Company registration number 05491048 (England and Wales)
Peter Wilson Fine Art Auctioneers Limited
Unaudited Financial Statements
For the year ended 31 August 2025
Peter Wilson Fine Art Auctioneers Limited
Contents
Page
Statement of financial position
1 - 2
Notes to the financial statements
3 - 8
Peter Wilson Fine Art Auctioneers Limited
Statement of financial position
As at 31 August 2025
- 1 -
2025
2024
Notes
£
£
£
£
Fixed assets
Tangible assets
4
16,219
17,510
Current assets
Debtors
5
436,873
365,751
Cash at bank and in hand
171,883
332,760
608,756
698,511
Creditors: amounts falling due within one year
6
(192,114)
(224,131)
Net current assets
416,642
474,380
Total assets less current liabilities
432,861
491,890
Creditors: amounts falling due after more than one year
7
-
0
(60,824)
Provisions for liabilities
(1,100)
(1,300)
Net assets
431,761
429,766
Capital and reserves
Called up share capital
1
1
Profit and loss reserves
431,760
429,765
Total equity
431,761
429,766
Peter Wilson Fine Art Auctioneers Limited
Statement of financial position (continued)
As at 31 August 2025
- 2 -

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

T he members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476.

The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.

These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

The directors of the company have elected not to include a copy of the income statement within the financial statements.true

The financial statements were approved by the board of directors and authorised for issue on 5 January 2026 and are signed on its behalf by:
Mr S Sparrow
Director
Company registration number 05491048 (England and Wales)
Peter Wilson Fine Art Auctioneers Limited
Notes to the financial statements
For the year ended 31 August 2025
- 3 -
1
Accounting policies
Company information

Peter Wilson Fine Art Auctioneers Limited is a private company limited by shares incorporated in England and Wales. The registered office is The Glades, Festival Way, Festival Park, Stoke-on-Trent, Staffordshire, ST1 5SQ.

1.1
Basis of preparation

These financial statements have been prepared in accordance with FRS 102 “The Financial Reporting Standard applicable in the UK and Republic of Ireland” (“FRS 102”) and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime. The disclosure requirements of section 1A of FRS 102 have been applied other than where additional disclosure is required to show a true and fair view.

The financial statements are prepared in sterling, which is the functional currency of the company. Monetary a mounts in these financial statements are rounded to the nearest £.

The financial statements have been prepared under the historical cost convention. The principal accounting policies adopted are set out below.

1.2
Revenue

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.

Revenue from contracts for the provision of professional services is recognised by reference to the stage of completion when the stage of completion, costs incurred and costs to complete can be estimated reliably. The stage of completion is calculated by comparing costs incurred, mainly in relation to contractual hourly staff rates and materials, as a proportion of total costs. Where the outcome cannot be estimated reliably, revenue is recognised only to the extent of the expenses recognised that are recover able.

1.3
Intangible fixed assets - goodwill

Goodwill represents the excess of the cost of acquisition of unincorporated businesses over the fair value of net assets acquired. It is initially recognised as an asset at cost and is subsequently measured at cost less accumulated amortisation and accumulated impairment losses. Goodwill is considered to have a finite useful life and has been amortised on a systematic basis over its expected life, which was 10 years.

1.4
Tangible fixed assets

Tangible fixed assets are initially measured at cost and subsequently measured at cost or valuation, net of depreciation and any impairment losses.

Depreciation is recognised so as to write off the cost or valuation of assets less their residual values over their useful lives on the following bases:

Leasehold land and buildings
10% on cost
Fixtures and fittings
20% on cost
Computers
20% on cost
Motor vehicles
15% on cost

The gain or loss arising on the disposal of an asset is determined as the difference between the sale proceeds and the carrying value of the asset, and is credited or charged to profit or loss.

Peter Wilson Fine Art Auctioneers Limited
Notes to the financial statements (continued)
For the year ended 31 August 2025
1
Accounting policies
(Continued)
- 4 -
1.5
Impairment of fixed assets

At each reporting period end date, the company reviews the carrying amounts of its tangible and intangible assets to determine whether there is any indication that those assets have suffered an impairment loss. If any such indication exists, the recoverable amount of the asset is estimated in order to determine the extent of the impairment loss (if any). Where it is not possible to estimate the recoverable amount of an individual asset, the company estimates the recoverable amount of the cash-generating unit to which the asset belongs.

Recoverable amount is the higher of fair value less costs to sell and value in use. In assessing value in use, the estimated future cash flows are discounted to their present value using a pre-tax discount rate that reflects current market assessments of the time value of money and the risks specific to the asset for which the estimates of future cash flows have not been adjusted.

If the recoverable amount of an asset is estimated to be less than its carrying amount, the carrying amount of the asset is reduced to its recoverable amount. An impairment loss is recognised immediately in profit or loss, unless the relevant asset is carried at a revalued amount, in which case the impairment loss is treated as a revaluation decrease.

1.6
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.

1.7
Financial instruments

The company has elected to apply the provisions of Section 11 ‘Basic Financial Instruments’ and Section 12 ‘Other Financial Instruments Issues’ of FRS 102 to all of its financial instruments.

Financial instruments are recognised in the company's statement of financial position when the company becomes party to the contractual provisions of the instrument.

Financial assets and liabilities are offset, with the net amounts presented in the financial statements, when there is a legally 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.

Basic financial assets

Basic financial assets, which include debtors, loans to fellow group companies and cash and bank balances, are initially measured at transaction price including transaction costs and are subsequently carried at amortised cost using the effective interest method 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. Financial assets classified as receivable within one year are not amortised.

