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UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2016 |
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ISELIN ART ADVISORY LIMITED |
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REGISTERED NUMBER:
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UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2016 |
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FOR |
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ISELIN ART ADVISORY LIMITED |
ISELIN ART ADVISORY LIMITED (REGISTERED NUMBER: 09124826) |
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CONTENTS OF THE FINANCIAL STATEMENTS |
FOR THE YEAR ENDED 31 DECEMBER 2016 |
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Company Information | 1 |
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Statement of Financial Position | 2 |
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Notes to the Financial Statements | 3 |
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ISELIN ART ADVISORY LIMITED |
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COMPANY INFORMATION |
FOR THE YEAR ENDED 31 DECEMBER 2016 |
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DIRECTOR: |
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REGISTERED OFFICE: |
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REGISTERED NUMBER: |
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ACCOUNTANT: |
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24 Wandsworth Road |
London |
SW8 2JW |
ISELIN ART ADVISORY LIMITED (REGISTERED NUMBER: 09124826) |
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STATEMENT OF FINANCIAL POSITION |
31 DECEMBER 2016 |
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2016 | 2015 |
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 |
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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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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 his responsibilities for: |
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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. |
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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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ISELIN ART ADVISORY LIMITED (REGISTERED NUMBER: 09124826) |
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NOTES TO THE FINANCIAL STATEMENTS |
FOR THE YEAR ENDED 31 DECEMBER 2016 |
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1. | STATUTORY INFORMATION |
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Iselin Art Advisory Limited is a
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company's 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 represents net invoiced value of works sold and services provided in the financial period, excluding |
value added tax. |
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Tangible fixed assets |
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Stocks |
Stocks of works fo art are valued at the lower of cost and net realisable value. |
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Foreign currencies |
Assets and liabilities in foreign currencies are translated into sterling at the rates of exchange ruling at the |
statement of financial position date. Transactions in foreign currencies are translated into sterling at the rate of |
exchange ruling at the date of transaction. Exchange differences are taken into account in arriving at the |
operating result. |
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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. |
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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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ISELIN ART ADVISORY LIMITED (REGISTERED NUMBER: 09124826) |
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NOTES TO THE FINANCIAL STATEMENTS - continued |
FOR THE YEAR ENDED 31 DECEMBER 2016 |
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4. | TANGIBLE FIXED ASSETS |
Plant and |
machinery |
etc |
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COST |
At 1 January 2016 |
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Additions |
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At 31 December 2016 |
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DEPRECIATION |
At 1 January 2016 |
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Charge for year |
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At 31 December 2016 |
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NET BOOK VALUE |
At 31 December 2016 |
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At 31 December 2015 |
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5. | DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
2016 | 2015 |
£ | £ |
Trade debtors |
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Other debtors |
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A prepayment of £5,378 was netted against accruals in the 2015 published accounts. The above comparatives |
have been restated to show this under debtors. |
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6. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
2016 | 2015 |
£ | £ |
Trade creditors |
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Taxation and social security |
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Other creditors |
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A prepayment of £5,378 was netted against accruals in the 2015 published accounts. The above comparatives |
have been restated to reflect the correct debtors and creditor balances. |
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7. | RELATED PARTY DISCLOSURES |
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During the year, total dividends of £30,000 (2015 - £30,000) were paid to the director . |
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At the balance sheet date, there was an outstanding loan from the director, W J Iselin, for £396,070 (2015: |
£201,369). This loan is unsecured and subordinated in favour of third-party creditors. |
ISELIN ART ADVISORY LIMITED (REGISTERED NUMBER: 09124826) |
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NOTES TO THE FINANCIAL STATEMENTS - continued |
FOR THE YEAR ENDED 31 DECEMBER 2016 |
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8. | ULTIMATE CONTROLLING PARTY |
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The controlling party is W J Iselin. |