Delamore Arts Limited 05034703 false 2022-03-01 2023-02-28 2023-02-28 The principal activity of the company is that of organising art exhibitions. Digita Accounts Production Advanced 6.30.9574.0 true 05034703 2022-03-01 2023-02-28 05034703 2023-02-28 05034703 core:CurrentFinancialInstruments core:WithinOneYear 2023-02-28 05034703 core:FurnitureFittingsToolsEquipment 2023-02-28 05034703 bus:SmallEntities 2022-03-01 2023-02-28 05034703 bus:AuditExemptWithAccountantsReport 2022-03-01 2023-02-28 05034703 bus:FullAccounts 2022-03-01 2023-02-28 05034703 bus:SmallCompaniesRegimeForAccounts 2022-03-01 2023-02-28 05034703 bus:RegisteredOffice 2022-03-01 2023-02-28 05034703 bus:CompanySecretaryDirector1 2022-03-01 2023-02-28 05034703 bus:Director1 2022-03-01 2023-02-28 05034703 bus:Director2 2022-03-01 2023-02-28 05034703 bus:PrivateLimitedCompanyLtd 2022-03-01 2023-02-28 05034703 bus:Agent1 2022-03-01 2023-02-28 05034703 core:FurnitureFittingsToolsEquipment 2022-03-01 2023-02-28 05034703 core:OfficeEquipment 2022-03-01 2023-02-28 05034703 countries:EnglandWales 2022-03-01 2023-02-28 05034703 2022-02-28 05034703 core:FurnitureFittingsToolsEquipment 2022-02-28 05034703 2021-03-01 2022-02-28 05034703 2022-02-28 05034703 core:CurrentFinancialInstruments core:WithinOneYear 2022-02-28 05034703 core:FurnitureFittingsToolsEquipment 2022-02-28 iso4217:GBP xbrli:pure

Registration number: 05034703

Delamore Arts Limited

Annual Report and Unaudited Financial Statements

for the Year Ended 28 February 2023

 

Delamore Arts Limited

Contents

Company Information

1

Accountants' Report

2

Balance Sheet

3

Notes to the Financial Statements

4 to 6

 

Delamore Arts Limited

Company Information

Directors

Mr S M Butler

Mrs N Dollard

Mr G J Dollard

Company secretary

Mr G J Dollard

Registered office

6 Houndiscombe Road
Plymouth
Devon
PL4 6HH

Accountants

Houndiscombe Consultants Limited
T/A Condy Mathias Chartered Accountants
6 Houndiscombe Road
Plymouth
Devon
PL4 6HH

 

Chartered Accountants' Report to the Board of Directors on the Preparation of the Unaudited Statutory Accounts of
Delamore Arts Limited
for the Year Ended 28 February 2023

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the accounts of Delamore Arts Limited for the year ended 28 February 2023 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/regulation.

This report is made solely to the Board of Directors of Delamore 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 Delamore Arts Limited and state those matters that we have agreed to state to the Board of Directors of Delamore 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 Delamore Arts Limited and its Board of Directors as a body for our work or for this report.

It is your duty to ensure that Delamore 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 Delamore Arts Limited. You consider that Delamore 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 Delamore 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.

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

Houndiscombe Consultants Limited
T/A Condy Mathias Chartered Accountants
6 Houndiscombe Road
Plymouth
Devon
PL4 6HH

29 November 2023

 

Delamore Arts Limited

(Registration number: 05034703)
Balance Sheet as at 28 February 2023

Note

2023
£

2022
£

Fixed assets

 

Tangible assets

4

1,402

1,871

Current assets

 

Cash at bank and in hand

 

5,449

6,732

Creditors: Amounts falling due within one year

5

(23,181)

(8,216)

Net current liabilities

 

(17,732)

(1,484)

Total assets less current liabilities

 

(16,330)

387

Provisions for liabilities

(266)

(355)

Net (liabilities)/assets

 

(16,596)

32

Capital and reserves

 

Called up share capital

1,000

1,000

Retained earnings

(17,596)

(968)

Shareholders' (deficit)/funds

 

(16,596)

32

For the financial year ending 28 February 2023 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Directors' 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 directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

These financial statements have been prepared in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006.

These financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime and the option not to file the Profit and Loss Account has been taken.

Approved and authorised by the Board on 29 November 2023 and signed on its behalf by:
 

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

Mr G J Dollard

Company secretary and director

 

Delamore Arts Limited

Notes to the Financial Statements for the Year Ended 28 February 2023

1

General information

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

The address of its registered office is:
6 Houndiscombe Road
Plymouth
Devon
PL4 6HH
United Kingdom

The principal place of business is:
Delamore House
Delamore Estate
Cornwood
Ivybridge
Devon
PL21 9QT

2

Accounting policies

Summary of significant accounting policies and key accounting estimates

The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.

Statement of compliance

These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A smaller entities - 'The Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland' and the Companies Act 2006 (as applicable to companies subject to the small companies' regime).

Basis of preparation

These financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.

Revenue recognition

Turnover primarily comprises the fair value of the commission received for the facilitation of the sales of various artworks which are exhibited to potential customers on behalf of various artists, in the ordinary course of the company's activities. Turnover is shown net of value added tax, rebates and discounts.

The company recognises revenue when the sales of the artwork is agreed, as payment is received on the date of the sales.

Tangible assets

Tangible assets are stated in the balance sheet at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.

The cost of tangible assets includes directly attributable incremental costs incurred in their acquisition and installation.

 

Delamore Arts Limited

Notes to the Financial Statements for the Year Ended 28 February 2023

Depreciation

Depreciation is charged so as to write off the cost of assets, other than land and properties under construction over their estimated useful lives, as follows:

Asset class

Depreciation method and rate

Equipment

25% reducing balance

3

Staff numbers

The average number of persons employed by the company (including directors) during the year, was 6 (2022 - 5).

4

Tangible assets

Furniture, fittings and equipment
 £

Total
£

Cost or valuation

At 1 March 2022

12,323

12,323

At 28 February 2023

12,323

12,323

Depreciation

At 1 March 2022

10,452

10,452

Charge for the year

469

469

At 28 February 2023

10,921

10,921

Carrying amount

At 28 February 2023

1,402

1,402

At 28 February 2022

1,871

1,871

 

Delamore Arts Limited

Notes to the Financial Statements for the Year Ended 28 February 2023

5

Creditors

Creditors: amounts falling due within one year

2023
£

2022
£

Due within one year

Trade creditors

515

1,138

Taxation and social security

489

-

Accruals and deferred income

1,998

1,974

Other creditors

20,179

5,104

23,181

8,216

6

Dividends

During the year dividends were paid by the company that in retrospect exceeded the reserves available at the time. However this dividend is not illegal as the company had reason to believe that the necessary reserves were available for distribution at the time of payment. The overdrawn reserves will be rectified by the company making reduced dividend payments in the forthcoming financial year.