IRIS Accounts Production v25.1.4.42 02762230 Board of Directors 1.11.23 31.10.24 31.10.24 foundry work in relation to art and sculpture. false true false false true false iso4217:GBPiso4217:USDiso4217:EURxbrli:sharesxbrli:pureutr:tonnesutr:kWh027622302023-10-31027622302024-10-31027622302023-11-012024-10-31027622302022-10-31027622302022-11-012023-10-31027622302023-10-3102762230ns15:EnglandWales2023-11-012024-10-3102762230ns14:PoundSterling2023-11-012024-10-3102762230ns10:Director12023-11-012024-10-3102762230ns10:PrivateLimitedCompanyLtd2023-11-012024-10-3102762230ns10:SmallEntities2023-11-012024-10-3102762230ns10:AuditExemptWithAccountantsReport2023-11-012024-10-3102762230ns10:SmallCompaniesRegimeForDirectorsReport2023-11-012024-10-3102762230ns10:SmallCompaniesRegimeForAccounts2023-11-012024-10-3102762230ns10:FullAccounts2023-11-012024-10-3102762230ns10:Director22023-11-012024-10-3102762230ns10:Director32023-11-012024-10-3102762230ns10:Director42023-11-012024-10-3102762230ns10:CompanySecretary12023-11-012024-10-3102762230ns10:RegisteredOffice2023-11-012024-10-3102762230ns5:CurrentFinancialInstruments2024-10-3102762230ns5:CurrentFinancialInstruments2023-10-3102762230ns5:Non-currentFinancialInstruments2024-10-3102762230ns5:Non-currentFinancialInstruments2023-10-3102762230ns5:ShareCapital2024-10-3102762230ns5:ShareCapital2023-10-3102762230ns5:RetainedEarningsAccumulatedLosses2024-10-3102762230ns5:RetainedEarningsAccumulatedLosses2023-10-3102762230ns5:LandBuildings2023-11-012024-10-3102762230ns5:PlantMachinery2023-11-012024-10-3102762230ns5:OwnedAssets2023-11-012024-10-3102762230ns5:OwnedAssets2022-11-012023-10-3102762230ns5:ShortLeaseholdAssetsns5:LandBuildings2023-10-3102762230ns5:FurnitureFittings2023-10-3102762230ns5:MotorVehicles2023-10-3102762230ns5:ComputerEquipment2023-10-3102762230ns5:ShortLeaseholdAssetsns5:LandBuildings2023-11-012024-10-3102762230ns5:FurnitureFittings2023-11-012024-10-3102762230ns5:MotorVehicles2023-11-012024-10-3102762230ns5:ComputerEquipment2023-11-012024-10-3102762230ns5:ShortLeaseholdAssetsns5:LandBuildings2024-10-3102762230ns5:FurnitureFittings2024-10-3102762230ns5:MotorVehicles2024-10-3102762230ns5:ComputerEquipment2024-10-3102762230ns5:ShortLeaseholdAssetsns5:LandBuildings2023-10-3102762230ns5:FurnitureFittings2023-10-3102762230ns5:MotorVehicles2023-10-3102762230ns5:ComputerEquipment2023-10-3102762230ns5:CurrentFinancialInstrumentsns5:WithinOneYear2024-10-3102762230ns5:CurrentFinancialInstrumentsns5:WithinOneYear2023-10-3102762230ns5:Non-currentFinancialInstruments2023-11-012024-10-31
REGISTERED NUMBER: 02762230 (England and Wales)




















REPORT OF THE DIRECTORS AND

UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 OCTOBER 2024

FOR

A B FINE ART FOUNDRY LIMITED

A B FINE ART FOUNDRY LIMITED (REGISTERED NUMBER: 02762230)

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










Page

Company Information 1

Report of the Directors 2

Profit and Loss Account 3

Balance Sheet 4

Notes to the Financial Statements 5


A B FINE ART FOUNDRY LIMITED

COMPANY INFORMATION
FOR THE YEAR ENDED 31 OCTOBER 2024







DIRECTORS: H M Abercrombie
D G Abercrombie
J Hughes
S Pughe





SECRETARY: N Hughes





REGISTERED OFFICE: Harben House
Harben Parade
Finchley Road
LONDON
NW3 6LH





REGISTERED NUMBER: 02762230 (England and Wales)





ACCOUNTANTS: Xeinadin Swiss Cottage Limited
Harben House
Harben Parade
Finchley Road
LONDON
NW3 6LH

A B FINE ART FOUNDRY LIMITED (REGISTERED NUMBER: 02762230)

REPORT OF THE DIRECTORS
FOR THE YEAR ENDED 31 OCTOBER 2024


The directors present their report with the financial statements of the company for the year ended 31 October 2024.

DIRECTORS
The directors shown below have held office during the whole of the period from 1 November 2023 to the date of this report.

H M Abercrombie
D G Abercrombie
J Hughes
S Pughe

This report has been prepared in accordance with the provisions of Part 15 of the Companies Act 2006 relating to small companies.

