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REGISTERED NUMBER: 10377379 (England and Wales)















UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2023

FOR

BENAPPI FINE ART LIMITED

BENAPPI FINE ART LIMITED (REGISTERED NUMBER: 10377379)






CONTENTS OF THE FINANCIAL STATEMENTS
for the Year Ended 31 December 2023




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


BENAPPI FINE ART LIMITED

COMPANY INFORMATION
for the Year Ended 31 December 2023







DIRECTOR: H Gready





REGISTERED OFFICE: 15 Hanover Square
London
W1S 1HS





REGISTERED NUMBER: 10377379 (England and Wales)





ACCOUNTANTS: Vera Group Ltd
15 Hanover Square
London
W1S 1HS

BENAPPI FINE ART LIMITED (REGISTERED NUMBER: 10377379)

BALANCE SHEET
31 December 2023

2023 2022
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 13,464 31,904

CURRENT ASSETS
Stocks 4,099,368 4,099,368
Debtors 5 674,706 444,385
Cash at bank 14,817 64,846
4,788,891 4,608,599
CREDITORS
Amounts falling due within one year 6 4,922,089 4,955,418
NET CURRENT LIABILITIES (133,198 ) (346,819 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

(119,734

)

(314,915

)

CAPITAL AND RESERVES
Called up share capital 1,000 1,000
Retained earnings (120,734 ) (315,915 )
(119,734 ) (314,915 )

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

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

The director acknowledges his 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.

BENAPPI FINE ART LIMITED (REGISTERED NUMBER: 10377379)

BALANCE SHEET - continued
31 December 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 Income Statement has not been delivered.

The financial statements were approved by the director and authorised for issue on 18 September 2024 and were signed by:





H Gready - Director


BENAPPI FINE ART LIMITED (REGISTERED NUMBER: 10377379)

NOTES TO THE FINANCIAL STATEMENTS
for the Year Ended 31 December 2023

1. STATUTORY INFORMATION

Benappi Fine 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.

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.

Going concern
The financial statements have been prepared on the going concern basis. At the balance sheet date the company has net current liabilities. The director is of the opinion that the shareholders of the company will support it, and provide adequate funding necessary to enable it to meet its obligations for the foreseeable future, being for period of at least twelve months from the date of the financial statements.

Turnover
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.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Short leasehold - in accordance with the property
Fixtures and fittings - in accordance with the property
Computer equipment - straight line over 3 years

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

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.


BENAPPI FINE ART LIMITED (REGISTERED NUMBER: 10377379)

NOTES TO THE FINANCIAL STATEMENTS - continued
for the Year Ended 31 December 2023

2. ACCOUNTING POLICIES - continued
Deferred tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date.

Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from those in which they are recognised in financial statements. Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the year end and that are expected to apply to the reversal of the timing difference.

Unrelieved tax losses and other deferred tax assets are recognised only to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits.

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.

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 2 (2022 - 2 ) .

4. TANGIBLE FIXED ASSETS
Fixtures
Short and Computer
leasehold fittings equipment Totals
£    £    £    £   
COST
At 1 January 2023
and 31 December 2023 60,000 72,999 8,434 141,433
DEPRECIATION
At 1 January 2023 48,138 54,400 6,991 109,529
Charge for year 7,886 9,595 959 18,440
At 31 December 2023 56,024 63,995 7,950 127,969
NET BOOK VALUE
At 31 December 2023 3,976 9,004 484 13,464
At 31 December 2022 11,862 18,599 1,443 31,904

BENAPPI FINE ART LIMITED (REGISTERED NUMBER: 10377379)

NOTES TO THE FINANCIAL STATEMENTS - continued
for the Year Ended 31 December 2023

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Trade debtors 520,180 308,404
Other debtors 154,526 135,981
674,706 444,385

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Trade creditors 342,090 211,662
Amounts owed to group undertakings 4,575,952 4,735,559
Taxation and social security - 75
Other creditors 4,047 8,122
4,922,089 4,955,418