Caseware UK (AP4) 2023.0.135 2023.0.135 2024-07-312024-07-31true9falsefalse2023-08-01No description of principal activity7trueThe members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006. 10278552 2023-08-01 2024-07-31 10278552 2022-08-01 2023-07-31 10278552 2024-07-31 10278552 2023-07-31 10278552 c:Director1 2023-08-01 2024-07-31 10278552 c:Director2 2023-08-01 2024-07-31 10278552 c:Director3 2023-08-01 2024-07-31 10278552 c:RegisteredOffice 2023-08-01 2024-07-31 10278552 d:MotorVehicles 2023-08-01 2024-07-31 10278552 d:MotorVehicles 2024-07-31 10278552 d:MotorVehicles 2023-07-31 10278552 d:MotorVehicles d:OwnedOrFreeholdAssets 2023-08-01 2024-07-31 10278552 d:OfficeEquipment 2023-08-01 2024-07-31 10278552 d:OfficeEquipment 2024-07-31 10278552 d:OfficeEquipment 2023-07-31 10278552 d:OfficeEquipment d:OwnedOrFreeholdAssets 2023-08-01 2024-07-31 10278552 d:OwnedOrFreeholdAssets 2023-08-01 2024-07-31 10278552 d:CurrentFinancialInstruments 2024-07-31 10278552 d:CurrentFinancialInstruments 2023-07-31 10278552 d:Non-currentFinancialInstruments 2024-07-31 10278552 d:Non-currentFinancialInstruments 2023-07-31 10278552 d:CurrentFinancialInstruments d:WithinOneYear 2024-07-31 10278552 d:CurrentFinancialInstruments d:WithinOneYear 2023-07-31 10278552 d:Non-currentFinancialInstruments d:AfterOneYear 2024-07-31 10278552 d:Non-currentFinancialInstruments d:AfterOneYear 2023-07-31 10278552 d:ShareCapital 2024-07-31 10278552 d:ShareCapital 2023-07-31 10278552 d:SharePremium 2024-07-31 10278552 d:SharePremium 2023-07-31 10278552 d:RetainedEarningsAccumulatedLosses 2024-07-31 10278552 d:RetainedEarningsAccumulatedLosses 2023-07-31 10278552 c:FRS102 2023-08-01 2024-07-31 10278552 c:AuditExempt-NoAccountantsReport 2023-08-01 2024-07-31 10278552 c:FullAccounts 2023-08-01 2024-07-31 10278552 c:PrivateLimitedCompanyLtd 2023-08-01 2024-07-31 10278552 6 2023-08-01 2024-07-31 10278552 e:PoundSterling 2023-08-01 2024-07-31 iso4217:GBP xbrli:pure
Company registration number: 10278552







UNAUDITED FINANCIAL STATEMENTS
FOR THE YEAR ENDED
31 JULY 2024


ART-K LIMITED



































                       img6682.png 

 


ART-K LIMITED
 


 
COMPANY INFORMATION


Directors
D J Harper 
E R Harper 
K M Harper 




Registered number
10278552



Registered office
Conifers
The Warren

Ashtead

Surrey

England

KT21 2RX




Accountants
Menzies LLP
Chartered Accountants

Ashcombe House

5 The Crescent

Leatherhead

Surrey

KT22 8DY





 


ART-K LIMITED
 



CONTENTS



Page
Statement of Financial Position
1 - 2
Notes to the Financial Statements
3 - 7


 


ART-K LIMITED
REGISTERED NUMBER:10278552



STATEMENT OF FINANCIAL POSITION
AS AT 31 JULY 2024

2024
2023
Note
£
£

Fixed assets
  

Tangible assets
 4 
22,990
40,031

Investments
 5 
2,320
2,318

  
25,310
42,349

Current assets
  

Debtors: amounts falling due within one year
 6 
815,142
334,427

Cash at bank and in hand
  
205,910
79,184

  
1,021,052
413,611

Creditors: amounts falling due within one year
 7 
(900,292)
(394,041)

Net current assets
  
 
 
