Arrow Leisure Limited
Arrow Leisure Limited
Registered number: 04105954
Unaudited Financial Statements
For The Year Ended
31 August 2020
Arrow Leisure Limited
Unaudited Financial Statements
For The Year Ended
31 August 2020
Unaudited Financial Statements
| Contents | |
| Page | |
|---|---|
| Statement of Financial Position | 1—2 |
| Notes to the Financial Statements | 3—6 |
Arrow Leisure Limited
Statement of Financial Position
As at
31 August 2020
Statement of Financial Position
Registered number:
04105954
For the year ending 31 August 2020 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
| 2020 | 2019 | ||||
|---|---|---|---|---|---|
| Notes | £ | £ | £ | £ | |
| FIXED ASSETS | |||||
| Tangible Assets | 5 |
|
|
||
|
|
|
||||
| CURRENT ASSETS | |||||
| Stocks | 6 |
|
|
||
| Debtors | 7 |
|
|
||
| Cash at bank and in hand |
|
|
|||
|
|
|
||||
| Creditors: Amounts Falling Due Within One Year | 8 |
( |
( |
||
| NET CURRENT ASSETS (LIABILITIES) |
( |
( |
|||
| TOTAL ASSETS LESS CURRENT LIABILITIES |
|
( |
|||
| Creditors: Amounts Falling Due After More Than One Year | 9 |
( |
( |
||
| PROVISIONS FOR LIABILITIES | |||||
| Deferred Taxation | 11 |
( |
( |
||
| NET LIABILITIES |
( |
( |
|||
| CAPITAL AND RESERVES | |||||
| Called up share capital | 12 |
|
|
||
| Income Statement |
( |
( |
|||
| SHAREHOLDERS' FUNDS | (23,589) | (22,532) | |||
Page 1
Arrow Leisure Limited
Statement of Financial Position (continued)
As at
31 August 2020
Directors' responsibilities:
-
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 and delivered in accordance with the provisions applicable to companies subject to the small companies' regime. - The company has taken advantage of section 444(1) of the Companies Act 2006 and opted not to deliver to the registrar a copy of the company's Income Statement.
On behalf of the board
|
Director
|
|
|
The notes on pages 3 to 6 form part of these financial statements.
Page 2
Arrow Leisure Limited
Notes to the Financial Statements
For The Year Ended
31 August 2020
Notes to the Financial Statements
1.
Accounting Policies
1.1.
Basis of Preparation of Financial Statements
The financial statements are prepared under the historical cost convention and in accordance with the FRS 102 Section 1A Small Entities - The Financial Reporting Standard applicable in the UK and Republic of Ireland and the Companies Act 2006.
1.2.
Going Concern Disclosure
The financial statements have been prepared on a going concern basis, the validity of which is dependent upon the continued support of the creditors and directors.
1.3.
Turnover
Turnover comprises the invoiced value of goods and services supplied by the company, net of Value Added Tax and trade discounts.
1.4.
Tangible Fixed Assets and Depreciation
Tangible fixed assets are stated at cost less depreciation. Depreciation is provided at rates calculated to write off the cost of the fixed assets, less their estimated residual value, over their expected useful lives on the following bases:
| Plant & Machinery |
|
| Motor Vehicles |
|
1.5.
Leasing and Hire Purchase Contracts
Assets obtained under hire purchase contracts and finance leases are capitalised as tangible fixed assets. Assets acquired under finance leases are depreciated over the shorter of the lease term and their useful lives. Assets acquired under hire purchase contracts are depreciated over their useful lives. Finance leases are those where substantially all of the benefits and risks of ownership are assumed by the company. Obligations under such agreements are included in the creditors net of the finance charge allocated to future periods. The finance element of the rental payment is charged to the profit and loss account so as to produce a constant periodic rate of charge on the net obligation outstanding in each period.
Rentals applicable to operating leases where substantially all of the benefits and risks of ownership remain with the lessor are charged to profit and loss account as incurred.
1.6.
Stocks and Work in Progress
Stocks and work in progress are valued at the lower of cost and net realisable value after making due allowance for obsolete and slow-moving stocks. Cost includes all direct costs and an appropriate proportion of fixed and variable overheads.
1.7.
Taxation
The charge for taxation takes into account taxation deferred as a result of timing differences between the treatment of certain items for taxation and accounting purposes. In general, deferred taxation is recognised in respect of timing differences that have originated but not reversed at the balance sheet date.
