Original Artworks Limited - Period Ending 2015-04-30

Registration number: 04742625

Original Artworks Limited

Unaudited Abbreviated Accounts

for the Year Ended 30 April 2015
 

Thomas Harris Ltd
The 1929 Building
Merton Abbey Mills
18 Watermill Way
London
SW19 2RD

Original Artworks Limited
Contents

Accountants' Report 1

Abbreviated Balance Sheet 2

Notes to the Abbreviated Accounts 3 to 4

The following reproduces the text of the accountants' report in respect of the company's annual financial statements, from which the abbreviated accounts (set out on pages 2 to 4) have been prepared.

Chartered Accountants' Report to the Director on the Preparation of the Unaudited Statutory Accounts of
Original Artworks Limited
for the Year Ended 30 April 2015

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the accounts of Original Artworks Limited for the year ended 30 April 2015 set out on pages from the company's accounting records and from information and explanations you have given us.

As a practising member firm of the Institute of Chartered Accountants in England and Wales (ICAEW), we are subject to its ethical and other professional requirements which are detailed at icaew.com/membershandbook.

This report is made solely to the Board of Directors of Original Artworks Limited, as a body, in accordance with the terms of our engagement letter. Our work has been undertaken solely to prepare for your approval the accounts of Original Artworks Limited and state those matters that we have agreed to state to them, as a body, in this report in accordance with AAF 2/10 as detailed at icaew.com/compilation. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than Original Artworks Limited and its Board of Directors as a body for our work or for this report.

It is your duty to ensure that Original Artworks Limited has kept adequate accounting records and to prepare statutory accounts that give a true and fair view of the assets, liabilities, financial position and profit of Original Artworks Limited. You consider that Original Artworks Limited is exempt from the statutory audit requirement for the year.

We have not been instructed to carry out an audit or a review of the accounts of Original Artworks Limited. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory accounts.

......................................

Thomas Harris Ltd
The 1929 Building
Merton Abbey Mills
18 Watermill Way
London
SW19 2RD

28 September 2015

Page 1

Original Artworks Limited
(Registration number: 04742625)
Abbreviated Balance Sheet at 30 April 2015

		Note			2015 £			2014 £
Fixed assets
Tangible fixed assets					8,754			9,657
Current assets
Stocks					10,915			9,451
Debtors					5,072			2,801
Cash at bank and in hand					8			-
					15,995			12,252
Creditors: Amounts falling due within one year					(26,576)			(22,226)
Net current liabilities					(10,581)			(9,974)
Net liabilities					(1,827)			(317)
Capital and reserves
Called up share capital		3			100			100
Profit and loss account					(1,927)			(417)
Shareholders' deficit					(1,827)			(317)

For the year ending 30 April 2015 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 director acknowledges her 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 director on 28 September 2015

.........................................
TJ Sherriffs
Director

The notes on pages 3 to 4 form an integral part of these financial statements.
Page 2

Original Artworks Limited
Notes to the Abbreviated Accounts for the Year Ended 30 April 2015
......... continued

1	Accounting policies

Basis of preparation

The full financial statements, from which these abbreviated accounts have been extracted, have been prepared under the historical cost convention and in accordance with the Financial Reporting Standard for Smaller Entities (Effective April 2008).

Turnover

Turnover represents amounts chargeable, net of value added tax, in respect of the sale of goods and services to customers.

Depreciation

Depreciation is provided on tangible fixed assets so as to write off the cost or valuation, less any estimated residual value, over their expected useful economic life as follows:

Asset class	Depreciation method and rate
Plant and machinery	10% Reducing balance basis

Stock

Stock is valued at the lower of cost and net realisable value, after due regard for obsolete and slow moving stocks. Net realisable value is based on selling price less anticipated costs to completion and selling costs.

Financial instruments

Financial instruments are classified and accounted for, according to the substance of the contractual arrangement, as financial assets, financial liabilities or equity instruments. An equity instrument is any contract that evidences a residual interest in the assets of the company after deducting all of its liabilities. Where shares are issued, any component that creates a financial liability of the company is presented as a liability in the balance sheet. The corresponding dividends relating to the liability component are charged as interest expense in the profit and loss account.

Page 3

Original Artworks Limited
Notes to the Abbreviated Accounts for the Year Ended 30 April 2015
......... continued

2	Fixed assets

		Tangible assets £			Total £
Cost
At 1 May 2014		10,353			10,353
Additions		70			70
At 30 April 2015		10,423			10,423
Depreciation
At 1 May 2014		696			696
Charge for the year		973			973
At 30 April 2015		1,669			1,669
Net book value
At 30 April 2015		8,754			8,754
At 30 April 2014		9,657			9,657

3	Share capital

Allotted, called up and fully paid shares

	2015						2014
		No.			£			No.			£
Ordinary shares of £1 each		100			100			100			100

Page 4