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Registered number: 10192035
Arietem Limited
Financial Statements
For The Year Ended 31 May 2024
Financial Statements
Contents
Page
Statement of Financial Position 1—2
Notes to the Financial Statements 3—5
Page 1
Statement of Financial Position
Registered number: 10192035
2024 2023
Notes £ £ £ £
FIXED ASSETS
Tangible Assets 4 2,391 2,751
2,391 2,751
CURRENT ASSETS
Debtors 5 10,260 11,880
Cash at bank and in hand 7,983 11,753
18,243 23,633
Creditors: Amounts Falling Due Within One Year 6 (18,363 ) (25,851 )
NET CURRENT ASSETS (LIABILITIES) (120 ) (2,218 )
TOTAL ASSETS LESS CURRENT LIABILITIES 2,271 533
NET ASSETS 2,271 533
CAPITAL AND RESERVES
Called up share capital 7 100 100
Income Statement 2,171 433
SHAREHOLDERS' FUNDS 2,271 533
Page 1
Page 2
For the year ending 31 May 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
These accounts have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime.
The company has taken advantage of section 444(1) of the Companies Act 2006 and opted not to deliver to the registrar a copy of the company's Income Statement.
On behalf of the board
Paul Tice
Director
15/10/2024
The notes on pages 3 to 5 form part of these financial statements.
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Notes to the Financial Statements
1. General Information
Arietem Limited is a private company, limited by shares, incorporated in England & Wales, registered number 10192035 . The registered office is The Greenhouse, Ashbourne Road, Derby, DE22 3AG.
2. Accounting Policies
2.1. Basis of Preparation of Financial Statements
The financial statements have been prepared under the historical cost convention and in accordance with Financial Reporting Standard 102 section 1A Small Entities "The Financial Reporting Standard applicable in the UK and Republic of Ireland" and the Companies Act 2006.
2.2. Turnover
Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover includes revenue earned from the sale of goods and from the rendering of services. Turnover is reduced for estimated customer returns, rebates and other similar allowances.

2.3. Tangible Fixed Assets and Depreciation
Tangible fixed assets are measured at cost less accumulated depreciation and any accumulated impairment losses. Depreciation is provided at rates calculated to write off the cost of the fixed assets, less their estimated residual value, over their expected useful lives on the following bases:
Fixtures & Fittings 25% reducing balance
Computer Equipment 33% straight line
2.4. Taxation
Income tax expense represents the sum of the tax currently payable and deferred tax.
The tax currently payable is based on taxable profit for the year. Taxable profit differs from profit as reported in the statement of comprehensive income because of items of income or expense that are taxable or deductible in other year and items that are never taxable or deductible. The company's liability for current tax is calculated using tax rates that have been enacted or substantively enacted by the end of the reporting period.
Deferred tax is recognised on timing differences between the carrying amounts of assets and liabilities in the financial statements and the corresponding tax bases used in the computation of taxable profit. Deferred tax liabilities are generally recognised for all taxable timing differences. Deferred tax assets are generally recognised for all deductible temporary differences to the extent that it is probable that taxable profits will be available against which those deductible timing differences can be utilised. The carrying amount of deferred tax assets is reviewed at the end of each reporting period and reduced to the extent that it is no longer probable that sufficient taxable profits will be available to allow all or part of the asset to be recovered.
3. Average Number of Employees
Average number of employees, including directors, during the year was:
2024 2023
Office and administration 2 3
2 3
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4. Tangible Assets
Fixtures & Fittings Computer Equipment Total
£ £ £
Cost
As at 1 June 2023 3,378 8,311 11,689
Additions 407 1,223 1,630
Disposals - (1,966 ) (1,966 )
As at 31 May 2024 3,785 7,568 11,353
Depreciation
As at 1 June 2023 2,561 6,377 8,938
Provided during the period 307 996 1,303
Disposals - (1,279 ) (1,279 )
As at 31 May 2024 2,868 6,094 8,962
Net Book Value
As at 31 May 2024 917 1,474 2,391
As at 1 June 2023 817 1,934 2,751
5. Debtors
2024 2023
£ £
Due within one year
Trade debtors 10,260 11,880
10,260 11,880
6. Creditors: Amounts Falling Due Within One Year
2024 2023
£ £
Trade creditors 113 153
Other creditors 7,579 13,108
Taxation and social security 10,671 12,590
18,363 25,851
7. Share Capital
2024 2023
£ £
Allotted, Called up and fully paid 100 100
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8. Directors Advances, Credits and Guarantees
Included within Creditors are the following loans from directors:
As at 1 June 2023 Amounts advanced Amounts repaid Amounts written off As at 31 May 2024
£ £ £ £ £
Mr Paul Tice 6,494 (3,060 ) 260 - 3,694
Mrs Barbara Tice 6,614 (2,989 ) 260 - 3,885
The above loans are unsecured, interest free and repayable on demand.
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