Company registration number 14771490 (England and Wales)
COMMERCIAL ARTISTS LIMITED
UNAUDITED FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 31 MAY 2025
PAGES FOR FILING WITH REGISTRAR
COMMERCIAL ARTISTS LIMITED
CONTENTS
Page
Balance sheet
1
Notes to the financial statements
2 - 3
COMMERCIAL ARTISTS LIMITED
BALANCE SHEET
- 1 -
31 May 2025
31 March 2024
Notes
£
£
£
£
Fixed assets
Tangible assets
3
3,969
Current assets
Debtors
584
1,274
Cash at bank and in hand
12,637
35,744
13,221
37,018
Creditors: amounts falling due within one year
(13,121)
(33,375)
Net current assets
100
3,643
Net assets
100
7,612
Capital and reserves
Called up share capital
100
100
Profit and loss reserves
7,512
Total equity
100
7,612
For the financial period ended 31 May 2025 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 of its financial statements for the period in question in accordance with section 476.
The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.
These 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, all of the members of the company have consented to the preparation of abridged financial statements pursuant to paragraph 1A of Schedule 1 to the Small Companies and Groups (Accounts and Directors’ Report) Regulations (SI 2008/409)(b).
The directors of the company have elected not to include a copy of the profit and loss account within the financial statements.true
The financial statements were approved by the board of directors and authorised for issue on 19 August 2025 and are signed on its behalf by:
Mr JR Fleming
Mr AS Kalsi
Director
Director
Company registration number 14771490 (England and Wales)
COMMERCIAL ARTISTS LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 31 MAY 2025
- 2 -
1
Accounting policies
Company information
Commercial Artists Limited is a private company limited by shares incorporated in England and Wales. The registered office is Hilton Consulting, Canalot Studios, 222 Kensal Road, London, W10 5BN.
1.1
Reporting period
These accounts are prepared for the extended period of 1 April 2024 to 31 May 2025
1.2
Accounting convention
These financial statements have been prepared in accordance with FRS 102 “The Financial Reporting Standard applicable in the UK and Republic of Ireland” (“FRS 102”) and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime. The disclosure requirements of section 1A of FRS 102 have been applied other than where additional disclosure is required to show a true and fair view.
The financial statements are prepared in sterling, which is the functional currency of the company. Monetary amounts in these financial statements are rounded to the nearest £.
The financial statements have been prepared under the historical cost convention. The principal accounting policies adopted are set out below.
1.3
Turnover
Turnover is recognised at the fair value of the consideration received or receivable for services provided in the normal course of business, and is shown net of VAT and other sales related taxes. The fair value of consideration takes into account trade discounts, settlement discounts and volume rebates.
1.4
Tangible fixed assets
Tangible fixed assets are initially measured at cost and subsequently measured at cost or valuation, net of depreciation and any impairment losses.
Depreciation is recognised so as to write off the cost or valuation of assets less their residual values over their useful lives on the following bases:
Fixtures and fittings
5 years straight line
Computers
5 years straight line
The gain or loss arising on the disposal of an asset is determined as the difference between the sale proceeds and the carrying value of the asset, and is credited or charged to profit or loss.
1.5
Cash and cash equivalents
Cash and cash equivalents are basic financial assets and include cash in hand, deposits held at call with banks, other short-term liquid investments with original maturities of three months or less, and bank overdrafts. Bank overdrafts are shown within borrowings in current liabilities.
1.6
Taxation
The tax expense represents the tax currently payable.
Current tax
The tax currently payable is based on taxable profit for the year. Taxable profit differs from net profit as reported in the profit and loss account because it excludes items of income or expense that are taxable or deductible in other years and it further excludes 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 reporting end date.
COMMERCIAL ARTISTS LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE PERIOD ENDED 31 MAY 2025
- 3 -
2
Employees
The average monthly number of persons (including directors) employed by the company during the period was:
2025
2024
Number
Number
Total
2
2
3
Tangible fixed assets
Fixtures and fittings
Computers
Total
£
£
£
Cost
At 1 April 2024
3,982
800
4,782
Disposals
(3,982)
(800)
(4,782)
At 31 May 2025
Depreciation and impairment
At 1 April 2024
693
120
813
Depreciation charged in the period
929
187
1,116
Eliminated in respect of disposals
(1,622)
(307)
(1,929)
At 31 May 2025
Carrying amount
At 31 May 2025
At 31 March 2024
3,289
680
3,969