1 January 2017 false No description of principal activity Taxfiler 2017.48.Web 2491685business:CompanyLimitedByGuarantee2017-01-012017-12-31 24916852016-12-31 24916852017-01-012017-12-31 2491685business:AuditExempt-NoAccountantsReport2017-01-012017-12-31 2491685business:FullAccounts2017-01-012017-12-31 24916852017-12-31 2491685business:Director12017-01-012017-12-31 2491685business:Director22017-01-012017-12-31 2491685business:Director32017-01-012017-12-31 2491685business:Director42017-01-012017-12-31 2491685business:Director52017-01-012017-12-31 2491685business:RegisteredOffice2017-01-012017-12-31 24916852016-12-31 2491685core:WithinOneYear2017-12-31 2491685core:WithinOneYear2016-12-31 2491685core:AfterOneYear2017-12-31 2491685core:AfterOneYear2016-12-31 2491685core:RetainedEarningsAccumulatedLosses2017-12-31 2491685core:RetainedEarningsAccumulatedLosses2016-12-31 2491685business:SmallEntities2017-01-012017-12-31 2491685countries:EnglandWales2017-01-012017-12-31 2491685core:MotorVehicles2017-01-012017-12-31 2491685core:ComputerEquipment2017-01-012017-12-31 2491685core:LandBuildings2016-12-31 2491685core:MotorVehicles2016-12-31 2491685core:ComputerEquipment2016-12-31 2491685core:LandBuildings2017-12-31 2491685core:MotorVehicles2017-12-31 2491685core:ComputerEquipment2017-12-31 2491685core:LandBuildings2017-01-012017-12-31 24916852016-01-012016-12-31 iso4217:GBP xbrli:pure
Company Registration No. 2491685 (England and Wales)
Arts Factory Ltd Unaudited accounts for the year ended 31 December 2017
Arts Factory Ltd Unaudited accounts Contents
Page
Company information
3
Statement of financial position
4
Notes to the accounts
5
- 2 -
Arts Factory Ltd Company Information for the year ended 31 December 2017
Directors
Ms A Evans Mr S Addison Mr BJ Triggs Ms S Pope Mr MH Bryan
Company Number
2491685 (England and Wales)
Registered Office
Trerhondda Chapel The Strand Ferndale CF43 4LY
Accountants
Arian Accountants Limited 19 Sundew Close Radyr Cheyne Cardiff CF5 2SE
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Arts Factory Ltd Statement of financial position as at 31 December 2017
2017 
2016 
Notes
£ 
£ 
Fixed assets
Tangible assets
4
252,648 
253,529 
Current assets
Debtors
5
10,719 
15,920 
Cash at bank and in hand
43,714 
35,854 
54,433 
51,774 
Creditors: amounts falling due within one year
6
(42,944)
(71,356)
Net current assets/(liabilities)
11,489 
(19,582)
Total assets less current liabilities
264,137 
233,947 
Creditors: amounts falling due after more than one year
7
(90,240)
(112,941)
Net assets
173,897 
121,006 
Reserves
8
Profit and loss account
173,897 
121,006 
Members' funds
173,897 
121,006 
For the year ending 31 December 2017 the company was entitled to exemption from audit 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 and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with the provisions of FRS 102 Section 1A - Small Entities. The profit and loss account has not been delivered to the Registrar of Companies.
Approved by the Board on 26 February 2018.
Mr MH Bryan Director Company Registration No. 2491685
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Arts Factory Ltd Notes to the Accounts for the year ended 31 December 2017
1
Statutory information
Arts Factory Ltd is a private company, limited by guarantee, registered in England and Wales, registration number 2491685. The registered office is Trerhondda Chapel, The Strand, Ferndale, CF43 4LY.
2
Compliance with accounting standards
The accounts have been prepared in accordance with the provisions of FRS 102 Section 1A Small Entities. There were no material departures from that standard.
3
Accounting policies
The principal accounting policies adopted in the preparation of the financial statements are set out below and have remained unchanged from the previous year, and also have been consistently applied within the same accounts.
Basis of preparation
The accounts have been prepared under the historical cost convention as modified by the revaluation of certain fixed assets.
Presentation currency
The accounts are presented in £ sterling.
Turnover
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. Turnover from the sale of goods is recognised when goods have been delivered to customers such that risks and rewards of ownership have transferred to them. Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs.
Tangible fixed assets and depreciation
Tangible assets are included at cost less depreciation and impairment. Depreciation has been provided at the following rates in order to write off the assets over their estimated useful lives:
Motor vehicles
25% on cost
Computer equipment
25% on cost
Pension costs
The company operates a defined contribution scheme for the benefit of its employees. Contributions payable are recognised in the profit and loss account when due.
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Arts Factory Ltd Notes to the Accounts for the year ended 31 December 2017
4
Tangible fixed assets
Land & buildings 
Motor vehicles 
Computer equipment 
Total 
£ 
£ 
£ 
£ 
Cost or valuation
At cost 
At cost 
At cost 
At 1 January 2017
371,153 
1,250 
85,819 
458,222 
At 31 December 2017
371,153 
1,250 
85,819 
458,222 
Depreciation
At 1 January 2017
121,153 
312 
83,228 
204,693 
Charge for the year
- 
234 
647 
881 
At 31 December 2017
121,153 
546 
83,875 
205,574 
Net book value
At 31 December 2017
250,000 
704 
1,944 
252,648 
At 31 December 2016
250,000 
938 
2,591 
253,529 
5
Debtors
2017 
2016 
£ 
£ 
Trade debtors
8,466 
15,306 
Other debtors
2,253 
614 
10,719 
15,920 
6
Creditors: amounts falling due within one year
2017 
2016 
£ 
£ 
Bank loans and overdrafts
6,500 
5,000 
Obligations under finance leases and hire purchase contracts
- 
383 
Trade creditors
13,764 
30,155 
Taxes and social security
1,444 
2,110 
Other creditors
8,444 
8,193 
Accruals
2,500 
4,624 
Deferred income
10,292 
20,891 
42,944 
71,356 
7
Creditors: amounts falling due after more than one year
2017 
2016 
£ 
£ 
Bank loans
75,304 
83,244 
Other creditors
11,603 
19,697 
Deferred income
3,333 
10,000 
90,240 
112,941 
8
Company limited by guarantee
The company is limited by guarantee and has no share capital. Every member of the company undertakes to contribute to the assets of the company, in the event of a winding up, such an amount as may be required not exceeding £1.
- 6 -
Arts Factory Ltd Notes to the Accounts for the year ended 31 December 2017
9
Average number of employees
During the year the average number of employees was 3 (2016: 2).
- 7 -