REGISTERED NUMBER: 08918521 (England and Wales)

Financial Statements for the Year Ended 31 March 2025

for

Sulis Fine Art Ltd

Page

Company Information

1

Statement of Financial Position

2

Notes to the Financial Statements

3

DIRECTORS:

W Nadel

D Nadel

REGISTERED OFFICE:

3 Eastheath Gardens

Wokingham

Berkshire

RG41 2PH

REGISTERED NUMBER:

08918521 (England and Wales)

ACCOUNTANTS:

Millward, May & Co

The Overhangs

55a Peach Street

Wokingham

Berkshire

RG40 1XP

FIXED ASSETS

Tangible assets

4

8,858

7,267

CURRENT ASSETS

Stocks

458,757

458,491

Debtors

5

8,745

16,836

Cash at bank

46,270

87,609

513,772

562,936

CREDITORS

Amounts falling due within one year

6

45,412

94,590

NET CURRENT ASSETS

468,360

468,346

TOTAL ASSETS LESS CURRENT LIABILITIES

477,218

475,613

PROVISIONS FOR LIABILITIES

1,709

1,700

NET ASSETS

475,509

473,913

CAPITAL AND RESERVES

Called up share capital

8

100

100

Retained earnings

475,409

473,813

SHAREHOLDERS' FUNDS

475,509

473,913

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

The members have not required the company to obtain an audit of its financial statements for the year ended 31 March 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 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 7 July 2025 and were signed on its behalf by:

D Nadel - Director

1.	STATUTORY INFORMATION

Sulis Fine Art 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.

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 sales of goods, excluding margin scheme VAT.

Tangible fixed assets

Depreciation is provided in order to write off the cost less estimated residual value of each asset according to its useful economic life as follows:

Computer Equipment - 3 years straight line

Computer Software - 3 years straight line

Office Equipment - 5 years straight line

Site Improvements - 5 years straight line

Plant & Machinery - 4 years straight line

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 Income Statement, 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 statement of financial position date.

Deferred tax

Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the statement of financial position date.

Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from those in which they are recognised in financial statements. Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the year end and that are expected to apply to the reversal of the timing difference.

Unrelieved tax losses and other deferred tax assets are recognised only to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits.

Foreign currencies

Assets and liabilities in foreign currencies are translated into sterling at the rates of exchange ruling at the statement of financial position 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.

Leasing commitments

Property and car rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease.

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 8 (2024 - 8 ) .

4.	TANGIBLE FIXED ASSETS

Fixtures

Plant and

and

Computer

machinery

fittings

equipment

Totals

£

£

£

£

COST

At 1 April 2024

1,427

20,507

13,603

35,537

Additions

820

2,142

3,779

6,741

Disposals

-

-

(9,198

)

(9,198

)

At 31 March 2025

2,247

22,649

8,184

33,080

DEPRECIATION

At 1 April 2024

349

15,749

12,172

28,270

Charge for year

418

3,417

1,315

5,150

Eliminated on disposal

-

-

(9,198

)

(9,198

)

At 31 March 2025

767

19,166

4,289

24,222

NET BOOK VALUE

At 31 March 2025

1,480

3,483

3,895

8,858

At 31 March 2024

1,078

4,758

1,431

7,267

5.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.3.25

31.3.24

£

£

Other debtors

8,745

16,836

6.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.3.25

31.3.24

£

£

Bank loans and overdrafts

-

29

Trade creditors

1,480

15,451

Taxation and social security

21,105

34,362

Other creditors

22,827

44,748

45,412

94,590

7.	LEASING AGREEMENTS

Minimum lease payments under non-cancellable operating leases fall due as follows:

31.3.25

31.3.24

£

£

Within one year

48,454

42,326

Between one and five years

154,888

153,268

In more than five years

-

30,938

203,342

226,532

8.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

31.3.25

31.3.24

value:

£

£

100

Ordinary

£1

100

100

9.	RELATED PARTY DISCLOSURES