Arktech (NE) Limited - Abbreviated accounts 16.3

REGISTERED NUMBER: 06959801 (England and Wales)

ABBREVIATED ACCOUNTS

FOR THE YEAR ENDED 31 AUGUST 2016

FOR

ARKTECH (NE) LIMITED

Page

Company Information

1

Abbreviated Balance Sheet

2

Notes to the Abbreviated Accounts

4

DIRECTORS:

P Davison

B Stansfield

S Bates

SECRETARY:

S Bates

REGISTERED OFFICE:

1 Lee Close

Pattinson North Industrial Estate

Washington

Tyne and Wear

NE38 8QF

REGISTERED NUMBER:

06959801 (England and Wales)

ACCOUNTANTS:

Ribchesters

Chartered Accountants

Finchale House

Belmont Business Park

Durham

DH1 1TW

FIXED ASSETS

Intangible assets

2

17,999

23,999

Tangible assets

3

165,699

173,180

183,698

197,179

CURRENT ASSETS

Debtors

289,380

327,474

Cash at bank and in hand

40,373

610,721

329,753

938,195

CREDITORS

Amounts falling due within one year

4

303,304

349,940

NET CURRENT ASSETS

26,449

588,255

TOTAL ASSETS LESS CURRENT
LIABILITIES

210,147

785,434

CREDITORS

Amounts falling due after more than one
year

4

-

(20,127

)

PROVISIONS FOR LIABILITIES

(6,345

)

(7,185

)

NET ASSETS

203,802

758,122

CAPITAL AND RESERVES

Called up share capital

5

140

200

Revaluation reserve

20,671

21,098

Capital redemption reserve

60

-

Profit and loss account

182,931

736,824

SHAREHOLDERS' FUNDS

203,802

758,122

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 August 2016.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 August 2016 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 abbreviated accounts have been prepared in accordance with the special provisions of Part 15 of the Companies Act 2006 relating to small companies.

The financial statements were approved by the Board of Directors on 10 January 2017 and were signed on its behalf by:

B Stansfield - Director

1.	ACCOUNTING POLICIES

Accounting convention

The financial statements have been prepared under the historical cost convention as modified by the revaluation

of certain assets and in accordance with the Financial Reporting Standard for Smaller Entities (effective January

2015).

Turnover

Turnover represents invoiced sales of goods & services as per the principal activity, net of value added tax.

In respect of turnover arising from contractual arrangements, income is attributed to the profit and loss account

as contract activity progresses in a manner appropriate to the stage of completion of each individual contract.

Goodwill

Goodwill, being the amount paid in connection with the acquisition of a business in 2009, is being amortised evenly over its estimated useful life of ten years.

Tangible fixed assets

Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.

Land and buildings

-

2% on cost

Plant and machinery etc

-

25% on cost and 25% on reducing balance

Deferred tax

Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance

sheet date.

Hire purchase and leasing commitments

Rentals paid under operating leases are charged to the profit and loss account on a straight line basis over the

period of the lease.

2.	INTANGIBLE FIXED ASSETS

Total

£

COST

At 1 September 2015

and 31 August 2016

59,999

AMORTISATION

At 1 September 2015

36,000

Amortisation for year

6,000

At 31 August 2016

42,000

NET BOOK VALUE

At 31 August 2016

17,999

At 31 August 2015

23,999

3.	TANGIBLE FIXED ASSETS

Total

£

COST OR VALUATION

At 1 September 2015

203,295

Additions

6,217

At 31 August 2016

209,512

DEPRECIATION

At 1 September 2015

30,115

Charge for year

13,698

At 31 August 2016

43,813

NET BOOK VALUE

At 31 August 2016

165,699

At 31 August 2015

173,180

4.

CREDITORS

Creditors include an amount of £ 0 (2015 - £ 38,215 ) for which security has been given.

5.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

2016

2015

value:

£

40

Ordinary

£1

40

100

Classes A-E

£1

100

140

200

During the year, the company purchased and cancelled, 60 ordinary £1.00 shares, reducing its issued share

capital from £200 to £140. This purchase was fully financed and funded from the accumulated distributable

profit and loss reserves of the company.