The Useful Arts Limited - Abbreviated accounts 16.1

REGISTERED NUMBER: 06602481 (England and Wales)

ABBREVIATED UNAUDITED ACCOUNTS FOR THE YEAR ENDED 31 MAY 2016

FOR

THE USEFUL ARTS LIMITED

Page

Company Information

1

Abbreviated Balance Sheet

2

Notes to the Abbreviated Accounts

3

DIRECTORS:

D Fraser-Moore

Mrs A Fraser-Moore

SECRETARY:

A D Frost

REGISTERED OFFICE:

F25 Waterfront Studios

1 Dock Road

London

E16 1AH

REGISTERED NUMBER:

06602481 (England and Wales)

ACCOUNTANTS:

March Mutual Ltd

F25 Waterfront Studios

1 Dock Road

London

E16 1AH

FIXED ASSETS

Tangible assets

2

1,066

802

CURRENT ASSETS

Debtors

4,502

4,664

Cash at bank

1,374

767

5,876

5,431

CREDITORS

Amounts falling due within one year

1,861

2,494

NET CURRENT ASSETS

4,015

2,937

TOTAL ASSETS LESS CURRENT
LIABILITIES

5,081

3,739

CAPITAL AND RESERVES

Called up share capital

3

2

Profit and loss account

5,079

3,737

SHAREHOLDERS' FUNDS

5,081

3,739

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 May 2016.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 May 2016 in accordance with Section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for:

(a)	ensuring that the company keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006 and

(b)

preparing financial statements which give a true and fair view of the state of affairs of the company as at the end
of each financial year and of its profit or loss for each financial year in accordance with the requirements of
Sections 394 and 395 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 have been prepared in accordance with the special provisions of Part 15 of the Companies Act 2006 relating to small companies.

The financial statements were approved by the Board of Directors on 16 February 2017 and were signed on its behalf
by:

D Fraser-Moore - Director

Mrs A Fraser-Moore - Director

1.	ACCOUNTING POLICIES

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 January 2015).

Turnover

Turnover represents net invoiced sales of goods, excluding value added tax.

Tangible fixed assets

Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.

Plant and machinery etc

-

33% on cost and 25% on cost

Deferred tax

Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the

balance sheet date.

2.	TANGIBLE FIXED ASSETS

Total

£

COST

At 1 June 2015

5,896

Additions

1,601

At 31 May 2016

7,497

DEPRECIATION

At 1 June 2015

5,094

Charge for year

1,337

At 31 May 2016

6,431

NET BOOK VALUE

At 31 May 2016

1,066

At 31 May 2015

802

3.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

31.5.16

31.5.15

value:

£

2

Ordinary

£1

2