REGISTERED NUMBER:
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UNAUDITED FINANCIAL STATEMENTS |
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FOR THE YEAR ENDED 30TH JUNE 2020 |
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ARROW ELECTRICAL & PLUMBING SERVICES |
LIMITED |
REGISTERED NUMBER:
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UNAUDITED FINANCIAL STATEMENTS |
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FOR THE YEAR ENDED 30TH JUNE 2020 |
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FOR |
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ARROW ELECTRICAL & PLUMBING SERVICES |
LIMITED |
ARROW ELECTRICAL & PLUMBING SERVICES |
LIMITED (REGISTERED NUMBER: 04794456) |
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CONTENTS OF THE FINANCIAL STATEMENTS |
FOR THE YEAR ENDED 30TH JUNE 2020 |
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Company Information | 1 |
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Balance Sheet | 2 |
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Notes to the Financial Statements | 4 |
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ARROW ELECTRICAL & PLUMBING SERVICES |
LIMITED |
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COMPANY INFORMATION |
FOR THE YEAR ENDED 30TH JUNE 2020 |
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DIRECTOR: |
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REGISTERED OFFICE: |
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REGISTERED NUMBER: |
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ACCOUNTANTS: |
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Chartered Accountants |
25 Grosvenor Road |
Wrexham |
LL11 1BT |
ARROW ELECTRICAL & PLUMBING SERVICES |
LIMITED (REGISTERED NUMBER: 04794456) |
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BALANCE SHEET |
30TH JUNE 2020 |
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30.6.20 | 30.6.19 |
Notes | £ | £ | £ | £ |
FIXED ASSETS |
Intangible assets | 4 |
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Tangible assets | 5 |
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CURRENT ASSETS |
Stocks | 6 |
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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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PROVISIONS FOR LIABILITIES | 11 | ( |
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NET ASSETS |
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CAPITAL AND RESERVES |
Called up share capital | 12 |
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Retained earnings |
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SHAREHOLDERS' FUNDS |
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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 ELECTRICAL & PLUMBING SERVICES |
LIMITED (REGISTERED NUMBER: 04794456) |
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BALANCE SHEET - continued |
30TH JUNE 2020 |
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In accordance with Section 444 of the Companies Act 2006, the Statement of Income and Retained Earnings has not been delivered. |
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The financial statements were approved by the director and authorised for issue on
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ARROW ELECTRICAL & PLUMBING SERVICES |
LIMITED (REGISTERED NUMBER: 04794456) |
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NOTES TO THE FINANCIAL STATEMENTS |
FOR THE YEAR ENDED 30TH JUNE 2020 |
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1. | STATUTORY INFORMATION |
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Arrow Electrical & Plumbing Services Limited is a
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The presentation currency of the financial statements is the Pound Sterling (£). |
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2. | ACCOUNTING POLICIES |
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Basis of preparing the financial statements |
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First year adoption of Financial Reporting Standard 102 ( FRS 102) Section 1A |
These financial statements for the year ended 30th June 2020 are the first that are prepared in accordance with FRS 102 Section 1A. The previous financial statements were prepared in accordance with FRS 105, the date of transition to FRS 102 Section 1A is 1st July 2018. |
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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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Goodwill |
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Tangible fixed assets |
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Plant and machinery | - |
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Fixtures and fittings | - |
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Motor vehicles | - |
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Computer equipment | - |
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Stocks |
Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items. |
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Taxation |
Taxation for the year comprises current and deferred tax. Tax is recognised in the Statement of Income and Retained Earnings, 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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ARROW ELECTRICAL & PLUMBING SERVICES |
LIMITED (REGISTERED NUMBER: 04794456) |
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NOTES TO THE FINANCIAL STATEMENTS - continued |
FOR THE YEAR ENDED 30TH JUNE 2020 |
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2. | ACCOUNTING POLICIES - continued |
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 |
Assets obtained under hire purchase contracts or finance leases are capitalised in the balance sheet. Those held under hire purchase contracts are depreciated over their estimated useful lives. Those held under finance leases are depreciated over their estimated useful lives or the lease term, whichever is the shorter. |
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The interest element of these obligations is charged to profit or loss over the relevant period. The capital element of the future payments is treated as a liability. |
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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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3. | EMPLOYEES AND DIRECTORS |
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The average number of employees during the year was
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4. | INTANGIBLE FIXED ASSETS |
Goodwill |
£ |
COST |
At 1st July 2019 |
and 30th June 2020 |
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AMORTISATION |
At 1st July 2019 |
and 30th June 2020 |
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NET BOOK VALUE |
At 30th June 2020 |
