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REGISTERED NUMBER: 08112342 (England and Wales)

















Winterburn Fine Art Limited

Financial Statements for the Year Ended 30 June 2023






Winterburn Fine Art Limited (Registered number: 08112342)






Contents of the Financial Statements
for the year ended 30 June 2023




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


Winterburn Fine Art Limited

Company Information
for the year ended 30 June 2023







DIRECTORS: Mrs J Winterburn
Mr B Winterburn





REGISTERED OFFICE: 9 Market Place
Hedon
East Yorkshire
HU12 8JA





REGISTERED NUMBER: 08112342 (England and Wales)





ACCOUNTANTS: Southgates
Chartered Certified Accountants
9 Market Place
Hedon
East Yorkshire
HU12 8JA

Winterburn Fine Art Limited (Registered number: 08112342)

Balance Sheet
30 June 2023

2023 2022
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 72,471 79,854

CURRENT ASSETS
Stocks 5 18,875 18,500
Debtors 6 64,548 35,705
Cash at bank 47,392 43,750
130,815 97,955
CREDITORS
Amounts falling due within one year 7 113,107 103,203
NET CURRENT ASSETS/(LIABILITIES) 17,708 (5,248 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

90,179

74,606

CREDITORS
Amounts falling due after more than one
year

8

(13,967

)

(26,399

)

PROVISIONS FOR LIABILITIES (10,826 ) (9,043 )
NET ASSETS 65,386 39,164

CAPITAL AND RESERVES
Called up share capital 100 100
Retained earnings 65,286 39,064
SHAREHOLDERS' FUNDS 65,386 39,164

Winterburn Fine Art Limited (Registered number: 08112342)

Balance Sheet - continued
30 June 2023


The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30 June 2023.

The members have not required the company to obtain an audit of its financial statements for the year ended 30 June 2023 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 financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

In accordance with Section 444 of the Companies Act 2006, the Profit and Loss Account has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 13 September 2023 and were signed on its behalf by:





Mrs J Winterburn - Director


Winterburn Fine Art Limited (Registered number: 08112342)

Notes to the Financial Statements
for the year ended 30 June 2023

1. STATUTORY INFORMATION

Winterburn Fine Art Limited is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.

2. ACCOUNTING POLICIES

Basis of preparing the financial statements
These financial statements have been prepared in accordance with Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" including the provisions of Section 1A "Small Entities" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.

Turnover
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Leasehold property - Straight line over 10 years
Plant and machinery - 25% on reducing balance
Motor vehicles - 25% on reducing balance

Government grants
Government grants are recognised at fair value when there is reasonable assurance that the company will comply with the conditions attaching to them and the grants will be received. Grants related to purchase of assets are treated as deferred income and allocated to the profit and loss account over the useful lives of the related assets. Grants related to expenses are treated as income in the profit and loss account in the period they are receivable.

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

Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Profit and Loss Account, except to the extent that it relates to items recognised in other comprehensive income or directly in equity.

Current or deferred taxation assets and liabilities are not discounted.

Current tax is recognised at the amount of tax payable using the tax rates and laws that have been enacted or substantively enacted by the balance sheet date.

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

Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from those in which they are recognised in financial statements. Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the year end and that are expected to apply to the reversal of the timing difference.

Unrelieved tax losses and other deferred tax assets are recognised only to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits.

Hire purchase and leasing commitments
Rentals paid under operating leases are charged to profit or loss 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 profit or loss in the period to which they relate.

Winterburn Fine Art Limited (Registered number: 08112342)

Notes to the Financial Statements - continued
for the year ended 30 June 2023

2. ACCOUNTING POLICIES - continued

Financial instruments
Financial instruments are classified and accounted for, according to the substance of the contractual arrangement, as either financial assets, financial liabilities or equity instruments. An equity instrument is any contract that evidences a residual interest in the assets of the company after deducting all of its liabilities.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 3 (2022 - 3 ) .

4. TANGIBLE FIXED ASSETS
Leasehold Plant and Motor
property machinery vehicles Totals
£    £    £    £   
COST
At 1 July 2022 32,164 140,677 20,750 193,591
Additions - 11,612 - 11,612
Disposals - (1,039 ) - (1,039 )
At 30 June 2023 32,164 151,250 20,750 204,164
DEPRECIATION
At 1 July 2022 3,216 105,333 5,188 113,737
Charge for year 3,217 11,689 3,890 18,796
Eliminated on disposal - (840 ) - (840 )
At 30 June 2023 6,433 116,182 9,078 131,693
NET BOOK VALUE
At 30 June 2023 25,731 35,068 11,672 72,471
At 30 June 2022 28,948 35,344 15,562 79,854

5. STOCKS
2023 2022
£    £   
Stocks 18,875 18,500

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Trade debtors 62,300 24,090
Other debtors - 8,733
Prepayments 2,248 2,882
64,548 35,705

Winterburn Fine Art Limited (Registered number: 08112342)

Notes to the Financial Statements - continued
for the year ended 30 June 2023

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Bank loans and overdrafts 8,553 9,854
Trade creditors 29,808 5,491
Tax 22,607 -
Social security and other taxes 1,552 31
VAT 20,059 15,121
Directors' current accounts 26,731 3,010
Accruals 3,197 2,576
Accrued expenses 600 67,120
113,107 103,203

8. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR
2023 2022
£    £   
Bank loans - 2-5 years 13,967 26,399