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ASSET ARTS LTD - Company Information

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Draft

Asset Arts Ltd

Registered Number:09461922

For the year ended 28 February 2023

England and Wales

Amended Report of the Directors and Unaudited Financial Statements

Draft

For the year ended 28 February 2023

Asset Arts Ltd

Contents Page

Statement of Financial Position

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Notes to the Financial Statements

Draft

Registered Number :

09461922

As at 28 February 2023

Asset Arts Ltd

Statement of Financial Position

2022

2023

Notes

Fixed assets

Property, plant and equipment

24,666

33,179

24,666

33,179

Current assets

Inventories

56,802

Trade and other receivables

1,742,324

2,130,564

31,506

Cash and cash equivalents

83,694

2,271,060

1,830,632

Trade and other payables: amounts falling due within one

year

(1,753,364)

(1,950,295)

77,268

320,765

Net current assets

Total assets less current liabilities

345,431

110,447

Trade and other payables: amounts falling due after more

than one year

(19,706)

(13,657)

(6,166)

(6,304)

Provisions for liabilities

325,608

Net assets

84,437

Capital and reserves

Called up share capital

Retained earnings

325,606

84,435

325,608

84,437

Shareholders' funds

For the year ended 28 February 2023 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 2023 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.

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Draft

Registered Number :

09461922

For the year ended 28 February 2023

Asset Arts Ltd

Statement of Financial Position Continued

Mr James Edward Enright Director

These financial statements were approved and authorised for issue by the Board on 07 December 2023 and were signed by:

The notes form part of these financial statements

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Draft

For the year ended 28 February 2023

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

25% Reducing balance

Motor Vehicles

60 months Straight line

Furniture and Fittings

2. Property, plant and equipment

Total

Computer

Equipment

Furniture and

Fittings

Motor

Vehicles

Plant and

Machinery

Cost or

valuation

At 01 March 2022

54,656

7,339

3,567

25,250

18,500

4,142

Additions

At 28 February 2023

25,250

3,567

11,481

58,798

18,500

Provision for depreciation and impairment

At 01 March 2022

21,477

2,910

1,905

6,312

10,350

Charge for year

12,655

3,507

713

4,735

3,700

At 28 February 2023

34,132

6,417

2,618

11,047

14,050

At 28 February 2023

Net book value

4,450

14,203

949

5,064

24,666

At 28 February 2022

8,150

18,938

1,662

4,429

33,179

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Draft

For the year ended 28 February 2023

Asset Arts Ltd

Notes to the Financial Statements Continued

3. Inventories

2022

2023

Stocks

56,802

4. Trade and other receivables

2022

2023

Trade debtors

433,912

797,387

Amounts owed by group undertakings and participating interests

22,000

Other debtors

1,674,652

922,937

1,742,324

2,130,564

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

2022

2023

Trade creditors

454,106

184,395

Taxation and social security

91,443

278,226

Other creditors

1,404,746

1,290,743

1,950,295

1,753,364

6. Trade and other payables: amounts falling due after more than one year

2022

2023

Other creditors

13,657

19,706

7. Average number of persons employed

During the year the average number of employees was 13 (2022 : 6)

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