Registration number:
Acquisition Fine Art
(A company limited by guarantee)
for the Year Ended 31 October 2023
Acquisition Fine Art
Contents
Company Information |
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Balance Sheet |
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Notes to the Unaudited Financial Statements |
Acquisition Fine Art
Company Information
Directors |
Claire Gastaldi Xavier Zeis Claudia Saumarez Golan Zulman |
Registered office |
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Accountants |
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Acquisition Fine Art
(Registration number: 09843855)
Balance Sheet as at 31 October 2023
Note |
2023 |
2022 |
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Current assets |
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Debtors |
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Cash at bank and in hand |
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Reserves |
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Other reserves |
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Surplus |
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For the financial year ending 31 October 2023 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
Directors' responsibilities:
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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.
These financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime. As permitted by section 444 (5A) of the Companies Act 2006, the directors have not delivered to the registrar a copy of the Profit and Loss Account.
Approved and authorised by the
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Acquisition Fine Art
Notes to the Unaudited Financial Statements for the Year Ended 31 October 2023
General information |
The company is a company limited by guarantee, incorporated in England and Wales, and consequently does not have share capital. Each of the members is liable to contribute an amount not exceeding £5,734,486 towards the assets of the company in the event of liquidation.
The address of its registered office is:
United Kingdom
These financial statements were authorised for issue by the
Accounting policies |
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.
Statement of compliance
These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A smaller entities - 'The Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland' and the Companies Act 2006 (as applicable to companies subject to the small companies' regime).
Basis of preparation
These financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.
Going concern
The financial statements have been prepared on a going concern basis.
Revenue recognition
Turnover comprises the fair value of the consideration received or receivable for the sale of goods and provision of services in the ordinary course of the company’s activities. Turnover is shown net of sales/value added tax, returns, rebates and discounts.
The company recognises revenue when:
The amount of revenue can be reliably measured;
it is probable that future economic benefits will flow to the entity;
and specific criteria have been met for each of the company's activities.
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.
Acquisition Fine Art
Notes to the Unaudited Financial Statements for the Year Ended 31 October 2023
Trade debtors
Trade debtors are amounts due from customers for merchandise sold or services performed in the ordinary course of business.
Trade debtors are recognised initially at the transaction price. They are subsequently measured at amortised cost using the effective interest method, less provision for impairment. A provision for the impairment of trade debtors is established when there is objective evidence that the company will not be able to collect all amounts due according to the original terms of the receivables.
Staff numbers |
The average number of persons employed by the company (including directors) during the year, was
Debtors |
Current |
Note |
2023 |
2022 |
Amounts owed by related parties |
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Reserves |
The changes to each component of equity resulting from items of other comprehensive income for the current year were as follows:
Other reserves |
Total |
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Increase in members funds |
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The changes to each component of equity resulting from items of other comprehensive income for the prior year were as follows:
Other reserves |
Total |
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Increase in members funds |
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Related party transactions |
Acquisition Fine Art
Notes to the Unaudited Financial Statements for the Year Ended 31 October 2023
Directors' remuneration
The directors' remuneration for the year was as follows:
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2022 |
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Remuneration |
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Made up as follows: - |
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Claire Gastaldi |
655,944 |
655,944 |
Claudia Saumarez |
324,000 |
324,000 |
Xavier Zeis |
324,000 |
324,000 |
Golan Zulman |
324,000 |
324,000 |