REGISTERED NUMBER: 01534760 (England and Wales)

FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 DECEMBER 2024

FOR

ART MARKETING LIMITED

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

4

DIRECTORS:

M Last

N A Waller

REGISTERED OFFICE:

Unit 1 Redbourn Industrial Estate

High Street

Redbourn

St Albans

Hertfordshire

AL3 7LG

REGISTERED NUMBER:

01534760 (England and Wales)

AUDITORS:

Sargeant Partnership Limited

Chartered Accountants

and Statutory Auditors

5 White Oak Square

London Road

Swanley

Kent

BR8 7AG

FIXED ASSETS

Intangible assets

4

78,462

84,714

Tangible assets

5

65,635

65,120

144,097

149,834

CURRENT ASSETS

Stocks

530,665

357,842

Debtors

6

1,097,869

983,092

Cash at bank and in hand

52,689

238,381

1,681,223

1,579,315

CREDITORS

Amounts falling due within one year

7

834,880

796,630

NET CURRENT ASSETS

846,343

782,685

TOTAL ASSETS LESS CURRENT LIABILITIES

990,440

932,519

CREDITORS

Amounts falling due after more than one year

8

42,518

113,472

NET ASSETS

947,922

819,047

CAPITAL AND RESERVES

Called up share capital

11

2,565

2,565

Capital redemption reserve

12

2,572

2,572

Retained earnings

12

942,785

813,910

SHAREHOLDERS' FUNDS

947,922

819,047

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 29 September 2025 and were signed on its behalf by:

M Last - Director

1.	STATUTORY INFORMATION

Art Marketing 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.

Preparation of consolidated financial statements

The financial statements contain information about Art Marketing Limited as an individual company and do not contain consolidated financial information as the parent of a group. The company is exempt under Section 401 of the Companies Act 2006 from the requirements to prepare consolidated financial statements as it and its subsidiary undertaking are included by full consolidation in the consolidated financial statements of its parent, Gallery Direct 2013 Limited, C/o Gallery Direct Ltd, Castle Road, Eurolink Commercial Park, Sittingbourne, Kent, ME10 3RN.

Critical accounting judgements and key sources of estimation uncertainty

In the application of the group's accounting policies, the directors are required to make judgements, estimates and assumptions about the carrying amount of assets and liabilities that are not readily apparent from other sources. The estimates and associated assumptions are based on historical experience and other factors that are considered to be relevant. Actual results may differ from these estimates.

The estimates and underlying assumptions are reviewed on an ongoing basis. Revisions to accounting estimates are recognised in the period in which the estimate is revised where the revision affects only that period, or in the period of the revision and future periods where the revision affects both current and future periods.

There are no estimates and assumptions that have a significant risk of causing a material adjustment to the carrying amount of assets and liabilities in these accounts.

Turnover

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

Intangible assets

Intangible assets acquired separately from a business are recognised at cost and are subsequently measured at cost less accumulated amortisation and accumulated impairment losses.

Intangible assets acquired on business combinations are recognised separately from goodwill at the

acquisition date where it is probable that the expected future economic benefits that are attributable to the asset will flow to the entity and the fair value of the asset can be measured reliably; the intangible asset arises from contractual or other legal rights; and the intangible asset is separable from the entity.

Amortisation is recognised so as to write off the cost or valuation of assets less their residual values over their useful lives on the following bases:

Software & Website costs - 25% reducing balance

Tangible fixed assets

Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life or, if held under a finance lease, over the lease term, whichever is the shorter.

Improvements to property

-

25% per annum on reducing balance

Plant and machinery

-

25% per annum on reducing balance

Motor vehicles

-

25% per annum on reducing balance

Stocks

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

At each reporting date, an assessment is made for impairment. Any excess of the carrying amount of stocks over its estimated selling price less costs to complete and sell is recognised as an impairment loss in profit or loss. Reversals of impairment losses are also recognised in profit or loss.

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.

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

Assets obtained under hire purchase contracts or finance leases are capitalised in the balance sheet. Those held under hire purchase contracts are depreciated over their estimated useful lives. Those held under finance leases are depreciated over their estimated useful lives or the lease term, whichever is the shorter.

The interest element of these obligations is charged to profit or loss over the relevant period. The capital element of the future payments is treated as a liability.

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.

Payments to defined contribution retirement benefit schemes are charged as an expense as they fall due.

Functional currency

The functional currency of the Company is the Great British Pound ("GBP ").

Monetary assets and liabilities denominated in currencies other than the functional currency are translated into the functional currency at rates of exchange prevailing at the balance sheet dates.

Transactions denominated in currencies other than the functional currency are translated into the functional currency at the exchange rates prevailing at the dates of the transaction.

Exchange gains or losses arising from foreign currency transactions are included in the determination of net income (loss) for the respective periods.

Cash and cash equivalents

Cash and cash equivalents are basic financial assets and include cash in hand, deposits held at call with banks, other short-term liquid investments with original maturities of three months or less, and bank overdrafts. Bank overdrafts are shown within borrowings in current liabilities.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 22 (2023 - 26 ) .

