Arrowstone Limited - Accounts to registrar (filleted) - small 18.2

REGISTERED NUMBER: 04589428 (England and Wales)

Unaudited Financial Statements for the Year Ended 30 April 2018

for

Arrowstone Limited

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

4

DIRECTORS:

Ms J A Hollis

Mr L Crosta

REGISTERED OFFICE:

1st Floor

314 Regents Park Road

Finchley

London

N3 2LT

REGISTERED NUMBER:

04589428 (England and Wales)

ACCOUNTANTS:

Wolfson Associates Limited

1st Floor

314 Regents Park Road

Finchley

London

N3 2LT

FIXED ASSETS

Intangible assets

4

162,500

195,000

Tangible assets

5

195,062

215,352

357,562

410,352

CURRENT ASSETS

Stocks

42,500

42,000

Debtors

6

89,775

90,203

Cash at bank and in hand

45,828

19,316

178,103

151,519

CREDITORS

Amounts falling due within one year

7

480,983

534,554

NET CURRENT LIABILITIES

(302,880

)

(383,035

)

TOTAL ASSETS LESS CURRENT LIABILITIES

54,682

27,317

PROVISIONS FOR LIABILITIES

6,568

6,116

NET ASSETS

48,114

21,201

CAPITAL AND RESERVES

Called up share capital

101

101

Retained earnings

48,013

21,100

SHAREHOLDERS' FUNDS

48,114

21,201

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30 April 2018.

The members have not required the company to obtain an audit of its financial statements for the year ended 30 April 2018 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 31 October 2018 and were signed on its behalf by:

Ms J A Hollis - Director

1.	STATUTORY INFORMATION

Arrowstone 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.

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.

Goodwill

Goodwill, being the amount paid in connection with the acquisition of a business in 2003, is being amortised evenly over its estimated useful life of twenty years.

Intangible assets

Intangible assets are initially measured at cost. After initial recognition, intangible assets are measured

at cost less any accumulated amortisation and any accumulated impairment losses.

Tangible fixed assets

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

Short leasehold

-

5% on cost

Improvements to property

-

5% on cost

Plant and machinery

-

25% on reducing balance

Fixtures and fittings

-

15% on reducing balance

Motor vehicles

-

20% on reducing balance

Computer equipment

-

25% on cost

Stocks

Stocks are valued at the lower of cost and net realisable value, after making due allowance for

obsolete and slow moving items.

Taxation

Taxation for the year comprises current and deferred tax. Tax is recognised in the Income Statement,

except to the extent that it relates to items recognised in other comprehensive income or directly in

equity.

Current or deferred taxation assets and liabilities are not discounted.

Current tax is recognised at the amount of tax payable using the tax rates and laws that have been

enacted or substantively enacted by the balance sheet date.

Deferred tax

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

the balance sheet date.

Timing differences arise from the inclusion of income and expenses in tax assessments in periods

different from those in which they are recognised in financial statements. Deferred tax is measured

using tax rates and laws that have been enacted or substantively enacted by the year end and that are

expected to apply to the reversal of the timing difference.

Unrelieved tax losses and other deferred tax assets are recognised only to the extent that it is probable

that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits.

Hire purchase and leasing commitments

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

period of the lease.

Pension costs and other post-retirement benefits

The company operates a defined contribution pension scheme. Contributions payable to the

company's pension scheme are charged to profit or loss in the period to which they relate.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 33 (2017 - 31 ) .

4.	INTANGIBLE FIXED ASSETS

Goodwill

£

COST

At 1 May 2017

and 30 April 2018

650,000

AMORTISATION

At 1 May 2017

455,000

Charge for year

32,500

At 30 April 2018

487,500

NET BOOK VALUE

At 30 April 2018

162,500

At 30 April 2017

195,000

5.	TANGIBLE FIXED ASSETS

Improvements

Short

to

Plant and

leasehold

property

machinery

£

£

£

COST

At 1 May 2017

118,851

36,220

160,000

At 30 April 2018

118,851

36,220

160,000

DEPRECIATION

At 1 May 2017

34,943

27,165

122,031

Charge for year

5,943

1,811

9,492

At 30 April 2018

40,886

28,976

131,523

NET BOOK VALUE

At 30 April 2018

77,965

7,244

28,477

At 30 April 2017

83,908

9,055

37,969

Fixtures

and

Motor

Computer

fittings

vehicles

equipment

Totals

£

£

£

£

COST

At 1 May 2017

258,715

9,250

41,751

624,787

Additions

6,822

-

8,081

14,903

At 30 April 2018

265,537

9,250

49,832

639,690

DEPRECIATION

At 1 May 2017

179,641

7,698

37,957

409,435

Charge for year

12,884

310

4,753

35,193

At 30 April 2018

192,525

8,008

42,710

444,628

NET BOOK VALUE

At 30 April 2018

73,012

1,242

7,122

195,062

At 30 April 2017

79,074

1,552

3,794

215,352

6.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

30.4.18

30.4.17

£

£

Trade debtors

23,439

20,801

Other debtors

1,209

10,144

Prepayments and accrued income

65,127

59,258

89,775

90,203

7.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

30.4.18

30.4.17

£

£

Bank loans and overdrafts

348

56,305

Trade creditors

157,323

159,770

Tax

19,312

6,812

Social security and other taxes

10,516

13,883

VAT

64,443

106,791

Other creditors

15,336

11,960

Directors' current accounts

147,069

146,348

Accruals and deferred income

66,636

32,685

480,983

534,554

8.	DIRECTORS' ADVANCES, CREDITS AND GUARANTEES

At 1 May 2017, the director's loan account was a credit balance of £146,349. During the year the

director paid £719 on behalf of the company. As a result, at the year end the company owed the

director £147,068.

9.	ULTIMATE CONTROLLING PARTY

The controlling party of the company is the director, J A Hollis, by virtue of her 100% holding of the

issued share capital.

10.	DIVIDENDS PAID TO DIRECTORS

During the year the director, Mr L Crosta received £18,048 by way of dividend in his capacity as

shareholder.

11.	CHARGES ON ASSETS

AIB Group (UK) Plc possess charges on the company's leasehold properties.