Company Registration No. SC310742 (Scotland)
ARKS LIMITED
UNAUDITED ABBREVIATED FINANCIAL STATEMENTS
FOR THE 18 MONTHS ENDED 31 MARCH 2016
ARKS LIMITED
CONTENTS
Page
Abbreviated balance sheet
1
Notes to the abbreviated accounts
2
ARKS LIMITED
ABBREVIATED BALANCE SHEET
AS AT
31 MARCH 2016
31 March 2016
- 1 -
2016
2014
Notes
£
£
£
£
Fixed assets
Intangible assets
2
34,506
34,506
Tangible assets
2
199
273
34,705
34,779
Current assets
Stocks
2,000
2,000
Debtors
1,519
956
Cash at bank and in hand
3,417
1,703
6,936
4,659
Creditors: amounts falling due within one year
(57,027)
(49,699)
Net current liabilities
(50,091)
(45,040)
Total assets less current liabilities
(15,386)
(10,261)
Capital and reserves
Called up share capital
3
100
100
Profit and loss account
(15,486)
(10,361)
Shareholder's funds
(15,386)
(10,261)
For the financial 18 Months ended 31 March 2016 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
Director's responsibilities:
-
The member has not required the company to obtain an audit of its financial statements for the 18 Months in question in accordance with section 476;
-
The director acknowledges her responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements.
These abbreviated financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies' regime.
Approved by the Board for issue on 22 December 2016
Mrs H Ramage
Director
Company Registration No. SC310742
ARKS LIMITED
NOTES TO THE ABBREVIATED ACCOUNTS
FOR THE 18 MONTHS ENDED 31 MARCH 2016
- 2 -
1
Accounting policies
1.1
Accounting convention
The financial statements are prepared under the historical cost convention and in accordance with the Financial Reporting Standard for Smaller Entities (effective April 2008).
1.2
Compliance with accounting standards
The financial statements are prepared in accordance with applicable United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice), which have been applied consistently (except as otherwise stated).
1.3
Turnover
Turnover represents amounts receivable for goods and services net of VAT and trade discounts.
1.4
Goodwill
Acquired goodwill is written off in equal annual instalments over its estimated useful economic life.
1.5
Tangible fixed assets and depreciation
Tangible fixed assets are stated at cost less depreciation. Depreciation is provided at rates calculated to write off the cost less estimated residual value of each asset over its expected useful life, as follows:
Plant and machinery
25% Reducing balance
Computer equipment
3 Years straight line
Fixtures, fittings & equipment
25% Reducing balance
2
Fixed assets
Intangible assets
Tangible assets
Total
£
£
£
Cost
At 1 November 2014 & at 31 March 2016
34,506
2,518
37,024
Depreciation
At 1 November 2014
-
2,245
2,245
Charge for the period
-
74
74
At 31 March 2016
-
2,319
2,319
Net book value
At 31 March 2016
34,506
199
34,705
At 31 October 2014
34,506
273
34,779
3
Share capital
2016
2014
£
£
Allotted, called up and fully paid
100 Ordinary of £1 each
100
100