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REGISTERED NUMBER: 04255948 (England and Wales)









UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 DECEMBER 2023

FOR

ART DIVISION LIMITED

ART DIVISION LIMITED (REGISTERED NUMBER: 04255948)

CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023










Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 3


ART DIVISION LIMITED

COMPANY INFORMATION
FOR THE YEAR ENDED 31 DECEMBER 2023







DIRECTOR: N Berova





REGISTERED OFFICE: 4th Floor Tuition House
27-37 St George's Road
Wimbledon
London
SW19 4EU





REGISTERED NUMBER: 04255948 (England and Wales)





ACCOUNTANTS: Hartley Fowler LLP
Chartered Accountants
4th Floor Tuition House
27-37 St George's Road
Wimbledon
London
SW19 4EU

ART DIVISION LIMITED (REGISTERED NUMBER: 04255948)

BALANCE SHEET
31 DECEMBER 2023

2023 2022
Notes £    £    £    £   
FIXED ASSETS
Intangible assets 4 10,864 8,333
Tangible assets 5 4,742 5,131
15,606 13,464

CURRENT ASSETS
Debtors 6 537,524 306,825
Cash at bank 300,989 298,776
838,513 605,601
CREDITORS
Amounts falling due within one year 7 181,703 93,954
NET CURRENT ASSETS 656,810 511,647
TOTAL ASSETS LESS CURRENT
LIABILITIES

672,416

525,111

CAPITAL AND RESERVES
Called up share capital 98 98
Capital redemption reserve 2 2
Fair value reserve 8 (9,180 ) (11,711 )
Retained earnings 681,496 536,722
SHAREHOLDERS' FUNDS 672,416 525,111

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

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

The director acknowledges her 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 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 director and authorised for issue on 10 September 2024 and were signed by:





N Berova - Director


ART DIVISION LIMITED (REGISTERED NUMBER: 04255948)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023


1. STATUTORY INFORMATION

Art Division 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.

The presentation currency of the financial statements is the Pound Sterling (£).


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 as modified by the revaluation of certain assets.

Turnover
Turnover represents net invoiced sales of services, excluding value added tax. Where hosting or SEO services are provided the income is recognised over the term of the agreement on a pro rata basis.

Intangible assets - digital currency
Intangible assets are initially measured at cost. After initial recognition, intangible assets are measured at fair value where there is an active market applicable. Alternatively they are measured at cost less any accumulated amortisation and any accumulated impairment losses.

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 reducing balance
Fixtures and fittings - 25% on reducing balance
Computer equipment - 25% on reducing balance

Financial instruments
Cash at bank is measured at transaction price.

Debtors and creditors with no stated interest rate and receivables or payables within one year are recorded at transaction price. Any losses arising from impairment are recognised in the profit and loss account in other
administrative expenses.

Impairments
Assets not measured at fair value are reviewed for any indication that the asset may be impaired at each balance sheet date. If such indication exists, the recoverable amount of the asset, or the asset's cash generating unit, is estimated and compared to the carrying amount. Where the carrying amount exceeds its recoverable amount, an impairment loss is recognised in profit or loss unless the asset is carried at a revalued amount where the impairment loss is a revaluation decrease.

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.


ART DIVISION LIMITED (REGISTERED NUMBER: 04255948)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 DECEMBER 2023


2. ACCOUNTING POLICIES - continued
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.

Pension costs and other post-retirement benefits
The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 5 (2022 - 5 ) .

4. INTANGIBLE FIXED ASSETS
Other
intangible
assets
£   
COST OR VALUATION
At 1 January 2023 8,333
Revaluations 2,531
At 31 December 2023 10,864
NET BOOK VALUE
At 31 December 2023 10,864
At 31 December 2022 8,333

Cost or valuation at 31 December 2023 is represented by:

Other
intangible
assets
£   
Valuation in 2023 (9,180 )
Cost 20,044
10,864

ART DIVISION LIMITED (REGISTERED NUMBER: 04255948)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 DECEMBER 2023


5. TANGIBLE FIXED ASSETS
Fixtures
Plant and and Computer
machinery fittings equipment Totals
£    £    £    £   
COST
At 1 January 2023 1,771 7,360 30,350 39,481
Additions - - 1,191 1,191
At 31 December 2023 1,771 7,360 31,541 40,672
DEPRECIATION
At 1 January 2023 1,749 6,556 26,045 34,350
Charge for year 5 201 1,374 1,580
At 31 December 2023 1,754 6,757 27,419 35,930
NET BOOK VALUE
At 31 December 2023 17 603 4,122 4,742
At 31 December 2022 22 804 4,305 5,131

6. DEBTORS
2023 2022
£    £   
Amounts falling due within one year:
Trade debtors 129,764 65,594
Other debtors 150,000 100,000
Directors' current accounts 201,350 106,608
Prepayments and accrued income 3,608 42
484,722 272,244

Amounts falling due after more than one year:
Tax 52,802 34,581

Aggregate amounts 537,524 306,825

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Trade creditors 10,800 -
Tax 25,082 6,949
Social security and other taxes 7,430 5,660
VAT 42,217 28,553
Other creditors 943 1,862
Company Credit Card 516 1,107
Accruals and deferred income 94,715 49,823
181,703 93,954

ART DIVISION LIMITED (REGISTERED NUMBER: 04255948)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 DECEMBER 2023


8. RESERVES
Fair
value
reserve
£   
At 1 January 2023 (11,711 )
Revaluation of investment 2,531

At 31 December 2023 (9,180 )

9. DIRECTOR'S ADVANCES, CREDITS AND GUARANTEES

At the balance sheet date, the director owed the company £201,350 (2022: £106,608). The balance is not secured, bears interest at the HMRC approved beneficial loan rate and there are no repayment terms.