Arrowband Limited - Accounts to registrar - small 17.1.1

Arrowband Limited - Accounts to registrar - small 17.1.1

ARROWBAND LIMITED - Company Information

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REGISTERED NUMBER: 02327874 (England and Wales)















UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 SEPTEMBER 2016

FOR

ARROWBAND LIMITED

ARROWBAND LIMITED (REGISTERED NUMBER: 02327874)






CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 SEPTEMBER 2016




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 3


ARROWBAND LIMITED

COMPANY INFORMATION
FOR THE YEAR ENDED 30 SEPTEMBER 2016







DIRECTORS: Mrs D B Lynchehaun
Mrs P J Norcott





SECRETARY: Mrs D B Lynchehaun





REGISTERED OFFICE: 75 - 83 Leasowe Road
Wallasey
Wirral
CH45 8NZ





REGISTERED NUMBER: 02327874 (England and Wales)





ACCOUNTANTS: Christian Douglass LLP
Chartered Accountants
2 Jordan Street
Knott Mill
Manchester
M15 4PY
Page 1
ARROWBAND LIMITED (REGISTERED NUMBER: 02327874)

BALANCE SHEET
30 SEPTEMBER 2016

30.9.16 30.9.15
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 3 - -
Investment property 4 2,150,449 2,304,253
2,150,449 2,304,253

CURRENT ASSETS
Debtors 5 1,822 967
Cash at bank 875,240 558,140
877,062 559,107
CREDITORS
Amounts falling due within one year 6 902,154 823,459
NET CURRENT LIABILITIES (25,092 ) (264,352 )
TOTAL ASSETS LESS CURRENT
LIABILITIES
2,125,357
2,039,901

PROVISIONS FOR LIABILITIES 29,998 35,091
NET ASSETS 2,095,359 2,004,810

CAPITAL AND RESERVES
Called up share capital 450 450
Share premium 7 719,550 719,550
Other reserves 7 157,885 184,689
Retained earnings 7 1,217,474 1,100,121
2,095,359 2,004,810

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30 September 2016.

The members have not required the company to obtain an audit of its financial statements for the year ended 30 September 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 financial statements have been prepared and delivered in accordance with the provisions of Part 15 of the Companies Act 2006 relating to small companies.

In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered.

The financial statements were approved by the Board of Directors on 30 June 2017 and were signed on its behalf by:





Mrs P J Norcott - Director


The notes form part of these financial statements

Page 2
ARROWBAND LIMITED (REGISTERED NUMBER: 02327874)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 SEPTEMBER 2016

1. STATUTORY INFORMATION

Arrowband Limited 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 principal activity of the Company is property investment.

The financial statements are presented in Sterling, which is also the functional currency of the Company.

2. ACCOUNTING POLICIES

Basis of preparing the financial statements
These financial statements have been prepared in accordance with the provisions of Section 1A "Small Entities" of Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" 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 etc - 33% on cost

Investment property
Investment property is shown at most recent valuation. Any aggregate surplus or deficit arising from changes in
fair value is recognised in profit or loss.

Depreciation is not provided in respect of investment properties. Although this accounting policy is in accordance
with the Financial Reporting Standard 102, it is a departure from the general requirement of the Companies Act
2006 for all tangible assets to be depreciated. In the opinion of the directors compliance with the standard is
necessary for the financial statements to give a true and fair view. Depreciation or amortisation is only one of
many factors reflected in the annual valuation and the amount of this which might otherwise have been charged
cannot be separately identified or quantified.

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

Deferred tax assets and liabilities are calculated at the tax rates expected to be effective at the time the timing
differences are anticipated to reverse. Deferred tax assets and liabilities are not discounted.

Deferred tax is provided in full on gains arising on the fair valuation of assets.

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.

Financial assets, which are measured on a non-discounted basis at transaction price less any necessary
impairment, comprise trade debtors plus credit bank balances.

Financial liabilities, which are similarly measured on a non-discounted basis at transaction price less any
necessary impairment, comprise related company creditors; other creditors and accruals as detailed in note 8.

Page 3 continued...
ARROWBAND LIMITED (REGISTERED NUMBER: 02327874)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 30 SEPTEMBER 2016

3. TANGIBLE FIXED ASSETS
Plant and
machinery
etc
£   
COST
At 1 October 2015
and 30 September 2016 10,384
DEPRECIATION
At 1 October 2015
and 30 September 2016 10,384
NET BOOK VALUE
At 30 September 2016 -

4. INVESTMENT PROPERTY
Total
£   
FAIR VALUE
At 1 October 2015 2,304,253
Disposals (153,804 )
At 30 September 2016 2,150,449
NET BOOK VALUE
At 30 September 2016 2,150,449
At 30 September 2015 2,304,253

The investment properties were valued by the directors as at 30 September 2016 on an open market value
basis.

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
30.9.16 30.9.15
£    £   
Other debtors 1,822 967

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
30.9.16 30.9.15
£    £   
Amounts owed to related undertakings 79,225 56,809
Taxation and social security 16,136 19,585
Other creditors 806,793 747,065
902,154 823,459

7. RESERVES

Reserves include other reserves, which are non-distributable profit reserves representing fair valuation gains on
investment property. A provision for deferred tax has been recognised in respect of the gains.

8. TRANSITION TO FRS 102

The date of transition to FRS 102 was 1 October 2014.These financial statements are the first that the company
has presented in accordance with the Standard. The transition to FRS 102 has had no effect on the reported
performance however the company's financial position has been reduced on transition, by the recognition of a
deferred tax liability, amounting to £35,091, in respect of unrealised property gains in prior periods.

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