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REGISTERED NUMBER: 08055550 (England and Wales)















Art Masters Design Solutions Ltd

Unaudited Financial Statements

for the Year Ended 31 August 2024






Art Masters Design Solutions Ltd (Registered number: 08055550)

Contents of the Financial Statements
for the year ended 31 August 2024










Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 3


Art Masters Design Solutions Ltd

Company Information
for the year ended 31 August 2024







Director: P D Lent





Registered office: 113 Sunny Gardens Road
London
NW4 1SH





Registered number: 08055550 (England and Wales)





Accountants: Cooper Parry Advisory Limited
New Derwent House
69-73 Theobalds Road
London
WC1X 8TA

Art Masters Design Solutions Ltd (Registered number: 08055550)

Balance Sheet
31 August 2024

2024 2023
Notes £ £ £
Fixed assets
Tangible assets 4 998 1,065

Current assets
Stocks 105,294 103,324
Debtors 5 1,604 1,271
Cash at bank and in hand 6,143 30,200
113,041 134,795
Creditors
Amounts falling due within one year 6 145,285 143,967
Net current liabilities (32,244 ) (9,172 )
Total assets less current liabilities (31,246 ) (8,107 )

Creditors
Amounts falling due after more than one
year

7

42,500

30,500
Net liabilities (73,746 ) (38,607 )

Capital and reserves
Called up share capital 8 1 1
Retained earnings 9 (73,747 ) (38,608 )
Shareholders' funds (73,746 ) (38,607 )

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

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

The director acknowledges her 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 director and authorised for issue on 28 May 2025 and were signed by:





P D Lent - Director


Art Masters Design Solutions Ltd (Registered number: 08055550)

Notes to the Financial Statements
for the year ended 31 August 2024


1. Statutory information

Art Masters Design Solutions Ltd 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.

Going concern
Following the emergence and spread of the coronavirus (COVID-19) as well as its financial effects on business's worldwide the director has considered its effects on the business of the company and believes there are sufficient funds available for the business to continue as a going concern.

The company meets its day to day working capital requirements through the support of the directors and shareholders of the company. On this basis, the directors consider it appropriate to prepare the financial statements on the going concern basis.

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.
Computer equipment - 25% on cost

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 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 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.

Hire purchase and leasing commitments
Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease.

Going concern
The company meets its day to day working capital requirements through the support of the directors and shareholders of the company. On this basis, the directors consider it appropriate to prepare the financial statements on the going concern basis.

3. Employees and directors

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

Art Masters Design Solutions Ltd (Registered number: 08055550)

Notes to the Financial Statements - continued
for the year ended 31 August 2024


4. Tangible fixed assets
Computer
equipment
£
Cost
At 1 September 2023 3,669
Additions 1,133
At 31 August 2024 4,802
Depreciation
At 1 September 2023 2,604
Charge for year 1,200
At 31 August 2024 3,804
Net book value
At 31 August 2024 998
At 31 August 2023 1,065

5. Debtors: amounts falling due within one year
2024 2023
£ £
Trade debtors 80 80
Other debtors 1,524 1,191
1,604 1,271

6. Creditors: amounts falling due within one year
2024 2023
£ £
Trade creditors 517 1,344
Taxation and social security - 4,883
Other creditors 144,768 137,740
145,285 143,967

7. Creditors: amounts falling due after more than one year
2024 2023
£ £
Other creditors 42,500 30,500

8. Called up share capital

Allotted, issued and fully paid:
Number: Class: Nominal 2024 2023
value: £ £
1 Ordinary £1 1 1

Art Masters Design Solutions Ltd (Registered number: 08055550)

Notes to the Financial Statements - continued
for the year ended 31 August 2024


9. Reserves
Retained
earnings
£

At 1 September 2023 (38,608 )
Deficit for the year (35,139 )
At 31 August 2024 (73,747 )

10. Related party disclosures

Included in other creditors is £143,526 (2023: £136,474) owed to director.

Included in long term other creditors is £42,500 (2023: £30,500) owed to related party.