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Asset Arts Ltd

Registered Number:09461922

For the year ended 28 February 2021

England and Wales

Unaudited Financial Statements

For the year ended 28 February 2021

Asset Arts Ltd

Contents Page

Statement of Financial Position

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Notes to the Financial Statements

Registered Number :

09461922

As at 28 February 2021

Asset Arts Ltd

Statement of Financial Position

2020

2021

Notes

Fixed assets

Property, plant and equipment

14,640

19,390

14,640

19,390

Current assets

Inventories

56,802

Trade and other receivables

23,354

152,062

361,397

Cash and cash equivalents

51,725

260,589

441,553

Trade and other payables: amounts falling due within one

year

(264,166)

(145,635)

177,387

114,954

Net current assets

Total assets less current liabilities

129,594

196,777

(2,781)

(3,684)

Provisions for liabilities

126,813

Net assets

193,093

Capital and reserves

Called up share capital

Retained earnings

126,811

193,091

126,813

193,093

Shareholders' funds

For the year ended 28 February 2021 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 year ended 28 February 2021 in accordance with Section 476 of the Companies Act 2006

The director acknowledges his responsibilities for:a) ensuring that the company keeps proper accounting records which comply with Sections 386 and 387 of the Companies Act 2006 and

b) preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of

each financial year and of its profit or loss for each financial year in accordance with the requirements of Section

394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial

statements, so far as applicable to the company.

In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered.

The financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

Mr James Edward Enright Director

These financial statements were approved and authorised for issue by the Board on 22 October 2021 and were signed by:

The notes form part of these financial statements

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For the year ended 28 February 2021

Asset Arts Ltd

Notes to the Financial Statements

Statutory Information

Asset Arts Ltd is a private limited company, limited by shares, domiciled in England and Wales, registration number

09461922.

Registered address:

ACS Accounting

Suite 3 Market House

19-21 Market Place

Wokingham

RG40 1AP

The presentation currency is £ sterling.

1. Accounting policies

Basis of preparing the financial statements

These financial statements have been prepared in accordance with the provisions of Section 1A of Financial

Reporting Standard 102 ''The Financial Reporting Standard applicable in the UK and Republic of Ireland'' and the

Companies Act 2006. The financial statements have been prepared under the historical costs convention as

modified by the revaluation of certain assets.

Goodwill

Goodwill, being the amount paid in connection with the acquisition of a business in 2017, is being amortised evenly over its estimated useful life of 10 years.

Property, plant and equipment

Property, plant and equipment, other than freehold land, are stated at cost or valuation less depreciation and any provision for impairment. Depreciation is provided at rates calculated to write off the cost or valuation of fixed assets, less their estimated residual value, over their expected useful lives on the following basis:

Plant and Machinery

60 months Straight line

36 months Straight line

Computer Equipment

60 months Straight line

Furniture and Fittings

2. Property, plant and equipment

Total

Computer

Equipment

Furniture and

Fittings

Plant and

Machinery

Cost or

valuation

At 01 March 2020

23,335

1,268

3,567

18,500

At 28 February 2021

18,500

3,567

1,268

23,335

Provision for depreciation and impairment

At 01 March 2020

3,945

517

478

2,950

Charge for year

4,750

336

714

3,700

At 28 February 2021

8,695

853

1,192

6,650

At 28 February 2021

Net book value

11,850

2,375

415

14,640

At 29 February 2020

15,550

3,089

751

19,390

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For the year ended 28 February 2021

Asset Arts Ltd

Notes to the Financial Statements Continued

3. Inventories

2020

2021

Stocks

56,802

4. Trade and other receivables

2020

2021

Trade debtors

30,000

Amounts owed by group undertakings and participating interests

20,000

17,600

Other debtors

102,062

5,754

23,354

152,062

5. Trade and other payables: amounts falling due within one year

2020

2021

Trade creditors

25,463

2,107

Taxation and social security

118,099

106,153

Other creditors

2,073

155,906

145,635

264,166

6. Average number of persons employed

During the year the average number of employees was 4 (2020 : 3)

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