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
Paul Harris Art Selections Limited
Company Information
for the year ended 28 February 2023
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
Paul Harris Art Selections Limited
Statement of financial position
as at 28 February 2023
Investment property
625,000
625,000
Inventories
600,000
500,000
Cash at bank and in hand
90,000
126,000
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
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
Paul Harris Art Selections Limited
Notes to the Accounts
for the year ended 28 February 2023
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.
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.
The accounts have been prepared under the historical cost convention as modified by the revaluation of certain fixed assets.
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
At 28 February 2023
79,682
At 28 February 2023
78,999
Fair value at 1 March 2022
625,000
At 28 February 2023
625,000
Paul Harris Art Selections Limited
Notes to the Accounts
for the year ended 28 February 2023
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
7
Creditors: amounts falling due within one year
2023
2022
Taxes and social security
51,900
(49,000)
Loans from directors
(300,400)
(249,597)
8
Average number of employees
During the year the average number of employees was 1 (2022: 2).