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REGISTERED NUMBER: 07299161 (England and Wales)















Unaudited Financial Statements

for the Year Ended 30 June 2024

for

Houghton Art Ltd

Houghton Art Ltd (Registered number: 07299161)






Contents of the Financial Statements
for the Year Ended 30 June 2024




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


Houghton Art Ltd

Company Information
for the Year Ended 30 June 2024







DIRECTOR: J C Houghton





SECRETARY:





REGISTERED OFFICE: c/o Trio Accountancy Services Ltd
The Limes
Bayshill Road
Cheltenham
Gloucestershire
GL50 3AW





REGISTERED NUMBER: 07299161 (England and Wales)





ACCOUNTANTS: Trio Accountancy Services Ltd
The Limes
Bayshill Road
Cheltenham
Gloucestershire
GL50 3AW

Houghton Art Ltd (Registered number: 07299161)

Balance Sheet
30 June 2024

30.6.24 30.6.23
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 219,200 230,564

CURRENT ASSETS
Stocks 2,000 2,000
Debtors 5 10,063 (7,165 )
Cash at bank 48,833 110,068
60,896 104,903
CREDITORS
Amounts falling due within one year 6 50,785 68,679
NET CURRENT ASSETS 10,111 36,224
TOTAL ASSETS LESS CURRENT
LIABILITIES

229,311

266,788

CREDITORS
Amounts falling due after more than one
year

7

81,842

82,931
NET ASSETS 147,469 183,857

CAPITAL AND RESERVES
Called up share capital 100 100
Retained earnings 147,369 183,757
SHAREHOLDERS' FUNDS 147,469 183,857

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30 June 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 30 June 2024 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.

Houghton Art Ltd (Registered number: 07299161)

Balance Sheet - continued
30 June 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 director and authorised for issue on 31 December 2024 and were signed by:





J C Houghton - Director


Houghton Art Ltd (Registered number: 07299161)

Notes to the Financial Statements
for the Year Ended 30 June 2024

1. STATUTORY INFORMATION

Houghton Art Ltd 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.

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
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Plant and machinery - 15% on reducing balance
Fixtures and fittings - 15% on reducing balance
Motor vehicles - 25% on reducing balance
Computer equipment - 25% on reducing balance

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.

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.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 1 (2023 - 1 ) .

Houghton Art Ltd (Registered number: 07299161)

Notes to the Financial Statements - continued
for the Year Ended 30 June 2024

4. TANGIBLE FIXED ASSETS
Improvements
Freehold to Plant and
property property machinery
£    £    £   
COST
At 1 July 2023 153,266 9,894 553
Additions - - -
At 30 June 2024 153,266 9,894 553
DEPRECIATION
At 1 July 2023 - - 222
Charge for year - - 49
At 30 June 2024 - - 271
NET BOOK VALUE
At 30 June 2024 153,266 9,894 282
At 30 June 2023 153,266 9,894 331

Fixtures
and Motor Computer
fittings vehicles equipment Totals
£    £    £    £   
COST
At 1 July 2023 45,197 68,524 11,821 289,255
Additions 3,434 - 463 3,897
At 30 June 2024 48,631 68,524 12,284 293,152
DEPRECIATION
At 1 July 2023 23,334 26,048 9,087 58,691
Charge for year 3,794 10,619 799 15,261
At 30 June 2024 27,128 36,667 9,886 73,952
NET BOOK VALUE
At 30 June 2024 21,503 31,857 2,398 219,200
At 30 June 2023 21,863 42,476 2,734 230,564

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
30.6.24 30.6.23
£    £   
Trade debtors 10,063 (7,165 )

Houghton Art Ltd (Registered number: 07299161)

Notes to the Financial Statements - continued
for the Year Ended 30 June 2024

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
30.6.24 30.6.23
£    £   
Trade creditors 4,797 21,895
Tax 4,583 517
VAT 4,002 3,389
Directors' current accounts 35,753 41,228
Accrued expenses 1,650 1,650
50,785 68,679

7. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
30.6.24 30.6.23
£    £   
Bank loans more 5 yr by instal 81,842 82,931

Amounts falling due in more than five years:

Repayable by instalments
Bank loans more 5 yr by instal 81,842 82,931