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Financial Statements |
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for the Year Ended 31 December 2019 |
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for |
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Arrowmere Capital 5 Limited |
REGISTERED NUMBER:
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Financial Statements |
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for the Year Ended 31 December 2019 |
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for |
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Arrowmere Capital 5 Limited |
Arrowmere Capital 5 Limited (Registered number: 06620213) |
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Contents of the Financial Statements |
for the Year Ended 31 December 2019 |
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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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Arrowmere Capital 5 Limited |
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Company Information |
for the Year Ended 31 December 2019 |
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DIRECTORS: |
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SECRETARY: |
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REGISTERED OFFICE: |
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REGISTERED NUMBER: |
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AUDITORS: |
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Statutory Auditors |
The Glades |
Festival Way |
Stoke on Trent |
Staffordshire |
ST1 5SQ |
Arrowmere Capital 5 Limited (Registered number: 06620213) |
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Balance Sheet |
31 December 2019 |
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2019 | 2018 |
Notes | £ | £ |
CURRENT ASSETS |
Debtors | 5 |
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Cash at bank |
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CREDITORS |
Amounts falling due within one year | 6 |
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NET CURRENT ASSETS |
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TOTAL ASSETS LESS CURRENT
LIABILITIES |
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CAPITAL AND RESERVES |
Called up share capital | 7 |
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Retained earnings |
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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 and authorised for issue by the Board of Directors and authorised
for issue on |
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Arrowmere Capital 5 Limited (Registered number: 06620213) |
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Notes to the Financial Statements |
for the Year Ended 31 December 2019 |
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1. | STATUTORY INFORMATION |
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Arrowmere Capital 5 Limited is a
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Wales. The company's registered number and registered office address can be found on the |
Company Information page. |
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2. | STATEMENT OF COMPLIANCE |
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3. | ACCOUNTING POLICIES |
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Basis of preparing the financial statements |
The financial statements have been prepared under the historical cost convention and are presented |
in Pounds Sterling (£) being the functional currency. |
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The financial statements have been prepared on the assumption that the company is able to carry |
on business as a going concern, which the directors consider appropriate having regard to the |
company's current and expected performance. |
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Financial instruments |
The company has elected to apply the provisions of Section 11 'Basic Financial Instruments' and |
Section 12 'Other Financial Instruments Issues' of FRS 102 to all of its financial instruments. |
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Financial instruments are recognised in the company's balance sheet when the company becomes |
party to the contractual provisions of the instrument. |
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Financial assets and liabilities are offset, with the net amounts presented in the financial |
statements, when there is a legally enforceable right to set off the recognised amounts and there is |
an intention to settle on a net basis or to realise the asset and settle the liability simultaneously. |
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Basic financial assets |
Basic financial assets, which include debtors and cash and bank balances, are initially measured at |
transaction price including transaction costs and are subsequently carried at amortised cost using |
the effective interest method unless the arrangement constitutes a financing transaction, where the |
transaction is measured at the present value of the future receipts discounted at a market rate of |
interest. Financial assets classified as receivable within one year are not amortised. |
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Impairment of financial assets |
Financial assets, other than those held at fair value through profit and loss, are assessed for |
indicators of impairment at each reporting end date. |
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Financial assets are impaired where there is objective evidence that, as a result of one or more |
events that occurred after the initial recognition of the financial asset, the estimated future cash |
flows have been affected. If an asset is impaired, the impairment loss is the difference between the |
carrying amount and the present value of the estimated cash flows discounted at the asset's original |
effective interest rate. The impairment loss is recognised in profit or loss. |
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If there is a decrease in the impairment loss arising from an event occurring after the impairment |
was recognised, the impairment is reversed. The reversal is such that the current carrying amount |
does not exceed what the carrying amount would have been, had the impairment not previously |
been recognised. The impairment reversal is recognised in profit or loss. |
Arrowmere Capital 5 Limited (Registered number: 06620213) |
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Notes to the Financial Statements - continued |
for the Year Ended 31 December 2019 |
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3. | ACCOUNTING POLICIES - continued |
Derecognition of financial assets |
Financial assets are derecognised only when the contractual rights to the cash flows from the asset |
expire or are settled, or when the company transfers the financial asset and substantially all the |
risks and rewards of ownership to another entity, or if some significant risks and rewards of |
ownership are retained but control of the asset has transferred to another party that is able to sell |
the asset in its entirety to an unrelated third party. |
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Classification of financial liabilities |
Financial liabilities and equity instruments are classified according to the substance of the |
contractual arrangements entered into. An equity instrument is any contract that evidences a |
residual interest in the assets of the company after deducting all of its liabilities. |
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Basic financial liabilities |
Basic financial liabilities, including creditors, bank loans and loans from fellow group companies, |
are initially recognised at transaction price unless the arrangement constitutes a financing |
transaction, where the debt instrument is measured at the present value of the future payments |
discounted at a market rate of interest. Financial liabilities classified as payable within one year |
are not amortised. |
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Debt instruments are subsequently carried at amortised cost, using the effective interest rate |
method. |
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Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary |
course of business from suppliers. Amounts payable are classified as current liabilities if payment is |
due within one year or less. If not, they are presented as non-current liabilities. Trade creditors are |
recognised initially at transaction price and subsequently measured at amortised cost using the |
effective interest method. |
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Derecognition of financial liabilities |
Financial liabilities are derecognised when the company's contractual obligations expire or are |
discharged or cancelled. |
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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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Arrowmere Capital 5 Limited (Registered number: 06620213) |
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Notes to the Financial Statements - continued |
for the Year Ended 31 December 2019 |
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3. | 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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4. | EMPLOYEES AND DIRECTORS |
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The average number of employees during the year was NIL (2018 - NIL). |
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5. | DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
2019 | 2018 |
£ | £ |
Amounts owed by group undertakings |
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6. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
2019 | 2018 |
£ | £ |
Taxation and social security |
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Other creditors |
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7. | CALLED UP SHARE CAPITAL |
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Allotted, issued and fully paid: |
Number: | Class: | Nominal | 2019 | 2018 |
value: | £ | £ |
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Ordinary Share | £1 | 1 | 1 |
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8. | 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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Arrowmere Capital 5 Limited (Registered number: 06620213) |
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Notes to the Financial Statements - continued |
for the Year Ended 31 December 2019 |
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9. | ULTIMATE PARENT COMPANY |
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The company is a 100% owned subsidiary of Arrowmere Holdings Limited, which is the ultimate |
parent company. The ultimate parent company prepares consolidated financial statements as at 31 |
December 2019 and these financial statements may be obtained from Bridge Street Chambers, 72 |
Bridge Street, Manchester, M3 2RJ. |