1 March 2022 v2023.24.1 limited_company_frs_102_section_1a_v1_1_0 companies_houseSoftwarefalsetruetruetrueNo description of principal activity0truexbrli:purexbrli:sharesiso4217:GBP118182212022-03-012023-02-28118182212023-02-28118182212022-02-2811818221core:WithinOneYear2023-02-2811818221core:WithinOneYear2022-02-2811818221core:AfterOneYear2023-02-2811818221core:AfterOneYear2022-02-2811818221core:ShareCapital2023-02-2811818221core:ShareCapital2022-02-2811818221core:RetainedEarningsAccumulatedLosses2023-02-2811818221core:RetainedEarningsAccumulatedLosses2022-02-2811818221bus:Director12022-03-012023-02-2811818221bus:Director22022-03-012023-02-2811818221bus:RegisteredOffice2022-03-012023-02-2811818221core:PlantMachinery2022-03-012023-02-2811818221core:MotorVehicles2022-03-012023-02-2811818221core:PlantMachinery2022-03-0111818221core:PlantMachinery2023-02-2811818221core:PlantMachinery2022-02-281181822112022-03-012023-02-28118182212021-03-012022-02-2811818221countries:EnglandWales2022-03-012023-02-2811818221bus:AuditExemptWithAccountantsReport2022-03-012023-02-2811818221bus:PrivateLimitedCompanyLtd2022-03-012023-02-2811818221bus:SmallEntities2022-03-012023-02-2811818221bus:FullAccounts2022-03-012023-02-28
Company registration number:
11818221
Artisan Contracts Limited
Unaudited Filleted Financial Statements for the year ended
28 February 2023
Artisan Contracts Limited
Statement of Financial Position
28 February 2023
20232022
Note££
Fixed assets    
Tangible assets 5
74,266
 
5,466
 
Current assets    
Debtors 6
205,294
 
59,343
 
Cash at bank and in hand
206,342
 
17,377
 
411,636
 
76,720
 
Creditors: amounts falling due within one year 7
(277,462
)
(63,181
)
Net current assets
134,174
 
13,539
 
Total assets less current liabilities 208,440   19,005  
Creditors: amounts falling due after more than one year 8
(30,023
)
(36,191
)
Net assets/(liabilities)
178,417
 
(17,186
)
Capital and reserves    
Called up share capital
100
 
100
 
Profit and loss account
178,317
 
(17,286
)
Shareholders funds/(deficit)
178,417
 
(17,186
)
For the year ending
28 February 2023
, 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
financial statements
have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies’ regime.
In accordance with Section 444 of the Companies Act 2006, the income statement has not been delivered.
These
financial statements
were approved by the board of directors and authorised for issue on
24 October 2023
, and are signed on behalf of the board by:
R Fairhurst
S Fairhurst
DirectorDirector
Company registration number:
11818221
Artisan Contracts Limited
Notes to the Financial Statements
Year ended
28 February 2023

1 General information

The company is a private company limited by shares and is registered in England and Wales. The address of the registered office is
12 Gregory Street
,
Northampton
,
NN1 1TA
, England.

2 Statement of compliance

These
financial statements
have been prepared in compliance with FRS 102 Section 1A, 'The Financial Reporting Standard applicable to the UK and Republic of Ireland'.

3 Accounting policies

Basis of preparation

The
financial statements
have been prepared on the historical cost basis, as modified by the revaluation of certain assets.
The
financial statements
are prepared in sterling, which is the functional currency of the company.

Going concern

The financial statements have been prepared on a going concern basis.
The Directors have carefully reviewed the future prospects of the company and it’s future cash flows. Having assessed this, the Directors have a reasonable expectation that the company has adequate resources to continue in operational existence for the foreseeable future being at least the next 12 months from the signing of these financial statements.
For this reason, the Directors continue to adopt the going concern basis for the preparation of the Financial Statements.

Turnover

Turnover is measured at the fair value of the consideration received or receivable for goods supplied, net of discounts and Value Added Tax.
Revenue from the sale of goods is recognised when the significant risks and rewards of ownership have transferred to the buyer, usually on despatch of the goods; the amount of revenue can be measured reliably; it is probable that the associated economic benefits will flow to the entity; and the costs incurred or to be incurred in respect of the transactions can be measured reliably.

