The Art Works (UK) Limited - Abbreviated accounts 16.3

The Art Works (UK) Limited - Abbreviated accounts 16.3

THE ART WORKS (UK) LIMITED - Company Information

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REGISTERED NUMBER: 05994705 (England and Wales)


















ABBREVIATED UNAUDITED ACCOUNTS FOR THE YEAR ENDED 30 SEPTEMBER 2016

FOR

THE ART WORKS (UK) LIMITED

THE ART WORKS (UK) LIMITED (REGISTERED NUMBER: 05994705)






CONTENTS OF THE ABBREVIATED ACCOUNTS
FOR THE YEAR ENDED 30 SEPTEMBER 2016




Page

Company Information 1

Abbreviated Balance Sheet 2

Notes to the Abbreviated Accounts 4

THE ART WORKS (UK) LIMITED

COMPANY INFORMATION
FOR THE YEAR ENDED 30 SEPTEMBER 2016







DIRECTORS: M J Fisher
B J Fowler





SECRETARY: B J Fowler





REGISTERED OFFICE: The Art Works
Courthouse Street
Otley
West Yorkshire
LS21 3AN





REGISTERED NUMBER: 05994705 (England and Wales)





ACCOUNTANTS: Templeman Ross Chartered Accountants
River House
Wharfebank Business Centre
Ilkley Road
Otley
West Yorkshire
LS21 3JP
Page 1
THE ART WORKS (UK) LIMITED (REGISTERED NUMBER: 05994705)

ABBREVIATED BALANCE SHEET
30 SEPTEMBER 2016

2016 2015
Notes £    £   
FIXED ASSETS
Intangible assets 2 - -
Tangible assets 3 10,937 13,131
10,937 13,131

CURRENT ASSETS
Stocks 11,211 10,420
Debtors 18,123 23,622
Cash at bank and in hand 57,214 64,685
86,548 98,727
CREDITORS
Amounts falling due within one year (21,271 ) (29,429 )
NET CURRENT ASSETS 65,277 69,298
TOTAL ASSETS LESS CURRENT
LIABILITIES
76,214
82,429

PROVISIONS FOR LIABILITIES (2,103 ) (2,523 )
NET ASSETS 74,111 79,906

CAPITAL AND RESERVES
Called up share capital 4 4 4
Profit and loss account 74,107 79,902
SHAREHOLDERS' FUNDS 74,111 79,906

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30 September 2016.

The members have not required the company to obtain an audit of its financial statements for the year ended 30 September 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 notes form part of these abbreviated accounts

Page 2 continued...
THE ART WORKS (UK) LIMITED (REGISTERED NUMBER: 05994705)

ABBREVIATED BALANCE SHEET - continued
30 SEPTEMBER 2016


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 27 June 2017 and were signed on its behalf by:





B J Fowler - Director


The notes form part of these abbreviated accounts

Page 3
THE ART WORKS (UK) LIMITED (REGISTERED NUMBER: 05994705)

NOTES TO THE ABBREVIATED ACCOUNTS
FOR THE YEAR ENDED 30 SEPTEMBER 2016

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.

Goodwill
Goodwill, being the amount paid in connection with the acquisition of a business in 2006, is being amortised evenly over its estimated useful life of five years.

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 - 25% on reducing balance, 20% on reducing balance and 15% on reducing balance

Stocks
Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow
moving items.

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

Hire purchase and leasing commitments
Rentals paid under operating leases are charged to the profit and loss account on a straight line basis over the
period of the lease.

Pension costs and other post-retirement benefits
The company operates a defined contribution pension scheme. Contributions payable to the company's pension
scheme are charged to the profit and loss account in the period to which they relate.

2. INTANGIBLE FIXED ASSETS
Total
£   
COST
At 1 October 2015
and 30 September 2016 5,000
AMORTISATION
At 1 October 2015
and 30 September 2016 5,000
NET BOOK VALUE

At 30 September 2016 -
At 30 September 2015 -

Page 4 continued...
THE ART WORKS (UK) LIMITED (REGISTERED NUMBER: 05994705)

NOTES TO THE ABBREVIATED ACCOUNTS - continued
FOR THE YEAR ENDED 30 SEPTEMBER 2016

3. TANGIBLE FIXED ASSETS
Total
£   
COST
At 1 October 2015 21,029
Additions 739
At 30 September 2016 21,768
DEPRECIATION
At 1 October 2015 7,898
Charge for year 2,933
At 30 September 2016 10,831
NET BOOK VALUE
At 30 September 2016 10,937
At 30 September 2015 13,131

4. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 2016 2015
value: £    £   
2 Ordinary £1 2 2
1 A Ordinary £1 1 1
1 B Ordinary £1 1 1
4 4

Page 5