ART_ANALYSIS_AND_RESEARCH - Accounts

EXAAR LIMITED - Company Information

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Company Registration No. 06825631 (England and Wales)

ART ANALYSIS AND RESEARCH LIMITED

ABBREVIATED ACCOUNTS

FOR THE YEAR ENDED 31 MARCH 2015

ART ANALYSIS AND RESEARCH LIMITED

CONTENTS

Page

Abbreviated balance sheet

1 - 2

Notes to the abbreviated accounts

3 - 4

ART ANALYSIS AND RESEARCH LIMITED

ABBREVIATED BALANCE SHEET

AS AT

31 MARCH 2015

- 1 -

2015

2014

Notes

Fixed assets

Tangible assets

30,292

4,449

Current assets

Debtors

154,460

258,510

Investments

4,384

Cash at bank and in hand

22,736

119,931

181,580

378,441

Creditors: amounts falling due within one year

(223,775)

(106,912)

Net current (liabilities)/assets

(42,195)

271,529

Total assets less current liabilities

(11,903)

275,978

Creditors: amounts falling due after more than one year

(311,140)

(11,903)

(35,162)

Capital and reserves

Called up share capital

1,500

Share premium account

529,489

Profit and loss account

(542,892)

(566,151)

Shareholders' funds

(11,903)

(35,162)

ART ANALYSIS AND RESEARCH LIMITED

ABBREVIATED BALANCE SHEET (CONTINUED)

AS AT

31 MARCH 2015

- 2 -

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 for issue on 30 December 2015

N Eastaugh

Director

Company Registration No. 06825631

ART ANALYSIS AND RESEARCH LIMITED

NOTES TO THE ABBREVIATED ACCOUNTS

FOR THE YEAR ENDED 31 MARCH 2015

- 3 -

Accounting policies

1.1

Accounting convention

The financial statements have been prepared under the historical cost convention and in accordance with the Financial Reporting Standard for Smaller Entities (effective April 2008).

1.2

Turnover

Turnover comprises revenue recognised by the company in respect of goods and services supplied during the year, exclusive of Value Added Tax 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:

Plant and machinery

33% straight line

Office equipment

33% straight line

Fixtures, fittings & equipment

20% straight line

1.4

Investments

Current asset investments are stated at the lower of cost and net realisable value.

1.5

Foreign currency translation

Monetary assets and liabilities denominated in foreign currencies are translated into sterling at the rates of exchange ruling at the balance sheet date. Transactions in foreign currencies are recorded at the rate ruling at the date of the transaction. All differences are taken to profit and loss account.

1.6

Stocks and work in progress

Stocks and work in progress are valued at the lower of cost and net realisable value after making due allowance for obsolete and slow-moving stocks. Cost includes all direct costs and an appropriate proportion of fixed and variable overheads.

ART ANALYSIS AND RESEARCH LIMITED

NOTES TO THE ABBREVIATED ACCOUNTS (CONTINUED)

FOR THE YEAR ENDED 31 MARCH 2015

- 4 -

Fixed assets

Tangible assets

Cost

At 1 April 2014

655,032

Additions

42,293

At 31 March 2015

697,325

Depreciation

At 1 April 2014

650,584

Charge for the year

16,449

At 31 March 2015

667,033

Net book value

At 31 March 2015

30,292

At 31 March 2014

4,449

Share capital

2015

2014

Allotted, called up and fully paid

1,500 Ordinary Shares of £1 each

1,500