Arinite Limited
|
Registered number: |
07801113
|
Balance sheet |
as at 31 October 2017
|
|
Notes |
|
|
2017 |
|
|
2016 |
£ |
£ |
Fixed assets |
Tangible assets |
4 |
|
|
4,048 |
|
|
1,607 |
|
Current assets |
Debtors |
5 |
|
82,105 |
|
|
59,069 |
Cash at bank and in hand |
|
|
98,407 |
|
|
96,744 |
|
|
|
180,512 |
|
|
155,813 |
|
Creditors: amounts falling due within one year |
6 |
|
(210,813) |
|
|
(211,121) |
|
Net current liabilities |
|
|
|
(30,301) |
|
|
(55,308) |
|
Total assets less current liabilities |
|
|
|
(26,253) |
|
|
(53,701) |
|
|
Provisions for liabilities |
|
|
|
(1,350) |
|
|
- |
|
Net liabilities |
|
|
|
(27,603) |
|
|
(53,701) |
|
|
|
|
|
|
|
|
Capital and reserves |
Called up share capital |
|
|
|
100 |
|
|
100 |
Profit and loss account |
|
|
|
(27,703) |
|
|
(53,801) |
|
Shareholders' funds |
|
|
|
(27,603) |
|
|
(53,701) |
|
|
|
|
|
|
|
|
These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and the option not to file the profit and loss account has been taken, under s444.
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|
The directors are satisfied that the company is entitled to exemption from the requirement to obtain an audit under section 477 of the Companies Act 2006.
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|
The members have not required the company to obtain an audit in accordance with section 476 of the Act.
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The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of unaudited financial statements.
|
|
|
……………………………… |
Mr R Winsloe |
Director |
Approved by the board on 2 February 2018
|
|
Arinite Limited
|
Notes to the unaudited financial statements |
for the year ended 31 October 2017
|
|
|
1 |
General Information |
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Arinite Limited is a private company limited by shares and incorporated in England and Wales. Its registered office is : Warnford Court, 29 Throgmorton Street, London, United Kingdom, EC2N 2AT. |
|
2 |
Accounting policies |
|
|
Basis of preparation |
|
These financial statements have been prepared in accordance with the provisions of Financial Reporting Standard 102 Section 1A "Small Entities". "The Financial Reporting Standard applicable in the UK and Republic of Ireland" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.
|
|
|
Turnover |
|
Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover includes revenue earned from the sale of goods and from the rendering of services. Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods have transferred to the buyer. Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs.
|
|
|
Tangible fixed assets |
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Tangible fixed assets are measured at cost less accumulative depreciation and any accumulative impairment losses. Depreciation is provided on all tangible fixed assets, other than freehold land, at rates calculated to write off the cost, less estimated residual value, of each asset evenly over its expected useful life, as follows:
|
|
|
Computer equipment |
25% straight line |
|
Furniture and fixture |
25% straight line |
|
|
Debtors |
|
Short term debtors are measured at transaction price (which is usually the invoice price), less any impairment losses for bad and doubtful debts. Loans and other financial assets are initially recognised at transaction price including any transaction costs and subsequently measured at amortised cost determined using the effective interest method, less any impairment losses for bad and doubtful debts.
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|
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Creditors |
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Short term creditors are measured at transaction price (which is usually the invoice price). Loans and other financial liabilities are initially recognised at transaction price net of any transaction costs and subsequently measured at amortised cost determined using the effective interest method.
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|
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Pensions |
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Contributions to defined contribution plans are expensed in the period to which they relate.
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|
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3 |
Average number of employees during the year |
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|
The average number of employees, including directors, during the year was as follows: |
|
|
|
|
|
|
|
2017 |
|
2016 |
Number |
Number |
|
|
Number of employees |
2 |
|
2 |
|
|
|
|
|
|
|
|
|
|
4 |
Tangible fixed assets |
|
|
|
|
Computer equipment |
|
Furniture and fixture |
|
Total |
£ |
£ |
£ |
|
Cost |
|
At 1 November 2016 |
2,889 |
|
- |
|
2,889 |
|
Additions |
3,005 |
|
400 |
|
3,405 |
|
At 31 October 2017 |
5,894 |
|
400 |
|
6,294 |
|
|
|
|
|
|
|
|
|
|
Depreciation |
|
At 1 November 2016 |
1,282 |
|
- |
|
1,282 |
|
Charge for the year |
931 |
|
33 |
|
964 |
|
At 31 October 2017 |
2,213 |
|
33 |
|
2,246 |
|
|
|
|
|
|
|
|
|
|
Net book value |
|
At 31 October 2017 |
3,681 |
|
367 |
|
4,048 |
|
At 31 October 2016 |
1,607 |
|
- |
|
1,607 |
|
|
|
|
|
|
|
|
|
|
5 |
Debtors |
2017 |
|
2016 |
£ |
£ |
|
|
Trade debtors |
82,105 |
|
53,069 |
|
Amount due from group undertakings |
|
- |
|
6,000 |
|
|
|
|
|
|
82,105 |
|
59,069 |
|
|
|
|
|
|
|
|
|
|
6 |
Creditors: amounts falling due within one year |
2017 |
|
2016 |
£ |
£ |
|
|
Trade creditors |
1,970 |
|
- |
|
Other taxes and social security costs |
40,346 |
|
36,692 |
|
Directors' loan account |
30,456 |
|
53,419 |
|
Accruals and deferred income |
135,289 |
|
121,010 |
|
Other creditors |
2,752 |
|
- |
|
|
|
|
|
|
210,813 |
|
211,121 |
|
|
|
|
|
|
|
|
|
|
7 |
Related party transactions |
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|
Mr R Winsloe |
|
|
Director |
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|
During the year, the director's current account of Mr R Winsloe was credited with capital introduced of £8,270 and charged with drawings of £16,200. The balance owed to Mr R Winsloe at 31 October 2017 was £23,101 (2016 : £31,031) |
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These amounts are interest free and there is no fixed repayment date. |
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|
Mr B Tuite |
|
|
Director and shareholder |
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During the year, the director's current account of Mr B Tuite was credited with capital introduced of £1,450 and charged with drawings of £13,939. The balance owed to Mr B Tuite at 31 October 2017 was £7,355 (2016 : £19,844) |
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These amounts are interest free and there is no fixed repayment date. |