|
|||
|
|||
Period from
|
||
1 Sep 14 to
|
Year to
|
|
31 Dec 15
|
31 Aug 14
|
|
Note
|
£
|
£
|
TURNOVER
|
|
|
Cost of sales
|
|
|
---------
|
---------
|
|
GROSS PROFIT
|
|
|
Administrative expenses
|
|
|
|
---------
|
---------
|
||
OPERATING PROFIT/(LOSS)
|
3
|
|
(
|
Interest receivable
|
|
|
|
Interest payable and similar charges
|
(
|
(
|
|
--------
|
--------
|
||
PROFIT/(LOSS) ON ORDINARY ACTIVITIES BEFORE TAXATION
|
|
(
|
|
Tax on profit/(loss) on ordinary activities
|
–
|
–
|
--------
|
--------
|
|
PROFIT/(LOSS) FOR THE FINANCIAL PEROID
|
|
(
|
--------
|
--------
|
|
31 Dec 15
|
31 Aug 14
|
||
Note
|
£
|
£
|
£
|
Tangible assets
|
4
|
–
|
|
|
----
|
----
|
|||
Stocks
|
–
|
|
||
Debtors
|
5
|
|
|
|
Cash at bank and in hand
|
|
|
||
--------
|
--------
|
|||
|
|
|||
CREDITORS: Amounts falling due within one year
|
6
|
|
|
|
--------
|
---------
|
|||
NET CURRENT LIABILITIES
|
(
|
(
|
||
--------
|
---------
|
|||
TOTAL ASSETS LESS CURRENT LIABILITIES
|
(
|
(
|
||
CREDITORS: Amounts falling due after more than one year
|
7
|
|
|
|
--------
|
---------
|
|||
(
|
(
|
|||
--------
|
---------
|
|||
Called up equity share capital
|
10
|
|
|
|
Share premium account
|
11
|
|
|
|
Profit and loss account
|
12
|
(
|
(
|
|
---------
|
---------
|
|||
DEFICIT
|
(
|
(
|
||
---------
|
---------
|
|||
Period from
|
||
1 Sep 14 to
|
Year to
|
|
31 Dec 15
|
31 Aug 14
|
|
£
|
£
|
|
Directors' remuneration
|
|
|
Depreciation of owned fixed assets
|
–
|
|
Loss on disposal of fixed assets
|
|
–
|
Net loss on foreign currency translation
|
–
|
|
-------
|
--------
|
|
Fixtures & Fittings
|
Equipment
|
Total
|
|
£
|
£
|
£
|
|
At 1 September 2014
|
|
|
|
Disposals
|
(
|
(
|
(
|
--------
|
-------
|
--------
|
|
At 31 December 2015
|
–
|
–
|
–
|
--------
|
-------
|
--------
|
|
At 1 September 2014
|
|
|
|
On disposals
|
(
|
(
|
(
|
--------
|
-------
|
--------
|
|
At 31 December 2015
|
–
|
–
|
–
|
--------
|
-------
|
--------
|
|
At 31 December 2015
|
–
|
–
|
–
|
----
|
----
|
----
|
|
At 31 August 2014
|
|
|
|
----
|
----
|
----
|
|
31 Dec 15
|
31 Aug 14
|
|
£
|
£
|
|
Trade debtors
|
|
|
|
1,000
|
1,000
|
--------
|
-------
|
|
|
|
|
--------
|
-------
|
|
31 Dec 15
|
31 Aug 14
|
|
£
|
£
|
|
Overdrafts
|
|
–
|
Trade creditors
|
|
|
Other taxation and social security
|
|
|
Other creditors
|
|
|
--------
|
---------
|
|
|
|
|
--------
|
---------
|
|
31 Dec 15
|
31 Aug 14
|
|
£
|
£
|
|
Other creditors
|
|
|
----
|
----
|
|
31 Dec 15
|
31 Aug 14
|
|
£
|
£
|
|
Operating leases which expire:
|
||
Within 2 to 5 years
|
-
|
|
----
|
--------
|
|
31 Dec 15
|
31 Aug 14
|
|
£
|
£
|
|
|
|
|
---------
|
---------
|
|
No.
