Caseware UK (AP4) 2022.0.179 2022.0.179 2023-06-302023-06-3062022-07-01falseNo description of principal activity6truetrueThe members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006. 07641262 2022-07-01 2023-06-30 07641262 2021-07-01 2022-06-30 07641262 2023-06-30 07641262 2022-06-30 07641262 c:Director1 2022-07-01 2023-06-30 07641262 c:Director2 2022-07-01 2023-06-30 07641262 d:Buildings d:LongLeaseholdAssets 2022-07-01 2023-06-30 07641262 d:Buildings d:LongLeaseholdAssets 2023-06-30 07641262 d:Buildings d:LongLeaseholdAssets 2022-06-30 07641262 d:MotorVehicles 2022-07-01 2023-06-30 07641262 d:MotorVehicles 2023-06-30 07641262 d:MotorVehicles 2022-06-30 07641262 d:MotorVehicles d:OwnedOrFreeholdAssets 2022-07-01 2023-06-30 07641262 d:FurnitureFittings 2022-07-01 2023-06-30 07641262 d:FurnitureFittings 2023-06-30 07641262 d:FurnitureFittings 2022-06-30 07641262 d:FurnitureFittings d:OwnedOrFreeholdAssets 2022-07-01 2023-06-30 07641262 d:OfficeEquipment 2022-07-01 2023-06-30 07641262 d:OfficeEquipment 2023-06-30 07641262 d:OfficeEquipment 2022-06-30 07641262 d:OfficeEquipment d:OwnedOrFreeholdAssets 2022-07-01 2023-06-30 07641262 d:OwnedOrFreeholdAssets 2022-07-01 2023-06-30 07641262 d:Goodwill 2023-06-30 07641262 d:Goodwill 2022-06-30 07641262 d:CurrentFinancialInstruments 2023-06-30 07641262 d:CurrentFinancialInstruments 2022-06-30 07641262 d:CurrentFinancialInstruments d:WithinOneYear 2023-06-30 07641262 d:CurrentFinancialInstruments d:WithinOneYear 2022-06-30 07641262 d:ShareCapital 2023-06-30 07641262 d:ShareCapital 2022-06-30 07641262 d:RetainedEarningsAccumulatedLosses 2023-06-30 07641262 d:RetainedEarningsAccumulatedLosses 2022-06-30 07641262 c:FRS102 2022-07-01 2023-06-30 07641262 c:AuditExempt-NoAccountantsReport 2022-07-01 2023-06-30 07641262 c:FullAccounts 2022-07-01 2023-06-30 07641262 c:PrivateLimitedCompanyLtd 2022-07-01 2023-06-30 07641262 d:AcceleratedTaxDepreciationDeferredTax 2023-06-30 07641262 d:AcceleratedTaxDepreciationDeferredTax 2022-06-30 iso4217:GBP xbrli:pure

Registered number: 07641262










ART ANGELS PUBLISHING LIMITED








UNAUDITED

FINANCIAL STATEMENTS

INFORMATION FOR FILING WITH THE REGISTRAR

FOR THE YEAR ENDED 30 JUNE 2023

 
ART ANGELS PUBLISHING LIMITED
REGISTERED NUMBER:07641262

STATEMENT OF FINANCIAL POSITION
AS AT 30 JUNE 2023

2023
2022
Note
£
£

Fixed assets
  

Tangible assets
 5 
14,602
21,443

  
14,602
21,443

Current assets
  

Stocks
  
249,429
181,199

Debtors: amounts falling due within one year
 6 
102,368
122,704

Cash at bank and in hand
  
762,099
687,564

  
1,113,896
991,467

Creditors: amounts falling due within one year
 7 
(202,893)
(187,703)

Net current assets
  
 
 
911,003
 
 
803,764

Total assets less current liabilities
  
925,605
825,207

Provisions for liabilities
  

Deferred tax
 8 
-
(290)

  
 
 
-
 
 
(290)

Net assets
  
925,605
824,917


Capital and reserves
  

Called up share capital 
  
100
100

Profit and loss account
  
925,505
824,817

  
925,605
824,917


The directors consider that the Company is entitled to exemption from audit under section 477 of the Companies Act 2006 and members have not required the Company to obtain an audit for the year in question in accordance with section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.

The financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies regime and in accordance with the provisions of FRS 102 Section 1A - small entities.

The financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime.

