Accounts Submission

Accounts Submission

ARTYFACTS LTD - Company Information

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ARTYFACTS LTD

Company Registration Number:
06333021 (England and Wales)

Report of the Directors and Unaudited Financial Statements

Period of accounts

Start date: 01 September 2015

End date: 31 August 2016

ARTYFACTS LTD

Contents of the Financial Statements

for the Period Ended 31 August 2016

Company Information
Report of the Directors
Profit and Loss Account
Gains and Losses
Balance sheet
Notes to the Financial Statements

ARTYFACTS LTD

Company Information

for the Period Ended 31 August 2016




Director: Rosalind Paula Whyte
Registered office: 18
Bonfield Road
London
SE13 6BY
Company Registration Number: 06333021 (England and Wales)

ARTYFACTS LTD

Directors' Report Period Ended 31 August 2016

The directors present their report with the financial statements of the company for the period ended 31 August 2016

Principal Activities

The principal activities of the company are to provide cultural tours and lectures, with an Art History and History focus.

Directors
 The directors shown below have held office during the whole of the period from
01 September 2015 to 31 August 2016
Rosalind Paula Whyte

Additional information

Our Business and its markets
Anticipated work in the area of client entertainment for corporate entities continues to be negatively affected by the after effects of the financial recession. This situation may improve, and we hope that work in this area will develop in the future, so that the original intention of focusing on this potentially lucrative market will be achievable at some point.

In 2015-16 NADFAS (National Association of Decorative and Fine Art Societies) groups again provided the main source of income. Lecturing on cruises with Swan Hellenic provided networking and work opportunities, but as of January 2017 Swan Hellenic have gone into receivership, so this opportunity will not be available in future. Research will be undertaken to establish further cruise lecturing opportunities with other firms in the future as, although these are unpaid, they do provide a source of work through recommendations.

ArtyFacts at Blackheath weekly lectures continued, providing a source of regular work locally and reducing the reliance on external work, which can fluctuate from year to year. A 9-week course was run in Autumn 2015, on Fridays and with the lectures repeated on Thursday evenings. Unfortunately numbers were lower than hoped, especially for the evening sessions. A 3-weekcourse was run in spring (fitting around cruises mentioned above) and a10-week course in summer, initially both Friday morning and Thursday evening, but the latter proved to be unfeasible, with attendance so low that the evening slot was cancelled after 3 weeks. The Friday morning sessions are still a positive addition to Artyfact’s work.

The above report has been prepared in accordance with the special provisions in part 15 of the Companies Act 2006

This report was approved by the board of directors on 12 May 2017
And Signed On Behalf Of The Board By:

Name: Rosalind Paula Whyte
Status: Director

ARTYFACTS LTD

Profit and Loss Account

for the Period Ended 31 August 2016


Notes
2016
£
2015
£
Turnover: 2 10,877 9,596
Cost of sales: ( 2,357 ) ( 1,115 )
Gross profit or (loss): 8,520 8,481
Distribution costs: ( 1,701 ) ( 1,825 )
Administrative expenses: 3, 4 ( 18,877 ) ( 18,149 )
Other operating income: 0 0
Operating profit or (loss): 5 ( 12,058 ) ( 11,493 )
Profit or (loss) on ordinary activities before taxation: ( 12,058 ) ( 11,493 )
Tax on profit or (loss) on ordinary activities: 6 1,356 1,258
Profit or (loss) for the financial year: ( 10,702 ) ( 10,235 )

The notes form part of these financial statements

ARTYFACTS LTD

Statement of total recognised gains and losses

The company does not have any gains and losses other than Profit and Loss for the period to report

ARTYFACTS LTD

Balance sheet

As at 31 August 2016


Notes
2016
£
2015
£
Fixed assets
Tangible assets: 7 222 298
Total fixed assets: 222 298
Current assets
Debtors: 8 932 2,166
Cash at bank and in hand: 681 487
Total current assets: 1,613 2,653
Creditors: amounts falling due within one year: 9 ( 5,494 ) ( 6,443 )
Net current assets (liabilities): ( 3,881 ) ( 3,790 )
Total assets less current liabilities: ( 3,659 ) ( 3,492 )
Total net assets (liabilities): ( 3,659 ) ( 3,492 )

The notes form part of these financial statements

ARTYFACTS LTD

Balance sheet continued

As at 31 August 2016


Notes
2016
£
2015
£
Capital and reserves
Called up share capital: 10 37,289 26,754
Profit and loss account: 11 ( 40,948 ) ( 30,246 )
Shareholders funds: ( 3,659 ) ( 3,492 )

For the year ending 31 August 2016 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.

