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Registration number: 12323952

Artero UK Ltd

Unaudited Filleted Financial Statements

for the Year Ended 30 November 2024

 

Artero UK Ltd

Contents

Company Information

1

Balance Sheet

2 to 3

Notes to the Unaudited Financial Statements

4 to 9

 

Artero UK Ltd

Company Information

Directors

E A Abellan

A A Abellan

Company secretary

J Oriol

C A Macdonald

Registered office

Crown Berger Unit 18 Crown Berger Unit 18 /ringway
Industrial Estate
Beck Road
Huddersfield
HD1 5DG

 

Artero UK Ltd

(Registration number: 12323952)
Balance Sheet as at 30 November 2024

Note

2024
£

2023
£

Fixed assets

 

Intangible assets

4

33,724

33,724

Tangible assets

5

42,585

38,046

 

76,309

71,770

Current assets

 

Stocks

6

267,409

301,000

Debtors

7

35,602

14,477

Cash at bank and in hand

 

97,452

269,339

 

400,463

584,816

Creditors: Amounts falling due within one year

8

(502,132)

(618,766)

Net current liabilities

 

(101,669)

(33,950)

Total assets less current liabilities

 

(25,360)

37,820

Provisions for liabilities

-

(6,977)

Net (liabilities)/assets

 

(25,360)

30,843

Capital and reserves

 

Called up share capital

100

100

Retained earnings

(25,460)

30,743

Shareholders' (deficit)/funds

 

(25,360)

30,843

 

Artero UK Ltd

(Registration number: 12323952)
Balance Sheet as at 30 November 2024

For the financial year ending 30 November 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Directors' responsibilities:

The members have not required the company to obtain an audit of its accounts for the year in question in accordance with section 476; and

The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime. As permitted by section 444 (5A) of the Companies Act 2006, the directors have not delivered to the registrar a copy of the Profit and Loss Account.

Approved and authorised by the Board on 26 August 2025 and signed on its behalf by:
 

.........................................
E A Abellan
Director

   
     
 

Artero UK Ltd

Notes to the Unaudited Financial Statements for the Year Ended 30 November 2024

1

General information

The company is a private company limited by share capital, incorporated in England and Wales.

The address of its registered office is:
Crown Berger Unit 18 Crown Berger Unit 18 /ringway
Industrial Estate
Beck Road
Huddersfield
HD1 5DG
United Kingdom

These financial statements were authorised for issue by the Board on 26 August 2025.

2

Accounting policies

Summary of significant accounting policies and key accounting estimates

The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.

Statement of compliance

These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A smaller entities - 'The Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland' and the Companies Act 2006 (as applicable to companies subject to the small companies' regime).

Basis of preparation

These financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.

Revenue recognition

Turnover comprises the fair value of the consideration received or receivable for the sale of goods and provision of services in the ordinary course of the company’s activities. Turnover is shown net of sales/value added tax, returns, rebates and discounts.

The company recognises revenue when:
The amount of revenue can be reliably measured;
it is probable that future economic benefits will flow to the entity;
and specific criteria have been met for each of the company's activities.

Foreign currency transactions and balances

Transactions in foreign currencies are initially recorded at the functional currency rate prevailing at the date of the transaction. Monetary assets and liabilities denominated in foreign currencies are retranslated into the respective functional currency of the entity at the rates prevailing on the reporting period date. Non-monetary items carried at fair value that are denominated in foreign currencies are retranslated at the rate on the date when the fair value is re-measured.

Non-monetary items measured in terms of historical cost in a foreign currency are not retranslated.

 

Artero UK Ltd

Notes to the Unaudited Financial Statements for the Year Ended 30 November 2024

Tax

The tax expense for the period comprises deferred tax. Tax is recognised in profit or loss, except that a change attributable to an item of income or expense recognised as other comprehensive income is also recognised directly in other comprehensive income.

Deferred tax is recognised in respect of all timing differences between taxable profits and profits reported in the financial statements.

Unrelieved tax losses and other deferred tax assets are recognised when 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.

Tangible assets

Tangible assets are stated in the balance sheet at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.

The cost of tangible assets includes directly attributable incremental costs incurred in their acquisition and installation.

