Company Registration No. 08196670 (England and Wales)
SPITFIRE FINE ART LIMITED
ANNUAL REPORT AND UNAUDITED FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 APRIL 2020
SPITFIRE FINE ART LIMITED
CONTENTS
Page
Director's report
1
Balance sheet
2
Notes to the financial statements
3 - 4
SPITFIRE FINE ART LIMITED
DIRECTOR'S REPORT
FOR THE YEAR ENDED 30 APRIL 2020
- 1 -
The director presents his annual report and financial statements for the year ended 30 April 2020.
Principal activities
The company is dormant and did not trade during the year or in the previous year.
Director
The director who held office during the year and up to the date of signature of the financial statements was as follows:
G Washington
This report has been prepared in accordance with the provisions applicable to companies entitled to the small companies exemption.
On behalf of the board
G Washington
Director
7 April 2021
SPITFIRE FINE ART LIMITED
BALANCE SHEET
AS AT
30 APRIL 2020
30 April 2020
- 2 -
2020
2019
Notes
£
£
£
£
Current assets
Debtors
3
2
2
Net current assets
2
2
Capital and reserves
Called up share capital
4
2
2
For the financial year ended 30 April 2020 the company was entitled to exemption from audit under section 480 of the Companies Act 2006 relating to dormant companies.
The director acknowledges his responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.
T
he members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476
.
These financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies regime.
The financial statements were approved and signed by the director and authorised for issue on 7 April 2021
G Washington
Director
Company Registration No. 08196670
SPITFIRE FINE ART LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 APRIL 2020
- 3 -
1
Accounting policies
Company information
Spitfire Fine Art Limited is a
private
company
limited by shares
incorporated in England and Wales.
The registered office is
Unit 15 Spitfire Road, Erdington, Birmingham, B24 9PR.
1.1
Accounting convention
These financial statements have been prepared in accordance with FRS 102 “The Financial Reporting Standard applicable in the UK and Republic of Ireland” (“FRS 102”) and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime. The disclosure requirements of section 1A of FRS 102 have been applied other than where additional disclosure is required to show a true and fair view.
The financial statements are prepared in
sterling
, which is the functional currency of the company.
Monetary a
mounts
in these financial statements are
rounded to the nearest £.
The financial statements have been prepared under the historical cost convention. The principal accounting policies adopted are set out below.
1.2
Profit and loss account
The company has not traded during the year or the preceding financial
period
. During
this time
the company received no income and incurred no expenditure and therefore no Profit and loss account is presented
in these financial statements.
1.3
Financial instruments
The company has elected to apply the provisions of Section 11 ‘Basic Financial Instruments’ and Section 12 ‘Other Financial Instruments Issues’ of FRS 102 to all of its financial instruments.
Basic financial assets
Basic financial assets, which include debtors are initially measured at transaction price including transaction costs and are subsequently carried at amortised cost using the effective interest
method unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest.
Financial assets classified as receivable within one year are not amortised.
1.4
Equity instruments
Equity instruments issued by the company are recorded at the proceeds received, net of transaction costs.
2
Employees
There were no employees during the year or in the previous year.
3
Debtors
2020
2019
Amounts falling due within one year:
£
£
Amounts owed by group undertakings
2
2
SPITFIRE FINE ART LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 30 APRIL 2020
- 4 -
4
Called up share capital
2020
2019
£
£
Ordinary share capital
Issued and fully paid
2 Ordinary shares of £1 each
2
2
2
2
5
Parent company
Halcyon Fine Art Group Holdings Limited is the parent company of the smallest group that prepares group accounts and that Spitfire Fine Art Limited is a member. The registered office of Halcyon Fine Art Group Holdings Limited is 29 New Bond Street, London, W1S 2RL.