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Unaudited Financial Statements for the Year Ended 28 February 2018 |
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Chelsea Fine Arts Limited |
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REGISTERED NUMBER:
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Unaudited Financial Statements for the Year Ended 28 February 2018 |
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for |
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Chelsea Fine Arts Limited |
Chelsea Fine Arts Limited (Registered number: 06832125) |
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Contents of the Financial Statements |
for the Year Ended 28 February 2018 |
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Page |
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Company Information | 1 |
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Balance Sheet | 2 |
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Notes to the Financial Statements | 4 |
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Chelsea Fine Arts Limited |
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Company Information |
for the Year Ended 28 February 2018 |
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DIRECTOR: |
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REGISTERED OFFICE: |
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REGISTERED NUMBER: |
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ACCOUNTANTS: |
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3rd Floor |
3 Fitzhardinge Street |
London |
W1H 6EF |
Chelsea Fine Arts Limited (Registered number: 06832125) |
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Balance Sheet |
28 February 2018 |
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28.2.18 | 28.2.17 |
Notes | £ | £ | £ | £ |
FIXED ASSETS |
Tangible assets | 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 LIABILITIES | ( |
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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/(LIABILITIES) |
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( |
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CAPITAL AND RESERVES |
Called up share capital |
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Retained earnings |
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SHAREHOLDERS' FUNDS |
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The director acknowledges her 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. |
Chelsea Fine Arts Limited (Registered number: 06832125) |
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Balance Sheet - continued |
28 February 2018 |
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In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered. |
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The financial statements were approved by the director on
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Chelsea Fine Arts Limited (Registered number: 06832125) |
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Notes to the Financial Statements |
for the Year Ended 28 February 2018 |
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1. | STATUTORY INFORMATION |
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Chelsea Fine Arts Limited is a
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registered number and registered office address can be found on the Company Information page. |
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2. | ACCOUNTING POLICIES |
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Basis of preparing the financial statements |
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Turnover |
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value |
added tax and other sales taxes. |
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Tangible fixed assets |
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Fixtures and fittings | - |
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Computer equipment | - |
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Leasehold Property is initially recognised at cost. |
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Leasehold property is subsequently carried at the revalued amounts. Leasehold property is revalued whenever their |
carrying amounts are likely to differ materially from their current market value amounts. |
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When an asset is revalued, increases in carrying amounts arising from revaluation are recognised in the asset |
revaluation reserve, unless they offset previous decreases in the carrying amounts of the same asset, in which case, |
they are recognised in profit or loss. Decreases in carrying amounts that offset previous increases of the same asset |
are recognised against the asset revaluation reserve. All other decreases in carrying amounts are recognised as a loss |
in the statement of comprehensive income. |
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Stocks |
Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow |
moving items. |
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Pension costs and other post-retirement benefits |
The company operates a defined contribution pension scheme. Contributions payable to the company's pension |
scheme are charged to profit or loss in the period to which they relate. |
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3. | EMPLOYEES AND DIRECTORS |
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The average number of employees during the year was
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Chelsea Fine Arts Limited (Registered number: 06832125) |
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Notes to the Financial Statements - continued |
for the Year Ended 28 February 2018 |
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4. | TANGIBLE FIXED ASSETS |
Fixtures |
Long | and | Computer |
leasehold | fittings | equipment | Totals |
£ | £ | £ | £ |
COST |
At 1 March 2017 |
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Additions |
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At 28 February 2018 |
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DEPRECIATION |
At 1 March 2017 |
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Charge for year |
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At 28 February 2018 |
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NET BOOK VALUE |
At 28 February 2018 |
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At 28 February 2017 |
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5. | DEBTORS |
28.2.18 | 28.2.17 |
£ | £ |
Amounts falling due within one year: |
Other debtors |
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Amounts falling due after more than one year: |
Other debtors |
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Aggregate amounts |
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6. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
28.2.18 | 28.2.17 |
£ | £ |
Bank loans and overdrafts |
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Trade creditors |
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Taxation and social security |
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Other creditors |
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7. | CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR |
28.2.18 | 28.2.17 |
£ | £ |
Bank loans |
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Chelsea Fine Arts Limited (Registered number: 06832125) |
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Notes to the Financial Statements - continued |
for the Year Ended 28 February 2018 |
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7. | CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR - continued |
28.2.18 | 28.2.17 |
£ | £ |
Amounts falling due in more than five years: |
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Repayable by instalments |
Bank loans | 418,399 | - |
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8. | SECURITY |
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Loans are secured by way of fixed and floating charges over the assets of the company and a mortgage on the |
leasehold property. |