Registered number: 10778515 | ||||||||
FOR THE YEAR ENDED 31/05/2023 | ||||||||
Amart Capital Ltd | ||||||||
ACCOUNTS | ||||||||
FOR THE YEAR ENDED 31/05/2023 | ||||||||
DIRECTORS | ||||||||
REGISTERED OFFICE | ||||||||
COMPANY DETAILS | ||||||||
Private company limited by shares registered in EW - England and Wales, registered number 10778515 | ||||||||
Amart Capital Ltd | ||||||||
ACCOUNTS | ||||||||
FOR THEYEARENDED31/05/2023 | ||||||||
CONTENTS | ||||||||
Page | ||||||||
Balance Sheet | 1 | |||||||
Notes To The Accounts | 2-4 | |||||||
Amart Capital Ltd | ||||||||
BALANCE SHEET AT | ||||||||||
2023 | 2022 | |||||||||
Notes | £ | £ | ||||||||
FIXED ASSETS | ||||||||||
Tangible assets | 3 | |||||||||
CURRENT ASSETS | ||||||||||
Stock | ||||||||||
Debtors | 5 | |||||||||
Cash at bank and in hand | ||||||||||
4,091,496 | 4,769,504 | |||||||||
CREDITORS: Amounts falling due within one year | 6 | |||||||||
NET CURRENT LIABILITIES | ( | (1,254,942) | ||||||||
TOTAL ASSETS LESS CURRENT LIABILITIES | ( | ( | ||||||||
CAPITAL AND RESERVES | ||||||||||
Called up share capital | 7 | |||||||||
Profit and loss account | (954,067) | (1,223,904) | ||||||||
SHAREHOLDERS' FUNDS | ( | ( | ||||||||
Approved by the board on | ||||||||||
............................. | ||||||||||
Director | ||||||||||
Amart Capital Ltd | ||||||||
NOTES TO THE ACCOUNTS | ||||||||||
FOR THE YEAR ENDED 31/05/2023 | ||||||||||
1. ACCOUNTING POLICIES |
1a. Basis Of Accounting | ||||||||
The accounts have been prepared under the historical cost convention. | ||||||||
The accounts have been prepared in accordance with FRS102 section 1A - The Financial Reporting Standard applicable in the UK and Republic of Ireland and the Companies Act 2006 . |
1b. Depreciation | ||||||||
Plant and Machinery | straight line 25% |
1c. Stocks | ||||||||
Stocks are stated at the lower of cost and estimated selling price (net realisable value). Net Realisable value is based on the estimated selling price less any estimated selling costs. Sales of artworks are matched with actual purchases. When stocks are sold, the carrying amount of those stocks is recognised as an expense in the period in which the related revenue is recognised. |
1d. Foreign Currency | ||||||||
Transactions in foreign currencies are recognised using average rates of during the year. Monetary items denominated in other currencies are translated at the rate prevailing at the end of the reporting period. All differences are taken to the profit and loss account. Non-monetary items that are measured at the historic cost in a foreign currency are not retranslated. |
2. EMPLOYEES | ||||||
2023 | 2022 | |||||
No. | No. | |||||
Average number of employees | 1 | |||||
Amart Capital Ltd | ||||||||
3. TANGIBLE FIXED ASSETS | ||||||
Plant and | ||||||
Machinery | Equipment | Total | ||||
£ | £ | £ | ||||
Cost | ||||||
At 01/06/2022 | 22,740 | 24,050 | 46,790 | |||
At 31/05/2023 | 22,740 | 24,050 | 46,790 | |||
Depreciation | ||||||
At 01/06/2022 | 15,652 | - | 15,652 | |||
For the year | 5,686 | - | 5,686 | |||
At 31/05/2023 | 21,338 | - | 21,338 | |||
Net Book Amounts | ||||||
At 31/05/2023 | 25,452 | |||||
At 31/05/2022 | 31,138 | |||||
4. STOCK | 2023 | 2022 | ||||
£ | £ | |||||
Stock comprises: | ||||||
Stock | ||||||
5. DEBTORS | 2023 | 2022 | ||||||
£ | £ | |||||||
Amounts falling due within one year | ||||||||
VAT | - | 24,457 | ||||||
Other debtors | 118,372 | 62,575 | ||||||
Third Party Loan | 2,174,077 | 2,803,200 | ||||||
2,292,449 | 2,890,232 | |||||||
6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR | ||||||||
2023 | 2022 | |||||||
£ | £ | |||||||
VAT | 292 | - | ||||||
PAYE control | 500 | 500 | ||||||
Directors current account | 5,070,123 | 6,023,946 | ||||||
5,070,915 | 6,024,446 | |||||||
Amart Capital Ltd | ||||||||
7. SHARE CAPITAL | 2023 | 2022 | ||||||
£ | £ | |||||||
Allotted, issued and fully paid: | ||||||||
100 | 100 | |||||||
100 | 100 | |||||||
100 | 100 | |||||||
8. CONTROLLING PARTY | ||||||||
Company is controlled by its director | ||||||||
9. GOING CONCERN | ||||||||
At the balance sheet date company had net liabilities of £953,967 (2022:£1,223,804). With the continued support of the director, the director believes the company is a going concern. | ||||||||