Hockley Smith Fine Art Consulting Ltd - Accounts to registrar (filleted)

REGISTERED NUMBER: 06749925 (England and Wales)

Unaudited Financial Statements

for the Year Ended 30 November 2025

for

Hockley Smith Fine Art Consulting Ltd

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

4

DIRECTORS:

M R Hockley Smith

R A Hockley Smith

REGISTERED OFFICE:

Ward Mackenzie Ltd

Thatcher House

12 Mount Ephraim

Tunbridge Wells

Kent

TN4 8AS

REGISTERED NUMBER:

06749925 (England and Wales)

ACCOUNTANTS:

RAA Ward Mackenzie Ltd

Chartered Accountants

Thatcher House

12 Mount Ephraim

Tunbridge Wells

Kent

TN4 8AS

Fixed assets

Tangible assets

4

2,512

3,829

Current assets

Stocks

2,500

Debtors

5

889

12,537

Cash at bank

111,327

92,007

114,716

107,044

Creditors

Amounts falling due within one year

6

(34,602

)

(41,126

)

Net current assets

80,114

65,918

Total assets less current liabilities

82,626

69,747

Creditors

Amounts falling due after more than one year

7

(833

)

(5,833

)

Provisions for liabilities

(477

)

-

Net assets

81,316

63,914

Capital and reserves

Called up share capital

3

Retained earnings

8

81,313

63,911

Shareholders' funds

81,316

63,914

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30 November 2025.

The members have not required the company to obtain an audit of its financial statements for the year ended 30 November 2025 in accordance with Section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for:

(a)	ensuring that the company keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006 and

(b)

preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of each financial year and of its profit or loss for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the company.

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

In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 23 March 2026 and were signed on its behalf by:

M R Hockley Smith - Director

1.	STATUTORY INFORMATION

Hockley Smith Fine Art Consulting Ltd is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.

The presentation currency of the financial statements is the Pound Sterling (£).

The company's principal activity during the year continued to be that of providing advice to clients on art matters.

2.	ACCOUNTING POLICIES

BASIS OF PREPARING THE FINANCIAL STATEMENTS

These financial statements have been prepared in accordance with Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" including the provisions of Section 1A "Small Entities" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.

TURNOVER

Turnover represents net invoiced of services, excluding value added tax

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:

Fixtures, fittings & equipment 20% Reducing balance

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.

STOCKS

Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.

FINANCIAL INSTRUMENTS

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

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 profit and loss account 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 is recognised in respect of all material timing differences that have originated but not reversed at the balance sheet date.

FOREIGN CURRENCIES

Assets and liabilities in foreign currencies are translated into sterling at the rates of exchange ruling at the

balance sheet date. Transactions in foreign currencies are translated into sterling at the rate of exchange ruling at the date of transaction. Exchange differences are taken into account in arriving at the operating result.

PROVISIONS FOR LIABILITIES

Provisions are made where an event has taken place that gives the Company a legal or constructive obligation that probably requires settlement by a transfer of economic benefit, and a reliable estimate can be made of the amount of the obligation.

Provisions are charged as an expense to the Statement of income in the year that the Company becomes aware of the obligation, and are measured at the best estimate at the Balance sheet date of the expenditure required to settle the obligation, taking into account relevant risks and uncertainties.

When payments are eventually made, they are charged to the provision carried in the Balance sheet.

GOING CONCERN

At the time of approving the financial statements, the director has a reasonable expectation that the company has adequate resources to continue in operational existence for the foreseeable future. Thus the director continues to adopt the going concern basis of accounting in preparing the financial statements.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 2 (2024 - 2 ) .

4.	TANGIBLE FIXED ASSETS

Plant and

Computer

machinery

equipment

Totals

£

COST

At 1 December 2024

7,529

2,623

10,152

Additions

-

1,382

Disposals

(502

)

(2,206

)

(2,708

)

At 30 November 2025

7,027

1,799

8,826

DEPRECIATION

At 1 December 2024

5,676

647

6,323

Charge for year

371

591

962

Eliminated on disposal

(334

)

(637

)

(971

)

At 30 November 2025

5,713

601

6,314

NET BOOK VALUE

At 30 November 2025

1,314

1,198

2,512

At 30 November 2024

1,853

1,976

3,829

5.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2025

2024

£

Trade debtors

-

12,019

Prepayments and accrued income

889

518

889

12,537

The directors consider the carrying value of trade and other receivables approximate to their fair values.

6.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2025

2024

£

Bank loans and overdrafts

5,000

Trade creditors

15,719

10,201

Corporation tax

7,289

19,471

VAT

4,023

4,978

Directors' loan accounts

1,098

127

Accrued expenses

1,473

1,349

34,602

41,126

The directors consider the carrying amounts of current liabilities approximate to their fair values.

7.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR

2025

2024

£

Bank loans - 1-2 years

833

5,833

8.

RESERVES

Retained

earnings

£

At 1 December 2024

63,911

Profit for the year

18,402

Dividends

(1,000

)

At 30 November 2025

81,313

The Profit and loss account comprises all current and prior period retained profit and losses after deducting any distributions made to the company's shareholders. This is a distributable reserve.

9.	DIRECTORS' ADVANCES, CREDITS AND GUARANTEES

The following advances and credits to directors subsisted during the years ended 30 November 2025 and 30 November 2024:

2025

2024

£

M R Hockley Smith and R A Hockley Smith

Balance outstanding at start of year

(127

)

(106

)

Amounts advanced

6,493

33,908

Amounts repaid

(7,464

)

(33,929

)

Amounts written off

-

Amounts waived

-

Balance outstanding at end of year

(1,098

)

(127

)

10.	RELATED PARTY DISCLOSURES

During the year, total dividends of £1,000 (2024- £22,100) were paid to the directors.

At the balance sheet date, included in creditors are amounts due to the directors of £1,098 (2024 - £127). This loan is interest free and repayable on demand.

11.	ULTIMATE CONTROLLING PARTY

The company is controlled by the directors, M R Hockley Smith and Mrs. R A Hockley Smith.