Artburst Limited 05771971 false 2023-04-01 2024-03-31 2024-03-31 The principal activity of the company is Art Education Services Digita Accounts Production Advanced 6.30.9574.0 true true 05771971 2023-04-01 2024-03-31 05771971 2024-03-31 05771971 core:FurtherSpecificReserve1ComponentTotalEquity 2024-03-31 05771971 core:RetainedEarningsAccumulatedLosses 2024-03-31 05771971 core:CurrentFinancialInstruments 2024-03-31 05771971 core:CurrentFinancialInstruments core:WithinOneYear 2024-03-31 05771971 core:FurnitureFittingsToolsEquipment 2024-03-31 05771971 bus:SmallEntities 2023-04-01 2024-03-31 05771971 bus:AuditExemptWithAccountantsReport 2023-04-01 2024-03-31 05771971 bus:FilletedAccounts 2023-04-01 2024-03-31 05771971 bus:SmallCompaniesRegimeForAccounts 2023-04-01 2024-03-31 05771971 bus:RegisteredOffice 2023-04-01 2024-03-31 05771971 bus:CompanySecretaryDirector1 2023-04-01 2024-03-31 05771971 bus:Director2 2023-04-01 2024-03-31 05771971 bus:Director3 2023-04-01 2024-03-31 05771971 bus:CompanyLimitedByGuarantee 2023-04-01 2024-03-31 05771971 core:FurtherSpecificReserve1ComponentTotalEquity 2023-04-01 2024-03-31 05771971 core:RetainedEarningsAccumulatedLosses 2023-04-01 2024-03-31 05771971 core:FurnitureFittingsToolsEquipment 2023-04-01 2024-03-31 05771971 core:OfficeEquipment 2023-04-01 2024-03-31 05771971 countries:EnglandWales 2023-04-01 2024-03-31 05771971 2023-03-31 05771971 core:FurtherSpecificReserve1ComponentTotalEquity 2023-03-31 05771971 core:RetainedEarningsAccumulatedLosses 2023-03-31 05771971 core:FurnitureFittingsToolsEquipment 2023-03-31 05771971 2022-04-01 2023-03-31 05771971 2023-03-31 05771971 core:CurrentFinancialInstruments 2023-03-31 05771971 core:CurrentFinancialInstruments core:WithinOneYear 2023-03-31 05771971 core:FurnitureFittingsToolsEquipment 2023-03-31 05771971 core:FurtherSpecificReserve1ComponentTotalEquity 2022-04-01 2023-03-31 05771971 core:RetainedEarningsAccumulatedLosses 2022-04-01 2023-03-31 05771971 2022-03-31 05771971 core:FurtherSpecificReserve1ComponentTotalEquity 2022-03-31 05771971 core:RetainedEarningsAccumulatedLosses 2022-03-31 iso4217:GBP xbrli:pure

Registration number: 05771971

Artburst Limited

(A company limited by guarantee)

Unaudited Filleted Financial Statements

for the Year Ended 31 March 2024

 

Artburst Limited

Contents

Company Information

1

Balance Sheet

2 to 3

Statement of Changes in Equity

4

Notes to the Unaudited Financial Statements

5 to 8

 

Artburst Limited

Company Information

Directors

A Bicat

P A Embden

J Humphrey

Company secretary

A Bicat

Registered office

Wynford Community Hall
Wynford Estate
Risinghill Street
London
N1 9SY

 

Artburst Limited

(Registration number: 05771971)
Balance Sheet as at 31 March 2024

Note

2024
£

2023
£

Fixed assets

 

Tangible assets

5

1,891

2,522

Current assets

 

Debtors

6

7,588

11,277

Cash at bank and in hand

 

36,952

5,904

 

44,540

17,181

Creditors: Amounts falling due within one year

7

(6,162)

(2,593)

Net current assets

 

38,378

14,588

Net assets

 

40,269

17,110

Reserves

 

Other reserves

23,654

7,327

Retained earnings

16,615

9,783

Surplus

 

40,269

17,110

For the financial 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.

Directors' responsibilities:

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

The directors acknowledge 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. As permitted by section 444 (5A) of the Companies Act 2006, the directors have not delivered to the registrar a copy of the Profit and Loss Account.

