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REGISTERED NUMBER: 10244969 (England and Wales)















Unaudited Financial Statements

for the Year Ended 30 June 2024

for

Seventh Avenue Arts Ltd

Seventh Avenue Arts Ltd (Registered number: 10244969)






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




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 3


Seventh Avenue Arts Ltd

Company Information
for the Year Ended 30 June 2024







DIRECTORS: D T Haynes
P J Richards





REGISTERED OFFICE: 794 High Street
Kingswinford
West Midlands
DY6 8BQ





BUSINESS ADDRESS: 130 New Street
Brierley Hill
West Midlands
DY5 2BB





REGISTERED NUMBER: 10244969 (England and Wales)





ACCOUNTANTS: Dalton Pardoe Limited
Chartered Accountants
794 High Street
Kingswinford
West Midlands
DY6 8BQ

Seventh Avenue Arts Ltd (Registered number: 10244969)

Balance Sheet
30 June 2024

30.6.24 30.6.23
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 23,737 29,850

CURRENT ASSETS
Stocks 1,500 1,130
Debtors 5 10,321 61
Cash at bank 24,492 9,901
36,313 11,092
CREDITORS
Amounts falling due within one year 6 45,605 20,009
NET CURRENT LIABILITIES (9,292 ) (8,917 )
TOTAL ASSETS LESS CURRENT LIABILITIES 14,445 20,933

CREDITORS
Amounts falling due after more than one year 7 7,348 30,091
NET ASSETS/(LIABILITIES) 7,097 (9,158 )

CAPITAL AND RESERVES
Called up share capital 8 100 100
Retained earnings 9 6,997 (9,258 )
SHAREHOLDERS' FUNDS 7,097 (9,158 )

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 25 March 2025 and were signed on its behalf by:




P J Richards - Director


Seventh Avenue Arts Ltd (Registered number: 10244969)

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

1. STATUTORY INFORMATION

Seventh Avenue Arts 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.
Motor vehicles - 25% on reducing balance
Computer equipment - 50% 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 2 (2023 - 2 ) .

Seventh Avenue Arts Ltd (Registered number: 10244969)

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

4. TANGIBLE FIXED ASSETS
Plant and Motor Computer
machinery vehicles equipment Totals
£    £    £    £   
COST
At 1 July 2023 1,888 37,195 9,556 48,639
Additions - - 3,083 3,083
At 30 June 2024 1,888 37,195 12,639 51,722
DEPRECIATION
At 1 July 2023 524 11,274 6,991 18,789
Charge for year 204 6,168 2,824 9,196
At 30 June 2024 728 17,442 9,815 27,985
NET BOOK VALUE
At 30 June 2024 1,160 19,753 2,824 23,737
At 30 June 2023 1,364 25,921 2,565 29,850

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
30.6.24 30.6.23
£    £   
Trade debtors 10,321 -
VAT - 61
10,321 61

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
30.6.24 30.6.23
£    £   
Bank loans and overdrafts 8,721 4,550
Hire purchase contracts 4,996 8,491
Tax 9,929 2,290
Social security and other taxes 1,887 1,275
VAT 5,703 -
Directors' current accounts 13,846 2,923
Accrued expenses 523 480
45,605 20,009

7. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR
30.6.24 30.6.23
£    £   
Bank loans - 1-2 years - 4,550
Bank loans - 2-5 years - 4,171
Hire purchase contracts 7,348 21,370
7,348 30,091

Seventh Avenue Arts Ltd (Registered number: 10244969)

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

8. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 30.6.24 30.6.23
value: £    £   
100 Ordinary £1 100 100

9. RESERVES
Retained
earnings
£   

At 1 July 2023 (9,258 )
Profit for the year 26,455
Dividends (10,200 )
At 30 June 2024 6,997

10. RELATED PARTY DISCLOSURES

The company paid dividends to directors in the year under review as follow:

Mr D T Haynes £5,100
Mr P J Richards £5,100

11. ULTIMATE CONTROLLING PARTY

The controlling party is D T Haynes.

The company is owned by the directors who each own 40 % of the share capital.