Abbreviated Company Accounts - ARTIFAQS LIMITED

07189709 ARTIFAQS LIMITED 2015-07-31 false 2014-08-01 2015-07-31 true 07189709 2014-08-01 2015-07-31 07189709 2015-07-31 07189709 2014-07-31 07189709 uk-gaap-cd-bus:Director1 2014-08-01 2015-07-31 07189709 uk-gaap-cd-bus:Director2 2014-08-01 2015-07-31 uk-gaap-cd-bus:OrdinaryShareClass1 2014-08-01 2015-07-31 uk-gaap-cd-bus:OrdinaryShareClass1 2015-07-31 uk-gaap-cd-bus:OrdinaryShareClass1 2014-07-31 iso4217:GBP shares

Registered Number 07189709

ARTIFAQS LIMITED

Abbreviated Accounts

31 July 2015

ARTIFAQS LIMITED Registered Number 07189709

Abbreviated Balance Sheet as at 31 July 2015

	Notes	2015	2014
		£	£
Fixed assets
Tangible assets	2	202	302
		202	302
Current assets
Stocks		4,837	4,837
Debtors		2,072	4,114
Cash at bank and in hand		548	573
		7,457	9,524
Creditors: amounts falling due within one year		(6,509)	(8,081)
Net current assets (liabilities)		948	1,443
Total assets less current liabilities		1,150	1,745
Creditors: amounts falling due after more than one year		(67,812)	(68,363)
Total net assets (liabilities)		(66,662)	(66,618)
Capital and reserves
Called up share capital	3	100	100
Profit and loss account		(66,762)	(66,718)
Shareholders' funds		(66,662)	(66,618)

For the year ending 31 July 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 21 March 2016

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

ARTIFAQS LIMITED Registered Number 07189709

Notes to the Abbreviated Accounts for the period ended 31 July 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 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 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 2014	2,017
Additions	-
Disposals	-
Revaluations	-
Transfers	-
At 31 July 2015	2,017
Depreciation
At 1 August 2014	1,715
Charge for the year	100
On disposals	-
At 31 July 2015	1,815
Net book values
At 31 July 2015	202
At 31 July 2014	302

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

	2015 £	2014 £
100 Ordinary shares of £1 each	100	100