2023-03-012024-02-292024-02-29false07951580PRO ARTE STRINGED INSTRUMENTS 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PRO ARTE STRINGED INSTRUMENTS LTD

Registered Number
07951580
(England and Wales)

Unaudited Financial Statements for the Year ended
29 February 2024

PRO ARTE STRINGED INSTRUMENTS LTD
Company Information
for the year from 1 March 2023 to 29 February 2024

Directors

PEDUS, Dirk Philemon Maria Leon
PEDUS, Mark

Company Secretary

PEDUS, Dirk Philemon Maria Leon

Registered Address

196 Broadhurst Gardens
London
NW6 3AY

Registered Number

07951580 (England and Wales)
PRO ARTE STRINGED INSTRUMENTS LTD
Balance Sheet as at
29 February 2024

Notes

2024

2023

£

£

£

£

Fixed assets
Tangible assets31,6822,057
Investments4105,068104,768
106,750106,825
Current assets
Stocks529,58529,585
Debtors1,8751,875
Cash at bank and on hand7,6175,487
39,07736,947
Creditors amounts falling due within one year6(123,193)(130,782)
Net current assets (liabilities)(84,116)(93,835)
Total assets less current liabilities22,63412,990
Net assets22,63412,990
Capital and reserves
Called up share capital11
Profit and loss account22,63312,989
Shareholders' funds22,63412,990
The financial statements were approved and authorised for issue by the Board of Directors on 27 January 2025, and are signed on its behalf by:
PEDUS, Mark
Director
Registered Company No. 07951580
PRO ARTE STRINGED INSTRUMENTS LTD
Notes to the Financial Statements
for the year ended 29 February 2024

1.Accounting policies
Statutory information
The company is a private company limited by shares and registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.
Statement of compliance
The financial statements have been prepared in accordance with the Companies Act 2006 and FRS 102 The Financial Reporting Standard applicable in the UK and Republic of Ireland including Section 1A Small Entities.
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 policy
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.
Tangible fixed assets and depreciation
All fixed assets are initially recorded at cost. Property, plant and equipment is used in the company's principal activity for the production and supply of goods or for administrative purposes and is stated in the balance sheet under the historic cost model. This model requires the assets to be stated at cost less amounts in respect of depreciation and less any accumulated impairment losses. Depreciation is calculated so as to write off the cost of an asset, less its estimated residual value (which is the expected amount that would currently be obtained from disposal of an asset, after deducting the estimated costs of disposal, if the asset were already of the age and in the condition expected at the end of its useful life), over the useful economic life of the respective asset as follows:

Straight line (years)
Plant and machinery4
Investments
Investments in subsidiaries, associates and joint ventures are measured at cost less any accumulated impairment losses. Listed investments are measured at fair value where the difference between cost and fair value is material. Unlisted investments are measured at fair value unless the value cannot be measured reliably, in which case they are measured at cost less any accumulated impairment losses. Changes in fair value are included in the profit and loss account.
Stocks and work in progress
Stock is valued at the lower of cost and estimated selling price less costs to complete and sell. The cost methodology employed by the entity is the first-in first-out method. Estimated selling price less costs to complete and sell are derived from the selling price which the goods would fetch in an open market transaction with established customers less the costs expected to be incurred to enable the sale to complete. Provision is made for slow-moving and obsolete items of stock. Such provisions are recognised in profit or loss. Work in progress is valued using the percentage of completion method and values are calculated using the lower of cost and estimated selling price less costs to complete and sell. When stocks are sold, the carrying amount of those stocks is recognised as an expense within cost of sales. This takes place in the same period that the associated revenue is recognised.
2.Average number of employees

20242023
Average number of employees during the year11
3.Tangible fixed assets

Land & buildings

Plant & machinery

Total

£££
Cost or valuation
At 01 March 231,6827502,432
At 29 February 241,6827502,432
Depreciation and impairment
At 01 March 23-375375
Charge for year-375375
At 29 February 24-750750
Net book value
At 29 February 241,682-1,682
At 28 February 231,6823752,057
4.Fixed asset investments

Other investments1

Total

££
Cost or valuation
At 01 March 23104,768104,768
Additions300300
At 29 February 24105,068105,068
Net book value
At 29 February 24105,068105,068
At 28 February 23104,768104,768

Notes

1Other investments other than loans
5.Stocks

2024

2023

££
Other stocks29,58529,585
Total29,58529,585
6.Creditors: amounts due within one year

2024

2023

££
Trade creditors / trade payables15,00015,000
Bank borrowings and overdrafts101,839112,009
Taxation and social security5,3932,973
Accrued liabilities and deferred income961800
Total123,193130,782