GALLERY 65 LIMITED

Company Registration Number:
09438956 (England and Wales)

Unaudited statutory accounts for the year ended 28 February 2022

Period of accounts

Start date: 01 March 2021

End date: 28 February 2022

GALLERY 65 LIMITED

Contents of the Financial Statements

for the Period Ended 28 February 2022

Company Information - 3
Report of the Directors - 4
Profit and Loss Account - 5
Balance sheet - 6
Additional notes - 8
Balance sheet notes - 11

GALLERY 65 LIMITED

Company Information

for the Period Ended 28 February 2022




Director: Andrew John Hawkins
Rebecca Blain
Registered office: 55
Poole Road
Westbourne
Bournemouth
Dorset
England
BH4 9BA
Company Registration Number: 09438956 (England and Wales)

GALLERY 65 LIMITED

Directors' Report Period Ended 28 February 2022

The directors present their report with the financial statements of the company for the period ended 28 February 2022

Principal Activities

The company's principle activity during the period was that of an Art Gallery and Picture Framing business

Political and charitable donations

The company's charitable donations during the period amounted to £0.00. No political donations were made.

Directors

The directors shown below have held office during the whole of the period from 01 March 2021 to 28 February 2022
Andrew John Hawkins
Rebecca Blain

This report was approved by the board of directors on 13 September 2022
And Signed On Behalf Of The Board By:

Name: Andrew John Hawkins
Status: Director

Name: Rebecca Blain
Status: Director

GALLERY 65 LIMITED

Profit and Loss Account

for the Period Ended 28 February 2022


Notes

2022
£

2021
£
Turnover 124,155 77,169
Cost of sales ( 51,241 ) ( 32,007 )
Gross Profit or (Loss) 83,528 88,760
Income from coronavirus (COVID-19) business support grants 10,614 43,598
Distribution Costs ( 0 ) ( 0 )
Administrative Expenses ( 65,997 ) ( 67,633 )
Other operating income 3 10
Operating Profit or (Loss) 17,534 21,137
Profit or (Loss) Before Tax 17,534 21,137
Tax on Profit ( 2,787 ) ( 3,356 )
Profit or (Loss) for Period 14,747 17,781

The notes form part of these financial statements

GALLERY 65 LIMITED

Balance sheet

As at 28 February 2022


Notes

2022
£

2021
£
Fixed assets
Intangible assets: 4 0 0
Tangible assets: 5 11,753 13,029
Total fixed assets: 11,753 13,029
Current assets
Stocks: 15,795 12,618
Debtors: 6 769 967
Cash at bank and in hand: 29,948 19,033
Total current assets: 46,512 32,618
Prepayments and accrued income: 0 0
Creditors: amounts falling due within one year: 7 ( 31,597 ) ( 33,282 )
Net current assets (liabilities): 14,915 ( 664 )
Total assets less current liabilities: 26,668 12,365
Provision for liabilities: ( 0 ) ( 0 )
Accruals and deferred income: ( 0 ) ( 0 )
Total net assets (liabilities): 26,668 12,365

The notes form part of these financial statements

GALLERY 65 LIMITED

Balance sheet continued

As at 28 February 2022


Notes

2022
£

2021
£
Capital and reserves
Called up share capital: 100 100
Revaluation reserve: 8 0 0
Profit and loss account: 26,568 12,265
Shareholders funds: 26,668 12,365

For the year ending 28 February 2022 the company was entitled to exemption under section 477 of the Companies Act 2006 relating to small companies.

The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

These accounts have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

This report was approved by the board of directors on 13 September 2022
And Signed On Behalf Of The Board By:

Name: Andrew John Hawkins
Status: Director

Name: Rebecca Blain
Status: Director

The notes form part of these financial statements

GALLERY 65 LIMITED

Notes to the Financial Statements

for the Period Ended 28 February 2022

  • 1. Accounting policies

    Basis of measurement and preparation

    These financial statements have been prepared in accordance with the provisions of Section 1A (Small Entities) of Financial Reporting Standard 102

GALLERY 65 LIMITED

Notes to the Financial Statements

for the Period Ended 28 February 2022

  • 2. Employees


    2022

    2021
    Average number of employees during the period 2 2

GALLERY 65 LIMITED

Notes to the Financial Statements

for the Period Ended 28 February 2022

  • 3. Off balance sheet disclosure

    No

GALLERY 65 LIMITED

Notes to the Financial Statements

for the Period Ended 28 February 2022

4. Intangible assets

Other Total
Cost £ £
At 01 March 2021 0 0
Additions 0 0
Disposals ( 0 ) ( 0 )
Revaluations 0 0
Transfers 0 0
At 28 February 2022 0 0
Amortisation
Amortisation at 01 March 2021 0 0
Charge for year 0 0
On disposals ( 0 ) ( 0 )
Other adjustments 0 0
Amortisation at 28 February 2022 0 0
Net book value
Net book value at 28 February 2022 0 0
Net book value at 28 February 2021 0 0

GALLERY 65 LIMITED

Notes to the Financial Statements

for the Period Ended 28 February 2022

5. Tangible assets

Plant & machinery Total
Cost £ £
At 01 March 2021 21,506 21,506
Additions 0 0
Disposals ( 0 ) ( 0 )
Revaluations 0 0
Transfers 0 0
At 28 February 2022 21,506 21,506
Depreciation
At 01 March 2021 8,477 8,477
Charge for year 1,276 1,276
On disposals ( 0 ) ( 0 )
Other adjustments 0 0
At 28 February 2022 9,753 9,753
Net book value
At 28 February 2022 11,753 11,753
At 28 February 2021 13,029 13,029

GALLERY 65 LIMITED

Notes to the Financial Statements

for the Period Ended 28 February 2022

6. Debtors


2022
£

2021
£
Trade debtors 769 967
Total 769 967

GALLERY 65 LIMITED

Notes to the Financial Statements

for the Period Ended 28 February 2022

7.Creditors: amounts falling due within one year note


2022
£

2021
£
Bank loans and overdrafts 3,033 5,633
Amounts due under finance leases and hire purchase contracts 0 0
Trade creditors 6,513 2,581
Taxation and social security 4,832 4,054
Accruals and deferred income 0 0
Other creditors 17,219 21,014
Total 31,597 33,282

GALLERY 65 LIMITED

Notes to the Financial Statements

for the Period Ended 28 February 2022

8. Revaluation reserve


2022
£
Balance at 01 March 2021 0
Surplus or deficit after revaluation 0
Balance at 28 February 2022 0