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REGISTERED NUMBER: 13282866 (England and Wales)















Guts Gallery Limited

Unaudited Financial Statements

for the Year Ended 31 March 2024






Guts Gallery Limited (Registered number: 13282866)

Contents of the Financial Statements
for the year ended 31 March 2024










Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 3


Guts Gallery Limited

Company Information
for the year ended 31 March 2024







Director: E Pennick





Registered office: Unit 2 Sidings House
10 Andre Street
London
E8 2AA





Registered number: 13282866 (England and Wales)





Accountants: Cooper Parry
New Derwent House
69-73 Theobalds Road
London
WC1X 8TA

Guts Gallery Limited (Registered number: 13282866)

Balance Sheet
31 March 2024

2024 2023
Notes £ £ £ £
Fixed assets
Tangible assets 4 2,889 8,745

Current assets
Stocks 5,805 14,573
Debtors 5 47,230 18,859
Cash at bank 42,574 40,017
95,609 73,449
Creditors
Amounts falling due within one year 6 59,490 49,067
Net current assets 36,119 24,382
Total assets less current liabilities 39,008 33,127

Capital and reserves
Called up share capital 7 100 100
Retained earnings 38,908 33,027
Shareholders' funds 39,008 33,127

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 March 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 March 2024 in accordance with Section 476 of the Companies Act 2006.

The director acknowledges 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 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 30 August 2024 and were signed by:





E Pennick - Director


Guts Gallery Limited (Registered number: 13282866)

Notes to the Financial Statements
for the year ended 31 March 2024


1. Statutory information

Guts 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.

Going Concern
The financial statements have been prepared on a going concern basis. The Director has reviewed and considered relevant information, including the annual budget and future cash flows in making their assessment.

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 - 50% on cost
Computer equipment - 50% on cost
Improvements to property owned - 50% on cost

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.

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 3 (2023 - 2 ) .

Guts Gallery Limited (Registered number: 13282866)

Notes to the Financial Statements - continued
for the year ended 31 March 2024


4. Tangible fixed assets
Fixtures
Improvements and Computer
to property fittings equipment Totals
£ £ £ £
Cost
At 1 April 2023 11,069 667 3,144 14,880
Additions - - 966 966
At 31 March 2024 11,069 667 4,110 15,846
Depreciation
At 1 April 2023 5,088 416 631 6,135
Charge for year 5,080 251 1,491 6,822
At 31 March 2024 10,168 667 2,122 12,957
Net book value
At 31 March 2024 901 - 1,988 2,889
At 31 March 2023 5,981 251 2,513 8,745

5. Debtors: amounts falling due within one year
2024 2023
£ £
Trade debtors 37,201 9,854
Other debtors 10,029 9,005
47,230 18,859

6. Creditors: amounts falling due within one year
2024 2023
£ £
Trade creditors 11,371 5,370
Taxation and social security 26,813 5,956
Other creditors 21,306 37,741
59,490 49,067

7. Called up share capital

Allotted, issued and fully paid:
Number: Class: Nominal 2024 2023
value: £ £
100 Ordinary £1 100 100

8. First year adoption

The financial statements have been prepared under FRS 102 1A and in doing so the prior year figures have been restated from FRS 105 to FRS 102.