2022-06-012023-05-312023-05-31false08058953ARTWISE 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ARTWISE LIMITED

Registered Number
08058953
(England and Wales)

Unaudited Financial Statements for the Year ended
31 May 2023

ARTWISE LIMITED
Company Information
for the year from 1 June 2022 to 31 May 2023

Directors

VOYSEY, Julie Ann
VOYSEY, Robert Scott

Registered Address

66 Effingham Road
Long Ditton
Surbiton
KT6 5LB

Registered Number

08058953 (England and Wales)
ARTWISE LIMITED
Balance Sheet as at
31 May 2023

Notes

2023

2022

£

£

£

£

Fixed assets
Tangible assets36,71210,647
6,71210,647
Current assets
Debtors7,5098,257
Cash at bank and on hand139,690243,443
147,199251,700
Creditors amounts falling due within one year5(23,345)(71,923)
Net current assets (liabilities)123,854179,777
Total assets less current liabilities130,566190,424
Net assets130,566190,424
Capital and reserves
Called up share capital1010
Profit and loss account130,556190,414
Shareholders' funds130,566190,424
The financial statements were approved and authorised for issue by the Board of Directors on 7 March 2024, and are signed on its behalf by:
VOYSEY, Robert Scott
Director
Registered Company No. 08058953
ARTWISE LIMITED
Notes to the Financial Statements
for the year ended 31 May 2023

1.Accounting policies
Statutory information
The company is a private company limited by shares and registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.
Statement of compliance
The financial statements have been prepared in compliance with FRS 102 Section 1A as it applies to the financial statements for the period and there were no material departures from the reporting standard.
Revenue from sale of goods
Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods have transferred to the buyer. 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.
Employee benefits
Contributions to defined contribution plans are expensed in the period to which they relate.
Foreign currency translation
Transactions in foreign currencies are initially recognised at the rate of exchange ruling at the date of the transaction. At the end of each reporting period foreign currency monetary items are translated at the closing rate of exchange. Non-monetary items that are measured at historical cost are translated at the rate ruling at the date of the transaction. All differences are charged to profit or loss.
Tangible fixed assets and depreciation
Tangible fixed assets are stated at cost or valuation less depreciation. Depreciation is provided on all tangible fixed assets as follows:

Straight line (years)
Plant and machinery4
2.Average number of employees
The two directors were the only employees of the company during the current and previous year.

20232022
Average number of employees during the year22
3.Tangible fixed assets

Plant & machinery

Total

££
Cost or valuation
At 01 June 2221,72121,721
Additions849849
At 31 May 2322,57022,570
Depreciation and impairment
At 01 June 2211,07411,074
Charge for year4,7844,784
At 31 May 2315,85815,858
Net book value
At 31 May 236,7126,712
At 31 May 2210,64710,647
4.Debtors: amounts due within one year

2023

2022

££
Trade debtors / trade receivables3,5764,325
Other debtors3,9333,932
Total7,5098,257
Short term debtors are measured at transaction price (which is usually the invoice price), less any impairment losses for bad and doubtful debts. Loans and other financial assets are initially recognised at transaction price including any transaction costs and subsequently measured at amortised cost determined using the effective interest method, less any impairment losses for bad and doubtful debts.
5.Creditors: amounts due within one year

2023

2022

££
Taxation and social security10,15327,946
Other creditors5,80236,841
Accrued liabilities and deferred income7,3907,136
Total23,34571,923
Short term creditors are measured at transaction price (which is usually the invoice price). Loans and other financial liabilities are initially recognised at transaction price net of any transaction costs and subsequently measured at amortised cost determined using the effective interest method.