ON BEHALF OF THE BOARD:





J Hughes - Director


11 June 2025

A B FINE ART FOUNDRY LIMITED (REGISTERED NUMBER: 02762230)

PROFIT AND LOSS ACCOUNT
FOR THE YEAR ENDED 31 OCTOBER 2024

2024 2023
Notes £ £

TURNOVER 1,891,182 2,111,441

Cost of sales 859,176 1,065,978
GROSS PROFIT 1,032,006 1,045,463

Administrative expenses 667,231 535,138
364,775 510,325

Other operating income 16,995 14,120
OPERATING PROFIT 4 381,770 524,445

Interest receivable and similar income 11,796 9,807
393,566 534,252

Interest payable and similar expenses 185 -
PROFIT BEFORE TAXATION 393,381 534,252

Tax on profit 103,049 102,503
PROFIT FOR THE FINANCIAL YEAR 290,332 431,749

A B FINE ART FOUNDRY LIMITED (REGISTERED NUMBER: 02762230)

BALANCE SHEET
31 OCTOBER 2024

2024 2023
Notes £ £ £ £
FIXED ASSETS
Tangible assets 5 261,613 265,259

CURRENT ASSETS
Stocks 161,100 146,200
Debtors 6 12,524 24,101
Cash at bank and in hand 826,785 960,139
1,000,409 1,130,440
CREDITORS
Amounts falling due within one year 7 216,816 230,570
NET CURRENT ASSETS 783,593 899,870
TOTAL ASSETS LESS CURRENT
LIABILITIES

1,045,206

1,165,129

CREDITORS
Amounts falling due after more than one year 8 3,185 -
NET ASSETS 1,042,021 1,165,129

CAPITAL AND RESERVES
Called up share capital 646 646
Retained earnings 1,041,375 1,164,483
SHAREHOLDERS' FUNDS 1,042,021 1,165,129

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

The members have not required the company to obtain an audit of its financial statements for the year ended 31 October 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 in accordance with the provisions applicable to companies subject to the small companies regime.

The financial statements were approved by the Board of Directors and authorised for issue on 11 June 2025 and were signed on its behalf by:



J Hughes - Director


A B FINE ART FOUNDRY LIMITED (REGISTERED NUMBER: 02762230)

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


1. STATUTORY INFORMATION

A B Fine Art Foundry 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.
Land and buildings - Straight line over 10 years
Plant and machinery etc - 25% on reducing balance and 15% 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 Profit and Loss Account, 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.

Pension costs and other post-retirement benefits
The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate.

A B FINE ART FOUNDRY LIMITED (REGISTERED NUMBER: 02762230)

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


2. ACCOUNTING POLICIES - continued

Financial instruments
The Company only enters into basic financial instruments transactions that result in the recognition of financial assets and liabilities like trade and other debtors and creditors, loans from banks and other third parties.

Financial assets that are measured at cost and amortised cost are assessed at the end of each reporting period for objective evidence of impairment. If objective evidence of impairment is found, an impairment loss is recognised in profit and loss.

Financial assets and liabilities are offset and the net amount reported in the Balance Sheet when there is an 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.

Cash and cash equivalents
Cash and cash equivalents are represented by cash in hand, deposits held at call with financial institutions.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 13 (2023 - 16 ) .

4. OPERATING PROFIT

The operating profit is stated after charging:

2024 2023
£ £
Depreciation - owned assets 55,759 58,078

5. TANGIBLE FIXED ASSETS
Fixtures
Short and Motor Plant and
leasehold fittings vehicles machinery Totals
£ £ £ £ £
COST
At 1 November 2023 38,453 86,284 135,641 595,841 856,219
Additions - - 138,931 7,121 146,052
Disposals - - (135,641 ) - (135,641 )
At 31 October 2024 38,453 86,284 138,931 602,962 866,630
DEPRECIATION
At 1 November 2023 36,848 66,968 28,281 458,863 590,960
Charge for year 1,605 2,897 29,642 21,615 55,759
Eliminated on disposal - - (41,702 ) - (41,702 )
At 31 October 2024 38,453 69,865 16,221 480,478 605,017
NET BOOK VALUE
At 31 October 2024 - 16,419 122,710 122,484 261,613
At 31 October 2023 1,605 19,316 107,360 136,978 265,259

A B FINE ART FOUNDRY LIMITED (REGISTERED NUMBER: 02762230)

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


6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£ £
Trade debtors 2,661 16,457
Other debtors 9,863 7,644
12,524 24,101

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£ £
Hire purchase contracts 5,459 -
Trade creditors 4,410 42,539
Taxation and social security 175,482 179,043
Other creditors 31,465 8,988
216,816 230,570

8. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR
2024 2023
£ £
Hire purchase contracts 3,185 -

Obligations under hire purchase and finance lease contracts are secured on the assets concerned.

9. RELATED PARTY DISCLOSURES

Included in Rent & services are amounts paid to A&A Properties in the sum of £136,404 (2023:£127,622) ) this company is owned by Mr & Mrs Abercrombie.