The Company has opted not to file the income statement in accordance with provisions applicable to
Page 1

 
ART ANGELS PUBLISHING LIMITED
REGISTERED NUMBER:07641262
    
STATEMENT OF FINANCIAL POSITION (CONTINUED)
AS AT 30 JUNE 2023

companies subject to the small companies' regime.

The financial statements were approved and authorised for issue by the board and were signed on its behalf on 22 September 2023.




................................................
J Bennett-Rees
................................................
C Cordingly
Director
Director

The notes on pages 3 to 9 form part of these financial statements.

Page 2

 
ART ANGELS PUBLISHING LIMITED
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 JUNE 2023

1.


General information

Art Angels Publishing Limited is a company limited by shares incorporated in England within the United Kingdom. The address of the registered office is Suite 4, 2nd Floor, 13-15 St George's Street, Norwich, Norfolk, NR3 1AB

2.Accounting policies

 
2.1

Basis of preparation of financial statements

The financial statements have been prepared under the historical cost convention unless otherwise specified within these accounting policies and in accordance with Section 1A of Financial Reporting Standard 102, the Financial Reporting Standard applicable in the UK and the Republic of Ireland and the Companies Act 2006.

The following principal accounting policies have been applied:

 
2.2

Revenue

Revenue is recognised to the extent that it is probable that the economic benefits will flow to the Company and the revenue can be reliably measured. Revenue is measured as the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. The following criteria must also be met before revenue is recognised:

Sale of goods

Revenue from the sale of goods is recognised when all of the following conditions are satisfied:
the Company has transferred the significant risks and rewards of ownership to the buyer;
the Company retains neither continuing managerial involvement to the degree usually associated with ownership nor effective control over the goods sold;
the amount of revenue can be measured reliably;
it is probable that the Company will receive the consideration due under the transaction; and
the costs incurred or to be incurred in respect of the transaction can be measured reliably.

 
2.3

Finance costs

Finance costs are charged to profit or loss over the term of the debt using the effective interest method so that the amount charged is at a constant rate on the carrying amount. Issue costs are initially recognised as a reduction in the proceeds of the associated capital instrument.

Page 3

 
ART ANGELS PUBLISHING LIMITED
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 JUNE 2023

2.Accounting policies (continued)

 
2.4

Current and deferred taxation

The tax expense for the year comprises current and deferred tax. Tax is recognised in profit or loss except that a charge attributable to an item of income and expense recognised as other comprehensive income or to an item recognised directly in equity is also recognised in other comprehensive income or directly in equity respectively.

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 income.

Deferred tax balances are recognised in respect of all timing differences that have originated but not reversed by the reporting date, except that:
The recognition of deferred tax assets is limited to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits; and
Any deferred tax balances are reversed if and when all conditions for retaining associated tax allowances have been met.

Deferred tax balances are not recognised in respect of permanent differences except in respect of business combinations, when deferred tax is recognised on the differences between the fair values of assets acquired and the future tax deductions available for them and the differences between the fair values of liabilities acquired and the amount that will be assessed for tax. Deferred tax is determined using tax rates and laws that have been enacted or substantively enacted by the reporting date.

 
2.5

Intangible assets

Intangible assets are initially recognised at cost. After recognition, under the cost model, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses.

All intangible assets are considered to have a finite useful life. If a reliable estimate of the useful life cannot be made, the useful life shall not exceed ten years.

 
2.6

Tangible fixed assets

Tangible fixed assets under the cost model are stated at historical cost less accumulated depreciation and any accumulated impairment losses. Historical cost includes expenditure that is directly attributable to bringing the asset to the location and condition necessary for it to be capable of operating in the manner intended by management.

Page 4

 
ART ANGELS PUBLISHING LIMITED
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 JUNE 2023

2.Accounting policies (continued)


2.6
Tangible fixed assets (continued)

Depreciation is charged so as to allocate the cost of assets less their residual value over their estimated useful lives, using the straight-line method.

Depreciation is provided on the following basis:

L/Term Leasehold Property
-
11.11% straight line basis
Motor vehicles
-
25% Straight line basis
Fixtures & fittings
-
15% straight line basis
Office equipment
-
25% straight line basis

The assets' residual values, useful lives and depreciation methods are reviewed, and adjusted prospectively if appropriate, or if there is an indication of a significant change since the last reporting date.

Gains and losses on disposals are determined by comparing the proceeds with the carrying amount and are recognised in profit or loss.

