Company Registration No. SC474233 (Scotland)
ARX DEFENCE LIMITED
DIRECTORS' REPORT AND UNAUDITED FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 30 APRIL 2015
ARX DEFENCE LIMITED
COMPANY INFORMATION
Directors
Mr Steven Regis
(Appointed 2 April 2014)
Mr Joshua Hutchison
(Appointed 2 April 2014)
Company number
SC474233
Registered office
The Corn Exchange
29 Constitution Street
Leith
Edinburgh
EH6 7BS
Accountants
David Marshall Associates
CBC House
24 Canning Street
Edinburgh
EH3 8EG
ARX DEFENCE LIMITED
CONTENTS
Page
Directors' report
1
Accountants' report
2
Profit and loss account
3
Balance sheet
4
Notes to the financial statements
5 - 7
ARX DEFENCE LIMITED
DIRECTORS' REPORT
FOR THE PERIOD ENDED 30 APRIL 2015
- 1 -
The directors present their report and financial statements for the period ended 30 April 2015.
Directors
The following directors have held office since 2 April 2014:
Mr Steven Regis
(Appointed 2 April 2014)
Mr Joshua Hutchison
(Appointed 2 April 2014)
This report has been prepared in accordance with the special provisions relating to small companies within Part 15 of the Companies Act 2006.
On behalf of the board
Mr Steven Regis
Director
30 December 2015
ARX DEFENCE LIMITED
ACCOUNTANTS' REPORT TO THE BOARD OF DIRECTORS ON THE PREPARATION OF THE UNAUDITED STATUTORY FINANCIAL STATEMENTS OF ARX DEFENCE LIMITED FOR THE PERIOD ENDED 30 APRIL 2015
- 2 -
In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the financial statements of ARX Defence Limited for the period ended 30 April 2015 set out on pages 3 to 7 from the company’s accounting records and from information and explanations you have given us.
As a practising member firm of the
Institute of Chartered Accountants in Scotland
, we are subject to its ethical and other professional requirements which are detailed at
icas.com/regulations.
This report is made solely to the Board of Directors of ARX Defence Limited, as a body, in accordance with the terms of our engagement letter dated 18 November 2015. Our work has been undertaken solely to prepare for your approval the financial statements of ARX Defence Limited and state those matters that we have agreed to state to the Board of Directors of ARX Defence Limited, as a body, in this report in accordance with
Institute of Chartered Accountants in Scotland
as detailed at
icas.com/regulations
. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than ARX Defence Limited and its Board of Directors as a body, for our work or for this report.
It is your duty to ensure that ARX Defence Limited has kept adequate accounting records and to prepare statutory financial statements that give a true and fair view of the assets, liabilities, financial position and loss of ARX Defence Limited. You consider that ARX Defence Limited is exempt from the statutory audit requirement for the period.
We have not been instructed to carry out an audit or a review of the financial statements of ARX Defence Limited. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory financial statements.
David Marshall Associates
30 December 2015
Accountants
CBC House
24 Canning Street
Edinburgh
EH3 8EG
ARX DEFENCE LIMITED
PROFIT AND LOSS ACCOUNT
FOR THE PERIOD ENDED 30 APRIL 2015
- 3 -
Period
ended
30 April
2015
Notes
£
Cost of sales
(14,454)
Administrative expenses
(4,566)
Other operating income
5,000
Loss on ordinary activities before taxation
(14,020)
Tax on loss on ordinary activities
2
-
Loss for the period
7
(14,020)
The profit and loss account has been prepared on the basis that all operations are continuing operations.
There are no recognised gains and losses other than those passing through the profit and loss account.
ARX DEFENCE LIMITED
BALANCE SHEET
AS AT
30 APRIL 2015
30 April 2015
- 4 -
2015
Notes
£
£
Fixed assets
Intangible assets
3
1,044
Current assets
Debtors
4
1,000
Cash at bank and in hand
6,558
7,558
Creditors: amounts falling due within one year
5
(1,500)
Net current assets
6,058
Total assets less current liabilities
7,102
Capital and reserves
Called up share capital
6
1,268
Share premium account
7
19,854
Profit and loss account
7
(14,020)
Shareholders' funds
8
7,102
For the financial period ended 30 April 2015 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
Directors' responsibilities:
-
The members have not required the company to obtain an audit of its financial statements for the period in question in accordance with section 476;
-
The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements.
These financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies' regime.
Approved by the Board and authorised for issue on 30 December 2015
Mr Steven Regis
Director
Company Registration No. SC474233
ARX DEFENCE LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 30 APRIL 2015
- 5 -
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 ).
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
Patents
Patents are valued at cost less accumulated amortisation. Amortisation is calculated to write off the cost in equal annual instalments over their estimated useful lives.
1.4
Deferred taxation
Deferred taxation is provided in full in respect of taxation deferred by timing differences between the treatment of certain items for taxation and accounting purposes. The deferred tax balance has not been discounted.
2
Taxation
2015
£
Total current tax
-
Factors affecting the tax charge for the period
Loss on ordinary activities before taxation
(14,020)
Loss on ordinary activities before taxation multiplied by standard rate of UK corporation tax of 0.00%
-
Current tax charge for the period
-
The company has estimated losses of £ 14,020 available for carry forward against future trading profits.
ARX DEFENCE LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE PERIOD ENDED 30 APRIL 2015
- 6 -
3
Intangible fixed assets
Other intangible assets
£
Cost
At 2 April 2014
-
Additions
1,044
At 30 April 2015
1,044
Net book value
At 30 April 2015
1,044
4
Debtors
2015
£
Other debtors
1,000
5
Creditors: amounts falling due within one year
2015
£
Other creditors
1,500
6
Share capital
2015
£
Allotted, called up and fully paid
1,268 Ordinary shares of £1 each
1,268
During the year
1,000
ordinary shares of £
1
were allotted and fully paid at par for cash consideration to provide
initial
working capital.
A further 268 ordinary shares of nominal value £1 were issued at a premium and were allotted and fully paid for cash consideration to raise additional working capital.
ARX DEFENCE LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE PERIOD ENDED 30 APRIL 2015
- 7 -
7
Statement of movements on reserves
Share premium account
Profit
and loss
account
£
£
Loss for the period
-
(14,020)
Premium on shares issued during the period
19,854
-
Balance at 30 April 2015
19,854
(14,020)
8
Reconciliation of movements in Shareholders' funds
2015
£
Loss for the financial period
(14,020)
Proceeds from issue of shares
21,122
Net addition to shareholders' funds
7,102
Opening Shareholders' funds
-
Closing Shareholders' funds
7,102
ARX DEFENCE LIMITED
MANAGEMENT INFORMATION
FOR THE PERIOD ENDED 30 APRIL 2015
ARX DEFENCE LIMITED
SCHEDULE OF ADMINISTRATIVE EXPENSES
FOR THE PERIOD ENDED 30 APRIL 2015
Period
ended
30 April
2015
£
Administrative expenses
Printing, postage and stationery
75
Telephone
150
Computer running costs
641
Travelling expenses
400
Legal and prof fees - allowable
1,800
Accountancy
1,500
4,566
2015-04-30
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