Registration number: 04085851

Art World Limited

Contents

Company Information	1
Balance Sheet	2 to 3
Notes to the Financial Statements	4 to 7

Art World Limited

Company Information

Directors

Mrs E M Ixer Mr C R Ixer

Registered office

79-81 Boslowick Road Falmouth Cornwall TR11 4QD

Accountants

Julia Evans Accountants Ltd 79-81 Boslowick Road Falmouth Road Falmouth Cornwall TR11 4QD

Art World Limited

(Registration number: 04085851)
Balance Sheet as at 31 October 2025

	Note	2025 £	2024 £
Current assets
Stocks		20,930	32,559
Debtors	5	569	1,825
Cash at bank and in hand		2,452	883
		23,951	35,267
Creditors: Amounts falling due within one year	6	(81,863)	(73,675)
Total assets less current liabilities		(57,912)	(38,408)
Creditors: Amounts falling due after more than one year	6	(16,667)	(21,111)
Net liabilities		(74,579)	(59,519)
Capital and reserves
Called up share capital		100	100
Retained earnings		(74,679)	(59,619)
Shareholders' deficit		(74,579)	(59,519)

For the financial year ending 31 October 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 accounts for the year in question in accordance with section 476; and
•	The directors acknowledge their 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 directors have not delivered to the registrar a copy of the Profit and Loss Account.

Art World Limited

(Registration number: 04085851)
Balance Sheet as at 31 October 2025

Approved and authorised by the Board on 24 July 2026 and signed on its behalf by:
 

......................................... Mr C R Ixer Director

Art World Limited

Notes to the Financial Statements for the Year Ended 31 October 2025

1	General information

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

The address of its registered office is:
79-81 Boslowick Road
Falmouth
Cornwall
TR11 4QD

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.

Revenue recognition

Turnover comprises the fair value of the consideration received or receivable for the sale of goods and 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.

Tax

Taxation represents the sum of tax currently payable and deferred tax.

The company's liability for current tax is calculated using tax rates that have been enacted or substantively enacted by the end of the reporting period.

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 tax is recognised on all timing differences between the carrying amounts of assets and liabilities in the financial statements and the corresponding tax bases used in the computation of taxable profit. The carrying amount of deferred tax assets is reviewed at the end of each reporting period 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 assets and liabilities are measured at the tax rates that are expected to apply in the period in which the liability is settled or at the asset realised, based on tax rates and tax laws that have been enacted or substantively enacted by the end of the reporting period.

Art World Limited

Notes to the Financial Statements for the Year Ended 31 October 2025

Tangible assets

Tangible assets are stated in the balance sheet at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.

The cost of tangible assets includes directly attributable incremental costs incurred in their acquisition and installation.

Depreciation

Depreciation is charged so as to write off the cost of assets, other than land and properties under construction over their estimated useful lives, as follows:

Asset class	Depreciation method and rate
Plant and machinery	25% reducing balance
Computer equipment	25% on cost
Short term leasehold	Over length of lease

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.

3	Staff numbers

The average number of persons employed by the company (including directors) during the year, was 0 (2024 - 0).

Art World Limited

Notes to the Financial Statements for the Year Ended 31 October 2025

4	Tangible assets

	Furniture, fittings and equipment  £	Total £
Cost or valuation
At 1 November 2024	1,843	1,843
At 31 October 2025	1,843	1,843
Depreciation
At 1 November 2024	1,843	1,843
At 31 October 2025	1,843	1,843
Carrying amount
At 31 October 2025	-	-

Included within the net book value of land and buildings above is £Nil (2024 - £Nil) in respect of freehold land and buildings.
 

5

Debtors

Current	2025 £	2024 £
Trade debtors	-	149
Prepayments	384	1,339
Other debtors	185	337
	569	1,825

Art World Limited

Notes to the Financial Statements for the Year Ended 31 October 2025

6

Creditors

Creditors: amounts falling due within one year

	Note	2025 £	2024 £
Due within one year
Loans and borrowings	7	4,444	4,444
Trade creditors		156	654
Accruals and deferred income		1,190	1,034
Other creditors		76,073	67,543
		81,863	73,675

Creditors: amounts falling due after more than one year

	Note	2025 £	2024 £
Due after one year
Loans and borrowings	7	16,667	21,111

7	Loans and borrowings

Non-current loans and borrowings

	2025 £	2024 £
Bank borrowings	16,667	21,111

Current loans and borrowings

	2025 £	2024 £
Bank borrowings	4,444	4,444