Exeter Arts Trading Services Limited - Accounts to registrar (filleted)

REGISTERED NUMBER: 06280657 (England and Wales)

FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2025

FOR

EXETER ARTS TRADING SERVICES LIMITED

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

3

to

6

DIRECTORS:

P J A Cunningham

S E Connett

S M Smith

Y Williams

SECRETARY:

P J A Cunningham

REGISTERED OFFICE:

Bradninch Place

Gandy Street

Exeter

Devon

EX4 3LS

REGISTERED NUMBER:

06280657 (England and Wales)

AUDITORS:

Gravita Audit Western Limited

Keble House

Southernhay Gardens

Exeter

Devon

EX1 1NT

FIXED ASSETS

Intangible assets

4

-

Tangible assets

5

126,859

136,460

126,859

136,460

CURRENT ASSETS

Stocks

27,943

20,440

Debtors

6

37,342

15,900

Cash at bank and in hand

74,395

25,933

139,680

62,273

CREDITORS

Amounts falling due within one year

7

211,883

144,077

NET CURRENT LIABILITIES

(72,203

)

(81,804

)

TOTAL ASSETS LESS CURRENT
LIABILITIES

54,656

CAPITAL AND RESERVES

Called up share capital

1,000

Retained earnings

53,656

SHAREHOLDERS' FUNDS

54,656

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 10 December 2025 and were signed on its behalf by:

P J A Cunningham - Director

1.	STATUTORY INFORMATION

Exeter Arts Trading Services 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.

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.

Related party exemption

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.

Turnover

Turnover represents the invoiced value of goods and services supplied by the company, net of value added tax and trade discounts.

Intangible assets

Intangible assets are initially measured at cost. After initial recognition, intangible assets are measured at cost less accumulated amortisation and any accumulated impairment losses.

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:

Equipment 15%

Equipment held under finance agreement 33%

Leasehold Improvements 10%

Office equipment 15%

Stocks

Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.

Financial instruments

Financial instruments are classified and accounted for, according to the substance of the contractual arrangement, as financial assets, financial liabilities or equity instruments. An equity instrument is any contract that evidences a residual interest in the assets of the company after deducting all of its liabilities.

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.

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 contributes to the People's Pension Scheme, a defined contributions scheme, on behalf of certain employees. Contributions payable in the year are charged in the profit and loss account.

Going concern

The accounts have been prepared on a going concern basis. During the year the company successfully consolidated its trading outlets, building the businesses up as consumer confidence returned. Post year-end, the company met the further challenges posed by both inflation and the cost of living crisis by implementing various cost savings. As a result, the directors are of the opinion that sufficient finance will be available to enable the company to continue trading for at least twelve months after the date of the approval of these accounts.

Estimates and judgements

Other than depreciation and amortisation, which are already covered above in the accounting policies note, the key estimates and judgements included in the financial statements are accruals and prepayments which are based on information available at the time of approval of the financial statements.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 38 (2024 - 38 ) .

4.	INTANGIBLE FIXED ASSETS

Website

£

COST

At 1 April 2024

and 31 March 2025

12,000

AMORTISATION

At 1 April 2024

and 31 March 2025

12,000

NET BOOK VALUE

At 31 March 2025

-

At 31 March 2024

-

5.	TANGIBLE FIXED ASSETS

Leasehold

improvements

Equipment

Totals

£

COST

At 1 April 2024

123,708

227,520

351,228

Additions

8,432

8,925

17,357

At 31 March 2025

132,140

236,445

368,585

DEPRECIATION

At 1 April 2024

32,706

182,062

214,768

Charge for year

13,214

13,744

26,958

At 31 March 2025

45,920

195,806

241,726

NET BOOK VALUE

At 31 March 2025

86,220

40,639

126,859

At 31 March 2024

91,002

45,458

136,460

6.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.3.25

31.3.24

£

Trade debtors

18,448

8,488

Other debtors

18,894

7,412

37,342

15,900

7.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.3.25

31.3.24

£

Trade creditors

58,209

47,871

Taxation and social security

48,004

43,510

Other creditors

105,670

52,696

211,883

144,077

8.	LEASING AGREEMENTS

The company has committed to pay the lease for two properties on behalf of Exeter Phoenix Limited. This reflects the usage and benefit that the company receives from operating from the premises.

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

The Report of the Auditors was unqualified.

Jade Quaintance BA FCA (Senior Statutory Auditor)

for and on behalf of Gravita Audit Western Limited

10.	ULTIMATE CONTROLLING PARTY

Exeter Phoenix Limited owns 100% of the issued share capital in the company and consequently the company is a full subsidiary of Exeter Phoenix Limited, registered office address Bradninch Place, Gandy Street, Exeter, EX4 3LS.

Consolidated accounts are prepared by the parent and are available to the public.