ACCOUNTS - Final Accounts preparation

THE ARTS DESK LIMITED - Company Information

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Registered number: 06828066

THE ARTS DESK LIMITED

ABBREVIATED ACCOUNTS

FOR THE YEAR ENDED 31 MARCH 2016

THE ARTS DESK LIMITED

REGISTERED NUMBER: 06828066

ABBREVIATED BALANCE SHEET

AS AT 31 MARCH 2016

2016

2015

	Note	£	£	£	£
FIXED ASSETS
Intangible assets	2		-		4,000

CURRENT ASSETS
Debtors	13,475		13,614
Cash at bank	8,144		11,855

	21,619		25,469
CREDITORS: amounts falling due within one year	(10,988)		(24,892)
NET CURRENT ASSETS		10,631		577

TOTAL ASSETS LESS CURRENT LIABILITIES

10,631

4,577

CAPITAL AND RESERVES
Called up share capital	3	8,300	8,300
Share premium account		205,345	205,345
Profit and loss account		(203,014)	(209,068)

SHAREHOLDERS' FUNDS

10,631

4,577

The directors consider that the company is entitled to exemption from the requirement to have an audit under the provisions of section 477 of the Companies Act 2006 ("the Act") and members have not required the company to obtain an audit for the year in question in accordance with section 476 of the Act.

The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and for preparing financial statements which give a true and fair view of the state of affairs of the company as at 31 March 2016 and of its profit for the year in accordance with the requirements of sections 394 and 395 of the Act and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the company.

The abbreviated accounts, which have been prepared in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006, were approved and authorised for issue by the board and were signed on its behalf on 21 December 2016.

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

Kevin Gerrard Madden

Director

The notes on pages 2 to 3 form part of these financial statements.

Page 1

THE ARTS DESK LIMITED

NOTES TO THE ABBREVIATED ACCOUNTS

FOR THE YEAR ENDED 31 MARCH 2016

1.ACCOUNTING POLICIES

	1.1	Basis of preparation of financial statements
		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 January 2015).

	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	Intangible fixed assets and amortisation
		Website Development costs have been amortised at 20% per annum straight line over 5 years.

2.INTANGIBLE FIXED ASSETS

		£
	Cost
	At 1 April 2015 and 31 March 2016	20,000
	Amortisation
	At 1 April 2015	16,000
	Charge for the year	4,000
	At 31 March 2016	20,000

	Net book value
	At 31 March 2016	-
	At 31 March 2015	4,000

3.SHARE CAPITAL

	2016	2015
	£	£
Allotted, called up and fully paid

169,750 Ordinary 'A' shares shares of £0.01 each	1,697.50	1,697.50
243,504 Ordinary 'B' shares shares of £0.01 each	2,435.04	2,435.04
416,735 Ordinary 'C ' shares shares of £0.01 each	4,167.35	4,167.35

	8,300	8,300

Page 2

THE ARTS DESK LIMITED

NOTES TO THE ABBREVIATED ACCOUNTS

FOR THE YEAR ENDED 31 MARCH 2016

4.RELATED PARTY TRANSACTIONS

Shares held by directors at 31 March 2016 were as below:

	A Ordinary shares	B Ordinary Shares	C Ordinary Shares

Jasper Charles Bertram Rees	17,830	410	40,850
Kevin Madden (family)	-	123,695	-
Thomas Henry Green	2,540	10	11,115
Fisun Guner	3,000	-	14,025
Simon Munk	-	-	-

During the year Kevin Madden, a director, incurred costs on behalf of the company totalling £1,800 (2015 - £11,872). At the balance sheet date an amount of £892 (2015 - £8,089) was owed.

Page 3