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Registration number: 14735617

Artmatter Limited

trading as Artmatter

Annual Report and Unaudited Financial Statements

for the Period from 16 March 2024 to 31 March 2024

 

Artmatter Limited

trading as Artmatter

Contents

Company Information

1

Balance Sheet

2 to 3

Notes to the Unaudited Financial Statements

4 to 6

 

Artmatter Limited

trading as Artmatter

Company Information

Director

Elsa Tierney

Company secretary

Mr Daniel Wescott

Registered office

Stratford Workshops Unit 117
Burford Road
London
E15 2SP

Accountants

Simon Kingsley

 

Artmatter Limited

trading as Artmatter

(Registration number: 14735617)
Balance Sheet as at 31 March 2024

Note

2024
£

2024
£

Current assets

 

Stocks

4

7,900

7,900

Debtors

5

4,474

4,474

Cash at bank and in hand

 

12,888

12,888

 

25,262

25,262

Creditors: Amounts falling due within one year

6

(8,261)

(8,261)

Net assets

 

17,001

17,001

Capital and reserves

 

Called up share capital

7

1

1

Retained earnings

17,000

17,000

Shareholders' funds

 

17,001

17,001

For the financial period ending 31 March 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Director's responsibilities:

The members have not required the company to obtain an audit of its accounts for the period in question in accordance with section 476; and

The director acknowledges their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

These financial statements have been prepared in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006.

These financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime and the option not to file the Profit and Loss Account has been taken.

Approved and authorised by the director on 13 August 2024
 

 

Artmatter Limited

trading as Artmatter

(Registration number: 14735617)
Balance Sheet as at 31 March 2024

.........................................
Mr Daniel Wescott
Company secretary

.........................................
Elsa Tierney
Director

 

Artmatter Limited

trading as Artmatter

Notes to the Unaudited Financial Statements for the Period from 16 March 2024 to 31 March 2024

1

General information

The company is a private company limited by share capital, incorporated in England & Wales.

The address of its registered office is:
Stratford Workshops Unit 117
Burford Road
London
E15 2SP
England

These financial statements were authorised for issue by the director on 13 August 2024.

2

Accounting policies

Summary of significant accounting policies and key accounting estimates

The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.

Statement of compliance

These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A smaller entities - 'The Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland' and the Companies Act 2006 (as applicable to companies subject to the small companies' regime).

Basis of preparation

These financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.

Revenue recognition

Turnover comprises the fair value of the consideration received or receivable for the sale of goods and provision of services in the ordinary course of the company’s activities. Turnover is shown net of sales/value added tax, returns, rebates and discounts.

The company recognises revenue when:
The amount of revenue can be reliably measured;
it is probable that future economic benefits will flow to the entity;
and specific criteria have been met for each of the company's activities.

Tax

The tax expense for the period comprises current tax. Tax is recognised in profit or loss, except that a change attributable to an item of income or expense recognised as other comprehensive income is also recognised directly in other comprehensive income.

 

Artmatter Limited

trading as Artmatter

Notes to the Unaudited Financial Statements for the Period from 16 March 2024 to 31 March 2024

The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the reporting date in the countries where the company operates and generates taxable income.

Cash and cash equivalents

Cash and cash equivalents comprise cash on hand and call deposits, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value.

Trade debtors

Trade debtors are amounts due from customers for merchandise sold or services performed in the ordinary course of business.

Trade debtors are recognised initially at the transaction price. They are subsequently measured at amortised cost using the effective interest method, less provision for impairment. A provision for the impairment of trade debtors is established when there is objective evidence that the company will not be able to collect all amounts due according to the original terms of the receivables.

Stocks

Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell. Cost is determined using the first-in, first-out (FIFO) method.

The cost of finished goods and work in progress comprises direct materials and, where applicable, direct labour costs and those overheads that have been incurred in bringing the inventories to their present location and condition. At each reporting date, stocks are assessed for impairment. If stocks are impaired, the carrying amount is reduced to its selling price less costs to complete and sell; the impairment loss is recognised immediately in profit or loss.

Trade creditors

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Accounts payable are classified as current liabilities if the company does not have an unconditional right, at the end of the reporting period, to defer settlement of the creditor for at least twelve months after the reporting date. If there is an unconditional right to defer settlement for at least twelve months after the reporting date, they are presented as non-current liabilities.

Trade creditors are recognised initially at the transaction price and subsequently measured at amortised cost using the effective interest method.

Share capital

Ordinary shares are classified as equity. Equity instruments are measured at the fair value of the cash or other resources received or receivable, net of the direct costs of issuing the equity instruments. If payment is deferred and the time value of money is material, the initial measurement is on a present value basis.

3

Staff numbers

The average number of persons employed by the company (including the director) during the period, was 0 (2024 - 0).

 

Artmatter Limited

trading as Artmatter

Notes to the Unaudited Financial Statements for the Period from 16 March 2024 to 31 March 2024

4

Stocks

2024
£

2024
£

Other inventories

7,900

7,900

5

Debtors

Current

2024
£

2024
£

Other debtors

4,474

4,474

6

Creditors

Creditors: amounts falling due within one year

2024
£

2024
£

Due within one year

Trade creditors

3,999

3,999

Taxation and social security

3,988

3,988

Other creditors

274

274

8,261

8,261

7

Share capital