Caseware UK (AP4) 2023.0.135 2023.0.135 2024-07-312024-07-31falseNo description of principal activity2023-08-0144falsetrueThe members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.false 04826974 2023-08-01 2024-07-31 04826974 2022-08-01 2023-07-31 04826974 2024-07-31 04826974 2023-07-31 04826974 c:Director1 2023-08-01 2024-07-31 04826974 d:OfficeEquipment 2023-08-01 2024-07-31 04826974 d:OfficeEquipment 2024-07-31 04826974 d:OfficeEquipment 2023-07-31 04826974 d:OfficeEquipment d:OwnedOrFreeholdAssets 2023-08-01 2024-07-31 04826974 d:CurrentFinancialInstruments 2024-07-31 04826974 d:CurrentFinancialInstruments 2023-07-31 04826974 d:CurrentFinancialInstruments d:WithinOneYear 2024-07-31 04826974 d:CurrentFinancialInstruments d:WithinOneYear 2023-07-31 04826974 d:ShareCapital 2024-07-31 04826974 d:ShareCapital 2023-07-31 04826974 d:RetainedEarningsAccumulatedLosses 2024-07-31 04826974 d:RetainedEarningsAccumulatedLosses 2023-07-31 04826974 c:FRS102 2023-08-01 2024-07-31 04826974 c:AuditExemptWithAccountantsReport 2023-08-01 2024-07-31 04826974 c:FullAccounts 2023-08-01 2024-07-31 04826974 c:PrivateLimitedCompanyLtd 2023-08-01 2024-07-31 04826974 e:PoundSterling 2023-08-01 2024-07-31 iso4217:GBP xbrli:pure

Registered number: 04826974









GILDEN'S ARTS UK LIMITED







UNAUDITED

FINANCIAL STATEMENTS

INFORMATION FOR FILING WITH THE REGISTRAR

FOR THE YEAR ENDED 31 JULY 2024

 
GILDEN'S ARTS UK LIMITED
 
 
  
REPORT TO THE DIRECTOR ON THE PREPARATION OF THE UNAUDITED STATUTORY FINANCIAL STATEMENTS OF GILDEN'S ARTS UK LIMITED
FOR THE YEAR ENDED 31 JULY 2024

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the financial statements of Gilden's Arts UK Limited for the year ended 31 July 2024 which comprise  the Balance Sheet and the related notes from the Company's accounting records and from information and explanations you have given us.

As a practising member firm of the Institute of Chartered Accountants of Scotlandwe are subject to its ethical and other professional requirements which are detailed at https://icas.com/icas -framework-preparation -of-accounts.

This report is made solely to the Director of Gilden's Arts UK Limited in accordance with the terms of our engagement letter dated 28 April 2014Our work has been undertaken solely to prepare for your approval the financial statements of Gilden's Arts UK Limited and state those matters that we have agreed to state to the director of Gilden's Arts UK Limited in this report in accordance with the requirements of the Institute of Chartered Accountants of Scotland as detailed at https://icas.com/icas -framework-preparation -of-accounts. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than Gilden's Arts UK Limited and its director for our work or for this report. 

It is your duty to ensure that Gilden's Arts UK Limited has kept adequate accounting records and to prepare statutory financial statements that give a true and fair view of the assets, liabilities, financial position and profit of Gilden's Arts UK Limited. You consider that Gilden's Arts UK Limited is exempt from the statutory audit requirement for the year.

We have not been instructed to carry out an audit or review of the financial statements of Gilden's Arts UK Limited. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory financial statements.

