Arc Estates Limited Filleted accounts for Companies House (small and micro)

ARC ESTATES LIMITED - Company Information

0 false false false false false false false false false true false false false false false false No description of principal activity 2022-09-01 Sage Accounts Production Advanced 2021 - FRS102_2021 26,414 26,414 xbrli:pure xbrli:shares iso4217:GBP 02628667 2022-09-01 2023-08-31 02628667 2023-08-31 02628667 2022-08-31 02628667 core:FurnitureFittings 2022-09-01 2023-08-31 02628667 core:MotorVehicles 2022-09-01 2023-08-31 02628667 bus:Director1 2022-09-01 2023-08-31 02628667 core:FurnitureFittings 2023-08-31 02628667 core:WithinOneYear 2023-08-31 02628667 core:WithinOneYear 2022-08-31 02628667 core:ShareCapital 2023-08-31 02628667 core:ShareCapital 2022-08-31 02628667 core:RetainedEarningsAccumulatedLosses 2023-08-31 02628667 core:RetainedEarningsAccumulatedLosses 2022-08-31 02628667 bus:SmallEntities 2022-09-01 2023-08-31 02628667 bus:AuditExempt-NoAccountantsReport 2022-09-01 2023-08-31 02628667 bus:FullAccounts 2022-09-01 2023-08-31 02628667 bus:SmallCompaniesRegimeForAccounts 2022-09-01 2023-08-31 02628667 bus:PrivateLimitedCompanyLtd 2022-09-01 2023-08-31

COMPANY REGISTRATION NUMBER: 02628667

ARC ESTATES LIMITED

FILLETED UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED

31 August 2023

ARC ESTATES LIMITED

FINANCIAL STATEMENTS

YEAR ENDED 31 AUGUST 2023

Contents	Page

Statement of financial position	1

Notes to the financial statements	2

ARC ESTATES LIMITED

STATEMENT OF FINANCIAL POSITION

31 August 2023

	2023	2022
Note	£	£

CURRENT ASSETS

Debtors	5	–	46,922
Cash at bank and in hand		5,190	73,131
		-------	---------
		5,190	120,053

CREDITORS: amounts falling due within one year	6	( 3,340)	( 96,496)
		-------	---------
NET CURRENT ASSETS		1,850	23,557
		-------	--------
TOTAL ASSETS LESS CURRENT LIABILITIES		1,850	23,557
		-------	--------
NET ASSETS		1,850	23,557
		-------	--------

CAPITAL AND RESERVES

Called up share capital	2	2
Profit and loss account	1,848	23,555
	-------	--------
SHAREHOLDERS FUNDS	1,850	23,557
	-------	--------

These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with Section 1A of FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.

In accordance with section 444 of the Companies Act 2006, the statement of income and retained earnings has not been delivered.

For the year ending 31 August 2023 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Directors' responsibilities:

- 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 ;

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

These financial statements were approved by the board of directors and authorised for issue on 3 October 2023 , and are signed on behalf of the board by:

Mr R Sacker

Director

Company registration number: 02628667

ARC ESTATES LIMITED

NOTES TO THE FINANCIAL STATEMENTS

YEAR ENDED 31 AUGUST 2023

1. General information

The company is a private company limited by shares, registered in England and Wales. The address of the registered office is Lynton House, 7 - 12 Tavistock Square, London, WC1H 9BQ.

2. Statement of compliance

These financial statements have been prepared in compliance with Section 1A of FRS 102, 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland'.

3. Accounting policies

Basis of preparation

The financial statements have been prepared on the historical cost basis, as modified by the revaluation of certain financial assets and liabilities and investment properties measured at fair value through profit or loss.

The financial statements are prepared in sterling, which is the functional currency of the entity.

Income tax

The taxation expense represents the aggregate amount of current and deferred tax recognised in the reporting period. Tax is recognised in profit or loss, except to the extent that it relates to items recognised in other comprehensive income or directly in equity. In this case, tax is recognised in other comprehensive income or directly in equity, respectively. Current tax is recognised on taxable profit for the current and past periods. Current tax is measured at the amounts of tax expected to pay or recover using the tax rates and laws that have been enacted or substantively enacted at the reporting date.

Deferred tax is recognised in respect of all timing differences at the reporting date. Unrelieved tax losses and other deferred tax assets are recognised to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date that are expected to apply to the reversal of the timing difference.

Tangible assets

All fixed assets are initially recorded at cost. Where unlisted investments have been revalued these are stated at market value.

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:

Fixtures, fittings and equipment	-	20% straight line
Motor vehicles	-	25% straight line

Impairment of fixed assets

A review for indicators of impairment is carried out at each reporting date, with the recoverable amount being estimated where such indicators exist. Where the carrying value exceeds the recoverable amount, the asset is impaired accordingly. Prior impairments are also reviewed for possible reversal at each reporting date. For the purposes of impairment testing, when it is not possible to estimate the recoverable amount of an individual asset, an estimate is made of the recoverable amount of the cash-generating unit to which the asset belongs. The cash-generating unit is the smallest identifiable group of assets that includes the asset and generates cash inflows that largely independent of the cash inflows from other assets or groups of assets. For impairment testing of goodwill, the goodwill acquired in a business combination is, from the acquisition date, allocated to each of the cash-generating units that are expected to benefit from the synergies of the combination, irrespective of whether other assets or liabilities of the company are assigned to those units.

Financial instruments

Financial instruments are classified and accounted for, according to the substance of the contractual arrangement, as either 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.

4. Tangible assets

	Fixtures and fittings	Total
	£	£
Cost
At 1 September 2022 and 31 August 2023	26,414	26,414
	--------	--------
Depreciation
At 1 September 2022 and 31 August 2023	26,414	26,414
	--------	--------
Carrying amount
At 31 August 2023	–	–
	--------	--------
At 31 August 2022	–	–
	--------	--------

5. Debtors

	2023	2022
	£	£
Other debtors	–	46,922
	----	--------

6. Creditors: amounts falling due within one year

	2023	2022
	£	£
Other creditors	3,340	96,496
	-------	--------

The bank overdrafts are secured by a fixed and floating charge over all the company's assets.