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REGISTERED NUMBER: 10931094 (England and Wales)















Unaudited Financial Statements for the Year Ended 31 August 2023

for

J G Arts Ltd

J G Arts Ltd (Registered number: 10931094)






Contents of the Financial Statements
for the Year Ended 31 August 2023




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


J G Arts Ltd

Company Information
for the Year Ended 31 August 2023







DIRECTOR: J Guilbert





REGISTERED OFFICE: c/o ABC Accounting Services
1 Willoughton Place
Wharton Close
Gainsborough
Lincolnshire
DN21 1EB





REGISTERED NUMBER: 10931094 (England and Wales)





ACCOUNTANTS: ABC Accounting Services
1 Willoughton Place
Wharton Close
Gainsborough
Lincolnshire
DN21 1EB

J G Arts Ltd (Registered number: 10931094)

Balance Sheet
31 August 2023

31.8.23 31.8.22
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 - 1,028

CURRENT ASSETS
Stocks 1,500 11,334
Debtors 5 73 5,061
Cash at bank and in hand 6,742 25,482
8,315 41,877
CREDITORS
Amounts falling due within one year 6 45,392 26,184
NET CURRENT (LIABILITIES)/ASSETS (37,077 ) 15,693
TOTAL ASSETS LESS CURRENT
LIABILITIES

(37,077

)

16,721

CREDITORS
Amounts falling due after more than one
year

7

2,605

12,624
NET (LIABILITIES)/ASSETS (39,682 ) 4,097

CAPITAL AND RESERVES
Called up share capital 100 100
Retained earnings (39,782 ) 3,997
SHAREHOLDERS' FUNDS (39,682 ) 4,097

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 August 2023.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 August 2023 in accordance with Section 476 of the Companies Act 2006.

The director acknowledges his responsibilities for:
(a)ensuring that the company keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006 and
(b)preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of each financial year and of its profit or loss for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the company.

J G Arts Ltd (Registered number: 10931094)

Balance Sheet - continued
31 August 2023


The 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.

The financial statements were approved by the director and authorised for issue on 27 November 2023 and were signed by:





J Guilbert - Director


J G Arts Ltd (Registered number: 10931094)

Notes to the Financial Statements
for the Year Ended 31 August 2023

1. STATUTORY INFORMATION

J G Arts Ltd is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.

2. ACCOUNTING POLICIES

Basis of preparing the financial statements
These financial statements have been prepared in accordance with Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" including the provisions of Section 1A "Small Entities" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.

Although the company has net liabilities at the balance sheet date, the director, who is its principal creditor has agreed to continue to support the company. Therefore, the accounts are prepared on a going concern basis.

Turnover
Turnover represents amounts involved in respect of services rendered stated net of value added tax. The company operates the margin scheme in respect of value added tax.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Computer equipment - 33% on cost

Stocks
Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.

Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Income Statement, except to the extent that it relates to items recognised in other comprehensive income or directly in equity.

Current or deferred taxation assets and liabilities are not discounted.

Current tax is recognised at the amount of tax payable using the tax rates and laws that have been enacted or substantively enacted by the balance sheet date.

Deferred tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date. Due to insignificant amounts involved no provision provided.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 2 (2022 - 2 ) .

J G Arts Ltd (Registered number: 10931094)

Notes to the Financial Statements - continued
for the Year Ended 31 August 2023

4. TANGIBLE FIXED ASSETS
Computer
equipment
£   
COST
At 1 September 2022
and 31 August 2023 4,096
DEPRECIATION
At 1 September 2022 3,068
Charge for year 1,028
At 31 August 2023 4,096
NET BOOK VALUE
At 31 August 2023 -
At 31 August 2022 1,028

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.8.23 31.8.22
£    £   
VAT 73 5,061

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.8.23 31.8.22
£    £   
Bank loans and overdrafts 10,000 10,000
Directors' current accounts 34,793 15,583
Accrued expenses 599 601
45,392 26,184

7. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
31.8.23 31.8.22
£    £   
Bank loans - 1-2 years 2,605 10,000
Bank loans - 2-5 years - 2,624
2,605 12,624

8. ULTIMATE CONTROLLING PARTY

The controlling party is J Guilbert.

At the balance sheet date the amount owed to the director by the company was £34,793 (2022 - £15,583).