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REGISTERED NUMBER: OC389280 (England and Wales)












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: Mr N J Letchford
Mr D R Hoyland





REGISTERED OFFICE: 270-276 Kingsland Road
London
E8 4DG





REGISTERED NUMBER: OC389280 (England and Wales)





ACCOUNTANTS: Raffingers LLP
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 4 943 -

CURRENT ASSETS
Debtors 100,606 75,181
Cash at bank 83,027 109,434
183,633 184,615
CREDITORS
Amounts falling due within one year 108,196 107,138
NET CURRENT ASSETS 75,437 77,477
TOTAL ASSETS LESS CURRENT
LIABILITIES

76,380

77,477

CREDITORS
Amounts falling due after more than one
year

5

34,203

44,167
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 LLP is entitled to exemption from audit under Section 477 of the Companies Act 2006 as applied to LLPs by the Limited Liability Partnerships (Accounts and Audit) (Application of Companies Act 2006) Regulations 2008 for the year ended 31 October 2022.

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


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

All the members have consented to the preparation of an abridged Income Statement and an abridged Balance Sheet for the year ended 31 October 2022 in accordance with Section 444(2A) of the Companies Act 2006 as applied to LLPs by the Limited Liability Partnerships (Accounts and Audit) (Application of Companies Act 2006) Regulations 2008.

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 23 October 2023 and were signed by:





Mr N J Letchford - Designated member

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
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 requirements of the Statement of Recommended Practice, Accounting by Limited Liability Partnerships. The financial statements have been prepared under the historical cost convention.

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
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 reducing balance
Office equipment - 25% on reducing balance

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 2,120
Additions 1,257
At 31 October 2022 3,377
DEPRECIATION
At 1 November 2021 2,120
Charge for year 314
At 31 October 2022 2,434
NET BOOK VALUE
At 31 October 2022 943
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.