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Registration number: 06527952

Solange Azagury-Partridge Limited

Unaudited Financial Statements

for the Year Ended 31 July 2023

Brebners
Chartered Accountants
130 Shaftesbury Avenue
London
W1D 5AR

 

Solange Azagury-Partridge Limited

Contents

Company Information

1

Statement of Financial Position

2

Notes to the Unaudited Financial Statements

3 to 4

 

Solange Azagury-Partridge Limited

Company Information

Directors

S Azagury-Partridge

M Partridge

Registered office

130 Shaftesbury Avenue
2nd Floor
London
W1D 5EU

Accountants

Brebners
Chartered Accountants
130 Shaftesbury Avenue
London
W1D 5AR

 

Solange Azagury-Partridge Limited

Statement of Financial Position as at 31 July 2023

Note

2023
£

2022
£

Current assets

 

Debtors

4

994,422

996,916

Cash at bank and in hand

 

1,285

1,898

 

995,707

998,814

Creditors: Amounts falling due within one year

5

(1,260)

(1,500)

Total assets less current liabilities

 

994,447

997,314

Provisions for liabilities

(2)

(2)

Net assets

 

994,445

997,312

Capital and reserves

 

Called up share capital

1

1

Retained earnings

994,444

997,311

Shareholders' funds

 

994,445

997,312

For the financial year ending 31 July 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 and in accordance with FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.

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 Statement of Income and Retained Earnings has been taken.

Approved and authorised by the Board on 29 January 2024 and signed on its behalf by:
 

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

S Azagury-Partridge

Director

Company registration number: 06527952

 

Solange Azagury-Partridge Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 July 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:
130 Shaftesbury Avenue
2nd Floor
London
W1D 5EU

The principal activity of the company is that of the design of and dealing of fine art.

2

Accounting policies

Statement of compliance

These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A - 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' and the Companies Act 2006.

Basis of preparation

These financial statements have been prepared using the historical cost convention except any items disclosed in the accounting policies as being shown at fair value and are presented in sterling, which is the functional currency of the entity.

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.

Going concern

The company had net assets at 31 July 2023 of £994,445.

The company has no significant fixed overheads.

After making enquiries, the directors have a reasonable expectation that the company has adequate resources to continue in operational existence for the foreseeable future, being able to meet its obligations as they fall due.

Accordingly, on the basis of the above, the directors continue to adopt the going concern basis in preparing the annual report and financial statements.

Revenue recognition

Turnover comprises the fair value of the consideration received or receivable for the sale of goods in the ordinary course of the company's activities. Turnover is shown net of value added tax, returns, rebates and discounts.

The company recognises turnover from the sale of fine art when the transactions occurs and when the company has a right to receive economic benefit.

 

Solange Azagury-Partridge Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 July 2023

Foreign currency transactions and balances

Transactions in foreign currencies are initially recorded at the functional currency rate prevailing at the date of the transaction. Monetary assets and liabilities denominated in foreign currencies are retranslated into the respective functional currency of the entity at the rates prevailing on the reporting period date. Non-monetary items carried at fair value that are denominated in foreign currencies are retranslated at the rate on the date when the fair value is re-measured.

Non-monetary items measured in terms of historical cost in a foreign currency are not retranslated.

Cash and cash equivalents

Cash and cash equivalents comprise cash on hand and call deposits, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value.

Share capital

Ordinary shares are classified as equity. Equity instruments are measured at the fair value of the cash or other resources received or receivable, net of the direct costs of issuing the equity instruments. If payment is deferred and the time value of money is material, the initial measurement is on a present value basis.

3

Staff numbers

The average numbers of persons employed by the company during the year, was 0 (2022 - 0).

4

Debtors

2023
£

2022
£

Other debtors

994,422

996,916

994,422

996,916

5

Creditors

2023
£

2022
£

Due within one year

Other creditors

1,260

1,500

6

Commitments and guarantees

Amounts not provided for within the statement of financial position

The total financial commitments not included within the statement of financial position is £36,000 (2022: £60,000).