INTERNATIONAL ART (UK) LTD - Limited company - abbreviated - 11.6

REGISTERED NUMBER: 07705142 (England and Wales)

ABBREVIATED ACCOUNTS FOR THE YEAR ENDED 31 DECEMBER 2014

FOR

INTERNATIONAL ART (UK) LTD

Page

Company Information

1

Abbreviated Balance Sheet

2

Notes to the Abbreviated Accounts

4

DIRECTORS:

B COWLEY

S HOQUE

REGISTERED OFFICE:

CP HOUSE

OTTERSPOOL WAY

WATFORD

WD25 8HU

REGISTERED NUMBER:

07705142 (England and Wales)

ACCOUNTANTS:

E Dessai & Co

Chartered Accountants

Vyman House

104 College Road

Harrow

Middlesex

HA1 1BQ

FIXED ASSETS

Tangible assets

2

14,868

11,629

CURRENT ASSETS

Stocks

103,000

84,000

Debtors

79,071

93,319

Cash at bank and in hand

10,068

12,537

192,139

189,856

CREDITORS

Amounts falling due within one year

183,241

181,791

NET CURRENT ASSETS

8,898

8,065

TOTAL ASSETS LESS CURRENT LIABILITIES

23,766

19,694

CAPITAL AND RESERVES

Called up share capital

3

100

100

Profit and loss account

23,666

19,594

SHAREHOLDERS' FUNDS

23,766

19,694

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 December 2014.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 December 2014 in accordance with Section 476 of the Companies Act 2006.

The directors acknowledge their 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.

The abbreviated accounts have been prepared in accordance with the special provisions of Part 15 of the Companies Act 2006 relating to small companies.

The financial statements were approved by the Board of Directors on 28 September 2015 and were signed on its behalf by:

B COWLEY - Director

S HOQUE - Director

1.	ACCOUNTING POLICIES

Accounting convention

The financial statements have been prepared under the historical cost convention and in accordance with the

Financial Reporting Standard for Smaller Entities (effective April 2008).

Turnover

Turnover represents net invoiced sales of goods, excluding value added tax.

Tangible fixed assets

Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.

Plant and machinery

-

50% on cost

Stocks

Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow

moving items.

Deferred tax

Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance

sheet date.

2.	TANGIBLE FIXED ASSETS

Total

£

COST

At 1 January 2014

16,295

Additions

7,563

At 31 December 2014

23,858

DEPRECIATION

At 1 January 2014

4,666

Charge for year

4,324

At 31 December 2014

8,990

NET BOOK VALUE

At 31 December 2014

14,868

At 31 December 2013

11,629

3.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

2014

2013

value:

£

£

100

ORDINARY

1

100

100