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REGISTERED NUMBER: 06129514 (England and Wales)







UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 29 FEBRUARY 2024

FOR

ARTIQUE GALLERIES LIMITED

ARTIQUE GALLERIES LIMITED (REGISTERED NUMBER: 06129514)

CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 29 FEBRUARY 2024










Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


ARTIQUE GALLERIES LIMITED

COMPANY INFORMATION
FOR THE YEAR ENDED 29 FEBRUARY 2024







DIRECTORS: M G Wilson
J F N Wilson





REGISTERED OFFICE: 1 Homer Road
Solihull
West Midlands
B91 3QG





REGISTERED NUMBER: 06129514 (England and Wales)





ACCOUNTANTS: Prime
Chartered Accountants
Corner Oak
1 Homer Road
Solihull
B91 3QG

ARTIQUE GALLERIES LIMITED (REGISTERED NUMBER: 06129514)

BALANCE SHEET
29 FEBRUARY 2024

2024 2023
Notes £    £    £    £   
FIXED ASSETS
Intangible assets 4 - 56,000
Tangible assets 5 141,023 123,115
Investments 6 100 100
141,123 179,215

CURRENT ASSETS
Stocks 21,947 21,947
Debtors 7 976,330 1,136,881
Cash at bank and in hand 14,346 29,137
1,012,623 1,187,965
CREDITORS
Amounts falling due within one year 8 1,473,146 867,903
NET CURRENT (LIABILITIES)/ASSETS (460,523 ) 320,062
TOTAL ASSETS LESS CURRENT
LIABILITIES

(319,400

)

499,277

CREDITORS
Amounts falling due after more than one
year

9

67,370

111,500
NET (LIABILITIES)/ASSETS (386,770 ) 387,777

CAPITAL AND RESERVES
Called up share capital 100 100
Retained earnings (386,870 ) 387,677
(386,770 ) 387,777

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 29 February 2024.

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 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.

ARTIQUE GALLERIES LIMITED (REGISTERED NUMBER: 06129514)

BALANCE SHEET - continued
29 FEBRUARY 2024


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 29 November 2024 and were signed on its behalf by:





M G Wilson - Director


ARTIQUE GALLERIES LIMITED (REGISTERED NUMBER: 06129514)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 29 FEBRUARY 2024


1. STATUTORY INFORMATION

Artique Galleries 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. 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.

Goodwill
Goodwill, being the amount paid in connection with the acquisition of a business in 0, is being amortised evenly over its estimated useful life of nil years.

Intangible assets
Intangible assets are initially measured at cost. After initial recognition, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses.

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

Investments in subsidiaries
Investments in subsidiary undertakings are recognised at cost.

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.


ARTIQUE GALLERIES LIMITED (REGISTERED NUMBER: 06129514)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 29 FEBRUARY 2024


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.

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 26 (2023 - 21 ) .

4. INTANGIBLE FIXED ASSETS
Goodwill
£   
COST
At 1 March 2023
and 29 February 2024 70,000
AMORTISATION
At 1 March 2023 14,000
Charge for year 14,000
Impairments 42,000
At 29 February 2024 70,000
NET BOOK VALUE
At 29 February 2024 -
At 28 February 2023 56,000

ARTIQUE GALLERIES LIMITED (REGISTERED NUMBER: 06129514)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 29 FEBRUARY 2024


5. TANGIBLE FIXED ASSETS
Improvements Fixtures
to Plant and and Computer
property machinery fittings equipment Totals
£    £    £    £    £   
COST
At 1 March 2023 439,563 4,956 204,667 71,284 720,470
Additions 53,047 - 3,819 - 56,866
At 29 February 2024 492,610 4,956 208,486 71,284 777,336
DEPRECIATION
At 1 March 2023 332,969 4,956 195,668 63,762 597,355
Charge for year 33,786 - 3,101 2,071 38,958
At 29 February 2024 366,755 4,956 198,769 65,833 636,313
NET BOOK VALUE
At 29 February 2024 125,855 - 9,717 5,451 141,023
At 28 February 2023 106,594 - 8,999 7,522 123,115

6. FIXED ASSET INVESTMENTS
Shares in
group
undertakings
£   
COST
At 1 March 2023
and 29 February 2024 100
NET BOOK VALUE
At 29 February 2024 100
At 28 February 2023 100

7. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Trade debtors 27,131 190,259
Amounts owed by group undertakings 933,830 933,830
Other debtors 15,369 12,792
976,330 1,136,881

ARTIQUE GALLERIES LIMITED (REGISTERED NUMBER: 06129514)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 29 FEBRUARY 2024


8. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Bank loans and overdrafts 43,749 36,000
Trade creditors 1,298,104 671,174
Amounts owed to group undertakings - 19,713
Taxation and social security 42,322 46,267
Other creditors 88,971 94,749
1,473,146 867,903

9. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
2024 2023
£    £   
Bank loans 67,370 111,500

Amounts falling due in more than five years:

Repayable by instalments
Bank loans more 5 yr by instal - 5,500

10. POST BALANCE SHEET EVENT

After the balance sheet date, the company entered a Company Voluntary Arrangement (CVA) on 24 May 2024. The CVA was initiated to restructure the company's liabilities. This does not affect the financial position as of 29 February 2024.