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Registration number: NI057408

Tra'art Limited

Unaudited Filleted Financial Statements

for the Period from 1 January 2025 to 30 April 2025

 

Tra'art Limited

(Registration number: NI057408)
Balance Sheet as at 30 April 2025

Note

30/04/2025
£

31/12/2024
£

Current assets

 

Debtors

5

-

6,727

Cash at bank and in hand

 

8,603

88,222

 

8,603

94,949

Creditors: Amounts falling due within one year

6

-

(4,897)

Total assets less current liabilities

 

8,603

90,052

Creditors: Amounts falling due after more than one year

6

-

(49,449)

Net assets

 

8,603

40,603

Capital and reserves

 

Called up share capital

7

2

2

Retained earnings

8,601

40,601

Shareholders' funds

 

8,603

40,603

For the financial period ending 30 April 2025 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Director's responsibilities:

The members have not required the company to obtain an audit of its accounts for the period in question in accordance with section 476; and

The director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime. As permitted by section 444 (5A) of the Companies Act 2006, the director has not delivered to the registrar a copy of the Profit and Loss Account.

Approved and authorised by the director on 7 May 2025
 

.........................................
Mr Raymond Trainor
Company secretary and director

 

Tra'art Limited

Notes to the Unaudited Financial Statements for the Period from 1 January 2025 to 30 April 2025

1

General information

The company is a private company limited by share capital, incorporated in Northern Ireland.

The address of its registered office is: 20 Orpen Avenue, Finaghy, Belfast, BT10 0BS.

Principal activity

The principal activity of the company was the purchase and sale of works of art. As trading ceased on 31st December 2024, the director is applying for informal strike off.

These financial statements were authorised for issue by the director on 7 May 2025.

2

Accounting policies

Summary of significant accounting policies and key accounting estimates

The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.

Statement of compliance

These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A smaller entities - 'The Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland' and the Companies Act 2006 (as applicable to companies subject to the small companies' regime).

Basis of preparation

These financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.

Turnover

Turnover represents income from the sale of works of art.

Goodwill

Goodwill on incorporation was amortised through the profit and loss account on a straight line basis over its useful economic life which was estimated at seven years.

Tangible assets

Tangible assets are stated in the balance sheet at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.

The cost of tangible assets includes directly attributable incremental costs incurred in their acquisition and installation.

Depreciation

Depreciation is provided on tangible fixed assets so as to write off the cost less any estimated residual value over their expected economic life as follows:

 

Tra'art Limited

Notes to the Unaudited Financial Statements for the Period from 1 January 2025 to 30 April 2025

Asset class

Depreciation method and rate

Equipment

20% per year straight line basis

Stocks

Stocks are stated at the lower of cost and net realisable value. Cost includes purchase price and any costs of conversion. Net realisable value is based on estimated selling price less any directly attributable selling expenses.

Short-term debtors and creditors

Debtors and creditors with no stated interest rate and receivable or payable within one year are recorded at transaction price. Financial assets, including debtors, are reviewed at the reporting date to determine if there is any evidence of potential impairment. Any losses arising from impairment are recognised in the income statement in operating expenses.

Deferred tax

Deferred tax is accounted for on all material differences arising from the inclusion of items of income and expenditure in taxation computations in periods different from those in which they are included in the financial statements.

Borrowings

Interest-bearing borrowings are initially recorded at fair value, net of transaction costs. Interest-bearing borrowings are subsequently carried at amortised cost, with the difference between the proceeds, net of transaction costs, and the amount due on redemption being recognised as a charge to the profit and loss account over the period of the relevant borrowing.

Interest expense is recognised on the basis of the effective interest method and is included in interest payable and similar charges.

Borrowings are classified as current liabilities unless the company has an unconditional right to defer settlement of the liability for at least twelve months after the reporting date.

Dividends

Dividend distribution to the company’s shareholders is recognised as a liability in the financial statements in the reporting period in which the dividends are declared.

3

Staff numbers

The average number of persons employed by the company (including the director) during the period, was 1 (2024 - 1).

 

Tra'art Limited

Notes to the Unaudited Financial Statements for the Period from 1 January 2025 to 30 April 2025

4

Tangible assets

Furniture, fittings and equipment
 £

Total
£

Cost or valuation

At 1 January 2025

2,626

2,626

Disposals

(2,626)

(2,626)

At 30 April 2025

-

-

Depreciation

At 1 January 2025

2,626

2,626

Eliminated on disposal

(2,626)

(2,626)

At 30 April 2025

-

-

Carrying amount

At 30 April 2025

-

-

5

Debtors

Current

30/04/2025
£

31/12/2024
£

Trade debtors

-

5,000

Other debtors

-

1,727

 

-

6,727

6

Creditors

Creditors: amounts falling due within one year

30/04/2025
£

31/12/2024
£

Accruals and deferred income

-

4,478

Other creditors

-

419

-

4,897

Creditors: amounts falling due after more than one year

30/04/2025
£

31/12/2024
£

Loan from the Director

-

49,449

 

Tra'art Limited

Notes to the Unaudited Financial Statements for the Period from 1 January 2025 to 30 April 2025

7

Share capital

Allotted, called up and fully paid shares

30/04/2025

31/12/2024

No.

£

No.

£

Ordinary shares of £1 each

2

2

2

2

       

8

Capital commitments

There were no capital commitments at the balance sheet date.

9

Related party transactions

30/04/2025
 £

31/12/2024
 £

Directors current account

-

49,449