Registered number
06907664
Artisan Plastercraft Limited
Filleted Accounts
31 August 2024
Artisan Plastercraft Limited
Registered number: 06907664
Balance Sheet
as at 31 August 2024
Notes 2024 2023
£ £
Fixed assets
Tangible assets 3 58,759 89,341
Current assets
Stocks 210,000 232,878
Debtors 4 464,234 847,538
Cash at bank and in hand 23,214 1,468
697,448 1,081,884
Creditors: amounts falling due within one year 5 (577,274) (885,090)
Net current assets 120,174 196,794
Total assets less current liabilities 178,933 286,135
Creditors: amounts falling due after more than one year 6 (176,451) (166,176)
Net assets 2,482 119,959
Capital and reserves
Called up share capital 3,000 3,000
Profit and loss account (518) 116,959
Shareholder's funds 2,482 119,959
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 member has 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.
Mr P St John
Director
Approved by the board on 28 April 2025
Artisan Plastercraft Limited
Notes to the Accounts
for the year ended 31 August 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 25% straight line
Motor vehicles 25% straight line
Stocks
Stocks are measured at the lower of cost and estimated selling price less costs to complete and sell. Cost is determined using the first in first out method. The carrying amount of stock sold is recognised as an expense in the period in which the related revenue is recognised.
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.
Taxation
A current tax liability is recognised for the tax payable on the taxable profit of the current and past periods. A current tax asset is recognised in respect of a tax loss that can be carried back to recover tax paid in a previous period. Deferred tax is recognised in respect of all timing differences between the recognition of income and expenses in the financial statements and their inclusion in tax assessments. 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. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date and that are expected to apply to the reversal of the timing difference, except for revalued land and investment property where the tax rate that applies to the sale of the asset is used. Current and deferred tax assets and liabilities are not discounted.
Provisions
Provisions (ie liabilities of uncertain timing or amount) are recognised when there is an obligation at the reporting date as a result of a past event, it is probable that economic benefit will be transferred to settle the obligation and the amount of the obligation can be estimated reliably.
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 0 0
3 Tangible fixed assets
Plant and machinery etc Motor vehicles Total
£ £ £
Cost
At 1 September 2023 18,726 115,455 134,181
At 31 August 2024 18,726 115,455 134,181
Depreciation
At 1 September 2023 13,571 31,269 44,840
Charge for the year 1,718 28,864 30,582
At 31 August 2024 15,289 60,133 75,422
Net book value
At 31 August 2024 3,437 55,322 58,759
At 31 August 2023 5,155 84,186 89,341
4 Debtors 2024 2023
£ £
Trade debtors 335,005 579,394
Amounts owed by group undertakings and undertakings in which the company has a participating interest 116,179 259,500
Other debtors 13,050 8,644
464,234 847,538
5 Creditors: amounts falling due within one year 2024 2023
£ £
Bank loans and overdrafts 280,316 441,837
Obligations under finance lease and hire purchase contracts 10,454 10,454
Trade creditors 118,551 197,787
Amounts owed to group undertakings and undertakings in which the company has a participating interest 70,861 105,262
Taxation and social security costs 81,029 126,662
Other creditors 16,063 3,088
577,274 885,090
6 Creditors: amounts falling due after one year 2024 2023
£ £
Bank loans 108,229 87,500
Obligations under finance lease and hire purchase contracts 68,222 78,676
176,451 166,176
7 Other information
Artisan Plastercraft Limited is a private company limited by shares and incorporated in England. Its registered office is:
Holmshaw Farm
Layhams Road
Keston
Kent
BR2 6AR
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