Company Registration No. 11197812 (England and Wales)
Liquid Art Group Limited
Unaudited accounts
for the year ended 28 February 2023
Liquid Art Group Limited
Company Information
for the year ended 28 February 2023
Directors
James Fennell
Oliver Calveley
Company Number
11197812 (England and Wales)
Registered Office
50 Micklegate
Selby
YO8 4EQ
England
Liquid Art Group Limited
Statement of financial position
as at 28 February 2023
Intangible assets
-
(3,343)
Tangible assets
70,275
140,337
Cash at bank and in hand
21,573
24,489
Creditors: amounts falling due within one year
(55,304)
(85,894)
Net current assets
41,195
19,057
Total assets less current liabilities
111,470
156,051
Creditors: amounts falling due after more than one year
(155,147)
(155,902)
Net (liabilities)/assets
(43,677)
149
Called up share capital
16
2
Capital redemption reserve
(99,996)
-
Profit and loss account
56,303
147
Shareholders' funds
(43,677)
149
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. The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
These accounts have been prepared and delivered 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 profit and loss account has not been delivered to the Registrar of Companies.
The financial statements were approved by the Board of Directors and authorised for issue on 30 October 2023 and were signed on its behalf by
James Fennell
Director
Company Registration No. 11197812
Liquid Art Group Limited
Notes to the Accounts
for the year ended 28 February 2023
Liquid Art Group Limited is a private company, limited by shares, registered in England and Wales, registration number 11197812. The registered office is 50 Micklegate, Selby, YO8 4EQ, England.
2
Compliance with accounting standards
The accounts have been prepared in accordance with the provisions of FRS 102 Section 1A Small Entities. There were no material departures from that standard.
The principal accounting policies adopted in the preparation of the financial statements are set out below and have remained unchanged from the previous year, and also have been consistently applied within the same accounts.
The accounts have been prepared under the historical cost convention as modified by the revaluation of certain fixed assets.
The accounts are presented in £ sterling.
Tangible fixed assets and depreciation
Tangible assets are included at cost less depreciation and impairment. Depreciation has been provided at the following rates in order to write off the assets over their estimated useful lives:
Motor vehicles
25% reducing balance
Computer equipment
25% reducing balance
Intangible fixed assets (including purchased goodwill and patents) are included at cost less accumulated amortisation.
4
Intangible fixed assets
Other
At 28 February 2023
15,334
Charge for the year
(3,343)
At 28 February 2023
15,334
At 28 February 2022
(3,343)
Liquid Art Group Limited
Notes to the Accounts
for the year ended 28 February 2023
5
Tangible fixed assets
Land & buildings
Motor vehicles
Computer equipment
Total
Cost or valuation
At cost
At cost
At cost
At 1 March 2022
278,000
56,216
3,896
338,112
Disposals
(133,000)
(10,500)
-
(143,500)
At 28 February 2023
145,000
45,716
3,896
194,612
At 1 March 2022
169,222
24,554
3,999
197,775
Charge for the year
16,111
5,291
-
21,402
On disposals
(88,667)
(6,070)
(103)
(94,840)
At 28 February 2023
96,666
23,775
3,896
124,337
At 28 February 2023
48,334
21,941
-
70,275
At 28 February 2022
108,778
31,662
(103)
140,337
Amounts falling due within one year
Other debtors
74,926
73,302
Amounts falling due after more than one year
7
Creditors: amounts falling due within one year
2023
2022
Trade creditors
5,610
22,745
Taxes and social security
38,243
32,251
8
Creditors: amounts falling due after more than one year
2023
2022
Bank loans
155,147
155,902
9
Average number of employees
During the year the average number of employees was 4 (2022: 2).