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At 30th June 2019 |
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ARROW ELECTRICAL & PLUMBING SERVICES |
LIMITED (REGISTERED NUMBER: 04794456) |
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NOTES TO THE FINANCIAL STATEMENTS - continued |
FOR THE YEAR ENDED 30TH JUNE 2020 |
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5. | TANGIBLE FIXED ASSETS |
Fixtures |
Plant and | and | Motor | Computer |
machinery | fittings | vehicles | equipment | Totals |
£ | £ | £ | £ | £ |
COST |
At 1st July 2019 |
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Additions |
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At 30th June 2020 |
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DEPRECIATION |
At 1st July 2019 |
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Charge for year |
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At 30th June 2020 |
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NET BOOK VALUE |
At 30th June 2020 |
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At 30th June 2019 |
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Fixed assets, included in the above, which are held under hire purchase contracts are as follows: |
Motor |
vehicles |
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COST |
At 1st July 2019 |
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Additions |
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At 30th June 2020 |
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DEPRECIATION |
At 1st July 2019 |
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Charge for year |
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At 30th June 2020 |
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NET BOOK VALUE |
At 30th June 2020 |
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At 30th June 2019 |
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6. | STOCKS |
30.6.20 | 30.6.19 |
£ | £ |
Stocks of finished goods |
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ARROW ELECTRICAL & PLUMBING SERVICES |
LIMITED (REGISTERED NUMBER: 04794456) |
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NOTES TO THE FINANCIAL STATEMENTS - continued |
FOR THE YEAR ENDED 30TH JUNE 2020 |
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7. | DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
30.6.20 | 30.6.19 |
£ | £ |
Trade debtors |
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Other debtors |
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Directors' current accounts | 34,312 | 47,968 |
Corporation tax repayable |
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Prepayments |
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8. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
30.6.20 | 30.6.19 |
£ | £ |
Hire purchase contracts |
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Trade creditors |
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Corporation tax payable |
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Social security and other taxes |
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VAT | 18,321 | 22,179 |
Accrued expenses |
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9. |
CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR |
30.6.20 | 30.6.19 |
£ | £ |
Hire purchase contracts |
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10. | SECURED DEBTS |
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The following secured debts are included within creditors: |
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30.6.20 | 30.6.19 |
£ | £ |
Hire purchase contracts | 48,716 | 59,101 |
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11. | PROVISIONS FOR LIABILITIES |
30.6.20 | 30.6.19 |
£ | £ |
Deferred tax | 13,781 | - |
ARROW ELECTRICAL & PLUMBING SERVICES |
LIMITED (REGISTERED NUMBER: 04794456) |
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NOTES TO THE FINANCIAL STATEMENTS - continued |
FOR THE YEAR ENDED 30TH JUNE 2020 |
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11. | PROVISIONS FOR LIABILITIES - continued |
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Deferred |
tax |
£ |
Movement in the year due to: |
Changes in tax allowances | (2,903 | ) |
Changes in tax losses |
Changes in tax rates |
Prior year adjustment | 16,684 |
Balance at 30th June 2020 |
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12. | CALLED UP SHARE CAPITAL |
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Allotted, issued and fully paid: |
Number: | Class: | Nominal | 30.6.20 | 30.6.19 |
value: | £ | £ |
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Ordinary A | £1 | 92 | 92 |
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Ordinary B | 1 | 5 | 5 |
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Ordinary C | 1 | 5 | 5 |
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Ordinary D | £1 | 5 | 5 |
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Ordinary E | £1 | 3 | 3 |
110 | 110 |
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13. | CAPITAL COMMITMENTS |
30.6.20 | 30.6.19 |
£ | £ |
Contracted but not provided for in the |
financial statements |
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14. | DIRECTOR'S ADVANCES, CREDITS AND GUARANTEES |
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The following advances and credits to a director subsisted during the years ended 30th June 2020 and 30th June 2019: |
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30.6.20 | 30.6.19 |
£ | £ |
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Balance outstanding at start of year |
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Amounts advanced |
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Amounts repaid | ( |
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Amounts written off | - | - |
Amounts waived | - | - |
Balance outstanding at end of year |
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ARROW ELECTRICAL & PLUMBING SERVICES |
LIMITED (REGISTERED NUMBER: 04794456) |
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NOTES TO THE FINANCIAL STATEMENTS - continued |
FOR THE YEAR ENDED 30TH JUNE 2020 |
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15. | RELATED PARTY DISCLOSURES |
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Edwards Property Holdings Limited |
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A company where N Edwards is a director and shareholder. |
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Loans outstanding at the year end which are classified in debtors amounted to £20,485 (2019: £20,485). |
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Rent was paid to Edwards Property Holdings of £12,510 (2019: £7,000) |
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16. | ULTIMATE CONTROLLING PARTY |
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The ultimate controlling party is
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