REGISTERED NUMBER: |
BALMAN GALLERY LIMITED |
Financial Statements |
for the Year Ended 31 July 2023 |
REGISTERED NUMBER: |
BALMAN GALLERY LIMITED |
Financial Statements |
for the Year Ended 31 July 2023 |
BALMAN GALLERY LIMITED (Registered number: 06969514) |
Contents of the Financial Statements |
for the year ended 31 July 2023 |
Page |
Company Information | 1 |
Statement of Financial Position | 2 |
Notes to the Financial Statements | 3 |
BALMAN GALLERY LIMITED |
Company Information |
for the year ended 31 July 2023 |
DIRECTOR: |
REGISTERED OFFICE: |
REGISTERED NUMBER: |
BALMAN GALLERY LIMITED (Registered number: 06969514) |
Statement of Financial Position |
31 July 2023 |
31/7/23 | 31/7/22 |
Notes | £ | £ |
CURRENT ASSETS |
Stocks |
Debtors | 4 |
Cash at bank |
CREDITORS |
Amounts falling due within one year | 5 |
NET CURRENT LIABILITIES | ( |
) | ( |
) |
TOTAL ASSETS LESS CURRENT LIABILITIES |
( |
) |
( |
) |
CREDITORS |
Amounts falling due after more than one year |
6 |
NET LIABILITIES | ( |
) | ( |
) |
CAPITAL AND RESERVES |
Called up share capital |
Retained earnings | ( |
) | ( |
) |
SHAREHOLDERS' FUNDS | ( |
) | ( |
) |
The director acknowledges his 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. |
In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered. |
The financial statements were approved by the director and authorised for issue on |
BALMAN GALLERY LIMITED (Registered number: 06969514) |
Notes to the Financial Statements |
for the year ended 31 July 2023 |
1. | STATUTORY INFORMATION |
BALMAN GALLERY LIMITED is a |
2. | ACCOUNTING POLICIES |
Basis of preparing the financial statements |
At 31 July 2023 the liabilities of the company exceeded assets by £50,833. The accounts have been prepared on a going concern basis because the company director A Balman controls Riverside Operations Limited which has agreed to defer repayment of a loan totalling £46,877 at 31 July 2023. The director has agreed to defer repayment of his loan totalling £20,518 at 31 July 2023. |
Revenue recognition |
Income comprises invoiced sales of goods and services. |
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 statement of financial position date. |
Deferred tax |
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the statement of financial position 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. |
3. | EMPLOYEES AND DIRECTORS |
The average number of employees during the year was |
4. | DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
31/7/23 | 31/7/22 |
£ | £ |
Trade debtors |
Other debtors |
BALMAN GALLERY LIMITED (Registered number: 06969514) |
Notes to the Financial Statements - continued |
for the year ended 31 July 2023 |
5. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
31/7/23 | 31/7/22 |
£ | £ |
Bank loans and overdrafts |
Other creditors |
6. | CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR |
31/7/23 | 31/7/22 |
£ | £ |
Other creditors |
7. | RELATED PARTY DISCLOSURES |
At 31 July 2023 the company owed £20,518 (2022 - £10,435) to the director. The loan is interest free and is repayable more than one year from the balance sheet date. |