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REGISTERED NUMBER: 11732291 (England and Wales)










UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 DECEMBER 2022

FOR

THE WATER GALLERY LIMITED

THE WATER GALLERY LIMITED (REGISTERED NUMBER: 11732291)

CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2022










Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


THE WATER GALLERY LIMITED

COMPANY INFORMATION
FOR THE YEAR ENDED 31 DECEMBER 2022







DIRECTORS: M A Short
L Short





REGISTERED OFFICE: Ground Floor
Egerton House
68 Baker Street
Weybridge
KT13 8AL





REGISTERED NUMBER: 11732291 (England and Wales)





ACCOUNTANTS: RJP LLP
Ground Floor
Egerton House
68 Baker Street
Weybridge
Surrey
KT13 8AL

THE WATER GALLERY LIMITED (REGISTERED NUMBER: 11732291)

BALANCE SHEET
31 DECEMBER 2022

31.12.22 31.12.21
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 167,208 77,666
Investments 5 1,250 -
168,458 77,666

CURRENT ASSETS
Stocks 6 21,000 14,000
Debtors 7 122,163 29,306
Cash at bank and in hand 87,192 45,285
230,355 88,591
CREDITORS
Amounts falling due within one year 8 89,088 42,051
NET CURRENT ASSETS 141,267 46,540
TOTAL ASSETS LESS CURRENT
LIABILITIES

309,725

124,206

CREDITORS
Amounts falling due after more than one
year

9

(68,371

)

(11,667

)

PROVISIONS FOR LIABILITIES (8,011 ) (9,319 )
NET ASSETS 233,343 103,220

CAPITAL AND RESERVES
Called up share capital 12 100 100
Retained earnings 233,243 103,120
SHAREHOLDERS' FUNDS 233,343 103,220

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 December 2022.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 December 2022 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 WATER GALLERY LIMITED (REGISTERED NUMBER: 11732291)

BALANCE SHEET - continued
31 DECEMBER 2022


The financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

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 and authorised for issue on 26 September 2023 and were signed on its behalf by:





M A Short - Director


THE WATER GALLERY LIMITED (REGISTERED NUMBER: 11732291)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2022


1. STATUTORY INFORMATION

The Water Gallery Limited 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 Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" including the provisions of Section 1A "Small Entities" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention as modified by the revaluation of certain assets.

Turnover
Turnover represents net invoiced sales of goods, excluding value added tax. Turnover is recognised when goods are sold in store or dispatched for online orders.

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

Fixtures and fittings - 25% on cost
Improvement to property - 10 years straight line.

Stocks
Stock comprises goods held for resale, which are valued at the lower of cost or net realisable value. Net realisable value is based on estimated selling prices.

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.

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.

Pension costs and other post-retirement benefits
The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 2 (2021 - 2 ) .

THE WATER GALLERY LIMITED (REGISTERED NUMBER: 11732291)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 DECEMBER 2022


4. TANGIBLE FIXED ASSETS
Improvements Fixtures
to and Motor Computer
property fittings vehicles equipment Totals
£    £    £    £    £   
COST
At 1 January 2022 83,416 3,466 12,000 4,003 102,885
Additions - - 110,212 2,097 112,309
At 31 December 2022 83,416 3,466 122,212 6,100 215,194
DEPRECIATION
At 1 January 2022 17,967 1,804 3,403 2,045 25,219
Charge for year 8,342 867 11,901 1,657 22,767
At 31 December 2022 26,309 2,671 15,304 3,702 47,986
NET BOOK VALUE
At 31 December 2022 57,107 795 106,908 2,398 167,208
At 31 December 2021 65,449 1,662 8,597 1,958 77,666

5. FIXED ASSET INVESTMENTS
Other
investments
£   
COST OR VALUATION
Additions 3,500
Revaluations (2,250 )
At 31 December 2022 1,250
NET BOOK VALUE
At 31 December 2022 1,250

Cost or valuation at 31 December 2022 is represented by:

Other
investments
£   
Valuation in 2022 (2,250 )
Cost 3,500
1,250

6. STOCKS
31.12.22 31.12.21
£    £   
Stocks 21,000 14,000

THE WATER GALLERY LIMITED (REGISTERED NUMBER: 11732291)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 DECEMBER 2022


7. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.12.22 31.12.21
£    £   
Other debtors 14,250 14,250
Directors' loan accounts 100,861 4,181
VAT 3,548 7,543
Prepayments 3,504 3,332
122,163 29,306

8. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.12.22 31.12.21
£    £   
Bank loans and overdrafts (see note 10) 2,500 2,500
Hire purchase contracts (see note 11) 4,564 -
Tax 33,914 11,868
Social security and other taxes 1,463 2,102
Other creditors 2,881 2,552
Directors' loan accounts 14,971 21,479
Accrued expenses 28,795 1,550
89,088 42,051

9. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR
31.12.22 31.12.21
£    £   
Bank loans (see note 10) 9,167 11,667
Hire purchase contracts (see note 11) 59,204 -
68,371 11,667

10. LOANS

An analysis of the maturity of loans is given below:

31.12.22 31.12.21
£    £   
Amounts falling due within one year or on demand:
Bank loans 2,500 2,500

Amounts falling due between one and two years:
Bank loans 2,500 2,500

Amounts falling due between two and five years:
Bank loans 6,667 9,167

THE WATER GALLERY LIMITED (REGISTERED NUMBER: 11732291)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 DECEMBER 2022


11. LEASING AGREEMENTS

Minimum lease payments fall due as follows:

Hire purchase contracts
31.12.22 31.12.21
£    £   
Net obligations repayable:
Within one year 4,564 -
Between one and five years 59,204 -
63,768 -

Non-cancellable operating leases
31.12.22 31.12.21
£    £   
Within one year 28,500 28,500
Between one and five years 15,031 43,531
43,531 72,031

12. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 31.12.22 31.12.21
value: £    £   
100 Ordinary £1.00 100 100

13. DIRECTORS' ADVANCES, CREDITS AND GUARANTEES

The following advances and credits to directors subsisted during the years ended 31 December 2022 and 31 December 2021:

31.12.22 31.12.21
£    £   
Director
Balance outstanding at start of year 4,181 (104,605 )
Amounts advanced 144,721 117,999
Amounts repaid (48,040 ) (9,213 )
Amounts written off - -
Amounts waived - -
Balance outstanding at end of year 100,862 4,181

Director
Balance outstanding at start of year (21,479 ) (27,479 )
Amounts advanced 14,508 6,000
Amounts repaid (8,000 ) -
Amounts written off - -
Amounts waived - -
Balance outstanding at end of year (14,971 ) (21,479 )