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REGISTERED NUMBER: 11977600 (England and Wales)









UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MAY 2024

FOR

THE ORIGINAL ARTSHOP 2019 LIMITED

THE ORIGINAL ARTSHOP 2019 LIMITED (REGISTERED NUMBER: 11977600)






CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MAY 2024




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


THE ORIGINAL ARTSHOP 2019 LIMITED

COMPANY INFORMATION
FOR THE YEAR ENDED 31 MAY 2024







DIRECTOR: Ms J Kinley





REGISTERED OFFICE: 4 Nalders Court
Pydar Street
TRURO
TR1 2XH





REGISTERED NUMBER: 11977600 (England and Wales)





ACCOUNTANTS: TC Group
The Old Carriage Works
Moresk Road
Truro
Cornwall
TR1 1DG

THE ORIGINAL ARTSHOP 2019 LIMITED (REGISTERED NUMBER: 11977600)

BALANCE SHEET
31 MAY 2024

2024 2023
Notes £    £    £    £   
FIXED ASSETS
Intangible assets 4 14,786 17,786
Tangible assets 5 7,264 7,643
22,050 25,429

CURRENT ASSETS
Stocks 4,000 4,000
Cash at bank and in hand 4,121 5,597
8,121 9,597
CREDITORS
Amounts falling due within one year 7 64,296 65,582
NET CURRENT LIABILITIES (56,175 ) (55,985 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

(34,125

)

(30,556

)

CREDITORS
Amounts falling due after more than one year 8 2,024 2,904
NET LIABILITIES (36,149 ) (33,460 )

CAPITAL AND RESERVES
Called up share capital 1 1
Retained earnings (36,150 ) (33,461 )
(36,149 ) (33,460 )

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 May 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 May 2024 in accordance with Section 476 of the Companies Act 2006.

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 ORIGINAL ARTSHOP 2019 LIMITED (REGISTERED NUMBER: 11977600)

BALANCE SHEET - continued
31 MAY 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 15 January 2025 and were signed by:





Ms J Kinley - Director


THE ORIGINAL ARTSHOP 2019 LIMITED (REGISTERED NUMBER: 11977600)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MAY 2024

1. STATUTORY INFORMATION

The Original Artshop 2019 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.

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 Note

Although the company shows a position of net current liabilities, the financial statements have been prepared on a going concern basis. The directors have a reasonable expectation that the company has adequate resources to continue in operational existence for the foreseeable future. Thus, they continue to adopt the going concern basis of accounting in preparing the annual financial statements.

Turnover
Revenue is recognised for the sale of artwork and framing services when the entity has transferred the significant risks and rewards of ownership to the customers, it is probable that the economic benefit will flow to the entity and the revenue and associated costs can be reliably measured.

Goodwill
Goodwill, being the amount paid in connection with the acquisition of a business in 2019, is being amortised evenly over its estimated useful life of ten 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.

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.


THE ORIGINAL ARTSHOP 2019 LIMITED (REGISTERED NUMBER: 11977600)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 MAY 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 2 (2023 - NIL ) .

4. INTANGIBLE FIXED ASSETS
Goodwill
£   
COST
At 1 June 2023
and 31 May 2024 30,000
AMORTISATION
At 1 June 2023 12,214
Charge for year 3,000
At 31 May 2024 15,214
NET BOOK VALUE
At 31 May 2024 14,786
At 31 May 2023 17,786

THE ORIGINAL ARTSHOP 2019 LIMITED (REGISTERED NUMBER: 11977600)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 MAY 2024

5. TANGIBLE FIXED ASSETS
Plant and
Land and machinery
buildings etc Totals
£    £    £   
COST
At 1 June 2023
and 31 May 2024 8,382 1,524 9,906
DEPRECIATION
At 1 June 2023 1,083 1,181 2,264
Charge for year 271 107 378
At 31 May 2024 1,354 1,288 2,642
NET BOOK VALUE
At 31 May 2024 7,028 236 7,264
At 31 May 2023 7,299 343 7,642

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Bank loans and overdrafts 1,450 5,226
Trade creditors 2,192 1,504
Taxation and social security 7,716 5,751
Other creditors 52,938 53,101
64,296 65,582

8. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
2024 2023
£    £   
Bank loans 2,024 2,904

9. RELATED PARTY DISCLOSURES

At the balance sheet date The Original Art Shop 2019 Limited owed £51,470 to Ms J Kinley by way of a directors loan. The loan is interest free and repayable on demand.