Registered number
10984183
Arthouse Acoustics Ltd
Filleted Accounts
30 September 2023
Arthouse Acoustics Ltd
Registered number: 10984183
Balance Sheet
as at 30 September 2023
Notes 2023 2022
£ £
Fixed assets
Tangible assets 3 2,419 4,485
Current assets
Debtors 4 5,485 10,183
Cash at bank and in hand 10,864 10,196
16,349 20,379
Creditors: amounts falling due within one year 5 (13,867) (13,136)
Net current assets 2,482 7,243
Total assets less current liabilities 4,901 11,728
Creditors: amounts falling due after more than one year 6 (6,495) (9,083)
Net (liabilities)/assets (1,594) 2,645
Capital and reserves
Called up share capital 3 3
Profit and loss account (1,597) 2,642
Shareholders' funds (1,594) 2,645
The directors are satisfied that the company is entitled to exemption from the requirement to obtain an audit under section 477 of the Companies Act 2006.
The members have not required the company to obtain an audit in accordance with section 476 of the Act.
The directors acknowledge their 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.
Mr Daniel Bradley
Director
Approved by the board on 6 November 2023
Arthouse Acoustics Ltd
Notes to the Accounts
for the year ended 30 September 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.
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:
Equipment 33.3% Straight line basis
Debtors
Short term debtors are measured at transaction price (which is usually the invoice price), less any impairment losses for bad and doubtful debts. Loans and other financial assets are initially recognised at transaction price including any transaction costs and subsequently measured at amortised cost determined using the effective interest method, less any impairment losses for bad and doubtful debts.
Creditors
Short term creditors are measured at transaction price (which is usually the invoice price). Loans and other financial liabilities are initially recognised at transaction price net of any transaction costs and subsequently measured at amortised cost determined using the effective interest method.
Taxation
A current tax liability is recognised for the tax payable on the taxable profit of the current and past periods. A current tax asset is recognised in respect of a tax loss that can be carried back to recover tax paid in a previous period. Deferred tax is recognised in respect of all timing differences between the recognition of income and expenses in the financial statements and their inclusion in tax assessments. Unrelieved tax losses and other deferred tax assets are recognised only to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date and that are expected to apply to the reversal of the timing difference, except for revalued land and investment property where the tax rate that applies to the sale of the asset is used. Current and deferred tax assets and liabilities are not discounted.
Provisions
Provisions (ie liabilities of uncertain timing or amount) are recognised when there is an obligation at the reporting date as a result of a past event, it is probable that economic benefit will be transferred to settle the obligation and the amount of the obligation can be estimated reliably.
Foreign currency translation
Transactions in foreign currencies are initially recognised at the rate of exchange ruling at the date of the transaction. At the end of each reporting period foreign currency monetary items are translated at the closing rate of exchange. Non-monetary items that are measured at historical cost are translated at the rate ruling at the date of the transaction. All differences are charged to profit or loss.
2 Employees 2023 2022
Number Number
Average number of persons employed by the company 3 3
3 Tangible fixed assets
Plant and machinery etc
£
Cost
At 1 October 2022 14,591
Additions 1,614
At 30 September 2023 16,205
Depreciation
At 1 October 2022 10,106
Charge for the year 3,680
At 30 September 2023 13,786
Net book value
At 30 September 2023 2,419
At 30 September 2022 4,485
4 Debtors 2023 2022
£ £
Trade debtors 4,816 10,183
Other debtors 669 -
5,485 10,183
5 Creditors: amounts falling due within one year 2023 2022
£ £
Bank loans and overdrafts 2,851 2,851
Taxation and social security costs 5,366 5,248
Other creditors 5,650 5,037
13,867 13,136
6 Creditors: amounts falling due after one year 2023 2022
£ £
Bank loans 6,495 9,083
7 Controlling party
The Company is owned and controlled by it's Directors.
8 Other information
Arthouse Acoustics Ltd is a private company limited by shares and incorporated in England. Its registered office is:
Unit 7, Hove Enterprise Centre
Basin Road North,
Portslade
East Sussex
BN41 1UY
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