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REGISTERED NUMBER: 10885084 (England and Wales)















Unaudited Financial Statements for the Year Ended 31 July 2023

for

Pole Star Gallery Ltd

Pole Star Gallery Ltd (Registered number: 10885084)






Contents of the Financial Statements
for the Year Ended 31 July 2023




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 3 to 4


Pole Star Gallery Ltd

Company Information
for the Year Ended 31 July 2023







DIRECTOR: T M J Fisher





SECRETARY: T M J Fisher





REGISTERED OFFICE: Suite 1
Concept House
23 Billet Lane
Hornchurch
Essex
RM11 1XP





REGISTERED NUMBER: 10885084 (England and Wales)





ACCOUNTANTS: Havard & Associates
Suite 1
Concept House
23 Billet Lane
Hornchurch
Essex
RM11 1XP

Pole Star Gallery Ltd (Registered number: 10885084)

Balance Sheet
31 July 2023

31.7.23 31.7.22
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 3,852 3,987

CURRENT ASSETS
Stocks 5,000 5,000
Debtors 5 24,439 29,668
Cash at bank 85,017 96,019
114,456 130,687
CREDITORS
Amounts falling due within one year 6 94,042 90,493
NET CURRENT ASSETS 20,414 40,194
TOTAL ASSETS LESS CURRENT
LIABILITIES

24,266

44,181

PROVISIONS FOR LIABILITIES 732 757
NET ASSETS 23,534 43,424

CAPITAL AND RESERVES
Called up share capital 7 100 100
Retained earnings 23,434 43,324
SHAREHOLDERS' FUNDS 23,534 43,424

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 July 2023.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 July 2023 in accordance with Section 476 of the Companies Act 2006.

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.

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 director and authorised for issue on 29 August 2024 and were signed by:



T M J Fisher - Director


Pole Star Gallery Ltd (Registered number: 10885084)

Notes to the Financial Statements
for the Year Ended 31 July 2023

1. STATUTORY INFORMATION

Pole Star Gallery Ltd 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.

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.
Plant and machinery etc - 33% on cost and 20% on reducing balance

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 balance sheet date.

Deferred tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet 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.

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 4 (2022 - 7 ) .

Pole Star Gallery Ltd (Registered number: 10885084)

Notes to the Financial Statements - continued
for the Year Ended 31 July 2023

4. TANGIBLE FIXED ASSETS
Plant and
machinery
etc
£   
COST
At 1 August 2022 5,464
Additions 199
At 31 July 2023 5,663
DEPRECIATION
At 1 August 2022 1,477
Charge for year 334
At 31 July 2023 1,811
NET BOOK VALUE
At 31 July 2023 3,852
At 31 July 2022 3,987

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.7.23 31.7.22
£    £   
Trade debtors - 4,233
Other debtors 24,439 25,435
24,439 29,668

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.7.23 31.7.22
£    £   
Bank loans and overdrafts 10 10
Trade creditors 11,541 14,833
Taxation and social security 72,067 63,876
Other creditors 10,424 11,774
94,042 90,493

7. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 31.7.23 31.7.22
value: £    £   
100 Ordinary £1 100 100

8. DIRECTOR'S ADVANCES, CREDITS AND GUARANTEES

There were directors loans brought forward of £ 25,435 which were repaid in full during the year. However there were new loans during the year of £ 24,439 which remained unpaid at the year end.
The loans were unsecured and interest charged at 2.5% per annum pro rata.