1.8.
Registrar Filing Requirements
The company has taken advantage of Companies Act 2006 section 444(1) and opted not to file the income statement, directors report, and notes to the financial statements relating to the income statement. The notes which are not included have been hidden but original note numbering has remained the same for those that are present.
3.
Average Number of Employees
Average number of employees, including directors, during the year was 2 (2019: 2)
Page 3
Arrow Leisure Limited
Notes to the Financial Statements (continued)
For The Year Ended
31 August 2020
5.
Tangible Assets
| Plant & Machinery | Motor Vehicles | Total | |
|---|---|---|---|
| £ | £ | £ | |
| Cost or Valuation | |||
| As at
|
|
|
|
| Additions |
|
|
|
| Disposals |
|
( |
( |
| Revaluation |
|
|
|
| As at
|
|
|
|
| Depreciation | |||
| As at
|
|
|
|
| Provided during the period |
|
|
|
| Disposals |
|
( |
( |
| As at
|
|
|
|
| Net Book Value | |||
| As at
|
|
|
|
| As at
|
|
|
|
Included above are assets held under finance leases or hire purchase contracts with a net book value as follows:
| 2020 | 2019 | ||
|---|---|---|---|
| £ | £ | ||
| Motor Vehicles |
|
|
|
|
|
|
||
6.
Stocks
| 2020 | 2019 | ||
|---|---|---|---|
| £ | £ | ||
| Stock - work in progress |
|
|
|
|
|
|
||
7.
Debtors
| 2020 | 2019 | ||
|---|---|---|---|
| £ | £ | ||
| Due within one year | |||
| Trade debtors |
|
|
|
| Other debtors |
|
|
|
| Other taxes and social security | - |
|
|
| Directors' loan accounts | - |
|
|
|
|
|
||
Page 4
Arrow Leisure Limited
Notes to the Financial Statements (continued)
For The Year Ended
31 August 2020
8.
Creditors: Amounts Falling Due Within One Year
| 2020 | 2019 | ||
|---|---|---|---|
| £ | £ | ||
| Net obligations under finance lease and hire purchase contracts |
|
|
|
| Trade creditors |
|
|
|
| Bank loans and overdrafts |
|
|
|
| Corporation tax |
|
|
|
| Other taxes and social security |
|
- | |
| VAT |
|
|
|
| Other creditors |
|
|
|
| Sundry creditors & accruals |
|
|
|
|
|
|
||
9.
Creditors: Amounts Falling Due After More Than One Year
| 2020 | 2019 | ||
|---|---|---|---|
| £ | £ | ||
| Net obligations under finance lease and hire purchase contracts |
|
|
|
| Bank loans |
|
|
|
|
|
|
||
10.
Obligations Under Finance Leases and Hire Purchase
| 2020 | 2019 | ||
|---|---|---|---|
| £ | £ | ||
| The maturity of these amounts is as follows: | |||
| Amounts Payable: | |||
| Within one year |
|
|
|
| Between one and five years |
|
|
|
|
|
|
||
| Less: Finance charges allocated to future periods |
|
|
|
|
|
|
||
11.
Deferred Taxation
The provision for deferred taxation is made up of accelerated capital allowances
| 2020 | 2019 | ||
|---|---|---|---|
| £ | £ | ||
| Deferred tax |
|
|
|
|
|
|
||
Page 5
Arrow Leisure Limited
Notes to the Financial Statements (continued)
For The Year Ended
31 August 2020
13.
Other Commitments
The total of future minimum lease payments under non-cancellable operating leases are as following:
| Other | ||
|---|---|---|
| 2020 | 2019 | |
| £ | £ | |
| Within 1 year | 13,098 | 8,983 |
| Between 1 and 5 years | 6,820 | 7,491 |
| 19,918 | 16,474 | |
14.
Directors Advances, Credits and Guarantees
Included within Debtors are the following loans to directors:
The above loan is unsecured, interest free and repayable on demand.
Dividends paid to directors
| 2020 | 2019 | |
|---|---|---|
| £ | £ | |
| Mr Duncan Campbell | 15,401 | 11,222 |
15.
General Information
Arrow Leisure Limited
is a private company, limited by shares, incorporated in England & Wales, registered number
04105954
. The registered office is Delegate House, 30a Hart Street, Henley-on-Thames, Oxfordshire, RG9 2AL.
Page 6