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ARTINVILLE LIMITED
Unaudited Financial Statements
For The Year Ended 31 October 2024
Contents
Page
Balance Sheet 1—2
Notes to the Financial Statements 3—6
Page 1
Balance Sheet
Registered number: 01528234
2024 2023
Notes £ £ £ £
FIXED ASSETS
Tangible Assets 4 1,315,518 1,288,518
1,315,518 1,288,518
CURRENT ASSETS
Debtors 5 36,137 48,647
Cash at bank and in hand 270,877 291,897
307,014 340,544
Creditors: Amounts Falling Due Within One Year 6 (67,768 ) (106,458 )
NET CURRENT ASSETS (LIABILITIES) 239,246 234,086
TOTAL ASSETS LESS CURRENT LIABILITIES 1,554,764 1,522,604
Creditors: Amounts Falling Due After More Than One Year 7 (636,640 ) (636,640 )
PROVISIONS FOR LIABILITIES
Deferred Taxation 8 (79,796 ) (74,770 )
NET ASSETS 838,328 811,194
CAPITAL AND RESERVES
Called up share capital 9 100 100
Revaluation reserve 11 382,698 360,724
Profit and Loss Account 455,530 450,370
SHAREHOLDERS' FUNDS 838,328 811,194
Page 1
Page 2
For the year ending 31 October 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
The member has not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
These accounts have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.
The company has taken advantage of section 444(1) of the Companies Act 2006 and opted not to deliver to the registrar a copy of the company's Profit and Loss Account.
On behalf of the board
Mr James Leggett
Director
23/07/2025
The notes on pages 3 to 6 form part of these financial statements.
Page 2
Page 3
Notes to the Financial Statements
1. General Information
Artinville Limited is a private company, limited by shares, incorporated in England & wales, registered number 01528234. The registered office is 10 Carlton Close London NW3 7UA.
2. Accounting Policies
2.1. Basis of Preparation of Financial Statements
The financial statements have been prepared under the historical cost convention and in accordance with Financial Reporting Standard 102 section 1A Small Entities "The Financial Reporting Standard applicable in the UK and Republic of Ireland" and the Companies Act 2006.
2.2. Going Concern Disclosure
The directors have not identified any material uncertainties related to events or conditions that may cast significant doubt about the company's ability to continue as a going concern.
2.3. Turnover
Turnover comprises the invoiced value of goods and services supplied by the company, net of Value Added Tax and trade discounts.
2.4. Tangible Fixed Assets and Depreciation
Tangible fixed assets are stated at cost less depreciation. Depreciation is provided at rates calculated to write off the cost of the fixed assets, less their estimated residual value, over their expected useful lives on the following bases: The Director does not consider that amortisation is required in respect of the Leasehold Properties
Freehold 0%
Leasehold 0%
Plant & Machinery Written Off
Motor Vehicles Written Off
Fixtures & Fittings Written Off
Computer Equipment Written Off
2.5. Investment Properties
All investment properties are carried at fair value determined annually and derived from the current market rents and investment property yields for comparable real estate, adjusted if necessary for any difference in the nature, location or condition of the specific asset. No depreciation is provided for. Changes in fair value are recognised in the Profit & Loss Account - Revaluation Account. The Director, after reviewing the market, has arrived at the values in the accounts as at the Balance Sheet Date.
2.6. Taxation
Income tax expense represents the sum of the tax currently payable and deferred tax.
The tax currently payable is based on taxable profit for the year. Taxable profit differs from profit as reported in the statement of comprehensive income because of items of income or expense that are taxable or deductible in other year and items that are never taxable or deductible. The company's liability for current tax is calculated using tax rates that have been enacted or substantively enacted by the end of the reporting period.
Deferred tax is recognised on timing differences between the carrying amounts of assets and liabilities in the financial statements and the corresponding tax bases used in the computation of taxable profit. Deferred tax liabilities are generally recognised for all taxable timing differences. Deferred tax assets are generally recognised for all deductible temporary differences to the extent that it is probable that taxable profits will be available against which those deductible timing differences can be utilised. The carrying amount of deferred tax assets is reviewed at the end of each reporting period and reduced to the extent that it is no longer probable that sufficient taxable profits will be available to allow all or part of the asset to be recovered.
