REGISTERED NUMBER: 11937798 (England and Wales)

Unaudited Financial Statements

for the Year Ended 31 March 2026

for

Blank Canvas Antiques Limited

Page

Company Information

1

Statement of Financial Position

2

Notes to the Financial Statements

4

Director:

A J Gibbs

Registered office:

23 Station Street

Ross-on-Wye

Herefordshire

HR9 7AG

Registered number:

11937798 (England and Wales)

Accountants:

Crowthers Chartered Accountants

19 High Street

Pershore

Worcestershire

WR10 1AA

FIXED ASSETS

Property, plant and equipment

4

674,804

675,753

CURRENT ASSETS

Inventories

260,328

305,024

Debtors

5

8,034

14,930

Cash at bank

68,224

98,309

336,586

418,263

CREDITORS

Amounts falling due within one year

6

192,293

396,181

NET CURRENT ASSETS

144,293

22,082

TOTAL ASSETS LESS CURRENT LIABILITIES

819,097

697,835

CREDITORS

Amounts falling due after more than one year

7

(108,000

)

(1,667

)

PROVISIONS FOR LIABILITIES

(1,906

)

(3,343

)

NET ASSETS

709,191

692,825

CAPITAL AND RESERVES

Called up share capital

100

100

Retained earnings

709,091

692,725

709,191

692,825

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 March 2026.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 March 2026 in accordance with Section 476 of the Companies Act 2006.

The director acknowledges his 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 Statement of Income and Retained Earnings has not been delivered.

The financial statements were approved by the director and authorised for issue on 28 August 2026 and were signed by:

A J Gibbs - Director

1.	STATUTORY INFORMATION

Blank Canvas Antiques Limited 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 (£).

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.

Significant judgements and estimates

In the application of the company's accounting policies, the director is required to make judgements, estimates and assumptions about the carrying amount of assets and liabilities that are not readily apparent from other sources. The estimates and associated assumptions are based on historical experience and other factors that are considered to be relevant. Therefore actual results may differ from these estimates.

The estimates and underlying assumptions are reviewed on an ongoing basis. Revisions to accounting estimates are recognised in the period in which the estimate is revised if the revision affects only that period, or in the period of the revision and future periods if the revision affects both current and future periods.

Within the company, the area where significant judgements and estimates are made by the director is in the stock valuation. Stock of antiques are valued on a cost price basis but this is subject to ongoing reviews and a provision made where the director is of the opinion that specific items are slow moving and require being written down to net realisable value. At the year-end, the director has no concerns over the recoverability of the company's stock balance as shown on the balance sheet.

Turnover

Revenue is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Tangible fixed assets

Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.

Motor vehicles

-

25% on reducing balance

Computer equipment

-

25% on reducing balance

Stocks

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

Taxation

Taxation for the year comprises current and deferred tax. Tax is recognised in the Statement of Income and Retained Earnings, except to the extent that it relates to items recognised in other comprehensive income or directly in equity.

Current or deferred taxation assets and liabilities are not discounted.

Current tax is recognised at the amount of tax payable using the tax rates and laws that have been enacted or substantively enacted by the statement of financial position date.

Deferred tax

Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the statement of financial position date.

Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from those in which they are recognised in financial statements. Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the year end and that are expected to apply to the reversal of the timing difference.

Unrelieved tax losses and other deferred tax assets are recognised only to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits.

Hire purchase and leasing commitments

Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 1 (2025 - 2 ) .

4.	PROPERTY, PLANT AND EQUIPMENT

Freehold

Motor

Computer

property

vehicles

equipment

Totals

£

£

£

£

Cost

At 1 April 2025

662,380

38,530

4,196

705,106

Additions

2,394

-

-

2,394

At 31 March 2026

664,774

38,530

4,196

707,500

Depreciation

At 1 April 2025

-

26,847

2,506

29,353

Charge for year

-

2,920

423

3,343

At 31 March 2026

-

29,767

2,929

32,696

Net book value

At 31 March 2026

664,774

8,763

1,267

674,804

At 31 March 2025

662,380

11,683

1,690

675,753

5.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2026

2025

£

£

Trade debtors

8,034

14,300

Other debtors

-

630

8,034

14,930

6.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2026

2025

£

£

Bank loans and overdrafts

47,667

10,000

Trade creditors

116

5,866

Tax

9,419

21,497

Social security and other taxes

5,310

479

Directors' current accounts

129,781

355,339

Accrued expenses

-

3,000

192,293

396,181

7.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

2026

2025

£

£

Bank loans - 1-2 years

-

1,667

Bank loans - 2-5 years

108,000

-

108,000

1,667

8.	DIRECTOR'S ADVANCES, CREDITS AND GUARANTEES

Included in creditors is £129,781 (2025: £355,339) owed to the director. No interest has been charged on this loan. The loan is repayable on demand and is unsecured.