120,760
 
 
19,570

Total assets less current liabilities
  
146,070
61,919

Creditors: amounts falling due after more than one year
 8 
(8,334)
(25,333)

Provisions for liabilities
  

Deferred tax
  
-
(6,154)

  
 
 
-
 
 
(6,154)

Net assets
  
137,736
30,432


Capital and reserves
  

Allotted, called up and fully paid share capital
  
103
103

Share premium account
  
4,997
4,997

Profit and loss account
  
132,636
25,332

  
137,736
30,432


Page 1

 


ART-K LIMITED
REGISTERED NUMBER:10278552


    
STATEMENT OF FINANCIAL POSITION (CONTINUED)
AS AT 31 JULY 2024

The directors consider that the Company is entitled to exemption from audit under section 477 of the Companies Act 2006 and members have not required the Company to obtain an audit for the year in question in accordance with section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.

The financial statements have been prepared 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 financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime.

The Company has opted not to file the statement of income and retained earnings in accordance with provisions applicable to companies subject to the small companies' regime.

The financial statements were approved and authorised for issue by the board and were signed on its behalf by: 




E R Harper
Director

Date: 9 January 2025

The notes on pages 3 to 7 form part of these financial statements.

Page 2

 


ART-K LIMITED
 


 
NOTES TO THE FINANCIAL STATEMENTS
 FOR THE YEAR ENDED 31 JULY 2024

1.


General information

Art-K Limited is a private company limited by shares and incorporated in England and Wales. The address of the registered office is given in the company information page of these financial statements.

2.Accounting policies

 
2.1

Basis of preparation of financial statements

The financial statements have been prepared under the historical cost convention unless otherwise specified within these accounting policies and in accordance with FRS 102 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland' and the requirements of the Companies Act 2006. The disclosure requirements of Section 1A of FRS 102 have been applied other than where additional disclosure is required to show a true and fair view.

The following principal accounting policies have been applied:

 
2.2

Exemption from preparing consolidated financial statements

The company, and the group headed by it, qualify as small as set out in section 383 of the Companies Act 2006 and the parent and group are considered eligible for the exemption to prepare consolidated accounts.

 
2.3

Revenue

Revenue consists of management and franchise fees charged for the organisation of art clubs. Revenue is recognised to the extent that it is probable that the economic benefits will flow to the company and the revenue can be reliably measured. Revenue is measured as the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

 
2.4

Finance costs

Finance costs are charged to profit or loss over the term of the debt using the effective interest method so that the amount charged is at a constant rate on the carrying amount. Issue costs are initially recognised as a reduction in the proceeds of the associated capital instrument.

 
2.5

Borrowing costs

All borrowing costs are recognised in profit or loss in the year in which they are incurred.

 
2.6

Pensions

Defined contribution pension plan

The Company operates a defined contribution plan for its employees. A defined contribution plan is a pension plan under which the Company pays fixed contributions into a separate entity. Once the contributions have been paid the Company has no further payment obligations.

The contributions are recognised as an expense in profit or loss when they fall due. Amounts not paid are shown in accruals as a liability in the Statement of Financial Position. The assets of the plan are held separately from the Company in independently administered funds.

Page 3

 


ART-K LIMITED
 


 
NOTES TO THE FINANCIAL STATEMENTS
 FOR THE YEAR ENDED 31 JULY 2024

2.Accounting policies (continued)

 
2.7

Current and deferred taxation

The tax expense for the year comprises current and deferred tax. Tax is recognised in profit or loss except that a charge attributable to an item of income and expense recognised as other comprehensive income or to an item recognised directly in equity is also recognised in other comprehensive income or directly in equity respectively.

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 income.

Deferred tax balances are recognised in respect of all timing differences that have originated but not reversed by the reporting date, except that:
The recognition of deferred tax assets is limited to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits; and
Any deferred tax balances are reversed if and when all conditions for retaining associated tax allowances have been met.

Deferred tax balances are not recognised in respect of permanent differences except in respect of business combinations, when deferred tax is recognised on the differences between the fair values of assets acquired and the future tax deductions available for them and the differences between the fair values of liabilities acquired and the amount that will be assessed for tax. Deferred tax is determined using tax rates and laws that have been enacted or substantively enacted by the reporting date.

