THE ARTIFECT LIMITED - Filleted accounts

THE ARTIFECT LIMITED - Filleted accounts

THE ARTIFECT LIMITED - Company Information

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Registered number
11478273
THE ARTIFECT LIMITED
Filleted Accounts
31 July 2019
THE ARTIFECT LIMITED
Registered number: 11478273
Balance Sheet
as at 31 July 2019
Notes 2019
£
Current assets
Debtors 2 5,625
Cash at bank and in hand 1,508
7,133
Creditors: amounts falling due within one year 3 (4,415)
Net current assets 2,718
Net assets 2,718
Capital and reserves
Called up share capital 1
Profit and loss account 2,717
Shareholder's funds 2,718
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 her 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 and delivered 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.
K Goodwin
Director
Approved by the board on 11 November 2019
THE ARTIFECT LIMITED
Notes to the Accounts
for the period from 23 July 2018 to 31 July 2019
1 Accounting policies
Basis of preparation
The accounts have been prepared under the historical cost convention and in accordance with FRS 102, The Financial Reporting Standard applicable in the UK and Republic of Ireland (as applied to small entities by section 1A of the standard).
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.
Debtors
Short term debtors are measured at transaction price (which is usually the invoice 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 (which is usually the invoice 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.
2 Debtors 2019
£
Other debtors 5,625
3 Creditors: amounts falling due within one year 2019
£
Taxation and social security costs 3,710
Other creditors 705
4,415
4 Other information
THE ARTIFECT LIMITED is a private company limited by shares and incorporated in England. Its registered office is:
121a Upper Tollington Park
Finsbury Park
London
N4 4ND
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