Company No: 13293342 (England and Wales)

Contents

• Balance Sheet
• Notes to the Financial Statements

	Note	2025		2024
		£		£
Fixed assets
Intangible assets	3	0		5,000
Tangible assets	4	45,491		61,671
		45,491		66,671
Current assets
Stocks	5	1,964,839		1,409,002
Debtors	6	406,333		186,604
Cash at bank and in hand		150,944		188,572
		2,522,116		1,784,178
Creditors: amounts falling due within one year	7	( 2,392,224)		( 1,565,697)
Net current assets		129,892		218,481
Total assets less current liabilities		175,383		285,152
Provision for liabilities	8	( 2,021)		( 2,241)
Net assets		173,362		282,911
Capital and reserves
Called-up share capital	9	100		100
Profit and loss account		173,262		282,811
Total shareholder's funds		173,362		282,911

For the financial year ending 31 March 2025 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Director's responsibilities:

• The member has not required the company to obtain an audit of its financial statements for the financial year in accordance with section 476;
• The director acknowledges their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements; and
• These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime and a copy of the Profit and Loss Account has not been delivered.

The financial statements of The Artist Room Limited (registered number: 13293342) were approved and authorised for issue by the Director. They were signed on its behalf by:

M Astaire Director

05 December 2025

1. Accounting policies

The principal accounting policies are summarised below. They have all been applied consistently throughout the financial year and to the preceding financial year, unless otherwise stated.

General information and basis of accounting

The Artist Room Limited (the Company) is a private company, limited by shares, incorporated in the United Kingdom under the Companies Act 2006 and is registered in England and Wales. The address of the company's registered office is First Floor, 5 Fleet Place, London, EC4M 7RD, United Kingdom.

The financial statements have been prepared under the historical cost convention, modified to include certain items at fair value, and in accordance with Section 1A of Financial Reporting Standard 102 (FRS 102) ‘The Financial Reporting Standard applicable in the UK and Republic of Ireland’ issued by the Financial Reporting Council and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime.

The financial statements are presented in pounds sterling which is the functional currency of the Company and rounded to the nearest £.

Going concern

The director has assessed the Balance Sheet and likely future cash flows at the date of approving these financial statements. The director has a reasonable expectation that the company has adequate resources to continue in operational existence and to meet its financial obligations as they fall due for at least 12 months from the date of signing these financial statements. Accordingly, they continue to adopt the going concern basis in preparing the financial statements.

Foreign currency

Transactions in foreign currencies are recorded at the rate of exchange at the date of the transaction. Monetary assets and liabilities denominated in foreign currencies at the Balance Sheet date are reported at the rates of exchange prevailing at that date.

Exchange differences are recognised in the Profit and Loss Account in the period in which they arise except for exchange differences arising on gains or losses on non-monetary items which are recognised in the Statement of Comprehensive Income.

Turnover

Turnover is recognised at the fair value of the consideration received or receivable for goods and services provided in the normal course of business, and is shown net of VAT and other sales related taxes. The fair value of consideration takes into account trade discounts, settlement discounts and volume rebates.

Turnover is recognised when the significant risks and rewards are considered to have been transferred to the customer.

Employee benefits

Defined benefit schemes
The company operates a defined pension contribution scheme. Contributions are charged to the profit and loss account as they become payable in accordance with the rules of the scheme.

Taxation

Current tax
Current tax is provided at amounts expected to be paid (or recoverable) using the tax rates and laws that have been enacted or substantively enacted at the Balance Sheet date.

Deferred tax
Deferred tax arises as a result of including items of income and expenditure in taxation computations in periods different from those in which they are included in the company's financial statements. Deferred tax is provided in full on timing differences which result in an obligation to pay more or less tax at a future date, at the average tax rates that are expected to apply when the timing differences reverse, based on current tax rates and laws. Deferred tax assets and liabilities are not discounted.

The carrying amount of deferred tax assets are reviewed at each reporting date and a valuation allowance is set up against deferred tax assets so that the net carrying amount equals the highest amount that is more likely than not to be recovered based on current or future taxable profit.

