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REGISTERED NUMBER: 12855455 (England and Wales)










UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 30 SEPTEMBER 2023

FOR

PATRICK MOORHEAD ANTIQUES LTD

PATRICK MOORHEAD ANTIQUES LTD (REGISTERED NUMBER: 12855455)

CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 SEPTEMBER 2023










Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 3


PATRICK MOORHEAD ANTIQUES LTD

COMPANY INFORMATION
FOR THE YEAR ENDED 30 SEPTEMBER 2023







DIRECTORS: P B Moorhead
H J Moorhead





REGISTERED OFFICE: Atlas Chambers
33 West Street
Brighton
BN1 2RE





REGISTERED NUMBER: 12855455 (England and Wales)





ACCOUNTANTS: Galloways Accounting
Atlas Chambers
33 West Street
Brighton
East Sussex
BN1 2RE

PATRICK MOORHEAD ANTIQUES LTD (REGISTERED NUMBER: 12855455)

BALANCE SHEET
30 SEPTEMBER 2023

2023 2022
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 5,569,295 5,517,777

CURRENT ASSETS
Stocks 2,243,550 2,178,550
Debtors 5 3,078,330 2,334,632
Cash in hand 12,500 5,707
5,334,380 4,518,889
CREDITORS
Amounts falling due within one year 6 2,189,407 1,848,629
NET CURRENT ASSETS 3,144,973 2,670,260
TOTAL ASSETS LESS CURRENT
LIABILITIES

8,714,268

8,188,037

CAPITAL AND RESERVES
Called up share capital 6,437,366 6,437,366
Retained earnings 2,276,902 1,750,671
SHAREHOLDERS' FUNDS 8,714,268 8,188,037

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

The members have not required the company to obtain an audit of its financial statements for the year ended 30 September 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 Income Statement has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 12 March 2024 and were signed on its behalf by:





P B Moorhead - Director


PATRICK MOORHEAD ANTIQUES LTD (REGISTERED NUMBER: 12855455)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 SEPTEMBER 2023


1. STATUTORY INFORMATION

Patrick Moorhead Antiques Ltd 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.

The presentation currency of the financial statements is the Pound Sterling (£).


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, in respect of rental income and other sundry receipts.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Plant and machinery - 20% on reducing balance
Fixtures and fittings - 20% on reducing balance
Motor vehicles - 20% on reducing balance
Computer equipment - 25% on reducing balance

Tangible fixed assets are stated at cost (or deemed cost) or valuation less accumulated depreciation and accumulated impairment losses. Cost includes costs directly attributable to making the asset capable of operating as intended.

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

Financial instruments
Debtors and creditors with no stated interest rate and receivable or payable within one year are recorded at transaction price. Any losses arising from impairment are recognised in the profit and loss account in other administrative expenses.

Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Income Statement, 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.

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.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 8 (2022 - 8 ) .

PATRICK MOORHEAD ANTIQUES LTD (REGISTERED NUMBER: 12855455)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 30 SEPTEMBER 2023


4. TANGIBLE FIXED ASSETS
Fixtures
Freehold Plant and and
property machinery fittings
£    £    £   
COST
At 1 October 2022 5,500,000 294 1,060
Additions - - -
At 30 September 2023 5,500,000 294 1,060
DEPRECIATION
At 1 October 2022 - 52 296
Charge for year - 48 153
At 30 September 2023 - 100 449
NET BOOK VALUE
At 30 September 2023 5,500,000 194 611
At 30 September 2022 5,500,000 242 764

Motor Computer
vehicles equipment Totals
£    £    £   
COST
At 1 October 2022 13,365 11,433 5,526,152
Additions 59,639 - 59,639
At 30 September 2023 73,004 11,433 5,585,791
DEPRECIATION
At 1 October 2022 5,638 2,389 8,375
Charge for year 5,659 2,261 8,121
At 30 September 2023 11,297 4,650 16,496
NET BOOK VALUE
At 30 September 2023 61,707 6,783 5,569,295
At 30 September 2022 7,727 9,044 5,517,777

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Trade debtors 327,949 278,123
Amounts owed by related companies 2,715,509 2,056,509
Other debtors 34,872 -
3,078,330 2,334,632

PATRICK MOORHEAD ANTIQUES LTD (REGISTERED NUMBER: 12855455)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 30 SEPTEMBER 2023


6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Bank loans and overdrafts 400,041 129,700
Trade creditors 28,924 2,111
Amounts owed to related companies 595,194 1,020,194
Taxation and social security 143,252 227,458
Other creditors 1,021,996 469,166
2,189,407 1,848,629