for the Year Ended
Academy Arts Limited
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Academy Arts Limited
Company Information
Director |
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Company secretary |
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Registered office |
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Registered number |
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Accountants |
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Academy Arts Limited
Director's Report for the Year Ended 31 March 2015
The director presents her report and the unaudited financial statements for the year ended 31 March 2015.
Director of the company
The director who held office during the year was as follows:
Small company provisions
This report has been prepared in accordance with the small companies regime under the Companies Act 2006.
Approved by the Board on
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N Jones
Director
Chartered Accountants' Report to the Director on the Preparation of the Unaudited Statutory Accounts of
Academy Arts Limited
for the Year Ended 31 March 2015
In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the accounts of Academy Arts Limited for the year ended 31 March 2015 set out on pages 4 to 8 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 England and Wales (ICAEW) , we are subject to its ethical and other professional requirements which are detailed at icaew.com/membershandbook .
This report is made solely to the Board of Directors of Academy Arts Limited, as a body, in accordance with the terms of our engagement letter. Our work has been undertaken solely to prepare for your approval the accounts of Academy Arts Limited and state those matters that we have agreed to state to them, as a body, in this report in accordance with AAF 2/10 as detailed at icaew.com/compilation . To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than Academy Arts Limited and its Board of Directors as a body for our work or for this report.
It is your duty to ensure that Academy Arts Limited has kept adequate accounting records and to prepare statutory accounts that give a true and fair view of the assets, liabilities, financial position and profit of Academy Arts Limited. You consider that Academy Arts Limited is exempt from the statutory audit requirement for the year.
We have not been instructed to carry out an audit or a review of the accounts of Academy Arts 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 accounts.
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Mark Smith & Co
8 The Shrubberies
George Lane
South Woodford
London
E18 1BD
29 December 2015
Academy Arts Limited
Profit and Loss Account for the Year Ended 31 March 2015
Note |
2015
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2014
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Turnover |
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Cost of sales |
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Gross profit |
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Administrative expenses |
( |
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Operating profit |
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Other interest receivable and similar income |
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Profit on ordinary activities before taxation |
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Tax on profit on ordinary activities |
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- |
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Profit for the financial year |
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4
Academy Arts Limited
(Registration number: 05580596)
Balance Sheet at 31 March 2015
Note |
2015
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2014
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Fixed assets |
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Tangible fixed assets |
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Current assets |
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Debtors |
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Cash at bank and in hand |
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Creditors: Amounts falling due within one year |
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Net current liabilities |
( |
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Net assets/(liabilities) |
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Capital and reserves |
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Called up share capital |
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Profit and loss account |
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Shareholders' funds/(deficit) |
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( |
Approved and authorised for issue by the director on
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N Jones
Director
5
Academy Arts Limited
Notes to the Financial Statements for the Year Ended 31 March 2015
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Accounting policies |
Basis of preparation
Turnover
Depreciation
Depreciation is provided on tangible fixed assets so as to write off the cost or valuation, less any estimated residual value, over their expected useful economic life as follows:
Asset class |
Depreciation method and rate |
Equipment |
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Operating profit |
Operating profit is stated after charging:
2015
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2014
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Depreciation of tangible fixed assets |
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Director's remuneration |
The director's remuneration for the year was as follows:
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2014
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Remuneration |
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Taxation |
Tax on profit on ordinary activities
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2014
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Current tax |
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Corporation tax charge |
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- |
Academy Arts Limited
Notes to the Financial Statements for the Year Ended 31 March 2015
......... continued
Tangible fixed assets |
Plant and machinery
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Total
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Cost or valuation |
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At 1 April 2014 |
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Depreciation |
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At 1 April 2014 |
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Charge for the year |
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At 31 March 2015 |
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Net book value |
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At 31 March 2015 |
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At 31 March 2014 |
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Debtors |
2015
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2014
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Trade debtors |
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Creditors: Amounts falling due within one year |
2015
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2014
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Corporation tax |
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- |
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Other creditors |
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Share capital |
Allotted, called up and fully paid shares
2015 |
2014 |
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No. |
£ |
No. |
£ |
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Academy Arts Limited
Notes to the Financial Statements for the Year Ended 31 March 2015
......... continued
Dividends |
2015
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2014
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Dividends paid |
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Current year interim dividend paid |
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Reserves |
Profit and loss account
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Total
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At 1 April 2014 |
(1,316) |
(1,316) |
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Profit for the year |
6,834 |
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Dividends |
(5,000) |
( |
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At 31 March 2015 |
518 |
518 |
Control |
The company is controlled by the director who owns 100% of the called up share capital.