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REGISTERED NUMBER: 06497281 (England and Wales)















FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MARCH 2024

FOR

PATRICK HEIDE CONTEMPORARY ART LIMITED

PATRICK HEIDE CONTEMPORARY ART LIMITED (REGISTERED NUMBER: 06497281)

CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024










Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 3


PATRICK HEIDE CONTEMPORARY ART LIMITED

COMPANY INFORMATION
FOR THE YEAR ENDED 31 MARCH 2024







DIRECTOR: Mr P Heide





SECRETARY: J Heide





REGISTERED OFFICE: 55 Loudoun Road
London
NW8 0DL





REGISTERED NUMBER: 06497281 (England and Wales)





ACCOUNTANTS: MGR SD Limited
Chartered Accountants
55 Loudoun Road
St John's Wood
London
NW8 0DL

PATRICK HEIDE CONTEMPORARY ART LIMITED (REGISTERED NUMBER: 06497281)

BALANCE SHEET
31 MARCH 2024

31.3.24 31.3.23
Notes £    £   
FIXED ASSETS
Property, plant and equipment 4 1,189 1,486

CURRENT ASSETS
Inventories 33,835 33,835
Debtors 5 43,244 20,250
Cash at bank - 20,532
77,079 74,617
CREDITORS
Amounts falling due within one year 6 (114,888 ) (71,990 )
NET CURRENT (LIABILITIES)/ASSETS (37,809 ) 2,627
TOTAL ASSETS LESS CURRENT LIABILITIES (36,620 ) 4,113

CAPITAL AND RESERVES
Called up share capital 9 100 100
Retained earnings (36,720 ) 4,013
SHAREHOLDERS' FUNDS (36,620 ) 4,113

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 March 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 March 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.

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 1 May 2025 and were signed by:




Mr P Heide - Director


PATRICK HEIDE CONTEMPORARY ART LIMITED (REGISTERED NUMBER: 06497281)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024


1. STATUTORY INFORMATION

Patrick Heide Contemporary 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.

The company's balance sheet shows net current liabilities of £37,809. The directors have indicated that they will continue to support the company for the foreseeable future should additional funding be required. On this basis, the financial statements have been prepared on the going concern basis.

Turnover
Turnover represents net invoiced sales of goods, excluding value added tax.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Fixtures and fittings - 20% on reducing balance
Computer equipment - 20% on reducing balance

Stocks
Inventories are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.

3. EMPLOYEES AND DIRECTORS

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

PATRICK HEIDE CONTEMPORARY ART LIMITED (REGISTERED NUMBER: 06497281)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 MARCH 2024


4. PROPERTY, PLANT AND EQUIPMENT
Fixtures
and Computer
fittings equipment Totals
£    £    £   
COST
At 1 April 2023
and 31 March 2024 23,168 2,028 25,196
DEPRECIATION
At 1 April 2023 22,275 1,435 23,710
Charge for year 179 118 297
At 31 March 2024 22,454 1,553 24,007
NET BOOK VALUE
At 31 March 2024 714 475 1,189
At 31 March 2023 893 593 1,486

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.3.24 31.3.23
£    £   
Trade debtors 20,020 -
Other debtors 23,224 20,250
43,244 20,250

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.3.24 31.3.23
£    £   
Bank loans and overdrafts (see note 7) 702 -
Trade creditors 64,982 38,252
Taxation and social security 4,750 9,749
Other creditors 44,454 23,989
114,888 71,990

7. LOANS

An analysis of the maturity of loans is given below:

31.3.24 31.3.23
£    £   
Amounts falling due within one year or on demand:
Bank overdrafts 702 -

PATRICK HEIDE CONTEMPORARY ART LIMITED (REGISTERED NUMBER: 06497281)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 MARCH 2024


8. LEASING AGREEMENTS

Minimum lease payments under non-cancellable operating leases fall due as follows:
31.3.24 31.3.23
£    £   
Between one and five years 33,000 33,000

9. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 31.3.24 31.3.23
value: £    £   
100 Ordinary £1 100 100