Approved and authorised by the Board on 14 November 2024 and signed on its behalf by:
 

 

Artburst Limited

(Registration number: 05771971)
Balance Sheet as at 31 March 2024

.........................................
A Bicat
Company secretary and director

.........................................
J Humphrey
Director

 

Artburst Limited

Statement of Changes in Equity for the Year Ended 31 March 2024

Restricted funds
£

Retained earnings
£

Total
£

At 1 April 2023

7,327

9,783

17,110

Surplus for the year

-

6,832

6,832

Movement in grant income unspent at year end

16,327

-

16,327

Movement on funds

16,327

6,832

23,159

At 31 March 2024

23,654

16,615

40,269

Restricted funds
£

Retained earnings
£

Total
£

At 1 April 2022

-

9,749

9,749

Surplus for the year

-

34

34

Grant income received unspent at year end

7,327

-

7,327

Movement in funds

7,327

34

7,361

At 31 March 2023

7,327

9,783

17,110

 

Artburst Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 March 2024

1

General information

The company is a company limited by guarantee, incorporated in England and Wales, and consequently does not have share capital. Each of the members is liable to contribute an amount not exceeding £1 towards the assets of the company in the event of liquidation.

The address of its registered office is:
Wynford Community Hall
Wynford Estate
Risinghill Street
London
N1 9SY
United Kingdom

These financial statements were authorised for issue by the Board on 14 November 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.

Going concern

The financial statements have been prepared on a going concern basis.

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.

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.

 

Artburst Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 March 2024

Tangible assets

Tangible assets are stated in the balance sheet at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.

The cost of tangible assets includes directly attributable incremental costs incurred in their acquisition and installation.

Depreciation

Depreciation is charged so as to write off the cost of assets, other than land and properties under construction over their estimated useful lives, as follows:

Asset class

Depreciation method and rate

Furniture, fittings and equipment

25% reducing balance

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.

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.

Defined contribution pension obligation

A defined contribution plan is a pension plan under which fixed contributions are paid into a pension fund and the company has no legal or constructive obligation to pay further contributions even if the fund does not hold sufficient assets to pay all employees the benefits relating to employee service in the current and prior periods.

Contributions to defined contribution plans are recognised as employee benefit expense when they are due. If contribution payments exceed the contribution due for service, the excess is recognised as a prepayment.

3

Staff numbers

The average number of persons employed by the company (including directors) during the year, was 3 (2023 - 3).

 

Artburst Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 March 2024

4

Turnover

2024

2023

£

£

GRANT INCOME

Action For Bow

25,070

14,197

Peabody Pembury - London Community Fund

4,776

5,084

National Lottery - Awards For All

3,000

-

Children in Need

4,253

-

Peabody Community - London Community Fund

3,893

East End Community Foundation

2,551

2,449

Hackney Grants

-

3,590

£43,543

£25,320

PROJECT INCOME

London Transport Museum

13,800

26,275

Museum of the Order of St John

2,850

4,560

All England Lawn Tennis Club

16,185

-

The Wimbledon Foundation

1,200

5,000

Peabody Pembury

1,410

-

The Wimbledon Society

-

4,000

Royal Botanic Gardens, Kew

-

500

Museum of London

-

1,055

Schools

19,258

20,970

Other workshop income

14,124

11,189

£68,827

£73,549

Total turnover

£112,370

£98,869

 

Artburst Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 March 2024

5

Tangible assets

Furniture, fittings and equipment
 £

Total
£

Cost or valuation

At 1 April 2023

14,979

14,979

At 31 March 2024

14,979

14,979

Depreciation

At 1 April 2023

12,457

12,457

Charge for the year

631

631

At 31 March 2024

13,088

13,088

Carrying amount

At 31 March 2024

1,891

1,891

At 31 March 2023

2,522

2,522

6

Debtors

Current

2024
£

2023
£

Trade debtors

1,168

9,011

Other debtors

6,420

2,266

 

7,588

11,277

7

Creditors

Creditors: amounts falling due within one year

2024
£

2023
£

Due within one year

Taxation and social security

2,660

-

Accruals and deferred income

3,270

2,385

Other creditors

232

208

6,162

2,593