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Registered number: 03503708
Art Properties Limited
Unaudited Financial Statements
For The Year Ended 31 March 2025
Mikailian & Co
Suite 8, 1-3 Little Titchfield Street
London
W1W 7BU
Contents
Page
Balance Sheet 1
Notes to the Financial Statements 2—3
Page 1
Balance Sheet
Registered number: 03503708
2025 2024
Notes £ £ £ £
FIXED ASSETS
Tangible Assets 4 775,929 775,945
775,929 775,945
CURRENT ASSETS
Debtors 5 1,450 -
Cash at bank and in hand 2,632 43,316
4,082 43,316
Creditors: Amounts Falling Due Within One Year 6 (714,546 ) (676,180 )
NET CURRENT ASSETS (LIABILITIES) (710,464 ) (632,864 )
TOTAL ASSETS LESS CURRENT LIABILITIES 65,465 143,081
Creditors: Amounts Falling Due After More Than One Year 7 (64,794 ) (125,722 )
NET ASSETS 671 17,359
CAPITAL AND RESERVES
Called up share capital 8 100 100
Profit and Loss Account 571 17,259
SHAREHOLDERS' FUNDS 671 17,359
For the year ending 31 March 2025 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
The member has not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
These accounts have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.
The company has taken advantage of section 444(1) of the Companies Act 2006 and opted not to deliver to the registrar a copy of the company's Profit and Loss Account.
On behalf of the board
Mr J Sheri
Director
18/07/2025
The notes on pages 2 to 3 form part of these financial statements.
Page 1
Page 2
Notes to the Financial Statements
1. General Information
Art Properties Limited is a private company, limited by shares, incorporated in England & Wales, registered number 03503708 . The registered office is Suite 8, 1-3 Little Titchfield Street, London, W1W 7BU.
2. Accounting Policies
2.1. Basis of Preparation of Financial Statements
The financial statements are prepared under the historical cost convention and in accordance with the Financial Reporting Standard for Smaller Entities (effective April 2008).
2.2. Turnover
Turnover comprises the invoiced value of goods and services supplied by the company, net of Value Added Tax and trade discounts.
2.3. Tangible Fixed Assets and Depreciation
Tangible fixed assets are stated at cost less depreciation. Depreciation is provided at rates calculated to write off the cost of the fixed assets, less their estimated residual value, over their expected useful lives on the following bases:
Leasehold 0% of Net Book Value
Fixtures & Fittings 25% of Net Book Value
2.4. Taxation
The charge for taxation takes into account taxation deferred as a result of timing differences between the treatment of certain items for taxation and accounting purposes. In general, deferred taxation is recognised in respect of timing differences that have originated but not reversed at the balance sheet date. However, deferred tax assets are recognised only to the extent that the directors consider that it is more likely than not that there will be suitable taxable profits from which the future reversal of the underlying timing differences can be deducted. Deferred taxation is measured on a non-discounted basis at the tax rates that are expected to apply in periods in which the timing differences reverse, based on tax rates and the law enacted or substantively enacted at the balance sheet date.
2.5. Registrar Filing Requirements
The company has taken advantage of Companies Act 2006 section 444(1) and opted not to file the profit and loss account, directors report, and notes to the financial statements relating to the profit and loss account.
3. Average Number of Employees
Average number of employees, including directors, during the year was:
2025 2024
Office and administration 2 2
2 2
4. Tangible Assets
Land & Property
Leasehold Fixtures & Fittings Total
£ £ £
Cost
As at 1 April 2024 772,118 16,452 788,570
As at 31 March 2025 772,118 16,452 788,570
Depreciation
As at 1 April 2024 - 12,625 12,625
Provided during the period - 16 16
As at 31 March 2025 - 12,641 12,641
...CONTINUED
Page 2
Page 3
Net Book Value
As at 31 March 2025 772,118 3,811 775,929
As at 1 April 2024 772,118 3,827 775,945
5. Debtors
2025 2024
£ £
Due within one year
Trade debtors 1,450 -
6. Creditors: Amounts Falling Due Within One Year
2025 2024
£ £
Corporation tax 4,768 5,187
Accruals and deferred income 2,134 3,498
Director's loan account 707,644 667,495
714,546 676,180
7. Creditors: Amounts Falling Due After More Than One Year
2025 2024
£ £
Bank loans 64,794 125,722
8. Share Capital
2025 2024
£ £
Allotted, Called up and fully paid 100 100
9. Directors Advances, Credits and Guarantees
Dividends paid to directors
10. Dividends
2025 2024
£ £
On equity shares:
Final dividend paid 37,000 62,000
11. Ultimate Controlling Party
The company's ultimate controlling party is by virtue of his ownership of 100% of the issued share capital in the company.
Page 3