REGISTERED NUMBER: 02235902 (England and Wales)

Abbreviated Unaudited Accounts

for the Year Ended 31 May 2014

for

Arrow Engineering Components Limited

Page

Company Information

1

Abbreviated Balance Sheet

2

Notes to the Abbreviated Accounts

4

DIRECTORS:

Mr R Arrowsmith

Mrs J L Arrowsmith

SECRETARY:

Mrs J L Arrowsmith

REGISTERED OFFICE:

72 Liverpool Street

Salford

Manchester

M5 4LT

REGISTERED NUMBER:

02235902 (England and Wales)

ACCOUNTANTS:

Freedman Frankl & Taylor

Chartered Accountants

Reedham House

31 King Street West

Manchester

M3 2PJ

FIXED ASSETS

Tangible assets

2

157,431

172,262

CURRENT ASSETS

Stocks

685,800

665,590

Debtors

279,536

339,025

Cash in hand

72

-

965,408

1,004,615

CREDITORS

Amounts falling due within one year

3

752,770

736,116

NET CURRENT ASSETS

212,638

268,499

TOTAL ASSETS LESS CURRENT LIABILITIES

370,069

440,761

CREDITORS

Amounts falling due after more than one year

3

(142,970

)

(199,917

)

PROVISIONS FOR LIABILITIES

(17,032

)

(12,139

)

NET ASSETS

210,067

228,705

CAPITAL AND RESERVES

Called up share capital

4

165,000

165,000

Profit and loss account

45,067

63,705

SHAREHOLDERS' FUNDS

210,067

228,705

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 May 2014.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 May 2014 in accordance with Section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for:

(a)	ensuring that the company keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006 and

(b)

preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of each financial year and of its profit or loss for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the company.

The abbreviated accounts have been prepared in accordance with the special provisions of Part 15 of the Companies Act 2006 relating to small companies.

The financial statements were approved by the Board of Directors on 27 February 2015 and were signed on its behalf by:

Mr R Arrowsmith - Director

Mrs J L Arrowsmith - Director

1.	ACCOUNTING POLICIES

Accounting convention

The financial statements have been prepared under the historical cost convention and in accordance with the

Financial Reporting Standard for Smaller Entities (effective April 2008).

Turnover

Turnover represents the invoice value of goods and services provided net of value added tax.

Tangible fixed assets

Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life or, if held under a finance lease, over the lease term, whichever is the shorter.

Improvements to property

-

2% on cost

Plant and machinery

-

10% on cost

Fixtures and fittings

-

10% on cost

Motor vehicles

-

25% on cost

Computer equipment

-

33% on cost

Stocks

Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow

moving items.

Deferred tax

Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance

sheet date.

Foreign currencies

Assets and liabilities in foreign currencies are translated into sterling at the rates of exchange ruling at the

balance sheet date. Transactions in foreign currencies are translated into sterling at the rate of exchange ruling at

the date of transaction. Exchange differences are taken into account in arriving at the operating result.

Hire purchase and leasing commitments

Assets obtained under hire purchase contracts or finance leases are capitalised in the balance sheet. Those held

under hire purchase contracts are depreciated over their estimated useful lives. Those held under finance leases

are depreciated over their estimated useful lives or the lease term, whichever is the shorter.

The interest element of these obligations is charged to the profit and loss account over the relevant period. The

capital element of the future payments is treated as a liability.

Pension costs and other post-retirement benefits

The company operates a defined contribution pension scheme. Contributions payable to the company's pension

scheme are charged to the profit and loss account in the period to which they relate.

Going concern

The company's financial statements for the year ended 31 May 2014 have been prepared on a going concern

basis as, after making appropriate enquiries, the directors have a reasonable expectation that the company has

adequate resources to continue in operational existence for the foreseeable future.

2.	TANGIBLE FIXED ASSETS

Total

£

COST

At 1 June 2013

527,046

Additions

16,736

Disposals

(29,048

)

At 31 May 2014

514,734

DEPRECIATION

At 1 June 2013

354,784

Charge for year

31,326

Eliminated on disposal

(28,807

)

At 31 May 2014

357,303

NET BOOK VALUE

At 31 May 2014

157,431

At 31 May 2013

172,262

3.

CREDITORS

Creditors include an amount of £ 403,668 (2013 - £ 480,524 ) for which security has been given.

They also include the following debts falling due in more than five years:

2014

2013

£

£

Repayable by instalments

18,807

53,648

4.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

2014

2013

value:

£

£

165,000

Ordinary

£1

165,000

165,000