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REGISTERED NUMBER: 08890323 (England and Wales)















Financial Statements for the Year Ended 31 March 2025

for

Addis Fine Art Limited

Addis Fine Art Limited (Registered number: 08890323)






Contents of the Financial Statements
for the Year Ended 31 March 2025




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


Addis Fine Art Limited

Company Information
for the Year Ended 31 March 2025







DIRECTOR: Ms R Sile





REGISTERED OFFICE: Mappin House
4 Winsley Street
London
London
W1W 8HF





REGISTERED NUMBER: 08890323 (England and Wales)





ACCOUNTANTS: Visionary Accountants
2 Adelaide Street
St Albans
Hertfordshire
AL3 5BH

Addis Fine Art Limited (Registered number: 08890323)

Balance Sheet
31 March 2025

31.3.25 31.3.24
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 5,490 6,041
Investments 5 242,132 242,132
247,622 248,173

CURRENT ASSETS
Stocks - 55,494
Debtors 6 57,515 65,277
Cash at bank 231,475 257,301
288,990 378,072
CREDITORS
Amounts falling due within one year 7 70,625 160,293
NET CURRENT ASSETS 218,365 217,779
TOTAL ASSETS LESS CURRENT
LIABILITIES

465,987

465,952

CREDITORS
Amounts falling due after more than one year 8 300,000 300,000
NET ASSETS 165,987 165,952

CAPITAL AND RESERVES
Called up share capital 9 1,500 1,500
Share premium 349,500 349,500
Retained earnings (185,013 ) (185,048 )
SHAREHOLDERS' FUNDS 165,987 165,952

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 March 2025.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 March 2025 in accordance with Section 476 of the Companies Act 2006.

The director acknowledges her 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.

Addis Fine Art Limited (Registered number: 08890323)

Balance Sheet - continued
31 March 2025


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 11 June 2025 and were signed by:





Miss R Sile - Director


Addis Fine Art Limited (Registered number: 08890323)

Notes to the Financial Statements
for the Year Ended 31 March 2025

1. STATUTORY INFORMATION

Addis Fine 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.
Plant and machinery etc - 25% on cost and 15% on cost

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 3 (2024 - 4 ) .

Addis Fine Art Limited (Registered number: 08890323)

Notes to the Financial Statements - continued
for the Year Ended 31 March 2025

4. TANGIBLE FIXED ASSETS
Plant and
machinery
etc
£   
COST
At 1 April 2024 23,307
Additions 1,505
At 31 March 2025 24,812
DEPRECIATION
At 1 April 2024 17,266
Charge for year 2,056
At 31 March 2025 19,322
NET BOOK VALUE
At 31 March 2025 5,490
At 31 March 2024 6,041

5. FIXED ASSET INVESTMENTS

Investments (neither listed nor unlisted) were as follows:
31.3.25 31.3.24
£    £   
Artwork 242,132 242,132

At the balance sheet date there are 43 pieces of artwork being held as investments, these are recorded at historic cost.

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.3.25 31.3.24
£    £   
Trade debtors - 18,908
Amounts owed by associates 12,996 11,701
Other debtors 44,519 34,668
57,515 65,277

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.3.25 31.3.24
£    £   
Bank loans and overdrafts - 166
Trade creditors 58,976 120,264
Taxation and social security 7,191 3,892
Other creditors 4,458 35,971
70,625 160,293

Addis Fine Art Limited (Registered number: 08890323)

Notes to the Financial Statements - continued
for the Year Ended 31 March 2025

8. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
31.3.25 31.3.24
£    £   
Other creditors 300,000 300,000

9. CALLED UP SHARE CAPITAL

Allotted and issued:
Number: Class: Nominal 31.3.25 31.3.24
value: £    £   
1,500 Share capital 1 £1 1,500 1,500

10. RELATED PARTY DISCLOSURES

During the year Miss R Sile held a loan account with the company. At the year end £40,257.72 (2024: £6,037) was due by Miss R Sile. Interest has been charged at 2.25%.

At the balance sheet date African Art Contemporary Ecosystems, a company in which Miss R Sile is a director and shareholder, owed the company £12,996 (2024: £11,701). This loan is unsecured and interest free and repayable on demand.

11. ULTIMATE CONTROLLING PARTY

The ultimate controlling party is Miss R Sile.