Acorah Software Products - Accounts Production 16.4.675 false true true 30 April 2023 1 May 2022 false 1 May 2023 30 April 2024 30 April 2024 13335826 Charles Payne Laerke Rindvig false iso4217:GBP iso4217:EUR iso4217:USD xbrli:shares xbrli:pure xbrli:pure 13335826 2023-04-30 13335826 2024-04-30 13335826 2023-05-01 2024-04-30 13335826 frs-core:CurrentFinancialInstruments 2024-04-30 13335826 frs-core:ComputerEquipment 2024-04-30 13335826 frs-core:ComputerEquipment 2023-05-01 2024-04-30 13335826 frs-core:ComputerEquipment 2023-04-30 13335826 frs-core:ShareCapital 2024-04-30 13335826 frs-core:RetainedEarningsAccumulatedLosses 2024-04-30 13335826 frs-bus:PrivateLimitedCompanyLtd 2023-05-01 2024-04-30 13335826 frs-bus:FilletedAccounts 2023-05-01 2024-04-30 13335826 frs-bus:SmallEntities 2023-05-01 2024-04-30 13335826 frs-bus:AuditExempt-NoAccountantsReport 2023-05-01 2024-04-30 13335826 frs-bus:SmallCompaniesRegimeForAccounts 2023-05-01 2024-04-30 13335826 1 2023-05-01 2024-04-30 13335826 frs-bus:Director1 2023-05-01 2024-04-30 13335826 frs-bus:Director2 2023-05-01 2024-04-30 13335826 frs-countries:EnglandWales 2023-05-01 2024-04-30 13335826 2022-04-30 13335826 2023-04-30 13335826 2022-05-01 2023-04-30 13335826 frs-core:CurrentFinancialInstruments 2023-04-30 13335826 frs-core:ShareCapital 2023-04-30 13335826 frs-core:RetainedEarningsAccumulatedLosses 2023-04-30
Registered number: 13335826
Artemis Fine Arts Limited
Unaudited Financial Statements
For The Year Ended 30 April 2024
Contents
Page
Balance Sheet 1
Notes to the Financial Statements 2—5
Page 1
Balance Sheet
Registered number: 13335826
2024 2023
Notes £ £ £ £
FIXED ASSETS
Tangible Assets 4 792 1,188
792 1,188
CURRENT ASSETS
Stocks 5 53,798 53,966
Cash at bank and in hand 799 2,500
54,597 56,466
Creditors: Amounts Falling Due Within One Year 6 (12,144 ) (14,454 )
NET CURRENT ASSETS (LIABILITIES) 42,453 42,012
TOTAL ASSETS LESS CURRENT LIABILITIES 43,245 43,200
NET ASSETS 43,245 43,200
CAPITAL AND RESERVES
Called up share capital 7 100 100
Profit and Loss Account 43,145 43,100
SHAREHOLDERS' FUNDS 43,245 43,200
For the year ending 30 April 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The directors acknowledge their 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
Laerke Rindvig
Director
10/08/2025
The notes on pages 2 to 5 form part of these financial statements.
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Page 2
Notes to the Financial Statements
1. General Information
Artemis Fine Arts Limited is a private company, limited by shares, incorporated in England & Wales, registered number 13335826 . The registered office is Suite 280, 22 Notting Hill Gate, London, W11 3JE.
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 prepared budgets and cash flows for a period of at least twelve months from the date of the approval of the financial statements which demonstrate that there is no material uncertainty regarding the company's ability to meet its liabilities as they fall due, and to continue as a going concern. On this basis the directors consider it appropriate to prepare the financial statements on a going concern basis. Accordingly, these financial statements do not include any adjustments to the carrying amounts and classification of assets and liabilities that may arise if the company was unable to continue as a going concern.continue as a going concern.
2.3. Significant judgements and estimations
The directors consider the accounting estimates and assumptions below to be its critical accounting estimates and judgements:
Impairment of Trade Debtors
The company trades with a varied number of customers on credit terms. Some debts due many not be paid through the default of a small number of customers. The company uses estimates based on historical experience and current information in determining the level of debts for which an impairment charge is required. The level of impairment required is reviewed on an ongoing basis. The total amount of trade debtors is £NIL (2023: £NIL).
Useful Lives of Tangible and Intangible Fixed Assets
Long-lived assets comprising primarily of fixtures and fittings, plant and machinery and motor vehicles represent a significant portion of total assets. The annual depreciation and amortisation charge depends primarily on the estimated lives of each type of asset and, in certain circumstances, estimates of residual values. The directors regularly review these useful lives and change them if necessary to reflect current conditions. In determining these useful lives management consider technological change, patterns of consumption, physical condition and expected economic utilisation of the assets. Changes in the useful lives can have a significant impact on the depreciation and amortisation charge for the financial year. The net book value of Tangible Fixed Assets subject to depreciation at the financial year end date was £792 (2023: €1,188).
