Company Registration No. 09422645 (England and Wales)
ARTEZ LIVING LTD
UNAUDITED ABBREVIATED FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 NOVEMBER 2016
ARTEZ LIVING LTD
CONTENTS
Page
Abbreviated balance sheet
1
Notes to the abbreviated accounts
2 - 3
ARTEZ LIVING LTD
ABBREVIATED BALANCE SHEET
AS AT
30 NOVEMBER 2016
30 November 2016
- 1 -
2016
2015
Notes
£
£
£
£
Fixed assets
Tangible assets
2
319
-
Current assets
Debtors
67,729
172,240
Cash at bank and in hand
1,114
21,493
68,843
193,733
Creditors: amounts falling due within one year
(69,062)
(194,777)
Net current liabilities
(219)
(1,044)
Total assets less current liabilities
100
(1,044)
Capital and reserves
Called up share capital
3
100
100
Profit and loss account
-
(1,144)
Shareholders' funds
100
(1,044)
For the financial year ended 30 November 2016 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
Director's responsibilities:
-
The members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476;
-
The director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements.
These abbreviated financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies' regime.
Approved by the Board for issue on 5 May 2017
M P Banton
Director
Company Registration No. 09422645
ARTEZ LIVING LTD
NOTES TO THE ABBREVIATED ACCOUNTS
FOR THE YEAR ENDED 30 NOVEMBER 2016
- 2 -
1
Accounting policies
1.1
Accounting convention
The financial statements are prepared under the historical cost convention and in accordance with the Financial Reporting Standard for Smaller Entities (effective January 2015).
1.2
Turnover
Turnover represents amounts receivable for goods and services net of VAT and trade discounts.
1.3
Tangible fixed assets and depreciation
Tangible fixed assets are stated at cost less depreciation. Depreciation is provided at rates calculated to write off the cost less estimated residual value of each asset over its expected useful life, as follows:
Fixtures, fittings & equipment
20% straight line
1.4
Long term contracts
Amounts recoverable on long term contracts, which are included in debtors, are stated at the net sales value of the work done after provision for contingencies and anticipated future losses on contracts, less amounts received as progress payments on account. Excess progress payments are included in creditors as payments on account.
1.5
Deferred taxation
Deferred taxation is recognised in respect of all timing differences which have originated but not reversed at the balance sheet date. Timing differences are differences between taxable profits and the results as stated in the financial statements which arise from the inclusion of gains and losses in tax assessments in periods different from those in which they are recognised for tax purposes.
Deferred tax is measured at the average tax rates which are expected to apply in the periods in which the timing differences are expected to reverse, based on tax rates and laws which have been enacted or substantively enacted by the balance sheet date. Deferred tax is measured on a non-discounted basis.
ARTEZ LIVING LTD
NOTES TO THE ABBREVIATED ACCOUNTS (CONTINUED)
FOR THE YEAR ENDED 30 NOVEMBER 2016
- 3 -
2
Fixed assets
Tangible assets
£
Cost
At 1 December 2015
-
Additions
399
At 30 November 2016
399
Depreciation
At 1 December 2015
-
Charge for the period
80
At 30 November 2016
80
Net book value
At 30 November 2016
319
3
Share capital
2016
2015
£
£
Allotted, called up and fully paid
100 Ordinary shares of £1 each
100
100