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Registered number: 04517735
Arcimboldo Productions Limited
Unaudited Financial Statements
For The Year Ended 31 December 2023
Unaudited Financial Statements
Contents
Page
Balance Sheet 1—2
Notes to the Financial Statements 3—4
Page 1
Balance Sheet
Registered number: 04517735
2023 2022
Notes £ £ £ £
FIXED ASSETS
Tangible Assets 4 78,490 78,815
78,490 78,815
CURRENT ASSETS
Debtors 5 1,539 3,749
Cash at bank and in hand 3,924 17,711
5,463 21,460
Creditors: Amounts Falling Due Within One Year 6 (27,676 ) (18,807 )
NET CURRENT ASSETS (LIABILITIES) (22,213 ) 2,653
TOTAL ASSETS LESS CURRENT LIABILITIES 56,277 81,468
PROVISIONS FOR LIABILITIES
Deferred Taxation (3,634 ) (2,963 )
NET ASSETS 52,643 78,505
CAPITAL AND RESERVES
Called up share capital 7 4 4
Profit and Loss Account 52,639 78,501
SHAREHOLDERS' FUNDS 52,643 78,505
Page 1
Page 2
For the year ending 31 December 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.
The company has taken advantage of section 444(1) of the Companies Act 2006 and opted not to deliver to the registrar a copy of the company's Profit and Loss Account.
On behalf of the board
Mr David Charap
Director
21 March 2024
The notes on pages 3 to 4 form part of these financial statements.
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Page 3
Notes to the Financial Statements
1. General Information
Arcimboldo Productions Limited is a private company, limited by shares, incorporated in England & Wales, registered number 04517735 . The registered office is 2 The Old Estate Yard High Street, East Hendred, Wantage, Oxfordshire, OX12 8JY.
2. Accounting Policies
2.1. Basis of Preparation of Financial Statements
The financial statements have been prepared under the historical cost convention and in accordance with Financial Reporting Standard 102 section 1A Small Entities "The Financial Reporting Standard applicable in the UK and Republic of Ireland" and the Companies Act 2006.
The financial statements are prepared in sterling, which is the functional currency of the company. Monetary amounts in these financial statements are rounded to the nearest £.
2.2. 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 rendering of services. Turnover is reduced for estimated customer returns, rebates and other similar allowances.
Rendering of services
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. Turnover is only recognised to the extent of recoverable expenses when the outcome of a contract cannot be estimated reliably.
2.3. Tangible Fixed Assets and Depreciation
Tangible fixed assets are measured at cost less accumulated depreciation and any accumulated impairment losses. Depreciation is provided at rates calculated to write off the cost of the fixed assets, less their estimated residual value, over their expected useful lives on the following bases:
Freehold Straight line 2%
Plant & Machinery Reducing balance 25%
2.4. Foreign Currencies
Monetary assets and liabilities in foreign currencies are translated into sterling at the rates of exchange ruling at the balance sheet date. Transactions in foreign currencies are translated into sterling at the rate ruling on the date of the transaction. Exchange differences are taken into account in arriving at the operating profit.
2.5. Taxation
Income tax expense represents the sum of the tax currently payable and deferred tax.
The tax currently payable is based on taxable profit for the year. Taxable profit differs from profit as reported in the statement of comprehensive income because of items of income or expense that are taxable or deductible in other years and items that are never taxable or deductible. The company's liability for current tax is calculated using tax rates that have been enacted or substantively enacted by the end of the reporting period.
Deferred tax is recognised on timing differences between the carrying amounts of assets and liabilities in the financial statements and the corresponding tax bases used in the computation of taxable profit. Deferred tax liabilities are generally recognised for all taxable timing differences. Deferred tax assets are generally recognised for all deductible temporary differences to the extent that it is probable that taxable profits will be available against which those deductible timing differences can be utilised. The carrying amount of deferred tax assets is reviewed at the end of each reporting period and reduced to the extent that it is no longer probable that sufficient taxable profits will be available to allow all or part of the asset to be recovered.
Deferred tax assets and liabilities are measured at the tax rates that are expected to apply in the period in which the liability is settled or the asset realised, based on tax rates (and tax laws) that have been enacted or substantively enacted by the end of the reporting period. Deferred tax liabilities are presented within provisions for liabilities and deferred tax assets within debtors. The measurement of deferred tax liabilities and assets reflect the tax consequences that would follow from the manner in which the Company expects, at the end of the reporting period, to recover or settle the carrying amount of its assets and liabilities.
Current or deferred tax for the year is recognised in profit or loss, except when they related to items that are recognised in other comprehensive income or directly in equity, in which case, the current and deferred tax is also recognised in other comprehensive income or directly in equity respectively.
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3. Average Number of Employees
Average number of employees, including directors, during the year was: 2 (2022: 2)
2 2
4. Tangible Assets
Land & Property
Freehold Plant & Machinery Total
£ £ £
Cost
As at 1 January 2023 73,219 61,473 134,692
Additions 3,083 2,689 5,772
As at 31 December 2023 76,302 64,162 140,464
Depreciation
As at 1 January 2023 9,998 45,879 55,877
Provided during the period 1,526 4,571 6,097
As at 31 December 2023 11,524 50,450 61,974
Net Book Value
As at 31 December 2023 64,778 13,712 78,490
As at 1 January 2023 63,221 15,594 78,815
5. Debtors
2023 2022
£ £
Due within one year
Trade debtors - 2,160
Prepayments and accrued income 1,539 1,589
1,539 3,749
6. Creditors: Amounts Falling Due Within One Year
2023 2022
£ £
Corporation tax 22,351 8,435
VAT 3,865 8,971
Accruals and deferred income 1,460 1,400
Directors' loan accounts - 1
27,676 18,807
7. Share Capital
2023 2022
£ £
Allotted, Called up and fully paid 4 4
Page 4