Intangible assets

Intangible assets are stated at cost or valuation, net of amortisation and any provision for impairment. Amortisation is provided on all intangible assets at rates to write off the cost or valuation of each asset over its expected useful life as follows:

Website costs

4 years straight line

Tangible fixed assets

Tangible fixed assets are stated at cost or valuation, net of depreciation and any provision for impairment. Depreciation is provided on all tangible fixed assets, other than investment property and freehold land, at rates calculated to write off the cost or valuation, less estimated residual value, of each asset on a straight-line or reducing balance basis over its expected useful life, as follows:

Leasehold improvements	depreciated over the life of the lease
Fixtures and fittings	4 years straight line
Computer equipment	4 years straight line

Leases

The company as lessee
Assets held under finance leases, hire purchase contracts and other similar arrangements, which confer rights and obligations similar to those attached to owned assets, are capitalised as tangible fixed assets at the fair value of the leased asset (or, if lower, the present value of the minimum lease payments as determined at the inception of the lease) and are depreciated over the shorter of the lease terms and their useful lives. The capital elements of future lease obligations are recorded as liabilities, while the interest elements are charged to the Profit and Loss Account over the period of the leases to produce a constant periodic rate of interest on the remaining balance of the liability.

Rentals under operating leases are charged on a straight-line basis over the lease term, even if the payments are not made on such a basis. Benefits received and receivable as an incentive to sign an operating lease are similarly spread on a straight-line basis over the lease term.

Stocks

Stocks are stated at the lower of cost and estimated selling price less costs to sell, which is equivalent to the net realisable value. Cost includes materials, direct labour and an attributable proportion of manufacturing overheads based on normal levels of activity. Provision is made for obsolete, slow-moving or defective items where appropriate.

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.

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 creditors: amounts falling due within one year.

Financial instruments

The Company only enters into basic financial instruments and transactions that result in the recognition of financial assets and liabilities like trade and other debtors and creditors, loans from banks and other third parties, loans to and from related parties and investments in non-puttable ordinary shares.

Financial assets
Basic financial assets, including trade and other debtors, and amounts due from related companies, are initially recognised at transaction price, unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest.

Such assets are subsequently carried at amortised cost using the effective interest method.

Financial liabilities
Basic financial liabilities, including trade and other creditors and accruals, are initially recognised at transaction price, unless the arrangement constitutes a financing transaction, where the debt instrument is measured at the present value of the future receipts discounted at a market rate of interest.

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Trade creditors are classified as current liabilities if payment is due within one year or less. If not, they are presented as non-current liabilities. Trade creditors are recognised initially at transaction price and subsequently measured at amortised cost using the effective interest method.

2. Employees

	2025		2024
	Number		Number
Monthly average number of persons employed by the company during the year, including the director	1		2

3. Intangible assets

	Website costs		Total
	£		£
Cost
At 01 April 2024	20,000		20,000
At 31 March 2025	20,000		20,000
Accumulated amortisation
At 01 April 2024	15,000		15,000
Charge for the financial year	5,000		5,000
At 31 March 2025	20,000		20,000
Net book value
At 31 March 2025	0		0
At 31 March 2024	5,000		5,000

4. Tangible assets

	Leasehold improve- ments		Fixtures and fittings		Computer equipment		Total
	£		£		£		£
Cost
At 01 April 2024	62,347		13,055		6,130		81,532
Additions	0		0		1,373		1,373
At 31 March 2025	62,347		13,055		7,503		82,905
Accumulated depreciation
At 01 April 2024	12,469		3,305		4,087		19,861
Charge for the financial year	12,470		3,264		1,819		17,553
At 31 March 2025	24,939		6,569		5,906		37,414
Net book value
At 31 March 2025	37,408		6,486		1,597		45,491
At 31 March 2024	49,878		9,750		2,043		61,671

5. Stocks

	2025		2024
	£		£
Finished goods	1,964,839		1,409,002

6. Debtors

	2025		2024
	£		£
Trade debtors	25,087		60,737
Prepayments and accrued income	299,322		39,613
VAT recoverable	3,821		23,754
Corporation tax	3,103		0
Other debtors	75,000		62,500
	406,333		186,604

7. Creditors: amounts falling due within one year

	2025		2024
	£		£
Trade creditors	10,692		4,558
Accruals	13,612		4,175
Corporation tax	0		3,103
Other creditors	2,367,920		1,553,861
	2,392,224		1,565,697

8. Deferred tax

	2025		2024
	£		£
At the beginning of financial year	( 2,241)		0
Credited/(charged) to the Profit and Loss Account	220		( 2,241)
At the end of financial year	( 2,021)		( 2,241)

9. Called-up share capital

	2025		2024
	£		£
Allotted, called-up and fully-paid
100 Ordinary shares of £ 1.00 each	100		100

10. Financial commitments

Other financial commitments

	2025		2024
	£		£
Future minimum lease payments - Not later than one year	128,000		137,000
Future minimum lease payments - Later than one year and not later than five years	31,250		159,250
	159,250		296,250