MORETTI FINE ART LIMITED - Limited company - abbreviated

REGISTERED NUMBER: 05139336 (England and Wales)

Abbreviated Unaudited Accounts for the Year Ended 31 December 2014

for

MORETTI FINE ART LIMITED

Page

Company Information

1

Abbreviated Balance Sheet

2

Notes to the Abbreviated Accounts

3

DIRECTOR:

F Moretti

SECRETARY:

Woodford Services Ltd

REGISTERED OFFICE:

3 The Shrubberies

George Lane

South Woodford

London

E18 1BG

REGISTERED NUMBER:

05139336 (England and Wales)

ACCOUNTANTS:

ABT Advisory Ltd

Office 3

Peverel House

Maldon Road

Hatfield Peverel

Essex

CM2 3JF

FIXED ASSETS

Tangible assets

2

19,198

23,468

CURRENT ASSETS

Stocks

1,172,335

1,244,623

Debtors

2,534,974

312,731

Cash at bank and in hand

42,544

3,863,950

3,749,853

5,421,304

CREDITORS

Amounts falling due within one year

3,537,739

5,217,106

NET CURRENT ASSETS

212,114

204,198

TOTAL ASSETS LESS CURRENT
LIABILITIES

231,312

227,666

PROVISIONS FOR LIABILITIES

2,487

NET ASSETS

228,825

225,179

CAPITAL AND RESERVES

Called up share capital

3

1

Profit and loss account

228,824

225,178

SHAREHOLDERS' FUNDS

228,825

225,179

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 director acknowledges his 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 director on 30 September 2015 and were signed by:

F Moretti - 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 etc

-

25% 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

and 31 December 2014

42,371

DEPRECIATION

At 1 January 2014

18,903

Charge for year

4,270

At 31 December 2014

23,173

NET BOOK VALUE

At 31 December 2014

19,198

At 31 December 2013

23,468

3.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

31.12.14

31.12.13

value:

£

1

Ordinary

£1

1

MORETTI FINE ART LIMITED - Limited company - abbreviated - 11.0.0

MORETTI FINE ART LIMITED - Limited company - abbreviated - 11.0.0