|
£
|
No.
|
£
|
||
|
|
|
|
|
|
--------
|
--------
|
--------
|
--------
|
||
Period from
|
||
1 Sep 14 to
|
Year to
|
|
31 Dec 15
|
31 Aug 14
|
|
£
|
£
|
|
Balance brought forward
|
(
|
(
|
Profit/(loss) for the financial peroid
|
|
(
|
---------
|
---------
|
|
Balance carried forward
|
(
|
(
|
---------
|
---------
|
|
Period from
|
|||
1 Sep 14 to
|
Year to
|
||
31 Dec 15
|
31 Aug 14
|
||
£
|
£
|
£
|
|
TURNOVER
|
|
|
|
Opening stock - finished goods
|
9,090
|
14,263
|
|
Payments to Artists
|
166,198
|
57,927
|
|
Sales commissions
|
6,998
|
–
|
|
Production costs
|
788
|
11,716
|
|
---------
|
--------
|
||
|
83,906
|
||
Closing stock - finished goods
|
–
|
(9,090)
|
|
---------
|
--------
|
||
|
|
||
---------
|
---------
|
||
GROSS PROFIT
|
|
|
|
---------
|
---------
|
||
Administrative expenses
|
|
|
|
--------
|
---------
|
||
OPERATING PROFIT/(LOSS)
|
|
(
|
|
Bank interest receivable
|
7
|
2
|
--------
|
--------
|
|
27,525
|
(10,906)
|
|
Interest payable
|
(530)
|
(1,797)
|
--------
|
--------
|
|
PROFIT/(LOSS) ON ORDINARY ACTIVITIES
|
|
(
|
--------
|
--------
|
|
Directors salaries
|
1,600
|
21,362
|
|
Directors national insurance contributions
|
–
|
2,109
|
|
-------
|
--------
|
||
1,600
|
23,471
|
||
--------
|
|||
Rent
|
13,333
|
46,500
|
|
Rates and water etc
|
321
|
2,179
|
|
Storage and carriage costs
|
8,844
|
1,195
|
|
Insurance
|
11,259
|
6,330
|
|
Repairs and maintenance
|
196
|
991
|
|
--------
|
--------
|
||
33,953
|
57,195
|
||
--------
|
|||
Travel and subsistence
|
4,621
|
6,594
|
|
Telephone
|
3,578
|
2,939
|
|
Books and catalogues
|
–
|
6,236
|
|
Printing, stationery and postage
|
69
|
531
|
|
Photographs, framing & mounting
|
29,481
|
12,252
|
|
Sundry expenses
|
170
|
16
|
|
Artfairs
|
203
|
33,465
|
|
Advertising and promotions
|
1,360
|
1,091
|
|
Entertaining
|
688
|
3,489
|
|
Legal and professional fees
|
7,345
|
16,306
|
|
Accountancy fees
|
1,750
|
900
|
|
Depreciation
|
–
|
1,004
|
|
Loss on disposal of fixed assets
|
842
|
–
|
|
--------
|
--------
|
||
50,107
|
84,823
|
||
--------
|
|||
Bad debts written off
|
6,095
|
–
|
|
Bank charges
|
1,729
|
429
|
|
Foreign currency gains/losses
|
–
|
1,417
|
|
-------
|
-------
|
||
7,824
|
1,846
|
||
--------
|
---------
|
||
|
|
||
--------
|
---------
|
||
Bank interest receivable
|
7
|
2
|
|
----
|
----
|
||
Bank interest payable
|
97
|
1,160
|
|
Interest on other loans
|
433
|
637
|
|
----
|
-------
|
||
|
|
||
----
|
-------
|
||