REGISTERED NUMBER: |
UNAUDITED FINANCIAL STATEMENTS |
FOR THE YEAR ENDED 31 MARCH 2023 |
FOR |
ARROW CASTINGS LIMITED |
REGISTERED NUMBER: |
UNAUDITED FINANCIAL STATEMENTS |
FOR THE YEAR ENDED 31 MARCH 2023 |
FOR |
ARROW CASTINGS LIMITED |
ARROW CASTINGS LIMITED (REGISTERED NUMBER: 03024163) |
CONTENTS OF THE FINANCIAL STATEMENTS |
for the year ended 31 MARCH 2023 |
Page |
Company Information | 1 |
Balance Sheet | 2 |
Notes to the Financial Statements | 4 |
ARROW CASTINGS LIMITED |
COMPANY INFORMATION |
for the year ended 31 MARCH 2023 |
DIRECTOR: |
SECRETARY: |
REGISTERED OFFICE: |
REGISTERED NUMBER: |
ACCOUNTANTS: |
Chartered Accountants |
1 High Street |
Thatcham |
Berks |
RG19 3JG |
ARROW CASTINGS LIMITED (REGISTERED NUMBER: 03024163) |
BALANCE SHEET |
31 MARCH 2023 |
31.3.23 | 31.3.22 |
Notes | £ | £ | £ | £ |
FIXED ASSETS |
Tangible assets | 4 |
Investments | 5 |
CURRENT ASSETS |
Stocks |
Debtors | 6 |
Cash at bank and in hand |
CREDITORS |
Amounts falling due within one year | 7 |
NET CURRENT ASSETS |
TOTAL ASSETS LESS CURRENT LIABILITIES |
CREDITORS |
Amounts falling due after more than one year |
8 |
( |
) |
PROVISIONS FOR LIABILITIES | ( |
) | ( |
) |
NET ASSETS |
CAPITAL AND RESERVES |
Called up share capital |
Retained earnings |
SHAREHOLDERS' FUNDS |
The director acknowledges his 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. |
ARROW CASTINGS LIMITED (REGISTERED NUMBER: 03024163) |
BALANCE SHEET - continued |
31 MARCH 2023 |
In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered. |
The financial statements were approved by the director and authorised for issue on |
ARROW CASTINGS LIMITED (REGISTERED NUMBER: 03024163) |
NOTES TO THE FINANCIAL STATEMENTS |
for the year ended 31 MARCH 2023 |
1. | STATUTORY INFORMATION |
Arrow Castings Limited is a |
2. | ACCOUNTING POLICIES |
Basis of preparing the financial statements |
Turnover |
Turnover represents amounts chargeable, net of value added tax, in respect of the sale of goods and services to customers. |
Tangible fixed assets |
Plant and machinery | - |
Office equipment | - |
Investments in subsidiaries |
Investments in subsidiary undertakings are recognised at 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. |
Foreign currencies |
Assets and liabilities in foreign currencies are translated into sterling at the rates of exchange ruling at the balance sheet date. Transactions in foreign currencies are translated into sterling at the rate of exchange ruling at the date of transaction. Exchange differences are taken into account in arriving at the operating result. |
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. |
ARROW CASTINGS LIMITED (REGISTERED NUMBER: 03024163) |
NOTES TO THE FINANCIAL STATEMENTS - continued |
for the year ended 31 MARCH 2023 |
2. | ACCOUNTING POLICIES - continued |
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 |
4. | TANGIBLE FIXED ASSETS |
Plant and | Motor | Office |
machinery | vehicles | equipment | Totals |
£ | £ | £ | £ |
COST |
At 1 April 2022 |
Additions |
Disposals | ( |
) | ( |
) |
At 31 March 2023 |
DEPRECIATION |
At 1 April 2022 |
Charge for year |
Eliminated on disposal | ( |
) | ( |
) |
At 31 March 2023 |
NET BOOK VALUE |
At 31 March 2023 |
At 31 March 2022 |
5. | FIXED ASSET INVESTMENTS |
Shares in |
group |
undertakings |
£ |
COST |
At 1 April 2022 |
and 31 March 2023 |
NET BOOK VALUE |
At 31 March 2023 |
At 31 March 2022 |
ARROW CASTINGS LIMITED (REGISTERED NUMBER: 03024163) |
NOTES TO THE FINANCIAL STATEMENTS - continued |
for the year ended 31 MARCH 2023 |
5. | FIXED ASSET INVESTMENTS - continued |
The company's investments at the Balance Sheet date in the share capital of companies include the following: |
Registered office: UK |
Nature of business: |
% |
Class of shares: | holding |
31.3.23 | 31.3.22 |
£ | £ |
Aggregate capital and reserves |
Profit for the year |
6. | DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
31.3.23 | 31.3.22 |
£ | £ |
Trade debtors |
Amounts owed by group undertakings |
Other debtors |
7. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
31.3.23 | 31.3.22 |
£ | £ |
Hire purchase contracts |
Trade creditors |
Amounts owed to group undertakings |
Taxation and social security |
Other creditors |
8. | CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR |
31.3.23 | 31.3.22 |
£ | £ |
Hire purchase contracts |
9. | CONTINGENT LIABILITIES |
There were no contingent liabilities at the balance sheet date or at 31 March 2022. |
10. | RELATED PARTY DISCLOSURES |
During the year, total dividends of £12,717 (2022 - £8,309) were paid to the director . |
ARROW CASTINGS LIMITED (REGISTERED NUMBER: 03024163) |
NOTES TO THE FINANCIAL STATEMENTS - continued |
for the year ended 31 MARCH 2023 |
10. | RELATED PARTY DISCLOSURES - continued |
Arrow Butler Castings Limited |
(Arrow Castings Limited own 50% of the share capital of Arrow Butler Castings Limited) |
During the year sales of £2,588 (2022 : £3,808) and purchases of £24,655 (2022 : £67,049) were made. |
Business rates relating to this year and previous years of £3,431 (2022 : £3,000) were charged to Arrow Butler Castings Limited. |
Management charges of £Nil (2022 : £Nil) were also charged to Arrow Butler Castings Limited. |
During the year dividends of £15,000 (2022: £20,000) were received from Arrow Butler Castings Limited. |
At the balance sheet date the amount due to Arrow Butler Castings Limited was £6,790 (2022 : £13,451). |
The company has also made a loan to Arrow Butler Castings Limited, at the balance sheet date the amount due from Arrow Butler Castings Limited was £15,000 (2022 : £12,003). |
Britannia Precision Components Limited |
(GM Robertshaw is a 25% shareholder of Britannia Precision Components Limited) |
During the year sales of £2,087 (2022 : £1,953) and purchases of £Nil (2022 : £Nil) were made. |
Admin charges of £Nil (2022 : £Nil) were also received during the year from Britannia Precision Components Limited. |
At the balance sheet date the amount due from Britannia Precision Components Limited was £308 |
(2022 : £317). |
G M Robertshaw |
(Director of Arrow Castings Limited) |
The company occupies property owned by Mr Robertshaw and rent of £6,000 (2022 : £6,000) was paid during the year. |
At the balance sheet date the amount due to G M Robertshaw was £54,916 (2022 : £39,386). |
11. | ULTIMATE CONTROLLING PARTY |
The company is controlled by G M Robertshaw, the Director, and his wife who own 100% of the ordinary shares. |