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REGISTERED NUMBER: 03752703 (England and Wales)









Unaudited Financial Statements

for the Year Ended 30 September 2024

for

THE INSTITUTE OF ART AND LAW LIMITED

THE INSTITUTE OF ART AND LAW LIMITED (REGISTERED NUMBER: 03752703)

Contents of the Financial Statements
FOR THE YEAR ENDED 30 SEPTEMBER 2024










Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 3


THE INSTITUTE OF ART AND LAW LIMITED

Company Information
FOR THE YEAR ENDED 30 SEPTEMBER 2024







DIRECTORS: Mrs R Redmond-Cooper
E K Marriott





SECRETARY: Ms J C Crabtree





REGISTERED OFFICE: Pentre Moel
Crickadarn
Builth Wells
Powys
LD2 3BX





REGISTERED NUMBER: 03752703 (England and Wales)





ACCOUNTANT: N E Sears ATT
NESTAX Limited
9 Church Street
Builth Wells
Powys
LD2 3AP

THE INSTITUTE OF ART AND LAW LIMITED (REGISTERED NUMBER: 03752703)

Balance Sheet
30 SEPTEMBER 2024

2024 2023
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 952 1,173

CURRENT ASSETS
Stocks 5,000 5,000
Debtors 5 29,255 29,020
Cash at bank 257,604 268,178
291,859 302,198
CREDITORS
Amounts falling due within one year 6 123,708 131,221
NET CURRENT ASSETS 168,151 170,977
TOTAL ASSETS LESS CURRENT
LIABILITIES

169,103

172,150

CAPITAL AND RESERVES
Called up share capital 1 1
Retained earnings 169,102 172,149
169,103 172,150

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30 September 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 30 September 2024 in accordance with Section 476 of the Companies Act 2006.

The directors acknowledge their 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 Income Statement has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 13 March 2025 and were signed on its behalf by:





Mrs R Redmond-Cooper - Director


THE INSTITUTE OF ART AND LAW LIMITED (REGISTERED NUMBER: 03752703)

Notes to the Financial Statements
FOR THE YEAR ENDED 30 SEPTEMBER 2024


1. STATUTORY INFORMATION

The Institute of Art and Law Limited is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.

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 at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Fixtures and fittings - 15% on reducing balance
Computer equipment - 33% on reducing balance

Stocks
Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.

Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Income Statement, except to the extent that it relates to items recognised in other comprehensive income or directly in equity.

Current or deferred taxation assets and liabilities are not discounted.

Current tax is recognised at the amount of tax payable using the tax rates and laws that have been enacted or substantively enacted by the balance sheet date.

Deferred tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date.

Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from those in which they are recognised in financial statements. Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the year end and that are expected to apply to the reversal of the timing difference.

Unrelieved tax losses and other deferred tax assets are recognised only to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits.

Pension costs and other post-retirement benefits
The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 5 (2023 - 5 ) .

THE INSTITUTE OF ART AND LAW LIMITED (REGISTERED NUMBER: 03752703)

Notes to the Financial Statements - continued
FOR THE YEAR ENDED 30 SEPTEMBER 2024


4. TANGIBLE FIXED ASSETS
Fixtures
and Computer
fittings equipment Totals
£    £    £   
COST
At 1 October 2023
and 30 September 2024 5,335 5,028 10,363
DEPRECIATION
At 1 October 2023 4,409 4,781 9,190
Charge for year 139 82 221
At 30 September 2024 4,548 4,863 9,411
NET BOOK VALUE
At 30 September 2024 787 165 952
At 30 September 2023 926 247 1,173

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Trade debtors 28,646 28,241
Other debtors 609 779
29,255 29,020

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Trade creditors 66,168 82,685
Taxation and social security 24,457 21,836
Other creditors 33,083 26,700
123,708 131,221