REGISTERED NUMBER: 04311999 (England and Wales)

The Fine Art Group Limited

Unaudited Financial Statements

for the Year Ended 31 December 2024

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

3

Directors:

E C R Schneider

K J Smith

Registered office:

17 Hill Street

London

W1J 5LJ

Registered number:

04311999 (England and Wales)

Fixed assets

Investments

4

2,955,044

2,730,044

Current assets

Debtors

5

471,448

258,961

Cash at bank

-

22

471,448

258,983

Creditors

Amounts falling due within one year

6

2,476,005

1,657,306

Net current liabilities

(2,004,557

)

(1,398,323

)

Total assets less current liabilities

950,487

1,331,721

Creditors

Amounts falling due after more than one year

7

867,325

1,301,596

Net assets

83,162

30,125

Capital and reserves

Called up share capital

2

2

Retained earnings

8

83,160

30,123

83,162

30,125

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 December 2025 and were signed on its behalf by:

K J Smith - Director

1.	Statutory information

The Fine Art Group 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 financial statements have been prepared on a going concern basis. The Directors have reviewed and considered relevant information, including the annual budget and future cash flows in making their assessment.

Turnover

Turnover represents amounts receivable for services provided in the year and is stated net of VAT.

Investments in subsidiaries

Investments in subsidiary undertakings are recognised at cost.

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.

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.

Financial instruments

The company only enters into basic financial instrument transactions that result in the recognition of financial assets and liabilities like trade and other debtors, creditors, loans from the bank and other third parties, loans to related parties, and investment in ordinary shares.

Financial assets and liabilities are offset and the net amount reported in the balance sheet when there is an enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously.

3.	Employees and directors

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

4.	Fixed asset investments

Shares in

group

undertakings

£

Cost

At 1 January 2024

2,730,044

Additions

225,000

At 31 December 2024

2,955,044

Net book value

At 31 December 2024

2,955,044

At 31 December 2023

2,730,044

5.

Debtors: amounts falling due within one year

2024

2023

£

£

Amounts owed by group undertakings

471,446

258,522

Other debtors

2

439

471,448

258,961

6.

Creditors: amounts falling due within one year

2024

2023

£

£

Bank loans and overdrafts

26

-

Trade creditors

18,930

-

Amounts owed to group undertakings

2,454,330

1,645,748

Taxation and social security

-

1,647

Other creditors

2,719

9,911

2,476,005

1,657,306

7.

Creditors: amounts falling due after more than one year

2024

2023

£

£

Other creditors

867,325

1,301,596

8.

Reserves

Retained

earnings

£

At 1 January 2024

30,123

Profit for the year

53,037

At 31 December 2024

83,160