Company registration number 08632999 (England and Wales)
BEAUMONT NATHAN FINE ART LIMITED
UNAUDITED FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 AUGUST 2024
PAGES FOR FILING WITH REGISTRAR
BEAUMONT NATHAN FINE ART LIMITED
CONTENTS
Page
Balance sheet
1 - 2
Notes to the financial statements
3 - 8
BEAUMONT NATHAN FINE ART LIMITED
BALANCE SHEET
AS AT
31 AUGUST 2024
31 August 2024
- 1 -
2024
2023
Notes
£
£
£
£
Fixed assets
Tangible assets
3
69,190
19,046
Investments
4
1
1
69,191
19,047
Current assets
Debtors
6
609,303
342,152
Cash at bank and in hand
955,742
3,018,365
1,565,045
3,360,517
Creditors: amounts falling due within one year
7
(574,663)
(1,990,675)
Net current assets
990,382
1,369,842
Total assets less current liabilities
1,059,573
1,388,889
Provisions for liabilities
(14,697)
(3,195)
Net assets
1,044,876
1,385,694
Capital and reserves
Called up share capital
8
111
111
Share premium account
46,651
46,651
Capital redemption reserve
11
11
Profit and loss reserves
998,103
1,338,921
Total equity
1,044,876
1,385,694

The directors of the company have elected not to include a copy of the profit and loss account within the financial statements.true

For the financial year ended 31 August 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.

The members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476.

These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

BEAUMONT NATHAN FINE ART LIMITED
BALANCE SHEET (CONTINUED)
AS AT
31 AUGUST 2024
31 August 2024
- 2 -
The financial statements were approved by the board of directors and authorised for issue on 6 May 2025 and are signed on its behalf by:
Mr C B Pearson
Director
Company Registration No. 08632999
BEAUMONT NATHAN FINE ART LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 AUGUST 2024
- 3 -
1
Accounting policies
Company information

Beaumont Nathan Fine Art Limited is a private company limited by shares incorporated in England and Wales. The company registration number is 08632999. The registered office is 2nd Floor, 31 Dover Street, London, W1S 4ND.

1.1
Accounting convention

These financial statements have been prepared in accordance with FRS 102 “The Financial Reporting Standard applicable in the UK and Republic of Ireland” (“FRS 102”) and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime. The disclosure requirements of section 1A of FRS 102 have been applied other than where additional disclosure is required to show a true and fair view.

The financial statements are prepared in sterling, which is the functional currency of the company. Monetary amounts in these financial statements are rounded to the nearest £.

The financial statements have been prepared under the historical cost convention. The principal accounting policies adopted are set out below.

1.2
Going concern

The company has significant cash resources and no requirement for external funding. Having considered the forecaststrue and contingency plans in place, the directors have a reasonable expectation that the company will be able to continue in operation existence for the foreseeable future and therefore continue to consider that the going concern basis of preparing the annual financial statements is appropriate.

1.3
Turnover

Turnover is recognised at the fair value of the consideration received or receivable for goods and services provided in the normal course of business, and is shown net of VAT and other sales related taxes. The fair value of consideration takes into account trade discounts, settlement discounts and volume rebates.

1.4
Tangible fixed assets

Tangible fixed assets are initially measured at cost and subsequently measured at cost or valuation, net of depreciation and any impairment losses.

Depreciation is recognised so as to write off the cost or valuation of assets less their residual values over their useful lives on the following bases:

Leasehold improvements
20% Straight line
Fixtures and fittings
25% Straight line
Computers
25% Straight line

The gain or loss arising on the disposal of an asset is determined as the difference between the sale proceeds and the carrying value of the asset, and is credited or charged to profit or loss.

1.5
Fixed asset investments

Interests in subsidiaries are initially measured at cost and subsequently measured at cost less any accumulated impairment losses. The investments are assessed for impairment at each reporting date and any impairment losses or reversals of impairment losses are recognised immediately in profit or loss.

A subsidiary is an entity controlled by the company. Control is the power to govern the financial and operating policies of the entity so as to obtain benefits from its activities.

BEAUMONT NATHAN FINE ART LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 AUGUST 2024
1
Accounting policies
(Continued)
- 4 -
1.6
Cash and cash equivalents

Cash and cash equivalents are basic financial assets and include cash in hand, deposits held at call with banks, other short-term liquid investments with original maturities of three months or less, and bank overdrafts. Bank overdrafts are shown within borrowings in current liabilities.

1.7
Financial instruments

The company has elected to apply the provisions of Section 11 ‘Basic Financial Instruments’ and Section 12 ‘Other Financial Instruments Issues’ of FRS 102 to all of its financial instruments.

 

Financial instruments are recognised in the company's balance sheet when the company becomes party to the contractual provisions of the instrument.

 

Financial assets and liabilities are offset, with the net amounts presented in the financial statements, when there is a legally enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously.

Basic financial assets

Basic financial assets, which include debtors and cash and bank balances, are initially measured at transaction price including transaction costs and are subsequently carried at amortised cost. Financial assets classified as receivable within one year are not amortised.

Basic financial liabilities

Basic financial liabilities, including trade creditors, bank loans and loans from fellow group companies, are initially recognised at transaction price. Financial liabilities classified as payable within one year are not amortised.