4.	INTANGIBLE FIXED ASSETS

Computer

software

£

COST

At 1 January 2024

167,085

Additions

13,541

Reclassification/transfer

3,750

At 31 December 2024

184,376

AMORTISATION

At 1 January 2024

82,371

Amortisation for year

23,152

Reclassification/transfer

391

At 31 December 2024

105,914

NET BOOK VALUE

At 31 December 2024

78,462

At 31 December 2023

84,714

5.	TANGIBLE FIXED ASSETS

Improvements

to

Plant and

Motor

property

machinery

vehicles

Totals

£

£

£

£

COST

At 1 January 2024

-

457,459

33,095

490,554

Additions

8,800

12,274

-

21,074

Disposals

(1,825

)

(42,879

)

-

(44,704

)

Reclassification/transfer

90,449

(94,199

)

-

(3,750

)

At 31 December 2024

97,424

332,655

33,095

463,174

DEPRECIATION

At 1 January 2024

-

412,506

12,928

425,434

Charge for year

6,977

5,181

5,042

17,200

Eliminated on disposal

(1,825

)

(42,879

)

-

(44,704

)

Reclassification/transfer

65,473

(65,864

)

-

(391

)

At 31 December 2024

70,625

308,944

17,970

397,539

NET BOOK VALUE

At 31 December 2024

26,799

23,711

15,125

65,635

At 31 December 2023

-

44,953

20,167

65,120

Fixed assets, included in the above, which are held under hire purchase contracts are as follows:

Motor

vehicles

£

COST

At 1 January 2024

and 31 December 2024

33,095

DEPRECIATION

At 1 January 2024

12,928

Charge for year

5,042

At 31 December 2024

17,970

NET BOOK VALUE

At 31 December 2024

15,125

At 31 December 2023

20,167

6.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2024

2023

£

£

Trade debtors

306,947

517,826

Amounts owed by group undertakings

400,000

-

Other debtors

390,922

465,266

1,097,869

983,092

7.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2024

2023

£

£

Bank loans and overdrafts

66,000

66,000

Hire purchase contracts (see note 9)

4,954

4,954

Trade creditors

552,246

456,971

Taxation and social security

96,686

124,732

Other creditors

114,994

143,973

834,880

796,630

8.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

2024

2023

£

£

Bank loans

33,000

99,000

Hire purchase contracts (see note 9)

9,518

14,472

42,518

113,472

9.	LEASING AGREEMENTS

Minimum lease payments fall due as follows:

Hire purchase

contracts

2024

2023

£

£

Net obligations repayable:

Within one year

4,954

4,954

Between one and five years

9,518

14,472

14,472

19,426

Non-cancellable

operating leases

2024

2023

£

£

Within one year

42,500

142,025

Between one and five years

170,000

568,100

In more than five years

106,250

347,800

318,750

1,057,925

10.	DEFERRED TAX

£

Balance at 1 January 2024

(55,308

)

Provided during year

40,945

Balance at 31 December 2024

(14,363

)

11.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

2024

2023

value:

£

£

467

Ordinary A

£1

467

467

135

Ordinary C

£1

135

135

1,963

Ordinary D

£1

1,963

1,963

2,565

2,565

12.

RESERVES

Capital

Retained

redemption

earnings

reserve

Totals

£

£

£

At 1 January 2024

813,910

2,572

816,482

Profit for the year

128,875

128,875

At 31 December 2024

942,785

2,572

945,357

13.	DISCLOSURE UNDER SECTION 444(5B) OF THE COMPANIES ACT 2006

The Report of the Auditors was unqualified.

Joanne Brown (Senior Statutory Auditor)

for and on behalf of Sargeant Partnership Limited

14.	RELATED PARTY DISCLOSURES

The company has taken advantage of exemption, under the terms of Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland', not to disclose related party transactions with wholly owned subsidiaries within the group.

Orion Warehouse Services Limited is a related party of Art Marketing Limited due to it being under common ownership.

During the year Orion Warehouse Services Limited raised purchase invoices to Art Marketing Limited of £479,491 (2023: £128,263). At the balance sheet date Art Marketing Limited owed Orion Warehouse Services Limited £214,041 (2023: £126,819) by way of a trade creditor.

During the year Art Marketing issued sales invoices to Orion Warehouse Services Limited of £12,094 (2023: £NIL). At the balance sheet date Orion Warehouse Services Limited owed Art Marketing Limited £6,728 (2023: £NIL) by way of a trade debtor.

Poole Lighting Limited is a related party of Art Marketing Limited due to it being under common ownership.

During the year Poole Lighting Limited raised purchase invoices to Art Marketing Limited of £35,143 (2023: £NIL). At the balance sheet date Art Marketing Limited owed Poole Lighting Limited £20,340 (2023: £NIL) by way of a trade creditor.

During the year Art Marketing issued sales invoices to Poole Lighting Limited of £1,100 (2023: £NIL). At the balance sheet date Poole Lighting Limited owed Art Marketing Limited £NIL (2023: £NIL) by way of a trade debtor.

Willow & Hall Limited is a related party of Art Marketing Limited due to it being under common ownership.

During the year Art Marketing issued sales invoices to Willow & Hall Limited of £13,479 (2023: £NIL). At the balance sheet date Willow & Hall Limited owed Art Marketing Limited £1,200 (2023: £NIL) by way of a trade debtor.

15.	ULTIMATE CONTROLLING PARTY

The Ultimate Controlling Party is Mr M Maslo by virtue of his shareholding in Gallery Direct 2013 Limited (Ultimate Parent Company) a company registered in England & Wales.

16.	KEY MANAGEMENT

M Last

Group CEO

D Ormonde

Managing Director

N Waller

Creative Director

N Atkinson

Group Finance Director

O Hirjan

Finance Director