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Company Registration No. 08971620 (England and Wales)
Artwatch Ltd Unaudited accounts for the year ended 31 March 2024
Artwatch Ltd Unaudited accounts Contents
Page
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Artwatch Ltd Company Information for the year ended 31 March 2024
Director
Laura Imami
Company Number
08971620 (England and Wales)
Registered Office
4 The Towers 10 Engle Park London NW7 2HB
Accountants
Solid Ltd Eagle House 163 City Road London EC1V 1NR
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Artwatch Ltd Statement of financial position as at 31 March 2024
2024 
2023 
Notes
£ 
£ 
Fixed assets
Tangible assets
1,190 
290 
Current assets
Inventories
20,000 
20,000 
Debtors
17,258 
2,279 
Cash at bank and in hand
41,731 
63,308 
78,989 
85,587 
Creditors: amounts falling due within one year
(41,941)
(27,497)
Net current assets
37,048 
58,090 
Total assets less current liabilities
38,238 
58,380 
Creditors: amounts falling due after more than one year
(14,187)
(16,936)
Net assets
24,051 
41,444 
Capital and reserves
Called up share capital
100 
100 
Profit and loss account
23,951 
41,344 
Shareholders' funds
24,051 
41,444 
For the year ending 31 March 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 director acknowledges her 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 and in accordance with the provisions of FRS 102 Section 1A - Small Entities. The profit and loss account has not been delivered to the Registrar of Companies.
The financial statements were approved by the Board and authorised for issue on 8 October 2024 and were signed on its behalf by
Laura Imami Director Company Registration No. 08971620
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Artwatch Ltd Notes to the Accounts for the year ended 31 March 2024
1
Statutory information
Artwatch Ltd is a private company, limited by shares, registered in England and Wales, registration number 08971620. The registered office is 4 The Towers, 10 Engle Park, London, NW7 2HB.
2
Compliance with accounting standards
The accounts have been prepared in accordance with the provisions of FRS 102 Section 1A Small Entities. There were no material departures from that standard.
3
Accounting policies
The principal accounting policies adopted in the preparation of the financial statements are set out below and have remained unchanged from the previous year, and also have been consistently applied within the same accounts.
Basis of preparation
The accounts have been prepared under the historical cost convention as modified by the revaluation of certain fixed assets.
Presentation currency
The accounts are presented in £ sterling.
Turnover
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. Turnover from the sale of goods is recognised when goods have been delivered to customers such that risks and rewards of ownership have transferred to them. 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.
Tangible fixed assets and depreciation
Tangible assets are included at cost less depreciation and impairment. Depreciation has been provided at the following rates in order to write off the assets over their estimated useful lives:
Plant & machinery
over 4 years
Computer equipment
over 4 years
Foreign exchange
Monetary assets and liabilities in foreign currencies are translated into sterling at the rates of exchange ruling at the balance sheet date. Transactions in foreign currencies are translated into sterling at the rates of exchange ruling at the date of the transaction. Exchange differences are taken into account in arriving at the operating profit.
Stocks
Stocks have been valued at the lower of cost and estimated selling price less costs to complete and sell. In respect of work in progress and finished goods, cost includes a relevant proportion of overheads according to the stage of manufacturing/completion.
Pension costs
The company operates a defined contribution scheme for the benefit of its employees. Contributions payable are recognised in the profit and loss account when due.
Cash and cash equivalents
Cash and cash equivalents are basic financial instruments and include cash in hand, deposits held at call with banks, other short-term liquid investments with original maturities of three months or less, and bank overdrafts. Bank overdrafts are shown within borrowings in current liabilities.
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Artwatch Ltd Notes to the Accounts for the year ended 31 March 2024
4
Tangible fixed assets
Plant & machinery 
Computer equipment 
Total 
£ 
£ 
£ 
Cost or valuation
At cost 
At cost 
At 1 April 2023
1,976 
- 
1,976 
Additions
333 
808 
1,141 
At 31 March 2024
2,309 
808 
3,117 
Depreciation
At 1 April 2023
1,686 
- 
1,686 
Charge for the year
207 
34 
241 
At 31 March 2024
1,893 
34 
1,927 
Net book value
At 31 March 2024
416 
774 
1,190 
At 31 March 2023
290 
- 
290 
5
Debtors
2024 
2023 
£ 
£ 
Amounts falling due within one year
Trade debtors
2,268 
859 
Accrued income and prepayments
153 
- 
Other debtors
14,837 
1,420 
17,258 
2,279 
6
Creditors: amounts falling due within one year
2024 
2023 
£ 
£ 
Bank loans and overdrafts
3,107 
3,107 
VAT
1,091 
827 
Trade creditors
14,169 
3,044 
Taxes and social security
115 
2,841 
Other creditors
- 
219 
Loans from directors
23,459 
17,459 
41,941 
27,497 
7
Creditors: amounts falling due after more than one year
2024 
2023 
£ 
£ 
Bank loans
14,187 
16,936 
BBL loan backed by 100% government guarantee and financing of first year's interest by means of government grant.
8
Share capital
2024 
2023 
£ 
£ 
Allotted, called up and fully paid:
100 Ordinary shares of £1 each
100 
100 
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Artwatch Ltd Notes to the Accounts for the year ended 31 March 2024
9
Average number of employees
During the year the average number of employees was 2 (2023: 2).
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