The financial statements were approved by the Board of Directors on 12 May 2017

SIGNED ON BEHALF OF THE BOARD BY:

Name: Rosalind Paula Whyte
Status: Director

The notes form part of these financial statements

ARTYFACTS LTD

Notes to the Financial Statements

for the Period Ended 31 August 2016

  • 1. Accounting policies

    Basis of measurement and preparation of accounts

    The financial statements are prepared under the historic costs convention and in
    accordance with applicable accounting standards and comply with the requirements of the
    United Kingdom Companies Act 2006.

    Turnover policy

    Turnover represents income received from invoiced services for tours and lectures on cruises.

    Tangible fixed assets depreciation policy

    The cost of tangible fixed assets is purchase price together with any incidental costs of acquisition.

    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:
    Equipment

ARTYFACTS LTD

Notes to the Financial Statements

for the Period Ended 31 August 2016

  • 2. Turnover

    The turnover and profit before tax are attributable to the principal activity of the Company within the
    United Kingdom.

ARTYFACTS LTD

Notes to the Financial Statements

for the Period Ended 31 August 2016

  • 3. Directors' remuneration


    2016
    £
    2015
    £
    Directors' remuneration: 8,064 8,861
    Value of contributions to directors' pensions: 1,257 1,231
    TOTAL: 9,321 10,092

ARTYFACTS LTD

Notes to the Financial Statements

for the Period Ended 31 August 2016

  • 4. Employees


    2016
    £
    2015
    £
    Total staff costs: 0 0
    Average number of employees including directors during the period: 1 1

ARTYFACTS LTD

Notes to the Financial Statements

for the Period Ended 31 August 2016

  • 5. Operating profit or (loss)

    Operating profit or (loss) before tax as stated after charging the following.


    2016
    £
    2015
    £
    Depreciation - owned assets: 5,278 5,203

ARTYFACTS LTD

Notes to the Financial Statements

for the Period Ended 31 August 2016

  • 6. Taxation

    The tax charge on the profit on ordinary activities for the period was as follows:


    2016
    £
    2015
    £
    UK Corporation tax: ( 1,356 ) ( 1,258 )
    Tax on profit or (loss) on ordinary activities: ( 1,356 ) ( 1,258 )
    Profit or (loss) on ordinary activities before taxation: ( 12,058 ) ( 11,493 )
    Any other adjustments: ( 1,356 ) ( 1,258 )
    Current tax charge or (credit): ( 1,356 ) ( 1,258 )

ARTYFACTS LTD

Notes to the Financial Statements

for the Period Ended 31 August 2016

  • 7. Tangible assets

    Land and buildings Plant and Machinery Fixtures and fittings Office Equipment Motor vehicles Total
    Cost £ £ £ £ £ £
    01 September 2015: - - - 5,499 - 5,499
    Additions: - - - - - 0
    Disposals: - - - - - 0
    Revaluations: - - - - - 0
    Transfers: - - - - - 0
    31 August 2016: - - - 5,499 - 5,499
    Depreciation
    01 September 2015: - - - 5,201 - 5,201
    Charge for year: - - - 76 - 76
    On disposals: - - - - - 0
    Other adjustments: - - - - - 0
    31 August 2016: - - - 5,277 - 5,277
    Net book value
    31 August 2016: - - - 222 - 222
    31 August 2015: - - - 298 - 298

ARTYFACTS LTD

Notes to the Financial Statements

for the Period Ended 31 August 2016

  • 8. Debtors


    2016
    £
    2015
    £
    Trade debtors: 932 2,166
    Total: 932 2,166

ARTYFACTS LTD

Notes to the Financial Statements

for the Period Ended 31 August 2016

  • 9. Creditors: amounts falling due within one year


    2016
    £
    2015
    £
    Trade creditors: 5,494 6,443
    Total: 5,494 6,443

ARTYFACTS LTD

Notes to the Financial Statements

for the Period Ended 31 August 2016

  • 10. Called up share capital

    Allotted, called up and paid

    Previous period
    2015
    Class Number of shares Nominal value per share (£) Total (£)
    Ordinary shares: 26,754 1.00 26,754
    Preference shares: 0
    Total share capital (£): 26,754
    Current period
    2016
    Class Number of shares Nominal value per share (£) Total (£)
    Ordinary shares: 37,289 1.00 37,289
    Preference shares: 0
    Total share capital (£): 37,289

ARTYFACTS LTD

Notes to the Financial Statements

for the Period Ended 31 August 2016

  • 11. Profit and loss account


    2016
    £
    2015
    £
    Opening balance: ( 30,246 ) ( 20,011 )
    Profit or (loss) for the period: ( 10,702 ) ( 10,235 )
    Retained profit: ( 40,948 ) ( 30,246 )