Company No: 01855176 (England and Wales)

Contents

• Balance Sheet
• Notes to the Financial Statements

	Note	2025		2024
		£		£
Current assets
Debtors	4	5,744		20,314
Cash at bank and in hand		18,543		31,029
		24,287		51,343
Creditors: amounts falling due within one year	5	( 23,301)		( 50,542)
Net current assets		986		801
Total assets less current liabilities		986		801
Net assets		986		801
Capital and reserves
Called-up share capital	6	100		100
Profit and loss account		886		701
Total shareholders' funds		986		801

For the financial year ending 30 November 2025 the Company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Directors' responsibilities:

• The members have not required the Company to obtain an audit of its financial statements for the financial year 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; 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 Fine Art Travel Limited (registered number: 01855176) were approved and authorised for issue by the Board of Directors on 25 May 2026. They were signed on its behalf by:

J C Rae Director

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

Fine Art Travel 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 Hitchcock House Hilltop Park, Devizes Road, Salisbury, SP3 4UF, United Kingdom. The principal place of business is 17 Clifford Street, London, W1S 3RQ.

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 £.

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.

Turnover

Turnover is the invoice value of fine art courses, lectures and tours that commenced prior to the balance sheet date.

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 tax rates and laws substantively enacted at the balance sheet date. Deferred tax assets and liabilities are not discounted.

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 basis over its expected useful life, as follows:

Fixtures and fittings	4 years straight line
Computer equipment	3 years straight line

Residual value represents the estimated amount which would currently be obtained from disposal of an asset, after deducting estimated costs of disposal, if the asset were already of the age and in the condition expected at the end of its useful life.

Financial instruments

Financial assets and financial liabilities are recognised when the Company becomes a party to the contractual provisions of the instrument.

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.

Financial assets and liabilities are only offset in the Balance Sheet when, and only when there exists a legally enforceable right to set off the recognised amounts and the Company intends either to settle on a net basis, or to realise the asset and settle the liability simultaneously.

Basic financial assets
Basic financial assets receivable within one year, such as trade debtors and bank balances, are measured at transaction price less any impairment.

Basic financial assets receivable within more than one year are measured at amortised cost less any impairment.

Basic financial liabilities
Basic financial liabilities that have no stated interest rate and are payable within one year, such as trade creditors, are measured at transaction price.

Other basic financial liabilities are measured at amortised cost.

2. Employees

	2025		2024
	Number		Number
Monthly average number of persons employed by the Company during the year, including directors	1		1

3. Tangible assets

	Fixtures and fittings		Computer equipment		Total
	£		£		£
Cost
At 01 December 2024	6,442		15,625		22,067
At 30 November 2025	6,442		15,625		22,067
Accumulated depreciation
At 01 December 2024	6,442		15,625		22,067
At 30 November 2025	6,442		15,625		22,067
Net book value
At 30 November 2025	0		0		0
At 30 November 2024	0		0		0

4. Debtors

	2025		2024
	£		£
Corporation tax	0		6,244
Other debtors	5,744		14,070
	5,744		20,314

5. Creditors: amounts falling due within one year

	2025		2024
	£		£
Trade creditors	204		1,140
Taxation and social security	97		636
Other creditors	23,000		48,766
	23,301		50,542

6. Called-up share capital

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

7. Loans to directors

	2025		2024
	£		£
Opening balance	13,272		5,056
Advances to director	15,765		9,553
Repayments by director	(24,112)		(1,337)
	4,925		13,272