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REGISTERED NUMBER: 02893361 (England and Wales)















Financial Statements for the Year Ended 31st March 2023

for

Art Zone Co-operative Ltd

Art Zone Co-operative Ltd (Registered number: 02893361)

Contents of the Financial Statements
for the Year Ended 31st March 2023










Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


Art Zone Co-operative Ltd

Company Information
for the Year Ended 31st March 2023







DIRECTORS: J Boswell-Jones
I Saray





REGISTERED OFFICE: 10 BackChurch Lane
LONDON
E1 1LX





REGISTERED NUMBER: 02893361 (England and Wales)





ACCOUNTANTS: Armstrong & Co
Chartered Accountants
4a Printing House Yard
Hackney Road
London
E2 7PR

Art Zone Co-operative Ltd (Registered number: 02893361)

Balance Sheet
31st March 2023

2023 2022
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 185 247

CURRENT ASSETS
Debtors 5 325 345
Cash at bank 264 1,577
589 1,922
CREDITORS
Amounts falling due within one year 6 39,081 38,113
NET CURRENT LIABILITIES (38,492 ) (36,191 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

(38,307

)

(35,944

)

RESERVES
Retained earnings (38,307 ) (35,944 )
(38,307 ) (35,944 )

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

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

The directors acknowledge their 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.

Art Zone Co-operative Ltd (Registered number: 02893361)

Balance Sheet - continued
31st March 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 Board of Directors and authorised for issue on 12th January 2024 and were signed on its behalf by:




I Saray - Director



J Boswell-Jones - Director


Art Zone Co-operative Ltd (Registered number: 02893361)

Notes to the Financial Statements
for the Year Ended 31st March 2023


1. STATUTORY INFORMATION

Art Zone Co-operative 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.

Turnover
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Plant and machinery - 25% on cost
Computer equipment - 25% on reducing balance

3. EMPLOYEES AND DIRECTORS

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

4. TANGIBLE FIXED ASSETS
Plant and Computer
machinery equipment Totals
£    £    £   
COST
At 1st April 2022
and 31st March 2023 3,567 18,483 22,050
DEPRECIATION
At 1st April 2022 3,567 18,236 21,803
Charge for year - 62 62
At 31st March 2023 3,567 18,298 21,865
NET BOOK VALUE
At 31st March 2023 - 185 185
At 31st March 2022 - 247 247

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
VAT 325 345

Art Zone Co-operative Ltd (Registered number: 02893361)

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


6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Bank loans and overdrafts 68 -
Director's current account 38,313 37,313
Accrued expenses 700 800
39,081 38,113

7. GOING CONCERN

The company has a deficiency in its balance sheet. However, this is primarily caused by the directors' current account balances. The directors have indicated their willingness to continue to support the company for the foreseeable future and not to demand the repayment of their loan accounts in priority to other creditors. The accounts are therefore prepared on a going concern basis.