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REGISTERED NUMBER: 11588220 (England and Wales)

















ARTISAN ENGINEERING LIMITED

UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 DECEMBER 2023






ARTISAN ENGINEERING LIMITED (REGISTERED NUMBER: 11588220)






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




Page

Balance Sheet 1

Notes to the Financial Statements 3


ARTISAN ENGINEERING LIMITED (REGISTERED NUMBER: 11588220)

BALANCE SHEET
31 DECEMBER 2023

2023 2022
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 107,932 85,928

CURRENT ASSETS
Debtors 5 90,365 100,573
Cash at bank and in hand 124,346 76,660
214,711 177,233
CREDITORS
Amounts falling due within one year 6 150,448 134,329
NET CURRENT ASSETS 64,263 42,904
TOTAL ASSETS LESS CURRENT
LIABILITIES

172,195

128,832

CREDITORS
Amounts falling due after more than one
year

7

(15,661

)

(25,780

)

PROVISIONS FOR LIABILITIES (20,507 ) (9,857 )
NET ASSETS 136,027 93,195

CAPITAL AND RESERVES
Called up share capital 101 101
Retained earnings 135,926 93,094
SHAREHOLDERS' FUNDS 136,027 93,195

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 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.

ARTISAN ENGINEERING LIMITED (REGISTERED NUMBER: 11588220)

BALANCE SHEET - continued
31 DECEMBER 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 Profit and Loss Account has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 19 September 2024 and were signed on its behalf by:




A Green - Director



J Green - Director


ARTISAN ENGINEERING LIMITED (REGISTERED NUMBER: 11588220)

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

1. STATUTORY INFORMATION

Artisan Engineering Limited is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address are as below:

Registered number: 11588220

Registered office: 71 Knowl Piece
Wilbury Way
Hitchin
Hertfordshire
SG4 0TY

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.

Going concern
The director has a reasonable expectation that the company will continue to operate for the foreseeable future and so these financial statements are prepared on the going concern basis.

Significant judgements and estimates
The preparation of the financial statements requires management to make judgements, estimates and assumptions that affect the amounts reported for assets and liabilities as at the balance sheet date and the amounts reported for revenues and expenses during the year. However, the nature of estimation means that actual outcomes could differ from those estimates. In the Director's opinion, there are no significant judgements or key sources of estimation uncertainty.

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.
Freehold property - 2% on cost
Plant and machinery - 25% on reducing balance
Computer equipment - 33% on cost

Financial instruments
The company only enters into basic financial instruments that result in the recognition of financial assets and liabilities like trade and other debtors and creditors, loans from banks and other third parties, loans to related parties and investments in non-puttable ordinary shares.

Financial assets that are measured at cost and amortised cost are assessed at the end of each reporting period for objective evidence of impairment. If objective evidence of impairment is found, an impairment loss is recognised in the Profit and Loss Account.

Financial assets and liabilities are offset and the net amount reported in the Balance Sheet when there is an enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously.


ARTISAN ENGINEERING LIMITED (REGISTERED NUMBER: 11588220)

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

2. ACCOUNTING POLICIES - continued
Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Profit and Loss Account, 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.

Hire purchase and leasing commitments
Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease.

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 4 (2022 - 4 ) .

4. TANGIBLE FIXED ASSETS
Freehold Plant and Computer
property machinery equipment Totals
£    £    £    £   
COST
At 1 January 2023 35,715 58,475 9,715 103,905
Additions - 41,111 - 41,111
At 31 December 2023 35,715 99,586 9,715 145,016
DEPRECIATION
At 1 January 2023 1,667 10,260 6,050 17,977
Charge for year 714 15,404 2,989 19,107
At 31 December 2023 2,381 25,664 9,039 37,084
NET BOOK VALUE
At 31 December 2023 33,334 73,922 676 107,932
At 31 December 2022 34,048 48,215 3,665 85,928

ARTISAN ENGINEERING LIMITED (REGISTERED NUMBER: 11588220)

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

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Trade debtors 77,405 91,518
Other debtors 12,960 9,055
90,365 100,573

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Bank loans and overdrafts (see note 8) 10,951 10,757
Trade creditors 20,318 22,469
Taxation and social security 52,314 27,148
Other creditors 66,865 73,955
150,448 134,329

7. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
2023 2022
£    £   
Bank loans (see note 8) 15,661 25,780

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 10,951 10,757

Amounts falling due between one and two years:
Bank loans - 1-2 years 10,375 10,119

Amounts falling due between two and five years:
Bank loans - 2-5 years 5,286 15,661

ARTISAN ENGINEERING LIMITED (REGISTERED NUMBER: 11588220)

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

9. DIRECTORS' ADVANCES, CREDITS AND GUARANTEES

The following advances and credits to directors subsisted during the years ended 31 December 2023 and 31 December 2022:

2023 2022
£    £   
J Green
Balance outstanding at start of year 4,563 27,143
Amounts advanced 26,255 -
Amounts repaid (24,000 ) (22,580 )
Amounts written off - -
Amounts waived - -
Balance outstanding at end of year 6,818 4,563

A Green
Balance outstanding at start of year (12,716 ) (1,301 )
Amounts advanced 35,291 8,585
Amounts repaid (27,450 ) (20,000 )
Amounts written off - -
Amounts waived - -
Balance outstanding at end of year (4,875 ) (12,716 )

10. RELATED PARTY DISCLOSURES

Artisan Engineering Services
A partnership in which A Green and J Green are partners.

Management charges of £15,000 (2022: £20,000) were charged from Artisan Engineering Services during the year.

Amounts due to Artisan Engineering Services at the balance sheet date is £55,467 (2022: £56,537).

The loan is on interest free basis and there are no agreed repayment terms.