Johnny Van Haeften Limited - Filleted accounts

Registered number

01345215

Johnny Van Haeften Limited

Filleted Accounts

31 March 2025

Johnny Van Haeften Limited
Registered number:		01345215
Balance Sheet
as at 31 March 2025

Notes			2025			2024
£				£
Fixed assets
Tangible assets	3		3,338			4,563

Current assets
Stocks		3,734,159			4,656,934
Debtors	4	147,781			166,350
Cash at bank and in hand		2,208			7,979
		3,884,148			4,831,263

Creditors: amounts falling due within one year	5	(2,828,679)			(3,436,427)

Net current assets			1,055,469			1,394,836

Net assets			1,058,807			1,399,399

Capital and reserves
Called up share capital			50,000			50,000
Profit and loss account			1,008,807			1,349,399

Shareholders' funds			1,058,807			1,399,399

The directors are satisfied that the company is entitled to exemption from the requirement to obtain an audit under section 477 of the Companies Act 2006.
The members have not required the company to obtain an audit in accordance with section 476 of the Act.
The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts.
The accounts have been prepared and delivered in accordance with the special provisions applicable to companies subject to the small companies regime. The profit and loss account has not been delivered to the Registrar of Companies.




Mr J H Van Haeften
Director
Approved by the board on 12 December 2025

Johnny Van Haeften Limited
Notes to the Accounts
for the year ended 31 March 2025


1	Accounting policies

	Basis of preparation
	The accounts have been prepared under the historical cost convention and in accordance with FRS 102, The Financial Reporting Standard applicable in the UK and Republic of Ireland (as applied to small entities by section 1A of the standard).

	Turnover
	Revenue is recognised to the extent that it is probable that the economic benefits will flow to the company and the revenue can be reliably measured. Revenue is measured as the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. The following criteria must also be met before revenue is recognised: Sale of goods Revenue from the sale of goods is recognised when all of the following conditions are satisfied: . the company has transferred the significant risks and rewards of ownership to the buyer; . the company retains neither continuing managerial involvement to the degree usually associated with ownership nor effective control over the goods sold; . the amount of revenue can be measured reliably; . it is probable that the company will receive the consideration due under the transaction; and . the costs incurred or to be incurred in respect of the transaction can be measured reliably. Intermediary commissions Revenue from commissions are recognised upon the agreement of transactions by the principal.

	Tangible fixed assets
	Tangible fixed assets are measured at cost less accumulative depreciation and any accumulative impairment losses. Depreciation is provided on all tangible fixed assets, other than freehold land, at rates calculated to write off the cost, less estimated residual value, of each asset evenly over its expected useful life, as follows:

	Computer equipment	33% per annum
	Fixtures & fittings	15% per annum

	Stocks
	Stocks are stated at the lower of cost and net realisable value, being the estimated selling price less costs to complete and sell. Cost is based on the cost of purchase of works of art and attributable overheads. At each reporting date, stocks are assessed for impairment. lf stock is impaired, the carrying amount is reduced to its selling price less costs to complete and sell. The impairment loss is recognised immediately in the statement of comprehensive income.

	Debtors
	Short term debtors are measured at transaction price, less any impairment. Loans receivable are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method, less any impairment.

	Creditors
	Short term creditors are measured at the transaction price. Other financial liabilities, including bank loans, are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method.

	Current and deferred taxation
	Tax is recognised in the statement of comprehensive income, except that a charge attributable to an item of income and expense recognised as other comprehensive income or to an item recognised directly in equity is also recognised in other comprehensive income or directly in equity respectively. The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the reporting date in the countries where the company operates and generates income. Deferred tax balances are recognised in respect of all timing differences that have originated but not reversed by the statement of financial position date, except that: . The recognition of deferred tax assets is limited to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits; and . Any deferred tax balances are reversed if and when all conditions for retaining associated tax allowances have been met. Deferred tax balances are not recognised in respect of permanent differences except in respect of business combinations, when deferred tax is recognised on the differences between the fair values of assets acquired and the future tax deductions available for them and the differences between the fair values of liabilities acquired and the amount that will be assessed for tax. Deferred tax is determined using tax rates and laws that have been enacted or substantively enacted by the reporting date.

	Provisions
	Provisions (ie liabilities of uncertain timing or amount) are recognised when there is an obligation at the reporting date as a result of a past event, it is probable that economic benefit will be transferred to settle the obligation and the amount of the obligation can be estimated reliably.

	Foreign currency translation
	Foreign currency transactions are translated into the functional currency using the spot exchange rates at the dates of the transactions. At each period end foreign currency monetary items are translated using the closing rate. Nonmonetary items measured at historical cost are translated using the exchange rate at the date of the transaction and non-monetary items measured at fair value are measured using the exchange rate when fair value was determined. Foreign exchange gains and losses resulting from the settlement of transactions and from the translation at period-end exchange rates of monetary assets and liabilities denominated in foreign currencies are recognised in the statement of comprehensive income except when deferred in other comprehensive income as qualifying cash flow hedges. Foreign exchange gains and losses that relate to borrowings and cash and cash equivalents are presented in the statement of comprehensive income within 'finance income or costs'. All other foreign exchange gains and losses are presented in the statement of comprehensive income within 'other operating income'.

	Pensions
	The company operates a defined contribution plan for its employees. A defined contribution plan is a pension plan under which the company pays fixed contributions into a separate entity. Once the contributions have been paid the company has no further payment obligations. The contributions are recognised as an expense in the statement of comprehensive income when they fall due. Amounts not paid are shown in accruals as a liability in the statement of financial position. The assets of the plan are held separately from the company in independently administered funds.

	Shares in fine art
	Where the company acts as the principal in a transaction but only acquires a part share in fine art, the company's share of the sale and profit is recognised in the statement of comprehensive income with the gross amounts of the respective debtors and creditors being included in the statement of financial position. Where the company acts in a joint venture, but is not the principal, only the company's share of the transaction is included in the financial statements.


2	Employees			2025		2024
Number					Number

	Average number of persons employed by the company			8		9

3	Tangible fixed assets
		Computer equipment		Fixtures & fittings		Total
£			£		£
	Cost
	At 1 April 2024	9,706		143,599		153,305
	Additions	883		-		883
	At 31 March 2025	10,589		143,599		154,188

	Depreciation
	At 1 April 2024	9,127		139,615		148,742
	Charge for the year	853		1,255		2,108
	At 31 March 2025	9,980		140,870		150,850

	Net book value
	At 31 March 2025	609		2,729		3,338
	At 31 March 2024	579		3,984		4,563


4	Debtors			2025		2024
£					£

	Trade debtors			94,943		96,227
	Prepayments and accrued income			42,820		62,007
	Tax recoverable			6,016		-
	Other debtors			4,002		8,116
				147,781		166,350


5	Creditors: amounts falling due within one year			2025		2024
£					£

	Bank loans and overdrafts			968,672		-
	Trade creditors			192,332		1,656,006
	Accruals			17,675		14,240
	Taxation and social security costs			-		66,181
	Other creditors			1,650,000		1,700,000
				2,828,679		3,436,427


6	Related party transactions

	At the year end, amounts due to the director was £1,650,000 (2024 - £1,700,000). The maximum amount outstanding was £1,650,000 (2024 - £1,700,000) in the year. The directors regard themselves as key management of the company.


7	Controlling party

	The company is controlled by Mr and Mrs Van Haeften by virtue of their 100% shareholding in the company.


8	Other information

	Johnny Van Haeften Limited is a private company limited by shares and incorporated in England. Its registered office is:
	Beaufort Cottage
	Ham Street
	Richmond
	TW10 7HL