REGISTERED NUMBER: |
UNAUDITED FINANCIAL STATEMENTS |
FOR THE YEAR ENDED 31 OCTOBER 2022 |
FOR |
SEVENTEEN GALLERY LLP |
REGISTERED NUMBER: |
UNAUDITED FINANCIAL STATEMENTS |
FOR THE YEAR ENDED 31 OCTOBER 2022 |
FOR |
SEVENTEEN GALLERY LLP |
SEVENTEEN GALLERY LLP (REGISTERED NUMBER: OC389280) |
CONTENTS OF THE FINANCIAL STATEMENTS |
for the year ended 31 October 2022 |
Page |
General Information | 1 |
Abridged Balance Sheet | 2 |
Notes to the Financial Statements | 4 |
SEVENTEEN GALLERY LLP |
GENERAL INFORMATION |
for the year ended 31 October 2022 |
DESIGNATED MEMBERS: |
REGISTERED OFFICE: |
REGISTERED NUMBER: |
ACCOUNTANTS: |
Chartered Certified Accountants |
19-20 Bourne Court |
Southend Road |
Woodford Green |
Essex |
IG8 8HD |
SEVENTEEN GALLERY LLP (REGISTERED NUMBER: OC389280) |
ABRIDGED BALANCE SHEET |
31 October 2022 |
2022 | 2021 |
Notes | £ | £ | £ | £ |
FIXED ASSETS |
Tangible assets | 4 |
CURRENT ASSETS |
Debtors |
Cash at bank |
CREDITORS |
Amounts falling due within one year |
NET CURRENT ASSETS |
TOTAL ASSETS LESS CURRENT LIABILITIES |
CREDITORS |
Amounts falling due after more than one year |
5 |
NET ASSETS ATTRIBUTABLE TO MEMBERS |
42,177 |
33,310 |
LOANS AND OTHER DEBTS DUE TO MEMBERS |
6 |
42,177 |
33,310 |
TOTAL MEMBERS' INTERESTS |
Loans and other debts due to members | 6 | 42,177 | 33,310 |
Amounts due from members | (17,687 | ) | (22,024 | ) |
24,490 | 11,286 |
The members acknowledge their responsibilities for: |
(a) | ensuring that the LLP keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006 as applied to LLPs by the Limited Liability Partnerships (Accounts and Audit) (Application of Companies Act 2006) Regulations 2008 and |
(b) | preparing financial statements which give a true and fair view of the state of affairs of the LLP 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 as applied to LLPs by the Limited Liability Partnerships (Accounts and Audit) (Application of Companies Act 2006) Regulations 2008 relating to financial statements, so far as applicable to the LLP. |
SEVENTEEN GALLERY LLP (REGISTERED NUMBER: OC389280) |
ABRIDGED BALANCE SHEET - continued |
31 October 2022 |
In accordance with Section 444 of the Companies Act 2006 as applied to LLPs by the Limited Liability Partnerships (Accounts and Audit) (Application of Companies Act 2006) Regulations 2008, the Income Statement has not been delivered. |
The financial statements were approved by the members of the LLP and authorised for issue on |
SEVENTEEN GALLERY LLP (REGISTERED NUMBER: OC389280) |
NOTES TO THE FINANCIAL STATEMENTS |
for the year ended 31 October 2022 |
1. | STATUTORY INFORMATION |
Seventeen Gallery LLP is registered in England and Wales. The LLP's registered number and registered office address can be found on the General Information page. |
The presentation currency of the financial statements is the Pound Sterling (£). |
2. | ACCOUNTING POLICIES |
Basis of preparing the financial statements |
The accounts have been prepared on the going concern basis as the members are of the opinion that the company will meet its liabilities as and when due, due to the continued support of the members. |
Turnover |
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. |
Tangible fixed assets |
Fixtures and fittings | - |
Office equipment | - |
Government grants |
Government grants, including non-monetary grants shall not be recognised until there is reasonable assurance that: |
(a) the entity will comply with the conditions attaching to them; and |
(b) the grants will be received. |
Loans and borrowings |
Loans and borrowings are initially recognised at the transaction price including transactions costs. Subsequently, they are measured at amortised cost using the effective interest rate method, less impairment |
Short term debtors and creditors |
Short term debtors and creditors with no stated interest rate are recorded at transaction price. Any losses arising from impairment are recognised in the profit and loss account. |
3. | EMPLOYEE INFORMATION |
The average number of employees during the year was NIL (2021 - NIL). |
SEVENTEEN GALLERY LLP (REGISTERED NUMBER: OC389280) |
NOTES TO THE FINANCIAL STATEMENTS - continued |
for the year ended 31 October 2022 |
4. | TANGIBLE FIXED ASSETS |
Totals |
£ |
COST |
At 1 November 2021 |
Additions |
At 31 October 2022 |
DEPRECIATION |
At 1 November 2021 |
Charge for year |
At 31 October 2022 |
NET BOOK VALUE |
At 31 October 2022 |
At 31 October 2021 |
5. | CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN FIVE YEARS |
2022 | 2021 |
£ | £ |
Repayable by instalments |
Bank loans | - | 4,167 |
6. | LOANS AND OTHER DEBTS DUE TO MEMBERS |
Loans and other debts due to members are unsecured. |