Arrowhead Rockdrill Company Limited 30/04/2021 iXBRL
Arrowhead Rockdrill Company Limited 30/04/2021 iXBRL
Company registration number:
03246725
Contents
Directors and other information
Statement of financial position
Notes to the financial statements
Directors and other information
Directors |
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Secretary |
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Company number |
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Registered office |
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Accountants |
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Brookdale | ||
41 Clarence Road | ||
Chesterfield | ||
Derbyshire | ||
S40 1LH | ||
Bankers |
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Leicester | ||
LE87 2BB | ||
Statement of financial position
30 April 2021
2021 | 2020 | ||||||||
Note | £ | £ | £ | £ | |||||
Fixed assets | |||||||||
Tangible assets | 5 | - |
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- |
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Current assets | |||||||||
Stocks |
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Debtors | 6 |
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Cash at bank and in hand |
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Creditors: amounts falling due | |||||||||
within one year | 7 |
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Net current assets |
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Total assets less current liabilities |
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Creditors: amounts falling due | |||||||||
after more than one year | 8 | - |
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Net assets |
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Capital and reserves | |||||||||
Called up share capital |
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Profit and loss account |
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Shareholders funds |
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Directors responsibilities:
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The members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476;
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The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements.
In accordance with section 444 of the Companies Act 2006, the statement of comprehensive income has not been delivered.
These financial statements were approved by the
board of directors
and authorised for issue on
14 January 2022
, and are signed on behalf of the board by:
Director
Company registration number:
03246725
Notes to the financial statements
Year ended 30 April 2021
1.
General information
The company is a private company limited by shares, registered in England & Wales. The address of the registered office is Hema Works, Station Lane, Old Whittington, Chesterfield, S41 9QX.
2.
Statement of compliance
3.
Accounting policies
Basis of preparation
Turnover
Turnover is measured at the fair value of the consideration received or receivable for goods supplied and services rendered, net of discounts and Value Added Tax.
Revenue from the sale of goods is recognised when the significant risks and rewards of ownership have transferred to the buyer (usually on despatch of the goods); the amount of revenue can be measured reliably; it is probable that the associated economic benefits will flow to the entity; and the costs incurred or to be incurred in respect of the transactions can be measured reliably.
Taxation
Tangible assets
Depreciation
Depreciation is calculated so as to write off the cost or valuation of an asset, less its residual value, over the useful economic life of that asset as follows:
Freehold property | - |
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Impairment
Stocks
Financial instruments
Financial assets that are measured at cost or amortised cost are reviewed for objective evidence of impairment at the end of each reporting date. If there is objective evidence of impairment, an impairment loss is recognised in profit or loss immediately. For all equity instruments regardless of significance, and other financial assets that are individually significant, these are assessed individually for impairment. Other financial assets or either assessed individually or grouped on the basis of similar credit risk characteristics. Any reversals of impairment are recognised in profit or loss immediately, to the extent that the reversal does not result in a carrying amount of the financial asset that exceeds what the carrying amount would have been had the impairment not previously been recognised.
Defined contribution plans
4.
Employee numbers
The average number of persons employed by the company during the year amounted to
29
(2020:
29
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5.
Tangible assets
Freehold property | Total | ||
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Cost | |||
At 1 May 2020 |
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Disposals |
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At 30 April 2021 | - | - | |
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Depreciation | |||
At 1 May 2020 and 30 April 2021 | - | - | |
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Carrying amount | |||
At 30 April 2021 | - | - | |
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At 30 April 2020 |
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6.
Debtors
2021 | 2020 | |||
£ | £ | |||
Trade debtors |
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Amounts owed by group undertakings and undertakings in which the company has a participating interest |
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Other debtors |
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The debtors above include the following amounts falling due after more than one year:
2021 | 2020 | |||
£ | £ | |||
Amounts owed by group undertakings and undertakings in which the company has a participating interest |
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7.
Creditors: amounts falling due within one year
2021 | 2020 | |||
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Bank loans and overdrafts |
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Trade creditors |
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Amounts owed to group undertakings and undertakings in which the company has a participating interest |
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Social security and other taxes |
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Other creditors |
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The company meets its day to day working capital requirements through bank overdraft and loan facilities for which security has been given by the company and which, in common with such facilities, are repayable on demand. The company is operating within its agreed facilities and the directors expect it to be able to continue doing so for at least one year from which they approved the financial statements. In view of their relationship with the company's bankers the directors consider it reasonable to rely on the continuation of the overdraft and loan facilities.
8.
Creditors: amounts falling due after more than one year
2021 | 2020 | |||
£ | £ | |||
Bank loans and overdrafts | - |
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Included within creditors: amounts falling due after more than one year is an amount of £ -
(2020 £ 97,523 ) in respect of liabilities payable or repayable by instalments which fall due for payment after more than five years from the reporting date.
The company has a bank loan, payable in monthly installments, over fifteen years at an annual interest rate of 3.2%
9.
Related party transactions
The company has taken advantage of the exemption provided by Paragraph 33.1A of FRS 102 that says disclosures need not be given of transactions that have taken place between group members. In addition to transactions with group members, the company also sold goods totalling £206,726 (2020: £338,634) to Crossbow Inc, a company registered in the USA, in which Alan Taylor and Sheena Taylor have an interest. An amount of £621,973 (2020: £539,666) was due from Crossbow Inc at 30 April 2021. In addition to this there was an interest free loan of £453,000 (2020: £551,000) at the year end. During the year the company also purchased goods from Crossbow Inc in the amount of £2,844 (2020: £9,431). There was no balance as at 30 April 2021.
10.
Controlling party
11.
Other
Guarantees have been given to Barclays Bank plc in respect of borrowings by other members of the Hydrodyne Systems group. In the opinion of the directors no liability will arise in connection with these guarantees.