IRIS Accounts Production v24.3.2.46 11640544 director 1.11.23 31.10.24 31.10.24 false true false false true false iso4217:GBPiso4217:USDiso4217:EURxbrli:sharesxbrli:pureutr:tonnesutr:kWh116405442023-10-31116405442024-10-31116405442023-11-012024-10-31116405442022-10-31116405442022-11-012023-10-31116405442023-10-3111640544ns15:EnglandWales2023-11-012024-10-3111640544ns14:PoundSterling2023-11-012024-10-3111640544ns10:Director12023-11-012024-10-3111640544ns10:PrivateLimitedCompanyLtd2023-11-012024-10-3111640544ns10:SmallEntities2023-11-012024-10-3111640544ns10:AuditExempt-NoAccountantsReport2023-11-012024-10-3111640544ns10:SmallCompaniesRegimeForDirectorsReport2023-11-012024-10-3111640544ns10:SmallCompaniesRegimeForAccounts2023-11-012024-10-3111640544ns10:FullAccounts2023-11-012024-10-3111640544ns10:CompanySecretary12023-11-012024-10-3111640544ns10:RegisteredOffice2023-11-012024-10-3111640544ns5:CurrentFinancialInstruments2024-10-3111640544ns5:CurrentFinancialInstruments2023-10-3111640544ns5:ShareCapital2024-10-3111640544ns5:ShareCapital2023-10-3111640544ns5:RetainedEarningsAccumulatedLosses2024-10-3111640544ns5:RetainedEarningsAccumulatedLosses2023-10-3111640544ns5:ComputerEquipment2023-11-012024-10-3111640544ns5:FurnitureFittings2023-10-3111640544ns5:ComputerEquipment2023-10-3111640544ns5:FurnitureFittings2023-11-012024-10-3111640544ns5:FurnitureFittings2024-10-3111640544ns5:ComputerEquipment2024-10-3111640544ns5:FurnitureFittings2023-10-3111640544ns5:ComputerEquipment2023-10-31
REGISTERED NUMBER: 11640544 (England and Wales)












UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 OCTOBER 2024

FOR

THE-ART-FORM LTD

THE-ART-FORM LTD (REGISTERED NUMBER: 11640544)

CONTENTS OF THE FINANCIAL STATEMENTS
for the year ended 31 October 2024










Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 3


THE-ART-FORM LTD

COMPANY INFORMATION
for the year ended 31 October 2024







DIRECTOR: A D Townsend





SECRETARY: C E Townsend





REGISTERED OFFICE: 1 Brook Lane
Collingham
Newark
Nottinghamshire
NG23 7QY





REGISTERED NUMBER: 11640544 (England and Wales)





ACCOUNTANTS: Magma Audit LLP
Unit 2 Charnwood Edge Business Park
Syston Road, Leicester
LE7 4UZ
Magma Audit LLP is part
Of the Dains Group

THE-ART-FORM LTD (REGISTERED NUMBER: 11640544)

BALANCE SHEET
31 October 2024

2024 2023
Notes £    £   
FIXED ASSETS
Tangible assets 4 850 396

CURRENT ASSETS
Debtors 5 4,710 5,600
Cash at bank 87,299 67,190
92,009 72,790
CREDITORS
Amounts falling due within one year 6 (23,102 ) (16,321 )
NET CURRENT ASSETS 68,907 56,469
TOTAL ASSETS LESS CURRENT
LIABILITIES

69,757

56,865

CAPITAL AND RESERVES
Called up share capital 10 10
Retained earnings 69,747 56,855
69,757 56,865

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 October 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 October 2024 in accordance with Section 476 of the Companies Act 2006.

The director acknowledges his responsibilities for:
(a)ensuring that the company keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006 and
(b)preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of each financial year and of its profit or loss for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the company.

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

In accordance with Section 444 of the Companies Act 2006, the Statement of Income and Retained Earnings has not been delivered.

The financial statements were approved by the director and authorised for issue on 14 January 2025 and were signed by:





A D Townsend - Director


THE-ART-FORM LTD (REGISTERED NUMBER: 11640544)

NOTES TO THE FINANCIAL STATEMENTS
for the year ended 31 October 2024


1. STATUTORY INFORMATION

The-Art-Form Ltd is a limited company, registered in England and Wales. Its registered office address is 1 Brook Lane Collingham Newark Nottinghamshire NG23 7QY and the registered number is 11640544.

2. ACCOUNTING POLICIES

Basis of preparing the financial statements
These financial statements have been prepared in accordance with Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" including the provisions of Section 1A "Small Entities" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.

Turnover
Turnover is measured as the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. The following criteria must also be met before revenue is recognised:

Rendering of services
Revenue from a contract to provide services is recognised in the period in which the services are provided in accordance with the stage of completion of the contract when all of the following conditions are satisfied:
- the amount of revenue can be measured reliably;
- it is probable that the Company will receive the consideration due under the contract;
- the stage of completion of the contract at the end of the reporting period can be measured reliably; and
- the costs incurred and the costs to complete the contract can be measured reliably.

Rendering of goods
Revenue from the sale of goods is recognised when the significant risks and rewards of ownership of the goods have passed to the buyer (usually on dispatch of the goods) , the amount of revenue can be measured reliably, it is probable that the economic benefits associated with the transaction will flow to the entity and the costs incurred or to be incurred in respect of the transaction can be measured reliably.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Computer equipment - 25% straight line

Financial instruments
(i) Financial assets

Basic financial assets, including trade and other debtors, cash and bank balances are initially recognised at transaction price, unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest.

Such assets are subsequently carried at amortised cost using the effective interest rate method.

(ii) Financial liabilities

Basic financial liabilities, including trade and other creditors are initially recognised at transaction price, unless the arrangement constitutes a financing transaction, where the debt instrument is measured at the present value of the future payments discounted at a market rate of interest.

Debt instruments are subsequently carried at amortised cost, using the effective interest rate.


THE-ART-FORM LTD (REGISTERED NUMBER: 11640544)

NOTES TO THE FINANCIAL STATEMENTS - continued
for the year ended 31 October 2024


2. ACCOUNTING POLICIES - continued
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.

Deferred tax balances are recognised in respect of all timing differences that have originated but not reversed by the Balance Sheet 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.

Both current and deferred tax is determined using tax rates and laws that have been enacted or substantively
enacted by the balance sheet date.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 1 (2023 - 2 ) .

4. TANGIBLE FIXED ASSETS
Fixtures
and Computer
fittings equipment Totals
£    £    £   
COST
At 1 November 2023 1,177 448 1,625
Additions 999 - 999
At 31 October 2024 2,176 448 2,624
DEPRECIATION
At 1 November 2023 781 448 1,229
Charge for year 545 - 545
At 31 October 2024 1,326 448 1,774
NET BOOK VALUE
At 31 October 2024 850 - 850
At 31 October 2023 396 - 396

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Trade debtors 4,710 5,600

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Trade creditors 1,636 -
Tax 7,843 7,273
VAT 2,398 -
Directors' current accounts 516 637
Accruals and deferred income 10,709 8,411
23,102 16,321