Aktis Gallery (UK) Limited

(Registration number: 07001335)
Balance Sheet as at 31 December 2023

	Note	31.12.23		31.12.22
		£	£	£	£
FIXED ASSETS
Tangible assets	4		-		645
CURRENT ASSETS
Debtors	5	4,159		258,344
Cash at bank and in hand		4,549		13,839
		8,708		272,183
CREDITORS
Creditors within 1yr	6	97,365		179,937
Net current (liabilities)/assets			(88,657)		92,246
Total assets less current liabilities			(88,657)		92,891
Creditors Amounts falling due after more than one year	6		77,500		115,000
Net liabilities			(166,157)		(22,109)
CAPITAL AND RESERVES
Called up share capital			2		2
Profit and loss account			(166,159)		(22,111)
Shareholders' deficit			(166,157)		(22,109)

For the financial year ending 31 December 2023 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

These financial statements have been prepared in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006.

Director's responsibilities:

•	The members have not required the company to obtain an audit of its accounts for the year in question in accordance with section 476; and
•	The director acknowledges her responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

These financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime. As permitted by section 444 (5A) of the Companies Act 2006, the director has not delivered to the registrar a copy of the Profit and Loss Account.

Approved and authorised by the director on 4 September 2025

......................................... Mrs Anna Chalov Director

Aktis Gallery (UK) Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 December 2023

1.	General information

The company is a private company limited by share capital, incorporated in England & Wales.

The address of its registered office is:
Savoy House
Savoy Circus
London
W3 7DA
England

These financial statements were authorised for issue by the director on 4 September 2025.

2.	Accounting policies

Summary of significant accounting policies and key accounting estimates

The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.

Statement of compliance

These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A smaller entities - 'The Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland' and the Companies Act 2006 (as applicable to companies subject to the small companies' regime).

Basis of preparation

These financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.

The presentational currency is Pound Sterling (£).

Revenue recognition

Turnover comprises the fair value of the consideration received or receivable for the sale of goods and provision of services in the ordinary course of the company’s activities. Turnover is shown net of sales/value added tax, returns, rebates and discounts.

The company recognises revenue when:
The amount of revenue can be reliably measured;
it is probable that future economic benefits will flow to the entity;
and specific criteria have been met for each of the company's activities.

Foreign currency transactions and balances

Transactions in foreign currencies are initially recorded at the functional currency rate prevailing at the date of the transaction. Monetary assets and liabilities denominated in foreign currencies are retranslated into the respective functional currency of the entity at the rates prevailing on the reporting period date. Non-monetary items carried at fair value that are denominated in foreign currencies are retranslated at the rate on the date when the fair value is re-measured.

Non-monetary items measured in terms of historical cost in a foreign currency are not retranslated.

Tax

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

Aktis Gallery (UK) Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 December 2023 (continued)

2	Accounting policies (continued)

Tangible assets

Tangible assets are stated in the balance sheet at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.

The cost of tangible assets includes directly attributable incremental costs incurred in their acquisition and installation.

Depreciation

Depreciation is charged so as to write off the cost of assets, other than land and properties under construction over their estimated useful lives, as follows:

Asset class	Depreciation method and rate
Fixtures & fittings	10 years - straight line
Computer equipment	3 years - straight line

Cash and cash equivalents

Cash and cash equivalents comprise cash on hand and call deposits, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value.

Trade debtors

Trade debtors are amounts due from customers for merchandise sold or services performed in the ordinary course of business.

Trade debtors are recognised initially at the transaction price. They are subsequently measured at amortised cost using the effective interest method, less provision for impairment. A provision for the impairment of trade debtors is established when there is objective evidence that the company will not be able to collect all amounts due according to the original terms of the receivables.

Stocks

Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell. Cost is determined using the first-in, first-out (FIFO) method.

The cost of finished goods and work in progress comprises direct materials and, where applicable, direct labour costs and those overheads that have been incurred in bringing the inventories to their present location and condition. At each reporting date, stocks are assessed for impairment. If stocks are 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.

Aktis Gallery (UK) Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 December 2023 (continued)

2	Accounting policies (continued)

Trade creditors

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Accounts payable are classified as current liabilities if the company does not have an unconditional right, at the end of the reporting period, to defer settlement of the creditor for at least twelve months after the reporting date. If there is an unconditional right to defer settlement for at least twelve months after the reporting date, they are presented as non-current liabilities.

Trade creditors are recognised initially at the transaction price and subsequently measured at amortised cost using the effective interest method.

Borrowings

Interest-bearing borrowings are initially recorded at fair value, net of transaction costs. Interest-bearing borrowings are subsequently carried at amortised cost, with the difference between the proceeds, net of transaction costs, and the amount due on redemption being recognised as a charge to the profit and loss account over the period of the relevant borrowing.

Interest expense is recognised on the basis of the effective interest method and is included in interest payable and similar charges.

Borrowings are classified as current liabilities unless the company has an unconditional right to defer settlement of the liability for at least twelve months after the reporting date.

Share capital

Ordinary shares are classified as equity. Equity instruments are measured at the fair value of the cash or other resources received or receivable, net of the direct costs of issuing the equity instruments. If payment is deferred and the time value of money is material, the initial measurement is on a present value basis.

Aktis Gallery (UK) Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 December 2023 (continued)

3.	Staff numbers

The average number of persons employed by the company (including the director) during the year, was 1 (2022 - 1).

Aktis Gallery (UK) Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 December 2023 (continued)

4.	Tangible assets

	Fixtures and fittings £	Office equipment £	Total £
Cost or valuation
At 1 January 2023	25,225	10,249	35,474
Disposals	(25,225)	(10,249)	(35,474)
At 31 December 2023	-	-	-
Depreciation
At 1 January 2023	25,225	9,604	34,829
Eliminated on disposal	(25,225)	(9,604)	(34,829)
At 31 December 2023	-	-	-
Carrying amount
At 31 December 2023	-	-	-
At 31 December 2022	-	645	645

5.

Debtors

Current	31.12.23 £	31.12.22 £
Trade debtors	-	216,279
Prepayments	-	19,140
Other debtors	4,159	22,925
	4,159	258,344

Aktis Gallery (UK) Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 December 2023 (continued)

6.

Creditors

Creditors: amounts falling due within one year

	Note	31.12.23 £	31.12.22 £
Due within one year
Loans and borrowings	7	2,214	-
Trade creditors		41,787	125,444
Accruals and deferred income		13,000	14,129
Other creditors		40,364	40,364
		97,365	179,937