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REGISTERED NUMBER: 05131887 (England and Wales)















Unaudited Financial Statements

for the Year Ended

30 June 2024

for

Fine Art Ceramics Ltd

Fine Art Ceramics Ltd (Registered number: 05131887)

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










Page

Company Information 1

Chartered Accountants' Report 2

Balance Sheet 3

Notes to the Financial Statements 5


Fine Art Ceramics Ltd

Company Information
for the Year Ended 30 June 2024







DIRECTORS: I M Adams-Brown
P Long
H L Adams-Brown
C E Long





SECRETARY: I M Adams-Brown





REGISTERED OFFICE: Charnwood House
Harcourt Way
Meridian Business Park
Leicestershire
LE19 1WP





REGISTERED NUMBER: 05131887 (England and Wales)





ACCOUNTANTS: The Rowleys Partnership Ltd
Chartered Accountants
Charnwood House
Harcourt Way
Meridian Business Park
Leicester
Leicestershire
LE19 1WP

Chartered Accountants' Report to the Board of Directors
on the Unaudited Financial Statements of
Fine Art Ceramics Ltd


The following reproduces the text of the report prepared for the directors 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 Directors 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 Fine Art Ceramics Ltd for the year ended 30 June 2024 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.

As a practising member firm of the Institute of Chartered Accountants in England and Wales (ICAEW), we are subject to its ethical and other professional requirements which are detailed within the ICAEW's regulations and guidance at http://www.icaew.com/en/membership/regulations-standards-and-guidance.

This report is made solely to the Board of Directors of Fine Art Ceramics Ltd, as a body, in accordance with our terms of engagement. Our work has been undertaken solely to prepare for your approval the financial statements of Fine Art Ceramics Ltd and state those matters that we have agreed to state to the Board of Directors of Fine Art Ceramics Ltd, as a body, in this report in accordance with ICAEW Technical Release 07/16AAF. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than Fine Art Ceramics Ltd and its Board of Directors, as a body, for our work or for this report.

It is your duty to ensure that Fine Art Ceramics Ltd 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 Fine Art Ceramics Ltd. You consider that Fine Art Ceramics Ltd 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 Fine Art Ceramics Ltd. 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.






The Rowleys Partnership Ltd
Chartered Accountants
Charnwood House
Harcourt Way
Meridian Business Park
Leicester
Leicestershire
LE19 1WP


30 January 2025

Fine Art Ceramics Ltd (Registered number: 05131887)

Balance Sheet
30 June 2024

30.6.24 30.6.23
Notes £    £    £    £   
FIXED ASSETS
Intangible assets 4 - 57,631
Property, plant and equipment 5 16,917 24,278
16,917 81,909

CURRENT ASSETS
Inventories - 3,000
Debtors 6 254,550 304,164
Cash at bank and in hand 33,499 94,976
288,049 402,140
CREDITORS
Amounts falling due within one year 7 244,573 251,660
NET CURRENT ASSETS 43,476 150,480
TOTAL ASSETS LESS CURRENT
LIABILITIES

60,393

232,389

CREDITORS
Amounts falling due after more than
one year

8

(23,061

)

(89,632

)

PROVISIONS FOR LIABILITIES (1,622 ) (7,404 )
NET ASSETS 35,710 135,353

CAPITAL AND RESERVES
Called up share capital 9 1,000 1,000
Retained earnings 34,710 134,353
SHAREHOLDERS' FUNDS 35,710 135,353

Fine Art Ceramics Ltd (Registered number: 05131887)

Balance Sheet - continued
30 June 2024


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 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.

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 30 January 2025 and were signed on its behalf by:




I M Adams-Brown - Director



P Long - Director


Fine Art Ceramics Ltd (Registered number: 05131887)

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


1. STATUTORY INFORMATION

Fine Art Ceramics 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 represents sales of goods net of trade discounts. Turnover is recognised when the goods are physically delivered to the customer.

Goodwill
Goodwill, being the amount paid in connection with the acquisition of a business in 2005, is being amortised evenly over its estimated useful life of twenty years.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Leasehold improvements - over the term of the lease
Plant and machinery - 10% on cost
Fixtures and fittings - 20% on cost
Computer equipment - 33% on cost

Stocks
Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell. Cost includes all costs of purchase, costs of conversion and other costs incurred in bringing stock to its present location and condition. Cost is calculated using the first-in, first-out formula. Provision is made for damaged, obsolete and slow-moving stock where appropriate.

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.


Fine Art Ceramics Ltd (Registered number: 05131887)

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

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.

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 16 (2023 - 16 ) .

4. INTANGIBLE FIXED ASSETS
Goodwill
£   
COST
At 1 July 2023
and 30 June 2024 1,152,546
AMORTISATION
At 1 July 2023 1,094,915
Amortisation for year 57,631
At 30 June 2024 1,152,546
NET BOOK VALUE
At 30 June 2024 -
At 30 June 2023 57,631

Fine Art Ceramics Ltd (Registered number: 05131887)

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


5. PROPERTY, PLANT AND EQUIPMENT
Fixtures
Leasehold Plant and and Computer
improvements machinery fittings equipment Totals
£    £    £    £    £   
COST
At 1 July 2023 339,696 166,991 63,895 16,412 586,994
Additions 7,760 6,249 472 - 14,481
At 30 June 2024 347,456 173,240 64,367 16,412 601,475
DEPRECIATION
At 1 July 2023 321,493 161,808 63,895 15,520 562,716
Charge for year 18,926 2,115 95 706 21,842
At 30 June 2024 340,419 163,923 63,990 16,226 584,558
NET BOOK VALUE
At 30 June 2024 7,037 9,317 377 186 16,917
At 30 June 2023 18,203 5,183 - 892 24,278


6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
30.6.24 30.6.23
£    £   
Trade debtors 100,418 109,071
Other debtors 154,132 195,093
254,550 304,164

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
30.6.24 30.6.23
£    £   
Bank loans and overdrafts 66,571 70,496
Trade creditors 42,269 27,423
Taxation and social security 46,272 87,378
Other creditors 89,461 66,363
244,573 251,660

8. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR
30.6.24 30.6.23
£    £   
Bank loans 23,061 89,632

Fine Art Ceramics Ltd (Registered number: 05131887)

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


9. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 30.6.24 30.6.23
value: £    £   
1,000 Ordinary £1 1,000 1,000

10. OTHER FINANCIAL COMMITMENTS

The company had total guarantees and commitments at the balance sheet date of £73,000 (2023 £11,000).

11. DIRECTORS' ADVANCES, CREDITS AND GUARANTEES

The following advances and credits to directors subsisted during the years ended 30 June 2024 and 30 June 2023:

30.6.24 30.6.23
£    £   
I M Adams-Brown and H L Adams-Brown
Balance outstanding at start of year 89,708 98,614
Amounts advanced 59,063 97,597
Amounts repaid (80,000 ) (106,503 )
Amounts written off - -
Amounts waived - -
Balance outstanding at end of year 68,771 89,708

P Long and C E Long
Balance outstanding at start of year 87,087 78,939
Amounts advanced 59,575 88,491
Amounts repaid (80,000 ) (80,343 )
Amounts written off - -
Amounts waived - -
Balance outstanding at end of year 66,662 87,087

The loans are on an interest free basis and are repayable on demand.