Current tax

Current tax is recognised on taxable profit for the current and past periods. Current tax is measured at the amounts of tax expected to pay or recover using the tax rates and laws that have been enacted or substantively enacted at the reporting date.

Tangible assets

Tangible assets are initially measured at cost, and are subsequently measured at cost less any accumulated depreciation and accumulated impairment losses or at a revalued amount.
Any tangible assets carried at a revalued amount are recorded at the fair value at the date of revaluation less any subsequent accumulated depreciation and subsequent accumulated impairment losses.
An increase in the carrying amount of an asset as a result of a revaluation is recognised in other comprehensive income and accumulated in capital and reserves. However, the increase is recognised in profit or loss to the extent that it reverses a revaluation decrease of the same asset previously recognised in profit or loss. A decrease in the carrying amount of an asset as a result of revaluation is recognised in other comprehensive income to the extent of any previously recognised revaluation increase accumulated in capital and reserves. If a revaluation decrease exceeds the accumulated revaluation gains accumulated in capital and reserves in respect of that asset, the excess is recognised in profit or loss.
Depreciation is calculated so as to write off the cost of an asset, less its estimated residual value, over the useful economic life of that asset as follows:
Plant and machinery
20% reducing balance
Motor vehicles
25% reducing line

Impairment

A review for indicators of impairment is carried out at each reporting date, with the recoverable amount being estimated where such indicators exist. Where the carrying value exceeds the recoverable amount, the asset is impaired accordingly. Prior impairments are also reviewed for possible reversal at each reporting date.

Financial instruments

A financial asset or a financial liability is recognised only when the entity becomes a party to the contractual provisions of the instrument.
Basic financial instruments are initially recognised at the transaction price and are subsequently measured as follows: Debt instruments are subsequently measured at amortised cost and commitments to receive a loan and to make a loan to another entity are subsequently measured at amortised cost. Where investments in non-convertible preference shares and non-puttable ordinary shares or preference shares are publicly traded or their fair value can otherwise be measured reliably, the investment is subsequently measured at fair value with changes in fair value recognised in profit or loss. All other such investments are subsequently measured at cost less impairment.
All other financial instruments, including derivatives, are initially recognised at fair value, which is normally the transaction price and are subsequently measured at fair value, with any changes recognised in profit or loss.
Financial assets that are measured at cost or amortised cost are reviewed for objective evidence of impairment at the end of each reporting date. If there is objective evidence of impairment, an impairment loss is recognised in profit or loss immediately.
All equity instruments regardless of significance, and other financial assets that are individually significant, are assessed individually for impairment. Other financial assets or either assessed individually or grouped on the basis of similar credit risk characteristics.
Any reversals of impairment are recognised in profit or loss immediately, to the extent that the reversal does not result in a carrying amount of the financial asset that exceeds what the carrying amount would have been had the impairment not previously been recognised.

4 Average number of employees

The average number of persons employed by the company during the year was
1
(2022: nil).

5 Tangible assets

Plant and machinery etc.
£
Cost  
At
1 March 2022
8,415
 
Additions
79,988
 
Disposals
(7,125
)
At
28 February 2023
81,278
 
Depreciation  
At
1 March 2022
2,949
 
Charge
6,618
 
Disposals
(2,555
)
At
28 February 2023
7,012
 
Carrying amount  
At
28 February 2023
74,266
 
At 28 February 2022
5,466
 

6 Debtors

20232022
££
Trade debtors
203,880
 
38,177
 
Other debtors
1,414
 
21,166
 
205,294
 
59,343
 

7 Creditors: amounts falling due within one year

20232022
££
Bank loans and overdrafts
6,169
 
6,232
 
Trade creditors
58,689
 
4,564
 
Taxation and social security
180,535
 
10,382
 
Other creditors
32,069
 
42,003
 
277,462
 
63,181
 

8 Creditors: amounts falling due after more than one year

20232022
££
Bank loans and overdrafts
30,023
 
36,191