REGISTERED NUMBER: 06865563 (England and Wales)

UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 JANUARY 2025

FOR

ST IVES SOCIETY OF ARTISTS LTD

Page

Balance Sheet

1

Notes to the Financial Statements

2

FIXED ASSETS

Tangible assets

4

1,495

1,852

CURRENT ASSETS

Stocks

750

750

Debtors

5

1,257

1,197

Cash at bank and in hand

168,583

160,253

170,590

162,200

CREDITORS

Amounts falling due within one year

6

4,636

5,048

NET CURRENT ASSETS

165,954

157,152

TOTAL ASSETS LESS CURRENT LIABILITIES

167,449

159,004

RESERVES

Income and expenditure account

167,449

159,004

167,449

159,004

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 January 2025.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 January 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 surplus or deficit 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 Statement of Income and Retained Earnings has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 8 September 2025 and were signed on its behalf by:

Ms M Keeling - Director

1.	STATUTORY INFORMATION

St Ives Society of Artists Ltd is a private company, limited by guarantee , registered in England and Wales. The company's registered number and registered office address are as below:

Registered number:

06865563

Registered office:

The Gallery

Norway Square

St Ives

Cornwall

TR26 1NA

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 commission on the sale of artwork 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 etc

-

10% 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.

Taxation

Taxation for the year comprises current and deferred tax. Tax is recognised in the Statement of Income and 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.

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 12 (2024 - 10 ) .

4.	TANGIBLE FIXED ASSETS

Plant and

machinery

etc

£

COST

At 1 February 2024

and 31 January 2025

5,464

DEPRECIATION

At 1 February 2024

3,612

Charge for year

357

At 31 January 2025

3,969

NET BOOK VALUE

At 31 January 2025

1,495

At 31 January 2024

1,852

5.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2025

2024

£

£

Other debtors

1,257

1,197

6.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2025

2024

£

£

Taxation and social security

2,192

2,757

Other creditors

2,444

2,291

4,636

5,048

7.	LIABILITY OF MEMBERS

The company is limited by guarantee and the liability of the members is limited to £1 on the winding up of the company.