Registration number:
Arris Edge Ltd
for the Year Ended 30 June 2018
Arris Edge Ltd
(Registration number: NI072590)
Balance Sheet as at 30 June 2018
Note |
2018 |
2017 |
|
Fixed assets |
|||
Tangible assets |
|
|
|
Current assets |
|||
Debtors |
|
|
|
Cash at bank and in hand |
- |
|
|
|
|
||
Creditors: Amounts falling due within one year |
( |
( |
|
Net current (liabilities)/assets |
( |
|
|
Total assets less current liabilities |
|
|
|
Creditors: due after more than one year |
( |
( |
|
Net assets |
|
|
|
Capital and reserves |
|||
Called up share capital |
|
|
|
Profit and loss account |
|
|
|
Total equity |
|
|
For the financial year ending 30 June 2018 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
Director's responsibilities:
• |
|
• |
The director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts. |
These financial statements have been prepared in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006.
These financial statements have been 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.
Page 1 |
Arris Edge Ltd
(Registration number: NI072590)
Balance Sheet as at 30 June 2018
Approved and authorised by the
.........................................
Director
Page 2 |
Arris Edge Ltd
Notes to the Financial Statements for the Year Ended 30 June 2018
General information |
The company is a private company limited by share capital, incorporated in Northern Ireland.
The address of its registered office is:
These financial statements were authorised for issue by the
Accounting policies |
Summary of significant accounting policies and key accounting estimates
The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.
Statement of compliance
These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A - 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' and the Companies Act 2006.
Basis of preparation
These financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.
Revenue recognition
Turnover comprises the fair value of the consideration received or receivable for the provision of services in the ordinary course of the Company’s activities.
The Company recognises revenue when the amount of revenue can be reliably measured, it is probable that future economic benefits will flow to the entity and specific criteria have been met for each of the Company's activities.
Tax
The tax expense for the period comprises current tax. Tax is recognised in profit or loss, except that a change attributable to an item of income or expense recognised as other comprehensive income is also recognised directly in other comprehensive income.
The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the reporting date in the countries where the company operates and generates taxable income.
Tangible assets
Tangible assets are stated in the statement of financial position at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.
The cost of tangible assets includes directly attributable incremental costs incurred in their acquisition and installation.
Page 3 |
Arris Edge Ltd
Notes to the Financial Statements for the Year Ended 30 June 2018
Depreciation
Depreciation is charged so as to write off the cost of assets, other than land and properties under construction over their estimated useful lives, as follows:
Asset class |
Depreciation method and rate |
Fixtures and fittings |
20% reducing balance |
Cash and cash equivalents
Cash and cash equivalents comprise cash on hand and call deposits, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value.
Short-term debtors and creditors
Debtors and creditors with no stated interest rate and receivable or payable within one year are recorded at transaction price. Any losses arising from impairment are recognised in the income statement in operating expenses.
Borrowings
Borrowings are classified as current liabilities unless the company has an unconditional right to defer settlement of the liability for at least twelve months after the reporting date.
Share capital
Ordinary shares are classified as equity. Equity instruments are measured at the fair value of the cash or other resources received or receivable, net of the direct costs of issuing the equity instruments. If payment is deferred and the time value of money is material, the initial measurement is on a present value basis.
Page 4 |
Arris Edge Ltd
Notes to the Financial Statements for the Year Ended 30 June 2018
Tangible assets |
Land and buildings |
Furniture, fittings and equipment |
Other tangible assets |
Total |
|
Cost or valuation |
||||
At 1 July 2017 |
|
|
|
|
At 30 June 2018 |
|
|
|
|
Depreciation |
||||
At 1 July 2017 |
- |
|
|
|
Charge for the year |
- |
|
|
|
At 30 June 2018 |
- |
|
|
|
Carrying amount |
||||
At 30 June 2018 |
|
|
|
|
At 30 June 2017 |
|
|
|
|
Included within the net book value of land and buildings above is £799,885 (2017 - £799,885) in respect of freehold land and buildings.
Debtors |
2018 |
2017 |
|
Other debtors |
|
|
|
|
Page 5 |
Arris Edge Ltd
Notes to the Financial Statements for the Year Ended 30 June 2018
Creditors |
2018 |
2017 |
|
Due within one year |
||
Bank loans and overdrafts |
|
- |
Accruals |
4,780 |
4,000 |
Corporation tax |
5,410 |
1,110 |
|
|
Creditors: due after more than one year |
2018 |
2017 |
|
Non-current loans and borrowings |
||
Directors current account |
|
|
Page 6 |