Abbreviated Company Accounts - ARTIFAQS LIMITED

07189709 ARTIFAQS LIMITED 2014-07-31 false 2013-08-01 2014-07-31 true 07189709 2013-08-01 2014-07-31 07189709 2014-07-31 07189709 2013-07-31 07189709 uk-gaap-cd-bus:Director1 2013-08-01 2014-07-31 07189709 uk-gaap-cd-bus:Director2 2013-08-01 2014-07-31 uk-gaap-cd-bus:Director3 2013-08-01 2014-07-31 uk-gaap-cd-bus:Director3 2014-07-31 uk-gaap-cd-bus:Director3 2013-07-31 uk-gaap-cd-bus:Director4 2013-08-01 2014-07-31 uk-gaap-cd-bus:Director4 2014-07-31 uk-gaap-cd-bus:Director4 2013-07-31 uk-gaap-cd-bus:OrdinaryShareClass1 2013-08-01 2014-07-31 uk-gaap-cd-bus:OrdinaryShareClass1 2014-07-31 uk-gaap-cd-bus:OrdinaryShareClass1 2013-07-31 iso4217:GBP shares

Registered Number 07189709

ARTIFAQS LIMITED

Abbreviated Accounts

31 July 2014

ARTIFAQS LIMITED Registered Number 07189709

Abbreviated Balance Sheet as at 31 July 2014

	Notes	2014	2013
		£	£
Fixed assets
Tangible assets	2	302	451
		302	451
Current assets
Stocks		4,837	5,065
Debtors		4,114	8,500
Cash at bank and in hand		573	587
		9,524	14,152
Creditors: amounts falling due within one year		(8,081)	(5,941)
Net current assets (liabilities)		1,443	8,211
Total assets less current liabilities		1,745	8,662
Creditors: amounts falling due after more than one year		(68,363)	(67,314)
Total net assets (liabilities)		(66,618)	(58,652)
Capital and reserves
Called up share capital	3	100	100
Profit and loss account		(66,718)	(58,752)
Shareholders' funds		(66,618)	(58,652)

For the year ending 31 July 2014 the company was entitled to exemption 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 in accordance with the provisions applicable to companies subject to the small companies regime.

Approved by the Board on 14 February 2015

And signed on their behalf by:
Mark Aspinall, Director
Victoria Aspinall, Director

ARTIFAQS LIMITED Registered Number 07189709

Notes to the Abbreviated Accounts for the period ended 31 July 2014

1Accounting Policies

Basis of measurement and preparation of accounts
The accounts have been prepared under the historical cost convention and in accordance with the Financial Reporting Standard for Smaller Entities effective April 2008.

Turnover policy
Turnover comprises the value of sales (excluding value added tax, similar taxes and trade discounts) of goods and services provided in the normal course of business. Revenue is recognised when the goods are despatched, which is the same day on which the goods are delivered and hence is the point at which the risks and rewards of ownership pass to the buyer

Tangible assets depreciation policy
Depreciation is provided at rates calculated to write off the cost less residual value of each asset over its expected useful life, as follows:

Fixtures, fittings
and equipment - 33% Reducing balance

Other accounting policies
Stock

Stock is valued at the lower of cost and net realisable value.
Foreign currencies

Monetary assets and liabilities denominated in foreign currencies are translated into sterling at the rates of exchange prevailing at the accounting date. Transactions in foreign currencies are recorded at the date of the transactions. All differences are taken to the Profit and Loss account.
Going concern

The long term liability is due to Thurton Ethical Investments Ltd, a company in which Mark Aspinall, director is a director and shareholder. There are currently no plans in place to repay this debt within the next 12 months.

2Tangible fixed assets

	£
Cost
At 1 August 2013	2,017
Additions	-
Disposals	-
Revaluations	-
Transfers	-
At 31 July 2014	2,017
Depreciation
At 1 August 2013	1,566
Charge for the year	149
On disposals	-
At 31 July 2014	1,715
Net book values
At 31 July 2014	302
At 31 July 2013	451

3Called Up Share Capital
Allotted, called up and fully paid:

	2014 £	2013 £
100 Ordinary shares of £1 each	100	100

4Transactions with directors

Name of director receiving advance or credit:	Mark Aspinall
Description of the transaction:	Movement in the year
Balance at 1 August 2013:	£ 2,798
Advances or credits made:	£ 572
Advances or credits repaid:	-
Balance at 31 July 2014:	£ 3,370

Name of director receiving advance or credit:	Victoria Aspinall
Description of the transaction:	Movement in the year
Balance at 1 August 2013:	£ 338
Advances or credits made:	£ 208
Advances or credits repaid:	-
Balance at 31 July 2014:	£ 546