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REGISTERED NUMBER: 11732291 (England and Wales)










UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 DECEMBER 2023

FOR

THE WATER GALLERY LIMITED

THE WATER GALLERY LIMITED (REGISTERED NUMBER: 11732291)

CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023










Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


THE WATER GALLERY LIMITED

COMPANY INFORMATION
FOR THE YEAR ENDED 31 DECEMBER 2023







DIRECTORS: M A Short
L Short





REGISTERED OFFICE: Ground Floor
Egerton House
68 Baker Street
Weybridge
KT13 8AL





REGISTERED NUMBER: 11732291 (England and Wales)





ACCOUNTANTS: RJP LLP
Ground Floor
Egerton House
68 Baker Street
Weybridge
Surrey
KT13 8AL

THE WATER GALLERY LIMITED (REGISTERED NUMBER: 11732291)

BALANCE SHEET
31 DECEMBER 2023

31.12.23 31.12.22
as restated
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 132,312 167,208
Investments 5 1,250 1,250
133,562 168,458

CURRENT ASSETS
Stocks 6 28,000 21,000
Debtors 7 124,373 122,163
Cash at bank and in hand 16,904 36,100
169,277 179,263
CREDITORS
Amounts falling due within one year 8 49,218 79,380
NET CURRENT ASSETS 120,059 99,883
TOTAL ASSETS LESS CURRENT
LIABILITIES

253,621

268,341

CREDITORS
Amounts falling due after more than one
year

9

(60,967

)

(68,371

)

PROVISIONS FOR LIABILITIES (4,950 ) (8,011 )
NET ASSETS 187,704 191,959

CAPITAL AND RESERVES
Called up share capital 12 100 100
Retained earnings 187,604 191,859
SHAREHOLDERS' FUNDS 187,704 191,959

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

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

The directors acknowledge 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 WATER GALLERY LIMITED (REGISTERED NUMBER: 11732291)

BALANCE SHEET - continued
31 DECEMBER 2023


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 Board of Directors and authorised for issue on 3 September 2024 and were signed on its behalf by:





M A Short - Director


THE WATER GALLERY LIMITED (REGISTERED NUMBER: 11732291)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023


1. STATUTORY INFORMATION

The Water 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 as modified by the revaluation of certain assets.

Turnover
Turnover represents net invoiced sales of goods, excluding value added tax. Turnover is recognised when goods are sold in store or dispatched for online orders.

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 cost
Improvement to property - 10 years straight line.

Stocks
Stock comprises goods held for resale, which are valued at the lower of cost or net realisable value. Net realisable value is based on estimated selling prices.

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 2 (2022 - 2 ) .

THE WATER GALLERY LIMITED (REGISTERED NUMBER: 11732291)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 DECEMBER 2023


4. TANGIBLE FIXED ASSETS
Improvements Fixtures
to and Motor Computer
property fittings vehicles equipment Totals
£    £    £    £    £   
COST
At 1 January 2023
and 31 December 2023 83,416 3,466 122,212 6,100 215,194
DEPRECIATION
At 1 January 2023 26,309 2,671 15,304 3,702 47,986
Charge for year 8,341 789 24,443 1,323 34,896
At 31 December 2023 34,650 3,460 39,747 5,025 82,882
NET BOOK VALUE
At 31 December 2023 48,766 6 82,465 1,075 132,312
At 31 December 2022 57,107 795 106,908 2,398 167,208

5. FIXED ASSET INVESTMENTS
Other
investments
£   
COST OR VALUATION
At 1 January 2023
and 31 December 2023 1,250
NET BOOK VALUE
At 31 December 2023 1,250
At 31 December 2022 1,250

Cost or valuation at 31 December 2023 is represented by:

Other
investments
£   
Valuation in 2023 1,250

6. STOCKS
31.12.23 31.12.22
as restated
£    £   
Stocks 28,000 21,000

7. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.12.23 31.12.22
as restated
£    £   
Other debtors 14,250 14,250
Directors' loan accounts 96,082 100,861
VAT 10,293 3,548
Prepayments 3,748 3,504
124,373 122,163

THE WATER GALLERY LIMITED (REGISTERED NUMBER: 11732291)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 DECEMBER 2023


8. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.12.23 31.12.22
as restated
£    £   
Bank loans and overdrafts (see note 10) 2,500 2,500
Hire purchase contracts (see note 11) 4,904 4,564
Trade creditors 2,717 -
Tax 17,191 24,206
Social security and other taxes 5,032 1,463
Other creditors 15,198 2,881
Directors' loan accounts - 14,971
Accrued expenses 1,676 28,795
49,218 79,380

9. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR
31.12.23 31.12.22
as restated
£    £   
Bank loans (see note 10) 6,667 9,167
Hire purchase contracts (see note 11) 54,300 59,204
60,967 68,371

10. LOANS

An analysis of the maturity of loans is given below:

31.12.23 31.12.22
as restated
£    £   
Amounts falling due within one year or on demand:
Bank loans 2,500 2,500

Amounts falling due between one and two years:
Bank loans 2,500 2,500

Amounts falling due between two and five years:
Bank loans 4,167 6,667

11. LEASING AGREEMENTS

Minimum lease payments fall due as follows:

Hire purchase contracts
31.12.23 31.12.22
as restated
£    £   
Net obligations repayable:
Within one year 4,904 4,564
Between one and five years 54,300 59,204
59,204 63,768

THE WATER GALLERY LIMITED (REGISTERED NUMBER: 11732291)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 DECEMBER 2023


11. LEASING AGREEMENTS - continued

Non-cancellable operating leases
31.12.23 31.12.22
as restated
£    £   
Within one year 30,342 28,500
Between one and five years - 15,031
30,342 43,531

12. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 31.12.23 31.12.22
value: as restated
£    £   
100 Ordinary £1.00 100 100

13. DIRECTORS' ADVANCES, CREDITS AND GUARANTEES

The following advances and credits to directors subsisted during the years ended 31 December 2023 and 31 December 2022:

31.12.23 31.12.22
as restated
£    £   
Director
Balance outstanding at start of year 100,862 4,181
Amounts advanced 126,470 144,721
Amounts repaid (133,277 ) (48,040 )
Amounts written off - -
Amounts waived - -
Balance outstanding at end of year 94,055 100,862

Director
Balance outstanding at start of year (14,971 ) (21,479 )
Amounts advanced 17,000 14,508
Amounts repaid - (8,000 )
Amounts written off - -
Amounts waived - -
Balance outstanding at end of year 2,029 (14,971 )

Interest in charged on the loan to the director at a rate of 2.25% per annum.