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REGISTERED NUMBER: 05559918 (England and Wales)











UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 OCTOBER 2023

FOR

CAMBRIDGE CONTEMPORARY ART LIMITED

CAMBRIDGE CONTEMPORARY ART LIMITED (REGISTERED NUMBER: 05559918)






CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 OCTOBER 2023




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


CAMBRIDGE CONTEMPORARY ART LIMITED

COMPANY INFORMATION
FOR THE YEAR ENDED 31 OCTOBER 2023







DIRECTOR: N Staples





REGISTERED OFFICE: Cambridge Contemporary Art
6 Trinity Street
Cambridge
CB2 1SU





REGISTERED NUMBER: 05559918 (England and Wales)





ACCOUNTANTS: Thompson Taraz Rand Ltd
Chartered Accountants
10 Jesus Lane
Cambridge
Cambridgeshire
CB5 8BA

CAMBRIDGE CONTEMPORARY ART LIMITED (REGISTERED NUMBER: 05559918)

BALANCE SHEET
31 OCTOBER 2023

2023 2022
Notes £    £   
FIXED ASSETS
Intangible assets 5 - -
Tangible assets 6 3,748 5,711
3,748 5,711

CURRENT ASSETS
Stocks 26,044 32,177
Debtors 7 35,363 31,736
Cash at bank 82,081 82,653
143,488 146,566
CREDITORS
Amounts falling due within one year 8 (114,368 ) (89,939 )
NET CURRENT ASSETS 29,120 56,627
TOTAL ASSETS LESS CURRENT LIABILITIES 32,868 62,338

PROVISIONS FOR LIABILITIES 10 (584 ) (929 )
NET ASSETS 32,284 61,409

CAPITAL AND RESERVES
Called up share capital 11 100 100
Retained earnings 32,184 61,309
SHAREHOLDERS' FUNDS 32,284 61,409

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 October 2023.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 October 2023 in accordance with Section 476 of the Companies Act 2006.

The director acknowledges her 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.

CAMBRIDGE CONTEMPORARY ART LIMITED (REGISTERED NUMBER: 05559918)

BALANCE SHEET - continued
31 OCTOBER 2023


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 Profit and loss account has not been delivered.

The financial statements were approved by the director and authorised for issue on 23 July 2024 and were signed by:





N Staples - Director


CAMBRIDGE CONTEMPORARY ART LIMITED (REGISTERED NUMBER: 05559918)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 OCTOBER 2023

1. STATUTORY INFORMATION

Cambridge Contemporary Art Limited 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. STATEMENT OF COMPLIANCE

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.

3. ACCOUNTING POLICIES

Basis of preparing the financial statements
The financial statements have been prepared under the historical cost convention.

Revenue recognition
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Revenue from sale of goods is recognised when goods are delivered and legal title has passed.

Goodwill
Goodwill being the amount arising on an acquisition of a business in 2005 is carried at cost less accumulated amortisation. Amortisation is calculated on a straight line basis over the useful economic life of 5 years.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off the cost less estimated residual value of each asset over its estimated useful life.
Fixtures and fittings - at varying rates on cost

At each balance sheet date, the company reviews the carrying amount of its tangible fixed assets to determine whether there is any indication that any items have suffered an impairment loss. If any such indication exists, the recoverable amount of an asset is estimated in order to determine the extent of the impairment loss, if any.

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
Basic financial assets and basic financial liabilities as defined under section 11 of FRS 102, including trade and other debtors, trade and other creditors, cash and bank balances and investments in commercial paper, are initially recognised at transaction price, unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest.

Hire purchase and leasing commitments
Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease.

CAMBRIDGE CONTEMPORARY ART LIMITED (REGISTERED NUMBER: 05559918)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 OCTOBER 2023

3. ACCOUNTING POLICIES - continued

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.

4. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 13 (2022 - 15 ) .

5. INTANGIBLE FIXED ASSETS
Goodwill
£   
COST
At 1 November 2022
and 31 October 2023 23,450
AMORTISATION
At 1 November 2022
and 31 October 2023 23,450
NET BOOK VALUE
At 31 October 2023 -
At 31 October 2022 -

6. TANGIBLE FIXED ASSETS
Fixtures
Plant and and Computer
machinery fittings equipment Totals
£    £    £    £   
COST
At 1 November 2022 840 59,284 6,670 66,794
Additions - - 3,162 3,162
Disposals - - (3,583 ) (3,583 )
At 31 October 2023 840 59,284 6,249 66,373
DEPRECIATION
At 1 November 2022 302 58,884 1,897 61,083
Charge for year 108 400 1,063 1,571
Eliminated on disposal - - (29 ) (29 )
At 31 October 2023 410 59,284 2,931 62,625
NET BOOK VALUE
At 31 October 2023 430 - 3,318 3,748
At 31 October 2022 538 400 4,773 5,711

CAMBRIDGE CONTEMPORARY ART LIMITED (REGISTERED NUMBER: 05559918)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 OCTOBER 2023

7. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Trade debtors 11,647 7,655
Other debtors 23,716 24,081
35,363 31,736

8. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Trade creditors 72,477 50,126
Corporation tax 2,554 2,317
Social security and other taxes 2,814 19,360
VAT 15,412 -
Other creditors 20,286 18,061
Director's loan account 825 75
114,368 89,939

9. SECURED DEBTS

There is a debenture in favour of Lloyds Bank in respect of any bank borrowings.

10. PROVISIONS FOR LIABILITIES
2023 2022
£    £   
Deferred tax 584 929

Deferred
tax
£   
Balance at 1 November 2022 929
Provided during year (345 )
Charge/(credit) for the year
Balance at 31 October 2023 584

The provision for deferred taxation is made up of accelerated capital allowances.

11. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 2023 2022
value: £    £   
50 Ordinary A £1 50 50
50 Ordinary B £1 50 50
100 100

CAMBRIDGE CONTEMPORARY ART LIMITED (REGISTERED NUMBER: 05559918)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 OCTOBER 2023

12. OTHER FINANCIAL COMMITMENTS

At 31 October 2023, the company had total commitments under non cancellable operating leases over the remaining life of those leases of £97,167 (2022: £155,467).

13. DIRECTOR'S ADVANCES, CREDITS AND GUARANTEES

The following advances and credits to a director subsisted during the years ended 31 October 2023 and 31 October 2022:

2023 2022
£    £   
N Staples
Balance outstanding at start of year (75 ) (7,768 )
Amounts advanced 41,362 47,005
Amounts repaid (42,112 ) (39,312 )
Amounts written off - -
Amounts waived - -
Balance outstanding at end of year (825 ) (75 )