Company Registration No. 2491685 (England and Wales)
Arts Factory Ltd
Unaudited accounts
for the year ended 31 December 2017
Arts Factory Ltd
Unaudited accounts
Contents
Arts Factory Ltd
Company Information
for the year ended 31 December 2017
Directors
Ms A Evans
Mr S Addison
Mr BJ Triggs
Ms S Pope
Mr MH Bryan
Company Number
2491685 (England and Wales)
Registered Office
Trerhondda Chapel
The Strand
Ferndale
CF43 4LY
Accountants
Arian Accountants Limited
19 Sundew Close
Radyr Cheyne
Cardiff
CF5 2SE
Arts Factory Ltd
Statement of financial position
as at
31 December 2017
Tangible assets
252,648
253,529
Cash at bank and in hand
43,714
35,854
Creditors: amounts falling due within one year
(42,944)
(71,356)
Net current assets/(liabilities)
11,489
(19,582)
Total assets less current liabilities
264,137
233,947
Creditors: amounts falling due after more than one year
(90,240)
(112,941)
Net assets
173,897
121,006
Profit and loss account
173,897
121,006
Members' funds
173,897
121,006
For the year ending 31 December 2017 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 in accordance with section 476 of the Companies Act 2006.
The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
These accounts have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with the provisions of FRS 102 Section 1A - Small Entities. The profit and loss account has not been delivered to the Registrar of Companies.
Approved by the Board on 26 February 2018.
Mr MH Bryan
Director
Company Registration No. 2491685
Arts Factory Ltd
Notes to the Accounts
for the year ended 31 December 2017
Arts Factory Ltd is a private company, limited by guarantee, registered in England and Wales, registration number 2491685. The registered office is Trerhondda Chapel, The Strand, Ferndale, CF43 4LY.
2
Compliance with accounting standards
The accounts have been prepared in accordance with the provisions of FRS 102 Section 1A Small Entities. There were no material departures from that standard.
The principal accounting policies adopted in the preparation of the financial statements are set out below and have remained unchanged from the previous year, and also have been consistently applied within the same accounts.
The accounts have been prepared under the historical cost convention as modified by the revaluation of certain fixed assets.
The accounts are presented in £ sterling.
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. Turnover from the sale of goods is recognised when goods have been delivered to customers such that risks and rewards of ownership have transferred to them. 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.
Tangible fixed assets and depreciation
Tangible assets are included at cost less depreciation and impairment. Depreciation has been provided at the following rates in order to write off the assets over their estimated useful lives:
Motor vehicles
25% on cost
Computer equipment
25% on cost
The company operates a defined contribution scheme for the benefit of its employees. Contributions payable are recognised in the profit and loss account when due.
Arts Factory Ltd
Notes to the Accounts
for the year ended 31 December 2017
4
Tangible fixed assets
Land & buildings
Motor vehicles
Computer equipment
Total
Cost or valuation
At cost
At cost
At cost
At 1 January 2017
371,153
1,250
85,819
458,222
At 31 December 2017
371,153
1,250
85,819
458,222
At 1 January 2017
121,153
312
83,228
204,693
Charge for the year
-
234
647
881
At 31 December 2017
121,153
546
83,875
205,574
At 31 December 2017
250,000
704
1,944
252,648
At 31 December 2016
250,000
938
2,591
253,529
Trade debtors
8,466
15,306
6
Creditors: amounts falling due within one year
2017
2016
Bank loans and overdrafts
6,500
5,000
Obligations under finance leases and hire purchase contracts
-
383
Trade creditors
13,764
30,155
Taxes and social security
1,444
2,110
Other creditors
8,444
8,193
Deferred income
10,292
20,891
7
Creditors: amounts falling due after more than one year
2017
2016
Other creditors
11,603
19,697
Deferred income
3,333
10,000
8
Company limited by guarantee
The company is limited by guarantee and has no share capital.
Every member of the company undertakes to contribute to the assets of the company, in the event of a winding up, such an amount as may be required not exceeding £1.
Arts Factory Ltd
Notes to the Accounts
for the year ended 31 December 2017
9
Average number of employees
During the year the average number of employees was 3 (2016: 2).