Company Registration No. 07001301 (United Kingdom)
ARTI PROMOTIONS LIMITED
ABBREVIATED ACCOUNTS
FOR THE YEAR ENDED 31 AUGUST 2016
ARTI PROMOTIONS LIMITED
CONTENTS
Page
Abbreviated balance sheet
1
Notes to the abbreviated accounts
2 - 3
ARTI PROMOTIONS LIMITED
ABBREVIATED BALANCE SHEET
AS AT
31 AUGUST 2016
31 August 2016
- 1 -
2016
2015
Notes
£
£
£
£
Fixed assets
Tangible assets
2
5,818
7,281
Current assets
Stocks
1,500
1,600
Debtors
68,822
50,078
Cash at bank and in hand
31,784
-
102,106
51,678
Creditors: amounts falling due within one year
(76,135)
(56,878)
Net current assets/(liabilities)
25,971
(5,200)
Total assets less current liabilities
31,789
2,081
Capital and reserves
Called up share capital
3
3
3
Profit and loss account
31,786
2,078
Shareholders' funds
31,789
2,081
For the financial year ended 31 August 2016 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 year 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 abbreviated financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies' regime.
Approved by the Board for issue on 9 March 2017
Mrs V Thompson
Mr S Thompson
Director
Director
Company Registration No. 07001301
ARTI PROMOTIONS LIMITED
NOTES TO THE ABBREVIATED ACCOUNTS
FOR THE YEAR ENDED 31 AUGUST 2016
- 2 -
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 January 2015).
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
Turnover
Turnover represents amounts receivable for goods and services net of VAT and trade discounts.
1.4
Tangible fixed assets and depreciation
Tangible fixed assets are stated at cost less depreciation. Depreciation is provided at rates calculated to write off the cost less estimated residual value of each asset over its expected useful life, as follows:
Plant and machinery
20% reducing balance
Computer equipment
20% reducing balance
Fixtures, fittings & equipment
20% reducing balance
1.5
Pensions
The company makes payments into a personal pension scheme for the benefit of its employees. Contributions payable are charged to the profit and loss account in the year they are payable.
2
Fixed assets
Tangible assets
£
Cost
At 1 September 2015 & at 31 August 2016
19,610
Depreciation
At 1 September 2015
12,328
Charge for the year
1,464
At 31 August 2016
13,792
Net book value
At 31 August 2016
5,818
At 31 August 2015
7,281
ARTI PROMOTIONS LIMITED
NOTES TO THE ABBREVIATED ACCOUNTS (CONTINUED)
FOR THE YEAR ENDED 31 AUGUST 2016
- 3 -
3
Share capital
2016
2015
£
£
Allotted, called up and fully paid
3 Ordinary shares of 1 each
3
3