 
2.7

Stocks

Stocks are stated at the lower of cost and net realisable value, being the estimated selling price less costs to complete and sell. Cost is based on the cost of purchase on a first in, first out basis. Work in progress and finished goods include labour and attributable overheads.

At each reporting date, stocks are assessed for impairment. If stock is impaired, the carrying amount is reduced to its selling price less costs to complete and sell. The impairment loss is recognised immediately in profit or loss.

 
2.8

Debtors

Short-term debtors are measured at transaction price, less any impairment. Loans receivable are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method, less any impairment.

 
2.9

Cash and cash equivalents

Cash is represented by cash in hand and deposits with financial institutions repayable without penalty on notice of not more than 24 hours. Cash equivalents are highly liquid investments that mature in no more than three months from the date of acquisition and that are readily convertible to known amounts of cash with insignificant risk of change in value.

 
2.10

Creditors

Short-term creditors are measured at the transaction price. Other financial liabilities, including bank loans, are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method.

Page 5

 
ART ANGELS PUBLISHING LIMITED
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 JUNE 2023

2.Accounting policies (continued)

 
2.11

Provisions for liabilities

Provisions are made where an event has taken place that gives the Company a legal or constructive obligation that probably requires settlement by a transfer of economic benefit, and a reliable estimate can be made of the amount of the obligation.
Provisions are charged as an expense to profit or loss in the year that the Company becomes aware of the obligation, and are measured at the best estimate at the reporting date of the expenditure required to settle the obligation, taking into account relevant risks and uncertainties.
When payments are eventually made, they are charged to the provision carried in the Statement of Financial Position.

 
2.12

Financial instruments

The Company has elected to apply the provisions of Section 11 “Basic Financial Instruments” of FRS 102 to all of its financial instruments.

Basic financial assets

Basic financial assets, which include trade and other receivables, cash and bank balances, are initially measured at their transaction price including transaction costs and are subsequently carried at their amortised cost using the effective interest method, less any provision for impairment, unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest.

Discounting is omitted where the effect of discounting is immaterial. The Company's cash and cash equivalents, trade and most other receivables due with the operating cycle fall into this category of financial instruments.

 
2.13

Dividends

Equity dividends are recognised when they become legally payable. Interim equity dividends are recognised when paid. Final equity dividends are recognised when approved by the shareholders.


3.


Employees

The average monthly number of employees, including directors, during the year was 6 (2022 - 6).

Page 6

 
ART ANGELS PUBLISHING LIMITED
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 JUNE 2023

4.


Intangible assets




Goodwill

£



Cost


At 1 July 2022
430,000



At 30 June 2023

430,000



Amortisation


At 1 July 2022
430,000



At 30 June 2023

430,000



Net book value



At 30 June 2023
-



At 30 June 2022
-



Page 7

 
ART ANGELS PUBLISHING LIMITED
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 JUNE 2023

5.


Tangible fixed assets





L/Term Leasehold Property
Motor vehicles
Fixtures & fittings
Office equipment
Total

£
£
£
£
£



Cost or valuation


At 1 July 2022
31,167
24,736
5,414
32,457
93,774


Additions
-
-
-
708
708



At 30 June 2023

31,167
24,736
5,414
33,165
94,482



Depreciation


At 1 July 2022
31,167
6,184
5,227
29,753
72,331


Charge for the year on owned assets
-
6,184
28
1,337
7,549



At 30 June 2023

31,167
12,368
5,255
31,090
79,880



Net book value



At 30 June 2023
-
12,368
159
2,075
14,602



At 30 June 2022
-
18,552
187
2,704
21,443


6.


Debtors

2023
2022
£
£


Trade debtors
90,544
121,904

Prepayments and accrued income
11,316
800

Deferred taxation
508
-

102,368
122,704


Page 8

 
ART ANGELS PUBLISHING LIMITED
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 JUNE 2023

7.


Creditors: Amounts falling due within one year

2023
2022
£
£

Trade creditors
92,322
61,851

Corporation tax
63,223
78,084

Other taxation and social security
13,820
25,581

Other creditors
8,468
4,713

Accruals and deferred income
25,060
17,474

202,893
187,703



8.


Deferred taxation




2023


£






At beginning of year
(290)


Charged to profit or loss
798



At end of year
508

The deferred taxation balance is made up as follows:

2023
2022
£
£


Accelerated capital allowances
508
(290)

508
(290)

 
Page 9