Arc Design Associates (UK) Limited - Period Ending 2014-12-31

Registration number: 05642959

Arc Design Associates (UK) Limited

Unaudited Abbreviated Accounts

for the Year Ended 31 December 2014
 

Thomas Alexander & Co Ltd
590 Green Lanes
Palmers Green
London
N13 5RY

Arc Design Associates (UK) Limited
Contents

Abbreviated Balance Sheet 1

Notes to the Abbreviated Accounts 2 to 3

Arc Design Associates (UK) Limited
(Registration number: 05642959)
Abbreviated Balance Sheet at 31 December 2014

		Note			2014 £			2013 £
Fixed assets
Tangible fixed assets					1,299			1,309
Current assets
Stocks					6,784			1,531
Debtors					88,250			97,336
Cash at bank and in hand					107,756			38,454
					202,790			137,321
Creditors: Amounts falling due within one year					(87,415)			(33,758)
Net current assets					115,375			103,563
Total assets less current liabilities					116,674			104,872
Provisions for liabilities					(472)			(472)
Net assets					116,202			104,400
Capital and reserves
Called up share capital		3			100			100
Profit and loss account					116,102			104,300
Shareholders' funds					116,202			104,400

For the year ending 31 December 2014 the company was entitled to exemption under section 477 of the Companies Act 2006 relating to small companies.

The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

These accounts have been prepared in accordance with the provisions applicable to companies subject to the small companies regime .

Approved by the Board on 24 August 2015 and signed on its behalf by:

.........................................
S Adams
Director

The notes on pages 2 to 3 form an integral part of these financial statements.
Page 1

Arc Design Associates (UK) Limited
Notes to the Abbreviated Accounts for the Year Ended 31 December 2014
......... continued

1	Accounting policies

Basis of preparation

The full financial statements, from which these abbreviated accounts have been extracted, have been prepared under the historical cost convention and in accordance with the Financial Reporting Standard for Smaller Entities (Effective April 2008).

Turnover

Turnover represents amounts chargeable, net of value added tax, in respect of the sale of goods and services to customers.

Goodwill

Positive goodwill is capitalised, classified as an asset on the balance sheet and amortised on a straight line basis over its useful economic life. It is reviewed for impairment at the end of the first full financial year following the acquisition and in other periods if events or changes in circumstances indicate that the carrying value may not be recoverable.

Asset class	Amortisation method and rate
Goodwill	Useful economic life

Depreciation

Depreciation is provided on tangible fixed assets so as to write off the cost or valuation, less any estimated residual value, over their expected useful economic life as follows:

Asset class	Depreciation method and rate
Fixtures, fittings & equipment	15% reducing balance method

Work in progress

Work in progress is valued at the lower of cost and net realisable value, after due regard for obsolete and slow moving stocks. Net realisable value is based on selling price less anticipated costs to completion and selling costs. Cost includes all direct costs and an appropriate proportion of fixed and variable overheads.

Deferred tax

Deferred tax is recognised, without discounting, in respect of all timing differences between the treatment of certain items for taxation and accounting purposes, which have arisen but not reversed by the balance sheet date, except as required by the FRSSE. Deferred tax is measured at the rates that are expected to apply in the periods when the timing differences are expected to reverse, based on the tax rates and law enacted at the balance sheet date.

Hire purchase and leasing

Rentals payable under operating leases are charged in the profit and loss account on a straight line basis over the lease term.

Page 2

Arc Design Associates (UK) Limited
Notes to the Abbreviated Accounts for the Year Ended 31 December 2014
......... continued

Financial instruments

Financial instruments are classified and accounted for, according to the substance of the contractual arrangement, as financial assets, financial liabilities or equity instruments. An equity instrument is any contract that evidences a residual interest in the assets of the company after deducting all of its liabilities. Where shares are issued, any component that creates a financial liability of the company is presented as a liability in the balance sheet. The corresponding dividends relating to the liability component are charged as interest expense in the profit and loss account.

2	Fixed assets

		Intangible assets £			Tangible assets £			Total £
Cost
At 1 January 2014		62,000			12,179			74,179
Additions		-			2,107			2,107
At 31 December 2014		62,000			14,286			76,286
Depreciation
At 1 January 2014		62,000			10,870			72,870
Charge for the year		-			2,117			2,117
At 31 December 2014		62,000			12,987			74,987
Net book value
At 31 December 2014		-			1,299			1,299
At 31 December 2013		-			1,309			1,309

3	Share capital

Allotted, called up and fully paid shares

	2014						2013
		No.			£			No.			£
Ordinary shares of £1 each		100			100			100			100

Page 3