 
2.8

Valuation of investments

Investments in subsidiaries are measured at cost less accumulated impairment.

 
2.9

Provisions for liabilities

Provisions are recognised when an event has taken place that gives rise to a legal or constructive obligation, a transfer of economic benefits is probable and a reliable estimate can be made.
Provisions are measured as the best estimate of the amount required to settle the obligation, taking into account the related risks and uncertainties.
 
Increases in provisions are generally charged as an expense to profit or loss.

 
2.10

Tangible fixed assets

Tangible fixed assets under the cost model are stated at historical cost less accumulated depreciation and any accumulated impairment losses. Historical cost includes expenditure that is directly attributable to bringing the asset to the location and condition necessary for it to be capable of operating in the manner intended by management.

Page 4

 


ART-K LIMITED
 


 
NOTES TO THE FINANCIAL STATEMENTS
 FOR THE YEAR ENDED 31 JULY 2024

2.Accounting policies (continued)


2.10
Tangible fixed assets (continued)

Depreciation is charged so as to allocate the cost of assets less their residual value over their estimated useful lives, using the straight-line method.

Depreciation is provided on the following basis:

Motor vehicles
-
25% Straight line
Office equipment
-
25% Straight line

The assets' residual values, useful lives and depreciation methods are reviewed, and adjusted prospectively if appropriate, or if there is an indication of a significant change since the last reporting date.

Gains and losses on disposals are determined by comparing the proceeds with the carrying amount and are recognised in profit or loss.


3.


Employees

The average monthly number of employees, including the directors, during the year was 7 (2023 - 9). 


4.


Tangible fixed assets





Motor vehicles
Office equipment
Total

£
£
£



Cost or valuation


At 1 August 2023
15,800
90,246
106,046


Additions
-
8,737
8,737



At 31 July 2024

15,800
98,983
114,783



Depreciation


At 1 August 2023
11,850
54,165
66,015


Charge for the year on owned assets
3,950
21,828
25,778



At 31 July 2024

15,800
75,993
91,793



Net book value



At 31 July 2024
-
22,990
22,990



At 31 July 2023
3,950
36,081
40,031

Page 5

 


ART-K LIMITED
 


 
NOTES TO THE FINANCIAL STATEMENTS
 FOR THE YEAR ENDED 31 JULY 2024

5.


Fixed asset investments





Investments in subsidiary companies

£



Cost or valuation


At 1 August 2023
2,318


Additions
2



At 31 July 2024
2,320






Net book value



At 31 July 2024
2,320



At 31 July 2023
2,318


6.


Debtors

2024
2023
£
£


Trade debtors
15,751
3,496

Amounts owed by group undertakings
757,364
313,167

Other debtors
-
144

Prepayments and accrued income
19,664
17,620

Deferred taxation
22,363
-

815,142
334,427



7.


Creditors: Amounts falling due within one year

2024
2023
£
£

Other loans
17,000
31,000

Amounts owed to group undertakings
816,490
309,137

Other taxation and social security
46,135
35,232

Other creditors
16,062
14,492

Accruals and deferred income
4,605
4,180

900,292
394,041


The Art-K Pension Scheme loan is secured over the trademark of Art-K Limited.

Page 6

 


ART-K LIMITED
 


 
NOTES TO THE FINANCIAL STATEMENTS
 FOR THE YEAR ENDED 31 JULY 2024

8.


Creditors: Amounts falling due after more than one year

2024
2023
£
£

Other loans
8,334
25,333

8,334
25,333


The Art-K Pension Scheme loan is secured over the trademark of Art-K Limited.


9.


Transactions with directors

Included within other debtors are the following transactions with the directors.


2024
2023
£
£

Balance outstanding at start of year
144
(878)
Amounts advanced
630
1,022
Amounts repaid
(774)
-
Balance outstanding at end of year
-
144

No interest was charged on this loan. The loan is repayable on demand.

 
Page 7