Classification of financial liabilities

Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instrument is any contract that evidences a residual interest in the assets of the company after deducting all of its liabilities.

Peter Wilson Fine Art Auctioneers Limited
Notes to the financial statements (continued)
For the year ended 31 August 2025
1
Accounting policies
(Continued)
- 5 -
Basic financial liabilities

Basic financial liabilities, including creditors and bank loans, 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 paymen ts discounted at a market rate of interest. Financial liabilities classified as payable within one year are not amortised.

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. A m ounts payable 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.

1.8
Equity instruments

Equity instruments issued by the company are recorded at the proceeds received, net of transaction costs. Dividends payable on equity instruments are recognised as liabilities once they are no longer at the discretion of the company.

1.9
Taxation

The tax expense represents the sum of the tax currently payable and deferred tax.

Current tax

The tax currently payable is based on taxable profit for the year. Taxable profit differs from net profit as reported in the income statement because it excludes items of income or expense that are taxable or deductible in other years and it further excludes items that are never taxable or deductible. The company’s liability for current tax is calculated using tax rates that have been enacted or substantively enacted by the reporting end date.

Deferred tax

Deferred tax liabilities are generally recognised for all timing differences and deferred tax assets are recognised to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits. Such assets and liabilities are not recognised if the timing difference arises from goodwill or from the initial recognition of other assets and liabilities in a transaction that affects neither the tax profit nor the accounting profit.

The carrying amount of deferred tax assets is reviewed at each reporting end date and reduced to the extent that it is no longer probable that sufficient taxable profits will be available to allow all or part of the asset to be recovered. Deferred tax is calculated at the tax rates that are expected to apply in the period when the liability is settled or the asset is realised. Deferred tax is charged or credited in the income statement, except when it relates to items charged or credited directly to equity, in which case the deferred tax is also dealt with in equity. Deferred tax assets and liabilities are offset when the company has a legally enforceable right to offset current tax assets and liabilities and the deferred tax assets and liabilities relate to taxes levied by the same tax authority.

1.10
Retirement benefits

Payments to defined contribution retirement benefit schemes are charged as an expense as they fall due.

1.11
Leases
As lessee

Rentals payable under operating leases, including any lease incentives received, are charged to profit or loss on a straight line basis over the term of the relevant lease except where another more systematic basis is more representative of the time pattern in which economic benefits from the lease s asset are consumed.

Peter Wilson Fine Art Auctioneers Limited
Notes to the financial statements (continued)
For the year ended 31 August 2025
1
Accounting policies
(Continued)
- 6 -
As lessor

When the company acts as a lessor, a lease is classified as a finance lease whenever it transfers substantially all the risks and rewards of ownership of the underlying asset to the lessee, either at the end of the lease term or for the major part of the economic life of the asset. All other leases are classified as operating leases. If an arrangement contains both lease and non-lease components, the company allocates the consideration in the contract to the two elements.

Rental income from operating leases is recognised on a straight line basis over the term of the relevant lease. Initial direct costs incurred in negotiating and arranging an operating lease are added to the carrying amount of the leased asset and recognised on a straight line basis over the lease term.

2
Employees

The average monthly number of persons (including directors) employed by the company during the year was:

2025
2024
Number
Number
Total
11
10
3
Intangible fixed assets
Goodwill
£
Cost
At 1 September 2024 and 31 August 2025
200,000
Amortisation and impairment
At 1 September 2024 and 31 August 2025
200,000
Carrying amount
At 31 August 2025
-
0
At 31 August 2024
-
0
4
Tangible fixed assets
Peter Wilson Fine Art Auctioneers Limited
Notes to the financial statements (continued)
For the year ended 31 August 2025
4
Tangible fixed assets
(Continued)
- 7 -
Leasehold land and buildings
Fixtures and fittings
Computers
Motor vehicles
Total
£
£
£
£
£
Cost
At 1 September 2024
93,916
7,142
13,050
13,299
127,407
Additions
-
0
2,427
1,119
-
0
3,546
At 31 August 2025
93,916
9,569
14,169
13,299
130,953
Depreciation and impairment
At 1 September 2024
93,916
5,107
9,964
910
109,897
Depreciation charged in the year
-
0
1,527
1,315
1,995
4,837
At 31 August 2025
93,916
6,634
11,279
2,905
114,734
Carrying amount
At 31 August 2025
-
0
2,935
2,890
10,394
16,219
At 31 August 2024
-
0
2,035
3,086
12,389
17,510
5
Debtors
2025
2024
Amounts falling due within one year:
£
£
Trade debtors
58,848
8,237
Amounts owed by group undertakings
375,758
355,758
Other debtors
2,267
1,756
436,873
365,751
6
Creditors: amounts falling due within one year
2025
2024
£
£
Bank loans
21,151
31,210
Trade creditors
69,887
84,695
Taxation and social security
87,178
97,906
Other creditors
13,898
10,320
192,114
224,131
Peter Wilson Fine Art Auctioneers Limited
Notes to the financial statements (continued)
For the year ended 31 August 2025
- 8 -
7
Creditors: amounts falling due after more than one year
2025
2024
£
£
Bank loans and overdrafts
-
0
60,824
8
Security

The bank loans are secured by a fixed and floating charge over the assets of the company in favour of NW Debt LP Acting by FW Capital Limited.

9
Operating lease commitments
As lessee

At the reporting end date the company had outstanding commitments for future minimum lease payments under non-cancellable operating leases, as follows:

2025
2024
£
£
Total commitments
163,778
228,793
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