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REGISTERED NUMBER: 09102688 (England and Wales)















Unaudited Financial Statements for the Year Ended 30 June 2024

for

James Willis Art Limited

James Willis Art Limited (Registered number: 09102688)






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


James Willis Art Limited

Company Information
for the Year Ended 30 June 2024







DIRECTOR: J Willis





REGISTERED OFFICE: Second Floor
2 Walsworth Road
Hitchin
Hertfordshire
SG4 9SP





REGISTERED NUMBER: 09102688 (England and Wales)





ACCOUNTANTS: D and E Accountancy Ltd
Tax Advisors and Accountants
2nd Floor, 2 Walsworth Road
Hitchin
Hertfordshire
SG4 9SP

James Willis Art Limited (Registered number: 09102688)

Balance Sheet
30 June 2024

30.6.24 30.6.23
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 549 823

CURRENT ASSETS
Stocks 36,245 32,297
Cash at bank 5,918 4,891
42,163 37,188
CREDITORS
Amounts falling due within one year 5 40,529 24,877
NET CURRENT ASSETS 1,634 12,311
TOTAL ASSETS LESS CURRENT
LIABILITIES

2,183

13,134

PROVISIONS FOR LIABILITIES 6 104 157
NET ASSETS 2,079 12,977

CAPITAL AND RESERVES
Called up share capital 7 1 1
Retained earnings 8 2,078 12,976
SHAREHOLDERS' FUNDS 2,079 12,977

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.

James Willis Art Limited (Registered number: 09102688)

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 28 February 2025 and were signed by:





J Willis - Director


James Willis Art Limited (Registered number: 09102688)

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

1. STATUTORY INFORMATION

James Willis Art 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.

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 etc - 33% 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.

3. EMPLOYEES AND DIRECTORS

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

James Willis Art Limited (Registered number: 09102688)

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

4. TANGIBLE FIXED ASSETS
Plant and
machinery
etc
£   
COST
At 1 July 2023
and 30 June 2024 2,383
DEPRECIATION
At 1 July 2023 1,560
Charge for year 274
At 30 June 2024 1,834
NET BOOK VALUE
At 30 June 2024 549
At 30 June 2023 823

5. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
30.6.24 30.6.23
£    £   
Tax 9,574 6,449
Directors' current accounts 29,729 17,815
Accrued expenses 1,226 613
40,529 24,877

6. PROVISIONS FOR LIABILITIES
30.6.24 30.6.23
£    £   
Deferred tax 104 157

Deferred
tax
£   
Balance at 1 July 2023 157
Credit to Income Statement during year (53 )
Balance at 30 June 2024 104

7. CALLED UP SHARE CAPITAL

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

James Willis Art Limited (Registered number: 09102688)

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

8. RESERVES
Retained
earnings
£   

At 1 July 2023 12,976
Profit for the year 13,102
Dividends (24,000 )
At 30 June 2024 2,078

9. ULTIMATE CONTROLLING PARTY

The controlling party is J Willis.