  



Milton Avis LLP
 
Chartered Accountants
  
Pitt House
120 Baker Street
London
W1U 6TU
27 June 2025
Page 1

 
GILDEN'S ARTS UK LIMITED
REGISTERED NUMBER: 04826974

BALANCE SHEET
AS AT 31 JULY 2024

2024
2023
Note
£
£

Fixed assets
  

Tangible assets
 4 
1,442
1,923

  
1,442
1,923

Current assets
  

Stocks
 5 
3,600,175
3,327,864

Debtors: amounts falling due within one year
 6 
114,313
80,677

Cash at bank and in hand
 7 
417,804
822,325

  
4,132,292
4,230,866

Creditors: amounts falling due within one year
 8 
(3,238,594)
(3,388,208)

Net current assets
  
 
 
893,698
 
 
842,658

Total assets less current liabilities
  
895,140
844,581

Provisions for liabilities
  

Deferred tax
  
(1,502)
(1,032)

  
 
 
(1,502)
 
 
(1,032)

Net assets
  
893,638
843,549


Capital and reserves
  

Called up share capital 
  
1
1

Profit and loss account
  
893,637
843,548

  
893,638
843,549


The Director considers that the Company is entitled to exemption from audit under section 477 of the Companies Act 2006 and members have not required the Company to obtain an audit for the year in question in accordance with section 476 of the Companies Act 2006.

The Director acknowledges his responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.

The financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies regime and in accordance with the provisions of FRS 102 Section 1A - small entities.

The financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime.

The Company has opted not to file the statement of income and retained earnings in accordance with provisions applicable to companies subject to the small companies' regime.

Page 2

 
GILDEN'S ARTS UK LIMITED
REGISTERED NUMBER: 04826974
    
BALANCE SHEET (CONTINUED)
AS AT 31 JULY 2024

The financial statements were approved and authorised for issue by the board and were signed on its behalf on 27 June 2025.




................................................
O Gildor
Director

The notes on pages 4 to 8 form part of these financial statements.

Page 3

 
GILDEN'S ARTS UK LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JULY 2024

1.


General information

The company is limited by shares and is incorporated in England and Wales with its registered office at Pitt House, 120 Baker Street, London, W1U 6TU.

2.Accounting policies

 
2.1

Basis of preparation of financial statements

The financial statements have been prepared under the historical cost convention unless otherwise specified within these accounting policies and, for the first time, in accordance with Section 1A of Financial Reporting Standard 102, the Financial Reporting Standard applicable in the UK and the Republic of Ireland and the Companies Act 2006. There were no material departures from that standard.
The presentation currency is pounds sterling (£).

The following principal accounting policies have been consistently applied and have remained unchanged from the previous year.

 
2.2

Foreign currency translation

Functional and presentation currency

The Company's functional and presentational currency is sterling.

Transactions and balances

Foreign currency transactions are translated into the functional currency using the spot exchange rates at the dates of the transactions.

At the year end foreign currency monetary items are translated using the closing rate. 

 
2.3

Revenue

Revenue is recognised to the extent that it is probable that the economic benefits will flow to the Company and the revenue can be reliably measured. Revenue is measured as the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. The following criteria must also be met before revenue is recognised:

Sale of goods

Revenue from the sale of goods is recognised when all of the following conditions are satisfied:
the Company has transferred the significant risks and rewards of ownership to the buyer;
the Company retains neither continuing managerial involvement to the degree usually associated with ownership nor effective control over the goods sold;
the amount of revenue can be measured reliably;
it is probable that the Company will receive the consideration due under the transaction; and
the costs incurred or to be incurred in respect of the transaction can be measured reliably.

Page 4

 
GILDEN'S ARTS UK LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JULY 2024

2.Accounting policies (continued)

 
2.4

Operating leases: the Company as lessee

Rentals paid under operating leases are charged to profit or loss on a straight-line basis over the lease term.

 
2.5

Pensions

Defined contribution pension plan

The Company operates a defined contribution plan for its employees. A defined contribution plan is a pension plan under which the Company pays fixed contributions into a separate entity. Once the contributions have been paid the Company has no further payment obligations.

The contributions are recognised as an expense in profit or loss when they fall due. Amounts not paid are shown in accruals as a liability in the Balance Sheet. The assets of the plan are held separately from the Company in independently administered funds.

