Registered number
11001748
ARTA AWARDS LIMITED
Filleted Accounts
31 March 2023
ARTA AWARDS LIMITED
Registered number: 11001748
Balance Sheet
as at 31 March 2023
Notes 2023 2022
£ £
Fixed assets
Intangible assets 3 982,139 802,139
Tangible assets 4 69,870 69,870
1,052,009 872,009
Current assets
Debtors 5 14,274 29,881
Cash at bank and in hand 16,154 478
30,428 30,359
Creditors: amounts falling due within one year 6 (545,285) (1,039,451)
Net current liabilities (514,857) (1,009,092)
Total assets less current liabilities 537,152 (137,083)
Creditors: amounts falling due after more than one year 7 (1,045,456) (328,318)
Net liabilities (508,304) (465,401)
Capital and reserves
Called up share capital 20 20
Share premium 9,999 9,999
Profit and loss account (518,323) (475,420)
Shareholder's funds (508,304) (465,401)
The director is satisfied that the company is entitled to exemption from the requirement to obtain an audit under section 477 of the Companies Act 2006.
The member has not required the company to obtain an audit in accordance with section 476 of the Act.
The director acknowledges his responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts.
The accounts have been prepared and delivered in accordance with the special provisions applicable to companies subject to the small companies regime. The profit and loss account has not been delivered to the Registrar of Companies.
Mohammed Abdul Munim
Director
Approved by the board on 7 August 2023
ARTA AWARDS LIMITED
Notes to the Accounts
for the year ended 31 March 2023
1 Accounting policies
Basis of preparation
The accounts have been prepared under the historical cost convention and in accordance with FRS 102, The Financial Reporting Standard applicable in the UK and Republic of Ireland (as applied to small entities by section 1A of the standard).
Turnover
Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover includes revenue earned from the sale of goods and from the rendering of services. Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods have transferred to the buyer. Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs.
Intangible fixed assets
Intangible fixed assets are measured at cost less accumulative amortisation and any accumulative impairment losses.
Tangible fixed assets
Tangible fixed assets are measured at cost less accumulative depreciation and any accumulative impairment losses. Depreciation is provided on all tangible fixed assets, other than freehold land, at rates calculated to write off the cost, less estimated residual value, of each asset evenly over its expected useful life, as follows:
Goodwill Nil
Plant and machinery Nil
2 Employees 2023 2022
Number Number
Average number of persons employed by the company 0 0
3 Intangible fixed assets £
Goodwill:
Cost
At 1 April 2022 802,139
Additions 180,000
At 31 March 2023 982,139
Amortisation
At 31 March 2023 -
Net book value
At 31 March 2023 982,139
At 31 March 2022 802,139
Goodwill is being written off in equal annual instalments over its estimated economic life of 5 years.
4 Tangible fixed assets
Plant and machinery etc
£
Cost
At 1 April 2022 69,870
At 31 March 2023 69,870
Depreciation
At 31 March 2023 -
Net book value
At 31 March 2023 69,870
At 31 March 2022 69,870
5 Debtors 2023 2022
£ £
Trade debtors - 19,559
Other debtors 14,274 10,322
14,274 29,881
6 Creditors: amounts falling due within one year 2023 2022
£ £
Bank loans and overdrafts 22,400 30,174
Directors current account 510,688 1,002,133
Other creditors 12,197 7,144
545,285 1,039,451
7 Creditors: amounts falling due after one year 2023 2022
£ £
Other creditors 1,045,456 328,318
8 Other information
ARTA AWARDS LIMITED is a private company limited by shares and incorporated in England. Its registered office is:
218A Brick Lane
London
E1 6SA
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