Acorah Software Products - Accounts Production 15.0.600 false true 30 June 2023 1 July 2022 false 1 July 2023 30 June 2024 30 June 2024 06700613 Mrs Pearl Mills Mr Patrick Firmin Mr Patrick Dawson Mr Simon Coombe iso4217:GBP iso4217:EUR iso4217:USD xbrli:shares xbrli:pure xbrli:pure 06700613 2023-06-30 06700613 2024-06-30 06700613 2023-07-01 2024-06-30 06700613 frs-core:CurrentFinancialInstruments 2024-06-30 06700613 frs-core:Non-currentFinancialInstruments 2024-06-30 06700613 frs-core:FurnitureFittings 2024-06-30 06700613 frs-core:FurnitureFittings 2023-07-01 2024-06-30 06700613 frs-core:FurnitureFittings 2023-06-30 06700613 frs-core:ShareCapital 2024-06-30 06700613 frs-core:RetainedEarningsAccumulatedLosses 2024-06-30 06700613 frs-bus:PrivateLimitedCompanyLtd 2023-07-01 2024-06-30 06700613 frs-bus:FilletedAccounts 2023-07-01 2024-06-30 06700613 frs-bus:SmallEntities 2023-07-01 2024-06-30 06700613 frs-bus:AuditExemptWithAccountantsReport 2023-07-01 2024-06-30 06700613 frs-bus:SmallCompaniesRegimeForAccounts 2023-07-01 2024-06-30 06700613 frs-bus:Director1 2023-07-01 2024-06-30 06700613 frs-bus:Director2 2023-07-01 2024-06-30 06700613 frs-bus:Director3 2023-07-01 2024-06-30 06700613 frs-bus:Director4 2023-07-01 2024-06-30 06700613 frs-countries:EnglandWales 2023-07-01 2024-06-30 06700613 2022-06-30 06700613 2023-06-30 06700613 2022-07-01 2023-06-30 06700613 frs-core:CurrentFinancialInstruments 2023-06-30 06700613 frs-core:Non-currentFinancialInstruments 2023-06-30 06700613 frs-core:ShareCapital 2023-06-30 06700613 frs-core:RetainedEarningsAccumulatedLosses 2023-06-30
Registered number: 06700613
Galleries Ltd
Unaudited Financial Statements
For The Year Ended 30 June 2024
Charlton Baker (Trowbridge)
Contents
Page
Accountants' Report 1
Balance Sheet 2—3
Notes to the Financial Statements 4—6
Page 1
Accountants' Report
In accordance with the engagement letter, and in order to assist you to fulfil your duties under the Companies Act 2006, we have compiled the financial statements of the company from the accounting records and information and explanations you have given to us.
This report is made to the directors in accordance with the terms of our engagement. Our work has been undertaken to prepare for approval by the directors the financial statements that we have been engaged to compile, to report to the directors that we have done so, and to state those matters that we have agreed to state to them in this report and for no other purpose. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than the Company and the Company's directors for our work or for this report.
You have acknowledged on the balance sheet as at year ended 30 June 2024 your duty to ensure that the company has kept proper accounting records and to prepare financial statements that give a true and fair view under the Companies Act 2006. You consider that the company is exempt from the statutory requirement for an audit for the year.
We have not been instructed to carry out an audit of the financial statements. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the financial statements.
Signed
18/10/2024
Charlton Baker (Trowbridge)
33 Duke Street
Trowbridge
Wiltshire
BA14 8EA
Page 1
Page 2
Balance Sheet
Registered number: 06700613
2024 2023
Notes £ £ £ £
FIXED ASSETS
Tangible Assets 4 9,037 12,651
9,037 12,651
CURRENT ASSETS
Stocks 5 19,236 19,853
Debtors 6 5,586 7,774
Cash at bank and in hand 51,385 52,499
76,207 80,126
Creditors: Amounts Falling Due Within One Year 7 (47,957 ) (47,276 )
NET CURRENT ASSETS (LIABILITIES) 28,250 32,850
TOTAL ASSETS LESS CURRENT LIABILITIES 37,287 45,501
Creditors: Amounts Falling Due After More Than One Year 8 (1,187 ) (3,957 )
PROVISIONS FOR LIABILITIES
Deferred Taxation (1,369 ) (2,403 )
NET ASSETS 34,731 39,141
CAPITAL AND RESERVES
Called up share capital 9 1 1
Profit and Loss Account 34,730 39,140
SHAREHOLDERS' FUNDS 34,731 39,141
Page 2
Page 3
For the year ending 30 June 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
These accounts have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime.
