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REGISTERED NUMBER: 03616285 (England and Wales)















Debut Art Limited

Financial Statements for the Year Ended 28th February 2025






Debut Art Limited (Registered number: 03616285)

Contents of the Financial Statements
for the Year Ended 28th February 2025










Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


Debut Art Limited

Company Information
for the Year Ended 28th February 2025







DIRECTORS: A C L Coningsby
T Coningsby





SECRETARY: T Coningsby





REGISTERED OFFICE: 30 Tottenham Street
London
WIT 4RJ





REGISTERED NUMBER: 03616285 (England and Wales)





ACCOUNTANTS: Sheen Stickland
Chartered Accountants
2 Oriel Court
Omega Park
Alton
Hampshire
GU34 2YT

Debut Art Limited (Registered number: 03616285)

Balance Sheet
28th February 2025

2025 2024
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 4,695 6,945

CURRENT ASSETS
Debtors 5 564,864 609,485
Cash at bank 1,196,362 1,192,079
1,761,226 1,801,564
CREDITORS
Amounts falling due within one year 6 549,880 663,799
NET CURRENT ASSETS 1,211,346 1,137,765
TOTAL ASSETS LESS CURRENT
LIABILITIES

1,216,041

1,144,710

PROVISIONS FOR LIABILITIES 7 893 1,269
NET ASSETS 1,215,148 1,143,441

CAPITAL AND RESERVES
Called up share capital 8 100 100
Retained earnings 1,215,048 1,143,341
SHAREHOLDERS' FUNDS 1,215,148 1,143,441

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 28th February 2025.

The members have not required the company to obtain an audit of its financial statements for the year ended 28th February 2025 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.

Debut Art Limited (Registered number: 03616285)

Balance Sheet - continued
28th February 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 Profit and Loss Account and Statement of Retained Earnings has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 15th July 2025 and were signed on its behalf by:





A C L Coningsby - Director


Debut Art Limited (Registered number: 03616285)

Notes to the Financial Statements
for the Year Ended 28th February 2025


1. STATUTORY INFORMATION

Debut 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 shown in the accounts represents amounts invoiced during the year after making any necessary adjustments for amounts invoiced in advance at the end of the current and previous year, exclusive of Value Added Tax. Income is made from services for arts and media.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Fixtures and fittings - 25% on cost
Computer equipment - 25% on cost

Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Profit and Loss Account and Statement of Retained Earnings, 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.

Foreign currencies
Assets and liabilities in foreign currencies are translated into sterling at the rates of exchange ruling at the balance sheet date. Transactions in foreign currencies are translated into sterling at the rate of exchange ruling at the date of transaction. Exchange differences are taken into account in arriving at the operating result.

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.

Debut Art Limited (Registered number: 03616285)

Notes to the Financial Statements - continued
for the Year Ended 28th February 2025


2. ACCOUNTING POLICIES - continued

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.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 7 (2024 - 7 ) .

4. TANGIBLE FIXED ASSETS
Fixtures
and Computer
fittings equipment Totals
£    £    £   
COST
At 1st March 2024 5,474 107,281 112,755
Additions - 1,658 1,658
At 28th February 2025 5,474 108,939 114,413
DEPRECIATION
At 1st March 2024 5,474 100,336 105,810
Charge for year - 3,908 3,908
At 28th February 2025 5,474 104,244 109,718
NET BOOK VALUE
At 28th February 2025 - 4,695 4,695
At 29th February 2024 - 6,945 6,945

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2025 2024
£    £   
Trade debtors 543,238 593,181
Amounts owed by group undertakings 16,138 11,856
Prepayments and accrued income 5,488 4,448
564,864 609,485

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2025 2024
£    £   
Trade creditors 411,397 415,307
Corporation Tax 52,050 37,248
Social security and other taxes 10,093 10,590
VAT 2,634 13,955
Other creditors 1,129 991
Directors' current accounts 20,536 81,889
Accruals and deferred income 52,041 103,819
549,880 663,799

Debut Art Limited (Registered number: 03616285)

Notes to the Financial Statements - continued
for the Year Ended 28th February 2025


7. PROVISIONS FOR LIABILITIES
2025 2024
£    £   
Deferred tax 893 1,269

Deferred
tax
£   
Balance at 1st March 2024 1,269
Credit to Profit and Loss Account and Statement of Retained Earnings
during year

(376

)
Balance at 28th February 2025 893



8. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 2025 2024
value: £    £   
90 Ordinary A £1 100 90
10 Ordinary B £1 - 10
100 100

The 'A' and 'B' shares rank pari passu in all respects except that the 'B' shares do not entitle the holders to receive notice of or attend and vote at any general meeting of the company.

9. OTHER FINANCIAL COMMITMENTS

The company has future operating lease commitments of £112,500 (2024 - £157,500). £45,000 is due in less than one year.