Acorah Software Products - Accounts Production 15.0.600 false true 31 March 2023 1 April 2022 false 1 April 2023 31 March 2024 31 March 2024 12508392 Mr Sean Bloor iso4217:GBP iso4217:EUR iso4217:USD xbrli:shares xbrli:pure xbrli:pure 12508392 2023-03-31 12508392 2024-03-31 12508392 2023-04-01 2024-03-31 12508392 frs-core:CurrentFinancialInstruments 2024-03-31 12508392 frs-core:Non-currentFinancialInstruments 2024-03-31 12508392 frs-core:ComputerEquipment 2024-03-31 12508392 frs-core:ComputerEquipment 2023-04-01 2024-03-31 12508392 frs-core:ComputerEquipment 2023-03-31 12508392 frs-core:FurnitureFittings 2024-03-31 12508392 frs-core:FurnitureFittings 2023-04-01 2024-03-31 12508392 frs-core:FurnitureFittings 2023-03-31 12508392 frs-core:ShareCapital 2024-03-31 12508392 frs-core:RetainedEarningsAccumulatedLosses 2024-03-31 12508392 frs-bus:PrivateLimitedCompanyLtd 2023-04-01 2024-03-31 12508392 frs-bus:FilletedAccounts 2023-04-01 2024-03-31 12508392 frs-bus:SmallEntities 2023-04-01 2024-03-31 12508392 frs-bus:AuditExempt-NoAccountantsReport 2023-04-01 2024-03-31 12508392 frs-bus:SmallCompaniesRegimeForAccounts 2023-04-01 2024-03-31 12508392 frs-bus:Director1 2023-04-01 2024-03-31 12508392 frs-countries:EnglandWales 2023-04-01 2024-03-31 12508392 2022-03-31 12508392 2023-03-31 12508392 2022-04-01 2023-03-31 12508392 frs-core:CurrentFinancialInstruments 2023-03-31 12508392 frs-core:Non-currentFinancialInstruments 2023-03-31 12508392 frs-core:ShareCapital 2023-03-31 12508392 frs-core:RetainedEarningsAccumulatedLosses 2023-03-31
Registered number: 12508392
Professional-Artist Limited
Unaudited Financial Statements
For The Year Ended 31 March 2024
Beaumonts Chartered Accountants
ICAEW
Contents
Page
Balance Sheet 1—2
Notes to the Financial Statements 3—4
Page 1
Balance Sheet
Registered number: 12508392
2024 2023
Notes £ £ £ £
FIXED ASSETS
Tangible Assets 4 1,271 1,549
1,271 1,549
CURRENT ASSETS
Stocks 5 9,000 -
Debtors 6 4,780 6,440
Cash at bank and in hand 7,845 4,571
21,625 11,011
Creditors: Amounts Falling Due Within One Year (11,633 ) (7,621 )
NET CURRENT ASSETS (LIABILITIES) 9,992 3,390
TOTAL ASSETS LESS CURRENT LIABILITIES 11,263 4,939
Creditors: Amounts Falling Due After More Than One Year 7 (25,750 ) (13,380 )
NET LIABILITIES (14,487 ) (8,441 )
CAPITAL AND RESERVES
Called up share capital 8 1 1
Profit and Loss Account (14,488 ) (8,442 )
SHAREHOLDERS' FUNDS (14,487) (8,441)
Page 1
Page 2
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 member has not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The director acknowledges his 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 Profit and Loss Account.
On behalf of the board
Mr Sean Bloor
Director
27/12/2024
The notes on pages 3 to 4 form part of these financial statements.
Page 2
Page 3
Notes to the Financial Statements
1. General Information
Professional-Artist Limited is a private company, limited by shares, incorporated in England & Wales, registered number 12508392 . The registered office is 20 Brackley Avenue, Stoke on Trent, ST6 7DN.
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.
Sale of goods
Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods has transferred to the buyer. This is usually at the point that the customer has signed for the delivery of the goods.
Rendering of services
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. Turnover is only recognised to the extent of recoverable expenses when the outcome of a contract cannot be estimated reliably.
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 basis:
Fixtures & Fittings 18% Reducing Balance
Computer Equipment 18% Reducing Balance
2.4. Stocks and Work in Progress
Stocks and work in progress are valued at the lower of cost and net realisable value after making due allowance for obsolete and slow-moving stocks. Cost includes all direct costs and an appropriate proportion of fixed and variable overheads. Work-in-progress is reflected in the accounts on a contract by contract basis by recording turnover and related costs as contract activity progresses.
3. Average Number of Employees
Average number of employees, including directors, during the year was: 1 (2023: 1)
1 1
4. Tangible Assets
Fixtures & Fittings Computer Equipment Total
£ £ £
Cost
As at 1 April 2023 1,000 1,739 2,739
As at 31 March 2024 1,000 1,739 2,739
Depreciation
As at 1 April 2023 449 741 1,190
Provided during the period 99 179 278
As at 31 March 2024 548 920 1,468
...CONTINUED
Page 3
Page 4
Net Book Value
As at 31 March 2024 452 819 1,271
As at 1 April 2023 551 998 1,549
5. Stocks
2024 2023
£ £
Stock 9,000 -
6. Debtors
2024 2023
£ £
Due within one year
Trade debtors 763 1,173
Other debtors 4,017 5,267
4,780 6,440
7. Creditors: Amounts Falling Due After More Than One Year
2024 2023
£ £
Amounts owed to group undertakings 2,170 2,170
Other creditors 23,580 11,210
25,750 13,380
8. Share Capital
2024 2023
£ £
Allotted, Called up and fully paid 1 1
Page 4