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Registered Number: 09111832
England and Wales

 

 

 

EVERYTHING ART LIMITED


Abridged Accounts
 


Period of accounts

Start date: 01 August 2022

End date: 31 July 2023
Chartered Accountants' report to the board of directors on the preparation of the unaudited statutory accounts of Everything Art Limited for the year ended 31 July 2023
In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the accounts of Everything Art Limited for the year ended 31 July 2023 which comprise of the Profit and Loss Account, the Statement of Comprehensive Income, the Balance Sheet, the Statement of Changes in Equity and the related notes from the company’s accounting records and from information and explanations you have given us.
As a practising member firm of the Institute of Chartered Accountants in England and Wales, we are subject to its ethical and other professional requirements which are detailed at www.icaew.com/en/members/regulations-standards-and-guidance
This report is made solely to the Board of Directors of Everything Art Limited , as a body, in accordance with the terms of our engagement letter dated 28 March 2024. Our work has been undertaken solely to prepare for your approval the accounts of Everything Art Limited and state those matters that we have agreed to state to the Board of Directors of Everything Art Limited , as a body, in this report in accordance with ICAEW Technical Release 07/16 AAF. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than Everything Art Limited and its Board of Directors as a body for our work or for this report.
It is your duty to ensure that Everything Art Limited has kept adequate accounting records and to prepare statutory accounts that give a true and fair view of the assets, liabilities, financial position and profit of Everything Art Limited . You consider that Everything Art Limited is exempt from the statutory audit requirement for the year.
We have not been instructed to carry out an audit or a review of the accounts of Everything Art Limited . For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory accounts
31 July 2023



....................................................
SRB Accountancy Limited
The Lower Stables
Main Street, Sudbury
Ashbourne
Derbyshire
DE6 5HT
28 March 2024
1
 
 
Notes
 
2023
£
  2022
£
Fixed assets      
Tangible fixed assets 3 290,644    274,545 
290,644    274,545 
Current assets      
Stocks 15,000   
Debtors: amounts falling due within one year 1,511    15,993 
Cash at bank and in hand 83,724    129,334 
100,235    145,327 
Creditors: amount falling due within one year (70,083)   (60,039)
Net current assets 30,152    85,288 
 
Total assets less current liabilities 320,796    359,833 
Creditors: amount falling due after more than one year (124,465)   (161,545)
Net assets 196,331    198,288 
 

Capital and reserves
     
Called up share capital 4 2    2 
Profit and loss account 196,329    198,286 
Shareholder's funds 196,331    198,288 
 


For the year ended 31 July 2023 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Directors' responsibilities:
  1. The members have not required the company to obtain an audit of its accounts for the year in question in accordance with section 476.
  2. 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.
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 to the Registrar of Companies.

The members have agreed to the preparation of abridged accounts for this accounting period in accordance with section 444(2A).
The financial statements were approved by the board of directors on 28 March 2024 and were signed on its behalf by:


-------------------------------
K Avery
Director
2
General Information
Everything Art Limited is a private company, limited by shares, registered in England and Wales, registration number 09111832, registration address The Lower Stables, Main Street, Sudbury, Ashbourne, Derbyshire, DE6 5HT.

The presentation currency is £ sterling.
1.

Accounting policies

Significant accounting policies
Statement of compliance
These financial statements have been prepared in compliance with FRS 102 – The Financial Reporting Standard applicable in the UK and Republic of Ireland and the Companies Act 2006.
Basis of preparation
The financial statements have been prepared under the historical cost convention as modified by the revaluation of land and buildings and certain financial instruments measured at fair value in accordance with the accounting policies.
The financial statements are prepared in sterling which is the functional currency of the company.
Turnover
Turnover comprises the invoiced value of goods and services supplied by the company, net of Value Added Tax and trade discounts.
Finance lease and hire purchase charges
The finance element of the rental payment is charged to the income statement on a straight line basis.
Tangible fixed assets
Tangible fixed assets, other than freehold land, are stated at cost or valuation less depreciation and any provision for impairment. Depreciation is provided at rates calculated to write off the cost or valuation of fixed assets, less their estimated residual value, over their expected useful lives on the following basis: 
Computer Equipment 25 Reducing Balance
Assets on finance lease and hire purchase
Assets held under finance lease or hire purchase contracts i.e. those contracts where substantially all the risks and rewards of ownership have passed to the company, are included in the appropriate category of tangible fixed assets and depreciated over the shorter of the lease term and their estimated expected useful lives.
Future obligations under such contracts are included in creditors net of the finance charge allocated to future periods.
Stocks
Stocks are valued at the lower of cost and net realisable value after making due allowance for obsolete and slow moving items. Cost includes all direct costs and an appropriate proportion of fixed and variable overheads.
2.

Average number of employees

Average number of employees during the year was 3 (2022 : 2).
3.

Tangible fixed assets

Cost or valuation Land and Buildings   Motor Vehicles   Computer Equipment   Total
  £   £   £   £
At 01 August 2022 213,450    97,327    53,470    364,247 
Additions   69,088    7,363    76,451 
Disposals   (97,327)     (97,327)
At 31 July 2023 213,450    69,088    60,833    343,371 
Depreciation
At 01 August 2022   62,707    26,995    89,702 
Charge for year   17,272    8,460    25,732 
On disposals   (62,707)     (62,707)
At 31 July 2023   17,272    35,455    52,727 
Net book values
Closing balance as at 31 July 2023 213,450    51,816    25,378    290,644 
Opening balance as at 01 August 2022 213,450    34,620    26,475    274,545 

The net book value of Motor Vehicles includes £ 51,816 (2022 £23,744) in respect of assets leased under finance leases or hire purchase contracts.

4.

Share Capital

Authorised
2 Class A shares of £1.00 each
Allotted, called up and fully paid
2023
£
  2022
£
2 Class A shares of £1.00 each  
 

3