2.4. 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 is reduced for estimated customer returns, rebates and other similar allowances.
Sale of goods
Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods has transferred to the buyer. This is usually at the point that the customer has signed for the delivery of the goods.
Rendering of services
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. Turnover is only recognised to the extent of recoverable expenses when the outcome of a contract cannot be estimated reliably.
2.5. Tangible Fixed Assets and Depreciation
Tangible fixed assets are measured at cost less accumulated depreciation and any accumulated impairment losses. 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:
Computer Equipment 20% on cost
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2.6. Leasing and Hire Purchase Contracts
Assets obtained under finance leases are capitalised as tangible fixed assets. Assets acquired under finance leases are depreciated over the shorter of the lease term and their useful lives. Assets acquired under hire purchase contracts are depreciated over their useful lives. Finance leases are those where substantially all of the benefits and risks of ownership are assumed by the company. Obligations under such agreements are included in the creditors net of the finance charge allocated to future periods. The finance element of the rental payment is charged to the profit and loss account so as to produce a constant periodic rate of charge on the net obligation outstanding in each period.
Rentals applicable to operating leases where substantially all of the benefits and risks of ownership remain with the lessor are charged to the profit and loss account as incurred.
2.7. Stocks and Work in Progress
Stocks and work in progress are valued at the lower of cost and net realisable value after making due allowance for obsolete and slow-moving stocks. Cost includes all direct costs and an appropriate proportion of fixed and variable overheads.
2.8. Financial Instruments
Share capital
The ordinary share capital of the company is presented as equity.
Cash and cash equivalents
Cash consists of cash on hand and demand deposits. Cash equivalents consist of short term highly liquid investments that are readily convertible to known amounts of cash that are subject to an insignificant risk of change in value.
Loans and borrowings
All loans made by the company are initially recorded at the amount of cash advanced plus transaction costs incurred, unless the arrangement constitutes, in effect, a financing transaction, in which case it is measured at the present value of future payments discounted at a market rate of interest for a similar debt instrument. Subsequently loans made by the company are stated at amortised cost using the effective interest rate method less impairment, where there is objective evidence of impairment.
All borrowings by the company, with the exception of loans from directors who are natural persons and shareholders in the company (or close members of the family of such persons), are initially recorded at the amount of cash received less separately incurred transaction costs, unless the arrangement constitutes, in effect, a financing transaction, in which case it is measured at the present value of future payments discounted at a market rate of interest for a similar debt instrument. Subsequently, borrowings are stated at amortised cost using the effective interest rate method.
Loans from directors who are natural persons and shareholders in the company (or close members of the family of such persons) are initially measured at transaction price and not discounted on subsequent measurement.
The computation of amortised cost includes any issue costs, transaction costs and fees, and any discount or premium on settlement, and the effect of this is to amortise these amounts over the expected borrowing period. Loans with no stated interest rate and repayable within one year or on demand are not amortised. Loans and borrowings are classified as current assets or liabilities unless the borrower has an unconditional right to defer settlement of the liability for at least twelve months after the financial year end date.
Impairment of financial assets
At the end of each reporting period, the company assesses whether there is objective evidence of impairment of any financial assets that are measured at cost or amortised cost, including unlisted investments, loans, trade debtors and cash. If there is objective evidence of impairment, impairment losses are recognised in the Profit and Loss account in that financial year.
2.9. 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 years 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.
...CONTINUED
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2.9. Taxation - continued
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 assets reflect 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 and deferred tax are recognised in profit or loss for the year, except when they relate to items that are recognised in other comprehensive income or directly in equity, in which case current and deferred tax are recognised in other comprehensive income or directly in equity respectively.
3. Average Number of Employees
Average number of employees, including directors, during the year was: 2 (2023: 2)
2 2
4. Tangible Assets
Computer Equipment
£
Cost
As at 1 May 2023 1,980
As at 30 April 2024 1,980
Depreciation
As at 1 May 2023 792
Provided during the period 396
As at 30 April 2024 1,188
Net Book Value
As at 30 April 2024 792
As at 1 May 2023 1,188
5. Stocks
2024 2023
£ £
Stock 53,798 53,966
6. Creditors: Amounts Falling Due Within One Year
2024 2023
£ £
Other creditors 6,226 4,968
Taxation and social security 5,918 9,486
12,144 14,454
7. Share Capital
2024 2023
£ £
Allotted, Called up and fully paid 100 100
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8. Reserves
Retained Earnings
2024
2023
£
£
At 1 May 
43,100
22,983
Profit for the year
43
20,117
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image

At 30 April
43,143
image
43,100
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9. Controlling Party
In the opinion of the directors, the company is not controlled by any single person.
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