Depreciation

Depreciation is charged so as to write off the cost of assets, other than land and properties under construction over their estimated useful lives, as follows:

Asset class

Depreciation method and rate

Plant and machinery

15% reducing balance

Fixtures and fittings

25% reducing balance

Office equipment

33% straight line

Amortisation

Amortisation is provided on intangible assets so as to write off the cost, less any estimated residual value, over their useful life as follows:

Asset class

Amortisation method and rate

Computer software

No amortisation applied

Cash and cash equivalents

Cash and cash equivalents comprise cash on hand and call deposits, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value.

Trade debtors

Trade debtors are amounts due from customers for merchandise sold or services performed in the ordinary course of business.

Trade debtors are recognised initially at the transaction price. They are subsequently measured at amortised cost using the effective interest method, less provision for impairment. A provision for the impairment of trade debtors is established when there is objective evidence that the company will not be able to collect all amounts due according to the original terms of the receivables.

 

Artero UK Ltd

Notes to the Unaudited Financial Statements for the Year Ended 30 November 2024

Stocks

Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell. Cost is determined using the first-in, first-out (FIFO) method.

The cost of finished goods and work in progress comprises direct materials and, where applicable, direct labour costs and those overheads that have been incurred in bringing the inventories to their present location and condition. At each reporting date, stocks are assessed for impairment. If stocks are impaired, the carrying amount is reduced to its selling price less costs to complete and sell; the impairment loss is recognised immediately in profit or loss.

Trade creditors

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Accounts payable are classified as current liabilities if the company does not have an unconditional right, at the end of the reporting period, to defer settlement of the creditor for at least twelve months after the reporting date. If there is an unconditional right to defer settlement for at least twelve months after the reporting date, they are presented as non-current liabilities.

Trade creditors are recognised initially at the transaction price and subsequently measured at amortised cost using the effective interest method.

Share capital

Ordinary shares are classified as equity. Equity instruments are measured at the fair value of the cash or other resources received or receivable, net of the direct costs of issuing the equity instruments. If payment is deferred and the time value of money is material, the initial measurement is on a present value basis.

Defined contribution pension obligation

A defined contribution plan is a pension plan under which fixed contributions are paid into a pension fund and the company has no legal or constructive obligation to pay further contributions even if the fund does not hold sufficient assets to pay all employees the benefits relating to employee service in the current and prior periods.

Contributions to defined contribution plans are recognised as employee benefit expense when they are due. If contribution payments exceed the contribution due for service, the excess is recognised as a prepayment.

3

Staff numbers

The average number of persons employed by the company (including directors) during the year, was 5 (2023 - 3).

 

Artero UK Ltd

Notes to the Unaudited Financial Statements for the Year Ended 30 November 2024

4

Intangible assets

Internally generated software development costs
 £

Total
£

Cost or valuation

At 1 December 2023

33,724

33,724

At 30 November 2024

33,724

33,724

Amortisation

Carrying amount

At 30 November 2024

33,724

33,724

At 30 November 2023

33,724

33,724

 

Artero UK Ltd

Notes to the Unaudited Financial Statements for the Year Ended 30 November 2024

5

Tangible assets

Fixtures and fittings
£

Plant and machinery
£

Office equipment
£

Total
£

Cost or valuation

At 1 December 2023

40,867

16,537

4,521

61,925

Additions

18,316

-

394

18,710

At 30 November 2024

59,183

16,537

4,915

80,635

Depreciation

At 1 December 2023

15,239

5,707

2,933

23,879

Charge for the year

10,986

1,624

1,561

14,171

At 30 November 2024

26,225

7,331

4,494

38,050

Carrying amount

At 30 November 2024

32,958

9,206

421

42,585

At 30 November 2023

25,628

10,830

1,588

38,046

6

Stocks

2024
£

2023
£

Other inventories

267,409

301,000

7

Debtors

Current

2024
£

2023
£

Trade debtors

8,226

14,477

Other debtors

27,376

-

 

35,602

14,477

 

Artero UK Ltd

Notes to the Unaudited Financial Statements for the Year Ended 30 November 2024

8

Creditors

Creditors: amounts falling due within one year

Note

2024
£

2023
£

Due within one year

 

Trade creditors

 

332,077

501,293

Amounts owed to group undertakings and undertakings in which the company has a participating interest

79,530

89,082

Taxation and social security

 

26,172

25,144

Accruals and deferred income

 

61,552

42

Other creditors

 

2,801

3,205

 

502,132

618,766