REGISTERED NUMBER: 00519620 (England and Wales)

FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2024

FOR

JOHN BULL (ANTIQUES) LIMITED

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

4

DIRECTORS:

K D Bull

Mrs H B Bull

E M Bull

REGISTERED OFFICE:

10 London Mews

LONDON

W2 1HY

REGISTERED NUMBER:

00519620 (England and Wales)

ACCOUNTANTS:

Stein Richards

Chartered Accountants

10 London Mews

London

W21HY

FIXED ASSETS

Tangible assets

4

1,788

2,193

CURRENT ASSETS

Stocks

82,952

90,118

Debtors

5

5,737

5,704

Cash at bank and in hand

1,646

10,414

90,335

106,236

CREDITORS

Amounts falling due within one year

6

289,592

236,130

NET CURRENT LIABILITIES

(199,257

)

(129,894

)

TOTAL ASSETS LESS CURRENT LIABILITIES

(197,469

)

(127,701

)

CREDITORS

Amounts falling due after more than one year

7

4,393

14,772

NET LIABILITIES

(201,862

)

(142,473

)

CAPITAL AND RESERVES

Called up share capital

25,100

25,100

Retained earnings

(226,962

)

(167,573

)

SHAREHOLDERS' FUNDS

(201,862

)

(142,473

)

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 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 11 September 2025 and were signed on its behalf by:

K D Bull - Director

E M Bull - Director

1.	STATUTORY INFORMATION

John Bull (Antiques) Limited 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.

Going concern

The company has a net deficit at 31 December 2024. However with the continued support of the company's creditors and the resources available, the directors consider the company remains a going concern and so the accounts have continued to be prepared on this basis.

Turnover

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

Provision of goods

Revenue from the sale of goods is recognised in the period in which the goods are invoiced and supplied.

Tangible fixed assets

Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.

Fixtures and fittings

-

10% reducing balance

Computer equipment

-

25% reducing balance

Tangible fixed assets are measured at cost less accumulated depreciation and any accumulated impairment losses.

The assets' residual values, useful lives and depreciation methods are reviewed, and adjusted prospectively if appropriate, or if there is an indication of a significant change since the last reporting date.

Stocks

Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items. Stock includes new goods and antiques. New goods are measured at purchase cost on a first in first out basis. Antiques are measured at purchase cost.

At each balance sheet date, stocks are assessed for impairment. If stock is impaired, the carrying amount is reduced to its net realisable value and the impairment loss is recognised immediately in profit or loss.

Financial instruments

The company only enters into basic financial instruments transactions that result in the recognition of financial assets and liabilities like trade debtors, trade creditors, other debtors, other creditors and loans from related parties.

The basic financial instruments are initially recognised at transaction price and subsequently carried at amortised cost.

Foreign currencies

Assets and liabilities in foreign currencies are translated into sterling at the rates of exchange ruling at the balance sheet 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.

Hire purchase and leasing commitments

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

Pension contributions paid by the company 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 6 (2023 - 6 ) .

4.	TANGIBLE FIXED ASSETS

Fixtures

and

Computer

fittings

equipment

Totals

£

£

£

COST

At 1 January 2024

and 31 December 2024

3,098

44,081

47,179

DEPRECIATION

At 1 January 2024

2,146

42,840

44,986

Charge for year

95

310

405

At 31 December 2024

2,241

43,150

45,391

NET BOOK VALUE

At 31 December 2024

857

931

1,788

At 31 December 2023

952

1,241

2,193

5.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.12.24

31.12.23

£

£

Trade debtors

5,047

4,914

Other debtors

690

790

5,737

5,704

6.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.12.24

31.12.23

£

£

Bank loans and overdrafts

10,397

10,147

Trade creditors

37,344

22,326

Taxation and social security

4,158

5,501

Other creditors

237,693

198,156

289,592

236,130

7.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

31.12.24

31.12.23

£

£

Bank loans

4,393

14,772

8.	OTHER FINANCIAL COMMITMENTS

Operating lease commitments not included in the balance sheet amount to £10,851.55 (2023: £15,436).

9.	RELATED PARTY DISCLOSURES

As at 31 December 2024 the company owed the Directors £234,303 (2023 £194,275).This is included within other creditors. There is no interest payable on this loan and the loan is repayable on demand.