Company No: 07795620 (England and Wales)

Contents

• Company Information
• Balance Sheet
• Notes to the Financial Statements

DIRECTORS	Alma Luxembourg
	Daniella Luxembourg

REGISTERED OFFICE	2 Savile Row
	London
	W1S 3PA
	United Kingdom

COMPANY NUMBER

07795620 (England and Wales)

	Note	2024		2023
		£		£
Fixed assets
Tangible assets	3	23,712		18,185
		23,712		18,185
Current assets
Stocks		185,872		192,041
Debtors
- due within one year	4	283,275		318,793
- due after more than one year	4	81,000		81,000
Cash at bank and in hand		5,375,326		3,213,647
		5,925,473		3,805,481
Creditors: amounts falling due within one year	5	( 2,860,951)		( 215,321)
Net current assets		3,064,522		3,590,160
Total assets less current liabilities		3,088,234		3,608,345
Net assets		3,088,234		3,608,345
Capital and reserves
Called-up share capital		100,000		100,000
Capital redemption reserve		50,000		50,000
Profit and loss account		2,938,234		3,458,345
Total shareholders' funds		3,088,234		3,608,345

For the financial year ending 31 December 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Directors' responsibilities:

• The members have not required the company to obtain an audit of its financial statements for the financial year in accordance with section 476;
• The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements; and
• These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime and a copy of the Profit and Loss Account has not been delivered.

The financial statements of Luxembourg and Co Art Limited (registered number: 07795620) were approved and authorised for issue by the Board of Directors on 12 September 2025. They were signed on its behalf by:

Alma Luxembourg Director

1. Accounting policies

The principal accounting policies are summarised below. They have all been applied consistently throughout the financial year and to the preceding financial year, unless otherwise stated.

General information and basis of accounting

Luxembourg and Co Art Limited (the Company) is a private company, limited by shares, incorporated in the United Kingdom under the Companies Act 2006 and is registered in England and Wales. The address of the Company's registered office is 2 Savile Row, London, W1S 3PA, England, United Kingdom.

The financial statements have been prepared under the historical cost convention in accordance with Section 1A of Financial Reporting Standard 102 (FRS 102) ‘The Financial Reporting Standard applicable in the UK and Republic of Ireland’ issued by the Financial Reporting Council and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime.

The financial statements are presented in pounds sterling which is the functional currency of the Company and rounded to the nearest £.

Prior year adjustment

There has been a prior period adjustment to 2023 for the inclusion of additional expenses.

The overall effect is a decrease in net assets of £93,231 with changes to the 2023 comparatives as follows:
- Decrease in the Debtors due within one year of £163,297
- Increase in the Cash at bank and in hand of £57,314
- Decrease in the Creditors: amounts falling due within one year of £12,752
- Decrease in the Profit and loss account of £93,231.

Foreign currency

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 measured in terms of historical cost in a foreign currency are not retranslated.

Turnover

Income from direct sales of works of art is recognised in turnover when a sale has been agreed and it is highly probable that payment will be received by the company. Commission income is recognised when the right to consideration accrues. Income from consultancy services is recognised when the services are performed.

For sales of works where the substance of the arrangement is that the company is acting as agent, only the company’s commission or share of sale proceeds is recognised in turnover.

Taxation

Current tax
The current 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.

Deferred tax
Deferred tax arises as a result of including items of income and expenditure in taxation computations in periods different from those in which they are included in the company's financial statements. Deferred tax is provided in full on timing differences which result in an obligation to pay more or less tax at a future date, at the average tax rates that are expected to apply when the timing differences reverse, based on current tax rates and laws. Deferred tax assets and liabilities are not discounted.

The carrying amount of deferred tax assets are reviewed at each reporting date and a valuation allowance is set up against deferred tax assets so that the net carrying amount equals the highest amount that is more likely than not to be recovered based on current or future taxable profit.

Tangible fixed 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.

Land and buildings	4 years straight line
	depreciated over the life of the lease
Fixtures and fittings	25 % reducing balance

Residual value represents the estimated amount which would currently be obtained from disposal of an asset, after deducting estimated costs of disposal, if the asset were already of the age and in the condition expected at the end of its useful life.

Leases

The company as lessee
Rentals under operating leases are charged to the profit and loss account evenly over the lease term.

Stocks

Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell. 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.

Trade and other 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 debtors.

Trade and other creditors

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Trade creditors 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.

Financial instruments

Financial instruments are classified and accounted for, according to the substance of the contractual arrangement, as financial assets, financial liabilities or equity instruments.

The company's financial instruments comprise cash at bank and short term receivables and payables. No amounts have been designated as at fair value through Profit & Loss.

Ordinary share capital

The ordinary share capital of the Company is presented as equity.

2. Employees

	2024		2023
	Number		Number
Monthly average number of persons employed by the Company during the year, including directors	8		7

3. Tangible assets

	Land and buildings		Fixtures and fittings		Total
	£		£		£
Cost
At 01 January 2024	81,511		105,813		187,324
Additions	8,115		3,169		11,284
At 31 December 2024	89,626		108,982		198,608
Accumulated depreciation
At 01 January 2024	81,511		87,628		169,139
Charge for the financial year	418		5,339		5,757
At 31 December 2024	81,929		92,967		174,896
Net book value
At 31 December 2024	7,697		16,015		23,712
At 31 December 2023	0		18,185		18,185

4. Debtors

	2024		2023
	£		£
Debtors: amounts falling due within one year
Trade debtors	5,837		156,406
Deferred tax asset	66,780		0
Other debtors	210,658		162,387
	283,275		318,793
Debtors: amounts falling due after more than one year
Other debtors	81,000		81,000

Other debtors falling due after more than one year comprise an office lease deposit.

5. Creditors: amounts falling due within one year

	2024		2023
	£		£
Trade creditors	2,697,556		45,455
Corporation tax	0		62,805
Other taxation and social security	35,890		63,367
Other creditors	127,505		43,694
	2,860,951		215,321

6. Financial commitments

Other financial commitments

	2024		2023
	£		£
Other financial commitments not on the balance sheet	312,500		512,656