Secteur Privé Limited

(Registration number: 13855690)
Balance Sheet as at 31 March 2025

For the financial period 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 members have not required the Company to obtain an audit of its accounts for the period in question in accordance with section 476; and
•	The director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime. As permitted by section 444 (5A) of the Companies Act 2006, the director has not delivered to the registrar a copy of the Profit and Loss Account.

Approved and authorised by the director on 23 December 2025
 

......................................... A Al Daouk Director

Secteur Privé Limited

Notes to the Unaudited Financial Statements for the Period from 1 February 2024 to 31 March 2025

1	General information

The Company is a private company limited by share capital, incorporated in England and Wales.

The address of its registered office is:
1st Floor Flat
35 Portland Place
London
W1B 1AE
United Kingdom

Principal activity

The principal activity of the Company is running art events and exhibitions.

These financial statements were authorised for issue by the director on 23 December 2025.

2	Accounting policies

Summary of significant accounting policies and key accounting estimates

The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.

Statement of compliance

These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A smaller entities - 'The Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland' and the Companies Act 2006 (as applicable to companies subject to the small companies' regime).

Basis of preparation

These financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.

Disclosure of long or short period

The financial statements presented are for the long period from 1 February 2024 to 31 March 2025. The company has changed its accounting reference date to 31 March 2025 to align with another company which is under the common control of the shareholder.

Going concern

The company made a loss in the period and has net liabilities. The company is dependent on the support from the shareholder to continue as a going concern.

The financial statements have been prepared on a going concern basis that assumes further funding will be obtained.

Secteur Privé Limited

Notes to the Unaudited Financial Statements for the Period from 1 February 2024 to 31 March 2025

Revenue recognition

Turnover comprises the fair value of the consideration received or receivable for the provision of services in the ordinary course of the Company’s activities. Turnover is shown net of sales/value added tax, returns, rebates and discounts.

The Company recognises revenue when:
The amount of revenue can be reliably measured;
it is probable that future economic benefits will flow to the entity;
and specific criteria have been met for each of the Company's activities.

Foreign currency transactions and balances

Transactions in foreign currencies are translated into sterling at the exchange rate ruling at the date of the transaction. Monetary assets and liabilities denominated in foreign currencies are translated into sterling at the closing rates at the balance sheet date and the exchange differences are included in the statement of financial activities.

Tax

The tax expense for the period comprises current tax. Tax is recognised in profit or loss, except that a change attributable to an item of income or expense recognised as other comprehensive income is also recognised directly in other comprehensive income.

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 taxable income.

Deferred income tax is recognised on temporary differences arising between the tax bases of assets and liabilities and their carrying amounts in the financial statements and on the unused tax losses or tax credits in the company. Deferred income tax is determined using tax rates and laws that have been enacted or substantively enacted by the reporting date.

The carrying amount of deferred tax assets are reviewed at each reporting date and 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 the current or future taxable profit.

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 and creditors and loans to related parties.

Financial assets that are measured at cost and amortised cost are assessed at the end of each reporting period for objective evidence of impairment. If objective evidence of impairment is found, an impairment loss is recognised in profit or loss.

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.
 

Secteur Privé Limited

Notes to the Unaudited Financial Statements for the Period from 1 February 2024 to 31 March 2025

Debtors

Trade debtors are amounts due from customers for services performed in the ordinary course of business.

Trade debtors are recognised initially at the transaction price. They are subsequently measured at amortised cost using the effective interest method, less provision for impairment. A provision for the impairment of trade debtors is established when there is objective evidence that the Company will not be able to collect all amounts due according to the original terms of the receivables.

Stocks

Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell. Cost is determined using the first-in, first-out (FIFO) method.

The cost of finished goods and work in progress comprises direct materials and, where applicable, direct labour costs and those overheads that have been incurred in bringing the inventories to their present location and condition. At each reporting date, stocks are assessed for impairment. If stocks are impaired, the carrying amount is reduced to its selling price less costs to complete and sell; the impairment loss is recognised immediately in profit or loss.

Cash and cash equivalents

Cash and cash equivalents comprise cash on hand and call deposits, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value.

Creditors

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Accounts payable are classified as current liabilities if the Company does not have an unconditional right, at the end of the reporting period, to defer settlement of the creditor for at least twelve months after the reporting date. If there is an unconditional right to defer settlement for at least twelve months after the reporting date, they are presented as non-current liabilities.

Trade creditors are recognised initially at the transaction price and subsequently measured at amortised cost using the effective interest method.

Share capital

Ordinary shares are classified as equity. Equity instruments are measured at the fair value of the cash or other resources received or receivable, net of the direct costs of issuing the equity instruments. If payment is deferred and the time value of money is material, the initial measurement is on a present value basis.

Secteur Privé Limited

Notes to the Unaudited Financial Statements for the Period from 1 February 2024 to 31 March 2025

3	Significant judgements and key sources of estimation uncertainty

Judgements

The preparation of the financial statements requires management to make judgements, estimates and assumptions that affect the amounts reported for assets and liabilities as at the balance sheet date and the amounts reported for revenues and expenses during the year. However, the nature of estimation means that actual outcomes could differ from those estimates. In the Director's opinion there are no significant judgements or key sources of estimation uncertainty.

4	Staff numbers

The average number of persons employed by the Company (including the director) during the period, was 1 (2024 - 1).

5

Stocks

	31 March 2025 £	31 January 2024 £
Other inventories	34,860	-

6

Debtors

Current	31 March 2025 £	31 January 2024 £
Prepayments	3,599	3,599
	3,599	3,599

7

Creditors

	Note	31 March 2025 £	31 January 2024 £
Due within one year
Trade creditors		5,572	4,946
Amounts owed to Group undertakings and undertakings in which the Company has a participating interest	8	151,852	71,862
Accruals and deferred income		4,450	4,662
Other creditors		10,232	11,005
		172,106	92,475

Secteur Privé Limited

Notes to the Unaudited Financial Statements for the Period from 1 February 2024 to 31 March 2025

8	Related party transactions

Summary of transactions with entities with joint control or significant interest

During the year, the company received loans from Institutional Prime Consulting limited, a company under common control totalling £75,500 (2024: £10,248). Institutional Prime Consulting paid rent expenses on behalf of Secteur Privé totalling £4,490 (2024: £Nil). At the balance sheet date the amount owed to companies under common control totalled £151,852 (2024: £71,862).

Summary of transactions with other related parties

During the period, the Director paid expenses on behalf of the company of £Nil (2024: £6,240). Furthermore, the company also paid for expenses on behalf of the Director of £432 (2024: £2,129). At the balance sheet date the company owed the Director £10,232 (2024: £10,664).

9	Share capital

Allotted, called up and fully paid shares

	31 March 2025		31 January 2024
	No.	£	No.	£
Ordinary shares of £1 each	1	1	1	1