 

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Amounts payable are classified as current liabilities if payment is due within one year or less. If not, they are presented as non-current liabilities. Trade creditors are recognised initially at transaction price.

1.8
Equity instruments

Equity instruments issued by the company are recorded at the proceeds received, net of transaction costs. Dividends payable on equity instruments are recognised as liabilities once they are no longer at the discretion of the company.

1.9
Taxation

The tax expense represents the sum of the tax currently payable and deferred tax.

Current tax

The tax currently payable is based on taxable profit for the year. Taxable profit differs from net profit as reported in the profit and loss account because it excludes items of income or expense that are taxable or deductible in other years and it further excludes items that are never taxable or deductible. The company’s liability for current tax is calculated using tax rates that have been enacted or substantively enacted by the reporting end date.

Deferred tax

Deferred tax liabilities are generally recognised for all timing differences and deferred tax assets are recognised to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits. Such assets and liabilities are not recognised if the timing difference arises from goodwill or from the initial recognition of other assets and liabilities in a transaction that affects neither the tax profit nor the accounting profit.

 

BEAUMONT NATHAN FINE ART LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 AUGUST 2024
1
Accounting policies
(Continued)
- 5 -
1.10
Employee benefits

The costs of short-term employee benefits are recognised as a liability and an expense.

 

The cost of any unused holiday entitlement is recognised in the period in which the employee’s services are received.

 

Termination benefits are recognised immediately as an expense when the company is demonstrably committed to terminate the employment of an employee or to provide termination benefits.

1.11
Retirement benefits

Payments to defined contribution retirement benefit schemes are charged as an expense as they fall due.

1.12
Foreign exchange

Transactions in currencies other than pounds sterling are recorded at the rates of exchange prevailing at the dates of the transactions. At each reporting end date, monetary assets and liabilities that are denominated in foreign currencies are retranslated at the rates prevailing on the reporting end date. Gains and losses arising on translation in the period are included in profit or loss.

2
Employees

The average monthly number of persons (including directors) employed by the company during the year was:

2024
2023
Number
Number
Total
9
9
BEAUMONT NATHAN FINE ART LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 AUGUST 2024
- 6 -
3
Tangible fixed assets
Land and buildings
Plant and machinery etc
Total
£
£
£
Cost
At 1 September 2023
-
0
139,084
139,084
Additions
40,582
26,992
67,574
Disposals
-
0
(71,985)
(71,985)
At 31 August 2024
40,582
94,091
134,673
Depreciation and impairment
At 1 September 2023
-
0
120,038
120,038
Depreciation charged in the year
3,485
13,643
17,128
Eliminated in respect of disposals
-
0
(71,683)
(71,683)
At 31 August 2024
3,485
61,998
65,483
Carrying amount
At 31 August 2024
37,097
32,093
69,190
At 31 August 2023
-
0
19,046
19,046
4
Fixed asset investments
2024
2023
£
£
Shares in group undertakings and participating interests
1
1
5
Subsidiaries

Details of the company's subsidiaries at 31 August 2024 are as follows:

Name of undertaking
Registered office
Class of
% Held
shares held
Direct
Beaumont Nathan Art Advisory Limited
England
Ordinary
100.00
The aggregate capital and reserves and the result for the year of the subsidiaries noted above was as follows:
Name of undertaking
Capital and Reserves
Profit/(Loss)
£
£
Beaumont Nathan Art Advisory Limited
2,196,110
963,750

The company is also the sole member of Beaumont Nathan Advisory LLC, a Limited Liability Company which is incorporated in the USA.

BEAUMONT NATHAN FINE ART LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 AUGUST 2024
- 7 -
6
Debtors
2024
2023
Amounts falling due within one year:
£
£
Trade debtors
-
0
428
Amounts owed by group undertakings
490,686
159,979
Other debtors
118,617
181,745
609,303
342,152
7
Creditors: amounts falling due within one year
2024
2023
£
£
Trade creditors
92,816
25,237
Corporation tax
117,323
96,028
Other taxation and social security
5,002
6,268
Other creditors
359,522
1,863,142
574,663
1,990,675
8
Called up share capital
2024
2023
2024
2023
Ordinary share capital
Number
Number
£
£
Issued and fully paid
A Ordinary shares of 0.1p each
90,000
90,000
90
90
B Ordinary shares of 0.1p each
10,000
10,000
10
10
E Ordinary shares of 0.1p each
11,111
11,111
11
11
111,111
111,111
111
111

Subsequent to the year end on 20 December 2024 the Company repurchased all of 11,111 Ordinary E shares at par value, the shares were immediately cancelled.

 

Also subsequent to the year end, on 4 March 2025 the Company issued 22,625 Ordinary D shares with a nominal value of £0.001 per share in exchange for total consideration of £219,602.

9
Operating lease commitments

At the reporting end date the company had outstanding commitments for future minimum lease payments under non-cancellable operating leases, as follows:

2024
2023
£
£
816,336
-
0
BEAUMONT NATHAN FINE ART LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 AUGUST 2024
- 8 -
10
Related party transactions

At the year end a director was owed £46 by the company (2023 - £943). The loan is interest free and repayable on demand and included in other creditors in the accounts.

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