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REGISTERED NUMBER: 01685507 (England and Wales)













Unaudited Financial Statements

for the Year Ended 31 July 2023

for

The Art and Design Partnership Limited

The Art and Design Partnership Limited (Registered number: 01685507)






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




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


The Art and Design Partnership Limited

Company Information
for the Year Ended 31 July 2023







DIRECTORS: P Slade
M Seward
Ms N Duggan





SECRETARY: Ms N Duggan





REGISTERED OFFICE: 4th Floor
167 Fleet Street
London
EC4A 2EA





REGISTERED NUMBER: 01685507 (England and Wales)





ACCOUNTANTS: Elliotts Shah
Chartered Accountants
4th Floor
167 Fleet Street
London
EC4A 2EA

The Art and Design Partnership Limited (Registered number: 01685507)

Balance Sheet
31 July 2023

2023 2022
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 1 1

CURRENT ASSETS
Stocks 500 500
Debtors 5 - 618
Cash at bank 1,683 8,223
2,183 9,341
CREDITORS
Amounts falling due within one year 6 15,782 16,211
NET CURRENT LIABILITIES (13,599 ) (6,870 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

(13,598

)

(6,869

)

CREDITORS
Amounts falling due after more than one
year

7

17,233

26,633
NET LIABILITIES (30,831 ) (33,502 )

CAPITAL AND RESERVES
Called up share capital 1,000 1,000
Share premium 24,975 24,975
Capital redemption reserve 25 25
Retained earnings (56,831 ) (59,502 )
SHAREHOLDERS' FUNDS (30,831 ) (33,502 )

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

The members have not required the company to obtain an audit of its financial statements for the year ended 31 July 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.

The Art and Design Partnership Limited (Registered number: 01685507)

Balance Sheet - continued
31 July 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 19 February 2024 and were signed on its behalf by:




P Slade - Director



Ms N Duggan - Director


The Art and Design Partnership Limited (Registered number: 01685507)

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

1. STATUTORY INFORMATION

The Art and Design Partnership Limited 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 represents net invoiced sales value of goods and services, excluding 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 - 25% on cost

Stocks
Work in progress is valued at the lower of cost and net realisable value.

Cost is calculated using the first-in, first-out method and includes all purchase, transport, and handling costs in bringing stocks to their present location and condition.

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.

Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from those in which they are recognised in financial statements. Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the year end and that are expected to apply to the reversal of the timing difference.

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.

Going concern
The balance sheet at 31 July 2023 indicates a net deficit of £30,831 in shareholders funds. The company received a government sponsored bounce back loan to assist the company to continue to trade as a going concern. Accordingly the financial statements have been prepared on a going concern basis

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 3 (2022 - 3 ) .

The Art and Design Partnership Limited (Registered number: 01685507)

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

4. TANGIBLE FIXED ASSETS
Computer
equipment
£   
COST
At 1 August 2022
and 31 July 2023 18,114
DEPRECIATION
At 1 August 2022
and 31 July 2023 18,113
NET BOOK VALUE
At 31 July 2023 1
At 31 July 2022 1

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Trade debtors - 618

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Bank loans and overdrafts (see note 8) 9,400 9,400
Trade creditors 873 2,840
Social security and other taxes 3,473 2,971
Accrued expenses 2,036 1,000
15,782 16,211

7. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
2023 2022
£    £   
Bank loans (see note 8) 17,233 26,633

8. LOANS

An analysis of the maturity of loans is given below:

2023 2022
£    £   
Amounts falling due within one year or on demand:
Bank loans 9,400 9,400

Amounts falling due between two and five years:
Bank loans - 2-5 years 17,233 26,633

The bank loan represents government backed bounce back loan and is repayable by monthly instalments commencing June 2021.