REGISTERED NUMBER: 12132588 (England and Wales)

Unaudited Financial Statements for the Year Ended 31 December 2024

for

Old Art School Management Ltd

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

4

DIRECTOR:

K Sharkey

REGISTERED OFFICE:

Blackbrook Hall

London Road

Lichfield

West Midlands

WS14 0PS

REGISTERED NUMBER:

12132588 (England and Wales)

FIXED ASSETS

Tangible assets

4

670,001

-

CURRENT ASSETS

Stocks

-

1,418,021

Debtors

5

30,202

21,340

Cash at bank and in hand

192

7,426

30,394

1,446,787

CREDITORS

Amounts falling due within one year

6

(92,946

)

(62,093

)

NET CURRENT (LIABILITIES)/ASSETS

(62,552

)

1,384,694

TOTAL ASSETS LESS CURRENT LIABILITIES

607,449

1,384,694

CREDITORS

Amounts falling due after more than one year

7

(362,372

)

(1,345,865

)

NET ASSETS

245,077

38,829

CAPITAL AND RESERVES

Called up share capital

10

10

Retained earnings

245,067

38,819

245,077

38,829

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 December 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 December 2024 in accordance with Section 476 of the Companies Act 2006.

The director acknowledges his 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 director and authorised for issue on 29 September 2025 and were signed by:

K Sharkey - Director

1.	STATUTORY INFORMATION

Old Art School Management 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 is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

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

-

33% on cost

Stocks

Work in progress is valued at the lower of cost and net realisable value.

Cost is calculated using the first-in, first-out method and includes all purchase, transport, and handling costs in bringing stocks to their present location and condition.

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 balance sheet date.

Deferred tax

Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet 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.

3.	EMPLOYEES AND DIRECTORS

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

4.	TANGIBLE FIXED ASSETS

Plant and

Land and

machinery

buildings

etc

Totals

£

£

£

COST

At 1 January 2024

-

3,224

3,224

Additions

670,001

-

670,001

At 31 December 2024

670,001

3,224

673,225

DEPRECIATION

At 1 January 2024

and 31 December 2024

-

3,224

3,224

NET BOOK VALUE

At 31 December 2024

670,001

-

670,001

5.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.12.24

31.12.23

£

£

Trade debtors

2,114

1,340

Amounts owed by group undertakings

4,893

-

Amounts owed by associates

19,000

20,000

Other debtors

4,195

-

30,202

21,340

6.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.12.24

31.12.23

£

£

Bank loans and overdrafts

8,000

3,000

Trade creditors

24

11,303

Other creditors

84,922

47,790

92,946

62,093

7.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

31.12.24

31.12.23

£

£

Bank loans

362,372

40,924

Amounts owed to group undertakings

-

1,304,941

362,372

1,345,865

8.	ULTIMATE CONTROLLING PARTY

The controlling party is K Sharkey.