 
2.6

Current and deferred taxation

The tax expense for the year comprises current and deferred tax. Tax is recognised in profit or loss except that a charge attributable to an item of income and expense recognised as other comprehensive income or to an item recognised directly in equity is also recognised in other comprehensive income or directly in equity respectively.

The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the balance sheet date in the countries where the Company operates and generates income.

Deferred tax balances are recognised in respect of all timing differences that have originated but not reversed by the balance sheet date, except that:
The recognition of deferred tax assets is limited to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits; and
Any deferred tax balances are reversed if and when all conditions for retaining associated tax allowances have been met.

Deferred tax balances are not recognised in respect of permanent differences except in respect of business combinations, when deferred tax is recognised on the differences between the fair values of assets acquired and the future tax deductions available for them and the differences between the fair values of liabilities acquired and the amount that will be assessed for tax. Deferred tax is determined using tax rates and laws that have been enacted or substantively enacted by the balance sheet date.


 
2.7

Tangible fixed assets

Tangible fixed assets under the cost model are stated at historical cost less accumulated depreciation and any accumulated impairment losses. Historical cost includes expenditure that is directly attributable to bringing the asset to the location and condition necessary for it to be capable of operating in the manner intended by management.

Page 5

 
GILDEN'S ARTS UK LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JULY 2024

2.Accounting policies (continued)


2.7
Tangible fixed assets (continued)

Depreciation is charged so as to allocate the cost of assets less their residual value over their estimated useful lives, on a reducing balance basis.

Depreciation is provided on the following basis:

Office equipment
-
25%

The assets' residual values, useful lives and depreciation methods are reviewed, and adjusted prospectively if appropriate, or if there is an indication of a significant change since the last reporting date.

Gains and losses on disposals are determined by comparing the proceeds with the carrying amount and are recognised in profit or loss.

 
2.8

Stocks

Stocks are stated at the lower of cost and net realisable value, being the estimated selling price less costs to complete and sell. Cost is based on the cost of purchase.
At each balance sheet date, stocks are assessed for impairment. If stock is impaired, the carrying amount is reduced to its selling price less costs to complete and sell. The impairment loss is recognised immediately in profit or loss.

 
2.9

Debtors

Short-term debtors are measured at transaction price. Loans receivable are measured initially at fair value, net of transaction costs.

 
2.10

Cash and cash equivalents

Cash is represented by cash in hand and deposits with financial institutions repayable without penalty on notice of not more than 24 hours. Cash equivalents are highly liquid investments that mature in no more than three months from the date of acquisition and that are readily convertible to known amounts of cash with insignificant risk of change in value.

 
2.11

Creditors

Short-term creditors are measured at the transaction price. Other financial liabilities, including bank loans, are measured initially at fair value, net of transaction costs.

Page 6

 
GILDEN'S ARTS UK LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JULY 2024

3.


Employees

The average monthly number of employees, including directors, during the year was 4 (2023 - 4).


4.


Tangible fixed assets





Office equipment

£



Cost or valuation


At 1 August 2023
29,799



At 31 July 2024

29,799



Depreciation


At 1 August 2023
27,876


Charge for the year on owned assets
481



At 31 July 2024

28,357



Net book value



At 31 July 2024
1,442



At 31 July 2023
1,923


5.


Stocks

2024
2023
£
£

Finished goods and goods for resale
3,600,175
3,327,864

3,600,175
3,327,864




Page 7

 
GILDEN'S ARTS UK LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JULY 2024

6.


Debtors

2024
2023
£
£


Trade debtors
43,246
37,368

Other debtors
4,799
3,690

Prepayments
66,268
39,619

114,313
80,677



7.


Cash and cash equivalents

2024
2023
£
£

Cash at bank and in hand
417,804
822,325

417,804
822,325



8.


Creditors: Amounts falling due within one year

2024
2023
£
£

Trade creditors
17,532
10,027

Corporation tax
13,241
13,598

Other taxation and social security
7,062
6,004

Directors loan and other creditors
3,042,025
3,349,579

Accruals
158,734
9,000

3,238,594
3,388,208




 
Page 8