividends

(30,000

)

At 30 September 2020

5,193

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.