Company No:
Contents
| DIRECTORS | Anthony d'Offay |
| Marie-Louise Laband |
| SECRETARY | Marie-Louise Laband |
| REGISTERED OFFICE | 9 Dering Street |
| London | |
| W1S 1AG | |
| United Kingdom |
| COMPANY NUMBER | 01207794 (England and Wales) |
| Note | 2024 | 2023 | ||
| £ | £ | |||
| Fixed assets | ||||
| Tangible assets | 3 |
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| Investment property | 4 |
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| 2,518,434 | 2,511,335 | |||
| Current assets | ||||
| Stocks |
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| Debtors | 5 |
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| Investments | 6 |
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| Cash at bank and in hand |
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| 35,733,154 | 34,489,731 | |||
| Creditors: amounts falling due within one year | 7 | (
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| Net current assets | 34,590,197 | 34,085,710 | ||
| Total assets less current liabilities | 37,108,631 | 36,597,045 | ||
| Provision for liabilities | (
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| Net assets |
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| Capital and reserves | ||||
| Called-up share capital |
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| Share premium account |
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| Revaluation reserve |
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| Profit and loss account |
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| Total shareholder's funds |
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Directors' responsibilities:
The financial statements of Anthony d'Offay Limited (registered number:
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Marie-Louise Laband
Director |
The principal accounting policies are summarised below. They have all been applied consistently throughout the financial year and to the preceding financial year, unless otherwise stated.
Anthony d'Offay Limited (the Company) is a private company, limited by shares, incorporated in the United Kingdom under the Companies Act 2006 and is registered in England and Wales. The address of the Company's registered office is 9 Dering Street, London, W1S 1AG, United Kingdom.
The financial statements have been prepared under the historical cost convention, modified to include the revaluation of freehold land and buildings and to include investment properties and certain items at fair value, and in accordance with Section 1A of Financial Reporting Standard 102 (FRS 102) ‘The Financial Reporting Standard applicable in the UK and Republic of Ireland’ issued by the Financial Reporting Council and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime.
The financial statements are presented in pounds sterling which is the functional currency of the Company and rounded to the nearest £.
All exchange differences are included in the profit and loss account.
Income from the sales of works of art is recognised at the date when the risks and rewards of ownership are transferred to the purchaser. Commission income is recognised when the company is entitled to receipt as a result of the completion of a deal.
Defined contribution schemes
A defined contribution plan is a pension plan under which fixed contributions are paid into a pension fund and the company has no legal or constructive obligation to pay further contributions even if the fund does not hold sufficient assets to pay all employees the benefits relating to employee service in the current or prior periods.
Contributions to defined contribution plans are recognised as employee benefit expense when they are due. If contribution payments exceed the contributions due for service, the excess is recognised as a prepayment.
Current tax is provided at amounts expected to be paid using the tax rates and laws that have been enacted or substantively enacted at the reporting date in the countries where the company operates and generates taxable income. Current tax is recognised in the profit and loss account, except where an item of income or expense is classified as other comprehensive income, then the charge on that item is recognised directly in the statement of other comprehensive income.
Deferred tax
Deferred Tax is recognised on temporary differences arising between the tax bases of assets and liabilities and their carrying amounts in the financial statements and on unused tax losses or tax credits in the company.
Deferred Tax is determined using tax rates that have been enacted or substantially enacted by the reporting date.
The carrying amount of deferred tax assets are reviewed at each reporting date and a valuation allowance is set up against deferred tax assets so that the net carrying equals the highest amount that is more likely than not to be recovered based on current or future taxable profit.
Other operating income relates to rental income and foreign exchange gains or losses. Rental income is recognised in the profit or loss on the accruals basis. Foreign exchange gains or losses are recognised at the year end when foreign currency transactions are translated into the functional currency.
Furniture, fittings, and equipment are stated at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.
The cost of the tangible assets includes directly attributable incremental costs incurred in their acquisition and installation.
Depreciation is not charged on freehold land and buildings. This is a departure from the requirements of the Companies Act 2006 which requires all properties to be depreciated. The directors consider that this accounting policy results in the accounts giving a true and fair view. Depreciation is only one of the many factors reflected in the annual valuation and the amount which might otherwise have been shown cannot be separately identified or quantified.
Depreciation is charged so as to write off the cost of the asset as follows:
| Land and buildings | not depreciated |
| Fixtures and fittings |
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Rentals under operating leases are charged to the profit and loss account in equal amounts over the lease term.
Trade debtors are recognised initially at the transaction price. They are subsequently measured at amortised cost using the effective interested method, less provision for impairment. A provision for the impairment of trade debtors is established when there is objective evidence that the company will not be able to collect all amounts due according to the original terms of the debtors.
Trade creditors are recognised initially at the transaction price and subsequently at amortised cost using the effective interest method.
Financial instruments are classified and accounted for, according to the substance of the contractual arrangement, as financial assets, financial liabilities or equity instruments. An equity instrument is any contract that evidences a residual interest in the assets of the company after deducting all of its liabilities.
Investments
Investments in equity shares which are publicly traded or where fair value can be measured reliably are measured at fair value, with changes in fair value recognised in the profit or loss.
Where possible the prices reflect the mid-price of securities as quoted on the relevant stock exchange and reported by a reputable pricing source on the applicable date. Where, for whatever reason, this is not possible reasonable discretion is used to determine what the company believes to be a fair value or price.
| 2024 | 2023 | ||
| Number | Number | ||
| Monthly average number of persons employed by the company during the year, including directors |
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| Land and buildings | Fixtures and fittings | Total | |||
| £ | £ | £ | |||
| Cost/Valuation | |||||
| At 01 October 2023 |
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| Additions |
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| At 30 September 2024 |
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| Accumulated depreciation | |||||
| At 01 October 2023 |
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| Charge for the financial year |
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| At 30 September 2024 |
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| Net book value | |||||
| At 30 September 2024 |
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| At 30 September 2023 |
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Had this class of assets been measured on a historical cost basis, the historical cost would have been £52,760 (2023 - £52,760). The accumulated depreciation on this historical cost is £nil (2023 - £nil).
| Investment property | |
| £ | |
| Valuation | |
| As at 01 October 2023 |
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| As at 30 September 2024 |
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Valuation
The investment property has been valued at £625,000 (2023 - £625,000). The directors consider this to be market value, based on market research of comparable properties. There has been no valuation by an independent valuer.
The historical cost of the property is £17,587 (2023 - £17,587). The corresponding accumulated depreciation as at the year end would be £nil (2023- £nil).
| 2024 | 2023 | ||
| £ | £ | ||
| Trade debtors |
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| Corporation tax |
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| Other debtors |
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| 2024 | 2023 | ||
| £ | £ | ||
| Listed investments – at fair value |
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Current asset investments comprise listed investments at fair value. The historical cost of the investments is £3,565,831 (2023 - £3,356,657).
| 2024 | 2023 | ||
| £ | £ | ||
| Trade creditors |
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| Taxation and social security |
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| Other creditors |
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