2023-03-01 05052896 2024-02-29 05052896 2023-03-01 2024-02-29 05052896 2023-02-28 05052896 2022-03-01 2023-02-28 05052896 uk-core:WithinOneYear 2023-02-28 05052896 uk-core:WithinOneYear 2024-02-29 05052896 uk-core:ShareCapital 2024-02-29 05052896 uk-core:ShareCapital 2023-02-28 05052896 uk-core:RetainedEarningsAccumulatedLosses 2024-02-29 05052896 uk-core:RetainedEarningsAccumulatedLosses 2023-02-28 05052896 uk-bus:Director1 2023-03-01 2024-02-29 05052896 uk-core:Buildings 2023-03-01 2024-02-29 05052896 uk-core:ToolsEquipment 2023-03-01 2024-02-29 05052896 uk-core:FurnitureFittings 2023-03-01 2024-02-29 05052896 uk-core:ToolsEquipment 2023-02-28 05052896 uk-core:FurnitureFittings 2023-02-28 05052896 uk-core:Buildings 2023-02-28 05052896 uk-core:Buildings 2024-02-29 05052896 uk-core:FurnitureFittings 2024-02-29 05052896 uk-core:ToolsEquipment 2024-02-29 iso4217:GBP xbrli:pure 05052896 uk-bus:AuditExemptWithAccountantsReport 2023-03-01 2024-02-29 05052896 uk-bus:FRS102 2023-03-01 2024-02-29 05052896 uk-bus:FilletedAccounts 2023-03-01 2024-02-29 05052896 uk-bus:PrivateLimitedCompanyLtd 2023-03-01 2024-02-29
Fennelly Art Limited
Registered Number:05052896
For the year ended 29 February 2024
England and Wales
Unaudited Financial Statements
2
For the year ended 29 February 2024
Fennelly Art Limited
Contents Page
1
Statement of Financial Position
2 to 4
Notes to the Financial Statements
3
Registered Number :
05052896
As at 29 February 2024
Fennelly Art Limited
Statement of Financial Position
£
£
2023
2024
Notes
Fixed assets
Property, plant and equipment
965
433
2
965
433
Current assets
Inventories
1,200
1,200
3
Trade and other receivables
6,442
17,250
4
26,545
Cash and cash equivalents
23,310
41,760
34,187
Trade and other payables: amounts falling due within one year
(6,547)
(14,775)
5
27,640
26,985
Net current assets
Total assets less current liabilities
27,950
28,073
27,950
Net assets
28,073
Capital and reserves
Called up share capital
1
1
Retained earnings
27,949
28,072
27,950
28,073
Shareholders' funds
For the year ended 29 February 2024 the company was entitled to exemption from audit under Section 477 of the Companies Act 2006 relating to small companies.
The members have not required the company to obtain an audit of its financial statements for the year ended 29 February 2024 in accordance with Section 476 of the Companies Act 2006
The director acknowledges his responsibilities for:a) ensuring that the company keeps proper 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 Section 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.
In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered.
The financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.
Ian Fennelly Director
These financial statements were approved and authorised for issue by the Board on 11 November 2024 and were signed by:
The notes form part of these financial statements
1 of 4
4
For the year ended 29 February 2024
Fennelly Art Limited
Notes to the Financial Statements
Statutory Information
Fennelly Art Limited is a private limited company, limited by shares, domiciled in England and Wales, registration number
05052896.
Registered address:
38 Avondale Road
Hoylake
Wirral
Merseyside
CH47 3AS
The presentation currency is £ sterling.
1. Accounting policies
Basis of preparing the financial statements
These financial statements have been prepared in accordance with the provisions of Section 1A of Financial Reporting Standard
102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' and the Companies Act 2006. The
financial statements have been prepared under the historical costs convention as modified by the revaluation of certain assets.
Revenue recognition
Turnover comprises the invoiced value of goods and services supplied by the company, net of Value Added Tax and trade discounts.
Property, plant and equipment
Tangible fixed assets, other than freehold land, are stated at cost or valuation less depreciation and any provision for impairment. Depreciation is provided at rates calculated to write off the cost or valuation of fixed assets, less their estimated residual value, over their expected useful lives on the following basis:
Studio conversion
10% Straight line
25% Straight line
Computer equipment
25% Reducing balance
Fixtures and fittings
Inventories
Stocks are valued at the lower of cost and net realisable value after making due allowance for obsolete and slow moving items. Cost includes all direct costs and an appropriate proportion of fixed and variable overheads.
2 of 4
5
For the year ended 29 February 2024
Fennelly Art Limited
Notes to the Financial Statements Continued
2. Property, plant and equipment
Total
Computer
equipment
Fixtures and
fittings
Studio
conversion
£
£
£
£
Cost or valuation
At 01 March 2023
17,536
4,747
5,711
7,078
777
777
-
-
Additions
-
104
-
Disposals
104
At 29 February 2024
7,078
5,815
5,524
18,417
Provision for depreciation and impairment
At 01 March 2023
17,103
4,510
5,515
7,078
Charge for year
349
274
75
-
At 29 February 2024
17,452
4,784
5,590
7,078
At 29 February 2024
Net book value
-
225
740
965
At 28 February 2023
-
196
237
433
3. Inventories
2023
2024
£
£
Stocks
1,200
1,200
4. Trade and other receivables
2023
2024
£
£
Trade debtors
7,344
6,013
Other debtors
9,906
429
6,442
17,250
5. Trade and other payables: amounts falling due within one year
2023
2024
£
£
Taxation and social security
11,961
4,121
Other creditors
2,814
2,426
14,775
6,547
6. Average number of persons employed
During the year the average number of employees was 1 (2023 : 1)
3 of 4
6
For the year ended 29 February 2024
Fennelly Art Limited
Notes to the Financial Statements Continued
4 of 4