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Registered number: |
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Balance Sheet | |||||||
as at |
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Notes | 2021 | 2020 | |||||
£ | £ | ||||||
Fixed assets | |||||||
Tangible assets | 3 |
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Investments | 4 |
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Current assets | |||||||
Stocks |
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Debtors | 5 |
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Cash at bank and in hand |
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Creditors: amounts falling due within one year | 6 | ( |
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Net current assets |
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Total assets less current liabilities |
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Creditors: amounts falling due after more than one year | 7 | ( |
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Net assets |
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Capital and reserves | |||||||
Called up share capital |
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Share premium |
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Revaluation reserve | 8 |
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Profit and loss account |
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Shareholders' funds |
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J Phipson | |||||||
Director | |||||||
Approved by the board on |
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Notes to the Accounts | ||||||||
for the year ended |
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1 | Accounting policies | |||||||
Basis of preparation | ||||||||
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Going concern | ||||||||
The financial statements have been prepared on the going concern basis which, inter alia, is based on the directors’ reasonable expectation that the company has adequate resources to continue to operate as a going concern for at least twelve months from the date of their approval. In making the assessment of the appropriateness of this basis, the directors have considered the trading of the company since the year end and the facilities that are either committed to the company for a period of at least twelve months from the date of approval of the financial statements or which they consider will probably be available to the company during such period. After careful consideration, the directors consider that they have reasonable grounds to believe that the company can be regarded as a going concern and, for this reason, they continue to adopt the going concern basis in preparing the company’s financial statements. |
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Turnover | ||||||||
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Shares in fine art | ||||||||
Where the company acts as the principal in a transcation but only acquires a part share in fine art, the company's share of the sale and profit is recognised in the statement of comprehensive income with the gross amounts of the respective debtors and creditors being included in the statement of financial position. Where the company acts in a joint venture, but is not the principal, only the company's share of the transaction is included in the financial statements. | ||||||||
Tangible fixed assets | ||||||||
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Plant and machinery | over 5 years | |||||||
Fixed asset investments | ||||||||
The directors adopted valuations undertaken for the library and archive in April 2004 of £400,000 as representing quasi-cost on the transition to FRS102. |
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Stocks | ||||||||
At each reporting date, stocks are assessed for impairment. If stock is 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. |
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Debtors | ||||||||
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Creditors | ||||||||
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Taxation | ||||||||
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Provisions | ||||||||
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Foreign currency translation | ||||||||
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Pensions | ||||||||
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2 | Employees | 2021 | 2020 | |||||
Number | Number | |||||||
Average number of persons employed by the company |
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3 | Tangible fixed assets | |||||||
Plant and machinery etc | ||||||||
£ | ||||||||
Cost | ||||||||
At 1 July 2020 |
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Additions |
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At 30 June 2021 |
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Depreciation | ||||||||
At 1 July 2020 |
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Charge for the year |
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At 30 June 2021 |
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Net book value | ||||||||
At 30 June 2021 |
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At 30 June 2020 |
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4 | Investments | |||||||
Other | ||||||||
investments | ||||||||
£ | ||||||||
Cost | ||||||||
At 1 July 2020 |
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At 30 June 2021 |
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5 | Debtors | 2021 | 2020 | |||||
£ | £ | |||||||
Trade debtors |
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Amounts owed by group undertakings and undertakings in which the company has a participating interest |
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Prepayments and accrued income | 94,307 | 110,040 | ||||||
Deposits on pictures | 373,316 | - | ||||||
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6 | Creditors: amounts falling due within one year | 2021 | 2020 | |||||
£ | £ | |||||||
Trade creditors |
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Amounts owed to group undertakings and undertakings in which the company has a participating interest |
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Taxation and social security costs |
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Other creditors |
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7 | Creditors: amounts falling due after one year | 2021 | 2020 | |||||
£ | £ | |||||||
Participator loan |
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8 | Revaluation reserve | 2021 | 2020 | |||||
£ | £ | |||||||
At 1 July 2020 |
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At 30 June 2021 |
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9 | Pension commitments | |||||||
The Company operates a defined contributions pension scheme. The assets of the scheme are held separately from those of the Company in an independently administered fund. The pension charge represents contributions payable by the Company to the fund and amounted to £3,417 (2020: £4,601). Contributions totalling £Nil (2020: £1,233) were payable to the fund at the reporting date and are included in creditors. | ||||||||
10 | Related party transactions | |||||||
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11 | Other information | |||||||
Thos.Agnew & Sons, Limited is a private company limited by shares and incorporated in England. Its registered office is: | ||||||||
63 Bermondsey Street | ||||||||
London | ||||||||
SE1 3XF |