REGISTERED NUMBER: |
Unaudited Financial Statements |
for the Year Ended 31 December 2023 |
for |
Eden Fine Art London Limited |
REGISTERED NUMBER: |
Unaudited Financial Statements |
for the Year Ended 31 December 2023 |
for |
Eden Fine Art London Limited |
Eden Fine Art London Limited (Registered number: 09386652) |
Contents of the Financial Statements |
for the year ended 31 December 2023 |
Page |
Company Information | 1 |
Balance Sheet | 2 |
Notes to the Financial Statements | 3 |
Accountants' Report | 6 |
Eden Fine Art London Limited |
Company Information |
for the year ended 31 December 2023 |
DIRECTOR: |
REGISTERED OFFICE: |
REGISTERED NUMBER: |
ACCOUNTANTS: |
1-2 Charterhouse Mews |
London |
EC1M 6BB |
Eden Fine Art London Limited (Registered number: 09386652) |
Balance Sheet |
31 December 2023 |
2023 | 2022 |
Notes | £ | £ |
FIXED ASSETS |
Tangible assets | 4 |
CURRENT ASSETS |
Debtors | 5 |
Cash at bank and in hand |
CREDITORS |
Amounts falling due within one year | 6 | ( |
) | ( |
) |
NET CURRENT ASSETS |
TOTAL ASSETS LESS CURRENT LIABILITIES |
CAPITAL AND RESERVES |
Called up share capital |
Retained earnings |
SHAREHOLDERS' FUNDS |
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. |
The financial statements were approved by the director and authorised for issue on |
Eden Fine Art London Limited (Registered number: 09386652) |
Notes to the Financial Statements |
for the year ended 31 December 2023 |
1. | STATUTORY INFORMATION |
Eden Fine Art London Limited is a |
2. | ACCOUNTING POLICIES |
Basis of preparing the financial statements |
Turnover |
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. |
Tangible fixed assets |
Leasehold Improvements - 22% Straight line |
Furniture & Fixtures - 20% Straight line |
Computer Equipment - 33% Straight line |
Motor Vehicles - 5 Year Straight line |
Plant & Machinery - 20% Straight line |
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. |
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. |
Eden Fine Art London Limited (Registered number: 09386652) |
Notes to the Financial Statements - continued |
for the year ended 31 December 2023 |
2. | ACCOUNTING POLICIES - continued |
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. |
At the balance sheet date the company has the following commitments under an operating lease that can expire after 4 years of: |
£ |
Rent due within 1 year | 1,215,000 |
Rent due between 1 and 5 years | 1,501,273 |
2,716,273 |
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 |
4. | TANGIBLE FIXED ASSETS |
Plant and |
machinery |
etc |
£ |
COST |
At 1 January 2023 |
Additions |
Disposals | ( |
) |
At 31 December 2023 |
DEPRECIATION |
At 1 January 2023 |
Charge for year |
Eliminated on disposal | ( |
) |
At 31 December 2023 |
NET BOOK VALUE |
At 31 December 2023 |
At 31 December 2022 |
Eden Fine Art London Limited (Registered number: 09386652) |
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 |
Amounts owed by associates |
Other debtors |
6. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
2023 | 2022 |
£ | £ |
Trade creditors |
Amounts owed to associates | 43,149 | 1,468 |
Taxation and social security |
Other creditors |
7. | RELATED PARTY DISCLOSURES |
At the balance sheet date the following balances were outstanding: |
£ |
Balance due from Eden Gallery Ltd | 1,971,686 |
Balance due from Eden Fine Art Mykonos Ike | 712,396 |
Balance due from Eden Fine Art NY Inc (Madison) | 154,139 |
Balance due from Eden Fine Art Aspen Inc | 355,688 |
Balance due from Eden Fine Art Dubai Inc | 237,885 |
Balance due from Care Creations NY Inc (Soho) | 338,480 |
Balance due to Eden Fine Art Miami Inc | 26,561 |
Balance due to Eden Gallery 5th Avenue | 16,588 |
8. | ULTIMATE CONTROLLING PARTY |
The ultimate controlling party is |
9. | CASH AND CASH EQUIVALENTS |
Cash and cash equivalents are included in the balance sheet at cost. Cash and cash equivalents comprise of cash within the bank. |
Accountants' Report to the Director |
on the Unaudited Financial Statements of |
Eden Fine Art London Limited |
The following reproduces the text of the report prepared for the director in respect of the company's annual unaudited financial statements. In accordance with the Companies Act 2006, the company is only required to file a Balance Sheet. Readers are cautioned that the Income Statement and certain other primary statements and the Report of the Director are not required to be filed with the Registrar of Companies. |
In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the financial statements of Eden Fine Art London Limited for the year ended 31 December 2023 which comprise the Income Statement, Balance Sheet and the related notes from the company's accounting records and from information and explanations you have given us. |
This report is made solely to the director of Eden Fine Art London Limited in accordance with our terms of engagement. Our work has been undertaken solely to prepare for your approval the financial statements of and Eden Fine Art London Limited state those matters that we have agreed to state to the director of Eden Fine Art London Limited. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than Eden Fine Art London Limited and its director for our work or for this report. |
It is your duty to ensure that Eden Fine Art London Limited has kept adequate accounting records and to prepare statutory financial statements that give a true and fair view of the assets, liabilities, financial position and profit of Eden Fine Art London Limited. You consider that Eden Fine Art London Limited is exempt from the statutory audit requirement for the year. |
We have not been instructed to carry out an audit or a review of the financial statements of Eden Fine Art London Limited. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory financial statements. |
1-2 Charterhouse Mews |
London |
EC1M 6BB |