Deferred tax assets and liabilities are measured at the tax rates that are expected to apply in the period in which the liability is settled or the asset realised, based on tax rates (and tax laws) that have been enacted or substantively enacted by the end of the reporting period. Deferred tax liabilities are presented within provisions for liabilities and deferred tax assets within debtors. The measurement of deferred tax liabilities and asset reflects the tax consequences that would follow from the manner in which the Company expects, at the end of the reporting period, to recover or settle the carrying amount of its assets and liabilities.
Current or deferred tax for the year is recognised in profit or loss, except when they related to items that are recognised in other comprehensive income or directly in equity, in which case, the current and deferred tax is also recognised in other comprehensive income or directly in equity respectively.
Deferred Taxation has been provided in respecty of the Revaluation of the Investment Property and calculated as to the Tax that would have been provided for in the accounts as if the Property had been disposed of as at the Year End.
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3. Average Number of Employees
Average number of employees, excluding directors, during the year was: NIL (2023: NIL)
- -
4. Tangible Assets
Land & Property
Freehold Leasehold Plant & Machinery Motor Vehicles
£ £ £ £
Cost or Valuation
As at 1 November 2023 675,000 613,518 47,203 59,723
Revaluation 27,000 - - -
As at 31 October 2024 702,000 613,518 47,203 59,723
Depreciation
As at 1 November 2023 - - 47,203 59,723
As at 31 October 2024 - - 47,203 59,723
Net Book Value
As at 31 October 2024 702,000 613,518 - -
As at 1 November 2023 675,000 613,518 - -
Fixtures & Fittings Computer Equipment Total
£ £ £
Cost or Valuation
As at 1 November 2023 8,195 3,525 1,407,164
Revaluation - - 27,000
As at 31 October 2024 8,195 3,525 1,434,164
Depreciation
As at 1 November 2023 8,195 3,525 118,646
As at 31 October 2024 8,195 3,525 118,646
Net Book Value
As at 31 October 2024 - - 1,315,518
As at 1 November 2023 - - 1,288,518
Page 4
Page 5
Cost or valuation as at 31st October 2023 represented by:
Land & Property
Freehold Leasehold Plant & Machinery Motor Vehicles
£ £ £ £
At cost 702,000 613,518 47,203 59,723
702,000 613,518 47,203 59,723
Fixtures & Fittings Computer Equipment Total
£ £ £
At cost 8,195 3,525 1,434,164
8,195 3,525 1,434,164
5. Debtors
2024 2023
£ £
Due within one year
Trade debtors 938 950
Other debtors 6,688 3,632
Director's loan account - 44,065
Amounts owed by associates 28,511 -
36,137 48,647
6. Creditors: Amounts Falling Due Within One Year
2024 2023
£ £
Trade creditors 34,337 6,683
Corporation tax 7,415 6,804
VAT 565 353
Accruals and deferred income 2,600 2,200
Director's loan account 7,523 -
Amounts owed to joint ventures 15,328 90,418
67,768 106,458
7. Creditors: Amounts Falling Due After More Than One Year
2024 2023
£ £
Amounts owed to joint ventures 636,640 636,640
There is a long term loan from a Joint Venture Partner of £636,640 (2023 - £636,640)
Page 5
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8. Deferred Taxation
The provision for deferred taxation is made up of the effect of Revaluation of Fixed Assets and the impact of Taxation on the revalued Properties should those properties have been sold at the Revalued Values as at Balance Sheet Date
2024 2023
£ £
Other timing differences 79,796 74,770
9. Share Capital
2024 2023
£ £
Allotted, Called up and fully paid 100 100
10. Dividends
2024 2023
£ £
On equity shares:
Interim dividend paid 12,706 -
Final dividend paid 10,000 72,000
22,706 72,000
An Interim Dividend of £12,706 was paid
A Final Dividend of £10,000.00 was paid
11. Reserves
Revaluation Reserve
£
As at 1 November 2023 360,724
Surplus on revaluation 21,974
As at 31 October 2024 382,698
12. Ultimate Controlling Party
The company's ultimate controlling party is Mr J Leggett by virtue of his ownership of 85% of the issued share capital in the company.
Page 6