Registered number
08847648
Career Artist Ltd
Filleted Accounts
31 January 2024
Career Artist Ltd
Registered number: 08847648
Balance Sheet
as at 31 January 2024
Notes 2024 2023
£ £
Fixed assets
Tangible assets 3 576 1,150
Current assets
Debtors 4 25,000 33,500
Cash at bank and in hand 35,094 41,914
60,094 75,414
Creditors: amounts falling due within one year 5 (51,662) (66,137)
Net current assets 8,432 9,277
Total assets less current liabilities 9,008 10,427
Creditors: amounts falling due after more than one year 6 (6,549) (9,233)
Net assets 2,459 1,194
Capital and reserves
Called up share capital 100 100
Profit and loss account 2,359 1,094
Shareholders' funds 2,459 1,194
The directors are satisfied that the company is entitled to exemption from the requirement to obtain an audit under section 477 of the Companies Act 2006.
The members have not required the company to obtain an audit in accordance with section 476 of the Act.
The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts.
The accounts have been prepared and delivered in accordance with the special provisions applicable to companies subject to the small companies regime. The profit and loss account has not been delivered to the Registrar of Companies.
Mrs Shreyabahen Kiritkumar Sheth
Director
Approved by the board on 27 January 2025
Career Artist Ltd
Notes to the Accounts
for the year ended 31 January 2024
1 Accounting policies
Basis of preparation
The accounts have been prepared under the historical cost convention and in accordance with FRS 102, The Financial Reporting Standard applicable in the UK and Republic of Ireland (as applied to small entities by section 1A of the standard).
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 from the sale of goods is recognised when the significant risks and rewards of ownership of the goods have transferred to the buyer. 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
Tangible fixed assets are measured at cost less accumulative depreciation and any accumulative impairment losses. Depreciation is provided on all tangible fixed assets, other than freehold land, at rates calculated to write off the cost, less estimated residual value, of each asset evenly over its expected useful life, as follows:
Plant and machinery over 5 years
Fixtures, fittings, tools and equipment over 5 years
Debtors
Short term debtors are measured at transaction price (which is usually the invoice price), less any impairment losses for bad and doubtful debts. Loans and other financial assets are initially recognised at transaction price including any transaction costs and subsequently measured at amortised cost determined using the effective interest method, less any impairment losses for bad and doubtful debts.
Creditors
Short term creditors are measured at transaction price (which is usually the invoice price). Loans and other financial liabilities are initially recognised at transaction price net of any transaction costs and subsequently measured at amortised cost determined using the effective interest method.
Pensions
Contributions to defined contribution plans are expensed in the period to which they relate.
2 Employees 2024 2023
Number Number
Average number of persons employed by the company 2 2
3 Tangible fixed assets
Plant and machinery etc
£
Cost
At 1 February 2023 2,872
At 31 January 2024 2,872
Depreciation
At 1 February 2023 1,722
Charge for the year 574
At 31 January 2024 2,296
Net book value
At 31 January 2024 576
At 31 January 2023 1,150
4 Debtors 2024 2023
£ £
Trade debtors - 8,500
Amounts owed by group undertakings and undertakings in which the company has a participating interest 25,000 25,000
25,000 33,500
5 Creditors: amounts falling due within one year 2024 2023
£ £
Trade creditors 1,626 813
Taxation and social security costs 4,136 6,383
Other creditors 45,900 58,941
51,662 66,137
6 Creditors: amounts falling due after one year 2024 2023
£ £
Bank loans 6,549 9,233
7 Other information
Career Artist Ltd is a private company limited by shares and incorporated in England. Its registered office is:
10 Louvain Way
Watford
England
WD25 7EJ
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