ARTSNOSE_LTD - Accounts

ARTSNOSE LIMITED - Company Information

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Company Registration No. 04392583 (England and Wales)

ARTSNOSE LTD

UNAUDITED ABBREVIATED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MARCH 2015

ARTSNOSE LTD

CONTENTS

Page

Abbreviated balance sheet

Notes to the abbreviated accounts

2 - 3

ARTSNOSE LTD

ABBREVIATED BALANCE SHEET

AS AT

31 MARCH 2015

- 1 -

2015

2014

Notes

Fixed assets

Tangible assets

120

211

Current assets

Debtors

844

1,154

Cash at bank and in hand

3,102

5,266

3,946

6,420

Creditors: amounts falling due within one year

(27,175)

(26,960)

Net current liabilities

(23,229)

(20,540)

Total assets less current liabilities

(23,109)

(20,329)

Capital and reserves

Called up share capital

39,011

Share premium account

9,600

Profit and loss account

(71,720)

(68,940)

Shareholders' funds

(23,109)

(20,329)

For the financial year ended 31 March 2015 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Directors' 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 directors acknowledge their 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 and authorised for issue on 22 June 2015

Mrs Lesley Butler

Director

Company Registration No. 04392583

ARTSNOSE LTD

NOTES TO THE ABBREVIATED ACCOUNTS

FOR THE YEAR ENDED 31 MARCH 2015

- 2 -

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 April 2008).

1.2

Compliance with accounting standards

The financial statements are prepared in accordance with applicable United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice), which have been applied consistently (except as otherwise stated).

1.3

Turnover

Turnover represents amounts receivable for goods and services net of VAT and trade discounts.

1.4

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:

Plant and machinery

25% straight line

Computer equipment

33% straight line

Fixtures, fittings & equipment

25% reducing balance

1.5

Deferred taxation

Deferred taxation is provided in full in respect of taxation deferred by timing differences between the treatment of certain items for taxation and accounting purposes. The deferred tax balance has not been discounted.

Fixed assets

Tangible assets

Cost

At 1 April 2014 & at 31 March 2015

68,395

Depreciation

At 1 April 2014

68,184

Charge for the year

At 31 March 2015

68,275

Net book value

At 31 March 2015

120

At 31 March 2014

211

ARTSNOSE LTD

NOTES TO THE ABBREVIATED ACCOUNTS (CONTINUED)

FOR THE YEAR ENDED 31 MARCH 2015

- 3 -

Share capital

2015

2014

Allotted, called up and fully paid

39,011 Ordinary of £1 each

39,011

Related party relationships and transactions

Transactions in relation to loans from directors during the year are outlined in the table below:

Description

% Rate

Opening Balance

Amounts Advanced

Interest Charged

Amounts Repaid

Closing Balance

Directors Loan Account

25,333