Academy Arts Limited - Period Ending 2017-03-31

Academy Arts Limited

Annual Report and Unaudited Financial Statements

for the Year Ended 31 March 2017

Mark Smith & Co
8 The Shrubberies
George Lane
South Woodford
London
E18 1BD

Academy Arts Limited

Contents

Company Information	1
Accountants' Report	2
Profit and Loss Account	3
Balance Sheet	4 to 6
Notes to the Financial Statements	5

Academy Arts Limited

Company Information

Director

N Jones

Company secretary

N Jones

Registered office

8 The Shrubberies
George Lane
South Woodford
London
E18 1BD

Accountants

Mark Smith & Co
8 The Shrubberies
George Lane
South Woodford
London
E18 1BD

Page 1

Chartered Accountants' Report to the Director on the Preparation of the Unaudited Statutory Accounts of
Academy Arts Limited
for the Year Ended 31 March 2017

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the accounts of Academy Arts Limited for the year ended 31 March 2017 as set out on pages 3 to 6 from the company's accounting records and from information and explanations you have given us.

As a practising member firm of the Institute of Chartered Accountants in England and Wales (ICAEW), we are subject to its ethical and other professional requirements which are detailed at
http://www.icaew.com/en/members/regulations-standards-and-guidance/.

This report is made solely to the Board of Directors of Academy Arts Limited, as a body, in accordance with the terms of our engagement letter. Our work has been undertaken solely to prepare for your approval the accounts of Academy Arts Limited and state those matters that we have agreed to state to the Board of Directors of Academy Arts Limited, as a body, in this report in accordance with ICAEW Technical Release 07/16 AAF. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than Academy Arts Limited and its Board of Directors as a body for our work or for this report.

It is your duty to ensure that Academy Arts Limited has kept adequate accounting records and to prepare statutory accounts that give a true and fair view of the assets, liabilities, financial position and profit of Academy Arts Limited. You consider that Academy Arts Limited is exempt from the statutory audit requirement for the year.

We have not been instructed to carry out an audit or a review of the accounts of Academy Arts Limited. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory accounts.

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

Mark Smith & Co
8 The Shrubberies
George Lane
South Woodford
London
E18 1BD

22 February 2018

Page 2

Academy Arts Limited

Profit and Loss Account for the Year Ended 31 March 2017

	Note	Total 31 March 2017 £	Total 31 March 2016 £
Turnover		98,270	86,822
Cost of raw materials and consumables		(37,401)	(30,552)
Staff costs		(30,013)	(23,287)
Depreciation and other amounts written off assets		(281)	(374)
Other charges		(19,348)	(36,253)
Profit/(loss) before tax		11,227	(3,644)
Taxation		(1,644)	-
Profit/(loss) for the year		9,583	(3,644)

The notes on page 5 form an integral part of these financial statements.

Page 3

Academy Arts Limited

(Registration number: 05580596)
Balance Sheet as at 31 March 2017

	Note	2017 £	2016 £
Fixed assets		841	1,122
Current assets		12,931	6,582
Creditors: Amounts falling due within one year		(6,597)	(10,053)
Net current assets/(liabilities)		6,334	(3,471)
Total assets less current liabilities		7,175	(2,349)
Accruals and deferred income		(715)	(775)
		6,460	(3,124)
Capital and reserves		6,460	(3,124)

The notes on page 5 form an integral part of these financial statements.

Page 4

Academy Arts Limited

(Registration number: 05580596)
Balance Sheet as at 31 March 2017

Notes to the Financial Statements for the Year Ended 31 March 2017

1	General information

The company is a private company limited by share capital incorporated in England & Wales.

The address of its registered office is:
8 The Shrubberies
George Lane
South Woodford
London
E18 1BD

The principal place of business is:
6a The Green
Writtle
Chelmsford
Essex
CM1 3DU

These financial statements were authorised for issue by the director on 22 February 2018.

Basis of preparation

These financial statements were prepared in accordance with Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.

Page 5

Academy Arts Limited

(Registration number: 05580596)
Balance Sheet as at 31 March 2017

These financial statements have been prepared in accordance with the micro-entity provisions of the Companies Act 2006 and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

For the financial year ending 31 March 2017 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Director's responsibilities:

•	The members have not required the company to obtain an audit of its accounts for the year in question in accordance with section 476; and
•	The director acknowledges her responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

Approved and authorised by the director on 22 February 2018

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

N Jones

Director

The notes on page 5 form an integral part of these financial statements.

Page 6