Company registration number: 04260181
Unaudited financial statements
for the year ended 31 October 2024
for
UK Fine Arts Limited
Pages for filing with the Registrar
Company registration number: 04260181
UK Fine Arts Limited
Balance sheet
as at 31 October 2024
31 Oct 24 31 Oct 23
Note £ £ £ £
Fixed assets
Tangible assets 4 9,369 12,750
9,369 12,750
Current assets
Stocks 505,576 15,108
Debtors 51,909 262,700
Cash at bank and in hand 442,922 794,028
1,000,407 1,071,836
Creditors: amounts falling due within one
year
(1,035,142) (1,037,996)
Net current (liabilities)/assets (34,735) 33,840
Total assets less current liabilities (25,366) 46,590
NET (LIABILITIES)/ASSETS (25,366) 46,590
Capital and reserves
Called up share capital 100 100
Profit and loss account (25,466) 46,490
TOTAL EQUITY (25,366) 46,590
The company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies for the year ended 31 October 2024.
The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The director acknowledges their responsibilities to comply with the Companies Act 2006 in respect to accounting records and the preparation of financial statements.
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Company registration number: 04260181
UK Fine Arts Limited
Balance sheet - continued
as at 31 October 2024
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 Profit and loss account has not been delivered to the Registrar.
Signed by:
Mr W Rau, Director
1 July 2025
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UK Fine Arts Limited
Notes to the financial statements
for the year ended 31 October 2024
1 Company information
UK Fine Arts Limited is a private company registered in England and Wales. Its registered number is 04260181. The company is limited by shares. Its registered office is The Old Farm, Trolliloes, Hailsham, East Sussex, BN27 4QR.
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 historic cost convention.
Going concern
In preparing these financial statements, the director has assessed whether there are any material uncertainties related to events or conditions that cast significant doubt upon the company's ability to continue as a going concern. In making this assessment, the director takes into account all available information about the future which is at least 12 months from the date that the financial statements are authorised for issue.
The director considers that the company has adequate resources to continue in business for the foreseeable future and that it is appropriate to adopt the going concern basis in preparing the financial statements.
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 or, if held under a finance lease, over the lease term, whichever is the shorter.
Motor vehicle:
Plant and machinery - 15% straight line
Computer equipment - 25% straight line
Stocks
Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.
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UK Fine Arts Limited
Notes to the financial statements - continued
for the year ended 31 October 2024
2 Accounting policies - continued
Taxation
Taxation for the year comprises current taxation. 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 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.
3 Average number of employees
During the year the average number of employees was 1 (2023 - 1).
4 Tangible fixed assets
Motor
vehicle
£
Cost
At 1 November 2023 81,064
Additions 1,938
At 31 October 2024 83,002
Depreciation
At 1 November 2023 68,314
Charge for year 5,319
At 31 October 2024 73,633
Net book value
At 31 October 2024 9,369
At 31 October 2023 12,750
If Plant and machinery had not been revalued, Original cost would have been included at the following historical cost:
31 Oct 24 31 Oct 23
£ £
Cost 77,982 77,982
Accumulated depreciation 70,346 65,791
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