Artmossphere Ltd
Registered number: 07006042
Statement of Financial Position
as at 30 September 2024
Notes 2024 2023
£ £
Fixed assets
Tangible assets 3 1,850 2,467
Current assets
Debtors 4 1,865 8,214
Cash at bank and in hand 623 3,269
2,488 11,483
Creditors: amounts falling due within one year 5 (6,092) (11,423)
Net current (liabilities)/assets (3,604) 60
Total assets less current liabilities (1,754) 2,527
Creditors: amounts falling due after more than one year 6 (917) (1,925)
Provisions for liabilities (352) (469)
Net (liabilities)/assets (3,023) 133
Capital and reserves
Called up share capital 100 100
Profit and loss account (3,123) 33
Shareholder's funds (3,023) 133
The director is 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 director acknowledges his 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 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 S Moss
Director
Approved by the board on 23 June 2025
Artmossphere Ltd
Notes to the Accounts
for the year ended 30 September 2024
1 Accounting policies
Basis of preparation
The accounts have been prepared under the historical cost convention and in accordance with FRS 102 Section 1a small entities, the financial reporting standard applicable in the UK and the Republic of Ireland.
Going concern
The company had retained losses as at the balance sheet date which were not covered by the share capital of the company. The company is continuing to trade as the director of the company is funding the company in the form of a director’s loan. The director is planning to continue this financial support for the company for the foreseeable future.
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% reducing balance
Debtors
Short term debtors are measured at transaction 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. 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.
2 Employees and directors 2024 2023
Number Number
Average number of directors and persons employed by the company 1 1
3 Tangible fixed assets
Plant and machinery etc
£
Cost
At 1 October 2023 6,762
At 30 September 2024 6,762
Depreciation
At 1 October 2023 4,295
Charge for the year 617
At 30 September 2024 4,912
Net book value
At 30 September 2024 1,850
At 30 September 2023 2,467
4 Debtors 2024 2023
£ £
Trade debtors - 2,507
Other debtors 1,865 5,707
1,865 8,214
5 Creditors: amounts falling due within one year 2024 2023
£ £
Bank loans and overdrafts 1,000 2,000
Trade creditors 322 2,820
Accruals 1,060 1,060
Corporation tax - 3,043
Other creditors 3,710 2,500
6,092 11,423
6 Creditors: amounts falling due after one year 2024 2023
£ £
Bank loans 917 1,925
7 Loans to directors
Description and conditions B/fwd Paid Repaid C/fwd
£ £ £ £
Mr S Moss
Repayable on demand 3,603 - 3,603 -
3,603 - 3,603 -
8 Other information
Artmossphere Ltd is a private company limited by shares and incorporated in England. Its registered office is:
25 Victoria Road
Fleet
Hants
GU51 4DN
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