ARC Integrated Systems Ltd
|
For the year ended 30 June 2015
Unaudited Abbreviated Report and Financial Statements
England and Wales
Registered Number: 06929467
ARC Integrated Systems Ltd
For the year ended 30 June 2015
1
Balance Sheet
2 to 3
Notes to the Abbreviated Financial Statements
Abbreviated Balance Sheet
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ARC Integrated Systems Ltd
2015
2014
2
12,600
13,500
3
1,385
1,621
13,985
15,121
658
3,129
902
793
7,795
8,919
11,717
10,479
Creditors
:
amounts falling due within one year
|
(23,169)
(23,020)
(12,690)
(11,303)
Net current liabilities
Total assets less current liabilities
|
2,682
2,431
7
22
Provisions for liabilities
|
2,689
Net assets
2,453
1
4
1
2,688
2,452
2,689
2,453
Shareholders funds
For the year ended 30 June 2015 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
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Director responsibilities: 1) The members have not required the company to obtain an audit of its accounts for the year in question in accordance with section 476;
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2) The director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts
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These accounts have been prepared in accordance with the provisions applicable to companies subject to the small companies' regime.
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Date approved by the board: 18 January 2016
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Mr Iain Roy Taylor Director
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Signed on behalf of the board of directors
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1 of 3
Notes to the Abbreviated Financial Statements
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For the year ended 30 June 2015
ARC Integrated Systems Ltd
The financial statements are prepared under the historical cost convention and in accordance with the Financial Reporting Standard for Smaller Entities (effective April 2008).
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Turnover comprises the invoiced value of goods and services supplied by the company, net of Value Added Tax and trade discounts.
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Deferred taxation arises when items are charged or credited in accounts in different periods to those in which they are included in the company's tax computations.Deferred tax is provided in full on timing differences that result in an obligation to pay more (or less) tax at a future date. Deferred tax is calculated at the average rates that are expected to apply when the timing differences reverse, based on current tax rates and laws. The resulting deferred tax asset or liability is not discounted.
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Proposed dividends are only included as liabilities in the financial statements when their payment has been approved by the
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shareholders prior to the balance sheet date
.
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Acquired goodwill is stated at cost less amortisation
.
Amortisation is calculated on a straight line basis over the estimated
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expected useful economic life of the goodwill of
20
years
.
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Tangible fixed assets, other than freehold land, are stated at cost or valuation less depreciation and any provision for impairment. Depreciation is provided at rates calculated to write off the cost or valuation of fixed assets, less their estimated residual value, over their expected useful lives on the following basis:
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Plant and Machinery
Motor Vehicles
Fixtures and Fittings
Stocks and work in progress
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Stocks and work in progress are valued at the lower of cost and net realisable value after making due allowance for obsolete and slow moving items. Cost includes all direct costs and an appropriate proportion of fixed and variable overheads.
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2 of 3
Notes to the Abbreviated Financial Statements
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For the year ended 30 June 2015
ARC Integrated Systems Ltd
2
Intangible fixed assets
|
18,000
18,000
4,500
900
Charge for year
5,400
12,600
13,500
6,103
229
6,332
4,482
465
Charge for year
4,947
1,385
1,621
Allotted called up and fully paid
|
2015
2014
1
Ordinary shares of £
1
.
00
each
|
1
1
1
1
3 of 3