REGISTERED NUMBER: 06749925 (England and Wales)

Unaudited Financial Statements

for the Year Ended 30 November 2024

for

Hockley Smith Fine Art Consulting Ltd

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

4

DIRECTORS:

M R Hockley Smith

Mrs R A Hockley Smith

REGISTERED OFFICE:

Ward Mackenzie Ltd

Thatcher House

12 Mount Ephraim

Tunbridge Wells

Kent

TN4 8AS

REGISTERED NUMBER:

06749925 (England and Wales)

ACCOUNTANTS:

Ward Mackenzie Ltd

Chartered Accountants

Thatcher House

12 Mount Ephraim

Tunbridge Wells

Kent

TN4 8AS

FIXED ASSETS

Tangible assets

4

3,829

3,434

CURRENT ASSETS

Stocks

2,500

2,780

Debtors

5

12,537

777

Cash at bank

92,007

51,326

107,044

54,883

CREDITORS

Amounts falling due within one year

6

(41,126

)

(19,612

)

NET CURRENT ASSETS

65,918

35,271

TOTAL ASSETS LESS CURRENT LIABILITIES

69,747

38,705

CREDITORS

Amounts falling due after more than one year

7

(5,833

)

(10,833

)

NET ASSETS

63,914

27,872

CAPITAL AND RESERVES

Called up share capital

3

3

Retained earnings

8

63,911

27,869

SHAREHOLDERS' FUNDS

63,914

27,872

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30 November 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 30 November 2024 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.

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 Income Statement has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 4 June 2025 and were signed on its behalf by:

M R Hockley Smith - Director

1.	STATUTORY INFORMATION

Hockley Smith Fine Art Consulting Ltd 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.

The presentation currency of the financial statements is the Pound Sterling (£).

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 represents net invoiced of services, excluding value added tax

TANGIBLE FIXED ASSETS

Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful

life.

Plant and machinery - 20% on reducing balance

Computer equipment - 20% on reducing balance

STOCKS

Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.

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.

DEFERRED TAX

Deferred tax is not recognised in respect of all timing differences that have originated but not reversed at the balance sheet date as these are considered immaterial.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 2 (2023 - 2 ) .

4.	TANGIBLE FIXED ASSETS

Plant and

Computer

machinery

equipment

Totals

£

£

£

COST

At 1 December 2023

6,693

2,208

8,901

Additions

836

415

1,251

At 30 November 2024

7,529

2,623

10,152

DEPRECIATION

At 1 December 2023

5,245

222

5,467

Charge for year

431

425

856

At 30 November 2024

5,676

647

6,323

NET BOOK VALUE

At 30 November 2024

1,853

1,976

3,829

At 30 November 2023

1,448

1,986

3,434

5.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2024

2023

£

£

Trade debtors

12,019

-

VAT

-

777

Prepayments and accrued income

518

-

12,537

777

The directors consider the carrying value of trade and other receivables approximate to their fair values.

6.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2024

2023

£

£

Bank loans and overdrafts

5,000

5,000

Trade creditors

10,201

7,886

Corporation tax

19,471

3,961

VAT

4,978

-

Other creditors

-

1,033

Directors' loan accounts

127

106

Accrued expenses

1,349

1,626

41,126

19,612

The directors consider the carrying amounts of current liabilities approximate to their fair values.

7.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

2024

2023

£

£

Bank loans - 1-2 years

5,833

10,000

Bank loans - 2-5 years

-

833

5,833

10,833

8.

RESERVES

Retained

earnings

£

At 1 December 2023

27,869

Profit for the year

58,142

Dividends

(22,100

)

At 30 November 2024

63,911

The Profit and loss account comprises all current and prior period retained profit and losses after deducting any distributions made to the company's shareholders. This is a distributable reserve.

9.	DIRECTORS' ADVANCES, CREDITS AND GUARANTEES

The following advances and credits to directors subsisted during the years ended 30 November 2024 and 30 November 2023:

2024

2023

£

£

M R Hockley Smith and Mrs R A Hockley Smith

Balance outstanding at start of year

(106

)

(51

)

Amounts advanced

33,908

9,000

Amounts repaid

(33,929

)

(9,055

)

Amounts written off

-

-

Amounts waived

-

-

Balance outstanding at end of year

(127

)

(106

)

10.	RELATED PARTY DISCLOSURES

During the year, total dividends of £22,100 (2023 - £3,650) were paid to the directors.

11.	ULTIMATE CONTROLLING PARTY

The company is controlled by the directors, M R Hockley Smith and Mrs. R A Hockley Smith.