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REGISTERED NUMBER: 01294213 (England and Wales)













Unaudited Financial Statements

for the Year Ended 30 June 2024

for

The Nine British Art Limited

The Nine British Art Limited (Registered number: 01294213)






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


The Nine British Art Limited

Company Information
for the Year Ended 30 June 2024







DIRECTORS: S M Paisnel
Mrs S M Paisnel





SECRETARY: S M Paisnel





REGISTERED OFFICE: Upper Ground Floor
18 Farnham Road
Guildford
Surrey
GU1 4XA





REGISTERED NUMBER: 01294213 (England and Wales)





ACCOUNTANTS: Bennewith 2018 Limited
t/a A J Bennewith & Co
Upper Ground Floor
18 Farnham Road
Guildford
Surrey
GU1 4XA

The Nine British Art Limited (Registered number: 01294213)

Balance Sheet
30 June 2024

30.6.24 30.6.23
Notes £    £   
FIXED ASSETS
Tangible assets 4 20,820 11,194

CURRENT ASSETS
Stocks 619,272 707,409
Debtors 5 74,542 23,009
Cash at bank 9,014 6,937
702,828 737,355
CREDITORS
Amounts falling due within one year 6 (714,522 ) (726,453 )
NET CURRENT (LIABILITIES)/ASSETS (11,694 ) 10,902
TOTAL ASSETS LESS CURRENT LIABILITIES 9,126 22,096

CREDITORS
Amounts falling due after more than one year 7 (9,166 ) (19,167 )

PROVISIONS FOR LIABILITIES (2,845 ) (933 )
NET (LIABILITIES)/ASSETS (2,885 ) 1,996

CAPITAL AND RESERVES
Called up share capital 100 100
Retained earnings (2,985 ) 1,896
(2,885 ) 1,996

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 Nine British Art Limited (Registered number: 01294213)

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 Board of Directors and authorised for issue on 20 March 2025 and were signed on its behalf by:





S M Paisnel - Director


The Nine British Art Limited (Registered number: 01294213)

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

1. STATUTORY INFORMATION

The Nine British 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.
Land and buildings - straight line over the life of the lease
Plant and machinery etc - 20% 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.

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.

The Nine British Art Limited (Registered number: 01294213)

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

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 4 (2023 - 4 ) .

4. TANGIBLE FIXED ASSETS
Plant and
Land and machinery
buildings etc Totals
£    £    £   
COST
At 1 July 2023 47,868 98,984 146,852
Additions - 14,831 14,831
Disposals (47,868 ) - (47,868 )
At 30 June 2024 - 113,815 113,815
DEPRECIATION
At 1 July 2023 47,868 87,790 135,658
Charge for year - 5,205 5,205
Eliminated on disposal (47,868 ) - (47,868 )
At 30 June 2024 - 92,995 92,995
NET BOOK VALUE
At 30 June 2024 - 20,820 20,820
At 30 June 2023 - 11,194 11,194

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
30.6.24 30.6.23
£    £   
Trade debtors 45,454 4,696
Other debtors 29,088 18,313
74,542 23,009

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
30.6.24 30.6.23
£    £   
Bank loans and overdrafts 533,787 307,000
Trade creditors 91,057 392,956
Taxation and social security 1,940 7,497
Other creditors 87,738 19,000
714,522 726,453

The Nine British Art Limited (Registered number: 01294213)

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

7. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR
30.6.24 30.6.23
£    £   
Bank loans 9,166 19,167

8. COMPANY NAME CHANGE

The Company changed its name on 19th December 2024 from Paisnel Gallery Limited to The Nine British Art Limited.