The company has taken advantage of section 444(1) of the Companies Act 2006 and opted not to deliver to the registrar a copy of the company's Profit and Loss Account.
On behalf of the board
Mr Simon Coombe
Director
18/10/2024
The notes on pages 4 to 5 form part of these financial statements.
Page 3
Page 4
Notes to the Financial Statements
1. General Information
Galleries Ltd is a private company, limited by shares, incorporated in England & Wales, registered number 06700613 . The registered office is Galleries Shop & Cafe , Freshford Lane, Freshford, Bath, BA2 7UR.
2. Accounting Policies
2.1. Basis of Preparation of Financial Statements
The financial statements have been prepared under the historical cost convention and in accordance with Financial Reporting Standard 102 section 1A Small Entities "The Financial Reporting Standard applicable in the UK and Republic of Ireland" and the Companies Act 2006.
2.2. Turnover
Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover includes revenue earned from the sale of goods and from the rendering of services. Turnover is reduced for estimated customer returns, rebates and other similar allowances.
Sale of goods
Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods has transferred to the buyer. This is usually at the point that the customer has signed for the delivery of the goods.

2.3. Tangible Fixed Assets and Depreciation
Tangible fixed assets are measured at cost less accumulated depreciation and any accumulated impairment losses. Depreciation is provided at rates calculated to write off the cost of the fixed assets, less their estimated residual value, over their expected useful lives on the following bases:
Fixtures & Fittings 20% on cost
2.4. Stocks and Work in Progress
Stock is valued at the lower of cost and net realisable value after making due allowance for obsolete and slow-moving stocks. 
2.5. Taxation
Income tax expense represents the sum of the tax currently payable and deferred tax.
The tax currently payable is based on taxable profit for the year. Taxable profit differs from profit as reported in the statement of comprehensive income because of items of income or expense that are taxable or deductible in other years and items that are never taxable or deductible. The company's liability for current tax is calculated using tax rates that have been enacted or substantively enacted by the end of the reporting period.
Deferred tax is recognised on timing differences between the carrying amounts of assets and liabilities in the financial statements and the corresponding tax bases used in the computation of taxable profit. Deferred tax liabilities are generally recognised for all taxable timing differences. Deferred tax assets are generally recognised for all deductible temporary differences to the extent that it is probable that taxable profits will be available against which those deductible timing differences can be utilised. The carrying amount of deferred tax assets is reviewed at the end of each reporting period and reduced to the extent that it is no longer probable that sufficient taxable profits will be available to allow all or part of the asset to be recovered.
Deferred tax assets and liabilities are measured at the tax rates that are expected to apply in the period in which the liability is settled or the asset realised, based on tax rates (and tax laws) that have been enacted or substantively enacted by the end of the reporting period. Deferred tax liabilities are presented within provisions for liabilities and deferred tax assets within debtors. The measurement of deferred tax liabilities and assets reflect the tax consequences that would follow from the manner in which the Company expects, at the end of the reporting period, to recover or settle the carrying amount of its assets and liabilities.
Current or deferred tax for the year is recognised in profit or loss, except when they related to items that are recognised in other comprehensive income or directly in equity, in which case, the current and deferred tax is also recognised in other comprehensive income or directly in equity respectively.
3. Average Number of Employees
Average number of employees, including directors, during the year was: 5 (2023: 5)
5 5
Page 4
Page 5
4. Tangible Assets
Fixtures & Fittings
£
Cost
As at 1 July 2023 40,119
Additions 2,119
As at 30 June 2024 42,238
Depreciation
As at 1 July 2023 27,468
Provided during the period 5,733
As at 30 June 2024 33,201
Net Book Value
As at 30 June 2024 9,037
As at 1 July 2023 12,651
5. Stocks
2024 2023
£ £
Materials 19,236 19,853
6. Debtors
2024 2023
£ £
Due within one year
Other debtors 5,586 7,774
7. Creditors: Amounts Falling Due Within One Year
2024 2023
£ £
Trade creditors 30,063 26,854
Other creditors 13,049 14,282
Taxation and social security 4,845 6,140
47,957 47,276
8. Creditors: Amounts Falling Due After More Than One Year
2024 2023
£ £
Other creditors 1,187 3,957
9. Share Capital
2024 2023
£ £
Allotted, Called up and fully paid 1 1
10. Ultimate Controlling Party
Page 5
Page 6
The one share is owned by the Freshford and Limpley Stoke Community Association Ltd, a registered charity.
Page 6