Art Alliance Deluxe Ltd - Accounts to registrar (filleted) - small 18.2

REGISTERED NUMBER: 06604008 (England and Wales)

Unaudited Financial Statements for the Year Ended 31 December 2017

for

Art Alliance Deluxe Ltd

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

3

DIRECTORS:

A Popov

I Fishman

REGISTERED OFFICE:

3rd Floor Fairgate House

78 New Oxford Street

London

WC1A 1HB

REGISTERED NUMBER:

06604008 (England and Wales)

ACCOUNTANTS:

S H LANDES LLP

3rd Floor, Fairgate House

78 New Oxford Street

London

WC1A 1HB

CURRENT ASSETS

Stocks

359,403

-

Debtors

4

2,222,453

2,213,164

Cash at bank and in hand

36,769

78,652

2,618,625

2,291,816

CREDITORS

Amounts falling due within one year

5

5,018,956

4,148,659

NET CURRENT LIABILITIES

(2,400,331

)

(1,856,843

)

TOTAL ASSETS LESS CURRENT LIABILITIES

(2,400,331

)

(1,856,843

)

CAPITAL AND RESERVES

Called up share capital

1,222

1,222

Retained earnings

(2,401,553

)

(1,858,065

)

SHAREHOLDERS' FUNDS

(2,400,331

)

(1,856,843

)

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 December 2017.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 December 2017 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 financial statements have been prepared and delivered in accordance with the provisions of Part 15 of the Companies Act 2006 relating to small companies.

In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered.

The financial statements were approved by the Board of Directors on 28 September 2018 and were signed on its behalf by:

A Popov - Director

1.	STATUTORY INFORMATION

Art Alliance Deluxe Ltd is a private company, limited by shares , registered in England and Wales. The

company's registered number and registered office address can be found on the Company Information page.

2.	ACCOUNTING POLICIES

Basis of preparing the financial statements

These financial statements have been prepared in accordance with the provisions of Section 1A "Small Entities" of Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.

Turnover

Turnover represents sales made net of VAT and trade discounts. Turnover is recognised when the goods are

physically delivered to the customer.

Stocks

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

moving items.

Taxation

Taxation for the year comprises current and deferred tax. Tax is recognised in the Income Statement, except to

the extent that it relates to items recognised in other comprehensive income or directly in equity.

Current or deferred taxation assets and liabilities are not discounted.

Current tax is recognised at the amount of tax payable using the tax rates and laws that have been enacted or

substantively enacted by the balance sheet date.

Deferred tax

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

sheet date.

Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from

those in which they are recognised in financial statements. Deferred tax is measured using tax rates and laws that

have been enacted or substantively enacted by the year end and that are expected to apply to the reversal of the

timing difference.

Unrelieved tax losses and other deferred tax assets are recognised only to the extent that it is probable that they

will be recovered against the reversal of deferred tax liabilities or other future taxable profits.

Foreign currencies

Monetary assets and liabilities in foreign currencies are translated into Euro at the rates of exchange ruling at the

balance sheet date. Transactions in foreign currencies are translated into Euro at the rate of exchange ruling at

the date of transaction. Exchange differences are taken into account in arriving at the operating result.

Going concern

The company's ability to continue as a going concern is contingent on the willingness of members to provide

financing to the company. The members have expressed their willingness to provide financial support for the

next 12 months as from the date of approval of the financial statements in order for the company to meet its

current liabilities. The directors therefore continue to adopt the going concern basis of accounting.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 2 (2016 - 2 ) .

4.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.12.17

31.12.16

€

€

Trade debtors

1,842,633

2,187,135

Other debtors

379,820

26,029

2,222,453

2,213,164

5.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.12.17

31.12.16

€

€

Trade creditors

312,309

390,849

Other creditors

4,706,647

3,757,810

5,018,956

4,148,659

6.	RELATED PARTY DISCLOSURES

7.	ULTIMATE CONTROLLING PARTY

The ultimate controlling party is A Popov.