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Financial Statements for the Year Ended 31 August 2020 |
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A.r.cartwright Limited |
REGISTERED NUMBER:
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Financial Statements for the Year Ended 31 August 2020 |
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for |
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A.r.cartwright Limited |
A.r.cartwright Limited (Registered number: 00984993) |
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Contents of the Financial Statements |
for the Year Ended 31 August 2020 |
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Page |
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Company Information | 1 |
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Balance Sheet | 2 |
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Notes to the Financial Statements | 3 |
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A.r.cartwright Limited |
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Company Information |
for the Year Ended 31 August 2020 |
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DIRECTORS: |
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REGISTERED OFFICE: |
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REGISTERED NUMBER: |
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AUDITORS: |
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Statutory Auditor |
The Point |
Granite Way |
Mountsorrel |
Loughborough |
Leicestershire |
LE12 7TZ |
A.r.cartwright Limited (Registered number: 00984993) |
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Balance Sheet |
31 August 2020 |
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31.8.20 | 31.8.19 |
Notes | £ | £ | £ | £ |
FIXED ASSETS |
Tangible assets | 4 |
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Investments | 5 |
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Investment property | 6 |
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CURRENT ASSETS |
Stocks |
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Debtors | 7 |
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Cash at bank |
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CREDITORS |
Amounts falling due within one year | 8 |
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NET CURRENT ASSETS |
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TOTAL ASSETS LESS CURRENT
LIABILITIES |
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CREDITORS |
Amounts falling due after more than one
year |
9 |
( |
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( |
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PROVISIONS FOR LIABILITIES | ( |
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NET ASSETS |
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CAPITAL AND RESERVES |
Called up share capital | 11 |
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Fair value reserve | 12 |
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Retained earnings | 12 |
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SHAREHOLDERS' FUNDS |
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In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered. |
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The financial statements were approved by the Board of Directors and authorised for issue on
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A.r.cartwright Limited (Registered number: 00984993) |
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Notes to the Financial Statements |
for the Year Ended 31 August 2020 |
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1. | STATUTORY INFORMATION |
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A.r.cartwright Limited is a
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2. | ACCOUNTING POLICIES |
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Basis of preparing the financial statements |
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Turnover |
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. |
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Tangible fixed assets |
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Plant and machinery etc | - |
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Investments in subsidiaries |
Investments in subsidiary undertakings are recognised at cost. |
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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. |
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Stocks |
Work in progress is valued at the lower of cost and net realisable value. |
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Cost is calculated using the first-in, first-out method and includes all purchase, transport, and handling costs in bringing stocks to their present location and condition. |
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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. |
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Current or deferred taxation assets and liabilities are not discounted. |
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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. |
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Deferred tax |
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date. |
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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. |
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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. |
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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. |
A.r.cartwright Limited (Registered number: 00984993) |
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Notes to the Financial Statements - continued |
for the Year Ended 31 August 2020 |
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2. | ACCOUNTING POLICIES - continued |
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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. |
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Going concern |
The directors have a reasonable expectation that the company has adequate resources to continue in operational existence for the foreseeable future. Accordingly, they continue to adopt the going concern basis in preparing the financial statements. In determining that this basis is appropriate the directors are satisfied that the bank facilities will be renewed on expiry. |
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3. | EMPLOYEES AND DIRECTORS |
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The average number of employees during the year was
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4. | TANGIBLE FIXED ASSETS |
Plant and |
machinery |
etc |
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COST |
At 1 September 2019 |
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Additions |
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Disposals | ( |
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At 31 August 2020 |
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DEPRECIATION |
At 1 September 2019 |
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Charge for year |
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Eliminated on disposal | ( |
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At 31 August 2020 |
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NET BOOK VALUE |
At 31 August 2020 |
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At 31 August 2019 |
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5. | FIXED ASSET INVESTMENTS |
Shares in |
group |
undertakings |
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COST |
At 1 September 2019 |
and 31 August 2020 |
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NET BOOK VALUE |
At 31 August 2020 |
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At 31 August 2019 |
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A.r.cartwright Limited (Registered number: 00984993) |
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Notes to the Financial Statements - continued |
for the Year Ended 31 August 2020 |
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6. | INVESTMENT PROPERTY |
Total |
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FAIR VALUE |
At 1 September 2019 |
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Disposals | ( |
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At 31 August 2020 |
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NET BOOK VALUE |
At 31 August 2020 |
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At 31 August 2019 |
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The above assets are held for use in operating lease contracts. |
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The investment properties were valued on an open market basis by the directors on 31st August 2018. |
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7. | DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
31.8.20 | 31.8.19 |
£ | £ |
Trade debtors |
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Amounts owed by group undertakings |
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Other debtors |
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8. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
31.8.20 | 31.8.19 |
£ | £ |
Hire purchase contracts |
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Trade creditors |
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Taxation and social security |
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Other creditors |
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9. |
CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR |
31.8.20 | 31.8.19 |
£ | £ |
Bank loans |
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Hire purchase contracts |
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A.r.cartwright Limited (Registered number: 00984993) |
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Notes to the Financial Statements - continued |
for the Year Ended 31 August 2020 |
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10. | SECURED DEBTS |
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The following secured debts are included within creditors: |
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31.8.20 | 31.8.19 |
£ | £ |
Bank loans |
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The above debts are secured by fixed & floating charges and an unlimited guarantee from the company's subsidiary. |
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11. | CALLED UP SHARE CAPITAL |
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Allotted, issued and fully paid: |
Number: | Class: | Nominal | 31.8.20 | 31.8.19 |
value: | £ | £ |
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Ordinary A | £1 | 602 | 602 |
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Ordinary B | £1 | 2,398 | 2,398 |
3,000 | 3,000 |
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12. | RESERVES |
Fair |
Retained | value |
earnings | reserve | Totals |
£ | £ | £ |
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At 1 September 2019 |
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5,274,998 |
Profit for the year |
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Dividends | ( |
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Transfer | - | (24,900 | ) | (24,900 | ) |
At 31 August 2020 |
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5,812,428 |
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13. | DISCLOSURE UNDER SECTION 444(5B) OF THE COMPANIES ACT 2006 |
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The Report of the Auditors was unqualified. |
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for and on behalf of
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14. | CONTINGENT LIABILITIES, GUARANTEES & FINANCIAL COMMITMENTS |
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The company's bank has given guarantees to third parties totalling £565,675. If the bank had to meet these guarantees, then it would have counter claims against the company. Guarantees are normal place in the construction industry. |
A.r.cartwright Limited (Registered number: 00984993) |
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Notes to the Financial Statements - continued |
for the Year Ended 31 August 2020 |
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15. | DIRECTORS' ADVANCES, CREDITS AND GUARANTEES |
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The following advances and credits to a director subsisted during the years ended 31 August 2020 and 31 August 2019: |
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31.8.20 | 31.8.19 |
£ | £ |
**UNKNOWN DIRECTOR 1** |
Balance outstanding at start of year | - | 77,478 |
Amounts repaid | - | (77,478 | ) |
Amounts written off | - | - |
Amounts waived | - | - |
Balance outstanding at end of year | - | - |
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16. | ULTIMATE CONTROLLING PARTY |
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The majority of the company's shares are held in trust by two trusts, of which the directors are trustees. As a result, the directors are the ultimate controlling party. |