1 March 2022 false No description of principal activity Taxfiler 2023.10.2 SC064145business:PrivateLimitedCompanyLtd2022-03-012023-02-28 SC0641452022-02-28 SC0641452022-03-012023-02-28 SC064145business:AuditExempt-NoAccountantsReport2022-03-012023-02-28 SC064145business:FilletedAccounts2022-03-012023-02-28 SC0641452023-02-28 SC064145business:Director12022-03-012023-02-28 SC064145business:RegisteredOffice2022-03-012023-02-28 SC0641452022-02-28 SC064145core:WithinOneYear2023-02-28 SC064145core:WithinOneYear2022-02-28 SC064145core:ShareCapitalcore:PreviouslyStatedAmount2023-02-28 SC064145core:ShareCapitalcore:PreviouslyStatedAmount2022-02-28 SC064145core:RetainedEarningsAccumulatedLossescore:PreviouslyStatedAmount2023-02-28 SC064145core:RetainedEarningsAccumulatedLossescore:PreviouslyStatedAmount2022-02-28 SC064145core:PreviouslyStatedAmount2023-02-28 SC064145core:PreviouslyStatedAmount2022-02-28 SC064145business:SmallEntities2022-03-012023-02-28 SC064145countries:Scotland2022-03-012023-02-28 SC064145core:FurnitureFittings2022-03-012023-02-28 SC064145core:FurnitureFittings2022-02-28 SC064145core:FurnitureFittings2023-02-28 SC0641452021-03-012022-02-28 iso4217:GBP xbrli:pure
Company Registration No. SC064145 (Scotland)
Paul Harris Art Selections Limited Financial Statements for the year ended 28 February 2023
Paul Harris Art Selections Limited Financial Statements Contents
Page
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Paul Harris Art Selections Limited Company Information for the year ended 28 February 2023
Director
Paul Harris
Company Number
SC064145 (Scotland)
Registered Office
110A Maxwell Ave Bearsden Glasgow G61 1HU
Accountants
The Glasgow Tax & Accountancy Centre 110A Maxwell Ave Bearsden Glasgow G61 1LD
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Paul Harris Art Selections Limited Statement of financial position as at 28 February 2023
2023 
2022 
Notes
£ 
£ 
Fixed assets
Tangible assets
683 
1,683 
Investment property
625,000 
625,000 
625,683 
626,683 
Current assets
Inventories
600,000 
500,000 
Debtors
95,000 
98,777 
Cash at bank and in hand
90,000 
126,000 
785,000 
724,777 
Creditors: amounts falling due within one year
229,500 
310,597 
Net current assets
1,014,500 
1,035,374 
Net assets
1,640,183 
1,662,057 
Capital and reserves
Called up share capital
100 
100 
Profit and loss account
1,640,083 
1,661,957 
Shareholders' funds
1,640,183 
1,662,057 
For the 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. The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The director acknowledges his 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.
The financial statements were approved by the Board and authorised for issue on 29 November 2023 and were signed on its behalf by
Paul Harris Director Company Registration No. SC064145
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Paul Harris Art Selections Limited Notes to the Accounts for the year ended 28 February 2023
1
Statutory information
Paul Harris Art Selections Limited is a private company, limited by shares, registered in Scotland, registration number SC064145. The registered office is 110A Maxwell Ave, Bearsden, Glasgow, G61 1HU.
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.
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:
Fixtures & fittings
25% reducing balance
4
Tangible fixed assets
Fixtures & fittings 
£ 
Cost or valuation
At cost 
At 1 March 2022
79,682 
At 28 February 2023
79,682 
Depreciation
At 1 March 2022
77,999 
Charge for the year
1,000 
At 28 February 2023
78,999 
Net book value
At 28 February 2023
683 
At 28 February 2022
1,683 
5
Investment property
2023 
£ 
Fair value at 1 March 2022
625,000 
At 28 February 2023
625,000 
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Paul Harris Art Selections Limited Notes to the Accounts for the year ended 28 February 2023
6
Debtors
2023 
2022 
£ 
£ 
Amounts falling due within one year
Trade debtors
10,000 
20,000 
Accrued income and prepayments
5,000 
6,000 
Other debtors
80,000 
72,777 
95,000 
98,777 
7
Creditors: amounts falling due within one year
2023 
2022 
£ 
£ 
VAT
3,000 
- 
Trade creditors
1,000 
- 
Taxes and social security
51,900 
(49,000)
Loans from directors
(300,400)
(249,597)
Accruals
15,000 
(12,000)
(229,500)
(310,597)
8
Average number of employees
During the year the average number of employees was 1 (2022: 2).
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