Abbreviated Company Accounts - ART OF COMPUTING LTD

ART OF COMPUTING LTD - Company Information

04143170 ART OF COMPUTING LTD 2015-03-31 false 2014-04-01 2015-03-31 true 04143170 2014-04-01 2015-03-31 04143170 2015-03-31 04143170 2014-03-31 04143170 uk-gaap-cd-bus:Director1 2014-04-01 2015-03-31 04143170 uk-gaap-cd-bus:Director2 2014-04-01 2015-03-31 uk-gaap-cd-bus:Director3 2014-04-01 2015-03-31 uk-gaap-cd-bus:Director3 2015-03-31 uk-gaap-cd-bus:Director3 2014-03-31 iso4217:GBP shares

Registered Number 04143170

ART OF COMPUTING LTD

Abbreviated Accounts

31 March 2015

ART OF COMPUTING LTD Registered Number 04143170

Abbreviated Balance Sheet as at 31 March 2015

	Notes	2015	2014
		£	£
Fixed assets
Tangible assets	2	17,458	25,660
		17,458	25,660
Current assets
Stocks		6,340	3,290
Debtors		138,597	140,655
Cash at bank and in hand		60,902	91,069
		205,839	235,014
Creditors: amounts falling due within one year		(104,360)	(85,162)
Net current assets (liabilities)		101,479	149,852
Total assets less current liabilities		118,937	175,512
Creditors: amounts falling due after more than one year		(114,796)	(125,000)
Total net assets (liabilities)		4,141	50,512
Capital and reserves
Called up share capital		250	250
Profit and loss account		3,891	50,262
Shareholders' funds		4,141	50,512

For the year ending 31 March 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 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 31 December 2015

And signed on their behalf by:
C Galonis, Director

ART OF COMPUTING LTD Registered Number 04143170

Notes to the Abbreviated Accounts for the period ended 31 March 2015

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 represents the total invoice value, excluding value added tax, of sales made during the year and derives from the provision of goods falling within the company's ordinary activities.

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:
Fixture, fittings and equipment - 25% straight line
Motor vehicle - 25% straight line

Other accounting policies
Leasing and hire purchase commitments:
Assets obtained under hire purchase contracts and finance leases are capitalised as tangible assets and depreciated over the shorter of the lease term and their useful lives.
Obligations under such agreements are included in creditors net of the finance charge allocated to future periods. The finance element of the rental payment is charged
to the profit and loss account so as to produce constant periodic rates of charge on the net obligations outstanding in each period.

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

2Tangible fixed assets

	£
Cost
At 1 April 2014	47,205
Additions	-
Disposals	-
Revaluations	-
Transfers	-
At 31 March 2015	47,205
Depreciation
At 1 April 2014	21,545
Charge for the year	8,202
On disposals	-
At 31 March 2015	29,747
Net book values
At 31 March 2015	17,458
At 31 March 2014	25,660

3Transactions with directors

Name of director receiving advance or credit:	C Galonis
Description of the transaction:	Transactions with directors
Balance at 1 April 2014:	£ 31,738
Advances or credits made:	-
Advances or credits repaid:	£ 31,738
Balance at 31 March 2015:	£ 0

Last year director has a debit balance, this was £31,738. This balance was cleared during the year.